November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. …
November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. …
November 8: The Government of India has extended the ban imposed on export of sugar by one year.…
November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint…
November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November…
November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial…
November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of…
November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area…
November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in…
November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as…
November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this…
November 7: Farmers in Taplejung now are busy in harvesting…
November 7: The Westerly wind is having general influence in the weather system of the country at…
November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development…
November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September…
November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Center stated that the epicentre of the 6.6 magnitude tremor was located in the Khaptad National Park area in Doti district, the state-owned national news agency RSS reported. The earthquake occurred at 2.12 am today (November 9). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said dozens of houses in the rural areas have been flattened due to the quake. Six people were killed when some houses collapsed at ward number 3 of Gairagaun in Purbi Chauki Rural Municipality in the district, RSS quoted Deputy Superintendent of Police Bhola Bhatta, as saying.</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 DSP Bhatta, who is also the Information Officer at the District Police Office, Doti, the deceased have been identified as Bhagawati Bohara, Sita Bohara, Harka Bohara, Prem Bohara, Tulasi Bohara and Dhanasari Bohara of Thadagaun, Purbi Chauki Rural Municipality-3. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the rural municipality, Ram Prasad Upadhyay, confirmed that six people including three from the same family died in the disaster. He said five others sustained injuries and they are receiving treatment in hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, rescue squads of Nepal Police, the Armed Police Force and Nepalese Army have reached the incident site for rescue operation. Rescue works are underway at present and the locals have joined the rescue, the news report added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Min Raj Ojha, a local teacher, told RSS that most of the houses in the area have been damaged. </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"">“Landslides have occurred at many places of Sayal Rural Municipality due to the tremor,” RSS quoted Dal Bahadur Deuba as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, an earthquake of 5.7 magnitude with its epicentre at Dipayal had occurred at 9.7 pm on Tuesday, the center stated. Aftershocks had also occurred frequently following the big tremor. </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 media reports, the quake was felt as far as New Delhi, the capital of India.</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"">In Bajhang, people rushed out of their homes after the earthquake and spent the night outside, RSS further reported. Laxmi Devi Joshi of Khaptad Chhanna-5 said panicked locals lit bonfire and spent the rest of the night in vigil outside in the open. She told RSS that old homes have collapsed in the village. </span></span></span></p> ', 'published' => true, 'created' => '2022-11-09', 'modified' => '2022-11-09', 'keywords' => 'Earthquake, Far Western, Nepal, Sudur Paschim, magnitude, powerful, aftershock, Doti, rescue, Nepalese Army, police, APF, DSP', 'description' => '', 'sortorder' => '16012', 'image' => '20221109110406_ANI-20220823171002.jpg', 'article_date' => '2022-11-09 11:03:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16270', 'article_category_id' => '1', 'title' => 'India Extends Ban on Export of Sugar by One Year', 'sub_title' => '', 'summary' => 'November 8: The Government of India has extended the ban imposed on export of sugar by one year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of India has extended the ban imposed on export of sugar by one year. The Indian government took such decision to ensure the availability of sugar in the domestic market of India and also to control its price. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">This has led to a serious question: How will Nepal meet the demand for sugar? </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Government of India had initially banned the export of sugar from June 1 to October 31 so as to control the rising price of sugar. Issuing a recent notice, India’s Directorate General of Foreign said that the export ban will remain in force until October 31, 2023. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">India’s move is certain to increase the price of sugar in the domestic market of Nepal. Authorities expect blackmarketing to flourish amid such ban.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of Nepal Retail Trade Association Amul Kaji Tuladhar said that a large amount of sugar consumed in Nepal comes from India. Therefore, the ban imposed by India will directly impact the market price in Nepal, argues Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The last time when India decided to ban the export of sugar, its price increased from Rs 82 per kg to Rs 95 per kg in Nepal within weeks,” said Tuladhar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">At precent, the price of sugar has already reached Rs 107 per kg. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The price of sugar is likely to climb further to Rs 110 per kg within a short time,” added Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argues that blackmarketing of sugar will stop only if the government takes full responsibility of distributing sugar which is essential for every household in the country. Tuladhar said that the Nepali importers did not open LCs for bringing in sugar after they were told that the domestic production of sugar will be enough to meet the demand. However, Tuladhar believes that the domestic production has not been able to make any impact. He says that the price of sugar has increased due to the illegal import of sugar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pankaj Joshi, general manager of Salt Trading Corporation, informed that the decision taken by India is certain to affect Nepal because India is the second largest exporter of sugar in the world.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We do not have any stock of sugar. In such a situation, India’s move will only help smuggling of sugar thrive,” said Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal produces 180,000 tons of sugar annually while the demand for sugar in the domestic market is 280,000 tons. As a result, Nepal has been importing 100,000 tons of sugar every year.</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16011', 'image' => '20221108052429_sugar.jpg', 'article_date' => '2022-11-08 17:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16269', 'article_category_id' => '1', 'title' => 'Tile Industry with Joint Investment of Rs 4 Billion in the Offing ', 'sub_title' => '', 'summary' => 'November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment. The two companies have set up a goal to operate the tile industry by the end of 2023.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information posted by Ramesh Corp on its website on Monday, the industry will be built with joint investment of Rs 4 billion. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the agreement between Ramesh Corp and Kajaria Ceramics, the new tile industry will produce 800,000 square meters of tiles and other ceramic products annually. The company claims that the proposed tile industry will be the largest in Nepal and will be operated in Nawalparasi through a joint venture. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Ramesh Corp, the industry will not only meet the demand for tiles in the domestic market of Nepal but will also export tiles and other products in the near future.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that the products produced by the industry will be available at competitive prices. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ashok Kajaria, president of Kajaria Ceramics, who claims his company to be the seventh largest tiles company in the world, said that Nepal is an important market. Stating that the company has been present in the Nepali market for two decades, he said that the establishment of the tile industry and joint investment will further strengthen the industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ramesh Corp has been investing in various sectors of the country for 50 years. Having invested in cement, hydropower, mining, real estate and other sectors, Ramesh Corp has ventured into the tile industry. Similarly, Kajaria, which has been in business for 34 years, is producing tiles and ceramics products from eight plants in India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal has been importing large quantities of tiles from different countries. It is said that the consumption of tiles, marble, granite and other bathroom accessories is increasing every year due to rapid urbanization and the people’s aspiration of living in modern houses with better facilities.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1313.html">replica watch sites</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1314.html">patek philippe dupe</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1315.html">steve trevor watch replica</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1316.html">rwi replica watch forum</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16010', 'image' => '20221108044520_1667867545.टायल उद्योगमा रमेश कर्प र कजरियाको ४ अर्ब लगानी.jpg', 'article_date' => '2022-11-08 16:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16268', 'article_category_id' => '1', 'title' => 'Insurance Board Transformed into Insurance Authority from Today', 'sub_title' => '', 'summary' => 'November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8. With the implementation of the Insurance Act 2079, all the works of the Insurance Board will now be undertaken by the Insurance Authority.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Insurance Bill 2079 which was passed by both the houses of the Federal Parliament about two months ago was authenticated by President Bidya Devi Bhandari on October 8. As per the constitutional provision that any law comes into effect one month after being authenticated by the president, the Insurance Act 2079 is being implemented from November 8. An official announcement will be made about the transformation of the board into the authority on the same day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the provisions in the Insurance Act, the chairman and directors of the Insurance Board will retain their posts and lead the newly-formed authority. Likewise, the employees of the board will perform all the works of the authority. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that a new era has started in the insurance sector of Nepal after the implementation of the new Insurance Act. "The Act of 2049 has not been able to cover the latest developments in the insurance sector," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that the works related to insurance will be done quickly and effectively from now onwards because the new Insurance Act has provisions that give autonomy to the Insurance Authority and the chairman has been authorized to take necessary decisions. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> The new act also has a provision to establish an insurance development fund to increase access to insurance in rural areas as well as among the poor and underprivileged. It has also reduced the regulatory fee that the insurance companies have to pay.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Until now, the insurance companies had been paying regulatory fee equivalent to 0.75 percent of the total premium collected by them. But now onwards, they have to pay regulatory fee equivalent to 0.5 percent of the insurance premium. Likewise, the new act also has strict provisions related to offences related to the insurance sector. The Insurance Authority has been a uthorised to fine between Rs 50000 to Rs 150000 per day to the insurance companies that do not follow its directives.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The then Finance Minister, Yuvraj Khatiwada, had registered the Insurance Bill in parliament four years ago to amend and consolidate laws related to the insurance sector. However, the discussion on the bill was halted for a long time after a dispute regarding the continuity of the terms of the chairman and directors of the insurance board surfaced. The parliamentarians submitted 85 amendments to the original bill while the finance committee amended 124 points and submitted it to the parliament.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16009', 'image' => '20221108044713_1667885163.jpg', 'article_date' => '2022-11-08 14:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16267', 'article_category_id' => '1', 'title' => 'Fringe Parties Bat for Self-Reliant Economy in their Election Manifestos ', 'sub_title' => '', 'summary' => 'November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies. They have incorporated the issues ranging from free medicine to self-reliant economy in their manifestos. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Maulik Jarokilo Party having Sushil Gautam as its chairperson and computer as the election symbol has pointed out the need of massive reform in electoral system. The party stated that it has expanded organization in 47 districts, and fielded candidates for the coming election in 20 constituencies. </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"">“Time has come for consolidation of democracy and protection of the constitution,” the manifesto stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Hamro Nepal Party is for finding root cause of problems in the country with rigorous research and technological assistance. The election symbol of this party is 'stick' and its chairperson is Ananta Raj Ghimire. It has fielded 65 candidates for the House of Representatives and 101 for provincial assemblies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Nepal Samabesi Party, Motilal Bharati, shared that the country needs directly elected Prime Minister, cancellation of provinces and continuation of santan Hindu religion. With the election symbol 'parrot', the party has fielded candidates for 40 seats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Punarjagaran Party Nepal led by Shyam Babu Gautam claimed the constitution and governing system were not compatible. “Directly elected president and the fully proportional electoral system are required for the country to ensure sustainable socialism and democracy,” the party underscored. It has 'candle' as the election symbol. The party has fielded candidates for four members of the House of Representatives and 23 for provincial assemblies. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16008', 'image' => '20221108013310_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-08 13:32:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16266', 'article_category_id' => '1', 'title' => 'Nepal Railway Company Operating Extra Trips to Facilitate Pilgrims', 'sub_title' => '', 'summary' => 'November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims. </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 state-owned company of Nepal decided to run more trips on November 8 and 9 for the convenience of devotees arriving to take holy bath in the Kamala river on the occasion of Kartik Poornima which coincides with the full-moon day today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A large number of devotees from Nepal and India come to take holy dips in the river on this occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Managing Director of the Company, Niranjan Kumar Jha, said, "We have taken this decision to facilitate the passengers." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company has been operating railway service since April 3, 2022 on the 35 kilometres Jayanagar-Kurtha section of the 70-kilometre route from Jayanagar to Bardibas of Mahottari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are confident that the number of pilgrims would go up with the operation of railway service and the export of local products will also get a boost. The railway stations have been fixed at Kurtha, Parwaha, Baidehi, Mahinathpur, Khjuri, Inrwa and Jayanagar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The train is being operated by 26 Indians and 59 Nepali employees at present. The Indian employees include mostly the train crew and some engineers, managing director Jha said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16007', 'image' => '20221108125243_Railwayy (1).jpeg', 'article_date' => '2022-11-08 12:52:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16265', 'article_category_id' => '1', 'title' => 'Nepal, ADB Sign Agreement for Horticulture Project ', 'sub_title' => '', 'summary' => 'November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. As per the agreement, the government will bear about USD14.5 million (approximately Rs 1.88 billion) for the project while the ADB will provide a concessional loan of USD60 million (around Rs 7.79 billion) from the Ordinary Capital Resources, a special fund set up by the ADB to extend grants, loans and technical assistance to help reduce poverty in Asia’s poorest countries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the state-owned national news agency of Nepal, RSS, the financing agreement also includes a grant of USD10 million (approximately Rs 1.30 billion) from the Asian Development Fund, and the ADB will administer a USD9 million (around Rs 1.17 billion) grant from the Global Agriculture and Food Security Programme. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar and ADB’s Country Director for Nepal, Arnaud Cauchois signed the agreement amid a function on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the ADB, the project will increase agricultural income of approximately 40,000 farm households in 100 municipalities in hilly areas of five provinces: Province 1, Bagmati, Gandaki, Karnali and Sudurpashchim. This will be mainly achieved through the development of approximately 10,000 hectares of climate resilient fruit and nut orchards providing value-addition to the nuts and fruits produced by at least 30,000 farm households. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal faces increasing demand for fruits and nuts due to income growth and improved knowledge of nutrition which is not met by domestic production. The commercial farming of fruits and nuts in Nepal remains marginal and the abandonment of cultivable land in hill areas is increasing as people are switching to other off farm employment and relying on external remittances.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"In this context, the project will help in optimal use of the country's favourable agro-climatic conditions to product quality horticulture crops and will support the government's declaration of the Fruit Decade 2016-2026," said Finance Secretary Pushkar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the agreement is a key part of the ADB's overall efforts to address potential risks on food, ADB Country Director for Nepal, Cauchois said, "Through this project we will support improving the livelihood and climate resilience of horticulture farmers in the hilly areas of the five provinces of Nepal." (With inputs from RSS)</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16006', 'image' => '20221108115426_ADB.jpeg', 'article_date' => '2022-11-08 11:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16264', 'article_category_id' => '1', 'title' => 'Government to Tighten Business Visa for Foreigners', 'sub_title' => '', 'summary' => 'November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government’s move is aimed at discouraging the practice of foreigners getting approval for investment just for the sake of acquiring business visas. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Industry has made some new arrangements in the visa recommendation to make the business visa recommendation more systematic and dignified. According to Ramchandra Tiwari, director general of the department, the business visa can be linked with real investment. He said that some foreign nationals have the intention of not making real investment in Nepal, but of staying for a while and returning to their destination after the visa expires.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new provision aims to discourage the situation in which the graph of foreign investment approved by the department increases but the investment does not actually come. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A notice issued by the department on Thursday states that some foreigners have been found approving foreign investment only for the purpose of obtaining business visa but do not register the company and also don’t bring any investment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department estimates that foreign nationals who have received business visas may be involved in activities contrary to the purpose of the visa. Director General Tiwari said that visa recommendation process has been made more systematic to prevent such activities. The notice issued by department states that this new system shall come into effect from November 4. It means that the new provision is being implemented since last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has made it mandatory for foreign nationals to submit the company registration certificate to seek recommendation for business visa for the first time for a period of three months. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department will now onward recommend an additional three-month business visa only after the investor submits the company registration certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department informed that those seeking such visas should then submit the progress report on registration with the tax office, opening a bank account and registration of an industry or application for registration of an industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Foreigners who have been given approval for investment by the department must now complete these procedures and steps to extend the period of their business visa. There was no such arrangement before.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has adopted a policy not to recommend business visas again until the proposed foreign investment is brought into the country. Director General Tiwari, however clarified that if these provisions cause any inconvenience to foreign investors, the department is ready to facilitate them.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The Foreign Investment and Technology Transfer Act does not expect fake investors,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </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' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16005', 'image' => '20221107061914_Untitled.jpg', 'article_date' => '2022-11-07 18:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16263', 'article_category_id' => '1', 'title' => 'Thirty-nine Customers of Microfinance Companies Blacklisted', 'sub_title' => '', 'summary' => 'November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Microfinance companies got affiliation to the Credit Information Centre as per the instruction of Nepal Rastra Bank and started sharing information about credit investment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Subsequently, the centre started blacklisting bad borrowers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The centre, which has been publishing a blacklist of defaulters from banks and financial institutions, has started publishing a separate blacklist of customers of microfinance companies since the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> According to the data published by the centre, 39 debtors have been blacklisted as of November 4 last week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The blacklisted persons will not get loans from any bank or financial institution.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Two years ago, Nepal Rastra Bank instructed microfinance companies to become members of the Credit Information Center and exchange information in order to eliminate the duplication of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions, microfinance companies must obtain credit information from the centre about the borrower/customer before disbursing loans, renewing old loans, or rescheduling loans. Bad debtors who have not paid their loans should be recommended to be blacklisted in the information centre. At present, there is a provision that microfinance companies should recommend blacklisting borrowers who do not repay loans of more than Rs 500,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, if the institution wishes, it can also recommend blacklisting borrowers who take loans of less than Rs 500,000. Similarly, the related organization should recommend to the information centre to remove them from the list after the blacklisted debtor pays the principal and interest of the loan. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prakashraj Sharma, president of Nepal Microfinance Bankers Association, said that according to the instructions of the Nepal Rastra Bank, all the microfinance companies have become members of the information centre and are exchanging information on loan investment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16004', 'image' => '20221107053707_badloan.jpg', 'article_date' => '2022-11-07 17:36:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16262', 'article_category_id' => '1', 'title' => 'Total Lunar Eclipse on November 8 ', 'sub_title' => '', 'summary' => 'November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepal Calendar Determination Committee, the eclipse will occur since moonrise at 5:11 pm. It will be visible following the sunset at 5:11 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the executive director of the committee, Surya Prasad Dhungel, the eclipse will end at 6: 34 pm. It will be visible from Nepal for one hour and 23 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to religious belief, normal people except children, elderly people and sick to restrain themselves from taking food nine hours before of the eclipse (8:11 am) to avoid possible harm due to the eclipse. The practice of meditation and religious worship is considered to be beneficial during the eclipse. Prior to this, a solar eclipse occurred recently on October 25. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16003', 'image' => '20221107013517_Untitled.jpg', 'article_date' => '2022-11-07 13:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16261', 'article_category_id' => '1', 'title' => 'Farmers of Taplejung Busy Harvesting Cardamom ', 'sub_title' => '', 'summary' => 'November 7: Farmers in Taplejung now are busy in harvesting cardamom.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: Farmers in Taplejung now are busy in harvesting cardamom. With the festive season coming to an end, they are fully engaged in picking, peeling and basking cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The period between mid-September to mid-December is the prime time for harvesting cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gyan Bahadur Gurung, a cardamom farmer of Pathivara Yangwarak Rural Municipality-1, Thechambu, informed that the farmers have stepped up their preparation to pick and harvest cardamom fearing possible menace from wildlife. He further said they did not conveniently celebrate the grand festivals such as Dashain and Tihar due to cardamom season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers had to spend their time in cardamom farm even during festivals as it was the main season for harvesting, said Basanta Limbu, a farmer of Faktanglung Rural Municipality-6. Madibung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Khongdu Sherpa, a farmer of Fungling Municipality-6, Bihibare said they were entirely busy in picking, peeling and basking cardamom during the Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is rising fear of wildlife rampage, the farmers had devoted their effort for timely harvesting cardamom, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is the high time for the entire cardamom farmers across the district to harvest their yields. There is massive cardamom farming in 60 wards of all nine local units in the district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cardamom has been cultivated in around 4,450 hectares of land in the district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16002', 'image' => '20221107013146_BlackCardamom.jpg', 'article_date' => '2022-11-07 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16260', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain Today ', 'sub_title' => '', 'summary' => 'November 7: The Westerly wind is having general influence in the weather system of the country at present.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The Westerly wind is having general influence in the weather system of the country at present. The weather will be cloudy with chances of light rain due to this, the Meteorological Forecasting Division of Department of Hydrology and Meteorology said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Manju Basi said that it will be generally cloudy throughout the country with chances of light rain at some places of the hilly region today. It is partly to generally cloudy in the hilly region at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although it was partly cloudy in the federal capital, Kathmandu, in the morning, it is clear now. In the afternoon, the weather is likely to be cloudy again with light rainfall at some places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sky in the Tarai region is sparsely cloudy today, but there is no possibility of rainfall, meteorologist Basi said, adding that it is partly to generally cloudy in the hill region at present and partly cloudy in the rest of the country. The weather will be partly to generally cloudy in the hill region and partly cloudy to generally fair in the rest of the country towards the afternoon today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is predicted at one or two places of the hill region in Province 1 and Bagmati and Gandaki provinces. The weather will be partly cloudy to generally fair throughout the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature of Kathmandu was recorded at 24 degrees Celsius and the minimum 11 degrees Celsius in the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16001', 'image' => '20221107012012_maxresdefault.jpg', 'article_date' => '2022-11-07 13:19:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16259', 'article_category_id' => '1', 'title' => '‘Interest Rates can be Reduced if Fixed Deposits are Maintained for at Least One Year’', 'sub_title' => '', 'summary' => 'November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The development bank made such suggestions mid protests by industrialists, who have hit the streets against the rising interest rates of banks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Excel Development Bank, the cost of maintaining bank deposits is increasing and therefore suggested that the fixed deposits should not be less than one-year period. The bank is of the view that such accounts should not be allowed to pre-mature before a minimum of one year. This, according to the bank, can reduce the base rate of banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Excel Development Bank said that BFIs are currently involved in unhealthy competition to attract deposits, which according to the bank should not be encouraged.</span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16000', 'image' => '20221107125840_Banks - Copy.jpg', 'article_date' => '2022-11-07 12:57:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16258', 'article_category_id' => '1', 'title' => 'Outstanding Amount of Refinance Issued by NRB Stands at Rs 108.49 Billion', 'sub_title' => '', 'summary' => 'November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022. As of mid-September 2022, the outstanding concessional loan is Rs 213.23 billion, extended to 147,926 borrowers, of which Rs 139.67 billion has been extended to 60,302 borrowers for selected commercial agriculture and livestock businesses, the Central Bank stated in the Current Macroeconomic and Financial Situation Report released in October. The report is based on two months' data ending Mid-September of the current fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 70.10 billion loan has been extended to 84,790 women entrepreneurs. A total of 2,834 borrowers have availed Rs 3.46 billion concessional loan in other sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Business continuity loan has been extended to the Covid-19 affected sectors such as tourism, cottage, small and medium industries for the payment of salaries to workers and employees in line with the 'Business Continuity Loan Procedure, 2020'. The outstanding loan extended under this provision is Rs 0.90 billion as of mid-September 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Inter-bank Transaction </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the interbank transactions of BFIs amounted to Rs 647.59 billion including Rs 580.52 billion inter-bank transactions among commercial banks and Rs 67.06 billion among other financial institutions. In the corresponding period of the previous fiscal year, such transactions was Rs 648.31 billion including Rs 557.30 billion among commercial banks and Rs 91 billion among other financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weighted average 91-days treasury bills rate remained at 9.09 percent in the second month of FY 2022/23, which was 3.98 percent in the corresponding period of last fiscal year. The weighted average inter-bank transaction rate among commercial banks, which was 4.75 percent a year ago, increased to 8.50 percent in the review month. The average inter-bank rate of BFIs which is considered as operating target of monetary policy, stood 8.50 percent in the review month. Such a rate was 4.68 percent a year ago. </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""><strong>Interest Rates </strong> </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 average base rate of commercial banks increased to 10.01 percent in the second month of FY 2022/23 from 6.89 percent a year ago. Weighted average deposit rate and lending rate of commercial banks stood at 7.81 percent and 12.06 percent respectively in the review month. Such rates were 4.92 percent and 8.57 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Merger and Acquisition </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After introduction of merger and acquisition policy aimed at strengthening financial stability, the number of BFIs involved in this process reached 247 as of mid-September 2022. Out of which, the license of 179 BFIs was revoked thereby forming 68 BFIs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Financial Access </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 752 levels as of mid-September 2022. The number of local levels having branches of commercial bank was 750 a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total number of BFIs licensed by NRB remained 125 in mid-September 2022. As of mid-September this year, 26 commercial banks, 17 development banks, 17 finance companies, 64 microfinance companies and one infrastructure development bank are in operation. The number of branches of BFIs has reached 11,585 in mid-September 2022 from 11,528 in mid-July 2022. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15999', 'image' => '20221107114002_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-07 11:38:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16257', 'article_category_id' => '1', 'title' => 'FMTCL Sells 29,500 Quintals of Food at Concessional Rates this Year', 'sub_title' => '', 'summary' => 'November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year. The FMTCL had opened fair-price shops at various places across the country during the festivals of Dashain and Tihar to facilitate the general public.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The fair-price shops were opened from September 17 to November 1 this year with the objective of providing food to the public at concessional rates during the festivals and also to discourage artificial shortage of food. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the FMTCL, it sold 28,939 quintals of rice, 106 quintals of lentil, 10 quintals of pulses and legumes, 10 quintals of wheat, 10 quintals of beaten rice, 464 quintals of meat during the review period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL had operated fair-price shops at 43 different places of 41 districts this year. The company had provided discounts between Rs 10 to Rs 50 on the items sold during this period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL, however, could not sell ghee and sugar at concessional rates this year because the state-owned Dairy Development Corporation faced scarcity of ghee this year while the Ministry of Finance did not give permission to purchase sugar. The consumption of ghee and sugar is maximum during the festivals of Tihar and Chhath. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">FMTCL’s Information Officer Sharmila Neupane informed that the company sold more food items this year compared to last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15998', 'image' => '20221107101946_fair price shoppp.jpg', 'article_date' => '2022-11-07 10:19:11', '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
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Center stated that the epicentre of the 6.6 magnitude tremor was located in the Khaptad National Park area in Doti district, the state-owned national news agency RSS reported. The earthquake occurred at 2.12 am today (November 9). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said dozens of houses in the rural areas have been flattened due to the quake. Six people were killed when some houses collapsed at ward number 3 of Gairagaun in Purbi Chauki Rural Municipality in the district, RSS quoted Deputy Superintendent of Police Bhola Bhatta, as saying.</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 DSP Bhatta, who is also the Information Officer at the District Police Office, Doti, the deceased have been identified as Bhagawati Bohara, Sita Bohara, Harka Bohara, Prem Bohara, Tulasi Bohara and Dhanasari Bohara of Thadagaun, Purbi Chauki Rural Municipality-3. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the rural municipality, Ram Prasad Upadhyay, confirmed that six people including three from the same family died in the disaster. He said five others sustained injuries and they are receiving treatment in hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, rescue squads of Nepal Police, the Armed Police Force and Nepalese Army have reached the incident site for rescue operation. Rescue works are underway at present and the locals have joined the rescue, the news report added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Min Raj Ojha, a local teacher, told RSS that most of the houses in the area have been damaged. </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"">“Landslides have occurred at many places of Sayal Rural Municipality due to the tremor,” RSS quoted Dal Bahadur Deuba as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, an earthquake of 5.7 magnitude with its epicentre at Dipayal had occurred at 9.7 pm on Tuesday, the center stated. Aftershocks had also occurred frequently following the big tremor. </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 media reports, the quake was felt as far as New Delhi, the capital of India.</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"">In Bajhang, people rushed out of their homes after the earthquake and spent the night outside, RSS further reported. Laxmi Devi Joshi of Khaptad Chhanna-5 said panicked locals lit bonfire and spent the rest of the night in vigil outside in the open. She told RSS that old homes have collapsed in the village. </span></span></span></p> ', 'published' => true, 'created' => '2022-11-09', 'modified' => '2022-11-09', 'keywords' => 'Earthquake, Far Western, Nepal, Sudur Paschim, magnitude, powerful, aftershock, Doti, rescue, Nepalese Army, police, APF, DSP', 'description' => '', 'sortorder' => '16012', 'image' => '20221109110406_ANI-20220823171002.jpg', 'article_date' => '2022-11-09 11:03:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16270', 'article_category_id' => '1', 'title' => 'India Extends Ban on Export of Sugar by One Year', 'sub_title' => '', 'summary' => 'November 8: The Government of India has extended the ban imposed on export of sugar by one year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of India has extended the ban imposed on export of sugar by one year. The Indian government took such decision to ensure the availability of sugar in the domestic market of India and also to control its price. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">This has led to a serious question: How will Nepal meet the demand for sugar? </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Government of India had initially banned the export of sugar from June 1 to October 31 so as to control the rising price of sugar. Issuing a recent notice, India’s Directorate General of Foreign said that the export ban will remain in force until October 31, 2023. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">India’s move is certain to increase the price of sugar in the domestic market of Nepal. Authorities expect blackmarketing to flourish amid such ban.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of Nepal Retail Trade Association Amul Kaji Tuladhar said that a large amount of sugar consumed in Nepal comes from India. Therefore, the ban imposed by India will directly impact the market price in Nepal, argues Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The last time when India decided to ban the export of sugar, its price increased from Rs 82 per kg to Rs 95 per kg in Nepal within weeks,” said Tuladhar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">At precent, the price of sugar has already reached Rs 107 per kg. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The price of sugar is likely to climb further to Rs 110 per kg within a short time,” added Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argues that blackmarketing of sugar will stop only if the government takes full responsibility of distributing sugar which is essential for every household in the country. Tuladhar said that the Nepali importers did not open LCs for bringing in sugar after they were told that the domestic production of sugar will be enough to meet the demand. However, Tuladhar believes that the domestic production has not been able to make any impact. He says that the price of sugar has increased due to the illegal import of sugar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pankaj Joshi, general manager of Salt Trading Corporation, informed that the decision taken by India is certain to affect Nepal because India is the second largest exporter of sugar in the world.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We do not have any stock of sugar. In such a situation, India’s move will only help smuggling of sugar thrive,” said Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal produces 180,000 tons of sugar annually while the demand for sugar in the domestic market is 280,000 tons. As a result, Nepal has been importing 100,000 tons of sugar every year.</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16011', 'image' => '20221108052429_sugar.jpg', 'article_date' => '2022-11-08 17:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16269', 'article_category_id' => '1', 'title' => 'Tile Industry with Joint Investment of Rs 4 Billion in the Offing ', 'sub_title' => '', 'summary' => 'November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment. The two companies have set up a goal to operate the tile industry by the end of 2023.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information posted by Ramesh Corp on its website on Monday, the industry will be built with joint investment of Rs 4 billion. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the agreement between Ramesh Corp and Kajaria Ceramics, the new tile industry will produce 800,000 square meters of tiles and other ceramic products annually. The company claims that the proposed tile industry will be the largest in Nepal and will be operated in Nawalparasi through a joint venture. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Ramesh Corp, the industry will not only meet the demand for tiles in the domestic market of Nepal but will also export tiles and other products in the near future.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that the products produced by the industry will be available at competitive prices. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ashok Kajaria, president of Kajaria Ceramics, who claims his company to be the seventh largest tiles company in the world, said that Nepal is an important market. Stating that the company has been present in the Nepali market for two decades, he said that the establishment of the tile industry and joint investment will further strengthen the industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ramesh Corp has been investing in various sectors of the country for 50 years. Having invested in cement, hydropower, mining, real estate and other sectors, Ramesh Corp has ventured into the tile industry. Similarly, Kajaria, which has been in business for 34 years, is producing tiles and ceramics products from eight plants in India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal has been importing large quantities of tiles from different countries. It is said that the consumption of tiles, marble, granite and other bathroom accessories is increasing every year due to rapid urbanization and the people’s aspiration of living in modern houses with better facilities.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1313.html">replica watch sites</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1314.html">patek philippe dupe</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1315.html">steve trevor watch replica</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1316.html">rwi replica watch forum</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16010', 'image' => '20221108044520_1667867545.टायल उद्योगमा रमेश कर्प र कजरियाको ४ अर्ब लगानी.jpg', 'article_date' => '2022-11-08 16:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16268', 'article_category_id' => '1', 'title' => 'Insurance Board Transformed into Insurance Authority from Today', 'sub_title' => '', 'summary' => 'November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8. With the implementation of the Insurance Act 2079, all the works of the Insurance Board will now be undertaken by the Insurance Authority.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Insurance Bill 2079 which was passed by both the houses of the Federal Parliament about two months ago was authenticated by President Bidya Devi Bhandari on October 8. As per the constitutional provision that any law comes into effect one month after being authenticated by the president, the Insurance Act 2079 is being implemented from November 8. An official announcement will be made about the transformation of the board into the authority on the same day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the provisions in the Insurance Act, the chairman and directors of the Insurance Board will retain their posts and lead the newly-formed authority. Likewise, the employees of the board will perform all the works of the authority. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that a new era has started in the insurance sector of Nepal after the implementation of the new Insurance Act. "The Act of 2049 has not been able to cover the latest developments in the insurance sector," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that the works related to insurance will be done quickly and effectively from now onwards because the new Insurance Act has provisions that give autonomy to the Insurance Authority and the chairman has been authorized to take necessary decisions. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> The new act also has a provision to establish an insurance development fund to increase access to insurance in rural areas as well as among the poor and underprivileged. It has also reduced the regulatory fee that the insurance companies have to pay.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Until now, the insurance companies had been paying regulatory fee equivalent to 0.75 percent of the total premium collected by them. But now onwards, they have to pay regulatory fee equivalent to 0.5 percent of the insurance premium. Likewise, the new act also has strict provisions related to offences related to the insurance sector. The Insurance Authority has been a uthorised to fine between Rs 50000 to Rs 150000 per day to the insurance companies that do not follow its directives.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The then Finance Minister, Yuvraj Khatiwada, had registered the Insurance Bill in parliament four years ago to amend and consolidate laws related to the insurance sector. However, the discussion on the bill was halted for a long time after a dispute regarding the continuity of the terms of the chairman and directors of the insurance board surfaced. The parliamentarians submitted 85 amendments to the original bill while the finance committee amended 124 points and submitted it to the parliament.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16009', 'image' => '20221108044713_1667885163.jpg', 'article_date' => '2022-11-08 14:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16267', 'article_category_id' => '1', 'title' => 'Fringe Parties Bat for Self-Reliant Economy in their Election Manifestos ', 'sub_title' => '', 'summary' => 'November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies. They have incorporated the issues ranging from free medicine to self-reliant economy in their manifestos. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Maulik Jarokilo Party having Sushil Gautam as its chairperson and computer as the election symbol has pointed out the need of massive reform in electoral system. The party stated that it has expanded organization in 47 districts, and fielded candidates for the coming election in 20 constituencies. </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"">“Time has come for consolidation of democracy and protection of the constitution,” the manifesto stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Hamro Nepal Party is for finding root cause of problems in the country with rigorous research and technological assistance. The election symbol of this party is 'stick' and its chairperson is Ananta Raj Ghimire. It has fielded 65 candidates for the House of Representatives and 101 for provincial assemblies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Nepal Samabesi Party, Motilal Bharati, shared that the country needs directly elected Prime Minister, cancellation of provinces and continuation of santan Hindu religion. With the election symbol 'parrot', the party has fielded candidates for 40 seats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Punarjagaran Party Nepal led by Shyam Babu Gautam claimed the constitution and governing system were not compatible. “Directly elected president and the fully proportional electoral system are required for the country to ensure sustainable socialism and democracy,” the party underscored. It has 'candle' as the election symbol. The party has fielded candidates for four members of the House of Representatives and 23 for provincial assemblies. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16008', 'image' => '20221108013310_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-08 13:32:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16266', 'article_category_id' => '1', 'title' => 'Nepal Railway Company Operating Extra Trips to Facilitate Pilgrims', 'sub_title' => '', 'summary' => 'November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims. </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 state-owned company of Nepal decided to run more trips on November 8 and 9 for the convenience of devotees arriving to take holy bath in the Kamala river on the occasion of Kartik Poornima which coincides with the full-moon day today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A large number of devotees from Nepal and India come to take holy dips in the river on this occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Managing Director of the Company, Niranjan Kumar Jha, said, "We have taken this decision to facilitate the passengers." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company has been operating railway service since April 3, 2022 on the 35 kilometres Jayanagar-Kurtha section of the 70-kilometre route from Jayanagar to Bardibas of Mahottari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are confident that the number of pilgrims would go up with the operation of railway service and the export of local products will also get a boost. The railway stations have been fixed at Kurtha, Parwaha, Baidehi, Mahinathpur, Khjuri, Inrwa and Jayanagar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The train is being operated by 26 Indians and 59 Nepali employees at present. The Indian employees include mostly the train crew and some engineers, managing director Jha said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16007', 'image' => '20221108125243_Railwayy (1).jpeg', 'article_date' => '2022-11-08 12:52:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16265', 'article_category_id' => '1', 'title' => 'Nepal, ADB Sign Agreement for Horticulture Project ', 'sub_title' => '', 'summary' => 'November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. As per the agreement, the government will bear about USD14.5 million (approximately Rs 1.88 billion) for the project while the ADB will provide a concessional loan of USD60 million (around Rs 7.79 billion) from the Ordinary Capital Resources, a special fund set up by the ADB to extend grants, loans and technical assistance to help reduce poverty in Asia’s poorest countries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the state-owned national news agency of Nepal, RSS, the financing agreement also includes a grant of USD10 million (approximately Rs 1.30 billion) from the Asian Development Fund, and the ADB will administer a USD9 million (around Rs 1.17 billion) grant from the Global Agriculture and Food Security Programme. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar and ADB’s Country Director for Nepal, Arnaud Cauchois signed the agreement amid a function on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the ADB, the project will increase agricultural income of approximately 40,000 farm households in 100 municipalities in hilly areas of five provinces: Province 1, Bagmati, Gandaki, Karnali and Sudurpashchim. This will be mainly achieved through the development of approximately 10,000 hectares of climate resilient fruit and nut orchards providing value-addition to the nuts and fruits produced by at least 30,000 farm households. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal faces increasing demand for fruits and nuts due to income growth and improved knowledge of nutrition which is not met by domestic production. The commercial farming of fruits and nuts in Nepal remains marginal and the abandonment of cultivable land in hill areas is increasing as people are switching to other off farm employment and relying on external remittances.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"In this context, the project will help in optimal use of the country's favourable agro-climatic conditions to product quality horticulture crops and will support the government's declaration of the Fruit Decade 2016-2026," said Finance Secretary Pushkar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the agreement is a key part of the ADB's overall efforts to address potential risks on food, ADB Country Director for Nepal, Cauchois said, "Through this project we will support improving the livelihood and climate resilience of horticulture farmers in the hilly areas of the five provinces of Nepal." (With inputs from RSS)</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16006', 'image' => '20221108115426_ADB.jpeg', 'article_date' => '2022-11-08 11:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16264', 'article_category_id' => '1', 'title' => 'Government to Tighten Business Visa for Foreigners', 'sub_title' => '', 'summary' => 'November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government’s move is aimed at discouraging the practice of foreigners getting approval for investment just for the sake of acquiring business visas. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Industry has made some new arrangements in the visa recommendation to make the business visa recommendation more systematic and dignified. According to Ramchandra Tiwari, director general of the department, the business visa can be linked with real investment. He said that some foreign nationals have the intention of not making real investment in Nepal, but of staying for a while and returning to their destination after the visa expires.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new provision aims to discourage the situation in which the graph of foreign investment approved by the department increases but the investment does not actually come. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A notice issued by the department on Thursday states that some foreigners have been found approving foreign investment only for the purpose of obtaining business visa but do not register the company and also don’t bring any investment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department estimates that foreign nationals who have received business visas may be involved in activities contrary to the purpose of the visa. Director General Tiwari said that visa recommendation process has been made more systematic to prevent such activities. The notice issued by department states that this new system shall come into effect from November 4. It means that the new provision is being implemented since last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has made it mandatory for foreign nationals to submit the company registration certificate to seek recommendation for business visa for the first time for a period of three months. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department will now onward recommend an additional three-month business visa only after the investor submits the company registration certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department informed that those seeking such visas should then submit the progress report on registration with the tax office, opening a bank account and registration of an industry or application for registration of an industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Foreigners who have been given approval for investment by the department must now complete these procedures and steps to extend the period of their business visa. There was no such arrangement before.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has adopted a policy not to recommend business visas again until the proposed foreign investment is brought into the country. Director General Tiwari, however clarified that if these provisions cause any inconvenience to foreign investors, the department is ready to facilitate them.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The Foreign Investment and Technology Transfer Act does not expect fake investors,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </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' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16005', 'image' => '20221107061914_Untitled.jpg', 'article_date' => '2022-11-07 18:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16263', 'article_category_id' => '1', 'title' => 'Thirty-nine Customers of Microfinance Companies Blacklisted', 'sub_title' => '', 'summary' => 'November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Microfinance companies got affiliation to the Credit Information Centre as per the instruction of Nepal Rastra Bank and started sharing information about credit investment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Subsequently, the centre started blacklisting bad borrowers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The centre, which has been publishing a blacklist of defaulters from banks and financial institutions, has started publishing a separate blacklist of customers of microfinance companies since the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> According to the data published by the centre, 39 debtors have been blacklisted as of November 4 last week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The blacklisted persons will not get loans from any bank or financial institution.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Two years ago, Nepal Rastra Bank instructed microfinance companies to become members of the Credit Information Center and exchange information in order to eliminate the duplication of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions, microfinance companies must obtain credit information from the centre about the borrower/customer before disbursing loans, renewing old loans, or rescheduling loans. Bad debtors who have not paid their loans should be recommended to be blacklisted in the information centre. At present, there is a provision that microfinance companies should recommend blacklisting borrowers who do not repay loans of more than Rs 500,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, if the institution wishes, it can also recommend blacklisting borrowers who take loans of less than Rs 500,000. Similarly, the related organization should recommend to the information centre to remove them from the list after the blacklisted debtor pays the principal and interest of the loan. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prakashraj Sharma, president of Nepal Microfinance Bankers Association, said that according to the instructions of the Nepal Rastra Bank, all the microfinance companies have become members of the information centre and are exchanging information on loan investment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16004', 'image' => '20221107053707_badloan.jpg', 'article_date' => '2022-11-07 17:36:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16262', 'article_category_id' => '1', 'title' => 'Total Lunar Eclipse on November 8 ', 'sub_title' => '', 'summary' => 'November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepal Calendar Determination Committee, the eclipse will occur since moonrise at 5:11 pm. It will be visible following the sunset at 5:11 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the executive director of the committee, Surya Prasad Dhungel, the eclipse will end at 6: 34 pm. It will be visible from Nepal for one hour and 23 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to religious belief, normal people except children, elderly people and sick to restrain themselves from taking food nine hours before of the eclipse (8:11 am) to avoid possible harm due to the eclipse. The practice of meditation and religious worship is considered to be beneficial during the eclipse. Prior to this, a solar eclipse occurred recently on October 25. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16003', 'image' => '20221107013517_Untitled.jpg', 'article_date' => '2022-11-07 13:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16261', 'article_category_id' => '1', 'title' => 'Farmers of Taplejung Busy Harvesting Cardamom ', 'sub_title' => '', 'summary' => 'November 7: Farmers in Taplejung now are busy in harvesting cardamom.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: Farmers in Taplejung now are busy in harvesting cardamom. With the festive season coming to an end, they are fully engaged in picking, peeling and basking cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The period between mid-September to mid-December is the prime time for harvesting cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gyan Bahadur Gurung, a cardamom farmer of Pathivara Yangwarak Rural Municipality-1, Thechambu, informed that the farmers have stepped up their preparation to pick and harvest cardamom fearing possible menace from wildlife. He further said they did not conveniently celebrate the grand festivals such as Dashain and Tihar due to cardamom season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers had to spend their time in cardamom farm even during festivals as it was the main season for harvesting, said Basanta Limbu, a farmer of Faktanglung Rural Municipality-6. Madibung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Khongdu Sherpa, a farmer of Fungling Municipality-6, Bihibare said they were entirely busy in picking, peeling and basking cardamom during the Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is rising fear of wildlife rampage, the farmers had devoted their effort for timely harvesting cardamom, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is the high time for the entire cardamom farmers across the district to harvest their yields. There is massive cardamom farming in 60 wards of all nine local units in the district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cardamom has been cultivated in around 4,450 hectares of land in the district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16002', 'image' => '20221107013146_BlackCardamom.jpg', 'article_date' => '2022-11-07 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16260', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain Today ', 'sub_title' => '', 'summary' => 'November 7: The Westerly wind is having general influence in the weather system of the country at present.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The Westerly wind is having general influence in the weather system of the country at present. The weather will be cloudy with chances of light rain due to this, the Meteorological Forecasting Division of Department of Hydrology and Meteorology said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Manju Basi said that it will be generally cloudy throughout the country with chances of light rain at some places of the hilly region today. It is partly to generally cloudy in the hilly region at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although it was partly cloudy in the federal capital, Kathmandu, in the morning, it is clear now. In the afternoon, the weather is likely to be cloudy again with light rainfall at some places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sky in the Tarai region is sparsely cloudy today, but there is no possibility of rainfall, meteorologist Basi said, adding that it is partly to generally cloudy in the hill region at present and partly cloudy in the rest of the country. The weather will be partly to generally cloudy in the hill region and partly cloudy to generally fair in the rest of the country towards the afternoon today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is predicted at one or two places of the hill region in Province 1 and Bagmati and Gandaki provinces. The weather will be partly cloudy to generally fair throughout the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature of Kathmandu was recorded at 24 degrees Celsius and the minimum 11 degrees Celsius in the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16001', 'image' => '20221107012012_maxresdefault.jpg', 'article_date' => '2022-11-07 13:19:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16259', 'article_category_id' => '1', 'title' => '‘Interest Rates can be Reduced if Fixed Deposits are Maintained for at Least One Year’', 'sub_title' => '', 'summary' => 'November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The development bank made such suggestions mid protests by industrialists, who have hit the streets against the rising interest rates of banks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Excel Development Bank, the cost of maintaining bank deposits is increasing and therefore suggested that the fixed deposits should not be less than one-year period. The bank is of the view that such accounts should not be allowed to pre-mature before a minimum of one year. This, according to the bank, can reduce the base rate of banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Excel Development Bank said that BFIs are currently involved in unhealthy competition to attract deposits, which according to the bank should not be encouraged.</span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16000', 'image' => '20221107125840_Banks - Copy.jpg', 'article_date' => '2022-11-07 12:57:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16258', 'article_category_id' => '1', 'title' => 'Outstanding Amount of Refinance Issued by NRB Stands at Rs 108.49 Billion', 'sub_title' => '', 'summary' => 'November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022. As of mid-September 2022, the outstanding concessional loan is Rs 213.23 billion, extended to 147,926 borrowers, of which Rs 139.67 billion has been extended to 60,302 borrowers for selected commercial agriculture and livestock businesses, the Central Bank stated in the Current Macroeconomic and Financial Situation Report released in October. The report is based on two months' data ending Mid-September of the current fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 70.10 billion loan has been extended to 84,790 women entrepreneurs. A total of 2,834 borrowers have availed Rs 3.46 billion concessional loan in other sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Business continuity loan has been extended to the Covid-19 affected sectors such as tourism, cottage, small and medium industries for the payment of salaries to workers and employees in line with the 'Business Continuity Loan Procedure, 2020'. The outstanding loan extended under this provision is Rs 0.90 billion as of mid-September 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Inter-bank Transaction </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the interbank transactions of BFIs amounted to Rs 647.59 billion including Rs 580.52 billion inter-bank transactions among commercial banks and Rs 67.06 billion among other financial institutions. In the corresponding period of the previous fiscal year, such transactions was Rs 648.31 billion including Rs 557.30 billion among commercial banks and Rs 91 billion among other financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weighted average 91-days treasury bills rate remained at 9.09 percent in the second month of FY 2022/23, which was 3.98 percent in the corresponding period of last fiscal year. The weighted average inter-bank transaction rate among commercial banks, which was 4.75 percent a year ago, increased to 8.50 percent in the review month. The average inter-bank rate of BFIs which is considered as operating target of monetary policy, stood 8.50 percent in the review month. Such a rate was 4.68 percent a year ago. </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""><strong>Interest Rates </strong> </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 average base rate of commercial banks increased to 10.01 percent in the second month of FY 2022/23 from 6.89 percent a year ago. Weighted average deposit rate and lending rate of commercial banks stood at 7.81 percent and 12.06 percent respectively in the review month. Such rates were 4.92 percent and 8.57 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Merger and Acquisition </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After introduction of merger and acquisition policy aimed at strengthening financial stability, the number of BFIs involved in this process reached 247 as of mid-September 2022. Out of which, the license of 179 BFIs was revoked thereby forming 68 BFIs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Financial Access </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 752 levels as of mid-September 2022. The number of local levels having branches of commercial bank was 750 a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total number of BFIs licensed by NRB remained 125 in mid-September 2022. As of mid-September this year, 26 commercial banks, 17 development banks, 17 finance companies, 64 microfinance companies and one infrastructure development bank are in operation. The number of branches of BFIs has reached 11,585 in mid-September 2022 from 11,528 in mid-July 2022. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15999', 'image' => '20221107114002_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-07 11:38:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16257', 'article_category_id' => '1', 'title' => 'FMTCL Sells 29,500 Quintals of Food at Concessional Rates this Year', 'sub_title' => '', 'summary' => 'November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year. The FMTCL had opened fair-price shops at various places across the country during the festivals of Dashain and Tihar to facilitate the general public.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The fair-price shops were opened from September 17 to November 1 this year with the objective of providing food to the public at concessional rates during the festivals and also to discourage artificial shortage of food. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the FMTCL, it sold 28,939 quintals of rice, 106 quintals of lentil, 10 quintals of pulses and legumes, 10 quintals of wheat, 10 quintals of beaten rice, 464 quintals of meat during the review period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL had operated fair-price shops at 43 different places of 41 districts this year. The company had provided discounts between Rs 10 to Rs 50 on the items sold during this period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL, however, could not sell ghee and sugar at concessional rates this year because the state-owned Dairy Development Corporation faced scarcity of ghee this year while the Ministry of Finance did not give permission to purchase sugar. The consumption of ghee and sugar is maximum during the festivals of Tihar and Chhath. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">FMTCL’s Information Officer Sharmila Neupane informed that the company sold more food items this year compared to last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15998', 'image' => '20221107101946_fair price shoppp.jpg', 'article_date' => '2022-11-07 10:19:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '16271', 'article_category_id' => '1', 'title' => 'Six Killed in Doti as Powerful Earthquake Rocks Far Western Nepal', 'sub_title' => '', 'summary' => 'November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Center stated that the epicentre of the 6.6 magnitude tremor was located in the Khaptad National Park area in Doti district, the state-owned national news agency RSS reported. The earthquake occurred at 2.12 am today (November 9). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said dozens of houses in the rural areas have been flattened due to the quake. Six people were killed when some houses collapsed at ward number 3 of Gairagaun in Purbi Chauki Rural Municipality in the district, RSS quoted Deputy Superintendent of Police Bhola Bhatta, as saying.</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 DSP Bhatta, who is also the Information Officer at the District Police Office, Doti, the deceased have been identified as Bhagawati Bohara, Sita Bohara, Harka Bohara, Prem Bohara, Tulasi Bohara and Dhanasari Bohara of Thadagaun, Purbi Chauki Rural Municipality-3. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the rural municipality, Ram Prasad Upadhyay, confirmed that six people including three from the same family died in the disaster. He said five others sustained injuries and they are receiving treatment in hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, rescue squads of Nepal Police, the Armed Police Force and Nepalese Army have reached the incident site for rescue operation. Rescue works are underway at present and the locals have joined the rescue, the news report added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Min Raj Ojha, a local teacher, told RSS that most of the houses in the area have been damaged. </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"">“Landslides have occurred at many places of Sayal Rural Municipality due to the tremor,” RSS quoted Dal Bahadur Deuba as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, an earthquake of 5.7 magnitude with its epicentre at Dipayal had occurred at 9.7 pm on Tuesday, the center stated. Aftershocks had also occurred frequently following the big tremor. </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 media reports, the quake was felt as far as New Delhi, the capital of India.</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"">In Bajhang, people rushed out of their homes after the earthquake and spent the night outside, RSS further reported. Laxmi Devi Joshi of Khaptad Chhanna-5 said panicked locals lit bonfire and spent the rest of the night in vigil outside in the open. She told RSS that old homes have collapsed in the village. </span></span></span></p> ', 'published' => true, 'created' => '2022-11-09', 'modified' => '2022-11-09', 'keywords' => 'Earthquake, Far Western, Nepal, Sudur Paschim, magnitude, powerful, aftershock, Doti, rescue, Nepalese Army, police, APF, DSP', 'description' => '', 'sortorder' => '16012', 'image' => '20221109110406_ANI-20220823171002.jpg', 'article_date' => '2022-11-09 11:03:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16270', 'article_category_id' => '1', 'title' => 'India Extends Ban on Export of Sugar by One Year', 'sub_title' => '', 'summary' => 'November 8: The Government of India has extended the ban imposed on export of sugar by one year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of India has extended the ban imposed on export of sugar by one year. The Indian government took such decision to ensure the availability of sugar in the domestic market of India and also to control its price. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">This has led to a serious question: How will Nepal meet the demand for sugar? </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Government of India had initially banned the export of sugar from June 1 to October 31 so as to control the rising price of sugar. Issuing a recent notice, India’s Directorate General of Foreign said that the export ban will remain in force until October 31, 2023. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">India’s move is certain to increase the price of sugar in the domestic market of Nepal. Authorities expect blackmarketing to flourish amid such ban.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of Nepal Retail Trade Association Amul Kaji Tuladhar said that a large amount of sugar consumed in Nepal comes from India. Therefore, the ban imposed by India will directly impact the market price in Nepal, argues Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The last time when India decided to ban the export of sugar, its price increased from Rs 82 per kg to Rs 95 per kg in Nepal within weeks,” said Tuladhar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">At precent, the price of sugar has already reached Rs 107 per kg. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The price of sugar is likely to climb further to Rs 110 per kg within a short time,” added Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argues that blackmarketing of sugar will stop only if the government takes full responsibility of distributing sugar which is essential for every household in the country. Tuladhar said that the Nepali importers did not open LCs for bringing in sugar after they were told that the domestic production of sugar will be enough to meet the demand. However, Tuladhar believes that the domestic production has not been able to make any impact. He says that the price of sugar has increased due to the illegal import of sugar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pankaj Joshi, general manager of Salt Trading Corporation, informed that the decision taken by India is certain to affect Nepal because India is the second largest exporter of sugar in the world.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We do not have any stock of sugar. In such a situation, India’s move will only help smuggling of sugar thrive,” said Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal produces 180,000 tons of sugar annually while the demand for sugar in the domestic market is 280,000 tons. As a result, Nepal has been importing 100,000 tons of sugar every year.</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16011', 'image' => '20221108052429_sugar.jpg', 'article_date' => '2022-11-08 17:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16269', 'article_category_id' => '1', 'title' => 'Tile Industry with Joint Investment of Rs 4 Billion in the Offing ', 'sub_title' => '', 'summary' => 'November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment. The two companies have set up a goal to operate the tile industry by the end of 2023.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information posted by Ramesh Corp on its website on Monday, the industry will be built with joint investment of Rs 4 billion. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the agreement between Ramesh Corp and Kajaria Ceramics, the new tile industry will produce 800,000 square meters of tiles and other ceramic products annually. The company claims that the proposed tile industry will be the largest in Nepal and will be operated in Nawalparasi through a joint venture. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Ramesh Corp, the industry will not only meet the demand for tiles in the domestic market of Nepal but will also export tiles and other products in the near future.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that the products produced by the industry will be available at competitive prices. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ashok Kajaria, president of Kajaria Ceramics, who claims his company to be the seventh largest tiles company in the world, said that Nepal is an important market. Stating that the company has been present in the Nepali market for two decades, he said that the establishment of the tile industry and joint investment will further strengthen the industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ramesh Corp has been investing in various sectors of the country for 50 years. Having invested in cement, hydropower, mining, real estate and other sectors, Ramesh Corp has ventured into the tile industry. Similarly, Kajaria, which has been in business for 34 years, is producing tiles and ceramics products from eight plants in India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal has been importing large quantities of tiles from different countries. It is said that the consumption of tiles, marble, granite and other bathroom accessories is increasing every year due to rapid urbanization and the people’s aspiration of living in modern houses with better facilities.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1313.html">replica watch sites</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1314.html">patek philippe dupe</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1315.html">steve trevor watch replica</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1316.html">rwi replica watch forum</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16010', 'image' => '20221108044520_1667867545.टायल उद्योगमा रमेश कर्प र कजरियाको ४ अर्ब लगानी.jpg', 'article_date' => '2022-11-08 16:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16268', 'article_category_id' => '1', 'title' => 'Insurance Board Transformed into Insurance Authority from Today', 'sub_title' => '', 'summary' => 'November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8. With the implementation of the Insurance Act 2079, all the works of the Insurance Board will now be undertaken by the Insurance Authority.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Insurance Bill 2079 which was passed by both the houses of the Federal Parliament about two months ago was authenticated by President Bidya Devi Bhandari on October 8. As per the constitutional provision that any law comes into effect one month after being authenticated by the president, the Insurance Act 2079 is being implemented from November 8. An official announcement will be made about the transformation of the board into the authority on the same day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the provisions in the Insurance Act, the chairman and directors of the Insurance Board will retain their posts and lead the newly-formed authority. Likewise, the employees of the board will perform all the works of the authority. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that a new era has started in the insurance sector of Nepal after the implementation of the new Insurance Act. "The Act of 2049 has not been able to cover the latest developments in the insurance sector," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that the works related to insurance will be done quickly and effectively from now onwards because the new Insurance Act has provisions that give autonomy to the Insurance Authority and the chairman has been authorized to take necessary decisions. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> The new act also has a provision to establish an insurance development fund to increase access to insurance in rural areas as well as among the poor and underprivileged. It has also reduced the regulatory fee that the insurance companies have to pay.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Until now, the insurance companies had been paying regulatory fee equivalent to 0.75 percent of the total premium collected by them. But now onwards, they have to pay regulatory fee equivalent to 0.5 percent of the insurance premium. Likewise, the new act also has strict provisions related to offences related to the insurance sector. The Insurance Authority has been a uthorised to fine between Rs 50000 to Rs 150000 per day to the insurance companies that do not follow its directives.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The then Finance Minister, Yuvraj Khatiwada, had registered the Insurance Bill in parliament four years ago to amend and consolidate laws related to the insurance sector. However, the discussion on the bill was halted for a long time after a dispute regarding the continuity of the terms of the chairman and directors of the insurance board surfaced. The parliamentarians submitted 85 amendments to the original bill while the finance committee amended 124 points and submitted it to the parliament.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16009', 'image' => '20221108044713_1667885163.jpg', 'article_date' => '2022-11-08 14:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16267', 'article_category_id' => '1', 'title' => 'Fringe Parties Bat for Self-Reliant Economy in their Election Manifestos ', 'sub_title' => '', 'summary' => 'November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies. They have incorporated the issues ranging from free medicine to self-reliant economy in their manifestos. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Maulik Jarokilo Party having Sushil Gautam as its chairperson and computer as the election symbol has pointed out the need of massive reform in electoral system. The party stated that it has expanded organization in 47 districts, and fielded candidates for the coming election in 20 constituencies. </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"">“Time has come for consolidation of democracy and protection of the constitution,” the manifesto stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Hamro Nepal Party is for finding root cause of problems in the country with rigorous research and technological assistance. The election symbol of this party is 'stick' and its chairperson is Ananta Raj Ghimire. It has fielded 65 candidates for the House of Representatives and 101 for provincial assemblies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Nepal Samabesi Party, Motilal Bharati, shared that the country needs directly elected Prime Minister, cancellation of provinces and continuation of santan Hindu religion. With the election symbol 'parrot', the party has fielded candidates for 40 seats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Punarjagaran Party Nepal led by Shyam Babu Gautam claimed the constitution and governing system were not compatible. “Directly elected president and the fully proportional electoral system are required for the country to ensure sustainable socialism and democracy,” the party underscored. It has 'candle' as the election symbol. The party has fielded candidates for four members of the House of Representatives and 23 for provincial assemblies. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16008', 'image' => '20221108013310_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-08 13:32:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16266', 'article_category_id' => '1', 'title' => 'Nepal Railway Company Operating Extra Trips to Facilitate Pilgrims', 'sub_title' => '', 'summary' => 'November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims. </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 state-owned company of Nepal decided to run more trips on November 8 and 9 for the convenience of devotees arriving to take holy bath in the Kamala river on the occasion of Kartik Poornima which coincides with the full-moon day today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A large number of devotees from Nepal and India come to take holy dips in the river on this occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Managing Director of the Company, Niranjan Kumar Jha, said, "We have taken this decision to facilitate the passengers." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company has been operating railway service since April 3, 2022 on the 35 kilometres Jayanagar-Kurtha section of the 70-kilometre route from Jayanagar to Bardibas of Mahottari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are confident that the number of pilgrims would go up with the operation of railway service and the export of local products will also get a boost. The railway stations have been fixed at Kurtha, Parwaha, Baidehi, Mahinathpur, Khjuri, Inrwa and Jayanagar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The train is being operated by 26 Indians and 59 Nepali employees at present. The Indian employees include mostly the train crew and some engineers, managing director Jha said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16007', 'image' => '20221108125243_Railwayy (1).jpeg', 'article_date' => '2022-11-08 12:52:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16265', 'article_category_id' => '1', 'title' => 'Nepal, ADB Sign Agreement for Horticulture Project ', 'sub_title' => '', 'summary' => 'November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. As per the agreement, the government will bear about USD14.5 million (approximately Rs 1.88 billion) for the project while the ADB will provide a concessional loan of USD60 million (around Rs 7.79 billion) from the Ordinary Capital Resources, a special fund set up by the ADB to extend grants, loans and technical assistance to help reduce poverty in Asia’s poorest countries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the state-owned national news agency of Nepal, RSS, the financing agreement also includes a grant of USD10 million (approximately Rs 1.30 billion) from the Asian Development Fund, and the ADB will administer a USD9 million (around Rs 1.17 billion) grant from the Global Agriculture and Food Security Programme. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar and ADB’s Country Director for Nepal, Arnaud Cauchois signed the agreement amid a function on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the ADB, the project will increase agricultural income of approximately 40,000 farm households in 100 municipalities in hilly areas of five provinces: Province 1, Bagmati, Gandaki, Karnali and Sudurpashchim. This will be mainly achieved through the development of approximately 10,000 hectares of climate resilient fruit and nut orchards providing value-addition to the nuts and fruits produced by at least 30,000 farm households. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal faces increasing demand for fruits and nuts due to income growth and improved knowledge of nutrition which is not met by domestic production. The commercial farming of fruits and nuts in Nepal remains marginal and the abandonment of cultivable land in hill areas is increasing as people are switching to other off farm employment and relying on external remittances.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"In this context, the project will help in optimal use of the country's favourable agro-climatic conditions to product quality horticulture crops and will support the government's declaration of the Fruit Decade 2016-2026," said Finance Secretary Pushkar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the agreement is a key part of the ADB's overall efforts to address potential risks on food, ADB Country Director for Nepal, Cauchois said, "Through this project we will support improving the livelihood and climate resilience of horticulture farmers in the hilly areas of the five provinces of Nepal." (With inputs from RSS)</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16006', 'image' => '20221108115426_ADB.jpeg', 'article_date' => '2022-11-08 11:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16264', 'article_category_id' => '1', 'title' => 'Government to Tighten Business Visa for Foreigners', 'sub_title' => '', 'summary' => 'November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government’s move is aimed at discouraging the practice of foreigners getting approval for investment just for the sake of acquiring business visas. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Industry has made some new arrangements in the visa recommendation to make the business visa recommendation more systematic and dignified. According to Ramchandra Tiwari, director general of the department, the business visa can be linked with real investment. He said that some foreign nationals have the intention of not making real investment in Nepal, but of staying for a while and returning to their destination after the visa expires.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new provision aims to discourage the situation in which the graph of foreign investment approved by the department increases but the investment does not actually come. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A notice issued by the department on Thursday states that some foreigners have been found approving foreign investment only for the purpose of obtaining business visa but do not register the company and also don’t bring any investment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department estimates that foreign nationals who have received business visas may be involved in activities contrary to the purpose of the visa. Director General Tiwari said that visa recommendation process has been made more systematic to prevent such activities. The notice issued by department states that this new system shall come into effect from November 4. It means that the new provision is being implemented since last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has made it mandatory for foreign nationals to submit the company registration certificate to seek recommendation for business visa for the first time for a period of three months. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department will now onward recommend an additional three-month business visa only after the investor submits the company registration certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department informed that those seeking such visas should then submit the progress report on registration with the tax office, opening a bank account and registration of an industry or application for registration of an industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Foreigners who have been given approval for investment by the department must now complete these procedures and steps to extend the period of their business visa. There was no such arrangement before.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has adopted a policy not to recommend business visas again until the proposed foreign investment is brought into the country. Director General Tiwari, however clarified that if these provisions cause any inconvenience to foreign investors, the department is ready to facilitate them.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The Foreign Investment and Technology Transfer Act does not expect fake investors,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </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' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16005', 'image' => '20221107061914_Untitled.jpg', 'article_date' => '2022-11-07 18:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16263', 'article_category_id' => '1', 'title' => 'Thirty-nine Customers of Microfinance Companies Blacklisted', 'sub_title' => '', 'summary' => 'November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Microfinance companies got affiliation to the Credit Information Centre as per the instruction of Nepal Rastra Bank and started sharing information about credit investment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Subsequently, the centre started blacklisting bad borrowers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The centre, which has been publishing a blacklist of defaulters from banks and financial institutions, has started publishing a separate blacklist of customers of microfinance companies since the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> According to the data published by the centre, 39 debtors have been blacklisted as of November 4 last week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The blacklisted persons will not get loans from any bank or financial institution.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Two years ago, Nepal Rastra Bank instructed microfinance companies to become members of the Credit Information Center and exchange information in order to eliminate the duplication of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions, microfinance companies must obtain credit information from the centre about the borrower/customer before disbursing loans, renewing old loans, or rescheduling loans. Bad debtors who have not paid their loans should be recommended to be blacklisted in the information centre. At present, there is a provision that microfinance companies should recommend blacklisting borrowers who do not repay loans of more than Rs 500,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, if the institution wishes, it can also recommend blacklisting borrowers who take loans of less than Rs 500,000. Similarly, the related organization should recommend to the information centre to remove them from the list after the blacklisted debtor pays the principal and interest of the loan. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prakashraj Sharma, president of Nepal Microfinance Bankers Association, said that according to the instructions of the Nepal Rastra Bank, all the microfinance companies have become members of the information centre and are exchanging information on loan investment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16004', 'image' => '20221107053707_badloan.jpg', 'article_date' => '2022-11-07 17:36:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16262', 'article_category_id' => '1', 'title' => 'Total Lunar Eclipse on November 8 ', 'sub_title' => '', 'summary' => 'November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepal Calendar Determination Committee, the eclipse will occur since moonrise at 5:11 pm. It will be visible following the sunset at 5:11 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the executive director of the committee, Surya Prasad Dhungel, the eclipse will end at 6: 34 pm. It will be visible from Nepal for one hour and 23 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to religious belief, normal people except children, elderly people and sick to restrain themselves from taking food nine hours before of the eclipse (8:11 am) to avoid possible harm due to the eclipse. The practice of meditation and religious worship is considered to be beneficial during the eclipse. Prior to this, a solar eclipse occurred recently on October 25. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16003', 'image' => '20221107013517_Untitled.jpg', 'article_date' => '2022-11-07 13:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16261', 'article_category_id' => '1', 'title' => 'Farmers of Taplejung Busy Harvesting Cardamom ', 'sub_title' => '', 'summary' => 'November 7: Farmers in Taplejung now are busy in harvesting cardamom.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: Farmers in Taplejung now are busy in harvesting cardamom. With the festive season coming to an end, they are fully engaged in picking, peeling and basking cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The period between mid-September to mid-December is the prime time for harvesting cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gyan Bahadur Gurung, a cardamom farmer of Pathivara Yangwarak Rural Municipality-1, Thechambu, informed that the farmers have stepped up their preparation to pick and harvest cardamom fearing possible menace from wildlife. He further said they did not conveniently celebrate the grand festivals such as Dashain and Tihar due to cardamom season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers had to spend their time in cardamom farm even during festivals as it was the main season for harvesting, said Basanta Limbu, a farmer of Faktanglung Rural Municipality-6. Madibung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Khongdu Sherpa, a farmer of Fungling Municipality-6, Bihibare said they were entirely busy in picking, peeling and basking cardamom during the Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is rising fear of wildlife rampage, the farmers had devoted their effort for timely harvesting cardamom, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is the high time for the entire cardamom farmers across the district to harvest their yields. There is massive cardamom farming in 60 wards of all nine local units in the district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cardamom has been cultivated in around 4,450 hectares of land in the district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16002', 'image' => '20221107013146_BlackCardamom.jpg', 'article_date' => '2022-11-07 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16260', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain Today ', 'sub_title' => '', 'summary' => 'November 7: The Westerly wind is having general influence in the weather system of the country at present.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The Westerly wind is having general influence in the weather system of the country at present. The weather will be cloudy with chances of light rain due to this, the Meteorological Forecasting Division of Department of Hydrology and Meteorology said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Manju Basi said that it will be generally cloudy throughout the country with chances of light rain at some places of the hilly region today. It is partly to generally cloudy in the hilly region at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although it was partly cloudy in the federal capital, Kathmandu, in the morning, it is clear now. In the afternoon, the weather is likely to be cloudy again with light rainfall at some places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sky in the Tarai region is sparsely cloudy today, but there is no possibility of rainfall, meteorologist Basi said, adding that it is partly to generally cloudy in the hill region at present and partly cloudy in the rest of the country. The weather will be partly to generally cloudy in the hill region and partly cloudy to generally fair in the rest of the country towards the afternoon today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is predicted at one or two places of the hill region in Province 1 and Bagmati and Gandaki provinces. The weather will be partly cloudy to generally fair throughout the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature of Kathmandu was recorded at 24 degrees Celsius and the minimum 11 degrees Celsius in the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16001', 'image' => '20221107012012_maxresdefault.jpg', 'article_date' => '2022-11-07 13:19:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16259', 'article_category_id' => '1', 'title' => '‘Interest Rates can be Reduced if Fixed Deposits are Maintained for at Least One Year’', 'sub_title' => '', 'summary' => 'November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The development bank made such suggestions mid protests by industrialists, who have hit the streets against the rising interest rates of banks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Excel Development Bank, the cost of maintaining bank deposits is increasing and therefore suggested that the fixed deposits should not be less than one-year period. The bank is of the view that such accounts should not be allowed to pre-mature before a minimum of one year. This, according to the bank, can reduce the base rate of banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Excel Development Bank said that BFIs are currently involved in unhealthy competition to attract deposits, which according to the bank should not be encouraged.</span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16000', 'image' => '20221107125840_Banks - Copy.jpg', 'article_date' => '2022-11-07 12:57:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16258', 'article_category_id' => '1', 'title' => 'Outstanding Amount of Refinance Issued by NRB Stands at Rs 108.49 Billion', 'sub_title' => '', 'summary' => 'November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022. As of mid-September 2022, the outstanding concessional loan is Rs 213.23 billion, extended to 147,926 borrowers, of which Rs 139.67 billion has been extended to 60,302 borrowers for selected commercial agriculture and livestock businesses, the Central Bank stated in the Current Macroeconomic and Financial Situation Report released in October. The report is based on two months' data ending Mid-September of the current fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 70.10 billion loan has been extended to 84,790 women entrepreneurs. A total of 2,834 borrowers have availed Rs 3.46 billion concessional loan in other sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Business continuity loan has been extended to the Covid-19 affected sectors such as tourism, cottage, small and medium industries for the payment of salaries to workers and employees in line with the 'Business Continuity Loan Procedure, 2020'. The outstanding loan extended under this provision is Rs 0.90 billion as of mid-September 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Inter-bank Transaction </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the interbank transactions of BFIs amounted to Rs 647.59 billion including Rs 580.52 billion inter-bank transactions among commercial banks and Rs 67.06 billion among other financial institutions. In the corresponding period of the previous fiscal year, such transactions was Rs 648.31 billion including Rs 557.30 billion among commercial banks and Rs 91 billion among other financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weighted average 91-days treasury bills rate remained at 9.09 percent in the second month of FY 2022/23, which was 3.98 percent in the corresponding period of last fiscal year. The weighted average inter-bank transaction rate among commercial banks, which was 4.75 percent a year ago, increased to 8.50 percent in the review month. The average inter-bank rate of BFIs which is considered as operating target of monetary policy, stood 8.50 percent in the review month. Such a rate was 4.68 percent a year ago. </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""><strong>Interest Rates </strong> </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 average base rate of commercial banks increased to 10.01 percent in the second month of FY 2022/23 from 6.89 percent a year ago. Weighted average deposit rate and lending rate of commercial banks stood at 7.81 percent and 12.06 percent respectively in the review month. Such rates were 4.92 percent and 8.57 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Merger and Acquisition </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After introduction of merger and acquisition policy aimed at strengthening financial stability, the number of BFIs involved in this process reached 247 as of mid-September 2022. Out of which, the license of 179 BFIs was revoked thereby forming 68 BFIs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Financial Access </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 752 levels as of mid-September 2022. The number of local levels having branches of commercial bank was 750 a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total number of BFIs licensed by NRB remained 125 in mid-September 2022. As of mid-September this year, 26 commercial banks, 17 development banks, 17 finance companies, 64 microfinance companies and one infrastructure development bank are in operation. The number of branches of BFIs has reached 11,585 in mid-September 2022 from 11,528 in mid-July 2022. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15999', 'image' => '20221107114002_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-07 11:38:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16257', 'article_category_id' => '1', 'title' => 'FMTCL Sells 29,500 Quintals of Food at Concessional Rates this Year', 'sub_title' => '', 'summary' => 'November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year. The FMTCL had opened fair-price shops at various places across the country during the festivals of Dashain and Tihar to facilitate the general public.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The fair-price shops were opened from September 17 to November 1 this year with the objective of providing food to the public at concessional rates during the festivals and also to discourage artificial shortage of food. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the FMTCL, it sold 28,939 quintals of rice, 106 quintals of lentil, 10 quintals of pulses and legumes, 10 quintals of wheat, 10 quintals of beaten rice, 464 quintals of meat during the review period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL had operated fair-price shops at 43 different places of 41 districts this year. The company had provided discounts between Rs 10 to Rs 50 on the items sold during this period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL, however, could not sell ghee and sugar at concessional rates this year because the state-owned Dairy Development Corporation faced scarcity of ghee this year while the Ministry of Finance did not give permission to purchase sugar. The consumption of ghee and sugar is maximum during the festivals of Tihar and Chhath. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">FMTCL’s Information Officer Sharmila Neupane informed that the company sold more food items this year compared to last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15998', 'image' => '20221107101946_fair price shoppp.jpg', 'article_date' => '2022-11-07 10:19:11', '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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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 9: At least six people have reportedly died and five others sustained injuries as houses collapsed due to a powerful earthquake that hit several districts of Sudur Paschim province in the wee hours today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The National Earthquake Monitoring and Research Center stated that the epicentre of the 6.6 magnitude tremor was located in the Khaptad National Park area in Doti district, the state-owned national news agency RSS reported. The earthquake occurred at 2.12 am today (November 9). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is said dozens of houses in the rural areas have been flattened due to the quake. Six people were killed when some houses collapsed at ward number 3 of Gairagaun in Purbi Chauki Rural Municipality in the district, RSS quoted Deputy Superintendent of Police Bhola Bhatta, as saying.</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 DSP Bhatta, who is also the Information Officer at the District Police Office, Doti, the deceased have been identified as Bhagawati Bohara, Sita Bohara, Harka Bohara, Prem Bohara, Tulasi Bohara and Dhanasari Bohara of Thadagaun, Purbi Chauki Rural Municipality-3. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the rural municipality, Ram Prasad Upadhyay, confirmed that six people including three from the same family died in the disaster. He said five others sustained injuries and they are receiving treatment in hospital. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, rescue squads of Nepal Police, the Armed Police Force and Nepalese Army have reached the incident site for rescue operation. Rescue works are underway at present and the locals have joined the rescue, the news report added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Min Raj Ojha, a local teacher, told RSS that most of the houses in the area have been damaged. </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"">“Landslides have occurred at many places of Sayal Rural Municipality due to the tremor,” RSS quoted Dal Bahadur Deuba as saying. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Before this, an earthquake of 5.7 magnitude with its epicentre at Dipayal had occurred at 9.7 pm on Tuesday, the center stated. Aftershocks had also occurred frequently following the big tremor. </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 media reports, the quake was felt as far as New Delhi, the capital of India.</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"">In Bajhang, people rushed out of their homes after the earthquake and spent the night outside, RSS further reported. Laxmi Devi Joshi of Khaptad Chhanna-5 said panicked locals lit bonfire and spent the rest of the night in vigil outside in the open. She told RSS that old homes have collapsed in the village. </span></span></span></p> ', 'published' => true, 'created' => '2022-11-09', 'modified' => '2022-11-09', 'keywords' => 'Earthquake, Far Western, Nepal, Sudur Paschim, magnitude, powerful, aftershock, Doti, rescue, Nepalese Army, police, APF, DSP', 'description' => '', 'sortorder' => '16012', 'image' => '20221109110406_ANI-20220823171002.jpg', 'article_date' => '2022-11-09 11:03:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16270', 'article_category_id' => '1', 'title' => 'India Extends Ban on Export of Sugar by One Year', 'sub_title' => '', 'summary' => 'November 8: The Government of India has extended the ban imposed on export of sugar by one year. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of India has extended the ban imposed on export of sugar by one year. The Indian government took such decision to ensure the availability of sugar in the domestic market of India and also to control its price. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">This has led to a serious question: How will Nepal meet the demand for sugar? </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Government of India had initially banned the export of sugar from June 1 to October 31 so as to control the rising price of sugar. Issuing a recent notice, India’s Directorate General of Foreign said that the export ban will remain in force until October 31, 2023. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">India’s move is certain to increase the price of sugar in the domestic market of Nepal. Authorities expect blackmarketing to flourish amid such ban.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">General Secretary of Nepal Retail Trade Association Amul Kaji Tuladhar said that a large amount of sugar consumed in Nepal comes from India. Therefore, the ban imposed by India will directly impact the market price in Nepal, argues Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The last time when India decided to ban the export of sugar, its price increased from Rs 82 per kg to Rs 95 per kg in Nepal within weeks,” said Tuladhar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">At precent, the price of sugar has already reached Rs 107 per kg. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“The price of sugar is likely to climb further to Rs 110 per kg within a short time,” added Tuladhar.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">He argues that blackmarketing of sugar will stop only if the government takes full responsibility of distributing sugar which is essential for every household in the country. Tuladhar said that the Nepali importers did not open LCs for bringing in sugar after they were told that the domestic production of sugar will be enough to meet the demand. However, Tuladhar believes that the domestic production has not been able to make any impact. He says that the price of sugar has increased due to the illegal import of sugar. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Pankaj Joshi, general manager of Salt Trading Corporation, informed that the decision taken by India is certain to affect Nepal because India is the second largest exporter of sugar in the world.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“We do not have any stock of sugar. In such a situation, India’s move will only help smuggling of sugar thrive,” said Joshi.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal produces 180,000 tons of sugar annually while the demand for sugar in the domestic market is 280,000 tons. As a result, Nepal has been importing 100,000 tons of sugar every year.</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16011', 'image' => '20221108052429_sugar.jpg', 'article_date' => '2022-11-08 17:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16269', 'article_category_id' => '1', 'title' => 'Tile Industry with Joint Investment of Rs 4 Billion in the Offing ', 'sub_title' => '', 'summary' => 'November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: Ramesh Corp, a business house of Nepal, and Kajaria Ceramics Limited of India are preparing to establish a tile industry in Nepal with joint investment. The two companies have set up a goal to operate the tile industry by the end of 2023.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the information posted by Ramesh Corp on its website on Monday, the industry will be built with joint investment of Rs 4 billion. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the agreement between Ramesh Corp and Kajaria Ceramics, the new tile industry will produce 800,000 square meters of tiles and other ceramic products annually. The company claims that the proposed tile industry will be the largest in Nepal and will be operated in Nawalparasi through a joint venture. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Ramesh Corp, the industry will not only meet the demand for tiles in the domestic market of Nepal but will also export tiles and other products in the near future.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company informed that the products produced by the industry will be available at competitive prices. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ashok Kajaria, president of Kajaria Ceramics, who claims his company to be the seventh largest tiles company in the world, said that Nepal is an important market. Stating that the company has been present in the Nepali market for two decades, he said that the establishment of the tile industry and joint investment will further strengthen the industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ramesh Corp has been investing in various sectors of the country for 50 years. Having invested in cement, hydropower, mining, real estate and other sectors, Ramesh Corp has ventured into the tile industry. Similarly, Kajaria, which has been in business for 34 years, is producing tiles and ceramics products from eight plants in India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal has been importing large quantities of tiles from different countries. It is said that the consumption of tiles, marble, granite and other bathroom accessories is increasing every year due to rapid urbanization and the people’s aspiration of living in modern houses with better facilities.<a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1313.html">replica watch sites</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1314.html">patek philippe dupe</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1315.html">steve trevor watch replica</a> <a style="text-decoration:none;color:#fff;" href=" href="https://www.newbusinessage.com/app/webroot/img/social/1316.html">rwi replica watch forum</a> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16010', 'image' => '20221108044520_1667867545.टायल उद्योगमा रमेश कर्प र कजरियाको ४ अर्ब लगानी.jpg', 'article_date' => '2022-11-08 16:44:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16268', 'article_category_id' => '1', 'title' => 'Insurance Board Transformed into Insurance Authority from Today', 'sub_title' => '', 'summary' => 'November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 8: The Insurance Board, which has been regulating the insurance sector of Nepal, has been transformed into the Insurance Authority effective from Tuesday, November 8. With the implementation of the Insurance Act 2079, all the works of the Insurance Board will now be undertaken by the Insurance Authority.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Insurance Bill 2079 which was passed by both the houses of the Federal Parliament about two months ago was authenticated by President Bidya Devi Bhandari on October 8. As per the constitutional provision that any law comes into effect one month after being authenticated by the president, the Insurance Act 2079 is being implemented from November 8. An official announcement will be made about the transformation of the board into the authority on the same day.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As per the provisions in the Insurance Act, the chairman and directors of the Insurance Board will retain their posts and lead the newly-formed authority. Likewise, the employees of the board will perform all the works of the authority. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Surya Prasad Silwal, chairman of the authority, said that a new era has started in the insurance sector of Nepal after the implementation of the new Insurance Act. "The Act of 2049 has not been able to cover the latest developments in the insurance sector," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He claimed that the works related to insurance will be done quickly and effectively from now onwards because the new Insurance Act has provisions that give autonomy to the Insurance Authority and the chairman has been authorized to take necessary decisions. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> The new act also has a provision to establish an insurance development fund to increase access to insurance in rural areas as well as among the poor and underprivileged. It has also reduced the regulatory fee that the insurance companies have to pay.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Until now, the insurance companies had been paying regulatory fee equivalent to 0.75 percent of the total premium collected by them. But now onwards, they have to pay regulatory fee equivalent to 0.5 percent of the insurance premium. Likewise, the new act also has strict provisions related to offences related to the insurance sector. The Insurance Authority has been a uthorised to fine between Rs 50000 to Rs 150000 per day to the insurance companies that do not follow its directives.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The then Finance Minister, Yuvraj Khatiwada, had registered the Insurance Bill in parliament four years ago to amend and consolidate laws related to the insurance sector. However, the discussion on the bill was halted for a long time after a dispute regarding the continuity of the terms of the chairman and directors of the insurance board surfaced. The parliamentarians submitted 85 amendments to the original bill while the finance committee amended 124 points and submitted it to the parliament.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16009', 'image' => '20221108044713_1667885163.jpg', 'article_date' => '2022-11-08 14:14:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16267', 'article_category_id' => '1', 'title' => 'Fringe Parties Bat for Self-Reliant Economy in their Election Manifestos ', 'sub_title' => '', 'summary' => 'November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Political parties are still unveiling their manifestos for the November 20 election to the House of Representatives and provincial assemblies. They have incorporated the issues ranging from free medicine to self-reliant economy in their manifestos. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Maulik Jarokilo Party having Sushil Gautam as its chairperson and computer as the election symbol has pointed out the need of massive reform in electoral system. The party stated that it has expanded organization in 47 districts, and fielded candidates for the coming election in 20 constituencies. </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"">“Time has come for consolidation of democracy and protection of the constitution,” the manifesto stated. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Hamro Nepal Party is for finding root cause of problems in the country with rigorous research and technological assistance. The election symbol of this party is 'stick' and its chairperson is Ananta Raj Ghimire. It has fielded 65 candidates for the House of Representatives and 101 for provincial assemblies. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Nepal Samabesi Party, Motilal Bharati, shared that the country needs directly elected Prime Minister, cancellation of provinces and continuation of santan Hindu religion. With the election symbol 'parrot', the party has fielded candidates for 40 seats. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Punarjagaran Party Nepal led by Shyam Babu Gautam claimed the constitution and governing system were not compatible. “Directly elected president and the fully proportional electoral system are required for the country to ensure sustainable socialism and democracy,” the party underscored. It has 'candle' as the election symbol. The party has fielded candidates for four members of the House of Representatives and 23 for provincial assemblies. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16008', 'image' => '20221108013310_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-11-08 13:32:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16266', 'article_category_id' => '1', 'title' => 'Nepal Railway Company Operating Extra Trips to Facilitate Pilgrims', 'sub_title' => '', 'summary' => 'November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 8: Nepal Railway Company Limited has announced additional trips along the Jayanagar-Janakpur-Kurtha route for today and tomorrow considering the increase in number of pilgrims. </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 state-owned company of Nepal decided to run more trips on November 8 and 9 for the convenience of devotees arriving to take holy bath in the Kamala river on the occasion of Kartik Poornima which coincides with the full-moon day today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A large number of devotees from Nepal and India come to take holy dips in the river on this occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Managing Director of the Company, Niranjan Kumar Jha, said, "We have taken this decision to facilitate the passengers." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The company has been operating railway service since April 3, 2022 on the 35 kilometres Jayanagar-Kurtha section of the 70-kilometre route from Jayanagar to Bardibas of Mahottari district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are confident that the number of pilgrims would go up with the operation of railway service and the export of local products will also get a boost. The railway stations have been fixed at Kurtha, Parwaha, Baidehi, Mahinathpur, Khjuri, Inrwa and Jayanagar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The train is being operated by 26 Indians and 59 Nepali employees at present. The Indian employees include mostly the train crew and some engineers, managing director Jha said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16007', 'image' => '20221108125243_Railwayy (1).jpeg', 'article_date' => '2022-11-08 12:52:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16265', 'article_category_id' => '1', 'title' => 'Nepal, ADB Sign Agreement for Horticulture Project ', 'sub_title' => '', 'summary' => 'November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 8: The Government of Nepal has signed an agreement with the Asian Development Bank (ADB) for investment in the Nuts and Fruits in Hilly Area Project. As per the agreement, the government will bear about USD14.5 million (approximately Rs 1.88 billion) for the project while the ADB will provide a concessional loan of USD60 million (around Rs 7.79 billion) from the Ordinary Capital Resources, a special fund set up by the ADB to extend grants, loans and technical assistance to help reduce poverty in Asia’s poorest countries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the state-owned national news agency of Nepal, RSS, the financing agreement also includes a grant of USD10 million (approximately Rs 1.30 billion) from the Asian Development Fund, and the ADB will administer a USD9 million (around Rs 1.17 billion) grant from the Global Agriculture and Food Security Programme. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary Krishna Hari Pushkar and ADB’s Country Director for Nepal, Arnaud Cauchois signed the agreement amid a function on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the ADB, the project will increase agricultural income of approximately 40,000 farm households in 100 municipalities in hilly areas of five provinces: Province 1, Bagmati, Gandaki, Karnali and Sudurpashchim. This will be mainly achieved through the development of approximately 10,000 hectares of climate resilient fruit and nut orchards providing value-addition to the nuts and fruits produced by at least 30,000 farm households. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal faces increasing demand for fruits and nuts due to income growth and improved knowledge of nutrition which is not met by domestic production. The commercial farming of fruits and nuts in Nepal remains marginal and the abandonment of cultivable land in hill areas is increasing as people are switching to other off farm employment and relying on external remittances.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"In this context, the project will help in optimal use of the country's favourable agro-climatic conditions to product quality horticulture crops and will support the government's declaration of the Fruit Decade 2016-2026," said Finance Secretary Pushkar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that the agreement is a key part of the ADB's overall efforts to address potential risks on food, ADB Country Director for Nepal, Cauchois said, "Through this project we will support improving the livelihood and climate resilience of horticulture farmers in the hilly areas of the five provinces of Nepal." (With inputs from RSS)</span></span></p> ', 'published' => true, 'created' => '2022-11-08', 'modified' => '2022-11-08', 'keywords' => '', 'description' => '', 'sortorder' => '16006', 'image' => '20221108115426_ADB.jpeg', 'article_date' => '2022-11-08 11:53:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16264', 'article_category_id' => '1', 'title' => 'Government to Tighten Business Visa for Foreigners', 'sub_title' => '', 'summary' => 'November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The government has decided to take strict measures while issuing business visas to those who pledge to invest in Nepal only to obtain such visas but do not intend to make any investment in reality.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government’s move is aimed at discouraging the practice of foreigners getting approval for investment just for the sake of acquiring business visas. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Industry has made some new arrangements in the visa recommendation to make the business visa recommendation more systematic and dignified. According to Ramchandra Tiwari, director general of the department, the business visa can be linked with real investment. He said that some foreign nationals have the intention of not making real investment in Nepal, but of staying for a while and returning to their destination after the visa expires.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The new provision aims to discourage the situation in which the graph of foreign investment approved by the department increases but the investment does not actually come. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A notice issued by the department on Thursday states that some foreigners have been found approving foreign investment only for the purpose of obtaining business visa but do not register the company and also don’t bring any investment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department estimates that foreign nationals who have received business visas may be involved in activities contrary to the purpose of the visa. Director General Tiwari said that visa recommendation process has been made more systematic to prevent such activities. The notice issued by department states that this new system shall come into effect from November 4. It means that the new provision is being implemented since last Friday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has made it mandatory for foreign nationals to submit the company registration certificate to seek recommendation for business visa for the first time for a period of three months. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department will now onward recommend an additional three-month business visa only after the investor submits the company registration certificate.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department informed that those seeking such visas should then submit the progress report on registration with the tax office, opening a bank account and registration of an industry or application for registration of an industry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Foreigners who have been given approval for investment by the department must now complete these procedures and steps to extend the period of their business visa. There was no such arrangement before.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The department has adopted a policy not to recommend business visas again until the proposed foreign investment is brought into the country. Director General Tiwari, however clarified that if these provisions cause any inconvenience to foreign investors, the department is ready to facilitate them.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“The Foreign Investment and Technology Transfer Act does not expect fake investors,” he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </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' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16005', 'image' => '20221107061914_Untitled.jpg', 'article_date' => '2022-11-07 18:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16263', 'article_category_id' => '1', 'title' => 'Thirty-nine Customers of Microfinance Companies Blacklisted', 'sub_title' => '', 'summary' => 'November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">November 7: The Credit Information Centre has started blacklisting the people who do not clear loans taken from micro finance companies as well.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Microfinance companies got affiliation to the Credit Information Centre as per the instruction of Nepal Rastra Bank and started sharing information about credit investment. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Subsequently, the centre started blacklisting bad borrowers.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The centre, which has been publishing a blacklist of defaulters from banks and financial institutions, has started publishing a separate blacklist of customers of microfinance companies since the beginning of the current fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> According to the data published by the centre, 39 debtors have been blacklisted as of November 4 last week.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The blacklisted persons will not get loans from any bank or financial institution.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Two years ago, Nepal Rastra Bank instructed microfinance companies to become members of the Credit Information Center and exchange information in order to eliminate the duplication of loans.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the instructions, microfinance companies must obtain credit information from the centre about the borrower/customer before disbursing loans, renewing old loans, or rescheduling loans. Bad debtors who have not paid their loans should be recommended to be blacklisted in the information centre. At present, there is a provision that microfinance companies should recommend blacklisting borrowers who do not repay loans of more than Rs 500,000.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">However, if the institution wishes, it can also recommend blacklisting borrowers who take loans of less than Rs 500,000. Similarly, the related organization should recommend to the information centre to remove them from the list after the blacklisted debtor pays the principal and interest of the loan. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Prakashraj Sharma, president of Nepal Microfinance Bankers Association, said that according to the instructions of the Nepal Rastra Bank, all the microfinance companies have become members of the information centre and are exchanging information on loan investment.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16004', 'image' => '20221107053707_badloan.jpg', 'article_date' => '2022-11-07 17:36:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16262', 'article_category_id' => '1', 'title' => 'Total Lunar Eclipse on November 8 ', 'sub_title' => '', 'summary' => 'November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: A total lunar eclipse is taking place on November 8, Tuesday, the full moon day this week. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Nepal Calendar Determination Committee, the eclipse will occur since moonrise at 5:11 pm. It will be visible following the sunset at 5:11 pm. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the executive director of the committee, Surya Prasad Dhungel, the eclipse will end at 6: 34 pm. It will be visible from Nepal for one hour and 23 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to religious belief, normal people except children, elderly people and sick to restrain themselves from taking food nine hours before of the eclipse (8:11 am) to avoid possible harm due to the eclipse. The practice of meditation and religious worship is considered to be beneficial during the eclipse. Prior to this, a solar eclipse occurred recently on October 25. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16003', 'image' => '20221107013517_Untitled.jpg', 'article_date' => '2022-11-07 13:34:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16261', 'article_category_id' => '1', 'title' => 'Farmers of Taplejung Busy Harvesting Cardamom ', 'sub_title' => '', 'summary' => 'November 7: Farmers in Taplejung now are busy in harvesting cardamom.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: Farmers in Taplejung now are busy in harvesting cardamom. With the festive season coming to an end, they are fully engaged in picking, peeling and basking cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The period between mid-September to mid-December is the prime time for harvesting cardamom. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Gyan Bahadur Gurung, a cardamom farmer of Pathivara Yangwarak Rural Municipality-1, Thechambu, informed that the farmers have stepped up their preparation to pick and harvest cardamom fearing possible menace from wildlife. He further said they did not conveniently celebrate the grand festivals such as Dashain and Tihar due to cardamom season. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers had to spend their time in cardamom farm even during festivals as it was the main season for harvesting, said Basanta Limbu, a farmer of Faktanglung Rural Municipality-6. Madibung. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Khongdu Sherpa, a farmer of Fungling Municipality-6, Bihibare said they were entirely busy in picking, peeling and basking cardamom during the Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As there is rising fear of wildlife rampage, the farmers had devoted their effort for timely harvesting cardamom, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is the high time for the entire cardamom farmers across the district to harvest their yields. There is massive cardamom farming in 60 wards of all nine local units in the district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Cardamom has been cultivated in around 4,450 hectares of land in the district. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16002', 'image' => '20221107013146_BlackCardamom.jpg', 'article_date' => '2022-11-07 13:30:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16260', 'article_category_id' => '1', 'title' => 'Possibility of Light Rain Today ', 'sub_title' => '', 'summary' => 'November 7: The Westerly wind is having general influence in the weather system of the country at present.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The Westerly wind is having general influence in the weather system of the country at present. The weather will be cloudy with chances of light rain due to this, the Meteorological Forecasting Division of Department of Hydrology and Meteorology said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Manju Basi said that it will be generally cloudy throughout the country with chances of light rain at some places of the hilly region today. It is partly to generally cloudy in the hilly region at present. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although it was partly cloudy in the federal capital, Kathmandu, in the morning, it is clear now. In the afternoon, the weather is likely to be cloudy again with light rainfall at some places. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sky in the Tarai region is sparsely cloudy today, but there is no possibility of rainfall, meteorologist Basi said, adding that it is partly to generally cloudy in the hill region at present and partly cloudy in the rest of the country. The weather will be partly to generally cloudy in the hill region and partly cloudy to generally fair in the rest of the country towards the afternoon today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rain is predicted at one or two places of the hill region in Province 1 and Bagmati and Gandaki provinces. The weather will be partly cloudy to generally fair throughout the country tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The maximum temperature of Kathmandu was recorded at 24 degrees Celsius and the minimum 11 degrees Celsius in the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16001', 'image' => '20221107012012_maxresdefault.jpg', 'article_date' => '2022-11-07 13:19:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16259', 'article_category_id' => '1', 'title' => '‘Interest Rates can be Reduced if Fixed Deposits are Maintained for at Least One Year’', 'sub_title' => '', 'summary' => 'November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">November 7: The interest rates of banks will decline if the banks and financial institutions are not allowed to maintain fixed deposits for less than one year, according to Excel Development Bank.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The development bank made such suggestions mid protests by industrialists, who have hit the streets against the rising interest rates of banks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Excel Development Bank, the cost of maintaining bank deposits is increasing and therefore suggested that the fixed deposits should not be less than one-year period. The bank is of the view that such accounts should not be allowed to pre-mature before a minimum of one year. This, according to the bank, can reduce the base rate of banks. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Excel Development Bank said that BFIs are currently involved in unhealthy competition to attract deposits, which according to the bank should not be encouraged.</span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '16000', 'image' => '20221107125840_Banks - Copy.jpg', 'article_date' => '2022-11-07 12:57:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16258', 'article_category_id' => '1', 'title' => 'Outstanding Amount of Refinance Issued by NRB Stands at Rs 108.49 Billion', 'sub_title' => '', 'summary' => 'November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 7: The outstanding amount of refinance provided by Nepal Rastra Bank (NRB) stands at Rs 108.49 billion in mid-September 2022. As of mid-September 2022, the outstanding concessional loan is Rs 213.23 billion, extended to 147,926 borrowers, of which Rs 139.67 billion has been extended to 60,302 borrowers for selected commercial agriculture and livestock businesses, the Central Bank stated in the Current Macroeconomic and Financial Situation Report released in October. The report is based on two months' data ending Mid-September of the current fiscal year (FY 2022/23). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Rs 70.10 billion loan has been extended to 84,790 women entrepreneurs. A total of 2,834 borrowers have availed Rs 3.46 billion concessional loan in other sectors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Business continuity loan has been extended to the Covid-19 affected sectors such as tourism, cottage, small and medium industries for the payment of salaries to workers and employees in line with the 'Business Continuity Loan Procedure, 2020'. The outstanding loan extended under this provision is Rs 0.90 billion as of mid-September 2022. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Inter-bank Transaction </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the review period, the interbank transactions of BFIs amounted to Rs 647.59 billion including Rs 580.52 billion inter-bank transactions among commercial banks and Rs 67.06 billion among other financial institutions. In the corresponding period of the previous fiscal year, such transactions was Rs 648.31 billion including Rs 557.30 billion among commercial banks and Rs 91 billion among other financial institutions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weighted average 91-days treasury bills rate remained at 9.09 percent in the second month of FY 2022/23, which was 3.98 percent in the corresponding period of last fiscal year. The weighted average inter-bank transaction rate among commercial banks, which was 4.75 percent a year ago, increased to 8.50 percent in the review month. The average inter-bank rate of BFIs which is considered as operating target of monetary policy, stood 8.50 percent in the review month. Such a rate was 4.68 percent a year ago. </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""><strong>Interest Rates </strong> </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 average base rate of commercial banks increased to 10.01 percent in the second month of FY 2022/23 from 6.89 percent a year ago. Weighted average deposit rate and lending rate of commercial banks stood at 7.81 percent and 12.06 percent respectively in the review month. Such rates were 4.92 percent and 8.57 percent respectively a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Merger and Acquisition </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After introduction of merger and acquisition policy aimed at strengthening financial stability, the number of BFIs involved in this process reached 247 as of mid-September 2022. Out of which, the license of 179 BFIs was revoked thereby forming 68 BFIs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""><strong>Financial Access </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Of the total 753 local levels, commercial banks extended their branches at 752 levels as of mid-September 2022. The number of local levels having branches of commercial bank was 750 a year ago. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total number of BFIs licensed by NRB remained 125 in mid-September 2022. As of mid-September this year, 26 commercial banks, 17 development banks, 17 finance companies, 64 microfinance companies and one infrastructure development bank are in operation. The number of branches of BFIs has reached 11,585 in mid-September 2022 from 11,528 in mid-July 2022. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15999', 'image' => '20221107114002_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-11-07 11:38:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16257', 'article_category_id' => '1', 'title' => 'FMTCL Sells 29,500 Quintals of Food at Concessional Rates this Year', 'sub_title' => '', 'summary' => 'November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 7: The state-owned Food Management and Trading Company Limited (FMTCL) sold around 29,500 quintals of food at concessional rates this year. The FMTCL had opened fair-price shops at various places across the country during the festivals of Dashain and Tihar to facilitate the general public.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The fair-price shops were opened from September 17 to November 1 this year with the objective of providing food to the public at concessional rates during the festivals and also to discourage artificial shortage of food. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the FMTCL, it sold 28,939 quintals of rice, 106 quintals of lentil, 10 quintals of pulses and legumes, 10 quintals of wheat, 10 quintals of beaten rice, 464 quintals of meat during the review period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL had operated fair-price shops at 43 different places of 41 districts this year. The company had provided discounts between Rs 10 to Rs 50 on the items sold during this period.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The FMTCL, however, could not sell ghee and sugar at concessional rates this year because the state-owned Dairy Development Corporation faced scarcity of ghee this year while the Ministry of Finance did not give permission to purchase sugar. The consumption of ghee and sugar is maximum during the festivals of Tihar and Chhath. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">FMTCL’s Information Officer Sharmila Neupane informed that the company sold more food items this year compared to last year.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-11-07', 'modified' => '2022-11-07', 'keywords' => '', 'description' => '', 'sortorder' => '15998', 'image' => '20221107101946_fair price shoppp.jpg', 'article_date' => '2022-11-07 10:19:11', '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
