October 17: Nepal's urban population has reached 66.08 percent.…
October 17: Nepal's urban population has reached 66.08 percent.…
October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is…
October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50…
October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment…
October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time…
October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until…
October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting…
October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022.…
October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in…
October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and…
October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter…
October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made…
October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required…
October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world…
October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC on November…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></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> <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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16158', 'article_category_id' => '1', 'title' => 'Import Ban to Remain in Force till mid-December', 'sub_title' => '', 'summary' => 'October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ban imposed on the import of these items on April 26 was to expire last Friday. However, the Ministry of Industry, Commerce and Supplies published a notice on the Nepal Gazette on Friday extending the ban period. As the foreign exchange reserves were under pressure, the ministry had initially published a notice on the Nepal Gazette on April 26 and banned the import of 10 luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the 10 items, the ban on food items like crisps along with color televisions larger than 32 inches, playing cards, diamonds other than raw materials, cigarettes and tobacco products and all kinds of toys was removed on August 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry, however, extended the ban on import of four items using the powers given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013. According to the ministry, the purpose of the ban is to protect the country's external financial sector and balance of payments by preventing deficits of the foreign currency or by increasing the extremely low foreign currency reserves.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been tightening imports since last winter. Initially, Nepal Rastra Bank set a limit on import quota of silver. Last December, the central bank had made arrangements requiring 50 and 100 percent cash margin for opening LC for the import of luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The chief executive officers of commercial banks were verbally instructed by NRB to avoid opening LCs for the import of vehicles for private use. Eventually, as a last resort, a formal ban was imposed on the import of luxury items on April 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of other goods except two-wheelers and four-wheelers never stopped.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madan Mittal, former secretary general of Nepal Foreign Trade Association, says that the ban on the import of goods other than vehicles and large machinery tools has only give an opportunity to the smugglers to bring such goods into the country through illegal channels.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15899', 'image' => '20221016024624_20220717124909_nada.jpg', 'article_date' => '2022-10-16 14:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16157', 'article_category_id' => '1', 'title' => 'Monsoon Starts Exiting Nepal from Saturday ', 'sub_title' => '', 'summary' => 'October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin regarding the departure of monsoon, the division said that monsoon has exited from all provinces except Province 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The monsoon that entered Nepal from the eastern belt of the country on June 5 this year exited Sudurpaschim Province, Karnali Province, Lumbini Province, Gandaki Province and Madhesh Province," read the special monsoon bulletin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It would take few more days for the monsoon to exit from the remaining parts of the country, the division said. Generally monsoon exits Nepal by October 2 but this year it was extended by few more days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15898', 'image' => '20221016010123_HemantKC_Jajarkot_RSS_09.jpg', 'article_date' => '2022-10-16 13:00:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16156', 'article_category_id' => '1', 'title' => 'Nepal Ranks Second in Global Hunger Index among South Asian Countries', 'sub_title' => '', 'summary' => 'October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. The Global Hunger Index 2022 released recently shows that Nepal ranks behind Sri Lanka in the list among South Asian Countries. It means that Nepal is one of the countries affected the least by hunger in South Asia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Overall, Nepal ranks 81st out of the 121 countries in the Global Hunger Index 2022 ranking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a score of 19.1, Nepal has a level of hunger that is “moderate”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Global Hunger Index (GHI) is a tool for comprehensively measuring and tracking hunger at global, regional, and national levels. GHI scores are based on the values of four component indicators - undernourishment, child stunting, child wasting and child mortality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Undernourishment is determined on the basis of the share of the population with insufficient caloric intake while child stunting is measured based on the share of children under age five who have low height for their age, reflecting chronic under-nutrition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, child wasting is determined by the share of children under age five who have low weight for their height, reflecting acute under-nutrition and child mortality is based on the share of children who die before their fifth birthday, partly reflecting the fatal mix of inadequate nutrition and unhealthy environments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Based on the values of the four indicators, a GHI score is calculated on a 100-point scale reflecting the severity of hunger, where 0 is the best possible score (no hunger) and 100 is the worst. Each country’s GHI score is classified by severity, from low to extremely alarming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In South Asia, neighbouring India ranked 107 in the Global Hunger Index 2022 with its child wasting rate at 19.3 per cent being the highest in the world, according to the Economic Times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The level of hunger in India with a score of 29.1 has been labelled "serious".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sri Lanka with a global ranking of 64 tops the list in South Asia followed by Nepal (81), Bangladesh (84), Pakistan (99), India (107), and Afghanistan (109).</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15897', 'image' => '20221016111519_GHI-2-1.jpeg', 'article_date' => '2022-10-16 11:14:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16155', 'article_category_id' => '1', 'title' => 'FNCCI and IFC Preparing Joint Report to Support Policymakers ', 'sub_title' => '', 'summary' => 'October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal and to record the contribution of this sector to the national economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report is expected to be an important document for policymakers. It will present statistics, concepts, analyses and policy recommendations in regard to the impact of the investment from the private sector to the nation's development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This collaboration between FNCCI and IFC has set the objective of providing the required information for policy debate among the government, the private sector, development partners and other stakeholders on issues related to the private sector development, the FNCCI said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There has been a qualitative growth of the private sector in Nepal since 1990. More than 99 percent formal businesses are under the ownership of the private sector. This includes the notable investment made in the social sectors such as education and health. The private sector has a growing presence in terms of capital formation and creating employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Further development and strengthening of the private sector is essential in order to achieve Nepal's developmental goals. This would be possible only through policy reforms and a debate between the public and private sectors," FNCCI president Shekhar Golchha said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC, as the largest development partner in the world, said it is committed to extend cooperation for the development of market and opportunities in Nepal. It is necessary to further improve the investment environment in the country for domestic and foreign investors, IFC resident representative for Nepal, Babacar S Faye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC is delivering on its ambitious target for Nepal by significantly increasing investments and advisory services. IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused on the private sector in emerging markets. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15896', 'image' => '20221016103627_1665825434.jpg', 'article_date' => '2022-10-16 10:35:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16154', 'article_category_id' => '1', 'title' => 'SEBON Authorized to Suspend Share Transactions of Merging Banks', 'sub_title' => '', 'summary' => 'October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The central bank amended the Regulation for Merger and Acquisition of Banks and Financial Institutions 2073 on Thursday to make arrangements for the suspension and release of share transactions to be done in accordance to the provisions made by the SEBON.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At present, the share transaction of banks and financial institutions gets suspended after signing an agreement for merger or acquisition and remains in force until the merging institutions start integrated transactions. The central bank has taken a flexible approach after increasing complaints that the suspension of share trading in the secondary market for a long time during merger or acquisition adversely affects the investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the monetary policy of the current fiscal year, NRB has mentioned that the existing provision of suspending share trading during merger or acquisition will be cancelled, and provision will be made as prescribed by SEBON. NRB has amended the regulation to implement the arrangements made by the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although NRB has given the right to decide on the suspension of share trading to SEBON, the board has yet to decide on this matter. In the draft of the guidelines for mergers and acquisitions of organized organizations published by the board in July, it has been proposed to suspend share transactions of BFIs opting for merger and acquisition for a maximum of 15 working days. Although the board said that the guidelines will be finalized based on the suggestions of the stakeholders, the guidelines have not been passed yet.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15895', 'image' => '20221014060023_Mergerrrrr.jpg', 'article_date' => '2022-10-14 17:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16152', 'article_category_id' => '1', 'title' => '901 Climbers Granted Permits for Winter Expedition', 'sub_title' => '', 'summary' => 'October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, the highest number of permits has been issued for Mt Manaslu (8,163 m). Altogether 404 mountaineers of 38 groups were granted permits to scale this mountain during the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the department informed that it has issued permits to five persons of a group to climb the highest mountain in the world, Mt Everest (Sagarmatha). A total of 131 permits were issued to 11 groups for climbing Mt Ama Dablam (6,814 m) while permits were also issued to 144 mountaineers of 14 groups for the expedition of Mt Himlung (7,167 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thirty-four mountaineers of four different groups have received permission to scale Dhaulagiri (8,167 m) while one group has been granted permission to climb Mt Nuptse (7,855 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the department has collected over Rs 70 million in royalties from permits issued for the winter expedition this year. A total of 901 mountaineers from 68 countries including Nepal are preparing to climb various mountains and peaks. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15893', 'image' => '20221014053642_mount-manaslu.jpg', 'article_date' => '2022-10-14 17:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16151', 'article_category_id' => '1', 'title' => 'Importers Demand Lifting Ban on Import of Four Items', 'sub_title' => '', 'summary' => 'October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association issued a statement saying the government has not been able to meet the revenue collection target after banning the import of goods that generate more revenue while the businessmen who have invested billions of rupees are also suffering huge losses. The statement issued by the association reads, “All the banned items except vehicles and motorcycles are being smuggled through illegal channels. Considering this fact, the association strongly demands that the ban on the import of the remaining four items be removed as soon as possible.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had imposed a ban on the import of 10 different items since May due to the pressure on foreign exchange reserves. Although the ban on import of six different items has already been lifted, the ban on the import of cars, jeeps, vans, mobile phones worth more than US$300, motorcycles of more than 150 cc capacity and ready-made alcohol still remains.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the association, the economic activities have decreased after the Nepal Rastra Bank adopted a policy of increasing interest rates to control inflation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement further mentions that inflation has increased not due to internal reasons of Nepal, but due to external factors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers drew the attention of the government that it has become very difficult to conduct business because of the increase in interest rates as per the directive of the NRB. The association opines that the Ministry of Finance and NRB should take appropriate steps to control this, reasoning that it is having a negative impact on traders, general public and government revenue. The association argued that there is high risk of the economy going into recession due to rising interest rates at a time when there is a decline in economic activities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The association stressed that the NRB should monitor the cooperatives, stating that the institutions involved in this sector are turning problematic one after another.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that micro, small and medium enterprises have been unable to take loans from microfinance companies in sufficient quantity due to the provision that microfinance companies cannot invest more than a certain limit, the association also urged the government to remove such limit.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15892', 'image' => '20221014042405_import.jpg', 'article_date' => '2022-10-14 16:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16150', 'article_category_id' => '1', 'title' => 'Lack of Skills Troubling Aspiring Migrant Workers', 'sub_title' => 'Most of the Nepali Youths Opt for Foreign Employment without Acquiring Proper Skills', 'summary' => 'October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company sent the 31-year-old Sherpa back to Nepal last month after he could not do the carpentry work properly. Now he has been making rounds of the Department of Foreign Employment and other agencies demanding compensation for the expenses incurred while going to Qatar.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Claiming that he had to return back because the manpower company did not clearly mention the job description before leaving for Qatar, Sherpa is demanding compensation of Rs 100,000 from the manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Before leaving abroad, the manpower company told me that the work was to load and unload wood in the furniture industry. However, after reaching Qatar, I learnt that the work was related to carpentry."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sherpa, who has no carpentry skills, returned home disappointed after the company told him that he was not qualified for the hob. Sherpa, who took loans before going abroad, said that he has to auction his house if the manpower company does not return his money.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, Krishna Khatri from Morang, Urlabari, had planned to earn good money and build a new house by going abroad for foreign employment. However, his foreign employment journey also ended within one month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Khatri, who was sent to Malaysia for a light driving job, said that he was made to drive a heavy vehicle there.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"If he had learned the necessary skills before heading for foreign employment, he would not have had to end up becoming jobless, and his investment wouldn't have gone down the drains," he told New Business Age. Now he is making claims to get back Rs 55,000 from the concerned manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent days, as the number of people going for jobs abroad is increasing, the risk of landing in foreign countries without skill has increased. This has increased the chances of investment being lost.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Many suffer losses eventually because they show little interest to acquire skills despite repeated requests from the government agencies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15891', 'image' => '20221014022359_foreign emp.jpg', 'article_date' => '2022-10-14 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16148', 'article_category_id' => '1', 'title' => 'No Initiative Taken to Remove Possible Ban on Nepalese Tea by India', 'sub_title' => '', 'summary' => 'October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India 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. Nepal has been exporting tea worth Rs 3.5 billion to India annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the National Tea and Coffee Development Board (NTCDB), 11,920 metric tons of tea valued at Rs 3.79 billion rupees was exported to 33 different countries of the world in the fiscal year 2020/21. Among this, 11,472 tons of tea worth Rs 3.38 billion was exported to India alone. If India decides to ban Nepal’s tea, the farmers and tea producers of Nepal will lose a big market. Tea is cultivated in an area of 17,000 hectares in Nepal by 24,000 farmers. There are 146 small and big industries related to tea. The farmers, industrialists and businessmen involved with the tea industry are now in panic after it has become almost certain that Nepalese farmers will lose 80 percent of the market if they are not able to export tea to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NTCDB, 80 percent of tea from Nepal, including CTC and orthodox tea, goes to the Indian market and 20 percent to other 32 countries including the US, China, and the UK.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of the Department of Customs shows that tea worth Rs 2.78 billion was exported in 2019/20, Rs 3.79 billion in 2020/21 and Rs 3.43 billion in 2021/22 to third countries as well as neighbouring India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Suresh Mittal, the central president of Nepal Tea Producers Association said that tea farmers and industrialists of Nepal are distressed after a motion to ban tea from Nepal was registered with the Parliamentary Committee on Commerce and Trade in the Parliament of India with the signatures of 40 MPs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the motion was registered two months ago, Mittal maintains that the threat is considerable as the Indian government or its subordinate bodies has not issued any official view regarding it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mittal informed that they submitted a memorandum to the Prime Minister, Finance Minister, Minister for Industry, Commerce and Supplies, Minister for Foreign Affairs and the Indian Embassy in Nepal to take initiatives to avoit a ban on Nepali tea before the Indian government takes any unpleasant decision. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Mittal, 'G2G' talks should be held to resolve the non-customs barriers imposed by the Indian side on Nepalese tea and other issues. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Udaya Chapagain, advisor to the Nepal Tea Planters Association, said that the tea exported from Nepal to India is being obstructed from time to time by various levels of the government and the tea board of India, making the traders suffers under various pretexts. He emphasized that the problems related to tea export should be resolved once and for all through discussions between the governments of both the countries. He said that the government of Nepal should also take initiatives to export indigenous tea to China. Foreign Minister Dr. Narayan Khadka raised the issue of exporting tea and herbs from Nepal during his latest visit to China.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15890', 'image' => '20221014010853_Tea.jpg', 'article_date' => '2022-10-14 13:08:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16147', 'article_category_id' => '1', 'title' => 'Nepal to Prioritize Climate Adaptation and Financing during COP27 ', 'sub_title' => '', 'summary' => 'October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC on November 7-18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC slated for November 7-18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the session, Nepal being one of the countries highly vulnerable to the impact of climate change due to its sensitive geography, will raise issues concerning the impact of climate change on the mountain region with much priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate change adaptation, damages and losses, and climate finance are among issues Nepal will be raising with priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Study shows that Nepal’s highland has witnessed the temperature rise by 1.8 degree Celsius when global warming is measured at 1 degree Celsius, the major consequence of greenhouse gas effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of climate change on the entire mountainous economy and the ecosystem there, and in the low-lying areas will be the issues of priority of Nepal in the conference scheduled to be held at Sharm el-Sheikh, South Sinai, Egypt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was originally scheduled to take place from November 8-20 in 2021, but it was rescheduled owing to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will participate in the session with its special priorities on issues such as climate change adaptation and reduction, climate finance, specific issues of mountain region and financing for climate losses and damages, according to the Ministry of Forest and Environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Climate Change Management Division of the Ministry, Dr Buddhisagar Poudel, informed that Nepal is preparing to put forth the issues regarding global goals related to climate adaptation in COP27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal believes that the developed countries should ensure climate grants and finance to countries like Nepal as per their expectations. In addition to this, Nepal will be demanding additional compensation for the losses and damages caused by climate-induced disasters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During COP26, Nepal made a pledge to achieve 'net zero' carbon emissions by 2045. ‘Net zero emissions’ refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere, according to the Climate Council. </span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Climate Change and Environment Advisor to the Prime Minister, Dr Madhav Bahadur Karki, said issues including assistances for financial cooperation, efficiency enhancement and technology development will be raised in the conference. Similarly, the management and transparency of the commitments done by developed countries to provide 100 million dollar to developing countries to fight the impacts of climate change by 2023 will also be put up. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal along with various countries in the world has submitted its NDCs report. NDCs represent efforts by each country to reduce national emission and adapt to the impacts of climate change. The conference will prioritise required resources for the implementation of the report. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15889', 'image' => '20221014115048_iuydf2022060504340420220605044309.jpg', 'article_date' => '2022-10-14 11:49:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></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> <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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16158', 'article_category_id' => '1', 'title' => 'Import Ban to Remain in Force till mid-December', 'sub_title' => '', 'summary' => 'October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ban imposed on the import of these items on April 26 was to expire last Friday. However, the Ministry of Industry, Commerce and Supplies published a notice on the Nepal Gazette on Friday extending the ban period. As the foreign exchange reserves were under pressure, the ministry had initially published a notice on the Nepal Gazette on April 26 and banned the import of 10 luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the 10 items, the ban on food items like crisps along with color televisions larger than 32 inches, playing cards, diamonds other than raw materials, cigarettes and tobacco products and all kinds of toys was removed on August 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry, however, extended the ban on import of four items using the powers given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013. According to the ministry, the purpose of the ban is to protect the country's external financial sector and balance of payments by preventing deficits of the foreign currency or by increasing the extremely low foreign currency reserves.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been tightening imports since last winter. Initially, Nepal Rastra Bank set a limit on import quota of silver. Last December, the central bank had made arrangements requiring 50 and 100 percent cash margin for opening LC for the import of luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The chief executive officers of commercial banks were verbally instructed by NRB to avoid opening LCs for the import of vehicles for private use. Eventually, as a last resort, a formal ban was imposed on the import of luxury items on April 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of other goods except two-wheelers and four-wheelers never stopped.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madan Mittal, former secretary general of Nepal Foreign Trade Association, says that the ban on the import of goods other than vehicles and large machinery tools has only give an opportunity to the smugglers to bring such goods into the country through illegal channels.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15899', 'image' => '20221016024624_20220717124909_nada.jpg', 'article_date' => '2022-10-16 14:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16157', 'article_category_id' => '1', 'title' => 'Monsoon Starts Exiting Nepal from Saturday ', 'sub_title' => '', 'summary' => 'October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin regarding the departure of monsoon, the division said that monsoon has exited from all provinces except Province 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The monsoon that entered Nepal from the eastern belt of the country on June 5 this year exited Sudurpaschim Province, Karnali Province, Lumbini Province, Gandaki Province and Madhesh Province," read the special monsoon bulletin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It would take few more days for the monsoon to exit from the remaining parts of the country, the division said. Generally monsoon exits Nepal by October 2 but this year it was extended by few more days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15898', 'image' => '20221016010123_HemantKC_Jajarkot_RSS_09.jpg', 'article_date' => '2022-10-16 13:00:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16156', 'article_category_id' => '1', 'title' => 'Nepal Ranks Second in Global Hunger Index among South Asian Countries', 'sub_title' => '', 'summary' => 'October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. The Global Hunger Index 2022 released recently shows that Nepal ranks behind Sri Lanka in the list among South Asian Countries. It means that Nepal is one of the countries affected the least by hunger in South Asia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Overall, Nepal ranks 81st out of the 121 countries in the Global Hunger Index 2022 ranking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a score of 19.1, Nepal has a level of hunger that is “moderate”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Global Hunger Index (GHI) is a tool for comprehensively measuring and tracking hunger at global, regional, and national levels. GHI scores are based on the values of four component indicators - undernourishment, child stunting, child wasting and child mortality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Undernourishment is determined on the basis of the share of the population with insufficient caloric intake while child stunting is measured based on the share of children under age five who have low height for their age, reflecting chronic under-nutrition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, child wasting is determined by the share of children under age five who have low weight for their height, reflecting acute under-nutrition and child mortality is based on the share of children who die before their fifth birthday, partly reflecting the fatal mix of inadequate nutrition and unhealthy environments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Based on the values of the four indicators, a GHI score is calculated on a 100-point scale reflecting the severity of hunger, where 0 is the best possible score (no hunger) and 100 is the worst. Each country’s GHI score is classified by severity, from low to extremely alarming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In South Asia, neighbouring India ranked 107 in the Global Hunger Index 2022 with its child wasting rate at 19.3 per cent being the highest in the world, according to the Economic Times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The level of hunger in India with a score of 29.1 has been labelled "serious".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sri Lanka with a global ranking of 64 tops the list in South Asia followed by Nepal (81), Bangladesh (84), Pakistan (99), India (107), and Afghanistan (109).</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15897', 'image' => '20221016111519_GHI-2-1.jpeg', 'article_date' => '2022-10-16 11:14:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16155', 'article_category_id' => '1', 'title' => 'FNCCI and IFC Preparing Joint Report to Support Policymakers ', 'sub_title' => '', 'summary' => 'October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal and to record the contribution of this sector to the national economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report is expected to be an important document for policymakers. It will present statistics, concepts, analyses and policy recommendations in regard to the impact of the investment from the private sector to the nation's development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This collaboration between FNCCI and IFC has set the objective of providing the required information for policy debate among the government, the private sector, development partners and other stakeholders on issues related to the private sector development, the FNCCI said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There has been a qualitative growth of the private sector in Nepal since 1990. More than 99 percent formal businesses are under the ownership of the private sector. This includes the notable investment made in the social sectors such as education and health. The private sector has a growing presence in terms of capital formation and creating employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Further development and strengthening of the private sector is essential in order to achieve Nepal's developmental goals. This would be possible only through policy reforms and a debate between the public and private sectors," FNCCI president Shekhar Golchha said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC, as the largest development partner in the world, said it is committed to extend cooperation for the development of market and opportunities in Nepal. It is necessary to further improve the investment environment in the country for domestic and foreign investors, IFC resident representative for Nepal, Babacar S Faye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC is delivering on its ambitious target for Nepal by significantly increasing investments and advisory services. IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused on the private sector in emerging markets. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15896', 'image' => '20221016103627_1665825434.jpg', 'article_date' => '2022-10-16 10:35:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16154', 'article_category_id' => '1', 'title' => 'SEBON Authorized to Suspend Share Transactions of Merging Banks', 'sub_title' => '', 'summary' => 'October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The central bank amended the Regulation for Merger and Acquisition of Banks and Financial Institutions 2073 on Thursday to make arrangements for the suspension and release of share transactions to be done in accordance to the provisions made by the SEBON.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At present, the share transaction of banks and financial institutions gets suspended after signing an agreement for merger or acquisition and remains in force until the merging institutions start integrated transactions. The central bank has taken a flexible approach after increasing complaints that the suspension of share trading in the secondary market for a long time during merger or acquisition adversely affects the investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the monetary policy of the current fiscal year, NRB has mentioned that the existing provision of suspending share trading during merger or acquisition will be cancelled, and provision will be made as prescribed by SEBON. NRB has amended the regulation to implement the arrangements made by the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although NRB has given the right to decide on the suspension of share trading to SEBON, the board has yet to decide on this matter. In the draft of the guidelines for mergers and acquisitions of organized organizations published by the board in July, it has been proposed to suspend share transactions of BFIs opting for merger and acquisition for a maximum of 15 working days. Although the board said that the guidelines will be finalized based on the suggestions of the stakeholders, the guidelines have not been passed yet.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15895', 'image' => '20221014060023_Mergerrrrr.jpg', 'article_date' => '2022-10-14 17:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16152', 'article_category_id' => '1', 'title' => '901 Climbers Granted Permits for Winter Expedition', 'sub_title' => '', 'summary' => 'October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, the highest number of permits has been issued for Mt Manaslu (8,163 m). Altogether 404 mountaineers of 38 groups were granted permits to scale this mountain during the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the department informed that it has issued permits to five persons of a group to climb the highest mountain in the world, Mt Everest (Sagarmatha). A total of 131 permits were issued to 11 groups for climbing Mt Ama Dablam (6,814 m) while permits were also issued to 144 mountaineers of 14 groups for the expedition of Mt Himlung (7,167 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thirty-four mountaineers of four different groups have received permission to scale Dhaulagiri (8,167 m) while one group has been granted permission to climb Mt Nuptse (7,855 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the department has collected over Rs 70 million in royalties from permits issued for the winter expedition this year. A total of 901 mountaineers from 68 countries including Nepal are preparing to climb various mountains and peaks. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15893', 'image' => '20221014053642_mount-manaslu.jpg', 'article_date' => '2022-10-14 17:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16151', 'article_category_id' => '1', 'title' => 'Importers Demand Lifting Ban on Import of Four Items', 'sub_title' => '', 'summary' => 'October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association issued a statement saying the government has not been able to meet the revenue collection target after banning the import of goods that generate more revenue while the businessmen who have invested billions of rupees are also suffering huge losses. The statement issued by the association reads, “All the banned items except vehicles and motorcycles are being smuggled through illegal channels. Considering this fact, the association strongly demands that the ban on the import of the remaining four items be removed as soon as possible.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had imposed a ban on the import of 10 different items since May due to the pressure on foreign exchange reserves. Although the ban on import of six different items has already been lifted, the ban on the import of cars, jeeps, vans, mobile phones worth more than US$300, motorcycles of more than 150 cc capacity and ready-made alcohol still remains.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the association, the economic activities have decreased after the Nepal Rastra Bank adopted a policy of increasing interest rates to control inflation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement further mentions that inflation has increased not due to internal reasons of Nepal, but due to external factors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers drew the attention of the government that it has become very difficult to conduct business because of the increase in interest rates as per the directive of the NRB. The association opines that the Ministry of Finance and NRB should take appropriate steps to control this, reasoning that it is having a negative impact on traders, general public and government revenue. The association argued that there is high risk of the economy going into recession due to rising interest rates at a time when there is a decline in economic activities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The association stressed that the NRB should monitor the cooperatives, stating that the institutions involved in this sector are turning problematic one after another.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that micro, small and medium enterprises have been unable to take loans from microfinance companies in sufficient quantity due to the provision that microfinance companies cannot invest more than a certain limit, the association also urged the government to remove such limit.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15892', 'image' => '20221014042405_import.jpg', 'article_date' => '2022-10-14 16:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16150', 'article_category_id' => '1', 'title' => 'Lack of Skills Troubling Aspiring Migrant Workers', 'sub_title' => 'Most of the Nepali Youths Opt for Foreign Employment without Acquiring Proper Skills', 'summary' => 'October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company sent the 31-year-old Sherpa back to Nepal last month after he could not do the carpentry work properly. Now he has been making rounds of the Department of Foreign Employment and other agencies demanding compensation for the expenses incurred while going to Qatar.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Claiming that he had to return back because the manpower company did not clearly mention the job description before leaving for Qatar, Sherpa is demanding compensation of Rs 100,000 from the manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Before leaving abroad, the manpower company told me that the work was to load and unload wood in the furniture industry. However, after reaching Qatar, I learnt that the work was related to carpentry."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sherpa, who has no carpentry skills, returned home disappointed after the company told him that he was not qualified for the hob. Sherpa, who took loans before going abroad, said that he has to auction his house if the manpower company does not return his money.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, Krishna Khatri from Morang, Urlabari, had planned to earn good money and build a new house by going abroad for foreign employment. However, his foreign employment journey also ended within one month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Khatri, who was sent to Malaysia for a light driving job, said that he was made to drive a heavy vehicle there.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"If he had learned the necessary skills before heading for foreign employment, he would not have had to end up becoming jobless, and his investment wouldn't have gone down the drains," he told New Business Age. Now he is making claims to get back Rs 55,000 from the concerned manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent days, as the number of people going for jobs abroad is increasing, the risk of landing in foreign countries without skill has increased. This has increased the chances of investment being lost.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Many suffer losses eventually because they show little interest to acquire skills despite repeated requests from the government agencies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15891', 'image' => '20221014022359_foreign emp.jpg', 'article_date' => '2022-10-14 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16148', 'article_category_id' => '1', 'title' => 'No Initiative Taken to Remove Possible Ban on Nepalese Tea by India', 'sub_title' => '', 'summary' => 'October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India 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. Nepal has been exporting tea worth Rs 3.5 billion to India annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the National Tea and Coffee Development Board (NTCDB), 11,920 metric tons of tea valued at Rs 3.79 billion rupees was exported to 33 different countries of the world in the fiscal year 2020/21. Among this, 11,472 tons of tea worth Rs 3.38 billion was exported to India alone. If India decides to ban Nepal’s tea, the farmers and tea producers of Nepal will lose a big market. Tea is cultivated in an area of 17,000 hectares in Nepal by 24,000 farmers. There are 146 small and big industries related to tea. The farmers, industrialists and businessmen involved with the tea industry are now in panic after it has become almost certain that Nepalese farmers will lose 80 percent of the market if they are not able to export tea to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NTCDB, 80 percent of tea from Nepal, including CTC and orthodox tea, goes to the Indian market and 20 percent to other 32 countries including the US, China, and the UK.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of the Department of Customs shows that tea worth Rs 2.78 billion was exported in 2019/20, Rs 3.79 billion in 2020/21 and Rs 3.43 billion in 2021/22 to third countries as well as neighbouring India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Suresh Mittal, the central president of Nepal Tea Producers Association said that tea farmers and industrialists of Nepal are distressed after a motion to ban tea from Nepal was registered with the Parliamentary Committee on Commerce and Trade in the Parliament of India with the signatures of 40 MPs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the motion was registered two months ago, Mittal maintains that the threat is considerable as the Indian government or its subordinate bodies has not issued any official view regarding it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mittal informed that they submitted a memorandum to the Prime Minister, Finance Minister, Minister for Industry, Commerce and Supplies, Minister for Foreign Affairs and the Indian Embassy in Nepal to take initiatives to avoit a ban on Nepali tea before the Indian government takes any unpleasant decision. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Mittal, 'G2G' talks should be held to resolve the non-customs barriers imposed by the Indian side on Nepalese tea and other issues. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Udaya Chapagain, advisor to the Nepal Tea Planters Association, said that the tea exported from Nepal to India is being obstructed from time to time by various levels of the government and the tea board of India, making the traders suffers under various pretexts. He emphasized that the problems related to tea export should be resolved once and for all through discussions between the governments of both the countries. He said that the government of Nepal should also take initiatives to export indigenous tea to China. Foreign Minister Dr. Narayan Khadka raised the issue of exporting tea and herbs from Nepal during his latest visit to China.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15890', 'image' => '20221014010853_Tea.jpg', 'article_date' => '2022-10-14 13:08:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16147', 'article_category_id' => '1', 'title' => 'Nepal to Prioritize Climate Adaptation and Financing during COP27 ', 'sub_title' => '', 'summary' => 'October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC on November 7-18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC slated for November 7-18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the session, Nepal being one of the countries highly vulnerable to the impact of climate change due to its sensitive geography, will raise issues concerning the impact of climate change on the mountain region with much priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate change adaptation, damages and losses, and climate finance are among issues Nepal will be raising with priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Study shows that Nepal’s highland has witnessed the temperature rise by 1.8 degree Celsius when global warming is measured at 1 degree Celsius, the major consequence of greenhouse gas effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of climate change on the entire mountainous economy and the ecosystem there, and in the low-lying areas will be the issues of priority of Nepal in the conference scheduled to be held at Sharm el-Sheikh, South Sinai, Egypt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was originally scheduled to take place from November 8-20 in 2021, but it was rescheduled owing to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will participate in the session with its special priorities on issues such as climate change adaptation and reduction, climate finance, specific issues of mountain region and financing for climate losses and damages, according to the Ministry of Forest and Environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Climate Change Management Division of the Ministry, Dr Buddhisagar Poudel, informed that Nepal is preparing to put forth the issues regarding global goals related to climate adaptation in COP27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal believes that the developed countries should ensure climate grants and finance to countries like Nepal as per their expectations. In addition to this, Nepal will be demanding additional compensation for the losses and damages caused by climate-induced disasters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During COP26, Nepal made a pledge to achieve 'net zero' carbon emissions by 2045. ‘Net zero emissions’ refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere, according to the Climate Council. </span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Climate Change and Environment Advisor to the Prime Minister, Dr Madhav Bahadur Karki, said issues including assistances for financial cooperation, efficiency enhancement and technology development will be raised in the conference. Similarly, the management and transparency of the commitments done by developed countries to provide 100 million dollar to developing countries to fight the impacts of climate change by 2023 will also be put up. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal along with various countries in the world has submitted its NDCs report. NDCs represent efforts by each country to reduce national emission and adapt to the impacts of climate change. The conference will prioritise required resources for the implementation of the report. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15889', 'image' => '20221014115048_iuydf2022060504340420220605044309.jpg', 'article_date' => '2022-10-14 11:49:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></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> <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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16158', 'article_category_id' => '1', 'title' => 'Import Ban to Remain in Force till mid-December', 'sub_title' => '', 'summary' => 'October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ban imposed on the import of these items on April 26 was to expire last Friday. However, the Ministry of Industry, Commerce and Supplies published a notice on the Nepal Gazette on Friday extending the ban period. As the foreign exchange reserves were under pressure, the ministry had initially published a notice on the Nepal Gazette on April 26 and banned the import of 10 luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the 10 items, the ban on food items like crisps along with color televisions larger than 32 inches, playing cards, diamonds other than raw materials, cigarettes and tobacco products and all kinds of toys was removed on August 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry, however, extended the ban on import of four items using the powers given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013. According to the ministry, the purpose of the ban is to protect the country's external financial sector and balance of payments by preventing deficits of the foreign currency or by increasing the extremely low foreign currency reserves.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been tightening imports since last winter. Initially, Nepal Rastra Bank set a limit on import quota of silver. Last December, the central bank had made arrangements requiring 50 and 100 percent cash margin for opening LC for the import of luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The chief executive officers of commercial banks were verbally instructed by NRB to avoid opening LCs for the import of vehicles for private use. Eventually, as a last resort, a formal ban was imposed on the import of luxury items on April 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of other goods except two-wheelers and four-wheelers never stopped.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madan Mittal, former secretary general of Nepal Foreign Trade Association, says that the ban on the import of goods other than vehicles and large machinery tools has only give an opportunity to the smugglers to bring such goods into the country through illegal channels.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15899', 'image' => '20221016024624_20220717124909_nada.jpg', 'article_date' => '2022-10-16 14:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16157', 'article_category_id' => '1', 'title' => 'Monsoon Starts Exiting Nepal from Saturday ', 'sub_title' => '', 'summary' => 'October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin regarding the departure of monsoon, the division said that monsoon has exited from all provinces except Province 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The monsoon that entered Nepal from the eastern belt of the country on June 5 this year exited Sudurpaschim Province, Karnali Province, Lumbini Province, Gandaki Province and Madhesh Province," read the special monsoon bulletin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It would take few more days for the monsoon to exit from the remaining parts of the country, the division said. Generally monsoon exits Nepal by October 2 but this year it was extended by few more days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15898', 'image' => '20221016010123_HemantKC_Jajarkot_RSS_09.jpg', 'article_date' => '2022-10-16 13:00:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16156', 'article_category_id' => '1', 'title' => 'Nepal Ranks Second in Global Hunger Index among South Asian Countries', 'sub_title' => '', 'summary' => 'October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. The Global Hunger Index 2022 released recently shows that Nepal ranks behind Sri Lanka in the list among South Asian Countries. It means that Nepal is one of the countries affected the least by hunger in South Asia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Overall, Nepal ranks 81st out of the 121 countries in the Global Hunger Index 2022 ranking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a score of 19.1, Nepal has a level of hunger that is “moderate”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Global Hunger Index (GHI) is a tool for comprehensively measuring and tracking hunger at global, regional, and national levels. GHI scores are based on the values of four component indicators - undernourishment, child stunting, child wasting and child mortality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Undernourishment is determined on the basis of the share of the population with insufficient caloric intake while child stunting is measured based on the share of children under age five who have low height for their age, reflecting chronic under-nutrition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, child wasting is determined by the share of children under age five who have low weight for their height, reflecting acute under-nutrition and child mortality is based on the share of children who die before their fifth birthday, partly reflecting the fatal mix of inadequate nutrition and unhealthy environments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Based on the values of the four indicators, a GHI score is calculated on a 100-point scale reflecting the severity of hunger, where 0 is the best possible score (no hunger) and 100 is the worst. Each country’s GHI score is classified by severity, from low to extremely alarming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In South Asia, neighbouring India ranked 107 in the Global Hunger Index 2022 with its child wasting rate at 19.3 per cent being the highest in the world, according to the Economic Times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The level of hunger in India with a score of 29.1 has been labelled "serious".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sri Lanka with a global ranking of 64 tops the list in South Asia followed by Nepal (81), Bangladesh (84), Pakistan (99), India (107), and Afghanistan (109).</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15897', 'image' => '20221016111519_GHI-2-1.jpeg', 'article_date' => '2022-10-16 11:14:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16155', 'article_category_id' => '1', 'title' => 'FNCCI and IFC Preparing Joint Report to Support Policymakers ', 'sub_title' => '', 'summary' => 'October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal and to record the contribution of this sector to the national economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report is expected to be an important document for policymakers. It will present statistics, concepts, analyses and policy recommendations in regard to the impact of the investment from the private sector to the nation's development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This collaboration between FNCCI and IFC has set the objective of providing the required information for policy debate among the government, the private sector, development partners and other stakeholders on issues related to the private sector development, the FNCCI said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There has been a qualitative growth of the private sector in Nepal since 1990. More than 99 percent formal businesses are under the ownership of the private sector. This includes the notable investment made in the social sectors such as education and health. The private sector has a growing presence in terms of capital formation and creating employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Further development and strengthening of the private sector is essential in order to achieve Nepal's developmental goals. This would be possible only through policy reforms and a debate between the public and private sectors," FNCCI president Shekhar Golchha said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC, as the largest development partner in the world, said it is committed to extend cooperation for the development of market and opportunities in Nepal. It is necessary to further improve the investment environment in the country for domestic and foreign investors, IFC resident representative for Nepal, Babacar S Faye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC is delivering on its ambitious target for Nepal by significantly increasing investments and advisory services. IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused on the private sector in emerging markets. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15896', 'image' => '20221016103627_1665825434.jpg', 'article_date' => '2022-10-16 10:35:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16154', 'article_category_id' => '1', 'title' => 'SEBON Authorized to Suspend Share Transactions of Merging Banks', 'sub_title' => '', 'summary' => 'October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The central bank amended the Regulation for Merger and Acquisition of Banks and Financial Institutions 2073 on Thursday to make arrangements for the suspension and release of share transactions to be done in accordance to the provisions made by the SEBON.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At present, the share transaction of banks and financial institutions gets suspended after signing an agreement for merger or acquisition and remains in force until the merging institutions start integrated transactions. The central bank has taken a flexible approach after increasing complaints that the suspension of share trading in the secondary market for a long time during merger or acquisition adversely affects the investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the monetary policy of the current fiscal year, NRB has mentioned that the existing provision of suspending share trading during merger or acquisition will be cancelled, and provision will be made as prescribed by SEBON. NRB has amended the regulation to implement the arrangements made by the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although NRB has given the right to decide on the suspension of share trading to SEBON, the board has yet to decide on this matter. In the draft of the guidelines for mergers and acquisitions of organized organizations published by the board in July, it has been proposed to suspend share transactions of BFIs opting for merger and acquisition for a maximum of 15 working days. Although the board said that the guidelines will be finalized based on the suggestions of the stakeholders, the guidelines have not been passed yet.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15895', 'image' => '20221014060023_Mergerrrrr.jpg', 'article_date' => '2022-10-14 17:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16152', 'article_category_id' => '1', 'title' => '901 Climbers Granted Permits for Winter Expedition', 'sub_title' => '', 'summary' => 'October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, the highest number of permits has been issued for Mt Manaslu (8,163 m). Altogether 404 mountaineers of 38 groups were granted permits to scale this mountain during the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the department informed that it has issued permits to five persons of a group to climb the highest mountain in the world, Mt Everest (Sagarmatha). A total of 131 permits were issued to 11 groups for climbing Mt Ama Dablam (6,814 m) while permits were also issued to 144 mountaineers of 14 groups for the expedition of Mt Himlung (7,167 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thirty-four mountaineers of four different groups have received permission to scale Dhaulagiri (8,167 m) while one group has been granted permission to climb Mt Nuptse (7,855 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the department has collected over Rs 70 million in royalties from permits issued for the winter expedition this year. A total of 901 mountaineers from 68 countries including Nepal are preparing to climb various mountains and peaks. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15893', 'image' => '20221014053642_mount-manaslu.jpg', 'article_date' => '2022-10-14 17:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16151', 'article_category_id' => '1', 'title' => 'Importers Demand Lifting Ban on Import of Four Items', 'sub_title' => '', 'summary' => 'October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association issued a statement saying the government has not been able to meet the revenue collection target after banning the import of goods that generate more revenue while the businessmen who have invested billions of rupees are also suffering huge losses. The statement issued by the association reads, “All the banned items except vehicles and motorcycles are being smuggled through illegal channels. Considering this fact, the association strongly demands that the ban on the import of the remaining four items be removed as soon as possible.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had imposed a ban on the import of 10 different items since May due to the pressure on foreign exchange reserves. Although the ban on import of six different items has already been lifted, the ban on the import of cars, jeeps, vans, mobile phones worth more than US$300, motorcycles of more than 150 cc capacity and ready-made alcohol still remains.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the association, the economic activities have decreased after the Nepal Rastra Bank adopted a policy of increasing interest rates to control inflation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement further mentions that inflation has increased not due to internal reasons of Nepal, but due to external factors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers drew the attention of the government that it has become very difficult to conduct business because of the increase in interest rates as per the directive of the NRB. The association opines that the Ministry of Finance and NRB should take appropriate steps to control this, reasoning that it is having a negative impact on traders, general public and government revenue. The association argued that there is high risk of the economy going into recession due to rising interest rates at a time when there is a decline in economic activities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The association stressed that the NRB should monitor the cooperatives, stating that the institutions involved in this sector are turning problematic one after another.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that micro, small and medium enterprises have been unable to take loans from microfinance companies in sufficient quantity due to the provision that microfinance companies cannot invest more than a certain limit, the association also urged the government to remove such limit.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15892', 'image' => '20221014042405_import.jpg', 'article_date' => '2022-10-14 16:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16150', 'article_category_id' => '1', 'title' => 'Lack of Skills Troubling Aspiring Migrant Workers', 'sub_title' => 'Most of the Nepali Youths Opt for Foreign Employment without Acquiring Proper Skills', 'summary' => 'October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company sent the 31-year-old Sherpa back to Nepal last month after he could not do the carpentry work properly. Now he has been making rounds of the Department of Foreign Employment and other agencies demanding compensation for the expenses incurred while going to Qatar.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Claiming that he had to return back because the manpower company did not clearly mention the job description before leaving for Qatar, Sherpa is demanding compensation of Rs 100,000 from the manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Before leaving abroad, the manpower company told me that the work was to load and unload wood in the furniture industry. However, after reaching Qatar, I learnt that the work was related to carpentry."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sherpa, who has no carpentry skills, returned home disappointed after the company told him that he was not qualified for the hob. Sherpa, who took loans before going abroad, said that he has to auction his house if the manpower company does not return his money.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, Krishna Khatri from Morang, Urlabari, had planned to earn good money and build a new house by going abroad for foreign employment. However, his foreign employment journey also ended within one month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Khatri, who was sent to Malaysia for a light driving job, said that he was made to drive a heavy vehicle there.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"If he had learned the necessary skills before heading for foreign employment, he would not have had to end up becoming jobless, and his investment wouldn't have gone down the drains," he told New Business Age. Now he is making claims to get back Rs 55,000 from the concerned manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent days, as the number of people going for jobs abroad is increasing, the risk of landing in foreign countries without skill has increased. This has increased the chances of investment being lost.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Many suffer losses eventually because they show little interest to acquire skills despite repeated requests from the government agencies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15891', 'image' => '20221014022359_foreign emp.jpg', 'article_date' => '2022-10-14 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16148', 'article_category_id' => '1', 'title' => 'No Initiative Taken to Remove Possible Ban on Nepalese Tea by India', 'sub_title' => '', 'summary' => 'October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India 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. Nepal has been exporting tea worth Rs 3.5 billion to India annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the National Tea and Coffee Development Board (NTCDB), 11,920 metric tons of tea valued at Rs 3.79 billion rupees was exported to 33 different countries of the world in the fiscal year 2020/21. Among this, 11,472 tons of tea worth Rs 3.38 billion was exported to India alone. If India decides to ban Nepal’s tea, the farmers and tea producers of Nepal will lose a big market. Tea is cultivated in an area of 17,000 hectares in Nepal by 24,000 farmers. There are 146 small and big industries related to tea. The farmers, industrialists and businessmen involved with the tea industry are now in panic after it has become almost certain that Nepalese farmers will lose 80 percent of the market if they are not able to export tea to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NTCDB, 80 percent of tea from Nepal, including CTC and orthodox tea, goes to the Indian market and 20 percent to other 32 countries including the US, China, and the UK.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of the Department of Customs shows that tea worth Rs 2.78 billion was exported in 2019/20, Rs 3.79 billion in 2020/21 and Rs 3.43 billion in 2021/22 to third countries as well as neighbouring India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Suresh Mittal, the central president of Nepal Tea Producers Association said that tea farmers and industrialists of Nepal are distressed after a motion to ban tea from Nepal was registered with the Parliamentary Committee on Commerce and Trade in the Parliament of India with the signatures of 40 MPs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the motion was registered two months ago, Mittal maintains that the threat is considerable as the Indian government or its subordinate bodies has not issued any official view regarding it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mittal informed that they submitted a memorandum to the Prime Minister, Finance Minister, Minister for Industry, Commerce and Supplies, Minister for Foreign Affairs and the Indian Embassy in Nepal to take initiatives to avoit a ban on Nepali tea before the Indian government takes any unpleasant decision. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Mittal, 'G2G' talks should be held to resolve the non-customs barriers imposed by the Indian side on Nepalese tea and other issues. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Udaya Chapagain, advisor to the Nepal Tea Planters Association, said that the tea exported from Nepal to India is being obstructed from time to time by various levels of the government and the tea board of India, making the traders suffers under various pretexts. He emphasized that the problems related to tea export should be resolved once and for all through discussions between the governments of both the countries. He said that the government of Nepal should also take initiatives to export indigenous tea to China. Foreign Minister Dr. Narayan Khadka raised the issue of exporting tea and herbs from Nepal during his latest visit to China.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15890', 'image' => '20221014010853_Tea.jpg', 'article_date' => '2022-10-14 13:08:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16147', 'article_category_id' => '1', 'title' => 'Nepal to Prioritize Climate Adaptation and Financing during COP27 ', 'sub_title' => '', 'summary' => 'October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC on November 7-18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC slated for November 7-18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the session, Nepal being one of the countries highly vulnerable to the impact of climate change due to its sensitive geography, will raise issues concerning the impact of climate change on the mountain region with much priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate change adaptation, damages and losses, and climate finance are among issues Nepal will be raising with priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Study shows that Nepal’s highland has witnessed the temperature rise by 1.8 degree Celsius when global warming is measured at 1 degree Celsius, the major consequence of greenhouse gas effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of climate change on the entire mountainous economy and the ecosystem there, and in the low-lying areas will be the issues of priority of Nepal in the conference scheduled to be held at Sharm el-Sheikh, South Sinai, Egypt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was originally scheduled to take place from November 8-20 in 2021, but it was rescheduled owing to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will participate in the session with its special priorities on issues such as climate change adaptation and reduction, climate finance, specific issues of mountain region and financing for climate losses and damages, according to the Ministry of Forest and Environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Climate Change Management Division of the Ministry, Dr Buddhisagar Poudel, informed that Nepal is preparing to put forth the issues regarding global goals related to climate adaptation in COP27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal believes that the developed countries should ensure climate grants and finance to countries like Nepal as per their expectations. In addition to this, Nepal will be demanding additional compensation for the losses and damages caused by climate-induced disasters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During COP26, Nepal made a pledge to achieve 'net zero' carbon emissions by 2045. ‘Net zero emissions’ refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere, according to the Climate Council. </span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Climate Change and Environment Advisor to the Prime Minister, Dr Madhav Bahadur Karki, said issues including assistances for financial cooperation, efficiency enhancement and technology development will be raised in the conference. Similarly, the management and transparency of the commitments done by developed countries to provide 100 million dollar to developing countries to fight the impacts of climate change by 2023 will also be put up. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal along with various countries in the world has submitted its NDCs report. NDCs represent efforts by each country to reduce national emission and adapt to the impacts of climate change. The conference will prioritise required resources for the implementation of the report. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15889', 'image' => '20221014115048_iuydf2022060504340420220605044309.jpg', 'article_date' => '2022-10-14 11:49:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: Nepal's urban population has reached 66.08 percent. As per the preliminary data of the National Census, 2078, the size of urban population has increased in comparison to the earlier Census held ten years ago, shared Joint-Secretary at the Ministry of Urban Development Ram Chandra Dangal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The urban population was 63.19 percent and rural population 36.81 percent during the National Census of 2068 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the World Cities Report, 2022 published by UN Habitat this month, the urbanization process was found rapidly increasing in developed countries. Almost 79 percent population reside in urban areas in such countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">If the same growth continues, the urban population is projected to reach 87 percent in advanced countries. The report has also projected the population growth rate of 0.46 percent in developed countries from 2020 to 2025. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report was made public on the occasion of the World Habitat Day which is marked on the first Monday of October at the call of the UN Habitat. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In 2022, World Habitat Day (WHD 2022) under the theme "Mind the Gap. Leave No One and Place Behind" looks at the problem of growing inequality and challenges in cities and human settlements. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The World Habitat Day 2022 seeks to draw the attention towards the growing inequalities and vulnerabilities that have been exacerbated by the triple ‘C’ crises — COVID-19, climate and conflict. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The United Nations (UN) had started observing the day on the first Monday of October since 1986. Nepal has also started marking the day since 2001. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This year, Nepal is observing the World Habitat Day on October 17 by organizing several programmes with the theme 'Necessity of inclusive urban settlement: shared commitment of all". </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As the eighth day of Dashain festival coincided with the first Monday of October, the ministry decided to mark the day on third Monday of October, the ministry sources said. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15904', 'image' => '20221017125636_Kathmandu land.jpg', 'article_date' => '2022-10-17 12:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '16162', 'article_category_id' => '1', 'title' => 'CAAN Bans Paragliding Across the Country ', 'sub_title' => '', 'summary' => 'October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 17: The Civil Aviation Authority of Nepal (CAAN) has banned paragliding across the country until the service is further streamlined and more safety is ensured. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN said that the ban has been imposed in the wake of growing cases of paragliding accidents in the country. </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"">CAAN Deputy Director General and Spokesperson Jagannath Niraula told the the state-owned national news agency RSS on Sunday that paragliding has been suspended until another provision is put in place to further strengthening its security system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN decided to ban paragliding flights for the time being so as to manage policies, rules and laws relating to paragliding flight. The aviation governing body would permit the flights after clear laws are devised, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sportsperson Nisim Thapa, 26, died in a paragliding crash at Sarangkot, Pokhara on Sunday. He was competing in the cross-country event of paragliding during the 9th National Games underway in Pokhara when the craft owned by Blue Sky Company suddenly fell off some 700 metre from the sky to the ground.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thapa sustained injuries and later succumbed to death.</span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2022-10-17', 'modified' => '2022-10-17', 'keywords' => '', 'description' => '', 'sortorder' => '15903', 'image' => '20221017115935_Paragliding-in-Pokhara-Nepal.jpg', 'article_date' => '2022-10-17 11:57:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '16161', 'article_category_id' => '1', 'title' => 'Business of Decorative Lights Expected to Shrink by 50 Percent during Tihar', 'sub_title' => '', 'summary' => 'October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: During this year’s Tihar, which is also known as the festival of lights, the business of decorative lights is speculated to decline by 50 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Federation of Electrical Entrepreneurs of Nepal, the business of decorative lights may slump due to the strict policy adopted by the government for the import of such items and the impact of global recession.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the federation, every year during the Tihar and Chhath festivals, the business of decorative lights amounts to almost Rs 40 million. However, this year, this amount may drop to Rs 20 million.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">During Tihar and Chhath, the business of other kinds of lights also increases by 10 to 15 percent compared to normal times.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Entrepreneurs say that the trend of changing old and worn out lights and moving to new houses also increase during this festival, so the business also increases during this time. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation complains that, traders are not able to import goods after Nepal Rastra Bank imposed a 100 percent cash margin to open LC for the import of electronic goods. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudarshan Paudel, president of the federation, said that even small quantities of ordered goods could not enter Nepal due to the closure of both the northern border ckeckpoints (Tatopani and Rasuwagadhi).</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the data of the Department of Customs, in the first two months of the current fiscal year, electrical equipment worth Rs 49.50 million entered Nepal, but the amount of bulbs and lights intended for the festivals is yet to be ascertained.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> In Nepal, 55 percent of decorative lights are imported from China and 15 percent from India. As soon as the festival of Dashain is over, people light up their homes, offices, commercial complexes and other places with different colored lights. So, the demand for such lights is high during Tihar.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federation added that the price of such items also increased this year due to the increase in the value of the US dollar. Recently, the price of the dollar has been on a continuous rise and reached around Rs 132, making the price of electronic materials increase by 20 percent. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">“On the one hand, due to fluctuations in the economy, the purchasing power of consumers has decreased, while on the other hand, the price of goods in the market has increased. Due to this, the presence of consumers in the market during Tihar this year is not encouraging. Therefore, the demand for such items seems to decrease automatically,” Paudel said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15902', 'image' => '20221016045321_1665898139.jpg', 'article_date' => '2022-10-16 16:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '16160', 'article_category_id' => '1', 'title' => 'Government Fixes Rs 20 Million as Minimum Requirement for FDI', 'sub_title' => '', 'summary' => 'October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: The government has started implementing the minimum limit of Rs 20 million for foreign direct investment (FDI). The government had made such arrangement in the budget for the current fiscal year. The government has reduced the minimum limit required for foreign investment with the objective of increasing investment in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A recent meeting of the Council of Ministers decided to fix the minimum requirement of FDI per foreigner at Rs 20 million in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the minimum limit for foreign investment was Rs 50 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the government had raised the minimum limit for foreign investment from Rs 5 million to Rs 50 million in the budget three years ago in accordance with sub-section 3 of section 3 of the Foreign Investment and Technology Transfer Act 2075 BS. Now the minimum limit has been set at Rs 20 million, as per the budget announcement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Finance had presented the proposal to fix the new limit in accordance with the budget announcement to the Council of Ministers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Government Spokesperson Gyanendra Bahadur Karki informed that the minimum limit of FDI has been fixed as per the announcement made in the budget. However, the government has not fixed the ceiling for the maximum FDI in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to foreign investment experts, although the reduction of the minimum limit is positive, it is not possible to attract large investments immediately. It is expected to boost small and medium scale industries. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the government has been reducing the minimum limit required for FDI time and again, it has failed to attract foreign investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Anjan Neupane, an expert on foreign investment, there is a possibility of additional investment in the IT, tourism, and service sector following the government’s decision to lower the minimum limit. He says the threshold is still too high.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, it is not yet easy to attract investment in Nepal. Foreign investors have to face the obstacles on every step that starts after pouring their investment.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The Department of Industry has a one-door system. NRB has two employees. That’s all. The old problems are still there,” said Neupane.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Neupane, no procedural reforms have been made in the bodies that deal with foreign investors such as the Department of Industry, the Office of the Registrar of Companies, and the Immigration Department.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Investors are well aware that the obstacles in investment approval, company registration, visa permission, business establishment, and operation have not been solved yet. According to Neupane, more than two dozen agencies, including half a dozen ministries, are still needed to take the project to the construction stage. The one-door system is just for the sake of name.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As of mid-September this year, Nepal received investment commitment of Rs 419 billion from 55 countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15901', 'image' => '20221016045201_20220624051313_Foreign investment.jpg', 'article_date' => '2022-10-16 16:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '16159', 'article_category_id' => '1', 'title' => 'India Delays Shifting Dusty Cargo to ICP', 'sub_title' => '', 'summary' => 'October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: India has decided not to implement its decision to divert the dusty cargo entering Nepal through the friendship bridge between Raxaul and Birgunj to the Integrated Checkpoint (ICP) for the time being. The latest notification has given some relief to the importers who were worried after the Indian customs issued a notification that all imports and exports passing through this point will be transferred to ICP from this Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Northern Department of the Ministry of External Affairs of India issued a notice on Friday informing that the decision to completely stop the import and export of dusty cargo through the old border point has been postponed for the time being. The department said that the previous decision will not be implemented until January 1. However, importers are still confused about what will happen after January 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India said that the decision to shift the checkpoint for the import and export of dusty cargo by one and a half months was taken upon the request of the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The Government of Nepal had made such request through the Indian Embassy in Kathmandu.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Vice President of Birgunj Chamber of Industry and Commerce, Madhav Rajpal said that the importers of Birgunj had requested the government to take initiative saying that the necessary infrastructure has not been prepared to move the entire dusty cargo to the ICP.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> Earlier, India's Raxaul Customs had issued a notice stating that the import and export of dusty cargo will take place from the ICP from July 1. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajpal said that the main problem is the narrow road connecting the Raxaul Railway and the ICP. He argued that because the road is narrow, it is not possible to transport 300 to 400 trucks a day.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has also mentioned in its notification that the decision has been postponed for the time being as the infrastructure is not ready.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that the ICP has been fully operational, the Indian side has been pressing to shift all the import and export of the Birgunj-Raxaul border to the ICP. Even after four years of operating the ICP, dusty cargo like coal, iron ore, slag and some quantity of industrial raw materials including iron billet, and iron roll are still entering through the old Raxaul-Birgunj route. Salt and fertilizer are also unloaded in Raxaul and imported into Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Due to the lack of a suitable place for dusty cargo management on the Nepal side, there is no other alternative to the Raxaul-Birgunj route. Previously, the supply of dusty cargo was disrupted due to protests by the local residents of Raxaul.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Loading and unloading of clinker was stopped there five years ago due to the obstruction of the locals of Raxaul. At that time, a team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, suggested that such cargo could be managed at three locations in Birgunj.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Since then, Indian customs has repeatedly given ultimatums to remove the dusty cargo from there but to no avail.</span></span></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> <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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong> </strong></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> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15900', 'image' => '20221016040138_1665863484.Clipboard01.jpg', 'article_date' => '2022-10-16 16:00:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '16158', 'article_category_id' => '1', 'title' => 'Import Ban to Remain in Force till mid-December', 'sub_title' => '', 'summary' => 'October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 16: The government has decided to enfore the ban on the import of cars, jeeps, vans, readymade liquor and motorcycles of more than 150 cc capacity and smart phones worth more than US$300 until mid-December.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ban imposed on the import of these items on April 26 was to expire last Friday. However, the Ministry of Industry, Commerce and Supplies published a notice on the Nepal Gazette on Friday extending the ban period. As the foreign exchange reserves were under pressure, the ministry had initially published a notice on the Nepal Gazette on April 26 and banned the import of 10 luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the 10 items, the ban on food items like crisps along with color televisions larger than 32 inches, playing cards, diamonds other than raw materials, cigarettes and tobacco products and all kinds of toys was removed on August 29.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The ministry, however, extended the ban on import of four items using the powers given by Sub-section 1 of Section 3 of the Export Import (Control) Act, 2013. According to the ministry, the purpose of the ban is to protect the country's external financial sector and balance of payments by preventing deficits of the foreign currency or by increasing the extremely low foreign currency reserves.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had been tightening imports since last winter. Initially, Nepal Rastra Bank set a limit on import quota of silver. Last December, the central bank had made arrangements requiring 50 and 100 percent cash margin for opening LC for the import of luxury goods.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The chief executive officers of commercial banks were verbally instructed by NRB to avoid opening LCs for the import of vehicles for private use. Eventually, as a last resort, a formal ban was imposed on the import of luxury items on April 26.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers have been claiming that despite the ban imposed by the government, the import of other goods except two-wheelers and four-wheelers never stopped.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madan Mittal, former secretary general of Nepal Foreign Trade Association, says that the ban on the import of goods other than vehicles and large machinery tools has only give an opportunity to the smugglers to bring such goods into the country through illegal channels.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15899', 'image' => '20221016024624_20220717124909_nada.jpg', 'article_date' => '2022-10-16 14:45:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '16157', 'article_category_id' => '1', 'title' => 'Monsoon Starts Exiting Nepal from Saturday ', 'sub_title' => '', 'summary' => 'October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: This year's monsoon has gradually started exiting Nepal from Saturday, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin regarding the departure of monsoon, the division said that monsoon has exited from all provinces except Province 1. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The monsoon that entered Nepal from the eastern belt of the country on June 5 this year exited Sudurpaschim Province, Karnali Province, Lumbini Province, Gandaki Province and Madhesh Province," read the special monsoon bulletin. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It would take few more days for the monsoon to exit from the remaining parts of the country, the division said. Generally monsoon exits Nepal by October 2 but this year it was extended by few more days. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15898', 'image' => '20221016010123_HemantKC_Jajarkot_RSS_09.jpg', 'article_date' => '2022-10-16 13:00:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '16156', 'article_category_id' => '1', 'title' => 'Nepal Ranks Second in Global Hunger Index among South Asian Countries', 'sub_title' => '', 'summary' => 'October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">October 16: Nepal has ranked second in South Asia in the Global Hunger Index 2022. The Global Hunger Index 2022 released recently shows that Nepal ranks behind Sri Lanka in the list among South Asian Countries. It means that Nepal is one of the countries affected the least by hunger in South Asia.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Overall, Nepal ranks 81st out of the 121 countries in the Global Hunger Index 2022 ranking.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With a score of 19.1, Nepal has a level of hunger that is “moderate”.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Global Hunger Index (GHI) is a tool for comprehensively measuring and tracking hunger at global, regional, and national levels. GHI scores are based on the values of four component indicators - undernourishment, child stunting, child wasting and child mortality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Undernourishment is determined on the basis of the share of the population with insufficient caloric intake while child stunting is measured based on the share of children under age five who have low height for their age, reflecting chronic under-nutrition.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, child wasting is determined by the share of children under age five who have low weight for their height, reflecting acute under-nutrition and child mortality is based on the share of children who die before their fifth birthday, partly reflecting the fatal mix of inadequate nutrition and unhealthy environments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Based on the values of the four indicators, a GHI score is calculated on a 100-point scale reflecting the severity of hunger, where 0 is the best possible score (no hunger) and 100 is the worst. Each country’s GHI score is classified by severity, from low to extremely alarming.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In South Asia, neighbouring India ranked 107 in the Global Hunger Index 2022 with its child wasting rate at 19.3 per cent being the highest in the world, according to the Economic Times. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The level of hunger in India with a score of 29.1 has been labelled "serious".</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sri Lanka with a global ranking of 64 tops the list in South Asia followed by Nepal (81), Bangladesh (84), Pakistan (99), India (107), and Afghanistan (109).</span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15897', 'image' => '20221016111519_GHI-2-1.jpeg', 'article_date' => '2022-10-16 11:14:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '16155', 'article_category_id' => '1', 'title' => 'FNCCI and IFC Preparing Joint Report to Support Policymakers ', 'sub_title' => '', 'summary' => 'October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 16: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the International Finance Corporation (IFC) are joining hands to preparing a report in order to assess the status of the private sector in Nepal and to record the contribution of this sector to the national economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The report is expected to be an important document for policymakers. It will present statistics, concepts, analyses and policy recommendations in regard to the impact of the investment from the private sector to the nation's development. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">This collaboration between FNCCI and IFC has set the objective of providing the required information for policy debate among the government, the private sector, development partners and other stakeholders on issues related to the private sector development, the FNCCI said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There has been a qualitative growth of the private sector in Nepal since 1990. More than 99 percent formal businesses are under the ownership of the private sector. This includes the notable investment made in the social sectors such as education and health. The private sector has a growing presence in terms of capital formation and creating employment opportunities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Further development and strengthening of the private sector is essential in order to achieve Nepal's developmental goals. This would be possible only through policy reforms and a debate between the public and private sectors," FNCCI president Shekhar Golchha said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC, as the largest development partner in the world, said it is committed to extend cooperation for the development of market and opportunities in Nepal. It is necessary to further improve the investment environment in the country for domestic and foreign investors, IFC resident representative for Nepal, Babacar S Faye said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">IFC is delivering on its ambitious target for Nepal by significantly increasing investments and advisory services. IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused on the private sector in emerging markets. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-16', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15896', 'image' => '20221016103627_1665825434.jpg', 'article_date' => '2022-10-16 10:35:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '16154', 'article_category_id' => '1', 'title' => 'SEBON Authorized to Suspend Share Transactions of Merging Banks', 'sub_title' => '', 'summary' => 'October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Rastra Bank (NRB) has authorized the Securities Board of Nepal (SEBON) to decide on the suspension of share trading of banks and financial institutions opting for merger and acquisition.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The central bank amended the Regulation for Merger and Acquisition of Banks and Financial Institutions 2073 on Thursday to make arrangements for the suspension and release of share transactions to be done in accordance to the provisions made by the SEBON.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">At present, the share transaction of banks and financial institutions gets suspended after signing an agreement for merger or acquisition and remains in force until the merging institutions start integrated transactions. The central bank has taken a flexible approach after increasing complaints that the suspension of share trading in the secondary market for a long time during merger or acquisition adversely affects the investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the monetary policy of the current fiscal year, NRB has mentioned that the existing provision of suspending share trading during merger or acquisition will be cancelled, and provision will be made as prescribed by SEBON. NRB has amended the regulation to implement the arrangements made by the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Although NRB has given the right to decide on the suspension of share trading to SEBON, the board has yet to decide on this matter. In the draft of the guidelines for mergers and acquisitions of organized organizations published by the board in July, it has been proposed to suspend share transactions of BFIs opting for merger and acquisition for a maximum of 15 working days. Although the board said that the guidelines will be finalized based on the suggestions of the stakeholders, the guidelines have not been passed yet.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-16', 'keywords' => '', 'description' => '', 'sortorder' => '15895', 'image' => '20221014060023_Mergerrrrr.jpg', 'article_date' => '2022-10-14 17:59:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '16152', 'article_category_id' => '1', 'title' => '901 Climbers Granted Permits for Winter Expedition', 'sub_title' => '', 'summary' => 'October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: The government has granted permits to 901 mountaineers of 108 groups to climb 35 different mountain peaks for the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Tourism, the highest number of permits has been issued for Mt Manaslu (8,163 m). Altogether 404 mountaineers of 38 groups were granted permits to scale this mountain during the winter expedition. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the department informed that it has issued permits to five persons of a group to climb the highest mountain in the world, Mt Everest (Sagarmatha). A total of 131 permits were issued to 11 groups for climbing Mt Ama Dablam (6,814 m) while permits were also issued to 144 mountaineers of 14 groups for the expedition of Mt Himlung (7,167 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thirty-four mountaineers of four different groups have received permission to scale Dhaulagiri (8,167 m) while one group has been granted permission to climb Mt Nuptse (7,855 m). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, the department has collected over Rs 70 million in royalties from permits issued for the winter expedition this year. A total of 901 mountaineers from 68 countries including Nepal are preparing to climb various mountains and peaks. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15893', 'image' => '20221014053642_mount-manaslu.jpg', 'article_date' => '2022-10-14 17:36:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '16151', 'article_category_id' => '1', 'title' => 'Importers Demand Lifting Ban on Import of Four Items', 'sub_title' => '', 'summary' => 'October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">October 14: Nepal Foreign Trade Association, the umbrella body of import businessmen, had demanded the government to lift the ban imposed on the import of four different items including vehicles such as cars, jeeps, vans; mobiles phones worth more than US$300; motorcycles of more than 150 cc capacity; and ready-made liquor.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association issued a statement saying the government has not been able to meet the revenue collection target after banning the import of goods that generate more revenue while the businessmen who have invested billions of rupees are also suffering huge losses. The statement issued by the association reads, “All the banned items except vehicles and motorcycles are being smuggled through illegal channels. Considering this fact, the association strongly demands that the ban on the import of the remaining four items be removed as soon as possible.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government had imposed a ban on the import of 10 different items since May due to the pressure on foreign exchange reserves. Although the ban on import of six different items has already been lifted, the ban on the import of cars, jeeps, vans, mobile phones worth more than US$300, motorcycles of more than 150 cc capacity and ready-made alcohol still remains.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the association, the economic activities have decreased after the Nepal Rastra Bank adopted a policy of increasing interest rates to control inflation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The statement further mentions that inflation has increased not due to internal reasons of Nepal, but due to external factors. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The importers drew the attention of the government that it has become very difficult to conduct business because of the increase in interest rates as per the directive of the NRB. The association opines that the Ministry of Finance and NRB should take appropriate steps to control this, reasoning that it is having a negative impact on traders, general public and government revenue. The association argued that there is high risk of the economy going into recession due to rising interest rates at a time when there is a decline in economic activities.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> The association stressed that the NRB should monitor the cooperatives, stating that the institutions involved in this sector are turning problematic one after another.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Stating that micro, small and medium enterprises have been unable to take loans from microfinance companies in sufficient quantity due to the provision that microfinance companies cannot invest more than a certain limit, the association also urged the government to remove such limit.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15892', 'image' => '20221014042405_import.jpg', 'article_date' => '2022-10-14 16:23:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '16150', 'article_category_id' => '1', 'title' => 'Lack of Skills Troubling Aspiring Migrant Workers', 'sub_title' => 'Most of the Nepali Youths Opt for Foreign Employment without Acquiring Proper Skills', 'summary' => 'October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: Phurba Sherpa of Solukhumbu, Ramse, who was recruited by Qatar-based company Haliullah for carpentry work, returned home within one week because he lacked the required skills.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The company sent the 31-year-old Sherpa back to Nepal last month after he could not do the carpentry work properly. Now he has been making rounds of the Department of Foreign Employment and other agencies demanding compensation for the expenses incurred while going to Qatar.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Claiming that he had to return back because the manpower company did not clearly mention the job description before leaving for Qatar, Sherpa is demanding compensation of Rs 100,000 from the manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"Before leaving abroad, the manpower company told me that the work was to load and unload wood in the furniture industry. However, after reaching Qatar, I learnt that the work was related to carpentry."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Sherpa, who has no carpentry skills, returned home disappointed after the company told him that he was not qualified for the hob. Sherpa, who took loans before going abroad, said that he has to auction his house if the manpower company does not return his money.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Similarly, Krishna Khatri from Morang, Urlabari, had planned to earn good money and build a new house by going abroad for foreign employment. However, his foreign employment journey also ended within one month.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Khatri, who was sent to Malaysia for a light driving job, said that he was made to drive a heavy vehicle there.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">"If he had learned the necessary skills before heading for foreign employment, he would not have had to end up becoming jobless, and his investment wouldn't have gone down the drains," he told New Business Age. Now he is making claims to get back Rs 55,000 from the concerned manpower company.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">In recent days, as the number of people going for jobs abroad is increasing, the risk of landing in foreign countries without skill has increased. This has increased the chances of investment being lost.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Many suffer losses eventually because they show little interest to acquire skills despite repeated requests from the government agencies.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15891', 'image' => '20221014022359_foreign emp.jpg', 'article_date' => '2022-10-14 14:23:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '16148', 'article_category_id' => '1', 'title' => 'No Initiative Taken to Remove Possible Ban on Nepalese Tea by India', 'sub_title' => '', 'summary' => 'October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India alleging that the tea produced in Nepal has discredited the Darjeeling tea in the world market.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">October 14: A motion with 11 serious allegations against Nepal’s tea industry has been registered in the Provincial Assembly of West Bengal, India 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. Nepal has been exporting tea worth Rs 3.5 billion to India annually.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to the National Tea and Coffee Development Board (NTCDB), 11,920 metric tons of tea valued at Rs 3.79 billion rupees was exported to 33 different countries of the world in the fiscal year 2020/21. Among this, 11,472 tons of tea worth Rs 3.38 billion was exported to India alone. If India decides to ban Nepal’s tea, the farmers and tea producers of Nepal will lose a big market. Tea is cultivated in an area of 17,000 hectares in Nepal by 24,000 farmers. There are 146 small and big industries related to tea. The farmers, industrialists and businessmen involved with the tea industry are now in panic after it has become almost certain that Nepalese farmers will lose 80 percent of the market if they are not able to export tea to India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to NTCDB, 80 percent of tea from Nepal, including CTC and orthodox tea, goes to the Indian market and 20 percent to other 32 countries including the US, China, and the UK.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The data of the Department of Customs shows that tea worth Rs 2.78 billion was exported in 2019/20, Rs 3.79 billion in 2020/21 and Rs 3.43 billion in 2021/22 to third countries as well as neighbouring India.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Suresh Mittal, the central president of Nepal Tea Producers Association said that tea farmers and industrialists of Nepal are distressed after a motion to ban tea from Nepal was registered with the Parliamentary Committee on Commerce and Trade in the Parliament of India with the signatures of 40 MPs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Although the motion was registered two months ago, Mittal maintains that the threat is considerable as the Indian government or its subordinate bodies has not issued any official view regarding it.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mittal informed that they submitted a memorandum to the Prime Minister, Finance Minister, Minister for Industry, Commerce and Supplies, Minister for Foreign Affairs and the Indian Embassy in Nepal to take initiatives to avoit a ban on Nepali tea before the Indian government takes any unpleasant decision. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Mittal, 'G2G' talks should be held to resolve the non-customs barriers imposed by the Indian side on Nepalese tea and other issues. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Udaya Chapagain, advisor to the Nepal Tea Planters Association, said that the tea exported from Nepal to India is being obstructed from time to time by various levels of the government and the tea board of India, making the traders suffers under various pretexts. He emphasized that the problems related to tea export should be resolved once and for all through discussions between the governments of both the countries. He said that the government of Nepal should also take initiatives to export indigenous tea to China. Foreign Minister Dr. Narayan Khadka raised the issue of exporting tea and herbs from Nepal during his latest visit to China.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15890', 'image' => '20221014010853_Tea.jpg', 'article_date' => '2022-10-14 13:08:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '16147', 'article_category_id' => '1', 'title' => 'Nepal to Prioritize Climate Adaptation and Financing during COP27 ', 'sub_title' => '', 'summary' => 'October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC on November 7-18. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 14: Nepal is preparing to attend the 27th session of the Conference of the Parties (COP27) to the UNFCCC slated for November 7-18. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the session, Nepal being one of the countries highly vulnerable to the impact of climate change due to its sensitive geography, will raise issues concerning the impact of climate change on the mountain region with much priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Climate change adaptation, damages and losses, and climate finance are among issues Nepal will be raising with priority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Study shows that Nepal’s highland has witnessed the temperature rise by 1.8 degree Celsius when global warming is measured at 1 degree Celsius, the major consequence of greenhouse gas effect. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The impact of climate change on the entire mountainous economy and the ecosystem there, and in the low-lying areas will be the issues of priority of Nepal in the conference scheduled to be held at Sharm el-Sheikh, South Sinai, Egypt. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The event was originally scheduled to take place from November 8-20 in 2021, but it was rescheduled owing to the COVID-19 pandemic. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal will participate in the session with its special priorities on issues such as climate change adaptation and reduction, climate finance, specific issues of mountain region and financing for climate losses and damages, according to the Ministry of Forest and Environment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the Climate Change Management Division of the Ministry, Dr Buddhisagar Poudel, informed that Nepal is preparing to put forth the issues regarding global goals related to climate adaptation in COP27. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal believes that the developed countries should ensure climate grants and finance to countries like Nepal as per their expectations. In addition to this, Nepal will be demanding additional compensation for the losses and damages caused by climate-induced disasters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During COP26, Nepal made a pledge to achieve 'net zero' carbon emissions by 2045. ‘Net zero emissions’ refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere, according to the Climate Council. </span></span></span><br /> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Climate Change and Environment Advisor to the Prime Minister, Dr Madhav Bahadur Karki, said issues including assistances for financial cooperation, efficiency enhancement and technology development will be raised in the conference. Similarly, the management and transparency of the commitments done by developed countries to provide 100 million dollar to developing countries to fight the impacts of climate change by 2023 will also be put up. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal along with various countries in the world has submitted its NDCs report. NDCs represent efforts by each country to reduce national emission and adapt to the impacts of climate change. The conference will prioritise required resources for the implementation of the report. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-10-14', 'modified' => '2022-10-14', 'keywords' => '', 'description' => '', 'sortorder' => '15889', 'image' => '20221014115048_iuydf2022060504340420220605044309.jpg', 'article_date' => '2022-10-14 11:49:58', '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
