August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount…
August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount…
August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar…
August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu…
August 19: The interest rate of loans issued by commercial banks has reached close to 12…
August 19: The homework of loading and unloading dusty cargo in Nepal has already started.…
August 19: Britain has temporarily banned the use of water from the Thames…
August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from…
August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with…
August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower…
August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and…
August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers.…
August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra…
August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on…
August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous…
August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous…
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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"">August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha expressed his commitment to felicitate the record-keeping climbers with cash prize in recognition of their contribution to keep the country's image high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized at Nepal Tourism Board in the honour of record-keeping mountaineers today, Minister Shrestha pledged to felicitate the climbers in recognition of their contributions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The records of the climbers have enhanced the image of the country. The government would provide such people with cash prize," Minister Shrestha said, adding he would take ahead the process to honour the climbers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Nepal's record-keeping climber Sanu Sherpa had successfully scaled all 14 peaks of the world above 8,000 meters twice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, parliamentarian from Nepali Congress (NC) Jeep Tzering Lama urged the state agencies to pay attention on social security aspects of climbers who have worked hard to keep the country's glory and prestige intact. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal Mountaineering Association Chairperson Nimaguru Sherpa said record-keeping in mountaineering has helped Nepal establish its image across the globe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another record-keeping climber Neema Gyaljen Sherpa said environment should be created for climbers to live a life with dignity and prestige. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tourism Minster Shrestha has announced to provide his one-month salary to record-keeping climber Sanu Sherpa. Likewise, lawmaker Lama announced to provide mountaineer duo, Sanu and Nima, with a cash prize of Rs 100,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mountaineer Neema has set a record after climbing all 14 peaks above 8,000 meters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the association honoured both the record-setting climbers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'mountaineering,, record, climbing, government, Everest', 'description' => '', 'sortorder' => '15572', 'image' => '20220821101202_maxresdefault.jpg', 'article_date' => '2022-08-21 10:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15830', 'article_category_id' => '1', 'title' => 'EC Directs Governments not to Implement New Programmes', 'sub_title' => '', 'summary' => 'August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature as well as any new programme that had not been included in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The election commission issued the directive to all three tiers of the government not to execute such programme since the implementation of new programme that were not included in the budget would influence voters and affect election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EC Spokesperson Shaligram Sharma Poudel shared that the commission has directed the governments not to operate and implement any new programme and project apart from disaster risk reduction related activities, humanitarian support and necessary actions required for preventing health related pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'election, commission, plan, programme, new, budget, influence', 'description' => '', 'sortorder' => '15571', 'image' => '20220821100552_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-08-21 10:04:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15829', 'article_category_id' => '1', 'title' => 'Paragliding in Phulchoki from October ', 'sub_title' => '', 'summary' => 'August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. </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"">Currently, the Civil Aviation Authority of Nepal is working on the technical aspects of paragliding from Phulchoki towards Panauti, which falls outside the valley. </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"">Chabilal Humagain, chairperson of Phulchoki Adventure Pvt Ltd, told the state-owned RSS that preparations will be made for commercial flights after the release of operational instructions from the CAAN. </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"">Adventure sports in Nepal is likely to get a boost with the approval from the Tourism Ministry to carry out paragliding flights from Phulchowki to Kushadevi area of Panauti. </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"">A test flight of paragliding was conducted from Gurdumdanda three years ago during a tourism festival, according to RSS. On the occasion, 15 paragliders had conducted test flight for three days. The place for take-off, landing, air pressure, and other conditions were reported to be favorable for paragliding in the area. </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"">Humagain said that since it will take a month to complete all the procedures of paragliding operations, plans are afoot to start commercial flights from coming October. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 10 paragliding companies have been allowed to fly daily from 10 am to 4 pm. Paragliders will take off from Gurdumdanda and land at Bancharetar in Kushadevi. The road distance from Gurdumdanda to Bancharetar is four kilometers. The take-off point is 2,350 meters above sea level while the landing point is 1,300 meters above sea level. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'paragliding, Phulchowki, Panauti, Kathmandu, Kushadevi, CAAN', 'description' => '', 'sortorder' => '15570', 'image' => '20220821100035_para.jpg', 'article_date' => '2022-08-21 09:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15826', 'article_category_id' => '1', 'title' => 'Interest on Loan Climbs to Almost 12 Percent', 'sub_title' => '', 'summary' => 'August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent. The interest on loans has increased after the banks increased interest on deposits due to liquidity crisis. As per Nepal Rastra Bank, the average interest rate on loans issued by commercial banks has reached 11.62 percent in mid-July 2022. The average interest on loans which was 8.43 percent in mid-July last year increased by 3.19 percentage points in just a year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">With lack of liquidity, banks increased the interest rate on savings to attract deposits, resulting in an increment of interest on loans as well. The average interest rate on deposit was 4.65 percent in mid-July 2021 which climbed to 7.41 percent in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After increasing the interest on savings, the base rate of banks also increased. The average base rate of commercial banks was 6.86 percent till mid-July last year. By the mid-July this year, it climbed to 9.54 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest rate on loans by adding a certain percentage premium to the base rate. Due to this, when the base rate increases, the interest rate of bank loans also increases. Banks are allowed to adjust the interest rate based on the quarterly base rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB intervened after there was an unhealthy competition between banks and financial institutions to attract deposits by raising interest rates amid to lack of liquidity. Last October, when the interest rate offered by commercial banks on deposits reached 12 percent, NRB gave a verbal instruction to keep the interest rate within single digit. By issuing a written instruction on October 20, NRB introduced a provision allowing banks to change the interest rate every month by 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to that, the bankers were maintaining a stable interest rate as per the gentleman’s agreement among themselves. Nepal Bankers Association, the umbrella body of chief executive officers (CEOs) of commercial banks, Development Bankers Association, the organization of CEOs of development banks, and Nepal Finance Company Association, the organization of CEOs of finance companies, increased the interest rate by 10 percent in February even though they did not increase the interest rate in December and January. Interest rate has remained same since February because there was no increase in deposits despite the increase in interest rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Prasad Pokharel, deputy spokesperson of NRB says that the interest rate is regulated due to the policy adopted by NRB and the discipline of banks and financial institutions. “If the competition to increase the interest rate of the banks had continued, the interest on loans would have reached 18 percent by now,” said Pokharel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the NRB allowed the banks to increase the interest rate by changing the policy rate on July 3 through the revision of the Unified Directive 2078, the banks had already decided not to increase the interest rate in August as well. Anil Kumar Upadhyay, president of Nepal Bankers Association, said that since there is no possibility of increasing the deposit rate, it was decided not to increase the interest rate immediately.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since February, banks are implementing the agreement to provide a maximum interest rate of 11.03 percent on personal deposits and 10.03 percent on institutional deposits. Similarly, the average interest rate of interbank transactions between commercial banks increased from 4.12 to 6.99 percent during the same period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15569', 'image' => '20220819041657_Banks - Copy.jpg', 'article_date' => '2022-08-19 16:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15827', 'article_category_id' => '1', 'title' => 'Dusty Cargo to be Unloaded in Nepal from October', 'sub_title' => '', 'summary' => 'August 19: The homework of loading and unloading dusty cargo in Nepal has already started. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 19: The homework of loading and unloading dusty cargo in Nepal has already started. Until now, the loading and unloading of dusty cargo was taking place in the Indian border town of Raxaul. For the time being, preparations have been started to manage it at the Integrated Check Point (ICP) 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:"Arial","sans-serif"">Harihar Paudel, chief customs officer of Birgunj Customs, informed that for now, the homework has been done to unload the cargo at the ICP and bringing it directly to the dry port by rail in the long run. </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:"Arial","sans-serif"">Kamal Gyawali, Birgunj head of Nepal Intermodal Transport Development Committee, the regulator of ICP and the dry port, informed that preparations are being made to manage dusty cargo in Nepali territory from next October.</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:"Arial","sans-serif"">Gyawali also said that they are coordinating with the Birgunj Metropolitan City, local residents and concerned entrepreneurs.</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:"Arial","sans-serif"">Currently, dusty cargo such as coal, iron ore, slag coming from Indian Railways is unloaded in Raxaul. From there, it will be transported to the industry through the old Inerwa route of Birgunj. Industrial raw materials including iron blade, iron roll, salt and fertilizer are also unloaded in Raxaul. In the past, even clinker was unloaded in Raxaul and brought into Nepal. The loading and unloading of clinker was removed from there after locals protested that dusty cargo increased pollution.</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:"Arial","sans-serif"">Therefore, the demand for dusty cargo management in the within the country was raised. A team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, discussed with the concerned parties but could not come up with a solution. The Sainju-led team also studied the feasibility of such cargo management in the area around Birganj port. Finally, dusty cargo is being managed at the ICP.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15568', 'image' => '20220819045658_20190410102147_ICP-Birgunj-2.jpg', 'article_date' => '2022-08-19 16:56:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15828', 'article_category_id' => '1', 'title' => 'Extreme Weather Condition Grips Europe', 'sub_title' => '', 'summary' => 'August 19: Britain has temporarily banned the use of water from the Thames River.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Agencies</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:"Arial","sans-serif"">August 19: Britain has temporarily banned the use of water from the Thames River.</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:"Arial","sans-serif"">Citing unprecedented weather conditions, the public has been banned from using river water in London and the Thames Valley starting from next week. Industries have also been asked to use water carefully.</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:"Arial","sans-serif"">From August 24, river water cannot be used for cleaning cars, watering gardens, filling swimming pools and cleaning windows and doors. Demand for water in the UK has reached its highest level in 25 years due to extreme heat and drought. The water level in the rivers is also declining.</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:"Arial","sans-serif"">Amid such a situation, announcements are being made in Britain and Wales regarding the limited use of water. This July was the driest month in Britain since 1885. Last month, the temperature also rose above 40 degrees Celsius for the first time in history. Drought has been declared in many parts of the country.</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:"Arial","sans-serif"">Not only in Britain but half of Europe is in the grip of drought. There is an extreme shortage of water, agricultural areas have been destroyed, various restrictions have been imposed on the use of water. The problem of forest fires has become extreme and people's lives have started to be affected. For almost two months, there was no rain in western, central and southern Europe.</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:"Arial","sans-serif"">Water levels in rivers of Belgium, the Netherlands, Germany, France, Italy among others have receded significantly. This has affected both transportation and transshipment using waterways. </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:"Arial","sans-serif"">Rhine river is the largest waterway in the country. Concerned authorities have issued warning that the water level is likely to recede to unprecedented levels in coming days. </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:"Arial","sans-serif"">Water levels have also receded in rivers like Siene, Rhone and Loire in France and Po river of Italy as well as Escaut and Maas of Belgium. The river beds of those rivers are visible, according to media reports. It is possible to cross some of those rivers by walking across them at some points. This has caused trouble in operating boats and ships in those rivers. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15567', 'image' => '20220819075814_Untitled.jpg', 'article_date' => '2022-08-19 19:57:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15825', 'article_category_id' => '1', 'title' => 'PM Deuba Worried about Country Importing Foodstuffs ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister rued the inability to tap in the country's abundant potential to produce enough food items itself. </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"">"Despite the country having huge potential, importing foodstuffs including staple food like rice, wheat, corn and vegetables from foreign countries is a matter of concern. This has also increased the country's trade deficit," he said at a two-day seminar organised on Thursday jointly by the National Security Council Secretariat (NSCS) and Quarter Master General of the Nepalese Army on the topic of 'Situation of food security in Nepal'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To end this situation, PM Deuba suggested that there should be access to food for all Nepali citizens by producing enough food within the country. The country is weak in the world in terms of food production despite more than two-thirds of the country's total population dependent on agriculture, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister pointed to the traditional form of farming, lack of irrigation, fertilisers, hybrid seeds and workforce, land fragmentation and the market and unseasonal rain for the poor state of food production in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Rice cultivation during summer and autumn season under the Prime Minister Agriculture Modernisation Project launched by the government can help resolve problems related to food security," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Brigadier General of Nepalese Army Krishna Raj Acharya, who is also assistant coordinator for the NSCS, gave a presentation on the discussions and conclusions taken from papers presented by the Ministry of Agriculture and Livestock Development, the Ministry of Industry, Commerce and Supplies, the National Planning Commission and the Policy Research Institute. The session aimed to assess and evaluate the current situation of food security of the country and make recommendations to the government accordingly.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15566', 'image' => '20220819022303_food.jpg', 'article_date' => '2022-08-19 14:22:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15823', 'article_category_id' => '1', 'title' => ' Experts Stress on Need to Explore New Possibilities for Export Promotion ', 'sub_title' => '', 'summary' => 'August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organised by the Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) in Biratnagar on Thursday, the stakeholders and experts suggested that the government should work for innovative ideas to export agricultural and other goods in the Indian market and reduce the trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, central committee member of FNCCI Abinash Bohara said specific goods-focused policy is needed to end trade reliance on India. He added that export from Nepal to the third countries was a tough job amid such circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bohara argued that agricultural sector should be industrialized and the private sector should work in partnership with the government for identification of new areas for trade promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central committee member of FNCCI and Province 1 Committee Vice-President Rajendra Raut urged the government to assist in processing of agricultural goods adding that there is a good prospect for exporting ginger and fruits from Nepal to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a paper during the programme, former Secretary at the Ministry of Commerce and Supplies Purushottam Ojha said protection of small and medium enterprises (SMEs), coordination among all sides and a centralised policy could be instrumental in production growth and export promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the programme, former member of the National Planning Commission and Chairman of South Asia Watch on Trade, Economics and Environment (SAWTEE) Posh Raj Pandey said Nepal should benefit from the provision of zero-tariff on export of agricultural goods. Pandey was of the view that new areas of productions and identification of new goods should be in place to reduce the country's trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Province 1 President of FNCCI Tikaraj Dhakal and Chief of Agriculture Knowledge Centre, Sunsari, Nil Kamal Singh also expressed their views on diversification of crops to decrease trade deficit and earn foreign exchange. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15565', 'image' => '20220819110523_export.jpg', 'article_date' => '2022-08-19 11:04:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15824', 'article_category_id' => '1', 'title' => 'Investment Board Signs MoU with Indian Company for Feasibility Study of West Seti Project', 'sub_title' => '', 'summary' => 'August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects. </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"">Chief Executive Officer of the Investment Board Nepal Sushil Bhatt, and AK Singh, CMD of the Indian company NHPC signed the Memorandum of Understanding on Thursday in the presence of Prime Minister Sher Bahadur Deuba. </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"">Finance Minister Janardhan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forest and Environment Pradeep Yadav, Chief Minister of Sudurpaschim Province Trilochan Bhatt among others were also present during the programme.</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"">As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</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"">During Thursday’s signing ceremony, the Investment Board and the Indian company also published their respective white papers that included the background, electricity production capacity, transmission and availability of electricity market among other issues.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The MoU also highlights past efforts to develop the project, project development modality and the latest development in the project. </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"">Addressing the signing ceremony, Prime Minister Sher Bahadur Deuba urged the concerned agencies to complete the project on time, which has been in discussion for 40 years. He also expressed his belief that the hydropower projects would contribute significantly to the socio-economic development of Sudur Paschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also assured to extend all kinds of support from the government for the project development as it is making maximum efforts to create an investment-friendly environment in the country.</span><br /> <br /> </span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15564', 'image' => '20220819115309_RoS-KTM-PMDeubah.jpg', 'article_date' => '2022-08-19 11:52:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15822', 'article_category_id' => '1', 'title' => 'PM Deuba Urges Women to Explore Opportunities in Entrepreneurship ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister made such remarks while inaugurating the "Sixth International Women's Trade Expo" organised by the Federation of Woman Entrepreneurs' Associations of Nepal in Lalitpur on Thursday.</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"">On the occasion, the prime minister insisted on the need to promote goods and services based on homegrown skills and technologies, as well as on promoting the market for such products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba was of the view that the trade fair featuring the skills of women entrepreneurs would help promote export business of the country, contributing to the protection and sustainability of small and medium-scale industries run by Nepali women. In addition to this, it would be helpful for promoting women entrepreneurship, excelling their skills in the related field, diversifying their services and products, and expanding market for their efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the women’s community to explore opportunities in the area of entrepreneurship with the maximum utilization of locally-available resources to become economically self-reliant and empowered. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The expo will be an inspiration for women to pursue a career as entrepreneur, contributing to the enchantment of women employment, self-employment and to the nation's economy. I hope the expo for publicity, sale promotion and marketing of goods and services produced by women entrepreneurs will help expand the network and connection of the entire Nepali women entrepreneurs and provide them a platform for the exchange of business ideas and skills," the head of the government said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interactions among entrepreneurs and exchange of information during the expo will be helpful in consolidating business collaboration, coordination and the relations, and this also help in the promotion of Nepali products, said Deuba. He further said that the expo will be an inspiration for foreign investors to explore opportunities in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said he is happy knowing that the products produced by women entrepreneurs of different districts of all seven provinces including Kathmandu Valley based on traditional skill from local means and resources would be kept on display in the expo. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am very happy knowing that women entrepreneurs from remote districts including Jumla, Humla, Dadeldhura and Taplejung have been participating in the expo and that they have brought their production to keep in display," shared PM Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the contribution of private sector is very significant to make the economy dynamic, he mentioned that the private sector has been playing a leading role in creating employment and helping to increase gross domestic product of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba pointed out the need for the government and private sector to move ahead through coordination and collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FWEAN President Neeru Rayamajhi (Khatri) urged the government to pay attention towards women entrepreneurs’ capacity building, financial management and market promotion as well as to construct local infrastructure for market management of local production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 109 stalls of agriculture, handicraft, service, food stuffs as well as production of international entrepreneurs have been kept on display in the expo. Expo coordinator Shova Gyawali said that 55,000 visitors are expected to observe the expo and transaction worth Rs 20 million has been estimated. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15563', 'image' => '20220819105318_IMG-20220818-WA0007.jpg', 'article_date' => '2022-08-19 10:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15820', 'article_category_id' => '1', 'title' => 'Nepal and Britain to Sign Labour Pact on Monday ', 'sub_title' => '', 'summary' => 'August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. According to the state-owned national news agency RSS, the MoU will be signed in Britain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British ambassador to Nepal, Nicola Pollitt would sign the MoU on behalf of their respective countries, the ministry said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on June 14 had approved the labour pact related to sending human resources in the health sector from Nepal to the United Kingdom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15561', 'image' => '20220818032427_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-18 15:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15819', 'article_category_id' => '1', 'title' => 'Remittance Inflow tops Rs 1000 Billion during Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.<br /> The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the remittance inflow in the review year (FY 2021/22) was Rs 1007.31 billion<br /> Similarly, the report further said that the number of Nepali workers taking approval for foreign employment increased significantly to 354,660 in the review year. The number includes new workers seeking labour permits included through institutional and individual basis.<br /> People seeking foreign employment in the previous year (FY 2020/2021) had decreased by 62.8. Meanwhile, the number of Nepali workers seeking renew entry for foreign employment increased by 198.5 percent to 282,453 in the review year. It had decreased by 46.8 percent in the previous year.<br /> According to the NRB report, net transfer increased by 4.3 percent to Rs 1117.88 billion in the review year. Such a transfer had increased 9.1 percent in the previous year.</span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15560', 'image' => '20220818032318_Remittance.jpg', 'article_date' => '2022-08-18 15:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15818', 'article_category_id' => '1', 'title' => 'NEA Marks 37th Anniversary', 'sub_title' => '', 'summary' => 'August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Addressing the ceremony, the executive director of the authority, Kulman Ghising, informed that currently about 96 percent of people are receiving electricity services and 42 districts are fully provided with electricity. He said that the authority is working day and night to fulfill the government's goal of providing 100 percent electricity service to the people within the next two years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director Ghising said that in its 35-year history, the authority for the first time made a profit of Rs 16.16 billion in the last year and said that this would continue to increase.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“With the addition of a total of 735 megawatts of electricity to the national grid last year, including electricity produced by the authority's solar plant, we have reached a situation where we can produce more electricity than the demand during the rainy season,” said Ghising, adding, “We have been able to sell about 400 MW of electricity daily through competitive bid in the Indian Energy Exchange market from the 400 KV Dhalkebar-Muzaffarpur transmission line after receiving permission from the Government of India to export 364 MW of electricity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising also informed that the leakage of electricity has reduced to 15.38 percent, which was 25.78 percent 6 years ago. The authority completed the construction of 16 substations and put them into operation in the fiscal year 2078/79. Ghising said that grid substations of 1383 MVA capacity have been completed and already put into operation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On the occasion of the anniversary, 15 employees and 17 subordinate offices were awarded and honored for their excellent work.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15559', 'image' => '20220818025947_NEA.jpg', 'article_date' => '2022-08-18 14:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15817', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Deficit', 'sub_title' => '', 'summary' => 'August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, capital transfer decreased 34.5 percent to Rs 9.99 billion and net foreign direct investment (FDI) decreased 4.9 percent to Rs 18.56 billion in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous year, capital transfer and net FDI amounted to Rs 15.26 billion and Rs 19.51 billion respectively, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Balance of Payments (BOP) remained at a deficit of Rs 255.26 billion in the review year against a surplus of Rs 1.23 billion in the previous year. In the US dollar terms, the BOP remained at a deficit of 2.14 billion in the review year compared to a deficit of 3.1 million in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gross foreign exchange reserves decreased by 13.1 percent to Rs 1215.80 billion in mid-July 2022 from Rs 1399.03 billion in mid-July 2021, the report further stated. In the US dollar terms, the gross foreign exchange reserves decreased 18.9 percent to 9.54 billion in mid-July 2022 from 11.75 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, the reserves held by NRB decreased by 15.1 percent to Rs 1056.39 billion in mid-July 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) increased 3.2 percent to Rs 159.41 billion in mid-July 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 23.6 percent in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15558', 'image' => '20220818012503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-18 13:24:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15816', 'article_category_id' => '1', 'title' => 'Trade Deficit Increases to Rs 1720.42 Billion', 'sub_title' => '', 'summary' => 'August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the export-import ratio increased to 10.4 percent in the review period from 9.2 percent in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review year, merchandise imports from India by paying convertible foreign currency amounted Rs 213.53 billion compared to Rs 190.54 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During 2021/22, merchandise exports increased by 41.7 percent to Rs 200.03 billion compared to an increase of 44.4 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and other countries increased 45.9 percent and 30.4 respectively whereas exports to China decreased 20.4 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of palm oil, woolen carpet, polyester yarn and thread, zinc sheet, juice, among others, increased whereas exports of soybean oil, cardamom, tea, medicine (ayurvedic), wire, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, merchandise imports increased by 24.7 percent to Rs 1920.45 billion compared to an increase of 28.7 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries increased 23.5 percent, 13.2 percent, and 36.3 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of petroleum products, medicine, crude palm oil, sponge iron, gold, among others, increased whereas imports of MS billet, cement, rice/paddy, pulses, medical equipment and tools, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur Customs Office decreased whereas exports from all other major customs points increased in the review year. On the import side, imports from all major customs points increased in the review year. </span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15557', 'image' => '20220818010018_Trade.jpg', 'article_date' => '2022-08-18 12:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15831', 'article_category_id' => '1', 'title' => 'Government to Honour Record-Keeping Mountaineers ', 'sub_title' => '', 'summary' => 'August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha expressed his commitment to felicitate the record-keeping climbers with cash prize in recognition of their contribution to keep the country's image high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized at Nepal Tourism Board in the honour of record-keeping mountaineers today, Minister Shrestha pledged to felicitate the climbers in recognition of their contributions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The records of the climbers have enhanced the image of the country. The government would provide such people with cash prize," Minister Shrestha said, adding he would take ahead the process to honour the climbers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Nepal's record-keeping climber Sanu Sherpa had successfully scaled all 14 peaks of the world above 8,000 meters twice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, parliamentarian from Nepali Congress (NC) Jeep Tzering Lama urged the state agencies to pay attention on social security aspects of climbers who have worked hard to keep the country's glory and prestige intact. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal Mountaineering Association Chairperson Nimaguru Sherpa said record-keeping in mountaineering has helped Nepal establish its image across the globe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another record-keeping climber Neema Gyaljen Sherpa said environment should be created for climbers to live a life with dignity and prestige. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tourism Minster Shrestha has announced to provide his one-month salary to record-keeping climber Sanu Sherpa. Likewise, lawmaker Lama announced to provide mountaineer duo, Sanu and Nima, with a cash prize of Rs 100,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mountaineer Neema has set a record after climbing all 14 peaks above 8,000 meters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the association honoured both the record-setting climbers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'mountaineering,, record, climbing, government, Everest', 'description' => '', 'sortorder' => '15572', 'image' => '20220821101202_maxresdefault.jpg', 'article_date' => '2022-08-21 10:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15830', 'article_category_id' => '1', 'title' => 'EC Directs Governments not to Implement New Programmes', 'sub_title' => '', 'summary' => 'August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature as well as any new programme that had not been included in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The election commission issued the directive to all three tiers of the government not to execute such programme since the implementation of new programme that were not included in the budget would influence voters and affect election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EC Spokesperson Shaligram Sharma Poudel shared that the commission has directed the governments not to operate and implement any new programme and project apart from disaster risk reduction related activities, humanitarian support and necessary actions required for preventing health related pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'election, commission, plan, programme, new, budget, influence', 'description' => '', 'sortorder' => '15571', 'image' => '20220821100552_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-08-21 10:04:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15829', 'article_category_id' => '1', 'title' => 'Paragliding in Phulchoki from October ', 'sub_title' => '', 'summary' => 'August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. </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"">Currently, the Civil Aviation Authority of Nepal is working on the technical aspects of paragliding from Phulchoki towards Panauti, which falls outside the valley. </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"">Chabilal Humagain, chairperson of Phulchoki Adventure Pvt Ltd, told the state-owned RSS that preparations will be made for commercial flights after the release of operational instructions from the CAAN. </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"">Adventure sports in Nepal is likely to get a boost with the approval from the Tourism Ministry to carry out paragliding flights from Phulchowki to Kushadevi area of Panauti. </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"">A test flight of paragliding was conducted from Gurdumdanda three years ago during a tourism festival, according to RSS. On the occasion, 15 paragliders had conducted test flight for three days. The place for take-off, landing, air pressure, and other conditions were reported to be favorable for paragliding in the area. </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"">Humagain said that since it will take a month to complete all the procedures of paragliding operations, plans are afoot to start commercial flights from coming October. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 10 paragliding companies have been allowed to fly daily from 10 am to 4 pm. Paragliders will take off from Gurdumdanda and land at Bancharetar in Kushadevi. The road distance from Gurdumdanda to Bancharetar is four kilometers. The take-off point is 2,350 meters above sea level while the landing point is 1,300 meters above sea level. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'paragliding, Phulchowki, Panauti, Kathmandu, Kushadevi, CAAN', 'description' => '', 'sortorder' => '15570', 'image' => '20220821100035_para.jpg', 'article_date' => '2022-08-21 09:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15826', 'article_category_id' => '1', 'title' => 'Interest on Loan Climbs to Almost 12 Percent', 'sub_title' => '', 'summary' => 'August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent. The interest on loans has increased after the banks increased interest on deposits due to liquidity crisis. As per Nepal Rastra Bank, the average interest rate on loans issued by commercial banks has reached 11.62 percent in mid-July 2022. The average interest on loans which was 8.43 percent in mid-July last year increased by 3.19 percentage points in just a year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">With lack of liquidity, banks increased the interest rate on savings to attract deposits, resulting in an increment of interest on loans as well. The average interest rate on deposit was 4.65 percent in mid-July 2021 which climbed to 7.41 percent in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After increasing the interest on savings, the base rate of banks also increased. The average base rate of commercial banks was 6.86 percent till mid-July last year. By the mid-July this year, it climbed to 9.54 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest rate on loans by adding a certain percentage premium to the base rate. Due to this, when the base rate increases, the interest rate of bank loans also increases. Banks are allowed to adjust the interest rate based on the quarterly base rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB intervened after there was an unhealthy competition between banks and financial institutions to attract deposits by raising interest rates amid to lack of liquidity. Last October, when the interest rate offered by commercial banks on deposits reached 12 percent, NRB gave a verbal instruction to keep the interest rate within single digit. By issuing a written instruction on October 20, NRB introduced a provision allowing banks to change the interest rate every month by 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to that, the bankers were maintaining a stable interest rate as per the gentleman’s agreement among themselves. Nepal Bankers Association, the umbrella body of chief executive officers (CEOs) of commercial banks, Development Bankers Association, the organization of CEOs of development banks, and Nepal Finance Company Association, the organization of CEOs of finance companies, increased the interest rate by 10 percent in February even though they did not increase the interest rate in December and January. Interest rate has remained same since February because there was no increase in deposits despite the increase in interest rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Prasad Pokharel, deputy spokesperson of NRB says that the interest rate is regulated due to the policy adopted by NRB and the discipline of banks and financial institutions. “If the competition to increase the interest rate of the banks had continued, the interest on loans would have reached 18 percent by now,” said Pokharel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the NRB allowed the banks to increase the interest rate by changing the policy rate on July 3 through the revision of the Unified Directive 2078, the banks had already decided not to increase the interest rate in August as well. Anil Kumar Upadhyay, president of Nepal Bankers Association, said that since there is no possibility of increasing the deposit rate, it was decided not to increase the interest rate immediately.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since February, banks are implementing the agreement to provide a maximum interest rate of 11.03 percent on personal deposits and 10.03 percent on institutional deposits. Similarly, the average interest rate of interbank transactions between commercial banks increased from 4.12 to 6.99 percent during the same period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15569', 'image' => '20220819041657_Banks - Copy.jpg', 'article_date' => '2022-08-19 16:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15827', 'article_category_id' => '1', 'title' => 'Dusty Cargo to be Unloaded in Nepal from October', 'sub_title' => '', 'summary' => 'August 19: The homework of loading and unloading dusty cargo in Nepal has already started. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 19: The homework of loading and unloading dusty cargo in Nepal has already started. Until now, the loading and unloading of dusty cargo was taking place in the Indian border town of Raxaul. For the time being, preparations have been started to manage it at the Integrated Check Point (ICP) 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:"Arial","sans-serif"">Harihar Paudel, chief customs officer of Birgunj Customs, informed that for now, the homework has been done to unload the cargo at the ICP and bringing it directly to the dry port by rail in the long run. </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:"Arial","sans-serif"">Kamal Gyawali, Birgunj head of Nepal Intermodal Transport Development Committee, the regulator of ICP and the dry port, informed that preparations are being made to manage dusty cargo in Nepali territory from next October.</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:"Arial","sans-serif"">Gyawali also said that they are coordinating with the Birgunj Metropolitan City, local residents and concerned entrepreneurs.</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:"Arial","sans-serif"">Currently, dusty cargo such as coal, iron ore, slag coming from Indian Railways is unloaded in Raxaul. From there, it will be transported to the industry through the old Inerwa route of Birgunj. Industrial raw materials including iron blade, iron roll, salt and fertilizer are also unloaded in Raxaul. In the past, even clinker was unloaded in Raxaul and brought into Nepal. The loading and unloading of clinker was removed from there after locals protested that dusty cargo increased pollution.</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:"Arial","sans-serif"">Therefore, the demand for dusty cargo management in the within the country was raised. A team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, discussed with the concerned parties but could not come up with a solution. The Sainju-led team also studied the feasibility of such cargo management in the area around Birganj port. Finally, dusty cargo is being managed at the ICP.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15568', 'image' => '20220819045658_20190410102147_ICP-Birgunj-2.jpg', 'article_date' => '2022-08-19 16:56:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15828', 'article_category_id' => '1', 'title' => 'Extreme Weather Condition Grips Europe', 'sub_title' => '', 'summary' => 'August 19: Britain has temporarily banned the use of water from the Thames River.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Agencies</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:"Arial","sans-serif"">August 19: Britain has temporarily banned the use of water from the Thames River.</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:"Arial","sans-serif"">Citing unprecedented weather conditions, the public has been banned from using river water in London and the Thames Valley starting from next week. Industries have also been asked to use water carefully.</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:"Arial","sans-serif"">From August 24, river water cannot be used for cleaning cars, watering gardens, filling swimming pools and cleaning windows and doors. Demand for water in the UK has reached its highest level in 25 years due to extreme heat and drought. The water level in the rivers is also declining.</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:"Arial","sans-serif"">Amid such a situation, announcements are being made in Britain and Wales regarding the limited use of water. This July was the driest month in Britain since 1885. Last month, the temperature also rose above 40 degrees Celsius for the first time in history. Drought has been declared in many parts of the country.</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:"Arial","sans-serif"">Not only in Britain but half of Europe is in the grip of drought. There is an extreme shortage of water, agricultural areas have been destroyed, various restrictions have been imposed on the use of water. The problem of forest fires has become extreme and people's lives have started to be affected. For almost two months, there was no rain in western, central and southern Europe.</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:"Arial","sans-serif"">Water levels in rivers of Belgium, the Netherlands, Germany, France, Italy among others have receded significantly. This has affected both transportation and transshipment using waterways. </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:"Arial","sans-serif"">Rhine river is the largest waterway in the country. Concerned authorities have issued warning that the water level is likely to recede to unprecedented levels in coming days. </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:"Arial","sans-serif"">Water levels have also receded in rivers like Siene, Rhone and Loire in France and Po river of Italy as well as Escaut and Maas of Belgium. The river beds of those rivers are visible, according to media reports. It is possible to cross some of those rivers by walking across them at some points. This has caused trouble in operating boats and ships in those rivers. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15567', 'image' => '20220819075814_Untitled.jpg', 'article_date' => '2022-08-19 19:57:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15825', 'article_category_id' => '1', 'title' => 'PM Deuba Worried about Country Importing Foodstuffs ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister rued the inability to tap in the country's abundant potential to produce enough food items itself. </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"">"Despite the country having huge potential, importing foodstuffs including staple food like rice, wheat, corn and vegetables from foreign countries is a matter of concern. This has also increased the country's trade deficit," he said at a two-day seminar organised on Thursday jointly by the National Security Council Secretariat (NSCS) and Quarter Master General of the Nepalese Army on the topic of 'Situation of food security in Nepal'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To end this situation, PM Deuba suggested that there should be access to food for all Nepali citizens by producing enough food within the country. The country is weak in the world in terms of food production despite more than two-thirds of the country's total population dependent on agriculture, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister pointed to the traditional form of farming, lack of irrigation, fertilisers, hybrid seeds and workforce, land fragmentation and the market and unseasonal rain for the poor state of food production in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Rice cultivation during summer and autumn season under the Prime Minister Agriculture Modernisation Project launched by the government can help resolve problems related to food security," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Brigadier General of Nepalese Army Krishna Raj Acharya, who is also assistant coordinator for the NSCS, gave a presentation on the discussions and conclusions taken from papers presented by the Ministry of Agriculture and Livestock Development, the Ministry of Industry, Commerce and Supplies, the National Planning Commission and the Policy Research Institute. The session aimed to assess and evaluate the current situation of food security of the country and make recommendations to the government accordingly.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15566', 'image' => '20220819022303_food.jpg', 'article_date' => '2022-08-19 14:22:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15823', 'article_category_id' => '1', 'title' => ' Experts Stress on Need to Explore New Possibilities for Export Promotion ', 'sub_title' => '', 'summary' => 'August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organised by the Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) in Biratnagar on Thursday, the stakeholders and experts suggested that the government should work for innovative ideas to export agricultural and other goods in the Indian market and reduce the trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, central committee member of FNCCI Abinash Bohara said specific goods-focused policy is needed to end trade reliance on India. He added that export from Nepal to the third countries was a tough job amid such circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bohara argued that agricultural sector should be industrialized and the private sector should work in partnership with the government for identification of new areas for trade promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central committee member of FNCCI and Province 1 Committee Vice-President Rajendra Raut urged the government to assist in processing of agricultural goods adding that there is a good prospect for exporting ginger and fruits from Nepal to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a paper during the programme, former Secretary at the Ministry of Commerce and Supplies Purushottam Ojha said protection of small and medium enterprises (SMEs), coordination among all sides and a centralised policy could be instrumental in production growth and export promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the programme, former member of the National Planning Commission and Chairman of South Asia Watch on Trade, Economics and Environment (SAWTEE) Posh Raj Pandey said Nepal should benefit from the provision of zero-tariff on export of agricultural goods. Pandey was of the view that new areas of productions and identification of new goods should be in place to reduce the country's trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Province 1 President of FNCCI Tikaraj Dhakal and Chief of Agriculture Knowledge Centre, Sunsari, Nil Kamal Singh also expressed their views on diversification of crops to decrease trade deficit and earn foreign exchange. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15565', 'image' => '20220819110523_export.jpg', 'article_date' => '2022-08-19 11:04:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15824', 'article_category_id' => '1', 'title' => 'Investment Board Signs MoU with Indian Company for Feasibility Study of West Seti Project', 'sub_title' => '', 'summary' => 'August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects. </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"">Chief Executive Officer of the Investment Board Nepal Sushil Bhatt, and AK Singh, CMD of the Indian company NHPC signed the Memorandum of Understanding on Thursday in the presence of Prime Minister Sher Bahadur Deuba. </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"">Finance Minister Janardhan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forest and Environment Pradeep Yadav, Chief Minister of Sudurpaschim Province Trilochan Bhatt among others were also present during the programme.</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"">As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</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"">During Thursday’s signing ceremony, the Investment Board and the Indian company also published their respective white papers that included the background, electricity production capacity, transmission and availability of electricity market among other issues.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The MoU also highlights past efforts to develop the project, project development modality and the latest development in the project. </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"">Addressing the signing ceremony, Prime Minister Sher Bahadur Deuba urged the concerned agencies to complete the project on time, which has been in discussion for 40 years. He also expressed his belief that the hydropower projects would contribute significantly to the socio-economic development of Sudur Paschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also assured to extend all kinds of support from the government for the project development as it is making maximum efforts to create an investment-friendly environment in the country.</span><br /> <br /> </span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15564', 'image' => '20220819115309_RoS-KTM-PMDeubah.jpg', 'article_date' => '2022-08-19 11:52:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15822', 'article_category_id' => '1', 'title' => 'PM Deuba Urges Women to Explore Opportunities in Entrepreneurship ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister made such remarks while inaugurating the "Sixth International Women's Trade Expo" organised by the Federation of Woman Entrepreneurs' Associations of Nepal in Lalitpur on Thursday.</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"">On the occasion, the prime minister insisted on the need to promote goods and services based on homegrown skills and technologies, as well as on promoting the market for such products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba was of the view that the trade fair featuring the skills of women entrepreneurs would help promote export business of the country, contributing to the protection and sustainability of small and medium-scale industries run by Nepali women. In addition to this, it would be helpful for promoting women entrepreneurship, excelling their skills in the related field, diversifying their services and products, and expanding market for their efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the women’s community to explore opportunities in the area of entrepreneurship with the maximum utilization of locally-available resources to become economically self-reliant and empowered. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The expo will be an inspiration for women to pursue a career as entrepreneur, contributing to the enchantment of women employment, self-employment and to the nation's economy. I hope the expo for publicity, sale promotion and marketing of goods and services produced by women entrepreneurs will help expand the network and connection of the entire Nepali women entrepreneurs and provide them a platform for the exchange of business ideas and skills," the head of the government said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interactions among entrepreneurs and exchange of information during the expo will be helpful in consolidating business collaboration, coordination and the relations, and this also help in the promotion of Nepali products, said Deuba. He further said that the expo will be an inspiration for foreign investors to explore opportunities in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said he is happy knowing that the products produced by women entrepreneurs of different districts of all seven provinces including Kathmandu Valley based on traditional skill from local means and resources would be kept on display in the expo. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am very happy knowing that women entrepreneurs from remote districts including Jumla, Humla, Dadeldhura and Taplejung have been participating in the expo and that they have brought their production to keep in display," shared PM Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the contribution of private sector is very significant to make the economy dynamic, he mentioned that the private sector has been playing a leading role in creating employment and helping to increase gross domestic product of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba pointed out the need for the government and private sector to move ahead through coordination and collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FWEAN President Neeru Rayamajhi (Khatri) urged the government to pay attention towards women entrepreneurs’ capacity building, financial management and market promotion as well as to construct local infrastructure for market management of local production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 109 stalls of agriculture, handicraft, service, food stuffs as well as production of international entrepreneurs have been kept on display in the expo. Expo coordinator Shova Gyawali said that 55,000 visitors are expected to observe the expo and transaction worth Rs 20 million has been estimated. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15563', 'image' => '20220819105318_IMG-20220818-WA0007.jpg', 'article_date' => '2022-08-19 10:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15820', 'article_category_id' => '1', 'title' => 'Nepal and Britain to Sign Labour Pact on Monday ', 'sub_title' => '', 'summary' => 'August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. According to the state-owned national news agency RSS, the MoU will be signed in Britain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British ambassador to Nepal, Nicola Pollitt would sign the MoU on behalf of their respective countries, the ministry said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on June 14 had approved the labour pact related to sending human resources in the health sector from Nepal to the United Kingdom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15561', 'image' => '20220818032427_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-18 15:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15819', 'article_category_id' => '1', 'title' => 'Remittance Inflow tops Rs 1000 Billion during Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.<br /> The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the remittance inflow in the review year (FY 2021/22) was Rs 1007.31 billion<br /> Similarly, the report further said that the number of Nepali workers taking approval for foreign employment increased significantly to 354,660 in the review year. The number includes new workers seeking labour permits included through institutional and individual basis.<br /> People seeking foreign employment in the previous year (FY 2020/2021) had decreased by 62.8. Meanwhile, the number of Nepali workers seeking renew entry for foreign employment increased by 198.5 percent to 282,453 in the review year. It had decreased by 46.8 percent in the previous year.<br /> According to the NRB report, net transfer increased by 4.3 percent to Rs 1117.88 billion in the review year. Such a transfer had increased 9.1 percent in the previous year.</span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15560', 'image' => '20220818032318_Remittance.jpg', 'article_date' => '2022-08-18 15:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15818', 'article_category_id' => '1', 'title' => 'NEA Marks 37th Anniversary', 'sub_title' => '', 'summary' => 'August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Addressing the ceremony, the executive director of the authority, Kulman Ghising, informed that currently about 96 percent of people are receiving electricity services and 42 districts are fully provided with electricity. He said that the authority is working day and night to fulfill the government's goal of providing 100 percent electricity service to the people within the next two years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director Ghising said that in its 35-year history, the authority for the first time made a profit of Rs 16.16 billion in the last year and said that this would continue to increase.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“With the addition of a total of 735 megawatts of electricity to the national grid last year, including electricity produced by the authority's solar plant, we have reached a situation where we can produce more electricity than the demand during the rainy season,” said Ghising, adding, “We have been able to sell about 400 MW of electricity daily through competitive bid in the Indian Energy Exchange market from the 400 KV Dhalkebar-Muzaffarpur transmission line after receiving permission from the Government of India to export 364 MW of electricity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising also informed that the leakage of electricity has reduced to 15.38 percent, which was 25.78 percent 6 years ago. The authority completed the construction of 16 substations and put them into operation in the fiscal year 2078/79. Ghising said that grid substations of 1383 MVA capacity have been completed and already put into operation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On the occasion of the anniversary, 15 employees and 17 subordinate offices were awarded and honored for their excellent work.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15559', 'image' => '20220818025947_NEA.jpg', 'article_date' => '2022-08-18 14:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15817', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Deficit', 'sub_title' => '', 'summary' => 'August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, capital transfer decreased 34.5 percent to Rs 9.99 billion and net foreign direct investment (FDI) decreased 4.9 percent to Rs 18.56 billion in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous year, capital transfer and net FDI amounted to Rs 15.26 billion and Rs 19.51 billion respectively, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Balance of Payments (BOP) remained at a deficit of Rs 255.26 billion in the review year against a surplus of Rs 1.23 billion in the previous year. In the US dollar terms, the BOP remained at a deficit of 2.14 billion in the review year compared to a deficit of 3.1 million in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gross foreign exchange reserves decreased by 13.1 percent to Rs 1215.80 billion in mid-July 2022 from Rs 1399.03 billion in mid-July 2021, the report further stated. In the US dollar terms, the gross foreign exchange reserves decreased 18.9 percent to 9.54 billion in mid-July 2022 from 11.75 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, the reserves held by NRB decreased by 15.1 percent to Rs 1056.39 billion in mid-July 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) increased 3.2 percent to Rs 159.41 billion in mid-July 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 23.6 percent in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15558', 'image' => '20220818012503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-18 13:24:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15816', 'article_category_id' => '1', 'title' => 'Trade Deficit Increases to Rs 1720.42 Billion', 'sub_title' => '', 'summary' => 'August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the export-import ratio increased to 10.4 percent in the review period from 9.2 percent in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review year, merchandise imports from India by paying convertible foreign currency amounted Rs 213.53 billion compared to Rs 190.54 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During 2021/22, merchandise exports increased by 41.7 percent to Rs 200.03 billion compared to an increase of 44.4 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and other countries increased 45.9 percent and 30.4 respectively whereas exports to China decreased 20.4 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of palm oil, woolen carpet, polyester yarn and thread, zinc sheet, juice, among others, increased whereas exports of soybean oil, cardamom, tea, medicine (ayurvedic), wire, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, merchandise imports increased by 24.7 percent to Rs 1920.45 billion compared to an increase of 28.7 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries increased 23.5 percent, 13.2 percent, and 36.3 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of petroleum products, medicine, crude palm oil, sponge iron, gold, among others, increased whereas imports of MS billet, cement, rice/paddy, pulses, medical equipment and tools, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur Customs Office decreased whereas exports from all other major customs points increased in the review year. On the import side, imports from all major customs points increased in the review year. </span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15557', 'image' => '20220818010018_Trade.jpg', 'article_date' => '2022-08-18 12:59:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15831', 'article_category_id' => '1', 'title' => 'Government to Honour Record-Keeping Mountaineers ', 'sub_title' => '', 'summary' => 'August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha expressed his commitment to felicitate the record-keeping climbers with cash prize in recognition of their contribution to keep the country's image high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized at Nepal Tourism Board in the honour of record-keeping mountaineers today, Minister Shrestha pledged to felicitate the climbers in recognition of their contributions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The records of the climbers have enhanced the image of the country. The government would provide such people with cash prize," Minister Shrestha said, adding he would take ahead the process to honour the climbers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Nepal's record-keeping climber Sanu Sherpa had successfully scaled all 14 peaks of the world above 8,000 meters twice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, parliamentarian from Nepali Congress (NC) Jeep Tzering Lama urged the state agencies to pay attention on social security aspects of climbers who have worked hard to keep the country's glory and prestige intact. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal Mountaineering Association Chairperson Nimaguru Sherpa said record-keeping in mountaineering has helped Nepal establish its image across the globe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another record-keeping climber Neema Gyaljen Sherpa said environment should be created for climbers to live a life with dignity and prestige. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tourism Minster Shrestha has announced to provide his one-month salary to record-keeping climber Sanu Sherpa. Likewise, lawmaker Lama announced to provide mountaineer duo, Sanu and Nima, with a cash prize of Rs 100,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mountaineer Neema has set a record after climbing all 14 peaks above 8,000 meters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the association honoured both the record-setting climbers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'mountaineering,, record, climbing, government, Everest', 'description' => '', 'sortorder' => '15572', 'image' => '20220821101202_maxresdefault.jpg', 'article_date' => '2022-08-21 10:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15830', 'article_category_id' => '1', 'title' => 'EC Directs Governments not to Implement New Programmes', 'sub_title' => '', 'summary' => 'August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature as well as any new programme that had not been included in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The election commission issued the directive to all three tiers of the government not to execute such programme since the implementation of new programme that were not included in the budget would influence voters and affect election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EC Spokesperson Shaligram Sharma Poudel shared that the commission has directed the governments not to operate and implement any new programme and project apart from disaster risk reduction related activities, humanitarian support and necessary actions required for preventing health related pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'election, commission, plan, programme, new, budget, influence', 'description' => '', 'sortorder' => '15571', 'image' => '20220821100552_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-08-21 10:04:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15829', 'article_category_id' => '1', 'title' => 'Paragliding in Phulchoki from October ', 'sub_title' => '', 'summary' => 'August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. </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"">Currently, the Civil Aviation Authority of Nepal is working on the technical aspects of paragliding from Phulchoki towards Panauti, which falls outside the valley. </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"">Chabilal Humagain, chairperson of Phulchoki Adventure Pvt Ltd, told the state-owned RSS that preparations will be made for commercial flights after the release of operational instructions from the CAAN. </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"">Adventure sports in Nepal is likely to get a boost with the approval from the Tourism Ministry to carry out paragliding flights from Phulchowki to Kushadevi area of Panauti. </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"">A test flight of paragliding was conducted from Gurdumdanda three years ago during a tourism festival, according to RSS. On the occasion, 15 paragliders had conducted test flight for three days. The place for take-off, landing, air pressure, and other conditions were reported to be favorable for paragliding in the area. </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"">Humagain said that since it will take a month to complete all the procedures of paragliding operations, plans are afoot to start commercial flights from coming October. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 10 paragliding companies have been allowed to fly daily from 10 am to 4 pm. Paragliders will take off from Gurdumdanda and land at Bancharetar in Kushadevi. The road distance from Gurdumdanda to Bancharetar is four kilometers. The take-off point is 2,350 meters above sea level while the landing point is 1,300 meters above sea level. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'paragliding, Phulchowki, Panauti, Kathmandu, Kushadevi, CAAN', 'description' => '', 'sortorder' => '15570', 'image' => '20220821100035_para.jpg', 'article_date' => '2022-08-21 09:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15826', 'article_category_id' => '1', 'title' => 'Interest on Loan Climbs to Almost 12 Percent', 'sub_title' => '', 'summary' => 'August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent. The interest on loans has increased after the banks increased interest on deposits due to liquidity crisis. As per Nepal Rastra Bank, the average interest rate on loans issued by commercial banks has reached 11.62 percent in mid-July 2022. The average interest on loans which was 8.43 percent in mid-July last year increased by 3.19 percentage points in just a year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">With lack of liquidity, banks increased the interest rate on savings to attract deposits, resulting in an increment of interest on loans as well. The average interest rate on deposit was 4.65 percent in mid-July 2021 which climbed to 7.41 percent in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After increasing the interest on savings, the base rate of banks also increased. The average base rate of commercial banks was 6.86 percent till mid-July last year. By the mid-July this year, it climbed to 9.54 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest rate on loans by adding a certain percentage premium to the base rate. Due to this, when the base rate increases, the interest rate of bank loans also increases. Banks are allowed to adjust the interest rate based on the quarterly base rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB intervened after there was an unhealthy competition between banks and financial institutions to attract deposits by raising interest rates amid to lack of liquidity. Last October, when the interest rate offered by commercial banks on deposits reached 12 percent, NRB gave a verbal instruction to keep the interest rate within single digit. By issuing a written instruction on October 20, NRB introduced a provision allowing banks to change the interest rate every month by 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to that, the bankers were maintaining a stable interest rate as per the gentleman’s agreement among themselves. Nepal Bankers Association, the umbrella body of chief executive officers (CEOs) of commercial banks, Development Bankers Association, the organization of CEOs of development banks, and Nepal Finance Company Association, the organization of CEOs of finance companies, increased the interest rate by 10 percent in February even though they did not increase the interest rate in December and January. Interest rate has remained same since February because there was no increase in deposits despite the increase in interest rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Prasad Pokharel, deputy spokesperson of NRB says that the interest rate is regulated due to the policy adopted by NRB and the discipline of banks and financial institutions. “If the competition to increase the interest rate of the banks had continued, the interest on loans would have reached 18 percent by now,” said Pokharel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the NRB allowed the banks to increase the interest rate by changing the policy rate on July 3 through the revision of the Unified Directive 2078, the banks had already decided not to increase the interest rate in August as well. Anil Kumar Upadhyay, president of Nepal Bankers Association, said that since there is no possibility of increasing the deposit rate, it was decided not to increase the interest rate immediately.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since February, banks are implementing the agreement to provide a maximum interest rate of 11.03 percent on personal deposits and 10.03 percent on institutional deposits. Similarly, the average interest rate of interbank transactions between commercial banks increased from 4.12 to 6.99 percent during the same period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15569', 'image' => '20220819041657_Banks - Copy.jpg', 'article_date' => '2022-08-19 16:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15827', 'article_category_id' => '1', 'title' => 'Dusty Cargo to be Unloaded in Nepal from October', 'sub_title' => '', 'summary' => 'August 19: The homework of loading and unloading dusty cargo in Nepal has already started. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 19: The homework of loading and unloading dusty cargo in Nepal has already started. Until now, the loading and unloading of dusty cargo was taking place in the Indian border town of Raxaul. For the time being, preparations have been started to manage it at the Integrated Check Point (ICP) 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:"Arial","sans-serif"">Harihar Paudel, chief customs officer of Birgunj Customs, informed that for now, the homework has been done to unload the cargo at the ICP and bringing it directly to the dry port by rail in the long run. </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:"Arial","sans-serif"">Kamal Gyawali, Birgunj head of Nepal Intermodal Transport Development Committee, the regulator of ICP and the dry port, informed that preparations are being made to manage dusty cargo in Nepali territory from next October.</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:"Arial","sans-serif"">Gyawali also said that they are coordinating with the Birgunj Metropolitan City, local residents and concerned entrepreneurs.</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:"Arial","sans-serif"">Currently, dusty cargo such as coal, iron ore, slag coming from Indian Railways is unloaded in Raxaul. From there, it will be transported to the industry through the old Inerwa route of Birgunj. Industrial raw materials including iron blade, iron roll, salt and fertilizer are also unloaded in Raxaul. In the past, even clinker was unloaded in Raxaul and brought into Nepal. The loading and unloading of clinker was removed from there after locals protested that dusty cargo increased pollution.</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:"Arial","sans-serif"">Therefore, the demand for dusty cargo management in the within the country was raised. A team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, discussed with the concerned parties but could not come up with a solution. The Sainju-led team also studied the feasibility of such cargo management in the area around Birganj port. Finally, dusty cargo is being managed at the ICP.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15568', 'image' => '20220819045658_20190410102147_ICP-Birgunj-2.jpg', 'article_date' => '2022-08-19 16:56:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15828', 'article_category_id' => '1', 'title' => 'Extreme Weather Condition Grips Europe', 'sub_title' => '', 'summary' => 'August 19: Britain has temporarily banned the use of water from the Thames River.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Agencies</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:"Arial","sans-serif"">August 19: Britain has temporarily banned the use of water from the Thames River.</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:"Arial","sans-serif"">Citing unprecedented weather conditions, the public has been banned from using river water in London and the Thames Valley starting from next week. Industries have also been asked to use water carefully.</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:"Arial","sans-serif"">From August 24, river water cannot be used for cleaning cars, watering gardens, filling swimming pools and cleaning windows and doors. Demand for water in the UK has reached its highest level in 25 years due to extreme heat and drought. The water level in the rivers is also declining.</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:"Arial","sans-serif"">Amid such a situation, announcements are being made in Britain and Wales regarding the limited use of water. This July was the driest month in Britain since 1885. Last month, the temperature also rose above 40 degrees Celsius for the first time in history. Drought has been declared in many parts of the country.</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:"Arial","sans-serif"">Not only in Britain but half of Europe is in the grip of drought. There is an extreme shortage of water, agricultural areas have been destroyed, various restrictions have been imposed on the use of water. The problem of forest fires has become extreme and people's lives have started to be affected. For almost two months, there was no rain in western, central and southern Europe.</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:"Arial","sans-serif"">Water levels in rivers of Belgium, the Netherlands, Germany, France, Italy among others have receded significantly. This has affected both transportation and transshipment using waterways. </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:"Arial","sans-serif"">Rhine river is the largest waterway in the country. Concerned authorities have issued warning that the water level is likely to recede to unprecedented levels in coming days. </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:"Arial","sans-serif"">Water levels have also receded in rivers like Siene, Rhone and Loire in France and Po river of Italy as well as Escaut and Maas of Belgium. The river beds of those rivers are visible, according to media reports. It is possible to cross some of those rivers by walking across them at some points. This has caused trouble in operating boats and ships in those rivers. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15567', 'image' => '20220819075814_Untitled.jpg', 'article_date' => '2022-08-19 19:57:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15825', 'article_category_id' => '1', 'title' => 'PM Deuba Worried about Country Importing Foodstuffs ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister rued the inability to tap in the country's abundant potential to produce enough food items itself. </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"">"Despite the country having huge potential, importing foodstuffs including staple food like rice, wheat, corn and vegetables from foreign countries is a matter of concern. This has also increased the country's trade deficit," he said at a two-day seminar organised on Thursday jointly by the National Security Council Secretariat (NSCS) and Quarter Master General of the Nepalese Army on the topic of 'Situation of food security in Nepal'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To end this situation, PM Deuba suggested that there should be access to food for all Nepali citizens by producing enough food within the country. The country is weak in the world in terms of food production despite more than two-thirds of the country's total population dependent on agriculture, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister pointed to the traditional form of farming, lack of irrigation, fertilisers, hybrid seeds and workforce, land fragmentation and the market and unseasonal rain for the poor state of food production in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Rice cultivation during summer and autumn season under the Prime Minister Agriculture Modernisation Project launched by the government can help resolve problems related to food security," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Brigadier General of Nepalese Army Krishna Raj Acharya, who is also assistant coordinator for the NSCS, gave a presentation on the discussions and conclusions taken from papers presented by the Ministry of Agriculture and Livestock Development, the Ministry of Industry, Commerce and Supplies, the National Planning Commission and the Policy Research Institute. The session aimed to assess and evaluate the current situation of food security of the country and make recommendations to the government accordingly.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15566', 'image' => '20220819022303_food.jpg', 'article_date' => '2022-08-19 14:22:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15823', 'article_category_id' => '1', 'title' => ' Experts Stress on Need to Explore New Possibilities for Export Promotion ', 'sub_title' => '', 'summary' => 'August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organised by the Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) in Biratnagar on Thursday, the stakeholders and experts suggested that the government should work for innovative ideas to export agricultural and other goods in the Indian market and reduce the trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, central committee member of FNCCI Abinash Bohara said specific goods-focused policy is needed to end trade reliance on India. He added that export from Nepal to the third countries was a tough job amid such circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bohara argued that agricultural sector should be industrialized and the private sector should work in partnership with the government for identification of new areas for trade promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central committee member of FNCCI and Province 1 Committee Vice-President Rajendra Raut urged the government to assist in processing of agricultural goods adding that there is a good prospect for exporting ginger and fruits from Nepal to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a paper during the programme, former Secretary at the Ministry of Commerce and Supplies Purushottam Ojha said protection of small and medium enterprises (SMEs), coordination among all sides and a centralised policy could be instrumental in production growth and export promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the programme, former member of the National Planning Commission and Chairman of South Asia Watch on Trade, Economics and Environment (SAWTEE) Posh Raj Pandey said Nepal should benefit from the provision of zero-tariff on export of agricultural goods. Pandey was of the view that new areas of productions and identification of new goods should be in place to reduce the country's trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Province 1 President of FNCCI Tikaraj Dhakal and Chief of Agriculture Knowledge Centre, Sunsari, Nil Kamal Singh also expressed their views on diversification of crops to decrease trade deficit and earn foreign exchange. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15565', 'image' => '20220819110523_export.jpg', 'article_date' => '2022-08-19 11:04:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15824', 'article_category_id' => '1', 'title' => 'Investment Board Signs MoU with Indian Company for Feasibility Study of West Seti Project', 'sub_title' => '', 'summary' => 'August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects. </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"">Chief Executive Officer of the Investment Board Nepal Sushil Bhatt, and AK Singh, CMD of the Indian company NHPC signed the Memorandum of Understanding on Thursday in the presence of Prime Minister Sher Bahadur Deuba. </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"">Finance Minister Janardhan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forest and Environment Pradeep Yadav, Chief Minister of Sudurpaschim Province Trilochan Bhatt among others were also present during the programme.</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"">As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</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"">During Thursday’s signing ceremony, the Investment Board and the Indian company also published their respective white papers that included the background, electricity production capacity, transmission and availability of electricity market among other issues.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The MoU also highlights past efforts to develop the project, project development modality and the latest development in the project. </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"">Addressing the signing ceremony, Prime Minister Sher Bahadur Deuba urged the concerned agencies to complete the project on time, which has been in discussion for 40 years. He also expressed his belief that the hydropower projects would contribute significantly to the socio-economic development of Sudur Paschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also assured to extend all kinds of support from the government for the project development as it is making maximum efforts to create an investment-friendly environment in the country.</span><br /> <br /> </span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15564', 'image' => '20220819115309_RoS-KTM-PMDeubah.jpg', 'article_date' => '2022-08-19 11:52:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15822', 'article_category_id' => '1', 'title' => 'PM Deuba Urges Women to Explore Opportunities in Entrepreneurship ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister made such remarks while inaugurating the "Sixth International Women's Trade Expo" organised by the Federation of Woman Entrepreneurs' Associations of Nepal in Lalitpur on Thursday.</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"">On the occasion, the prime minister insisted on the need to promote goods and services based on homegrown skills and technologies, as well as on promoting the market for such products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba was of the view that the trade fair featuring the skills of women entrepreneurs would help promote export business of the country, contributing to the protection and sustainability of small and medium-scale industries run by Nepali women. In addition to this, it would be helpful for promoting women entrepreneurship, excelling their skills in the related field, diversifying their services and products, and expanding market for their efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the women’s community to explore opportunities in the area of entrepreneurship with the maximum utilization of locally-available resources to become economically self-reliant and empowered. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The expo will be an inspiration for women to pursue a career as entrepreneur, contributing to the enchantment of women employment, self-employment and to the nation's economy. I hope the expo for publicity, sale promotion and marketing of goods and services produced by women entrepreneurs will help expand the network and connection of the entire Nepali women entrepreneurs and provide them a platform for the exchange of business ideas and skills," the head of the government said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interactions among entrepreneurs and exchange of information during the expo will be helpful in consolidating business collaboration, coordination and the relations, and this also help in the promotion of Nepali products, said Deuba. He further said that the expo will be an inspiration for foreign investors to explore opportunities in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said he is happy knowing that the products produced by women entrepreneurs of different districts of all seven provinces including Kathmandu Valley based on traditional skill from local means and resources would be kept on display in the expo. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am very happy knowing that women entrepreneurs from remote districts including Jumla, Humla, Dadeldhura and Taplejung have been participating in the expo and that they have brought their production to keep in display," shared PM Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the contribution of private sector is very significant to make the economy dynamic, he mentioned that the private sector has been playing a leading role in creating employment and helping to increase gross domestic product of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba pointed out the need for the government and private sector to move ahead through coordination and collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FWEAN President Neeru Rayamajhi (Khatri) urged the government to pay attention towards women entrepreneurs’ capacity building, financial management and market promotion as well as to construct local infrastructure for market management of local production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 109 stalls of agriculture, handicraft, service, food stuffs as well as production of international entrepreneurs have been kept on display in the expo. Expo coordinator Shova Gyawali said that 55,000 visitors are expected to observe the expo and transaction worth Rs 20 million has been estimated. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15563', 'image' => '20220819105318_IMG-20220818-WA0007.jpg', 'article_date' => '2022-08-19 10:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15820', 'article_category_id' => '1', 'title' => 'Nepal and Britain to Sign Labour Pact on Monday ', 'sub_title' => '', 'summary' => 'August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. According to the state-owned national news agency RSS, the MoU will be signed in Britain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British ambassador to Nepal, Nicola Pollitt would sign the MoU on behalf of their respective countries, the ministry said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on June 14 had approved the labour pact related to sending human resources in the health sector from Nepal to the United Kingdom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15561', 'image' => '20220818032427_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-18 15:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15819', 'article_category_id' => '1', 'title' => 'Remittance Inflow tops Rs 1000 Billion during Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.<br /> The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the remittance inflow in the review year (FY 2021/22) was Rs 1007.31 billion<br /> Similarly, the report further said that the number of Nepali workers taking approval for foreign employment increased significantly to 354,660 in the review year. The number includes new workers seeking labour permits included through institutional and individual basis.<br /> People seeking foreign employment in the previous year (FY 2020/2021) had decreased by 62.8. Meanwhile, the number of Nepali workers seeking renew entry for foreign employment increased by 198.5 percent to 282,453 in the review year. It had decreased by 46.8 percent in the previous year.<br /> According to the NRB report, net transfer increased by 4.3 percent to Rs 1117.88 billion in the review year. Such a transfer had increased 9.1 percent in the previous year.</span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15560', 'image' => '20220818032318_Remittance.jpg', 'article_date' => '2022-08-18 15:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15818', 'article_category_id' => '1', 'title' => 'NEA Marks 37th Anniversary', 'sub_title' => '', 'summary' => 'August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Addressing the ceremony, the executive director of the authority, Kulman Ghising, informed that currently about 96 percent of people are receiving electricity services and 42 districts are fully provided with electricity. He said that the authority is working day and night to fulfill the government's goal of providing 100 percent electricity service to the people within the next two years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director Ghising said that in its 35-year history, the authority for the first time made a profit of Rs 16.16 billion in the last year and said that this would continue to increase.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“With the addition of a total of 735 megawatts of electricity to the national grid last year, including electricity produced by the authority's solar plant, we have reached a situation where we can produce more electricity than the demand during the rainy season,” said Ghising, adding, “We have been able to sell about 400 MW of electricity daily through competitive bid in the Indian Energy Exchange market from the 400 KV Dhalkebar-Muzaffarpur transmission line after receiving permission from the Government of India to export 364 MW of electricity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising also informed that the leakage of electricity has reduced to 15.38 percent, which was 25.78 percent 6 years ago. The authority completed the construction of 16 substations and put them into operation in the fiscal year 2078/79. Ghising said that grid substations of 1383 MVA capacity have been completed and already put into operation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On the occasion of the anniversary, 15 employees and 17 subordinate offices were awarded and honored for their excellent work.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15559', 'image' => '20220818025947_NEA.jpg', 'article_date' => '2022-08-18 14:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15817', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Deficit', 'sub_title' => '', 'summary' => 'August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, capital transfer decreased 34.5 percent to Rs 9.99 billion and net foreign direct investment (FDI) decreased 4.9 percent to Rs 18.56 billion in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous year, capital transfer and net FDI amounted to Rs 15.26 billion and Rs 19.51 billion respectively, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Balance of Payments (BOP) remained at a deficit of Rs 255.26 billion in the review year against a surplus of Rs 1.23 billion in the previous year. In the US dollar terms, the BOP remained at a deficit of 2.14 billion in the review year compared to a deficit of 3.1 million in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gross foreign exchange reserves decreased by 13.1 percent to Rs 1215.80 billion in mid-July 2022 from Rs 1399.03 billion in mid-July 2021, the report further stated. In the US dollar terms, the gross foreign exchange reserves decreased 18.9 percent to 9.54 billion in mid-July 2022 from 11.75 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, the reserves held by NRB decreased by 15.1 percent to Rs 1056.39 billion in mid-July 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) increased 3.2 percent to Rs 159.41 billion in mid-July 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 23.6 percent in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15558', 'image' => '20220818012503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-18 13:24:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15816', 'article_category_id' => '1', 'title' => 'Trade Deficit Increases to Rs 1720.42 Billion', 'sub_title' => '', 'summary' => 'August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the export-import ratio increased to 10.4 percent in the review period from 9.2 percent in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review year, merchandise imports from India by paying convertible foreign currency amounted Rs 213.53 billion compared to Rs 190.54 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During 2021/22, merchandise exports increased by 41.7 percent to Rs 200.03 billion compared to an increase of 44.4 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and other countries increased 45.9 percent and 30.4 respectively whereas exports to China decreased 20.4 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of palm oil, woolen carpet, polyester yarn and thread, zinc sheet, juice, among others, increased whereas exports of soybean oil, cardamom, tea, medicine (ayurvedic), wire, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, merchandise imports increased by 24.7 percent to Rs 1920.45 billion compared to an increase of 28.7 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries increased 23.5 percent, 13.2 percent, and 36.3 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of petroleum products, medicine, crude palm oil, sponge iron, gold, among others, increased whereas imports of MS billet, cement, rice/paddy, pulses, medical equipment and tools, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur Customs Office decreased whereas exports from all other major customs points increased in the review year. On the import side, imports from all major customs points increased in the review year. </span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15557', 'image' => '20220818010018_Trade.jpg', 'article_date' => '2022-08-18 12:59:39', '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"">August 21: The government has decided to honour the mountaineers who set records by climbing all 14 peaks of the world above 8,000 meters including Mount Everest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Culture, Tourism and Civil Aviation Jeevan Ram Shrestha expressed his commitment to felicitate the record-keeping climbers with cash prize in recognition of their contribution to keep the country's image high. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">At a programme organized at Nepal Tourism Board in the honour of record-keeping mountaineers today, Minister Shrestha pledged to felicitate the climbers in recognition of their contributions. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The records of the climbers have enhanced the image of the country. The government would provide such people with cash prize," Minister Shrestha said, adding he would take ahead the process to honour the climbers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It may be noted that Nepal's record-keeping climber Sanu Sherpa had successfully scaled all 14 peaks of the world above 8,000 meters twice. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, parliamentarian from Nepali Congress (NC) Jeep Tzering Lama urged the state agencies to pay attention on social security aspects of climbers who have worked hard to keep the country's glory and prestige intact. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Nepal Mountaineering Association Chairperson Nimaguru Sherpa said record-keeping in mountaineering has helped Nepal establish its image across the globe. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another record-keeping climber Neema Gyaljen Sherpa said environment should be created for climbers to live a life with dignity and prestige. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Tourism Minster Shrestha has announced to provide his one-month salary to record-keeping climber Sanu Sherpa. Likewise, lawmaker Lama announced to provide mountaineer duo, Sanu and Nima, with a cash prize of Rs 100,000 each. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Mountaineer Neema has set a record after climbing all 14 peaks above 8,000 meters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the association honoured both the record-setting climbers. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'mountaineering,, record, climbing, government, Everest', 'description' => '', 'sortorder' => '15572', 'image' => '20220821101202_maxresdefault.jpg', 'article_date' => '2022-08-21 10:11:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15830', 'article_category_id' => '1', 'title' => 'EC Directs Governments not to Implement New Programmes', 'sub_title' => '', 'summary' => 'August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Election Commission (EC) has directed the federal, provincial and local governments not to implement Election Constituency Infrastructure Development Programme or other plans of similar nature as well as any new programme that had not been included in the budget. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The election commission issued the directive to all three tiers of the government not to execute such programme since the implementation of new programme that were not included in the budget would influence voters and affect election. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">EC Spokesperson Shaligram Sharma Poudel shared that the commission has directed the governments not to operate and implement any new programme and project apart from disaster risk reduction related activities, humanitarian support and necessary actions required for preventing health related pandemic. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'election, commission, plan, programme, new, budget, influence', 'description' => '', 'sortorder' => '15571', 'image' => '20220821100552_Election_Commission.2e16d0ba.fill-650x500.jpg', 'article_date' => '2022-08-21 10:04:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15829', 'article_category_id' => '1', 'title' => 'Paragliding in Phulchoki from October ', 'sub_title' => '', 'summary' => 'August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 21: The Ministry of Culture, Tourism and Civil Aviation has given permission to Phulchoki Adventure Pvt Ltd to operate commercial paragliding in the Phulchoki area on the southern outskirts of the Kathmandu valley. </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"">Currently, the Civil Aviation Authority of Nepal is working on the technical aspects of paragliding from Phulchoki towards Panauti, which falls outside the valley. </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"">Chabilal Humagain, chairperson of Phulchoki Adventure Pvt Ltd, told the state-owned RSS that preparations will be made for commercial flights after the release of operational instructions from the CAAN. </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"">Adventure sports in Nepal is likely to get a boost with the approval from the Tourism Ministry to carry out paragliding flights from Phulchowki to Kushadevi area of Panauti. </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"">A test flight of paragliding was conducted from Gurdumdanda three years ago during a tourism festival, according to RSS. On the occasion, 15 paragliders had conducted test flight for three days. The place for take-off, landing, air pressure, and other conditions were reported to be favorable for paragliding in the area. </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"">Humagain said that since it will take a month to complete all the procedures of paragliding operations, plans are afoot to start commercial flights from coming October. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to him, 10 paragliding companies have been allowed to fly daily from 10 am to 4 pm. Paragliders will take off from Gurdumdanda and land at Bancharetar in Kushadevi. The road distance from Gurdumdanda to Bancharetar is four kilometers. The take-off point is 2,350 meters above sea level while the landing point is 1,300 meters above sea level. </span></span></span></p> ', 'published' => true, 'created' => '2022-08-21', 'modified' => '2022-08-21', 'keywords' => 'paragliding, Phulchowki, Panauti, Kathmandu, Kushadevi, CAAN', 'description' => '', 'sortorder' => '15570', 'image' => '20220821100035_para.jpg', 'article_date' => '2022-08-21 09:59:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15826', 'article_category_id' => '1', 'title' => 'Interest on Loan Climbs to Almost 12 Percent', 'sub_title' => '', 'summary' => 'August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">August 19: The interest rate of loans issued by commercial banks has reached close to 12 percent. The interest on loans has increased after the banks increased interest on deposits due to liquidity crisis. As per Nepal Rastra Bank, the average interest rate on loans issued by commercial banks has reached 11.62 percent in mid-July 2022. The average interest on loans which was 8.43 percent in mid-July last year increased by 3.19 percentage points in just a year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">With lack of liquidity, banks increased the interest rate on savings to attract deposits, resulting in an increment of interest on loans as well. The average interest rate on deposit was 4.65 percent in mid-July 2021 which climbed to 7.41 percent in mid-July 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">After increasing the interest on savings, the base rate of banks also increased. The average base rate of commercial banks was 6.86 percent till mid-July last year. By the mid-July this year, it climbed to 9.54 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Banks fix the interest rate on loans by adding a certain percentage premium to the base rate. Due to this, when the base rate increases, the interest rate of bank loans also increases. Banks are allowed to adjust the interest rate based on the quarterly base rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">NRB intervened after there was an unhealthy competition between banks and financial institutions to attract deposits by raising interest rates amid to lack of liquidity. Last October, when the interest rate offered by commercial banks on deposits reached 12 percent, NRB gave a verbal instruction to keep the interest rate within single digit. By issuing a written instruction on October 20, NRB introduced a provision allowing banks to change the interest rate every month by 10 percent compared to the previous month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to that, the bankers were maintaining a stable interest rate as per the gentleman’s agreement among themselves. Nepal Bankers Association, the umbrella body of chief executive officers (CEOs) of commercial banks, Development Bankers Association, the organization of CEOs of development banks, and Nepal Finance Company Association, the organization of CEOs of finance companies, increased the interest rate by 10 percent in February even though they did not increase the interest rate in December and January. Interest rate has remained same since February because there was no increase in deposits despite the increase in interest rate.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Narayan Prasad Pokharel, deputy spokesperson of NRB says that the interest rate is regulated due to the policy adopted by NRB and the discipline of banks and financial institutions. “If the competition to increase the interest rate of the banks had continued, the interest on loans would have reached 18 percent by now,” said Pokharel.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the NRB allowed the banks to increase the interest rate by changing the policy rate on July 3 through the revision of the Unified Directive 2078, the banks had already decided not to increase the interest rate in August as well. Anil Kumar Upadhyay, president of Nepal Bankers Association, said that since there is no possibility of increasing the deposit rate, it was decided not to increase the interest rate immediately.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Since February, banks are implementing the agreement to provide a maximum interest rate of 11.03 percent on personal deposits and 10.03 percent on institutional deposits. Similarly, the average interest rate of interbank transactions between commercial banks increased from 4.12 to 6.99 percent during the same period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15569', 'image' => '20220819041657_Banks - Copy.jpg', 'article_date' => '2022-08-19 16:15:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15827', 'article_category_id' => '1', 'title' => 'Dusty Cargo to be Unloaded in Nepal from October', 'sub_title' => '', 'summary' => 'August 19: The homework of loading and unloading dusty cargo in Nepal has already started. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">August 19: The homework of loading and unloading dusty cargo in Nepal has already started. Until now, the loading and unloading of dusty cargo was taking place in the Indian border town of Raxaul. For the time being, preparations have been started to manage it at the Integrated Check Point (ICP) 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:"Arial","sans-serif"">Harihar Paudel, chief customs officer of Birgunj Customs, informed that for now, the homework has been done to unload the cargo at the ICP and bringing it directly to the dry port by rail in the long run. </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:"Arial","sans-serif"">Kamal Gyawali, Birgunj head of Nepal Intermodal Transport Development Committee, the regulator of ICP and the dry port, informed that preparations are being made to manage dusty cargo in Nepali territory from next October.</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:"Arial","sans-serif"">Gyawali also said that they are coordinating with the Birgunj Metropolitan City, local residents and concerned entrepreneurs.</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:"Arial","sans-serif"">Currently, dusty cargo such as coal, iron ore, slag coming from Indian Railways is unloaded in Raxaul. From there, it will be transported to the industry through the old Inerwa route of Birgunj. Industrial raw materials including iron blade, iron roll, salt and fertilizer are also unloaded in Raxaul. In the past, even clinker was unloaded in Raxaul and brought into Nepal. The loading and unloading of clinker was removed from there after locals protested that dusty cargo increased pollution.</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:"Arial","sans-serif"">Therefore, the demand for dusty cargo management in the within the country was raised. A team led by the then joint secretary of the Ministry of Industry, Commerce and Supply, Ravi Shankar Sainju, discussed with the concerned parties but could not come up with a solution. The Sainju-led team also studied the feasibility of such cargo management in the area around Birganj port. Finally, dusty cargo is being managed at the ICP.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15568', 'image' => '20220819045658_20190410102147_ICP-Birgunj-2.jpg', 'article_date' => '2022-08-19 16:56:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15828', 'article_category_id' => '1', 'title' => 'Extreme Weather Condition Grips Europe', 'sub_title' => '', 'summary' => 'August 19: Britain has temporarily banned the use of water from the Thames River.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Agencies</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:"Arial","sans-serif"">August 19: Britain has temporarily banned the use of water from the Thames River.</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:"Arial","sans-serif"">Citing unprecedented weather conditions, the public has been banned from using river water in London and the Thames Valley starting from next week. Industries have also been asked to use water carefully.</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:"Arial","sans-serif"">From August 24, river water cannot be used for cleaning cars, watering gardens, filling swimming pools and cleaning windows and doors. Demand for water in the UK has reached its highest level in 25 years due to extreme heat and drought. The water level in the rivers is also declining.</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:"Arial","sans-serif"">Amid such a situation, announcements are being made in Britain and Wales regarding the limited use of water. This July was the driest month in Britain since 1885. Last month, the temperature also rose above 40 degrees Celsius for the first time in history. Drought has been declared in many parts of the country.</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:"Arial","sans-serif"">Not only in Britain but half of Europe is in the grip of drought. There is an extreme shortage of water, agricultural areas have been destroyed, various restrictions have been imposed on the use of water. The problem of forest fires has become extreme and people's lives have started to be affected. For almost two months, there was no rain in western, central and southern Europe.</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:"Arial","sans-serif"">Water levels in rivers of Belgium, the Netherlands, Germany, France, Italy among others have receded significantly. This has affected both transportation and transshipment using waterways. </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:"Arial","sans-serif"">Rhine river is the largest waterway in the country. Concerned authorities have issued warning that the water level is likely to recede to unprecedented levels in coming days. </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:"Arial","sans-serif"">Water levels have also receded in rivers like Siene, Rhone and Loire in France and Po river of Italy as well as Escaut and Maas of Belgium. The river beds of those rivers are visible, according to media reports. It is possible to cross some of those rivers by walking across them at some points. This has caused trouble in operating boats and ships in those rivers. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15567', 'image' => '20220819075814_Untitled.jpg', 'article_date' => '2022-08-19 19:57:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15825', 'article_category_id' => '1', 'title' => 'PM Deuba Worried about Country Importing Foodstuffs ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has expressed concern over the country facing a situation where food items have to been imported from abroad. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister rued the inability to tap in the country's abundant potential to produce enough food items itself. </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"">"Despite the country having huge potential, importing foodstuffs including staple food like rice, wheat, corn and vegetables from foreign countries is a matter of concern. This has also increased the country's trade deficit," he said at a two-day seminar organised on Thursday jointly by the National Security Council Secretariat (NSCS) and Quarter Master General of the Nepalese Army on the topic of 'Situation of food security in Nepal'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">To end this situation, PM Deuba suggested that there should be access to food for all Nepali citizens by producing enough food within the country. The country is weak in the world in terms of food production despite more than two-thirds of the country's total population dependent on agriculture, he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister pointed to the traditional form of farming, lack of irrigation, fertilisers, hybrid seeds and workforce, land fragmentation and the market and unseasonal rain for the poor state of food production in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Rice cultivation during summer and autumn season under the Prime Minister Agriculture Modernisation Project launched by the government can help resolve problems related to food security," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Brigadier General of Nepalese Army Krishna Raj Acharya, who is also assistant coordinator for the NSCS, gave a presentation on the discussions and conclusions taken from papers presented by the Ministry of Agriculture and Livestock Development, the Ministry of Industry, Commerce and Supplies, the National Planning Commission and the Policy Research Institute. The session aimed to assess and evaluate the current situation of food security of the country and make recommendations to the government accordingly.-- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15566', 'image' => '20220819022303_food.jpg', 'article_date' => '2022-08-19 14:22:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15823', 'article_category_id' => '1', 'title' => ' Experts Stress on Need to Explore New Possibilities for Export Promotion ', 'sub_title' => '', 'summary' => 'August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Stakeholders have called for exploring new possibilities for export promotion to narrow down the country's burgeoning trade deficit with India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a programme organised by the Province 1 chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) in Biratnagar on Thursday, the stakeholders and experts suggested that the government should work for innovative ideas to export agricultural and other goods in the Indian market and reduce the trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, central committee member of FNCCI Abinash Bohara said specific goods-focused policy is needed to end trade reliance on India. He added that export from Nepal to the third countries was a tough job amid such circumstances. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Bohara argued that agricultural sector should be industrialized and the private sector should work in partnership with the government for identification of new areas for trade promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central committee member of FNCCI and Province 1 Committee Vice-President Rajendra Raut urged the government to assist in processing of agricultural goods adding that there is a good prospect for exporting ginger and fruits from Nepal to India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Presenting a paper during the programme, former Secretary at the Ministry of Commerce and Supplies Purushottam Ojha said protection of small and medium enterprises (SMEs), coordination among all sides and a centralised policy could be instrumental in production growth and export promotion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the programme, former member of the National Planning Commission and Chairman of South Asia Watch on Trade, Economics and Environment (SAWTEE) Posh Raj Pandey said Nepal should benefit from the provision of zero-tariff on export of agricultural goods. Pandey was of the view that new areas of productions and identification of new goods should be in place to reduce the country's trade deficit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Province 1 President of FNCCI Tikaraj Dhakal and Chief of Agriculture Knowledge Centre, Sunsari, Nil Kamal Singh also expressed their views on diversification of crops to decrease trade deficit and earn foreign exchange. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15565', 'image' => '20220819110523_export.jpg', 'article_date' => '2022-08-19 11:04:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15824', 'article_category_id' => '1', 'title' => 'Investment Board Signs MoU with Indian Company for Feasibility Study of West Seti Project', 'sub_title' => '', 'summary' => 'August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: The Investment Board Nepal has signed an agreement with an Indian company, NHPC, for the feasibility study of the 750 MW West Seti and 450 MW Seti River-6 hydropower projects. </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"">Chief Executive Officer of the Investment Board Nepal Sushil Bhatt, and AK Singh, CMD of the Indian company NHPC signed the Memorandum of Understanding on Thursday in the presence of Prime Minister Sher Bahadur Deuba. </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"">Finance Minister Janardhan Sharma, Minister for Energy, Water Resources and Irrigation Pampha Bhusal, Minister for Industry, Commerce and Supplies Dilendra Prasad Badu, Minister for Forest and Environment Pradeep Yadav, Chief Minister of Sudurpaschim Province Trilochan Bhatt among others were also present during the programme.</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"">As per the agreement, the Indian company will have to file an application seeking license for survey of West Seti Hydropower Project within 45 after signing the MoU and that of Seti River-6 within 6 months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The company will have to prepare the Detailed Project Report within two years after acquiring the survey license.</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"">During Thursday’s signing ceremony, the Investment Board and the Indian company also published their respective white papers that included the background, electricity production capacity, transmission and availability of electricity market among other issues.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The MoU also highlights past efforts to develop the project, project development modality and the latest development in the project. </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"">Addressing the signing ceremony, Prime Minister Sher Bahadur Deuba urged the concerned agencies to complete the project on time, which has been in discussion for 40 years. He also expressed his belief that the hydropower projects would contribute significantly to the socio-economic development of Sudur Paschim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also assured to extend all kinds of support from the government for the project development as it is making maximum efforts to create an investment-friendly environment in the country.</span><br /> <br /> </span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15564', 'image' => '20220819115309_RoS-KTM-PMDeubah.jpg', 'article_date' => '2022-08-19 11:52:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15822', 'article_category_id' => '1', 'title' => 'PM Deuba Urges Women to Explore Opportunities in Entrepreneurship ', 'sub_title' => '', 'summary' => 'August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 19: Prime Minister Sher Bahadur Deuba has assured that the government is ready to lend support required for the promotion and marketing of products manufactured with the use of domestic raw materials and homegrown technologies and skills. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The prime minister made such remarks while inaugurating the "Sixth International Women's Trade Expo" organised by the Federation of Woman Entrepreneurs' Associations of Nepal in Lalitpur on Thursday.</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"">On the occasion, the prime minister insisted on the need to promote goods and services based on homegrown skills and technologies, as well as on promoting the market for such products. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba was of the view that the trade fair featuring the skills of women entrepreneurs would help promote export business of the country, contributing to the protection and sustainability of small and medium-scale industries run by Nepali women. In addition to this, it would be helpful for promoting women entrepreneurship, excelling their skills in the related field, diversifying their services and products, and expanding market for their efforts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He urged the women’s community to explore opportunities in the area of entrepreneurship with the maximum utilization of locally-available resources to become economically self-reliant and empowered. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"The expo will be an inspiration for women to pursue a career as entrepreneur, contributing to the enchantment of women employment, self-employment and to the nation's economy. I hope the expo for publicity, sale promotion and marketing of goods and services produced by women entrepreneurs will help expand the network and connection of the entire Nepali women entrepreneurs and provide them a platform for the exchange of business ideas and skills," the head of the government said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The interactions among entrepreneurs and exchange of information during the expo will be helpful in consolidating business collaboration, coordination and the relations, and this also help in the promotion of Nepali products, said Deuba. He further said that the expo will be an inspiration for foreign investors to explore opportunities in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said he is happy knowing that the products produced by women entrepreneurs of different districts of all seven provinces including Kathmandu Valley based on traditional skill from local means and resources would be kept on display in the expo. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"I am very happy knowing that women entrepreneurs from remote districts including Jumla, Humla, Dadeldhura and Taplejung have been participating in the expo and that they have brought their production to keep in display," shared PM Deuba. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stating the contribution of private sector is very significant to make the economy dynamic, he mentioned that the private sector has been playing a leading role in creating employment and helping to increase gross domestic product of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba pointed out the need for the government and private sector to move ahead through coordination and collaboration. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FWEAN President Neeru Rayamajhi (Khatri) urged the government to pay attention towards women entrepreneurs’ capacity building, financial management and market promotion as well as to construct local infrastructure for market management of local production. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A total of 109 stalls of agriculture, handicraft, service, food stuffs as well as production of international entrepreneurs have been kept on display in the expo. Expo coordinator Shova Gyawali said that 55,000 visitors are expected to observe the expo and transaction worth Rs 20 million has been estimated. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-19', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15563', 'image' => '20220819105318_IMG-20220818-WA0007.jpg', 'article_date' => '2022-08-19 10:52:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15820', 'article_category_id' => '1', 'title' => 'Nepal and Britain to Sign Labour Pact on Monday ', 'sub_title' => '', 'summary' => 'August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 18: The Government of Nepal is all set to sign a memorandum of understanding (MoU) with the UK on coming Monday for the supply of health workers. According to the state-owned national news agency RSS, the MoU will be signed in Britain. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the Ministry of Labour, Employment and Social Security, Ek Narayan Aryal and British ambassador to Nepal, Nicola Pollitt would sign the MoU on behalf of their respective countries, the ministry said in a statement. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the Council of Ministers on June 14 had approved the labour pact related to sending human resources in the health sector from Nepal to the United Kingdom. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-19', 'keywords' => '', 'description' => '', 'sortorder' => '15561', 'image' => '20220818032427_Flag-Pins-Nepal-Great-Britain_600x600.jpg', 'article_date' => '2022-08-18 15:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15819', 'article_category_id' => '1', 'title' => 'Remittance Inflow tops Rs 1000 Billion during Last Fiscal Year', 'sub_title' => '', 'summary' => 'August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.', 'content' => '<p><span style="font-size:18px">August 18: Inflow of remittance in the country increased by 4.8 percent in the last fiscal year compared to 9.8 percent in the previous year, according to the latest report of Nepal Rastra Bank.<br /> The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the remittance inflow in the review year (FY 2021/22) was Rs 1007.31 billion<br /> Similarly, the report further said that the number of Nepali workers taking approval for foreign employment increased significantly to 354,660 in the review year. The number includes new workers seeking labour permits included through institutional and individual basis.<br /> People seeking foreign employment in the previous year (FY 2020/2021) had decreased by 62.8. Meanwhile, the number of Nepali workers seeking renew entry for foreign employment increased by 198.5 percent to 282,453 in the review year. It had decreased by 46.8 percent in the previous year.<br /> According to the NRB report, net transfer increased by 4.3 percent to Rs 1117.88 billion in the review year. Such a transfer had increased 9.1 percent in the previous year.</span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15560', 'image' => '20220818032318_Remittance.jpg', 'article_date' => '2022-08-18 15:21:56', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15818', 'article_category_id' => '1', 'title' => 'NEA Marks 37th Anniversary', 'sub_title' => '', 'summary' => 'August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">August 18: Nepal Electricity Authority celebrated its 37th anniversary by organising a special ceremony in Kathmandu on Wednesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Addressing the ceremony, the executive director of the authority, Kulman Ghising, informed that currently about 96 percent of people are receiving electricity services and 42 districts are fully provided with electricity. He said that the authority is working day and night to fulfill the government's goal of providing 100 percent electricity service to the people within the next two years. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director Ghising said that in its 35-year history, the authority for the first time made a profit of Rs 16.16 billion in the last year and said that this would continue to increase.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">“With the addition of a total of 735 megawatts of electricity to the national grid last year, including electricity produced by the authority's solar plant, we have reached a situation where we can produce more electricity than the demand during the rainy season,” said Ghising, adding, “We have been able to sell about 400 MW of electricity daily through competitive bid in the Indian Energy Exchange market from the 400 KV Dhalkebar-Muzaffarpur transmission line after receiving permission from the Government of India to export 364 MW of electricity.”</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Ghising also informed that the leakage of electricity has reduced to 15.38 percent, which was 25.78 percent 6 years ago. The authority completed the construction of 16 substations and put them into operation in the fiscal year 2078/79. Ghising said that grid substations of 1383 MVA capacity have been completed and already put into operation.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">On the occasion of the anniversary, 15 employees and 17 subordinate offices were awarded and honored for their excellent work.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15559', 'image' => '20220818025947_NEA.jpg', 'article_date' => '2022-08-18 14:59:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15817', 'article_category_id' => '1', 'title' => 'Current Account and Balance of Payments in Deficit', 'sub_title' => '', 'summary' => 'August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s current account remained at a deficit of Rs 623.33 billion during Fiscal Year 2021/22 compared to a deficit of Rs 333.67 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank, capital transfer decreased 34.5 percent to Rs 9.99 billion and net foreign direct investment (FDI) decreased 4.9 percent to Rs 18.56 billion in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the previous year, capital transfer and net FDI amounted to Rs 15.26 billion and Rs 19.51 billion respectively, states the Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the Balance of Payments (BOP) remained at a deficit of Rs 255.26 billion in the review year against a surplus of Rs 1.23 billion in the previous year. In the US dollar terms, the BOP remained at a deficit of 2.14 billion in the review year compared to a deficit of 3.1 million in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Gross foreign exchange reserves decreased by 13.1 percent to Rs 1215.80 billion in mid-July 2022 from Rs 1399.03 billion in mid-July 2021, the report further stated. In the US dollar terms, the gross foreign exchange reserves decreased 18.9 percent to 9.54 billion in mid-July 2022 from 11.75 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, the reserves held by NRB decreased by 15.1 percent to Rs 1056.39 billion in mid-July 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) increased 3.2 percent to Rs 159.41 billion in mid-July 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 23.6 percent in mid-July 2022.</span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15558', 'image' => '20220818012503_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-08-18 13:24:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15816', 'article_category_id' => '1', 'title' => 'Trade Deficit Increases to Rs 1720.42 Billion', 'sub_title' => '', 'summary' => 'August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 18: Nepal’s trade deficit increased by 23.0 percent to Rs 1720.42 billion in the last fiscal year. According to Nepal Rastra Bank, such a deficit had increased 27.3 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report released by the central bank on Tuesday states that the export-import ratio increased to 10.4 percent in the review period from 9.2 percent in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review year, merchandise imports from India by paying convertible foreign currency amounted Rs 213.53 billion compared to Rs 190.54 billion in the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During 2021/22, merchandise exports increased by 41.7 percent to Rs 200.03 billion compared to an increase of 44.4 percent in the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, exports to India and other countries increased 45.9 percent and 30.4 respectively whereas exports to China decreased 20.4 percent. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, exports of palm oil, woolen carpet, polyester yarn and thread, zinc sheet, juice, among others, increased whereas exports of soybean oil, cardamom, tea, medicine (ayurvedic), wire, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, merchandise imports increased by 24.7 percent to Rs 1920.45 billion compared to an increase of 28.7 percent a year ago. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Destination-wise, imports from India, China and other countries increased 23.5 percent, 13.2 percent, and 36.3 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Imports of petroleum products, medicine, crude palm oil, sponge iron, gold, among others, increased whereas imports of MS billet, cement, rice/paddy, pulses, medical equipment and tools, among others, decreased in the review year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Kanchanpur Customs Office decreased whereas exports from all other major customs points increased in the review year. On the import side, imports from all major customs points increased in the review year. </span></span></p> ', 'published' => true, 'created' => '2022-08-18', 'modified' => '2022-08-18', 'keywords' => '', 'description' => '', 'sortorder' => '15557', 'image' => '20220818010018_Trade.jpg', 'article_date' => '2022-08-18 12:59:39', '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
