October 21: Securities Board of Nepal has submitted a written clarification to the Election Commission over the issue of broker…
October 21: Securities Board of Nepal has submitted a written clarification to the Election Commission over the issue of broker…
October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling…
October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding.…
October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of…
October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40…
October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from…
October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World…
October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development…
October 20: The real estate business has slumped by 70 percent in the country.…
October 20: The American dollar is continuously rising against the Nepali currency of late.…
October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and…
October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in…
October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system.…
October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. …
October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China…
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The board has clarified that the process of issuing the license to the brokers and stock exchange company is not against the Election Code of Conduct.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Election Commission had recently sought clarification with SEBON regarding why it should not halt the process of issuing license when the Election Code of Conduct has already been enforced since September 28. The Election Commission had instructed the board to present a written clarification within three days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board responded saying that the process of issuing license to the brokers and new stock exchange company was initiated before the Election Code of Conduct came into force. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the board Binay Dev Acharya argued that the topic of issuing license did not surface right now but was pre-planned since a long time. He said that the board took steps in accordance with the budget announcement of the government in order to make the secondary market more competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The Election Commission enforced the Election Code of Conduct ten days later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the board, the capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15935', 'image' => '20221021015419_Sebonnn.jpg', 'article_date' => '2022-10-21 13:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16189', 'article_category_id' => '1', 'title' => 'Tea Board of India Lifts Ban on Blending of Tea to the Relief of Nepal's Tea Industry', 'sub_title' => '', 'summary' => 'October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea. The export of tea produced in Nepal is expected to grow with the board’s decision to remove the ban that was in place since one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had written a letter to the Tea Board of India requesting the board to allow mixing of tea produced in Nepal and other provinces of India with the tea produced in Darjeeling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board ruled in favour of Tata and lifted the ban effective from Tuesday (October 18). </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Telegraph, the Tea Board of India issued a notification on Tuesday which will let sellers mix Darjeeling tea with any other varieties, especially Nepal tea in their packs — as long as the end product does not claim to be an exclusive item covered by the geographical indication (GI) label.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, the board had issued a notice instructing tea producers to place tags in tea packs that clearly show the GI lable indicating the origin of the tea. The notice issued on November 11, 2021 had also banned mixing of tea produced in different places. Due to this decision, the sale of Darjeeling tea took a nosedive and had to be sold at throw-away prices.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">President of Nepal Tea Producers Association Suresh Mittal welcomed the latest decision of the Tea Board of India and said that the move is expected to boost the sale of tea produced in Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Mittal, Tata Consumer Products Limited had stopped purchasing tea produced in Darjeeling about a year ago after the board made it mandatory to keep GI labels which did not allow blending of a varieties of tea. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had been purchasing over one thousand tons of tea produced in Darjeeling. This amount is 15 percent of the total production in the region. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The decision to ban the mixing of tea did not go well with some of the board members and also the central ministry. Due to the setback in sale, the board finally decided to revoke the decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board’s decision is a relief to the tea industry of Nepal which is facing stiff opposition from Indian lawmakers in the parliament.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">A total of 40 MPs of India had filed a motion in the Provincial Assembly of West Bengal with 11 serious allegations against Nepal’s tea industry, alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market. If the registered motion is passed, there will be a problem for the tea produced in Nepal to get access to the Indian market. However, the board’s decision is likely to favour Nepal, says Mittal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting tea worth Rs 3.5 billion to India annually. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15933', 'image' => '20221021113420_20221014010853_Tea.jpg', 'article_date' => '2022-10-21 11:33:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16192', 'article_category_id' => '1', 'title' => 'NCC to Help Promote Export of Readymade Garments', 'sub_title' => '', 'summary' => 'October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. Rajendra Malla, president of the chamber, said they are preparing to cooperate with industrialists for promoting the market of Nepali ready-made garments through the international branch under the chamber.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During an interaction with the newly elected officials of Nepal Readymade Garment Industry Association at the chamber building in Jamal, President Malla said that export promotion is the only option to reduce the growing trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“The chamber will help to increase the export of ready-made garments through Nepal’s embassies abroad and international branches of the chamber,” said Malla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Recalling that in the 1990s, ready-made garments worth Rs 11 billion were exported annually from Nepal, Malla said that it is unfortunate that garments worth only Rs 7 billion are being exported at present. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Pashupati Dev Pandey, the newly elected president of Nepal Readymade Garment Industry Association, said that it is ironic that the clothes used for climbing Mount Everest cannot be produced within the country, even though Nepal is proud to be the country of Mount Everest. Pandey said that their target is to export ready-made garments worth Rs 10 billion in the current fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15932', 'image' => '20221021012824_NCCC.jpg', 'article_date' => '2022-10-21 13:27:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16190', 'article_category_id' => '1', 'title' => 'Consumers' Awareness Imperative to Curb Black Marketing: Experts ', 'sub_title' => '', 'summary' => 'October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals. Market frauds including adulteration of food and irregularities have been reported in media of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The speakers during a recent meeting of Consumers' Awareness Campaign said the traders take advantage of festive season and cheat the consumers, which needs to be curbed with collective efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed that informed and aware consumers have important role to ensure availability of standard and quality foods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former secretary of the government, Krishna Hari Banskota, said time has come for consumers' activism and awareness so that they would not be deprived of their rights. He added that impunity is thriving in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another former secretary of government, Dr Hari Dahal, shared that the consumer rights activists and consumers could work in unison to control such irregularities in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Director at the Department of Commerce, Bhesh Bahadur Kunwar, informed that the department was conducting market monitoring as per its resources and strength. He sought cooperation from rights bodies in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Consumers' Forum Nepal, Prem Lal Maharjan, also stressed the need of unity among concerned bodies for consumers' rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15931', 'image' => '20221021011452_RupakPuri_Chautara_RSS_26_______.jpg', 'article_date' => '2022-10-21 13:14:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16188', 'article_category_id' => '1', 'title' => 'Industrialists Opt for Protest Against Unfair Decision of Nepal Rastra Bank', 'sub_title' => '', 'summary' => 'October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent. They said that the Nepal Rastra Bank has been giving undue favour to the banks by ensuring that their profit does not shrink even at the expense of production cuts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized by Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on Thursday, stakeholders expressed concern over the policy adopted by the central bank that ensures banks run in profit at any cost. They also complained about forceful extortion in the name of donations ahead of the elections. All these have led to a situation in which industries have been forced to limit their production to 40 percent of their total capacity, according to the stakeholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Tika Raj Dhakal shared that the political parties, leaders and activists have been seeking donations even though the industrialists have been requesting them not to ask for donations to the industries that are not in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dhakal said that they opted for street protests after the leaders of political parties turned a deaf ear to their problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the programme, other stakeholders including Bhim Poudel, Rajendra Raut and Suyash Raj Pyakurel were unanimous in saying that the policy adopted by Nepal Rastra Bank has badly affected the industrial sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Participants of the programme said that it has become difficult to operate industries and businesses due to the Covid-19 pandemic followed by the Russia-Ukraine war which resulted in rise in prices of petroleum products and disruption of supply chain. In addition to that, liquidity crisis in the banking system, decline in credit flow and increase in interest rates have all created additional burden to the business community.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Province 1 chapter of FNCCI has announced a three-phase protest programme based on suggestions from the district and municipal associations of FNCCI. Participants of the programme have also decided to submit a 17- point memo to Nepal Rastra Bank demanding the central bank to amend its decision in relation to hike in interest rates.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15930', 'image' => '20221021102455_market monitoring.jpg', 'article_date' => '2022-10-21 10:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16191', 'article_category_id' => '1', 'title' => 'Nimbus Start Exporting Food Items', 'sub_title' => '', 'summary' => 'October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal. The company started exporting various food items under the Byanjan brand since the festival Dashain. The company informed that the currently exported items include pickles, flour, chickpeas and pulses. As per the information, the goods are being exported to Canada for the time being. The company plans to export food products to other countries as well in the future. The company said that export of food items will help the economy by bringing foreign currency into the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15929', 'image' => '20221021012334_export.jpg', 'article_date' => '2022-10-21 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16187', 'article_category_id' => '1', 'title' => 'Amnesty Int'l Calls on Qatar to Uphold Labour Rights ahead of World Cup ', 'sub_title' => '', 'summary' => 'October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UK-based human rights organisation made such call in a press statement on Thursday amid allegation of widespread abuse of migrant workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, AI’s final pre-tournament briefing on migrant workers’ conditions has revealed that abuses remain rife across the Gulf nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With just one month left for the mega event to kick-off, the human rights organization again reiterated its call on FIFA and Qatar to establish a compensation fund for abused migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the state-owned national news agency of Nepal, AI said Qatar’s overhaul of its labour system since 2017 has led to some noticeable improvements for the country’s two million migrant workers - hundreds of thousands of whom have been engaged in projects essential to the World Cup. However, lack of effective implementation and enforcement continues to undermine their impact on migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Although Qatar has made important strides on labour rights over the past five years, it’s abundantly clear that there is a great distance still to go. Thousands of workers remain stuck in the familiar cycle of exploitation and abuse thanks to legal loopholes and inadequate enforcement,” RSS quoted Steve Cockburn, Amnesty International’s Head of Economic and Social Justice Department, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“With the World Cup looming, the job of protecting migrant workers from exploitation is only half done, while that of compensating those who have suffered abuses has barely started. It’s also imperative that Qatar commits to improving conditions in the long term. Progress must not grind to a halt once the World Cup roadshow leaves Doha,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last month, a global poll commissioned by Amnesty International revealed overwhelming support among both the general public and football fans for the compensation of migrant workers who suffered during preparations for the 2022 World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The findings back the #PayUpFIFA campaign launched by a coalition of human rights organizations—including Amnesty International—fans groups and trade unions in May 2022, which calls on FIFA and the Qatari authorities to establish a comprehensive remediation programme to compensate workers and prevent future abuses, RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is estimated that there are more than 300,000 Nepali workers in Qatar. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15928', 'image' => '20221020062952_r879874_1296x729_16-9.jpg', 'article_date' => '2022-10-20 18:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16186', 'article_category_id' => '1', 'title' => 'Partial Solar Eclipse to Occur on October 25 ', 'sub_title' => '', 'summary' => 'October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's executive director Surya Prasad Dhungel shared that the eclipse would commence from 4.52 pm and the sun will set at 5.24 pm, 32 minutes after the eclipse starts. So, the eclipse will be visible from Nepal for around 32 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The eclipse will withdraw at 7.30 pm although it will not be visible from Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15927', 'image' => '20221020040933_skynews-eclipse-solar-sun-moon_5407904.jpg', 'article_date' => '2022-10-20 16:08:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16185', 'article_category_id' => '1', 'title' => 'Real Estate Business Slumps by 70 Percent', 'sub_title' => '', 'summary' => 'October 20: The real estate business has slumped by 70 percent in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 20: The real estate business has slumped by 70 percent in the country. A month between mid-September to mid-October saw 25,000 transactions related to real estate properties. The figure is almost 10,000 less than the transactions in mid-August to mid-September and 25,000 less than normal times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the real estate business is going down each day, dozens of professions and businesses directly and indirectly connected with the real estate business are facing dire situation. An example of this is the engineers who evaluate the land. Just a few days ago, police arrested a valuator on the charge of overvaluation of the land in Jhapa when its value had slumped. The Nepal Valuers’ Association strongly opposed it and demanded an unconditional release of the valuator.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mukti Pandey, secretary general of Nepal Valuers’ Association said that due to government policy and economic recession, the price of real estate has decreased by 20 to 25 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“At present, the price has decreased by 20 to 25 percent. If this situation continues for another six months, it is certain that the price of land will decrease by additional 20 to 25 percent,” said Pandey. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has instructed concerned bodies to demarcate agricultural and non-agricultural lands in order to implement the land use policy. In Pandey's experience, the valuation of land that is or has been in the agricultural sector has decreased sharply. However, the value of land classified as non-agricultural sector did not increase as expected due to recession. On top of that, Nepal Rastra Bank has instructed that the valuation of real estate should not increase by more than two-thirds of the previous valuation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the slump in real estate business, which has been declining for a long time, continued till mid-October as well, the businessmen engaged in this profession have given up all hope. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Land Management and Records said that the real estate business was affected to some extent by the Dashain holidays in October. But as per the officials, the biggest impact was due to the effects of the global economic recession on Nepal's economy.</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"">Around 34,700 real estate properties were bought and sold throughout mid-August to mid-September and 33,000 from mid-July to mid-August. Businessmen were expecting that the decline in business rate would stop after the number of transactions increased a little. But after the number of transactions decreased again by mid-October to 25,800, a businessman said that it is not possible to predict how much the transaction will go down.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was at its peak, up to 88,000 real estate properties were bought and sold per month, while in normal times, 50,000 to 60,000 were transacted. In contrast, the transactions in mid-September to mid-October has been 50 percent lower than normal times and 70 percent lower than the peak period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-July, the revenue was only Rs 2.73 billion, which reached Rs 3.5 billion by mid-August. But by mid-October again, only registration fees worth Rs 1.36 billion were collected. Apart from land revenue offices of Kalanki, Chabhil and Lalitpur, the registration fee of any other office could not even reach Rs 10 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was high, revenue of Rs 10 billion used to be collected in one month. Revenue of Rs 6 billion to Rs 7 billion used to be collected even during normal times. With the slowdown in real estate business, the monthly revenue collection dropped to around Rs 3 to 4 billion. It further declined to Rs 2.5 billion by mid-October. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15926', 'image' => '20221020033234_Real estate.jpg', 'article_date' => '2022-10-20 15:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16184', 'article_category_id' => '1', 'title' => 'US Dollar Becomes All-Time High ', 'sub_title' => '', 'summary' => 'October 20: The American dollar is continuously rising against the Nepali currency of late. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: The American dollar is continuously rising against the Nepali currency of late. As per the foreign currency exchange rate determined by Nepal Rastra Bank for today, the buying rate of US$ 1 is Rs 132.54 while the selling rate is Rs 133.14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The buying rate of a unit of greenback was Rs 131.48 and the selling rate Rs 132.8 on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the central bank has fixed the buying rate of one euro at Rs 129.65 and the selling rate at Rs 130.24 for today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali currency has depreciated with the increase in the value of the US dollar in the international market. The Nepali currency is pegged with the Indian rupee at a fixed exchange rate and the Nepali currency is impacted as the Indian currency's value decreases when the value of US dollar rises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the increase in the value of the US dollar will have positive impact on the income from remittances, tourism revenue and export trade, it will leave negative impact on the overall economy.</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 economists, since the import is greater than the export, the rising value of US dollar means the trade deficit would go up further. This will also have negative impact on the balance of payment and foreign currency reserve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of imported goods, fuel and other commodities as well as the principal and interest amount would rise with the increase in the value of US dollar. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15925', 'image' => '20221020024942_dolar.jpg', 'article_date' => '2022-10-20 14:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16183', 'article_category_id' => '1', 'title' => 'Feud between Bankers and Businessmen Over Interest Rates', 'sub_title' => '', 'summary' => 'October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen. Businessmen staged a protest against the rising interest rate by closing the market and submitting a formal memorandum to the concerned authorities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the bankers say that there is no possibility of lowering the interest rate immediately due to the market conditions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The market of Birendranagar was closed last Friday on the call of the Surkhet Chamber of Commerce and Industry to protest against the hike in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They have formed a joint struggle committee and announced further protest programmes. In the center as well, commercial organizations such as the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC), and Hotel Association of Nepal (HAN) have formally opposed the spiraling interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyay, chairman of the Nepal Bankers Association and Chief Executive Officer of the Agriculture Development Bank, said that the capital cost of banks has increased due to lack of liquidity, and the interest rates of loans have become expensive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"In the current situation, the cost of banks has increased by 10 per cent," he said, "Therefore, it is natural for the interest rate to increase." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks have fixed the interest rate according to the provisions of Nepal Rastra Bank. Upadhyay claimed that there is no possibility of reducing the interest rates on loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest on loan by adding a certain per cent premium to their base rate which is maintained every quarter. In the case of old borrowers, even if the premium does not change, the interest rate of the loan increases when the base rate increases.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first quarter of the current fiscal year (FY), the interest rate on loans has become expensive due to the increase in the base rate of banks. According to the reports published by the banks, the average base rate of commercial banks has reached about 10 per cent by mid-October. As banks add up to 7 percentage points as premium to the base rate, it seems that the interest rate of bank loans will reach up to 17 percent. However, the base rate of most of the banks have exceeded 10 percent. Because of this, the interest rate of the loan has become more expensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks, which have been keeping the interest rates on deposits stable for six months through the umbrella organization, increased them by 10 per cent from mid-September. Although the Ministry of Finance tried to intervene, an expert committee formed by the ministry suggested the government not to meddle with affairs looked after by the central bank.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15924', 'image' => '20221020014212_interest ratee.jpg', 'article_date' => '2022-10-20 13:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16182', 'article_category_id' => '1', 'title' => 'CAAN Forms Probe Committee to Study Safety of Paragliding in Nepal', 'sub_title' => '', 'summary' => 'October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation governing body of Nepal on Wednesday formed the probe committee headed by its deputy director general Hansraj Pandey after the accident killed a pilot of Tribhuvan Army Club during the ongoing Ninth National Games. CAAN had indefinitely banned paragliding across the country following the accident that occurred earlier this week. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has made it clear that it will reopen paragliding based on suggestions provided by the probe committee.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN Spokesperson Jagannath Niraula informed that the committee will submit its report as soon as possible. “A decision will be taken to reopen paragliding after receiving the report,” said Niraula.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the committee has been formed to provide suggestions for proper management of paragliding and to ensure safety of the pilots and tandem divers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN had banned all kinds of paragliding activities including sporting competitions, recreation and commercial flights after Nishim Thapa of TAC succumbed to injuries after falling off his glider during a competition on October 17. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, CAAN also received a report from the International Civil Aviation Organisation (ICAO) which states that the aviation safety rate of Nepal has increased to 70.10 percent. Spokesperson Niraula said that CAAN is committed to improve the aviation safety rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ICAO had conducted an audit of aviation safety of Nepal in April. The final report of the audit states that Nepal has made a significant improvement in aviation safety. As per the report, Nepal ranks among the top countries in Asia in terms of aviation safety. </span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15923', 'image' => '20221020104248_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-20 10:42:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16181', 'article_category_id' => '1', 'title' => '‘Use of Pesticides Poses Serious Threat to Agriculture’', 'sub_title' => '', 'summary' => 'October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. They made such remark during an interaction on the topic of ‘Organic Farming: Revitalizing the Food System’ organized on the occasion of the 42<sup>nd</sup> World Food Day on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Food for Agriculture Campaign, National Farmers’ Group among others were present during the interaction. Participants of the interaction programme concluded that the use of pesticides have not only affected human health but also caused adverse effects on soil, water and environment. They argued that the use of pesticides has also affected production growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of the National Inclusion Commission Dr Ram Krishna Timilsina expressed his views that the agriculture sector is facing problems because the universities of Nepal only focus on producing scholars but fail to realize the need of imparting technical skills. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He accused the government of displaying dual character. He said that the government has not been able to clearly state whether it is possible to set up chemical fertilizer plant in the country or not.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the production of food can be increased by providing grants to small and medium-scale farmers and concessional loans to big farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government needs to encourage commercial farming in order to increase production. Small farmers need to be given grants while corporate farmers must be availed concessional loans,” said Timalsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the programme, Senior Scientist of the Nepal Agriculture Research Council Bal Krishna Joshi informed that the traditional food grains are comparatively more healthy than hybrid food.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15922', 'image' => '20221020102244_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2022-10-20 10:22:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16180', 'article_category_id' => '1', 'title' => '11:37 am Auspicious Time for Bhai Tika ', 'sub_title' => '', 'summary' => 'October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year's Tihar festival starts from October 22, Saturday with the observance of Yamadeepdan, the offerings of lamps to Yamadeva (the deity of death). The religious belief is that the celebration of Yamadeepdan will prevent the devotee from facing untimely death. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive director of the committee Surya Prasad Dhungel said Dhantrayodashi (Dhanteras) should also be observed same day. The Kag Tihar, the festival of crow, falls on October 23 and Laxmi Puja (worship of Hindu Goddess Laxmi), one of the major celebrations of the Tihar festival, falls on Monday, October 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">October 25 is the day for Gai Puja when cow is cow worshipped with Hindu rituals. </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"">“We will observe solar eclipse the same day,” said Dhungel. </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"">October 26 is the Gobardhan Puja, the day of worshipping the ox. The Newar community celebrates the Mha Puja (worship of the self) on the same day. The day also marks the commencement of the Nepal Sambat 1143. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tika for this year's Tihar festival is being observed on October 27 when sisters and brothers exchange the saptarangi tika (seven-coloured tika) on the occasion. Sisters put tika on the forehead of their brothers wishing their wellbeing and longevity and offer them special delicacies. In return brothers also put tika on them and give gifts to their sisters. The Newar community celebrates the Kija Puja the same day. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15921', 'image' => '20221019044902_bhaitika.jpg', 'article_date' => '2022-10-19 16:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16179', 'article_category_id' => '1', 'title' => '5.9 Magnitude Earthquake Jolts Kathmandu Valley ', 'sub_title' => '', 'summary' => 'October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake occurred at 3.07 pm, according to the National Seismological Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seismologist Dr Mukunda Bhatatrai said the earthquake jolted Sindhupalchowk, Dolakha, Nuwakot, Rasuwa, Kathmandu Valley and Dhading. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15920', 'image' => '20221019042812_Earthquake_qHefATN.jpg', 'article_date' => '2022-10-19 16:27:27', '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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The board has clarified that the process of issuing the license to the brokers and stock exchange company is not against the Election Code of Conduct.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Election Commission had recently sought clarification with SEBON regarding why it should not halt the process of issuing license when the Election Code of Conduct has already been enforced since September 28. The Election Commission had instructed the board to present a written clarification within three days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board responded saying that the process of issuing license to the brokers and new stock exchange company was initiated before the Election Code of Conduct came into force. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the board Binay Dev Acharya argued that the topic of issuing license did not surface right now but was pre-planned since a long time. He said that the board took steps in accordance with the budget announcement of the government in order to make the secondary market more competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The Election Commission enforced the Election Code of Conduct ten days later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the board, the capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15935', 'image' => '20221021015419_Sebonnn.jpg', 'article_date' => '2022-10-21 13:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16189', 'article_category_id' => '1', 'title' => 'Tea Board of India Lifts Ban on Blending of Tea to the Relief of Nepal's Tea Industry', 'sub_title' => '', 'summary' => 'October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea. The export of tea produced in Nepal is expected to grow with the board’s decision to remove the ban that was in place since one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had written a letter to the Tea Board of India requesting the board to allow mixing of tea produced in Nepal and other provinces of India with the tea produced in Darjeeling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board ruled in favour of Tata and lifted the ban effective from Tuesday (October 18). </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Telegraph, the Tea Board of India issued a notification on Tuesday which will let sellers mix Darjeeling tea with any other varieties, especially Nepal tea in their packs — as long as the end product does not claim to be an exclusive item covered by the geographical indication (GI) label.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, the board had issued a notice instructing tea producers to place tags in tea packs that clearly show the GI lable indicating the origin of the tea. The notice issued on November 11, 2021 had also banned mixing of tea produced in different places. Due to this decision, the sale of Darjeeling tea took a nosedive and had to be sold at throw-away prices.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">President of Nepal Tea Producers Association Suresh Mittal welcomed the latest decision of the Tea Board of India and said that the move is expected to boost the sale of tea produced in Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Mittal, Tata Consumer Products Limited had stopped purchasing tea produced in Darjeeling about a year ago after the board made it mandatory to keep GI labels which did not allow blending of a varieties of tea. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had been purchasing over one thousand tons of tea produced in Darjeeling. This amount is 15 percent of the total production in the region. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The decision to ban the mixing of tea did not go well with some of the board members and also the central ministry. Due to the setback in sale, the board finally decided to revoke the decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board’s decision is a relief to the tea industry of Nepal which is facing stiff opposition from Indian lawmakers in the parliament.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">A total of 40 MPs of India had filed a motion in the Provincial Assembly of West Bengal with 11 serious allegations against Nepal’s tea industry, alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market. If the registered motion is passed, there will be a problem for the tea produced in Nepal to get access to the Indian market. However, the board’s decision is likely to favour Nepal, says Mittal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting tea worth Rs 3.5 billion to India annually. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15933', 'image' => '20221021113420_20221014010853_Tea.jpg', 'article_date' => '2022-10-21 11:33:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16192', 'article_category_id' => '1', 'title' => 'NCC to Help Promote Export of Readymade Garments', 'sub_title' => '', 'summary' => 'October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. Rajendra Malla, president of the chamber, said they are preparing to cooperate with industrialists for promoting the market of Nepali ready-made garments through the international branch under the chamber.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During an interaction with the newly elected officials of Nepal Readymade Garment Industry Association at the chamber building in Jamal, President Malla said that export promotion is the only option to reduce the growing trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“The chamber will help to increase the export of ready-made garments through Nepal’s embassies abroad and international branches of the chamber,” said Malla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Recalling that in the 1990s, ready-made garments worth Rs 11 billion were exported annually from Nepal, Malla said that it is unfortunate that garments worth only Rs 7 billion are being exported at present. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Pashupati Dev Pandey, the newly elected president of Nepal Readymade Garment Industry Association, said that it is ironic that the clothes used for climbing Mount Everest cannot be produced within the country, even though Nepal is proud to be the country of Mount Everest. Pandey said that their target is to export ready-made garments worth Rs 10 billion in the current fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15932', 'image' => '20221021012824_NCCC.jpg', 'article_date' => '2022-10-21 13:27:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16190', 'article_category_id' => '1', 'title' => 'Consumers' Awareness Imperative to Curb Black Marketing: Experts ', 'sub_title' => '', 'summary' => 'October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals. Market frauds including adulteration of food and irregularities have been reported in media of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The speakers during a recent meeting of Consumers' Awareness Campaign said the traders take advantage of festive season and cheat the consumers, which needs to be curbed with collective efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed that informed and aware consumers have important role to ensure availability of standard and quality foods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former secretary of the government, Krishna Hari Banskota, said time has come for consumers' activism and awareness so that they would not be deprived of their rights. He added that impunity is thriving in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another former secretary of government, Dr Hari Dahal, shared that the consumer rights activists and consumers could work in unison to control such irregularities in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Director at the Department of Commerce, Bhesh Bahadur Kunwar, informed that the department was conducting market monitoring as per its resources and strength. He sought cooperation from rights bodies in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Consumers' Forum Nepal, Prem Lal Maharjan, also stressed the need of unity among concerned bodies for consumers' rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15931', 'image' => '20221021011452_RupakPuri_Chautara_RSS_26_______.jpg', 'article_date' => '2022-10-21 13:14:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16188', 'article_category_id' => '1', 'title' => 'Industrialists Opt for Protest Against Unfair Decision of Nepal Rastra Bank', 'sub_title' => '', 'summary' => 'October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent. They said that the Nepal Rastra Bank has been giving undue favour to the banks by ensuring that their profit does not shrink even at the expense of production cuts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized by Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on Thursday, stakeholders expressed concern over the policy adopted by the central bank that ensures banks run in profit at any cost. They also complained about forceful extortion in the name of donations ahead of the elections. All these have led to a situation in which industries have been forced to limit their production to 40 percent of their total capacity, according to the stakeholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Tika Raj Dhakal shared that the political parties, leaders and activists have been seeking donations even though the industrialists have been requesting them not to ask for donations to the industries that are not in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dhakal said that they opted for street protests after the leaders of political parties turned a deaf ear to their problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the programme, other stakeholders including Bhim Poudel, Rajendra Raut and Suyash Raj Pyakurel were unanimous in saying that the policy adopted by Nepal Rastra Bank has badly affected the industrial sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Participants of the programme said that it has become difficult to operate industries and businesses due to the Covid-19 pandemic followed by the Russia-Ukraine war which resulted in rise in prices of petroleum products and disruption of supply chain. In addition to that, liquidity crisis in the banking system, decline in credit flow and increase in interest rates have all created additional burden to the business community.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Province 1 chapter of FNCCI has announced a three-phase protest programme based on suggestions from the district and municipal associations of FNCCI. Participants of the programme have also decided to submit a 17- point memo to Nepal Rastra Bank demanding the central bank to amend its decision in relation to hike in interest rates.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15930', 'image' => '20221021102455_market monitoring.jpg', 'article_date' => '2022-10-21 10:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16191', 'article_category_id' => '1', 'title' => 'Nimbus Start Exporting Food Items', 'sub_title' => '', 'summary' => 'October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal. The company started exporting various food items under the Byanjan brand since the festival Dashain. The company informed that the currently exported items include pickles, flour, chickpeas and pulses. As per the information, the goods are being exported to Canada for the time being. The company plans to export food products to other countries as well in the future. The company said that export of food items will help the economy by bringing foreign currency into the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15929', 'image' => '20221021012334_export.jpg', 'article_date' => '2022-10-21 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16187', 'article_category_id' => '1', 'title' => 'Amnesty Int'l Calls on Qatar to Uphold Labour Rights ahead of World Cup ', 'sub_title' => '', 'summary' => 'October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UK-based human rights organisation made such call in a press statement on Thursday amid allegation of widespread abuse of migrant workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, AI’s final pre-tournament briefing on migrant workers’ conditions has revealed that abuses remain rife across the Gulf nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With just one month left for the mega event to kick-off, the human rights organization again reiterated its call on FIFA and Qatar to establish a compensation fund for abused migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the state-owned national news agency of Nepal, AI said Qatar’s overhaul of its labour system since 2017 has led to some noticeable improvements for the country’s two million migrant workers - hundreds of thousands of whom have been engaged in projects essential to the World Cup. However, lack of effective implementation and enforcement continues to undermine their impact on migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Although Qatar has made important strides on labour rights over the past five years, it’s abundantly clear that there is a great distance still to go. Thousands of workers remain stuck in the familiar cycle of exploitation and abuse thanks to legal loopholes and inadequate enforcement,” RSS quoted Steve Cockburn, Amnesty International’s Head of Economic and Social Justice Department, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“With the World Cup looming, the job of protecting migrant workers from exploitation is only half done, while that of compensating those who have suffered abuses has barely started. It’s also imperative that Qatar commits to improving conditions in the long term. Progress must not grind to a halt once the World Cup roadshow leaves Doha,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last month, a global poll commissioned by Amnesty International revealed overwhelming support among both the general public and football fans for the compensation of migrant workers who suffered during preparations for the 2022 World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The findings back the #PayUpFIFA campaign launched by a coalition of human rights organizations—including Amnesty International—fans groups and trade unions in May 2022, which calls on FIFA and the Qatari authorities to establish a comprehensive remediation programme to compensate workers and prevent future abuses, RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is estimated that there are more than 300,000 Nepali workers in Qatar. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15928', 'image' => '20221020062952_r879874_1296x729_16-9.jpg', 'article_date' => '2022-10-20 18:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16186', 'article_category_id' => '1', 'title' => 'Partial Solar Eclipse to Occur on October 25 ', 'sub_title' => '', 'summary' => 'October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's executive director Surya Prasad Dhungel shared that the eclipse would commence from 4.52 pm and the sun will set at 5.24 pm, 32 minutes after the eclipse starts. So, the eclipse will be visible from Nepal for around 32 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The eclipse will withdraw at 7.30 pm although it will not be visible from Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15927', 'image' => '20221020040933_skynews-eclipse-solar-sun-moon_5407904.jpg', 'article_date' => '2022-10-20 16:08:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16185', 'article_category_id' => '1', 'title' => 'Real Estate Business Slumps by 70 Percent', 'sub_title' => '', 'summary' => 'October 20: The real estate business has slumped by 70 percent in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 20: The real estate business has slumped by 70 percent in the country. A month between mid-September to mid-October saw 25,000 transactions related to real estate properties. The figure is almost 10,000 less than the transactions in mid-August to mid-September and 25,000 less than normal times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the real estate business is going down each day, dozens of professions and businesses directly and indirectly connected with the real estate business are facing dire situation. An example of this is the engineers who evaluate the land. Just a few days ago, police arrested a valuator on the charge of overvaluation of the land in Jhapa when its value had slumped. The Nepal Valuers’ Association strongly opposed it and demanded an unconditional release of the valuator.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mukti Pandey, secretary general of Nepal Valuers’ Association said that due to government policy and economic recession, the price of real estate has decreased by 20 to 25 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“At present, the price has decreased by 20 to 25 percent. If this situation continues for another six months, it is certain that the price of land will decrease by additional 20 to 25 percent,” said Pandey. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has instructed concerned bodies to demarcate agricultural and non-agricultural lands in order to implement the land use policy. In Pandey's experience, the valuation of land that is or has been in the agricultural sector has decreased sharply. However, the value of land classified as non-agricultural sector did not increase as expected due to recession. On top of that, Nepal Rastra Bank has instructed that the valuation of real estate should not increase by more than two-thirds of the previous valuation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the slump in real estate business, which has been declining for a long time, continued till mid-October as well, the businessmen engaged in this profession have given up all hope. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Land Management and Records said that the real estate business was affected to some extent by the Dashain holidays in October. But as per the officials, the biggest impact was due to the effects of the global economic recession on Nepal's economy.</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"">Around 34,700 real estate properties were bought and sold throughout mid-August to mid-September and 33,000 from mid-July to mid-August. Businessmen were expecting that the decline in business rate would stop after the number of transactions increased a little. But after the number of transactions decreased again by mid-October to 25,800, a businessman said that it is not possible to predict how much the transaction will go down.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was at its peak, up to 88,000 real estate properties were bought and sold per month, while in normal times, 50,000 to 60,000 were transacted. In contrast, the transactions in mid-September to mid-October has been 50 percent lower than normal times and 70 percent lower than the peak period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-July, the revenue was only Rs 2.73 billion, which reached Rs 3.5 billion by mid-August. But by mid-October again, only registration fees worth Rs 1.36 billion were collected. Apart from land revenue offices of Kalanki, Chabhil and Lalitpur, the registration fee of any other office could not even reach Rs 10 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was high, revenue of Rs 10 billion used to be collected in one month. Revenue of Rs 6 billion to Rs 7 billion used to be collected even during normal times. With the slowdown in real estate business, the monthly revenue collection dropped to around Rs 3 to 4 billion. It further declined to Rs 2.5 billion by mid-October. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15926', 'image' => '20221020033234_Real estate.jpg', 'article_date' => '2022-10-20 15:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16184', 'article_category_id' => '1', 'title' => 'US Dollar Becomes All-Time High ', 'sub_title' => '', 'summary' => 'October 20: The American dollar is continuously rising against the Nepali currency of late. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: The American dollar is continuously rising against the Nepali currency of late. As per the foreign currency exchange rate determined by Nepal Rastra Bank for today, the buying rate of US$ 1 is Rs 132.54 while the selling rate is Rs 133.14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The buying rate of a unit of greenback was Rs 131.48 and the selling rate Rs 132.8 on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the central bank has fixed the buying rate of one euro at Rs 129.65 and the selling rate at Rs 130.24 for today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali currency has depreciated with the increase in the value of the US dollar in the international market. The Nepali currency is pegged with the Indian rupee at a fixed exchange rate and the Nepali currency is impacted as the Indian currency's value decreases when the value of US dollar rises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the increase in the value of the US dollar will have positive impact on the income from remittances, tourism revenue and export trade, it will leave negative impact on the overall economy.</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 economists, since the import is greater than the export, the rising value of US dollar means the trade deficit would go up further. This will also have negative impact on the balance of payment and foreign currency reserve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of imported goods, fuel and other commodities as well as the principal and interest amount would rise with the increase in the value of US dollar. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15925', 'image' => '20221020024942_dolar.jpg', 'article_date' => '2022-10-20 14:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16183', 'article_category_id' => '1', 'title' => 'Feud between Bankers and Businessmen Over Interest Rates', 'sub_title' => '', 'summary' => 'October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen. Businessmen staged a protest against the rising interest rate by closing the market and submitting a formal memorandum to the concerned authorities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the bankers say that there is no possibility of lowering the interest rate immediately due to the market conditions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The market of Birendranagar was closed last Friday on the call of the Surkhet Chamber of Commerce and Industry to protest against the hike in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They have formed a joint struggle committee and announced further protest programmes. In the center as well, commercial organizations such as the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC), and Hotel Association of Nepal (HAN) have formally opposed the spiraling interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyay, chairman of the Nepal Bankers Association and Chief Executive Officer of the Agriculture Development Bank, said that the capital cost of banks has increased due to lack of liquidity, and the interest rates of loans have become expensive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"In the current situation, the cost of banks has increased by 10 per cent," he said, "Therefore, it is natural for the interest rate to increase." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks have fixed the interest rate according to the provisions of Nepal Rastra Bank. Upadhyay claimed that there is no possibility of reducing the interest rates on loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest on loan by adding a certain per cent premium to their base rate which is maintained every quarter. In the case of old borrowers, even if the premium does not change, the interest rate of the loan increases when the base rate increases.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first quarter of the current fiscal year (FY), the interest rate on loans has become expensive due to the increase in the base rate of banks. According to the reports published by the banks, the average base rate of commercial banks has reached about 10 per cent by mid-October. As banks add up to 7 percentage points as premium to the base rate, it seems that the interest rate of bank loans will reach up to 17 percent. However, the base rate of most of the banks have exceeded 10 percent. Because of this, the interest rate of the loan has become more expensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks, which have been keeping the interest rates on deposits stable for six months through the umbrella organization, increased them by 10 per cent from mid-September. Although the Ministry of Finance tried to intervene, an expert committee formed by the ministry suggested the government not to meddle with affairs looked after by the central bank.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15924', 'image' => '20221020014212_interest ratee.jpg', 'article_date' => '2022-10-20 13:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16182', 'article_category_id' => '1', 'title' => 'CAAN Forms Probe Committee to Study Safety of Paragliding in Nepal', 'sub_title' => '', 'summary' => 'October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation governing body of Nepal on Wednesday formed the probe committee headed by its deputy director general Hansraj Pandey after the accident killed a pilot of Tribhuvan Army Club during the ongoing Ninth National Games. CAAN had indefinitely banned paragliding across the country following the accident that occurred earlier this week. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has made it clear that it will reopen paragliding based on suggestions provided by the probe committee.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN Spokesperson Jagannath Niraula informed that the committee will submit its report as soon as possible. “A decision will be taken to reopen paragliding after receiving the report,” said Niraula.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the committee has been formed to provide suggestions for proper management of paragliding and to ensure safety of the pilots and tandem divers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN had banned all kinds of paragliding activities including sporting competitions, recreation and commercial flights after Nishim Thapa of TAC succumbed to injuries after falling off his glider during a competition on October 17. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, CAAN also received a report from the International Civil Aviation Organisation (ICAO) which states that the aviation safety rate of Nepal has increased to 70.10 percent. Spokesperson Niraula said that CAAN is committed to improve the aviation safety rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ICAO had conducted an audit of aviation safety of Nepal in April. The final report of the audit states that Nepal has made a significant improvement in aviation safety. As per the report, Nepal ranks among the top countries in Asia in terms of aviation safety. </span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15923', 'image' => '20221020104248_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-20 10:42:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16181', 'article_category_id' => '1', 'title' => '‘Use of Pesticides Poses Serious Threat to Agriculture’', 'sub_title' => '', 'summary' => 'October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. They made such remark during an interaction on the topic of ‘Organic Farming: Revitalizing the Food System’ organized on the occasion of the 42<sup>nd</sup> World Food Day on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Food for Agriculture Campaign, National Farmers’ Group among others were present during the interaction. Participants of the interaction programme concluded that the use of pesticides have not only affected human health but also caused adverse effects on soil, water and environment. They argued that the use of pesticides has also affected production growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of the National Inclusion Commission Dr Ram Krishna Timilsina expressed his views that the agriculture sector is facing problems because the universities of Nepal only focus on producing scholars but fail to realize the need of imparting technical skills. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He accused the government of displaying dual character. He said that the government has not been able to clearly state whether it is possible to set up chemical fertilizer plant in the country or not.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the production of food can be increased by providing grants to small and medium-scale farmers and concessional loans to big farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government needs to encourage commercial farming in order to increase production. Small farmers need to be given grants while corporate farmers must be availed concessional loans,” said Timalsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the programme, Senior Scientist of the Nepal Agriculture Research Council Bal Krishna Joshi informed that the traditional food grains are comparatively more healthy than hybrid food.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15922', 'image' => '20221020102244_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2022-10-20 10:22:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16180', 'article_category_id' => '1', 'title' => '11:37 am Auspicious Time for Bhai Tika ', 'sub_title' => '', 'summary' => 'October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year's Tihar festival starts from October 22, Saturday with the observance of Yamadeepdan, the offerings of lamps to Yamadeva (the deity of death). The religious belief is that the celebration of Yamadeepdan will prevent the devotee from facing untimely death. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive director of the committee Surya Prasad Dhungel said Dhantrayodashi (Dhanteras) should also be observed same day. The Kag Tihar, the festival of crow, falls on October 23 and Laxmi Puja (worship of Hindu Goddess Laxmi), one of the major celebrations of the Tihar festival, falls on Monday, October 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">October 25 is the day for Gai Puja when cow is cow worshipped with Hindu rituals. </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"">“We will observe solar eclipse the same day,” said Dhungel. </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"">October 26 is the Gobardhan Puja, the day of worshipping the ox. The Newar community celebrates the Mha Puja (worship of the self) on the same day. The day also marks the commencement of the Nepal Sambat 1143. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tika for this year's Tihar festival is being observed on October 27 when sisters and brothers exchange the saptarangi tika (seven-coloured tika) on the occasion. Sisters put tika on the forehead of their brothers wishing their wellbeing and longevity and offer them special delicacies. In return brothers also put tika on them and give gifts to their sisters. The Newar community celebrates the Kija Puja the same day. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15921', 'image' => '20221019044902_bhaitika.jpg', 'article_date' => '2022-10-19 16:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16179', 'article_category_id' => '1', 'title' => '5.9 Magnitude Earthquake Jolts Kathmandu Valley ', 'sub_title' => '', 'summary' => 'October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake occurred at 3.07 pm, according to the National Seismological Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seismologist Dr Mukunda Bhatatrai said the earthquake jolted Sindhupalchowk, Dolakha, Nuwakot, Rasuwa, Kathmandu Valley and Dhading. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15920', 'image' => '20221019042812_Earthquake_qHefATN.jpg', 'article_date' => '2022-10-19 16:27:27', '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' => '16194', 'article_category_id' => '1', 'title' => 'SEBON Submits Written Clarification to Election Commission', 'sub_title' => '', 'summary' => 'October 21: Securities Board of Nepal has submitted a written clarification to the Election Commission over the issue of broker license.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 21: Securities Board of Nepal has submitted a written clarification to the Election Commission over the issue of broker license. The board has clarified that the process of issuing the license to the brokers and stock exchange company is not against the Election Code of Conduct.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Election Commission had recently sought clarification with SEBON regarding why it should not halt the process of issuing license when the Election Code of Conduct has already been enforced since September 28. The Election Commission had instructed the board to present a written clarification within three days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board responded saying that the process of issuing license to the brokers and new stock exchange company was initiated before the Election Code of Conduct came into force. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the board Binay Dev Acharya argued that the topic of issuing license did not surface right now but was pre-planned since a long time. He said that the board took steps in accordance with the budget announcement of the government in order to make the secondary market more competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The Election Commission enforced the Election Code of Conduct ten days later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the board, the capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15935', 'image' => '20221021015419_Sebonnn.jpg', 'article_date' => '2022-10-21 13:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16189', 'article_category_id' => '1', 'title' => 'Tea Board of India Lifts Ban on Blending of Tea to the Relief of Nepal's Tea Industry', 'sub_title' => '', 'summary' => 'October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea. The export of tea produced in Nepal is expected to grow with the board’s decision to remove the ban that was in place since one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had written a letter to the Tea Board of India requesting the board to allow mixing of tea produced in Nepal and other provinces of India with the tea produced in Darjeeling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board ruled in favour of Tata and lifted the ban effective from Tuesday (October 18). </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Telegraph, the Tea Board of India issued a notification on Tuesday which will let sellers mix Darjeeling tea with any other varieties, especially Nepal tea in their packs — as long as the end product does not claim to be an exclusive item covered by the geographical indication (GI) label.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, the board had issued a notice instructing tea producers to place tags in tea packs that clearly show the GI lable indicating the origin of the tea. The notice issued on November 11, 2021 had also banned mixing of tea produced in different places. Due to this decision, the sale of Darjeeling tea took a nosedive and had to be sold at throw-away prices.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">President of Nepal Tea Producers Association Suresh Mittal welcomed the latest decision of the Tea Board of India and said that the move is expected to boost the sale of tea produced in Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Mittal, Tata Consumer Products Limited had stopped purchasing tea produced in Darjeeling about a year ago after the board made it mandatory to keep GI labels which did not allow blending of a varieties of tea. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had been purchasing over one thousand tons of tea produced in Darjeeling. This amount is 15 percent of the total production in the region. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The decision to ban the mixing of tea did not go well with some of the board members and also the central ministry. Due to the setback in sale, the board finally decided to revoke the decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board’s decision is a relief to the tea industry of Nepal which is facing stiff opposition from Indian lawmakers in the parliament.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">A total of 40 MPs of India had filed a motion in the Provincial Assembly of West Bengal with 11 serious allegations against Nepal’s tea industry, alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market. If the registered motion is passed, there will be a problem for the tea produced in Nepal to get access to the Indian market. However, the board’s decision is likely to favour Nepal, says Mittal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting tea worth Rs 3.5 billion to India annually. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15933', 'image' => '20221021113420_20221014010853_Tea.jpg', 'article_date' => '2022-10-21 11:33:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16192', 'article_category_id' => '1', 'title' => 'NCC to Help Promote Export of Readymade Garments', 'sub_title' => '', 'summary' => 'October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. Rajendra Malla, president of the chamber, said they are preparing to cooperate with industrialists for promoting the market of Nepali ready-made garments through the international branch under the chamber.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During an interaction with the newly elected officials of Nepal Readymade Garment Industry Association at the chamber building in Jamal, President Malla said that export promotion is the only option to reduce the growing trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“The chamber will help to increase the export of ready-made garments through Nepal’s embassies abroad and international branches of the chamber,” said Malla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Recalling that in the 1990s, ready-made garments worth Rs 11 billion were exported annually from Nepal, Malla said that it is unfortunate that garments worth only Rs 7 billion are being exported at present. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Pashupati Dev Pandey, the newly elected president of Nepal Readymade Garment Industry Association, said that it is ironic that the clothes used for climbing Mount Everest cannot be produced within the country, even though Nepal is proud to be the country of Mount Everest. Pandey said that their target is to export ready-made garments worth Rs 10 billion in the current fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15932', 'image' => '20221021012824_NCCC.jpg', 'article_date' => '2022-10-21 13:27:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16190', 'article_category_id' => '1', 'title' => 'Consumers' Awareness Imperative to Curb Black Marketing: Experts ', 'sub_title' => '', 'summary' => 'October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals. Market frauds including adulteration of food and irregularities have been reported in media of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The speakers during a recent meeting of Consumers' Awareness Campaign said the traders take advantage of festive season and cheat the consumers, which needs to be curbed with collective efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed that informed and aware consumers have important role to ensure availability of standard and quality foods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former secretary of the government, Krishna Hari Banskota, said time has come for consumers' activism and awareness so that they would not be deprived of their rights. He added that impunity is thriving in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another former secretary of government, Dr Hari Dahal, shared that the consumer rights activists and consumers could work in unison to control such irregularities in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Director at the Department of Commerce, Bhesh Bahadur Kunwar, informed that the department was conducting market monitoring as per its resources and strength. He sought cooperation from rights bodies in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Consumers' Forum Nepal, Prem Lal Maharjan, also stressed the need of unity among concerned bodies for consumers' rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15931', 'image' => '20221021011452_RupakPuri_Chautara_RSS_26_______.jpg', 'article_date' => '2022-10-21 13:14:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16188', 'article_category_id' => '1', 'title' => 'Industrialists Opt for Protest Against Unfair Decision of Nepal Rastra Bank', 'sub_title' => '', 'summary' => 'October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent. They said that the Nepal Rastra Bank has been giving undue favour to the banks by ensuring that their profit does not shrink even at the expense of production cuts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized by Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on Thursday, stakeholders expressed concern over the policy adopted by the central bank that ensures banks run in profit at any cost. They also complained about forceful extortion in the name of donations ahead of the elections. All these have led to a situation in which industries have been forced to limit their production to 40 percent of their total capacity, according to the stakeholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Tika Raj Dhakal shared that the political parties, leaders and activists have been seeking donations even though the industrialists have been requesting them not to ask for donations to the industries that are not in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dhakal said that they opted for street protests after the leaders of political parties turned a deaf ear to their problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the programme, other stakeholders including Bhim Poudel, Rajendra Raut and Suyash Raj Pyakurel were unanimous in saying that the policy adopted by Nepal Rastra Bank has badly affected the industrial sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Participants of the programme said that it has become difficult to operate industries and businesses due to the Covid-19 pandemic followed by the Russia-Ukraine war which resulted in rise in prices of petroleum products and disruption of supply chain. In addition to that, liquidity crisis in the banking system, decline in credit flow and increase in interest rates have all created additional burden to the business community.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Province 1 chapter of FNCCI has announced a three-phase protest programme based on suggestions from the district and municipal associations of FNCCI. Participants of the programme have also decided to submit a 17- point memo to Nepal Rastra Bank demanding the central bank to amend its decision in relation to hike in interest rates.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15930', 'image' => '20221021102455_market monitoring.jpg', 'article_date' => '2022-10-21 10:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16191', 'article_category_id' => '1', 'title' => 'Nimbus Start Exporting Food Items', 'sub_title' => '', 'summary' => 'October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal. The company started exporting various food items under the Byanjan brand since the festival Dashain. The company informed that the currently exported items include pickles, flour, chickpeas and pulses. As per the information, the goods are being exported to Canada for the time being. The company plans to export food products to other countries as well in the future. The company said that export of food items will help the economy by bringing foreign currency into the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15929', 'image' => '20221021012334_export.jpg', 'article_date' => '2022-10-21 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16187', 'article_category_id' => '1', 'title' => 'Amnesty Int'l Calls on Qatar to Uphold Labour Rights ahead of World Cup ', 'sub_title' => '', 'summary' => 'October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UK-based human rights organisation made such call in a press statement on Thursday amid allegation of widespread abuse of migrant workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, AI’s final pre-tournament briefing on migrant workers’ conditions has revealed that abuses remain rife across the Gulf nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With just one month left for the mega event to kick-off, the human rights organization again reiterated its call on FIFA and Qatar to establish a compensation fund for abused migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the state-owned national news agency of Nepal, AI said Qatar’s overhaul of its labour system since 2017 has led to some noticeable improvements for the country’s two million migrant workers - hundreds of thousands of whom have been engaged in projects essential to the World Cup. However, lack of effective implementation and enforcement continues to undermine their impact on migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Although Qatar has made important strides on labour rights over the past five years, it’s abundantly clear that there is a great distance still to go. Thousands of workers remain stuck in the familiar cycle of exploitation and abuse thanks to legal loopholes and inadequate enforcement,” RSS quoted Steve Cockburn, Amnesty International’s Head of Economic and Social Justice Department, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“With the World Cup looming, the job of protecting migrant workers from exploitation is only half done, while that of compensating those who have suffered abuses has barely started. It’s also imperative that Qatar commits to improving conditions in the long term. Progress must not grind to a halt once the World Cup roadshow leaves Doha,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last month, a global poll commissioned by Amnesty International revealed overwhelming support among both the general public and football fans for the compensation of migrant workers who suffered during preparations for the 2022 World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The findings back the #PayUpFIFA campaign launched by a coalition of human rights organizations—including Amnesty International—fans groups and trade unions in May 2022, which calls on FIFA and the Qatari authorities to establish a comprehensive remediation programme to compensate workers and prevent future abuses, RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is estimated that there are more than 300,000 Nepali workers in Qatar. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15928', 'image' => '20221020062952_r879874_1296x729_16-9.jpg', 'article_date' => '2022-10-20 18:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16186', 'article_category_id' => '1', 'title' => 'Partial Solar Eclipse to Occur on October 25 ', 'sub_title' => '', 'summary' => 'October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's executive director Surya Prasad Dhungel shared that the eclipse would commence from 4.52 pm and the sun will set at 5.24 pm, 32 minutes after the eclipse starts. So, the eclipse will be visible from Nepal for around 32 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The eclipse will withdraw at 7.30 pm although it will not be visible from Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15927', 'image' => '20221020040933_skynews-eclipse-solar-sun-moon_5407904.jpg', 'article_date' => '2022-10-20 16:08:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16185', 'article_category_id' => '1', 'title' => 'Real Estate Business Slumps by 70 Percent', 'sub_title' => '', 'summary' => 'October 20: The real estate business has slumped by 70 percent in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 20: The real estate business has slumped by 70 percent in the country. A month between mid-September to mid-October saw 25,000 transactions related to real estate properties. The figure is almost 10,000 less than the transactions in mid-August to mid-September and 25,000 less than normal times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the real estate business is going down each day, dozens of professions and businesses directly and indirectly connected with the real estate business are facing dire situation. An example of this is the engineers who evaluate the land. Just a few days ago, police arrested a valuator on the charge of overvaluation of the land in Jhapa when its value had slumped. The Nepal Valuers’ Association strongly opposed it and demanded an unconditional release of the valuator.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mukti Pandey, secretary general of Nepal Valuers’ Association said that due to government policy and economic recession, the price of real estate has decreased by 20 to 25 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“At present, the price has decreased by 20 to 25 percent. If this situation continues for another six months, it is certain that the price of land will decrease by additional 20 to 25 percent,” said Pandey. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has instructed concerned bodies to demarcate agricultural and non-agricultural lands in order to implement the land use policy. In Pandey's experience, the valuation of land that is or has been in the agricultural sector has decreased sharply. However, the value of land classified as non-agricultural sector did not increase as expected due to recession. On top of that, Nepal Rastra Bank has instructed that the valuation of real estate should not increase by more than two-thirds of the previous valuation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the slump in real estate business, which has been declining for a long time, continued till mid-October as well, the businessmen engaged in this profession have given up all hope. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Land Management and Records said that the real estate business was affected to some extent by the Dashain holidays in October. But as per the officials, the biggest impact was due to the effects of the global economic recession on Nepal's economy.</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"">Around 34,700 real estate properties were bought and sold throughout mid-August to mid-September and 33,000 from mid-July to mid-August. Businessmen were expecting that the decline in business rate would stop after the number of transactions increased a little. But after the number of transactions decreased again by mid-October to 25,800, a businessman said that it is not possible to predict how much the transaction will go down.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was at its peak, up to 88,000 real estate properties were bought and sold per month, while in normal times, 50,000 to 60,000 were transacted. In contrast, the transactions in mid-September to mid-October has been 50 percent lower than normal times and 70 percent lower than the peak period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-July, the revenue was only Rs 2.73 billion, which reached Rs 3.5 billion by mid-August. But by mid-October again, only registration fees worth Rs 1.36 billion were collected. Apart from land revenue offices of Kalanki, Chabhil and Lalitpur, the registration fee of any other office could not even reach Rs 10 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was high, revenue of Rs 10 billion used to be collected in one month. Revenue of Rs 6 billion to Rs 7 billion used to be collected even during normal times. With the slowdown in real estate business, the monthly revenue collection dropped to around Rs 3 to 4 billion. It further declined to Rs 2.5 billion by mid-October. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15926', 'image' => '20221020033234_Real estate.jpg', 'article_date' => '2022-10-20 15:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16184', 'article_category_id' => '1', 'title' => 'US Dollar Becomes All-Time High ', 'sub_title' => '', 'summary' => 'October 20: The American dollar is continuously rising against the Nepali currency of late. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: The American dollar is continuously rising against the Nepali currency of late. As per the foreign currency exchange rate determined by Nepal Rastra Bank for today, the buying rate of US$ 1 is Rs 132.54 while the selling rate is Rs 133.14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The buying rate of a unit of greenback was Rs 131.48 and the selling rate Rs 132.8 on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the central bank has fixed the buying rate of one euro at Rs 129.65 and the selling rate at Rs 130.24 for today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali currency has depreciated with the increase in the value of the US dollar in the international market. The Nepali currency is pegged with the Indian rupee at a fixed exchange rate and the Nepali currency is impacted as the Indian currency's value decreases when the value of US dollar rises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the increase in the value of the US dollar will have positive impact on the income from remittances, tourism revenue and export trade, it will leave negative impact on the overall economy.</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 economists, since the import is greater than the export, the rising value of US dollar means the trade deficit would go up further. This will also have negative impact on the balance of payment and foreign currency reserve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of imported goods, fuel and other commodities as well as the principal and interest amount would rise with the increase in the value of US dollar. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15925', 'image' => '20221020024942_dolar.jpg', 'article_date' => '2022-10-20 14:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16183', 'article_category_id' => '1', 'title' => 'Feud between Bankers and Businessmen Over Interest Rates', 'sub_title' => '', 'summary' => 'October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen. Businessmen staged a protest against the rising interest rate by closing the market and submitting a formal memorandum to the concerned authorities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the bankers say that there is no possibility of lowering the interest rate immediately due to the market conditions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The market of Birendranagar was closed last Friday on the call of the Surkhet Chamber of Commerce and Industry to protest against the hike in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They have formed a joint struggle committee and announced further protest programmes. In the center as well, commercial organizations such as the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC), and Hotel Association of Nepal (HAN) have formally opposed the spiraling interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyay, chairman of the Nepal Bankers Association and Chief Executive Officer of the Agriculture Development Bank, said that the capital cost of banks has increased due to lack of liquidity, and the interest rates of loans have become expensive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"In the current situation, the cost of banks has increased by 10 per cent," he said, "Therefore, it is natural for the interest rate to increase." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks have fixed the interest rate according to the provisions of Nepal Rastra Bank. Upadhyay claimed that there is no possibility of reducing the interest rates on loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest on loan by adding a certain per cent premium to their base rate which is maintained every quarter. In the case of old borrowers, even if the premium does not change, the interest rate of the loan increases when the base rate increases.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first quarter of the current fiscal year (FY), the interest rate on loans has become expensive due to the increase in the base rate of banks. According to the reports published by the banks, the average base rate of commercial banks has reached about 10 per cent by mid-October. As banks add up to 7 percentage points as premium to the base rate, it seems that the interest rate of bank loans will reach up to 17 percent. However, the base rate of most of the banks have exceeded 10 percent. Because of this, the interest rate of the loan has become more expensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks, which have been keeping the interest rates on deposits stable for six months through the umbrella organization, increased them by 10 per cent from mid-September. Although the Ministry of Finance tried to intervene, an expert committee formed by the ministry suggested the government not to meddle with affairs looked after by the central bank.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15924', 'image' => '20221020014212_interest ratee.jpg', 'article_date' => '2022-10-20 13:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16182', 'article_category_id' => '1', 'title' => 'CAAN Forms Probe Committee to Study Safety of Paragliding in Nepal', 'sub_title' => '', 'summary' => 'October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation governing body of Nepal on Wednesday formed the probe committee headed by its deputy director general Hansraj Pandey after the accident killed a pilot of Tribhuvan Army Club during the ongoing Ninth National Games. CAAN had indefinitely banned paragliding across the country following the accident that occurred earlier this week. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has made it clear that it will reopen paragliding based on suggestions provided by the probe committee.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN Spokesperson Jagannath Niraula informed that the committee will submit its report as soon as possible. “A decision will be taken to reopen paragliding after receiving the report,” said Niraula.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the committee has been formed to provide suggestions for proper management of paragliding and to ensure safety of the pilots and tandem divers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN had banned all kinds of paragliding activities including sporting competitions, recreation and commercial flights after Nishim Thapa of TAC succumbed to injuries after falling off his glider during a competition on October 17. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, CAAN also received a report from the International Civil Aviation Organisation (ICAO) which states that the aviation safety rate of Nepal has increased to 70.10 percent. Spokesperson Niraula said that CAAN is committed to improve the aviation safety rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ICAO had conducted an audit of aviation safety of Nepal in April. The final report of the audit states that Nepal has made a significant improvement in aviation safety. As per the report, Nepal ranks among the top countries in Asia in terms of aviation safety. </span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15923', 'image' => '20221020104248_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-20 10:42:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16181', 'article_category_id' => '1', 'title' => '‘Use of Pesticides Poses Serious Threat to Agriculture’', 'sub_title' => '', 'summary' => 'October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. They made such remark during an interaction on the topic of ‘Organic Farming: Revitalizing the Food System’ organized on the occasion of the 42<sup>nd</sup> World Food Day on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Food for Agriculture Campaign, National Farmers’ Group among others were present during the interaction. Participants of the interaction programme concluded that the use of pesticides have not only affected human health but also caused adverse effects on soil, water and environment. They argued that the use of pesticides has also affected production growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of the National Inclusion Commission Dr Ram Krishna Timilsina expressed his views that the agriculture sector is facing problems because the universities of Nepal only focus on producing scholars but fail to realize the need of imparting technical skills. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He accused the government of displaying dual character. He said that the government has not been able to clearly state whether it is possible to set up chemical fertilizer plant in the country or not.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the production of food can be increased by providing grants to small and medium-scale farmers and concessional loans to big farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government needs to encourage commercial farming in order to increase production. Small farmers need to be given grants while corporate farmers must be availed concessional loans,” said Timalsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the programme, Senior Scientist of the Nepal Agriculture Research Council Bal Krishna Joshi informed that the traditional food grains are comparatively more healthy than hybrid food.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15922', 'image' => '20221020102244_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2022-10-20 10:22:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16180', 'article_category_id' => '1', 'title' => '11:37 am Auspicious Time for Bhai Tika ', 'sub_title' => '', 'summary' => 'October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year's Tihar festival starts from October 22, Saturday with the observance of Yamadeepdan, the offerings of lamps to Yamadeva (the deity of death). The religious belief is that the celebration of Yamadeepdan will prevent the devotee from facing untimely death. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive director of the committee Surya Prasad Dhungel said Dhantrayodashi (Dhanteras) should also be observed same day. The Kag Tihar, the festival of crow, falls on October 23 and Laxmi Puja (worship of Hindu Goddess Laxmi), one of the major celebrations of the Tihar festival, falls on Monday, October 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">October 25 is the day for Gai Puja when cow is cow worshipped with Hindu rituals. </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"">“We will observe solar eclipse the same day,” said Dhungel. </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"">October 26 is the Gobardhan Puja, the day of worshipping the ox. The Newar community celebrates the Mha Puja (worship of the self) on the same day. The day also marks the commencement of the Nepal Sambat 1143. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tika for this year's Tihar festival is being observed on October 27 when sisters and brothers exchange the saptarangi tika (seven-coloured tika) on the occasion. Sisters put tika on the forehead of their brothers wishing their wellbeing and longevity and offer them special delicacies. In return brothers also put tika on them and give gifts to their sisters. The Newar community celebrates the Kija Puja the same day. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15921', 'image' => '20221019044902_bhaitika.jpg', 'article_date' => '2022-10-19 16:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16179', 'article_category_id' => '1', 'title' => '5.9 Magnitude Earthquake Jolts Kathmandu Valley ', 'sub_title' => '', 'summary' => 'October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake occurred at 3.07 pm, according to the National Seismological Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seismologist Dr Mukunda Bhatatrai said the earthquake jolted Sindhupalchowk, Dolakha, Nuwakot, Rasuwa, Kathmandu Valley and Dhading. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15920', 'image' => '20221019042812_Earthquake_qHefATN.jpg', 'article_date' => '2022-10-19 16:27:27', '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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The board has clarified that the process of issuing the license to the brokers and stock exchange company is not against the Election Code of Conduct.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Election Commission had recently sought clarification with SEBON regarding why it should not halt the process of issuing license when the Election Code of Conduct has already been enforced since September 28. The Election Commission had instructed the board to present a written clarification within three days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board responded saying that the process of issuing license to the brokers and new stock exchange company was initiated before the Election Code of Conduct came into force. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the board Binay Dev Acharya argued that the topic of issuing license did not surface right now but was pre-planned since a long time. He said that the board took steps in accordance with the budget announcement of the government in order to make the secondary market more competitive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board had called for applications to operate a new stock exchange company and two commodity exchanges along with broker's license on the September 18. The Election Commission enforced the Election Code of Conduct ten days later.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the board, the capital requirement for new broker license has been fixed between Rs 200 million to Rs 1.5 billion. Brokers will be issued three different types of licenses based on their capital structure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the new provision, the first kind of brokers providing limited services of stock market transaction require a minimum capital of Rs 200 million to acquire license. Likewise, the brokers providing services like share transaction, depository participant, investment consultancy, investment management and margin business need to have a minimum paid up capital of Rs 600 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15935', 'image' => '20221021015419_Sebonnn.jpg', 'article_date' => '2022-10-21 13:53:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16189', 'article_category_id' => '1', 'title' => 'Tea Board of India Lifts Ban on Blending of Tea to the Relief of Nepal's Tea Industry', 'sub_title' => '', 'summary' => 'October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">October 21: The Tea Board of India has lifted the ban imposed on blending of tea produced in Nepal with Darjeeling tea. The export of tea produced in Nepal is expected to grow with the board’s decision to remove the ban that was in place since one year. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had written a letter to the Tea Board of India requesting the board to allow mixing of tea produced in Nepal and other provinces of India with the tea produced in Darjeeling.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board ruled in favour of Tata and lifted the ban effective from Tuesday (October 18). </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the Telegraph, the Tea Board of India issued a notification on Tuesday which will let sellers mix Darjeeling tea with any other varieties, especially Nepal tea in their packs — as long as the end product does not claim to be an exclusive item covered by the geographical indication (GI) label.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, the board had issued a notice instructing tea producers to place tags in tea packs that clearly show the GI lable indicating the origin of the tea. The notice issued on November 11, 2021 had also banned mixing of tea produced in different places. Due to this decision, the sale of Darjeeling tea took a nosedive and had to be sold at throw-away prices.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">President of Nepal Tea Producers Association Suresh Mittal welcomed the latest decision of the Tea Board of India and said that the move is expected to boost the sale of tea produced in Nepal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Mittal, Tata Consumer Products Limited had stopped purchasing tea produced in Darjeeling about a year ago after the board made it mandatory to keep GI labels which did not allow blending of a varieties of tea. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Tata Consumer Products Limited had been purchasing over one thousand tons of tea produced in Darjeeling. This amount is 15 percent of the total production in the region. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The decision to ban the mixing of tea did not go well with some of the board members and also the central ministry. Due to the setback in sale, the board finally decided to revoke the decision.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The board’s decision is a relief to the tea industry of Nepal which is facing stiff opposition from Indian lawmakers in the parliament.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">A total of 40 MPs of India had filed a motion in the Provincial Assembly of West Bengal with 11 serious allegations against Nepal’s tea industry, alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market. If the registered motion is passed, there will be a problem for the tea produced in Nepal to get access to the Indian market. However, the board’s decision is likely to favour Nepal, says Mittal.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Nepal has been exporting tea worth Rs 3.5 billion to India annually. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15933', 'image' => '20221021113420_20221014010853_Tea.jpg', 'article_date' => '2022-10-21 11:33:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16192', 'article_category_id' => '1', 'title' => 'NCC to Help Promote Export of Readymade Garments', 'sub_title' => '', 'summary' => 'October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">October 21: Nepal Chamber of Commerce is going to support industrialists to increase the export of ready-made garments by helping in the international marketing and branding. Rajendra Malla, president of the chamber, said they are preparing to cooperate with industrialists for promoting the market of Nepali ready-made garments through the international branch under the chamber.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">During an interaction with the newly elected officials of Nepal Readymade Garment Industry Association at the chamber building in Jamal, President Malla said that export promotion is the only option to reduce the growing trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">“The chamber will help to increase the export of ready-made garments through Nepal’s embassies abroad and international branches of the chamber,” said Malla.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Recalling that in the 1990s, ready-made garments worth Rs 11 billion were exported annually from Nepal, Malla said that it is unfortunate that garments worth only Rs 7 billion are being exported at present. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:11.0pt"><span style="font-family:"Arial","sans-serif"">Pashupati Dev Pandey, the newly elected president of Nepal Readymade Garment Industry Association, said that it is ironic that the clothes used for climbing Mount Everest cannot be produced within the country, even though Nepal is proud to be the country of Mount Everest. Pandey said that their target is to export ready-made garments worth Rs 10 billion in the current fiscal year.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15932', 'image' => '20221021012824_NCCC.jpg', 'article_date' => '2022-10-21 13:27:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16190', 'article_category_id' => '1', 'title' => 'Consumers' Awareness Imperative to Curb Black Marketing: Experts ', 'sub_title' => '', 'summary' => 'October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 21: Experts say that consumers themselves should be more aware to curb black marketing in the wake of festivals. Market frauds including adulteration of food and irregularities have been reported in media of late. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The speakers during a recent meeting of Consumers' Awareness Campaign said the traders take advantage of festive season and cheat the consumers, which needs to be curbed with collective efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They stressed that informed and aware consumers have important role to ensure availability of standard and quality foods in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Former secretary of the government, Krishna Hari Banskota, said time has come for consumers' activism and awareness so that they would not be deprived of their rights. He added that impunity is thriving in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, another former secretary of government, Dr Hari Dahal, shared that the consumer rights activists and consumers could work in unison to control such irregularities in the market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Director at the Department of Commerce, Bhesh Bahadur Kunwar, informed that the department was conducting market monitoring as per its resources and strength. He sought cooperation from rights bodies in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of the National Consumers' Forum Nepal, Prem Lal Maharjan, also stressed the need of unity among concerned bodies for consumers' rights. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15931', 'image' => '20221021011452_RupakPuri_Chautara_RSS_26_______.jpg', 'article_date' => '2022-10-21 13:14:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16188', 'article_category_id' => '1', 'title' => 'Industrialists Opt for Protest Against Unfair Decision of Nepal Rastra Bank', 'sub_title' => '', 'summary' => 'October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 21: Industrialists of eastern Nepal have started protests against excessive hike in interest rate and accused the central bank of favouring banks and financial institutions even when the production capacity of industries have dropped to 40 percent. They said that the Nepal Rastra Bank has been giving undue favour to the banks by ensuring that their profit does not shrink even at the expense of production cuts.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at an interaction organized by Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on Thursday, stakeholders expressed concern over the policy adopted by the central bank that ensures banks run in profit at any cost. They also complained about forceful extortion in the name of donations ahead of the elections. All these have led to a situation in which industries have been forced to limit their production to 40 percent of their total capacity, according to the stakeholders.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Industrialist Tika Raj Dhakal shared that the political parties, leaders and activists have been seeking donations even though the industrialists have been requesting them not to ask for donations to the industries that are not in operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dhakal said that they opted for street protests after the leaders of political parties turned a deaf ear to their problems.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at the programme, other stakeholders including Bhim Poudel, Rajendra Raut and Suyash Raj Pyakurel were unanimous in saying that the policy adopted by Nepal Rastra Bank has badly affected the industrial sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Participants of the programme said that it has become difficult to operate industries and businesses due to the Covid-19 pandemic followed by the Russia-Ukraine war which resulted in rise in prices of petroleum products and disruption of supply chain. In addition to that, liquidity crisis in the banking system, decline in credit flow and increase in interest rates have all created additional burden to the business community.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Province 1 chapter of FNCCI has announced a three-phase protest programme based on suggestions from the district and municipal associations of FNCCI. Participants of the programme have also decided to submit a 17- point memo to Nepal Rastra Bank demanding the central bank to amend its decision in relation to hike in interest rates.</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15930', 'image' => '20221021102455_market monitoring.jpg', 'article_date' => '2022-10-21 10:24:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16191', 'article_category_id' => '1', 'title' => 'Nimbus Start Exporting Food Items', 'sub_title' => '', 'summary' => 'October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 21: Nimbus, a manufacturing and trading enterprise, has started exporting food items from Nepal. The company started exporting various food items under the Byanjan brand since the festival Dashain. The company informed that the currently exported items include pickles, flour, chickpeas and pulses. As per the information, the goods are being exported to Canada for the time being. The company plans to export food products to other countries as well in the future. The company said that export of food items will help the economy by bringing foreign currency into the country.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-21', 'modified' => '2022-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '15929', 'image' => '20221021012334_export.jpg', 'article_date' => '2022-10-21 13:22:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16187', 'article_category_id' => '1', 'title' => 'Amnesty Int'l Calls on Qatar to Uphold Labour Rights ahead of World Cup ', 'sub_title' => '', 'summary' => 'October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Amnesty International (AI) has sought reassurance from the Qatari authorities regarding the promised labour reforms now and beyond the World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The UK-based human rights organisation made such call in a press statement on Thursday amid allegation of widespread abuse of migrant workers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the statement, AI’s final pre-tournament briefing on migrant workers’ conditions has revealed that abuses remain rife across the Gulf nation. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With just one month left for the mega event to kick-off, the human rights organization again reiterated its call on FIFA and Qatar to establish a compensation fund for abused migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to RSS, the state-owned national news agency of Nepal, AI said Qatar’s overhaul of its labour system since 2017 has led to some noticeable improvements for the country’s two million migrant workers - hundreds of thousands of whom have been engaged in projects essential to the World Cup. However, lack of effective implementation and enforcement continues to undermine their impact on migrant workers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Although Qatar has made important strides on labour rights over the past five years, it’s abundantly clear that there is a great distance still to go. Thousands of workers remain stuck in the familiar cycle of exploitation and abuse thanks to legal loopholes and inadequate enforcement,” RSS quoted Steve Cockburn, Amnesty International’s Head of Economic and Social Justice Department, as saying. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“With the World Cup looming, the job of protecting migrant workers from exploitation is only half done, while that of compensating those who have suffered abuses has barely started. It’s also imperative that Qatar commits to improving conditions in the long term. Progress must not grind to a halt once the World Cup roadshow leaves Doha,” he added. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Last month, a global poll commissioned by Amnesty International revealed overwhelming support among both the general public and football fans for the compensation of migrant workers who suffered during preparations for the 2022 World Cup. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The findings back the #PayUpFIFA campaign launched by a coalition of human rights organizations—including Amnesty International—fans groups and trade unions in May 2022, which calls on FIFA and the Qatari authorities to establish a comprehensive remediation programme to compensate workers and prevent future abuses, RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is estimated that there are more than 300,000 Nepali workers in Qatar. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15928', 'image' => '20221020062952_r879874_1296x729_16-9.jpg', 'article_date' => '2022-10-20 18:28:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16186', 'article_category_id' => '1', 'title' => 'Partial Solar Eclipse to Occur on October 25 ', 'sub_title' => '', 'summary' => 'October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: A partial solar eclipse is taking place in Nepal on October 25, according to the Nepal Calendar Determination Development Committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The committee's executive director Surya Prasad Dhungel shared that the eclipse would commence from 4.52 pm and the sun will set at 5.24 pm, 32 minutes after the eclipse starts. So, the eclipse will be visible from Nepal for around 32 minutes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The eclipse will withdraw at 7.30 pm although it will not be visible from Nepal. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15927', 'image' => '20221020040933_skynews-eclipse-solar-sun-moon_5407904.jpg', 'article_date' => '2022-10-20 16:08:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16185', 'article_category_id' => '1', 'title' => 'Real Estate Business Slumps by 70 Percent', 'sub_title' => '', 'summary' => 'October 20: The real estate business has slumped by 70 percent in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 20: The real estate business has slumped by 70 percent in the country. A month between mid-September to mid-October saw 25,000 transactions related to real estate properties. The figure is almost 10,000 less than the transactions in mid-August to mid-September and 25,000 less than normal times.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the real estate business is going down each day, dozens of professions and businesses directly and indirectly connected with the real estate business are facing dire situation. An example of this is the engineers who evaluate the land. Just a few days ago, police arrested a valuator on the charge of overvaluation of the land in Jhapa when its value had slumped. The Nepal Valuers’ Association strongly opposed it and demanded an unconditional release of the valuator.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mukti Pandey, secretary general of Nepal Valuers’ Association said that due to government policy and economic recession, the price of real estate has decreased by 20 to 25 percent. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“At present, the price has decreased by 20 to 25 percent. If this situation continues for another six months, it is certain that the price of land will decrease by additional 20 to 25 percent,” said Pandey. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The government has instructed concerned bodies to demarcate agricultural and non-agricultural lands in order to implement the land use policy. In Pandey's experience, the valuation of land that is or has been in the agricultural sector has decreased sharply. However, the value of land classified as non-agricultural sector did not increase as expected due to recession. On top of that, Nepal Rastra Bank has instructed that the valuation of real estate should not increase by more than two-thirds of the previous valuation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">As the slump in real estate business, which has been declining for a long time, continued till mid-October as well, the businessmen engaged in this profession have given up all hope. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Land Management and Records said that the real estate business was affected to some extent by the Dashain holidays in October. But as per the officials, the biggest impact was due to the effects of the global economic recession on Nepal's economy.</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"">Around 34,700 real estate properties were bought and sold throughout mid-August to mid-September and 33,000 from mid-July to mid-August. Businessmen were expecting that the decline in business rate would stop after the number of transactions increased a little. But after the number of transactions decreased again by mid-October to 25,800, a businessman said that it is not possible to predict how much the transaction will go down.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was at its peak, up to 88,000 real estate properties were bought and sold per month, while in normal times, 50,000 to 60,000 were transacted. In contrast, the transactions in mid-September to mid-October has been 50 percent lower than normal times and 70 percent lower than the peak period.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">By mid-July, the revenue was only Rs 2.73 billion, which reached Rs 3.5 billion by mid-August. But by mid-October again, only registration fees worth Rs 1.36 billion were collected. Apart from land revenue offices of Kalanki, Chabhil and Lalitpur, the registration fee of any other office could not even reach Rs 10 million.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">When the real estate business was high, revenue of Rs 10 billion used to be collected in one month. Revenue of Rs 6 billion to Rs 7 billion used to be collected even during normal times. With the slowdown in real estate business, the monthly revenue collection dropped to around Rs 3 to 4 billion. It further declined to Rs 2.5 billion by mid-October. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15926', 'image' => '20221020033234_Real estate.jpg', 'article_date' => '2022-10-20 15:31:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16184', 'article_category_id' => '1', 'title' => 'US Dollar Becomes All-Time High ', 'sub_title' => '', 'summary' => 'October 20: The American dollar is continuously rising against the Nepali currency of late. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 20: The American dollar is continuously rising against the Nepali currency of late. As per the foreign currency exchange rate determined by Nepal Rastra Bank for today, the buying rate of US$ 1 is Rs 132.54 while the selling rate is Rs 133.14. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The buying rate of a unit of greenback was Rs 131.48 and the selling rate Rs 132.8 on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the central bank has fixed the buying rate of one euro at Rs 129.65 and the selling rate at Rs 130.24 for today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali currency has depreciated with the increase in the value of the US dollar in the international market. The Nepali currency is pegged with the Indian rupee at a fixed exchange rate and the Nepali currency is impacted as the Indian currency's value decreases when the value of US dollar rises. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the increase in the value of the US dollar will have positive impact on the income from remittances, tourism revenue and export trade, it will leave negative impact on the overall economy.</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 economists, since the import is greater than the export, the rising value of US dollar means the trade deficit would go up further. This will also have negative impact on the balance of payment and foreign currency reserve. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the price of imported goods, fuel and other commodities as well as the principal and interest amount would rise with the increase in the value of US dollar. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15925', 'image' => '20221020024942_dolar.jpg', 'article_date' => '2022-10-20 14:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16183', 'article_category_id' => '1', 'title' => 'Feud between Bankers and Businessmen Over Interest Rates', 'sub_title' => '', 'summary' => 'October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">October 20: The rise in interest rates on loans flowing from banks and financial institutions has resulted in dispute between bankers and businessmen. Businessmen staged a protest against the rising interest rate by closing the market and submitting a formal memorandum to the concerned authorities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">However, the bankers say that there is no possibility of lowering the interest rate immediately due to the market conditions.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The market of Birendranagar was closed last Friday on the call of the Surkhet Chamber of Commerce and Industry to protest against the hike in interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They have formed a joint struggle committee and announced further protest programmes. In the center as well, commercial organizations such as the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC), and Hotel Association of Nepal (HAN) have formally opposed the spiraling interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Anil Kumar Upadhyay, chairman of the Nepal Bankers Association and Chief Executive Officer of the Agriculture Development Bank, said that the capital cost of banks has increased due to lack of liquidity, and the interest rates of loans have become expensive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"In the current situation, the cost of banks has increased by 10 per cent," he said, "Therefore, it is natural for the interest rate to increase." </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks have fixed the interest rate according to the provisions of Nepal Rastra Bank. Upadhyay claimed that there is no possibility of reducing the interest rates on loans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest on loan by adding a certain per cent premium to their base rate which is maintained every quarter. In the case of old borrowers, even if the premium does not change, the interest rate of the loan increases when the base rate increases.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the first quarter of the current fiscal year (FY), the interest rate on loans has become expensive due to the increase in the base rate of banks. According to the reports published by the banks, the average base rate of commercial banks has reached about 10 per cent by mid-October. As banks add up to 7 percentage points as premium to the base rate, it seems that the interest rate of bank loans will reach up to 17 percent. However, the base rate of most of the banks have exceeded 10 percent. Because of this, the interest rate of the loan has become more expensive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks, which have been keeping the interest rates on deposits stable for six months through the umbrella organization, increased them by 10 per cent from mid-September. Although the Ministry of Finance tried to intervene, an expert committee formed by the ministry suggested the government not to meddle with affairs looked after by the central bank.</span></span></p> <p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15924', 'image' => '20221020014212_interest ratee.jpg', 'article_date' => '2022-10-20 13:41:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16182', 'article_category_id' => '1', 'title' => 'CAAN Forms Probe Committee to Study Safety of Paragliding in Nepal', 'sub_title' => '', 'summary' => 'October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Following a freak accident in Pokhara some days ago, the Civil Aviation Authority of Nepal (CAAN) has formed a high-level probe committee to study the safety of paragliding in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The aviation governing body of Nepal on Wednesday formed the probe committee headed by its deputy director general Hansraj Pandey after the accident killed a pilot of Tribhuvan Army Club during the ongoing Ninth National Games. CAAN had indefinitely banned paragliding across the country following the accident that occurred earlier this week. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN has made it clear that it will reopen paragliding based on suggestions provided by the probe committee.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN Spokesperson Jagannath Niraula informed that the committee will submit its report as soon as possible. “A decision will be taken to reopen paragliding after receiving the report,” said Niraula.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the committee has been formed to provide suggestions for proper management of paragliding and to ensure safety of the pilots and tandem divers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CAAN had banned all kinds of paragliding activities including sporting competitions, recreation and commercial flights after Nishim Thapa of TAC succumbed to injuries after falling off his glider during a competition on October 17. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, CAAN also received a report from the International Civil Aviation Organisation (ICAO) which states that the aviation safety rate of Nepal has increased to 70.10 percent. Spokesperson Niraula said that CAAN is committed to improve the aviation safety rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">ICAO had conducted an audit of aviation safety of Nepal in April. The final report of the audit states that Nepal has made a significant improvement in aviation safety. As per the report, Nepal ranks among the top countries in Asia in terms of aviation safety. </span></span></p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15923', 'image' => '20221020104248_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-20 10:42:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16181', 'article_category_id' => '1', 'title' => '‘Use of Pesticides Poses Serious Threat to Agriculture’', 'sub_title' => '', 'summary' => 'October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 20: Campaigners have underlined the importance of organic farming for revitalizing the food system. They made such remark during an interaction on the topic of ‘Organic Farming: Revitalizing the Food System’ organized on the occasion of the 42<sup>nd</sup> World Food Day on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Representatives of the Food for Agriculture Campaign, National Farmers’ Group among others were present during the interaction. Participants of the interaction programme concluded that the use of pesticides have not only affected human health but also caused adverse effects on soil, water and environment. They argued that the use of pesticides has also affected production growth. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of the National Inclusion Commission Dr Ram Krishna Timilsina expressed his views that the agriculture sector is facing problems because the universities of Nepal only focus on producing scholars but fail to realize the need of imparting technical skills. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He accused the government of displaying dual character. He said that the government has not been able to clearly state whether it is possible to set up chemical fertilizer plant in the country or not.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argued that the production of food can be increased by providing grants to small and medium-scale farmers and concessional loans to big farmers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The government needs to encourage commercial farming in order to increase production. Small farmers need to be given grants while corporate farmers must be availed concessional loans,” said Timalsina.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the programme, Senior Scientist of the Nepal Agriculture Research Council Bal Krishna Joshi informed that the traditional food grains are comparatively more healthy than hybrid food.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-20', 'modified' => '2022-10-20', 'keywords' => '', 'description' => '', 'sortorder' => '15922', 'image' => '20221020102244_PemaLama_Banepa_RSS_27_IMG_20210911_160158.jpg', 'article_date' => '2022-10-20 10:22:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16180', 'article_category_id' => '1', 'title' => '11:37 am Auspicious Time for Bhai Tika ', 'sub_title' => '', 'summary' => 'October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: The Nepal Calendar Fixation Committee has announced 11:37 am on October 27 as the auspicious time for putting tika or colourful marks on the forehead during this year's Tihar festival. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year's Tihar festival starts from October 22, Saturday with the observance of Yamadeepdan, the offerings of lamps to Yamadeva (the deity of death). The religious belief is that the celebration of Yamadeepdan will prevent the devotee from facing untimely death. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Executive director of the committee Surya Prasad Dhungel said Dhantrayodashi (Dhanteras) should also be observed same day. The Kag Tihar, the festival of crow, falls on October 23 and Laxmi Puja (worship of Hindu Goddess Laxmi), one of the major celebrations of the Tihar festival, falls on Monday, October 24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">October 25 is the day for Gai Puja when cow is cow worshipped with Hindu rituals. </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"">“We will observe solar eclipse the same day,” said Dhungel. </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"">October 26 is the Gobardhan Puja, the day of worshipping the ox. The Newar community celebrates the Mha Puja (worship of the self) on the same day. The day also marks the commencement of the Nepal Sambat 1143. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tika for this year's Tihar festival is being observed on October 27 when sisters and brothers exchange the saptarangi tika (seven-coloured tika) on the occasion. Sisters put tika on the forehead of their brothers wishing their wellbeing and longevity and offer them special delicacies. In return brothers also put tika on them and give gifts to their sisters. The Newar community celebrates the Kija Puja the same day. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15921', 'image' => '20221019044902_bhaitika.jpg', 'article_date' => '2022-10-19 16:48:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16179', 'article_category_id' => '1', 'title' => '5.9 Magnitude Earthquake Jolts Kathmandu Valley ', 'sub_title' => '', 'summary' => 'October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 19: An earthquake measuring 5.9 on the Richter scale was recorded this afternoon with its epicenter in Nepal-China border. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake occurred at 3.07 pm, according to the National Seismological Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Seismologist Dr Mukunda Bhatatrai said the earthquake jolted Sindhupalchowk, Dolakha, Nuwakot, Rasuwa, Kathmandu Valley and Dhading. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-19', 'modified' => '2022-10-19', 'keywords' => '', 'description' => '', 'sortorder' => '15920', 'image' => '20221019042812_Earthquake_qHefATN.jpg', 'article_date' => '2022-10-19 16:27:27', '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
