August 3: Deposit collection of commercial banks have declined by Rs 91 billion in a period of just two…
August 3: Deposit collection of commercial banks have declined by Rs 91 billion in a period of just two…
August 3: The government had initiated the process of establishing a tea auction market around eight years ago.…
August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the industrial land lease rate of all 10 industrial estates.…
August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange…
August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project…
August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan…
August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government.…
August 2: The weather across the nation is likely to improve from…
August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and…
August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the…
August 2: The government is preparing to change the hydropower development modality in the near future.…
August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting…
August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the…
August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel…
August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons.…
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According to the data released by the Nepal Bankers Association on Tuesday, both the bank deposits and credit disbursement of commercial banks have declined since mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, their total deposits were Rs 45.41 trillion in mid-June, which dropped to Rs 44.50 trillion by July 29. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, deposit collection of commercial banks decreased by Rs 64 billion in the second week of July and by Rs 28 billion in the third week. Prior to that, the deposits of banks had increased by about Rs 1.5 billion till mid-July. By mid-June, total deposits of banks stood at Rs 44 trillion, which reached Rs 45.41 trillion by mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson of Nepal Rastra Bank Dr. Gunakar Bhatt says, “After mid-July, a large amount of money was deducted from the banking system when Nepal Oil Corporation paid the amount of oil purchase to the Indian Oil Corporation (IOC). The deposits of commercial banks decreased when the Nepal Oil Corporation paid the amount to the Indian Oil Corporation (IOC) in the third week of July. Deposits may also have declined as the government issued cheques to pay builders by mid-July.” He believes that this amount will get back to the banking system gradually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the third week of July, NOC took a loan from the government and paid Rs 16.80 billion to the IOC. Bhatta estimates that when NOC withdrew a large amount of money at once, the deposits of the commercial banks decreased significantly. Similarly, after the start of the new fiscal year, some of the budgets that could not be spent by the local bodies were returned to the state coffers, resulting in the decline in the deposits of the commercial banks. Along with the deposits, the investment of the banks has also decreased. As per the association, since mid-July, the banks' credit flow decreased by Rs 11 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">By mid-July, the total credit disbursement of commercial banks was Rs 41.75 trillion, which decreased to Rs 41.64 trillion as of July 29. Due to the lack of liquidity, banks recently stopped loan investment and emphasized on recovery. According to the association, the average credit-to-deposit ratio of banks remained at 87.98 percent on July 29.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15477', 'image' => '20220803054019_Banks - Copy.jpg', 'article_date' => '2022-08-03 17:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15736', 'article_category_id' => '1', 'title' => 'Eight Years on, Concept of Tea Auction Market Limited to Papers in Nepal', 'sub_title' => '', 'summary' => 'August 3: The government had initiated the process of establishing a tea auction market around eight years ago. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 3: The government had initiated the process of establishing a tea auction market around eight years ago. However, the government is yet to implement the concept. The government had even allocated budget for setting up the auction market and a lab for testing the quality of tea. Experts believe that the tea produced in Nepal will get a good place in the international market if such an auction market is set up. However, there has not been any tangible efforts in establishing the auction market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The concept of auction market has been making rounds since the last thirteen years. It was eight years ago that a committee headed by tea producer Suresh Mittal was formed to set up an auction market. The then section officer of the National Tea and Coffee Development Board Indra Adhikari was the member secretary of the committee. The committee had prepared ‘guidelines’ for the auction market and also set up a lab in Jhapa and required software with an investment of Rs ten million provided by the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">There were plans to include all the tea producers of Nepal in the auction market. As per the plan, all the tea industrialists were also affiliated to the auction market. However, the auction market is yet to function. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dilliram Baskota, general secretary of the Himalayan Orthodox Tea Producers Association, says that the auction market would have been set up years ago if the concerned parties had worked as per their commitment. Both the government and the industrialists need the auction market, says Baskota. However, the auction market has not come into operation due to the stance of both the sides.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Both the government and the industrialists have been blaming each other for the delay in operation of the auction market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of the National Tea and Coffee Development Board Dr Deepak Khanal says that the auction market could not be operated due to the stance taken by the industrialists after all the required infrastructure was ready. According to Khanal, the tea producers declined to join the auction market until their demand to seek bank loan by keeping the tea in warehouse as collateral was fulfilled. They also demanded grant from the government for exporting tea. The board tried to address the demands of the tea producers through the Ministry of Agriculture to failed to do so.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the tea producers blamed the government for not fulfilling their demands. They also accuse the government of dilly-dallying in bringing the auction market into operation fearing that the transaction of the market would be transparent. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Once the auction market comes into operation, all the transactions will be transparent. The government fears that the transactions of the state-owned tea garden will also become transparent. Therefore, the government does not want to operate the auction market,” said an industrialist requesting anonymity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Tea auction is the process of selling tea through software using a common platform where the tea producers and businessmen from within the country and abroad will have access. The software will have information about the price and samples of various brands of tea. The dealers can make online order for tea from overseas. This auction market started in the UK and entered the Indian market in the <span style="font-family:"Arial Unicode MS","sans-serif"">1980s. However, it is still not certain whether Nepal will implement it or not.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15476', 'image' => '20220803041253_Tea.jpg', 'article_date' => '2022-08-03 16:12:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15735', 'article_category_id' => '1', 'title' => 'Industrialists Unhappy about Hike in Rental Charge of Industrial Estates', 'sub_title' => '', 'summary' => 'August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the industrial land lease rate of all 10 industrial estates. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the rental charge of all 10 industrial estates. The Confederation of Nepalese Industries (CNI) has requested the government to withdraw the decision immediately, stating that the investment in the country's industry will be affected due to the increase in rate. The CNI argued that the increment has discouraged the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A sub-committee on fares, tariffs and service charges formed by IDM had recommended the new fares to be effective from 17 July 2018. The industrialists had expressed their displeasure during that time after the maximum annual charge for using the industrial areas was increased by 687 percent. After that, the then Minister for Industry instructed the concerned bodies not to implement this provision. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Khadka, information officer of IDM, said that now the IDA has started writing to the industries to comply with the same provision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI has been asking for an immediate refund of the increased rental charge in the industrial sector to create a conducive environment. CNI made this request after meeting Minister for Industry, Commerce and Supplies Dilendra Prasad Badu on Tuesday. A team led by the Acting President of the Confederation, Krishna Prasad Adhikari met Industry Secretary Arjun Prasad Pokharel and asked IDM to give continuity to the previous provision of rental charge . A meeting of IDM held on June 6, 2021 had decided to collect the additional charges that were due since July 17, 2018.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The CNI expressed objection stating that IDM has been seeking demand charge for stored equipment, collecting fees even for the water extracted through boring by the industries themselves and raising the rent of the land in an unwanted manner. The executive chairman of the federation said that the industries cannot bear the increase in rent from 98 percent to 687 percent until the industries affected by Covid-19 are able to recover. He urged the concerned authorities to create a conducive working environment by quickly solving the problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The acting presiding of CNI also pointed out the need for restructuring the IDM. He argued that the decision of IDM will result in the collapse of existing industries and the country's dream of import substitution and export promotion through the promotion of manufacturing and industrial sectors will not be fulfilled.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI informed that the IDM has denied extending contract period of land and also refused to issue recommendation letter for the industries to apply for bank loans in case they did not pay the new rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minister Badu expressed his commitment to find a long-term solution after discussion with IDM. IDM has set different rates for manufacturing and non-manufacturing industries. Depending on the industrial sector, the rental fare is less or more.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15475', 'image' => '20220803025853_Industrial-Policy.jpg', 'article_date' => '2022-08-03 14:58:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15734', 'article_category_id' => '1', 'title' => 'PM Deuba Tells Ministers, Secretaries to Reduce Unnecessary Expenses', 'sub_title' => '', 'summary' => 'August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.</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 a meeting at the Office of the Prime Minister and Council of Ministers in Singh Durbar on Tuesday, he urged the ministers and secretaries not provide vehicle facilities and fuel to employees or other officials except those who are entitled to receive such facilities.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also instructed the ministers and secretaries to work towards making the country become self-sufficient in vegetables and fruits within six months and self-reliant in food within one year. He directed all the ministries to make plans and work towards increasing electricity consumption and promoting exports. </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"">Similarly, PM Deuba said that consumption of the petroleum products should be gradually reduced while increasing consumption of hydroelectricity and directed the line agencies to introduce concrete plan of action for increasing consumption of hydroelectricity. </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"">Stating that the entire strength and vigour should be devoted for economic progress, social transformation and good-governance, the PM said the bottlenecks of development should be resolved through policy and institutional reforms by identifying those issues on time. </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, PM Deuba directed the ministers and secretaries to bring about positive changes in the service delivery to achieve good results through enhancement of the implementation capacity. </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 the meeting, PM Deuba said COVID-19 has had serious impact on our economic and social activities and our economy has witnessed external sector's pressure leading to challenges in all sectors of the economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"But, the situation is not so worrisome. Growth in the recurrent expenditure should be controlled by strengthening policy implementation and regulation side. We should work to control inflation and ensure investment in the productive sector," the PM said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge of the time is to maintain economic stability and gradually bring reforms in the key indicators of economy, PM Deuba said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, PM Deuba urged all to speed up implementation of the development projects to contribute to SDGs target, and Nepal's graduation from the least developed country (LDC) by 2026. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15474', 'image' => '20220803100737_image_6483441.JPG', 'article_date' => '2022-08-03 10:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15732', 'article_category_id' => '1', 'title' => 'Chinese High Court Rules in Favour of Nepalese Banks', 'sub_title' => 'Court Orders Chinese Bank to Refund Counter Guarantee Amount to BoK and Himalayan Bank', 'summary' => 'August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).', 'content' => '<p><span style="font-size:16px">August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).</span></p> <p><span style="font-size:16px">Following the high court order, the two banks of Nepal are all set to receive more than one and a half billion rupees for the counter guarantee of the project.</span></p> <p><span style="font-size:16px">CEO of BoK Shrawan Maskey confirmed that the Chinese high court ruled in their favour and expressed happiness about the prospect of receiving the money.</span></p> <p><span style="font-size:16px">“We have received information that we won the court case in China,” said Maskey, adding, “Now we will move ahead to claim the amount.”</span></p> <p><span style="font-size:16px">BoK and Himalayan Bank had provided counter guarantee of USD 66,25,010 and USD 14,11,453 respectively to China Railway which was assured the bank guarantee for the MWSP by the China Construction Bank.</span></p> <p><span style="font-size:16px">MWSP had terminated the contract with China Railway after it failed to undertake the project as per the agreement. MWSP then filed a case in the Chinese court seeking the guarantee amount. The Chinese court ruled that although the Nepalese banks had provided the guarantee amount to the project, they were yet to receive the counter guarantee amount from the Chinese bank.</span></p> <p><span style="font-size:16px">Earlier, China Railway had pleaded in the court that it the China Construction Company is not liable to pay the counter guarantee amount to the Nepalese banks. The two banks of Nepal then sent their representatives to China and fought a legal battle in the high court. CEO Maskey is hopeful of receiving the amount following the high court verdict.</span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => 'bank, guarantee, BoK, Himalayan, China, Railway, Construction, Melamchi, court, case, high', 'description' => '', 'sortorder' => '15473', 'image' => '20220803094438_istockphoto-900791430-612x612.jpg', 'article_date' => '2022-08-03 09:42:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15731', 'article_category_id' => '1', 'title' => 'Supreme Court Rejects Writ Petition against Finance Minister', 'sub_title' => '', 'summary' => 'August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court Administration rejected the writ petition filed by the Consumer Interest Protection Forum demanding a high-level investigation against Finance Minister Sharma for his alleged role in allowing unauthorized persons to become part of the budget making process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of the Supreme Court Narayan Prasad Panthi said that the writ petition was rejected as it was brought without completing the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15472', 'image' => '20220803085524_Supreme Court.jpg', 'article_date' => '2022-08-03 08:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15730', 'article_category_id' => '1', 'title' => 'Industrial Meet Kicks off in Madhesh Province ', 'sub_title' => '', 'summary' => 'August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. T', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. The industrial meet is underway in collaboration with Skills Enhancement for Employment Project (SEEP). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Minister of Madhes Province, Lal Babu Raut, Finance Minister of Madhes Province Shailendra Prasad Saha, province minister for land management, agriculture and cooperatives Bijaya Yadav, province minister for industry, tourism and forests Shatrughan Mahato, British ambassador to Nepal Nicola Pollitt, chief secretary of Madhes province Krishna Bahadur Raut attended the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some 100 industrialists from the province are participating in the province-level industrial meet that concludes on Wednesday. Group and thematic discussions will be held regarding the steps to be taken for economic growth in the coming days. The meet will also review the progress of economic growth and reform measures to be undertaken in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the province government awarded 23 industries contributing to enhancing employment and economic growth of the province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15471', 'image' => '20220802033714_Industries.jpg', 'article_date' => '2022-08-02 15:36:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15729', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve from Wednesday ', 'sub_title' => 'Light to moderate rain likely at many places of country today ', 'summary' => 'August 2: The weather across the nation is likely to improve from Wednesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The weather across the nation is likely to improve from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather would improve from Wednesday as there is a possibility of the low pressure system moving towards India, weakening the monsoon, says meteorologist at the Department of Hydrology and Meteorology, Manju Basi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rainfall has been taking place in most of the places of the country since the past few days. </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 weather is generally to mostly cloudy throughout the country today with chances of light to moderate rain accompanied by thunder and lightning at many places, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are chances of heavy rainfall in a few places of Province 1, Madhesh Province, Bagmati Province, Gandaki Province and Lumbini Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be partly to generally cloudy throughout the country. Light to moderate rain with thunder and lightning has been forecast at some places of the country with the possibility of heavy rain with thunder and lightning at one or two places of Bagmati Province, Gandaki Province, Lumbini Province, Karnali Province and Sudur Pashchim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the meteorological analysis of the division, the axis of monsoon trough at present is slightly towards north from the normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Monsoon which has been active since the past few days is likely to become weaker from Wednesday, resulting in improvement in weather condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15470', 'image' => '20220802032218_imgbiyP8PyF.jpg', 'article_date' => '2022-08-02 15:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15728', 'article_category_id' => '1', 'title' => '26K Tons of Maize Released from Ukraine Port', 'sub_title' => '', 'summary' => 'August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The agreement was signed a few weeks ago with the mediation of the United Nations and Turkey. According to the officials of Turkey and Ukraine, the ship holding the flag of Sierra Leone left the southern port of Odessa on Monday morning.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exports of food and grains from Ukraine came to a halt after Russia began its invasion of Ukraine on February 24. As a result, the supply of wheat, soybean, corn and other grains was affected worldwide and the prices surged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With this, there is a hope that the global food crisis will come to an end and the price of grains will go down again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Joint Cooperation Center (JCC) established in Istanbul, the ship is carrying about 26,000 tons of corn as per the agreement. The ship is expected to arrive in Turkish waters for inspection on Tuesday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ukraine's Minister of Infrastructure Oleksandr Kubrakov wrote in a Facebook post that Ukraine will earn at least USD 1 billion in foreign exchange from grain export after the export from the port is allowed, and this will provide an opportunity for planning in the agricultural sector in the coming year. He also said that 16 ships are waiting to export grain from Odessa in the coming weeks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, a grain export agreement was signed between Russia and Ukraine for 120 days. As per the information, if both parties agree, then the term of the agreement can be extended. As the Ukrainian grain could not be exported, the price of bread, pasta and other foods made from wheat became more expensive across the globe. Besides, the price of edible oil and fertilizer also surged in the world market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the agreement, Russia will not target the port while the grain is being transported on the ship or in the waterway. Turkey will inspect the ship to ease Russia's suspicions of weapon smuggling on board. Grain will be exported from the ports of Odessa, Chornomorsk and Pivdenne in southern Ukraine.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15469', 'image' => '20220802023107_ukraine.jpg', 'article_date' => '2022-08-02 14:30:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15727', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Strict Policy in Registering Cooperatives', 'sub_title' => '', 'summary' => 'August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Submitting the annual report of the fiscal year 2020/2</span></span><span style="font-size:10.5pt"><span style="font-family:"Arial","sans-serif"">1</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> to the Minister for Land Management, Cooperatives and Poverty Alleviation, Shashi Shrestha, the committee suggested the government to adopt strict measures while registering the cooperatives in order to curb the haphazard registration.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">All the three tiers of governments are doing everything from registration to regulation of cooperatives, which fall under the common jurisdiction of the federal, state and local levels. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the registration of savings and credit cooperatives have been stopped at the federal level, the state and local levels are still registering them except the Bagmati state government which closed the registration of savings and credit cooperatives some time ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee pointed out that cooperatives are not being operated as it should be and the institutions have become problematic due to non-compliance with the laws and regulations related to the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee suggests that effective implementation of laws related to the cooperatives as well as promotion of good governance in cooperatives is necessary to avoid problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the committee mentioned that the public trust in cooperatives can be increased only if they follow basic principles such as encouraging the process of merger between cooperatives with similar objectives, operating cooperatives with a strategy to reach the underprivileged, and operating in such a way that good governance is fully guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Receiving the report of the committee, Minister Shrestha emphasized that all parties should be involved in making cooperatives accountable. She mentioned that the ministry has emphasized on a cooperative campaign and developing a self-sufficient economy by linking it with production. Explaining that the cooperatives are the backbone of economic development, Minister Shrestha urged the cooperatives to become member-oriented and professional.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15468', 'image' => '20220802015543_cooperative problematic.jpg', 'article_date' => '2022-08-02 13:55:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15726', 'article_category_id' => '1', 'title' => 'Government Preparing to Change Hydropower Development Modality', 'sub_title' => '', 'summary' => 'August 2: The government is preparing to change the hydropower development modality in the near future. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 2: The government is preparing to change the hydropower development modality in the near future. The government is planning to increase production of hydropower energy by adopting a flexible policy based on the feasibility of hydropower development projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the government will remain open towards the design of hydropower projects and will not impose any preconditions and limitations on it. It is believed that the hydropower projects will be able to generate more electricity by maximum utilization of water once the government lifts the restrictions on limitation and removes preconditions for developing hydropower projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower projects under the existing Q-40 modality are required to prepare the design while constructing the hydropower plants. There is a possibility of wastage of water under this modality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former energy secretary Anup Upadhyay says that the lower the Q level is while increasing the capacity of the project, the wastage of water will be less. If the provision of Q-40 is removed, the developers can adopt a modality to increase production while designing the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already removed the provision of designing the semi-reservoir projects (PROR) under the Q-40 model. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of Nepal Electricity Authority on June 18 had decided to remove the provision of Q-40 for semi-reservoir projects. Such projects are now required to produce up to 70 percent energy of their installed capacity during rainy season and 30 percent during dry season. This provision was removed only for semi-reservoir based projects but will soon be implemented for reservoir-based hydropower projects as well. Minister for Energy, Hydropower and Irrigation Pampha Bhusal says that the government is holding extensive discussions about this topic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a programme organized in the capital on Sunday, Minister Bhusal said that the Government of Nepal is in favour of removing the provision of ‘Q’ considering its impact on climate change globally.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Bhusal said that the government is also preparing to open power purchase agreement of ROR projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Independent Power Producers Association of Nepal (IPPAN) is also positive about the government’s decision to remove the provision of ‘Q’. IPPAN is of the view that the existing provision has been causing a loss in production capacity of hydropower projects. IPPAN insists that the Q-40 provision is a hindrance to optimal use of hydropower projects and has urged the government to remove it for all kinds of projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to IPPAN President Krishna Acharya, hydropower projects in neighbouring India and Bhutan are built under Q-20 to Q-25 models while Sri Lanka has adopted a policy to develop such projects under the Q-20 model.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, Nepal has a provision of Q-40 which is not practical,” says Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argues that the government can check the quality and standard of hydropower projects but should not set unnecessary preconditions on production limits.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15467', 'image' => '20220802010355_hydro.jpg', 'article_date' => '2022-08-02 13:03:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15725', 'article_category_id' => '1', 'title' => 'Rain Damages Araniko Highway Affecting Transportation ', 'sub_title' => '', 'summary' => 'August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation. </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 a result, trucks and containers heading to China through Tatopani have been stranded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of the damaged road has started in coordination with the Department of Roads, informed the local police. </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"">Deputy Superintendent of Police Dakshya Kumar Basnet, information officer for the District Police Office, Sindhupalchowk, however said that transportation of small and light vehicles has been allowed. Tatopani is one of the two major trading points with China. However, supply of goods through this customs point has been irregular since the devastating earthquake seven years ago and the onset of coronavirus pandemic around two years ago. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15466', 'image' => '20220802120609_Tatopani.jpg', 'article_date' => '2022-08-02 12:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15724', 'article_category_id' => '1', 'title' => 'Labour Minister Insists on Accommodating Aspiring Workforce within the Country ', 'sub_title' => '', 'summary' => 'August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of the Industry, Commerce, Labour, and Consumers Welfare Committee, of the House of Representatives on Monday, the minister said aspiring domestic workforce should be encouraged to explore work opportunities within the country. The meeting focused on issues concerning foreign employment and labour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that Nepal has been a good labour market for the people from India while Nepali workers go abroad seeking employment opportunities. It is necessary to make the workers here aware that they can find a labour market within the country and it could pay them as equally as the foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He insisted on sending only the people with adequate skills to foreign jobs, suggesting for the management of domestic workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Bimal Shriwastav was of the opinion of creating jobs for domestic workforce. He shared that during a monitoring of a steel industry, it was found that the number of workers from India was double than that of domestic workers and the scenario suggested the possibility of managing probable workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the labour ministry, Eknarayan Aryal said the ministry is working to promote internal labour market and at present, 145,113 are employed under the Prime Minister Employment Programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director General of Department of Labour and Occupational Safety, Umakant Acharya, industrialists said they preferred workforce from outside the country as they performed more responsibly than domestic workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at the Department of Foreign Employment Shesh Narayan Paudel said there was a drop in number of Nepali nationals going abroad for jobs during the peak of COVID-19 pandemic and the figure had started going up with the slowdown in infection rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Paudel, 642,000 people went for foreign employment in the fiscal year 2016-17 and this figure dropped to 166,000 during FY 2020-21 and it rose to 621,000 last fiscal year (FY 2021-22). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15465', 'image' => '20220802114329_1634599881.4.jpg', 'article_date' => '2022-08-02 11:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15721', 'article_category_id' => '1', 'title' => 'IOC Lowers Fuel Prices, Will NOC Slash the Prices?', 'sub_title' => '', 'summary' => 'August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received by the state-owned oil company of Nepal on Monday, the price of petrol has been reduced by Rs 16. 80 per litre. Likewise, the price of diesel and kerosene has been reduced by Rs 12. 45 per litre.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On July 15, IOC had reduced the price of petrol by Rs 15. 76 and diesel by Rs 16. 56 per litre. However, NOC is yet to adjust the price of petroleum products stating that it is still in internal loss despite the reduction in price list sent by the IOC. The NOC has not yet made its views public regarding whether it will lower the price of fuel or not.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NOC insists it is still bearing a loss of Rs 14.19 on a litre of petrol and a loss of Rs 21. 92 per litre of diesel/kerosene.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The IOC reduced the price of petroleum products after a decline in fuel prices in the international market. The price of Brent crude oil in the international market currently stands at USD 103 per barrel.</span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15464', 'image' => '20220801041923_1659345984_.jpg', 'article_date' => '2022-08-01 16:18:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15722', 'article_category_id' => '1', 'title' => '‘It is Normal for Cable Car to Halt’', 'sub_title' => '', 'summary' => 'August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. The company assured that such activity is of no harm to the passengers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The company organized a press conference to inform about the security of cable car after news reports raised serious questions about the cable car coming to a sudden halt.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Organising the press meet in the capital on Friday, the company informed media persons about the technical aspects of cable car and the procedures they adopt when it comes to a sudden halt. The company made a live demonstration to the media persons by halting the cable car travelled by around 100 media persons for ten minutes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the company’s engineer Saroj Chapagain, the cable car will come to a halt if the power goes off all of a sudden or if there is any problem related to automated system or the software of the cable car. The company claimed that it has kept generator produced by the world’s most reliable company standby just in case there is an emergency. According to the company, it has a one-megawatt capacity generator at the bottom station of the cable car.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the passengers will be taken to the top or the bottom station safely if through ‘emergency drive’ if the generator fails to operate due to technical glitches. The company said that it will take around 45 minutes to safely carry all the passengers of thirty eight cabins through the use of emergency drive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During normal situation, the cable car operates at a speed of five meters per second. However, during emergency drive, the speed is one meter per second due to which it will take around 40 to 45 minutes for the passengers to reach the top or the bottom station.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the cable car cabins might swing in case there is windstorm and the passengers often panic during such situation.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“How much it swings, it will not break off,” assured Chapagain.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chairman of Chandragiri Hills Limited, Chandra Prasad Dhakal, informed that the incidents of cable car coming to a halt is prevalent worldwide. He recalled that the cable car used by former Prime Minister KP Sharma Oli during his visit to Geneva came to a standstill for almost two hours. Dhakal was also in the delegation led by Oli.</span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15463', 'image' => '20220801055657_Pro_Ktm_Cablecare1.jpg', 'article_date' => '2022-08-01 17:56:10', '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' => '15737', 'article_category_id' => '1', 'title' => 'Deposits of Banks Decline by Rs 91 Billion after mid-July', 'sub_title' => '', 'summary' => 'August 3: Deposit collection of commercial banks have declined by Rs 91 billion in a period of just two weeks.', 'content' => '<p><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: Bank d</span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">eposits have declined by Rs 91 billion in a period of just two weeks. According to the data released by the Nepal Bankers Association on Tuesday, both the bank deposits and credit disbursement of commercial banks have declined since mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, their total deposits were Rs 45.41 trillion in mid-June, which dropped to Rs 44.50 trillion by July 29. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, deposit collection of commercial banks decreased by Rs 64 billion in the second week of July and by Rs 28 billion in the third week. Prior to that, the deposits of banks had increased by about Rs 1.5 billion till mid-July. By mid-June, total deposits of banks stood at Rs 44 trillion, which reached Rs 45.41 trillion by mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson of Nepal Rastra Bank Dr. Gunakar Bhatt says, “After mid-July, a large amount of money was deducted from the banking system when Nepal Oil Corporation paid the amount of oil purchase to the Indian Oil Corporation (IOC). The deposits of commercial banks decreased when the Nepal Oil Corporation paid the amount to the Indian Oil Corporation (IOC) in the third week of July. Deposits may also have declined as the government issued cheques to pay builders by mid-July.” He believes that this amount will get back to the banking system gradually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the third week of July, NOC took a loan from the government and paid Rs 16.80 billion to the IOC. Bhatta estimates that when NOC withdrew a large amount of money at once, the deposits of the commercial banks decreased significantly. Similarly, after the start of the new fiscal year, some of the budgets that could not be spent by the local bodies were returned to the state coffers, resulting in the decline in the deposits of the commercial banks. Along with the deposits, the investment of the banks has also decreased. As per the association, since mid-July, the banks' credit flow decreased by Rs 11 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">By mid-July, the total credit disbursement of commercial banks was Rs 41.75 trillion, which decreased to Rs 41.64 trillion as of July 29. Due to the lack of liquidity, banks recently stopped loan investment and emphasized on recovery. According to the association, the average credit-to-deposit ratio of banks remained at 87.98 percent on July 29.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15477', 'image' => '20220803054019_Banks - Copy.jpg', 'article_date' => '2022-08-03 17:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15736', 'article_category_id' => '1', 'title' => 'Eight Years on, Concept of Tea Auction Market Limited to Papers in Nepal', 'sub_title' => '', 'summary' => 'August 3: The government had initiated the process of establishing a tea auction market around eight years ago. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 3: The government had initiated the process of establishing a tea auction market around eight years ago. However, the government is yet to implement the concept. The government had even allocated budget for setting up the auction market and a lab for testing the quality of tea. Experts believe that the tea produced in Nepal will get a good place in the international market if such an auction market is set up. However, there has not been any tangible efforts in establishing the auction market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The concept of auction market has been making rounds since the last thirteen years. It was eight years ago that a committee headed by tea producer Suresh Mittal was formed to set up an auction market. The then section officer of the National Tea and Coffee Development Board Indra Adhikari was the member secretary of the committee. The committee had prepared ‘guidelines’ for the auction market and also set up a lab in Jhapa and required software with an investment of Rs ten million provided by the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">There were plans to include all the tea producers of Nepal in the auction market. As per the plan, all the tea industrialists were also affiliated to the auction market. However, the auction market is yet to function. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dilliram Baskota, general secretary of the Himalayan Orthodox Tea Producers Association, says that the auction market would have been set up years ago if the concerned parties had worked as per their commitment. Both the government and the industrialists need the auction market, says Baskota. However, the auction market has not come into operation due to the stance of both the sides.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Both the government and the industrialists have been blaming each other for the delay in operation of the auction market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of the National Tea and Coffee Development Board Dr Deepak Khanal says that the auction market could not be operated due to the stance taken by the industrialists after all the required infrastructure was ready. According to Khanal, the tea producers declined to join the auction market until their demand to seek bank loan by keeping the tea in warehouse as collateral was fulfilled. They also demanded grant from the government for exporting tea. The board tried to address the demands of the tea producers through the Ministry of Agriculture to failed to do so.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the tea producers blamed the government for not fulfilling their demands. They also accuse the government of dilly-dallying in bringing the auction market into operation fearing that the transaction of the market would be transparent. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Once the auction market comes into operation, all the transactions will be transparent. The government fears that the transactions of the state-owned tea garden will also become transparent. Therefore, the government does not want to operate the auction market,” said an industrialist requesting anonymity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Tea auction is the process of selling tea through software using a common platform where the tea producers and businessmen from within the country and abroad will have access. The software will have information about the price and samples of various brands of tea. The dealers can make online order for tea from overseas. This auction market started in the UK and entered the Indian market in the <span style="font-family:"Arial Unicode MS","sans-serif"">1980s. However, it is still not certain whether Nepal will implement it or not.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15476', 'image' => '20220803041253_Tea.jpg', 'article_date' => '2022-08-03 16:12:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15735', 'article_category_id' => '1', 'title' => 'Industrialists Unhappy about Hike in Rental Charge of Industrial Estates', 'sub_title' => '', 'summary' => 'August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the industrial land lease rate of all 10 industrial estates. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the rental charge of all 10 industrial estates. The Confederation of Nepalese Industries (CNI) has requested the government to withdraw the decision immediately, stating that the investment in the country's industry will be affected due to the increase in rate. The CNI argued that the increment has discouraged the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A sub-committee on fares, tariffs and service charges formed by IDM had recommended the new fares to be effective from 17 July 2018. The industrialists had expressed their displeasure during that time after the maximum annual charge for using the industrial areas was increased by 687 percent. After that, the then Minister for Industry instructed the concerned bodies not to implement this provision. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Khadka, information officer of IDM, said that now the IDA has started writing to the industries to comply with the same provision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI has been asking for an immediate refund of the increased rental charge in the industrial sector to create a conducive environment. CNI made this request after meeting Minister for Industry, Commerce and Supplies Dilendra Prasad Badu on Tuesday. A team led by the Acting President of the Confederation, Krishna Prasad Adhikari met Industry Secretary Arjun Prasad Pokharel and asked IDM to give continuity to the previous provision of rental charge . A meeting of IDM held on June 6, 2021 had decided to collect the additional charges that were due since July 17, 2018.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The CNI expressed objection stating that IDM has been seeking demand charge for stored equipment, collecting fees even for the water extracted through boring by the industries themselves and raising the rent of the land in an unwanted manner. The executive chairman of the federation said that the industries cannot bear the increase in rent from 98 percent to 687 percent until the industries affected by Covid-19 are able to recover. He urged the concerned authorities to create a conducive working environment by quickly solving the problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The acting presiding of CNI also pointed out the need for restructuring the IDM. He argued that the decision of IDM will result in the collapse of existing industries and the country's dream of import substitution and export promotion through the promotion of manufacturing and industrial sectors will not be fulfilled.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI informed that the IDM has denied extending contract period of land and also refused to issue recommendation letter for the industries to apply for bank loans in case they did not pay the new rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minister Badu expressed his commitment to find a long-term solution after discussion with IDM. IDM has set different rates for manufacturing and non-manufacturing industries. Depending on the industrial sector, the rental fare is less or more.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15475', 'image' => '20220803025853_Industrial-Policy.jpg', 'article_date' => '2022-08-03 14:58:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15734', 'article_category_id' => '1', 'title' => 'PM Deuba Tells Ministers, Secretaries to Reduce Unnecessary Expenses', 'sub_title' => '', 'summary' => 'August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.</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 a meeting at the Office of the Prime Minister and Council of Ministers in Singh Durbar on Tuesday, he urged the ministers and secretaries not provide vehicle facilities and fuel to employees or other officials except those who are entitled to receive such facilities.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also instructed the ministers and secretaries to work towards making the country become self-sufficient in vegetables and fruits within six months and self-reliant in food within one year. He directed all the ministries to make plans and work towards increasing electricity consumption and promoting exports. </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"">Similarly, PM Deuba said that consumption of the petroleum products should be gradually reduced while increasing consumption of hydroelectricity and directed the line agencies to introduce concrete plan of action for increasing consumption of hydroelectricity. </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"">Stating that the entire strength and vigour should be devoted for economic progress, social transformation and good-governance, the PM said the bottlenecks of development should be resolved through policy and institutional reforms by identifying those issues on time. </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, PM Deuba directed the ministers and secretaries to bring about positive changes in the service delivery to achieve good results through enhancement of the implementation capacity. </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 the meeting, PM Deuba said COVID-19 has had serious impact on our economic and social activities and our economy has witnessed external sector's pressure leading to challenges in all sectors of the economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"But, the situation is not so worrisome. Growth in the recurrent expenditure should be controlled by strengthening policy implementation and regulation side. We should work to control inflation and ensure investment in the productive sector," the PM said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge of the time is to maintain economic stability and gradually bring reforms in the key indicators of economy, PM Deuba said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, PM Deuba urged all to speed up implementation of the development projects to contribute to SDGs target, and Nepal's graduation from the least developed country (LDC) by 2026. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15474', 'image' => '20220803100737_image_6483441.JPG', 'article_date' => '2022-08-03 10:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15732', 'article_category_id' => '1', 'title' => 'Chinese High Court Rules in Favour of Nepalese Banks', 'sub_title' => 'Court Orders Chinese Bank to Refund Counter Guarantee Amount to BoK and Himalayan Bank', 'summary' => 'August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).', 'content' => '<p><span style="font-size:16px">August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).</span></p> <p><span style="font-size:16px">Following the high court order, the two banks of Nepal are all set to receive more than one and a half billion rupees for the counter guarantee of the project.</span></p> <p><span style="font-size:16px">CEO of BoK Shrawan Maskey confirmed that the Chinese high court ruled in their favour and expressed happiness about the prospect of receiving the money.</span></p> <p><span style="font-size:16px">“We have received information that we won the court case in China,” said Maskey, adding, “Now we will move ahead to claim the amount.”</span></p> <p><span style="font-size:16px">BoK and Himalayan Bank had provided counter guarantee of USD 66,25,010 and USD 14,11,453 respectively to China Railway which was assured the bank guarantee for the MWSP by the China Construction Bank.</span></p> <p><span style="font-size:16px">MWSP had terminated the contract with China Railway after it failed to undertake the project as per the agreement. MWSP then filed a case in the Chinese court seeking the guarantee amount. The Chinese court ruled that although the Nepalese banks had provided the guarantee amount to the project, they were yet to receive the counter guarantee amount from the Chinese bank.</span></p> <p><span style="font-size:16px">Earlier, China Railway had pleaded in the court that it the China Construction Company is not liable to pay the counter guarantee amount to the Nepalese banks. The two banks of Nepal then sent their representatives to China and fought a legal battle in the high court. CEO Maskey is hopeful of receiving the amount following the high court verdict.</span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => 'bank, guarantee, BoK, Himalayan, China, Railway, Construction, Melamchi, court, case, high', 'description' => '', 'sortorder' => '15473', 'image' => '20220803094438_istockphoto-900791430-612x612.jpg', 'article_date' => '2022-08-03 09:42:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15731', 'article_category_id' => '1', 'title' => 'Supreme Court Rejects Writ Petition against Finance Minister', 'sub_title' => '', 'summary' => 'August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court Administration rejected the writ petition filed by the Consumer Interest Protection Forum demanding a high-level investigation against Finance Minister Sharma for his alleged role in allowing unauthorized persons to become part of the budget making process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of the Supreme Court Narayan Prasad Panthi said that the writ petition was rejected as it was brought without completing the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15472', 'image' => '20220803085524_Supreme Court.jpg', 'article_date' => '2022-08-03 08:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15730', 'article_category_id' => '1', 'title' => 'Industrial Meet Kicks off in Madhesh Province ', 'sub_title' => '', 'summary' => 'August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. T', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. The industrial meet is underway in collaboration with Skills Enhancement for Employment Project (SEEP). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Minister of Madhes Province, Lal Babu Raut, Finance Minister of Madhes Province Shailendra Prasad Saha, province minister for land management, agriculture and cooperatives Bijaya Yadav, province minister for industry, tourism and forests Shatrughan Mahato, British ambassador to Nepal Nicola Pollitt, chief secretary of Madhes province Krishna Bahadur Raut attended the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some 100 industrialists from the province are participating in the province-level industrial meet that concludes on Wednesday. Group and thematic discussions will be held regarding the steps to be taken for economic growth in the coming days. The meet will also review the progress of economic growth and reform measures to be undertaken in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the province government awarded 23 industries contributing to enhancing employment and economic growth of the province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15471', 'image' => '20220802033714_Industries.jpg', 'article_date' => '2022-08-02 15:36:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15729', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve from Wednesday ', 'sub_title' => 'Light to moderate rain likely at many places of country today ', 'summary' => 'August 2: The weather across the nation is likely to improve from Wednesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The weather across the nation is likely to improve from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather would improve from Wednesday as there is a possibility of the low pressure system moving towards India, weakening the monsoon, says meteorologist at the Department of Hydrology and Meteorology, Manju Basi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rainfall has been taking place in most of the places of the country since the past few days. </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 weather is generally to mostly cloudy throughout the country today with chances of light to moderate rain accompanied by thunder and lightning at many places, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are chances of heavy rainfall in a few places of Province 1, Madhesh Province, Bagmati Province, Gandaki Province and Lumbini Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be partly to generally cloudy throughout the country. Light to moderate rain with thunder and lightning has been forecast at some places of the country with the possibility of heavy rain with thunder and lightning at one or two places of Bagmati Province, Gandaki Province, Lumbini Province, Karnali Province and Sudur Pashchim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the meteorological analysis of the division, the axis of monsoon trough at present is slightly towards north from the normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Monsoon which has been active since the past few days is likely to become weaker from Wednesday, resulting in improvement in weather condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15470', 'image' => '20220802032218_imgbiyP8PyF.jpg', 'article_date' => '2022-08-02 15:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15728', 'article_category_id' => '1', 'title' => '26K Tons of Maize Released from Ukraine Port', 'sub_title' => '', 'summary' => 'August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The agreement was signed a few weeks ago with the mediation of the United Nations and Turkey. According to the officials of Turkey and Ukraine, the ship holding the flag of Sierra Leone left the southern port of Odessa on Monday morning.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exports of food and grains from Ukraine came to a halt after Russia began its invasion of Ukraine on February 24. As a result, the supply of wheat, soybean, corn and other grains was affected worldwide and the prices surged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With this, there is a hope that the global food crisis will come to an end and the price of grains will go down again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Joint Cooperation Center (JCC) established in Istanbul, the ship is carrying about 26,000 tons of corn as per the agreement. The ship is expected to arrive in Turkish waters for inspection on Tuesday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ukraine's Minister of Infrastructure Oleksandr Kubrakov wrote in a Facebook post that Ukraine will earn at least USD 1 billion in foreign exchange from grain export after the export from the port is allowed, and this will provide an opportunity for planning in the agricultural sector in the coming year. He also said that 16 ships are waiting to export grain from Odessa in the coming weeks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, a grain export agreement was signed between Russia and Ukraine for 120 days. As per the information, if both parties agree, then the term of the agreement can be extended. As the Ukrainian grain could not be exported, the price of bread, pasta and other foods made from wheat became more expensive across the globe. Besides, the price of edible oil and fertilizer also surged in the world market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the agreement, Russia will not target the port while the grain is being transported on the ship or in the waterway. Turkey will inspect the ship to ease Russia's suspicions of weapon smuggling on board. Grain will be exported from the ports of Odessa, Chornomorsk and Pivdenne in southern Ukraine.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15469', 'image' => '20220802023107_ukraine.jpg', 'article_date' => '2022-08-02 14:30:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15727', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Strict Policy in Registering Cooperatives', 'sub_title' => '', 'summary' => 'August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Submitting the annual report of the fiscal year 2020/2</span></span><span style="font-size:10.5pt"><span style="font-family:"Arial","sans-serif"">1</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> to the Minister for Land Management, Cooperatives and Poverty Alleviation, Shashi Shrestha, the committee suggested the government to adopt strict measures while registering the cooperatives in order to curb the haphazard registration.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">All the three tiers of governments are doing everything from registration to regulation of cooperatives, which fall under the common jurisdiction of the federal, state and local levels. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the registration of savings and credit cooperatives have been stopped at the federal level, the state and local levels are still registering them except the Bagmati state government which closed the registration of savings and credit cooperatives some time ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee pointed out that cooperatives are not being operated as it should be and the institutions have become problematic due to non-compliance with the laws and regulations related to the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee suggests that effective implementation of laws related to the cooperatives as well as promotion of good governance in cooperatives is necessary to avoid problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the committee mentioned that the public trust in cooperatives can be increased only if they follow basic principles such as encouraging the process of merger between cooperatives with similar objectives, operating cooperatives with a strategy to reach the underprivileged, and operating in such a way that good governance is fully guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Receiving the report of the committee, Minister Shrestha emphasized that all parties should be involved in making cooperatives accountable. She mentioned that the ministry has emphasized on a cooperative campaign and developing a self-sufficient economy by linking it with production. Explaining that the cooperatives are the backbone of economic development, Minister Shrestha urged the cooperatives to become member-oriented and professional.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15468', 'image' => '20220802015543_cooperative problematic.jpg', 'article_date' => '2022-08-02 13:55:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15726', 'article_category_id' => '1', 'title' => 'Government Preparing to Change Hydropower Development Modality', 'sub_title' => '', 'summary' => 'August 2: The government is preparing to change the hydropower development modality in the near future. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 2: The government is preparing to change the hydropower development modality in the near future. The government is planning to increase production of hydropower energy by adopting a flexible policy based on the feasibility of hydropower development projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the government will remain open towards the design of hydropower projects and will not impose any preconditions and limitations on it. It is believed that the hydropower projects will be able to generate more electricity by maximum utilization of water once the government lifts the restrictions on limitation and removes preconditions for developing hydropower projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower projects under the existing Q-40 modality are required to prepare the design while constructing the hydropower plants. There is a possibility of wastage of water under this modality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former energy secretary Anup Upadhyay says that the lower the Q level is while increasing the capacity of the project, the wastage of water will be less. If the provision of Q-40 is removed, the developers can adopt a modality to increase production while designing the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already removed the provision of designing the semi-reservoir projects (PROR) under the Q-40 model. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of Nepal Electricity Authority on June 18 had decided to remove the provision of Q-40 for semi-reservoir projects. Such projects are now required to produce up to 70 percent energy of their installed capacity during rainy season and 30 percent during dry season. This provision was removed only for semi-reservoir based projects but will soon be implemented for reservoir-based hydropower projects as well. Minister for Energy, Hydropower and Irrigation Pampha Bhusal says that the government is holding extensive discussions about this topic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a programme organized in the capital on Sunday, Minister Bhusal said that the Government of Nepal is in favour of removing the provision of ‘Q’ considering its impact on climate change globally.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Bhusal said that the government is also preparing to open power purchase agreement of ROR projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Independent Power Producers Association of Nepal (IPPAN) is also positive about the government’s decision to remove the provision of ‘Q’. IPPAN is of the view that the existing provision has been causing a loss in production capacity of hydropower projects. IPPAN insists that the Q-40 provision is a hindrance to optimal use of hydropower projects and has urged the government to remove it for all kinds of projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to IPPAN President Krishna Acharya, hydropower projects in neighbouring India and Bhutan are built under Q-20 to Q-25 models while Sri Lanka has adopted a policy to develop such projects under the Q-20 model.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, Nepal has a provision of Q-40 which is not practical,” says Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argues that the government can check the quality and standard of hydropower projects but should not set unnecessary preconditions on production limits.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15467', 'image' => '20220802010355_hydro.jpg', 'article_date' => '2022-08-02 13:03:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15725', 'article_category_id' => '1', 'title' => 'Rain Damages Araniko Highway Affecting Transportation ', 'sub_title' => '', 'summary' => 'August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation. </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 a result, trucks and containers heading to China through Tatopani have been stranded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of the damaged road has started in coordination with the Department of Roads, informed the local police. </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"">Deputy Superintendent of Police Dakshya Kumar Basnet, information officer for the District Police Office, Sindhupalchowk, however said that transportation of small and light vehicles has been allowed. Tatopani is one of the two major trading points with China. However, supply of goods through this customs point has been irregular since the devastating earthquake seven years ago and the onset of coronavirus pandemic around two years ago. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15466', 'image' => '20220802120609_Tatopani.jpg', 'article_date' => '2022-08-02 12:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15724', 'article_category_id' => '1', 'title' => 'Labour Minister Insists on Accommodating Aspiring Workforce within the Country ', 'sub_title' => '', 'summary' => 'August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of the Industry, Commerce, Labour, and Consumers Welfare Committee, of the House of Representatives on Monday, the minister said aspiring domestic workforce should be encouraged to explore work opportunities within the country. The meeting focused on issues concerning foreign employment and labour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that Nepal has been a good labour market for the people from India while Nepali workers go abroad seeking employment opportunities. It is necessary to make the workers here aware that they can find a labour market within the country and it could pay them as equally as the foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He insisted on sending only the people with adequate skills to foreign jobs, suggesting for the management of domestic workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Bimal Shriwastav was of the opinion of creating jobs for domestic workforce. He shared that during a monitoring of a steel industry, it was found that the number of workers from India was double than that of domestic workers and the scenario suggested the possibility of managing probable workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the labour ministry, Eknarayan Aryal said the ministry is working to promote internal labour market and at present, 145,113 are employed under the Prime Minister Employment Programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director General of Department of Labour and Occupational Safety, Umakant Acharya, industrialists said they preferred workforce from outside the country as they performed more responsibly than domestic workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at the Department of Foreign Employment Shesh Narayan Paudel said there was a drop in number of Nepali nationals going abroad for jobs during the peak of COVID-19 pandemic and the figure had started going up with the slowdown in infection rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Paudel, 642,000 people went for foreign employment in the fiscal year 2016-17 and this figure dropped to 166,000 during FY 2020-21 and it rose to 621,000 last fiscal year (FY 2021-22). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15465', 'image' => '20220802114329_1634599881.4.jpg', 'article_date' => '2022-08-02 11:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15721', 'article_category_id' => '1', 'title' => 'IOC Lowers Fuel Prices, Will NOC Slash the Prices?', 'sub_title' => '', 'summary' => 'August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received by the state-owned oil company of Nepal on Monday, the price of petrol has been reduced by Rs 16. 80 per litre. Likewise, the price of diesel and kerosene has been reduced by Rs 12. 45 per litre.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On July 15, IOC had reduced the price of petrol by Rs 15. 76 and diesel by Rs 16. 56 per litre. However, NOC is yet to adjust the price of petroleum products stating that it is still in internal loss despite the reduction in price list sent by the IOC. The NOC has not yet made its views public regarding whether it will lower the price of fuel or not.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NOC insists it is still bearing a loss of Rs 14.19 on a litre of petrol and a loss of Rs 21. 92 per litre of diesel/kerosene.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The IOC reduced the price of petroleum products after a decline in fuel prices in the international market. The price of Brent crude oil in the international market currently stands at USD 103 per barrel.</span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15464', 'image' => '20220801041923_1659345984_.jpg', 'article_date' => '2022-08-01 16:18:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15722', 'article_category_id' => '1', 'title' => '‘It is Normal for Cable Car to Halt’', 'sub_title' => '', 'summary' => 'August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. The company assured that such activity is of no harm to the passengers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The company organized a press conference to inform about the security of cable car after news reports raised serious questions about the cable car coming to a sudden halt.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Organising the press meet in the capital on Friday, the company informed media persons about the technical aspects of cable car and the procedures they adopt when it comes to a sudden halt. The company made a live demonstration to the media persons by halting the cable car travelled by around 100 media persons for ten minutes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the company’s engineer Saroj Chapagain, the cable car will come to a halt if the power goes off all of a sudden or if there is any problem related to automated system or the software of the cable car. The company claimed that it has kept generator produced by the world’s most reliable company standby just in case there is an emergency. According to the company, it has a one-megawatt capacity generator at the bottom station of the cable car.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the passengers will be taken to the top or the bottom station safely if through ‘emergency drive’ if the generator fails to operate due to technical glitches. The company said that it will take around 45 minutes to safely carry all the passengers of thirty eight cabins through the use of emergency drive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During normal situation, the cable car operates at a speed of five meters per second. However, during emergency drive, the speed is one meter per second due to which it will take around 40 to 45 minutes for the passengers to reach the top or the bottom station.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the cable car cabins might swing in case there is windstorm and the passengers often panic during such situation.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“How much it swings, it will not break off,” assured Chapagain.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chairman of Chandragiri Hills Limited, Chandra Prasad Dhakal, informed that the incidents of cable car coming to a halt is prevalent worldwide. He recalled that the cable car used by former Prime Minister KP Sharma Oli during his visit to Geneva came to a standstill for almost two hours. Dhakal was also in the delegation led by Oli.</span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15463', 'image' => '20220801055657_Pro_Ktm_Cablecare1.jpg', 'article_date' => '2022-08-01 17:56:10', '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' => '15737', 'article_category_id' => '1', 'title' => 'Deposits of Banks Decline by Rs 91 Billion after mid-July', 'sub_title' => '', 'summary' => 'August 3: Deposit collection of commercial banks have declined by Rs 91 billion in a period of just two weeks.', 'content' => '<p><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: Bank d</span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">eposits have declined by Rs 91 billion in a period of just two weeks. According to the data released by the Nepal Bankers Association on Tuesday, both the bank deposits and credit disbursement of commercial banks have declined since mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, their total deposits were Rs 45.41 trillion in mid-June, which dropped to Rs 44.50 trillion by July 29. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, deposit collection of commercial banks decreased by Rs 64 billion in the second week of July and by Rs 28 billion in the third week. Prior to that, the deposits of banks had increased by about Rs 1.5 billion till mid-July. By mid-June, total deposits of banks stood at Rs 44 trillion, which reached Rs 45.41 trillion by mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson of Nepal Rastra Bank Dr. Gunakar Bhatt says, “After mid-July, a large amount of money was deducted from the banking system when Nepal Oil Corporation paid the amount of oil purchase to the Indian Oil Corporation (IOC). The deposits of commercial banks decreased when the Nepal Oil Corporation paid the amount to the Indian Oil Corporation (IOC) in the third week of July. Deposits may also have declined as the government issued cheques to pay builders by mid-July.” He believes that this amount will get back to the banking system gradually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the third week of July, NOC took a loan from the government and paid Rs 16.80 billion to the IOC. Bhatta estimates that when NOC withdrew a large amount of money at once, the deposits of the commercial banks decreased significantly. Similarly, after the start of the new fiscal year, some of the budgets that could not be spent by the local bodies were returned to the state coffers, resulting in the decline in the deposits of the commercial banks. Along with the deposits, the investment of the banks has also decreased. As per the association, since mid-July, the banks' credit flow decreased by Rs 11 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">By mid-July, the total credit disbursement of commercial banks was Rs 41.75 trillion, which decreased to Rs 41.64 trillion as of July 29. Due to the lack of liquidity, banks recently stopped loan investment and emphasized on recovery. According to the association, the average credit-to-deposit ratio of banks remained at 87.98 percent on July 29.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15477', 'image' => '20220803054019_Banks - Copy.jpg', 'article_date' => '2022-08-03 17:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15736', 'article_category_id' => '1', 'title' => 'Eight Years on, Concept of Tea Auction Market Limited to Papers in Nepal', 'sub_title' => '', 'summary' => 'August 3: The government had initiated the process of establishing a tea auction market around eight years ago. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 3: The government had initiated the process of establishing a tea auction market around eight years ago. However, the government is yet to implement the concept. The government had even allocated budget for setting up the auction market and a lab for testing the quality of tea. Experts believe that the tea produced in Nepal will get a good place in the international market if such an auction market is set up. However, there has not been any tangible efforts in establishing the auction market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The concept of auction market has been making rounds since the last thirteen years. It was eight years ago that a committee headed by tea producer Suresh Mittal was formed to set up an auction market. The then section officer of the National Tea and Coffee Development Board Indra Adhikari was the member secretary of the committee. The committee had prepared ‘guidelines’ for the auction market and also set up a lab in Jhapa and required software with an investment of Rs ten million provided by the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">There were plans to include all the tea producers of Nepal in the auction market. As per the plan, all the tea industrialists were also affiliated to the auction market. However, the auction market is yet to function. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dilliram Baskota, general secretary of the Himalayan Orthodox Tea Producers Association, says that the auction market would have been set up years ago if the concerned parties had worked as per their commitment. Both the government and the industrialists need the auction market, says Baskota. However, the auction market has not come into operation due to the stance of both the sides.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Both the government and the industrialists have been blaming each other for the delay in operation of the auction market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of the National Tea and Coffee Development Board Dr Deepak Khanal says that the auction market could not be operated due to the stance taken by the industrialists after all the required infrastructure was ready. According to Khanal, the tea producers declined to join the auction market until their demand to seek bank loan by keeping the tea in warehouse as collateral was fulfilled. They also demanded grant from the government for exporting tea. The board tried to address the demands of the tea producers through the Ministry of Agriculture to failed to do so.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the tea producers blamed the government for not fulfilling their demands. They also accuse the government of dilly-dallying in bringing the auction market into operation fearing that the transaction of the market would be transparent. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Once the auction market comes into operation, all the transactions will be transparent. The government fears that the transactions of the state-owned tea garden will also become transparent. Therefore, the government does not want to operate the auction market,” said an industrialist requesting anonymity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Tea auction is the process of selling tea through software using a common platform where the tea producers and businessmen from within the country and abroad will have access. The software will have information about the price and samples of various brands of tea. The dealers can make online order for tea from overseas. This auction market started in the UK and entered the Indian market in the <span style="font-family:"Arial Unicode MS","sans-serif"">1980s. However, it is still not certain whether Nepal will implement it or not.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15476', 'image' => '20220803041253_Tea.jpg', 'article_date' => '2022-08-03 16:12:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15735', 'article_category_id' => '1', 'title' => 'Industrialists Unhappy about Hike in Rental Charge of Industrial Estates', 'sub_title' => '', 'summary' => 'August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the industrial land lease rate of all 10 industrial estates. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the rental charge of all 10 industrial estates. The Confederation of Nepalese Industries (CNI) has requested the government to withdraw the decision immediately, stating that the investment in the country's industry will be affected due to the increase in rate. The CNI argued that the increment has discouraged the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A sub-committee on fares, tariffs and service charges formed by IDM had recommended the new fares to be effective from 17 July 2018. The industrialists had expressed their displeasure during that time after the maximum annual charge for using the industrial areas was increased by 687 percent. After that, the then Minister for Industry instructed the concerned bodies not to implement this provision. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Khadka, information officer of IDM, said that now the IDA has started writing to the industries to comply with the same provision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI has been asking for an immediate refund of the increased rental charge in the industrial sector to create a conducive environment. CNI made this request after meeting Minister for Industry, Commerce and Supplies Dilendra Prasad Badu on Tuesday. A team led by the Acting President of the Confederation, Krishna Prasad Adhikari met Industry Secretary Arjun Prasad Pokharel and asked IDM to give continuity to the previous provision of rental charge . A meeting of IDM held on June 6, 2021 had decided to collect the additional charges that were due since July 17, 2018.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The CNI expressed objection stating that IDM has been seeking demand charge for stored equipment, collecting fees even for the water extracted through boring by the industries themselves and raising the rent of the land in an unwanted manner. The executive chairman of the federation said that the industries cannot bear the increase in rent from 98 percent to 687 percent until the industries affected by Covid-19 are able to recover. He urged the concerned authorities to create a conducive working environment by quickly solving the problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The acting presiding of CNI also pointed out the need for restructuring the IDM. He argued that the decision of IDM will result in the collapse of existing industries and the country's dream of import substitution and export promotion through the promotion of manufacturing and industrial sectors will not be fulfilled.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI informed that the IDM has denied extending contract period of land and also refused to issue recommendation letter for the industries to apply for bank loans in case they did not pay the new rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minister Badu expressed his commitment to find a long-term solution after discussion with IDM. IDM has set different rates for manufacturing and non-manufacturing industries. Depending on the industrial sector, the rental fare is less or more.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15475', 'image' => '20220803025853_Industrial-Policy.jpg', 'article_date' => '2022-08-03 14:58:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15734', 'article_category_id' => '1', 'title' => 'PM Deuba Tells Ministers, Secretaries to Reduce Unnecessary Expenses', 'sub_title' => '', 'summary' => 'August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.</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 a meeting at the Office of the Prime Minister and Council of Ministers in Singh Durbar on Tuesday, he urged the ministers and secretaries not provide vehicle facilities and fuel to employees or other officials except those who are entitled to receive such facilities.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also instructed the ministers and secretaries to work towards making the country become self-sufficient in vegetables and fruits within six months and self-reliant in food within one year. He directed all the ministries to make plans and work towards increasing electricity consumption and promoting exports. </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"">Similarly, PM Deuba said that consumption of the petroleum products should be gradually reduced while increasing consumption of hydroelectricity and directed the line agencies to introduce concrete plan of action for increasing consumption of hydroelectricity. </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"">Stating that the entire strength and vigour should be devoted for economic progress, social transformation and good-governance, the PM said the bottlenecks of development should be resolved through policy and institutional reforms by identifying those issues on time. </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, PM Deuba directed the ministers and secretaries to bring about positive changes in the service delivery to achieve good results through enhancement of the implementation capacity. </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 the meeting, PM Deuba said COVID-19 has had serious impact on our economic and social activities and our economy has witnessed external sector's pressure leading to challenges in all sectors of the economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"But, the situation is not so worrisome. Growth in the recurrent expenditure should be controlled by strengthening policy implementation and regulation side. We should work to control inflation and ensure investment in the productive sector," the PM said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge of the time is to maintain economic stability and gradually bring reforms in the key indicators of economy, PM Deuba said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, PM Deuba urged all to speed up implementation of the development projects to contribute to SDGs target, and Nepal's graduation from the least developed country (LDC) by 2026. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15474', 'image' => '20220803100737_image_6483441.JPG', 'article_date' => '2022-08-03 10:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15732', 'article_category_id' => '1', 'title' => 'Chinese High Court Rules in Favour of Nepalese Banks', 'sub_title' => 'Court Orders Chinese Bank to Refund Counter Guarantee Amount to BoK and Himalayan Bank', 'summary' => 'August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).', 'content' => '<p><span style="font-size:16px">August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).</span></p> <p><span style="font-size:16px">Following the high court order, the two banks of Nepal are all set to receive more than one and a half billion rupees for the counter guarantee of the project.</span></p> <p><span style="font-size:16px">CEO of BoK Shrawan Maskey confirmed that the Chinese high court ruled in their favour and expressed happiness about the prospect of receiving the money.</span></p> <p><span style="font-size:16px">“We have received information that we won the court case in China,” said Maskey, adding, “Now we will move ahead to claim the amount.”</span></p> <p><span style="font-size:16px">BoK and Himalayan Bank had provided counter guarantee of USD 66,25,010 and USD 14,11,453 respectively to China Railway which was assured the bank guarantee for the MWSP by the China Construction Bank.</span></p> <p><span style="font-size:16px">MWSP had terminated the contract with China Railway after it failed to undertake the project as per the agreement. MWSP then filed a case in the Chinese court seeking the guarantee amount. The Chinese court ruled that although the Nepalese banks had provided the guarantee amount to the project, they were yet to receive the counter guarantee amount from the Chinese bank.</span></p> <p><span style="font-size:16px">Earlier, China Railway had pleaded in the court that it the China Construction Company is not liable to pay the counter guarantee amount to the Nepalese banks. The two banks of Nepal then sent their representatives to China and fought a legal battle in the high court. CEO Maskey is hopeful of receiving the amount following the high court verdict.</span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => 'bank, guarantee, BoK, Himalayan, China, Railway, Construction, Melamchi, court, case, high', 'description' => '', 'sortorder' => '15473', 'image' => '20220803094438_istockphoto-900791430-612x612.jpg', 'article_date' => '2022-08-03 09:42:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15731', 'article_category_id' => '1', 'title' => 'Supreme Court Rejects Writ Petition against Finance Minister', 'sub_title' => '', 'summary' => 'August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court Administration rejected the writ petition filed by the Consumer Interest Protection Forum demanding a high-level investigation against Finance Minister Sharma for his alleged role in allowing unauthorized persons to become part of the budget making process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of the Supreme Court Narayan Prasad Panthi said that the writ petition was rejected as it was brought without completing the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15472', 'image' => '20220803085524_Supreme Court.jpg', 'article_date' => '2022-08-03 08:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15730', 'article_category_id' => '1', 'title' => 'Industrial Meet Kicks off in Madhesh Province ', 'sub_title' => '', 'summary' => 'August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. T', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. The industrial meet is underway in collaboration with Skills Enhancement for Employment Project (SEEP). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Minister of Madhes Province, Lal Babu Raut, Finance Minister of Madhes Province Shailendra Prasad Saha, province minister for land management, agriculture and cooperatives Bijaya Yadav, province minister for industry, tourism and forests Shatrughan Mahato, British ambassador to Nepal Nicola Pollitt, chief secretary of Madhes province Krishna Bahadur Raut attended the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some 100 industrialists from the province are participating in the province-level industrial meet that concludes on Wednesday. Group and thematic discussions will be held regarding the steps to be taken for economic growth in the coming days. The meet will also review the progress of economic growth and reform measures to be undertaken in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the province government awarded 23 industries contributing to enhancing employment and economic growth of the province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15471', 'image' => '20220802033714_Industries.jpg', 'article_date' => '2022-08-02 15:36:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15729', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve from Wednesday ', 'sub_title' => 'Light to moderate rain likely at many places of country today ', 'summary' => 'August 2: The weather across the nation is likely to improve from Wednesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The weather across the nation is likely to improve from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather would improve from Wednesday as there is a possibility of the low pressure system moving towards India, weakening the monsoon, says meteorologist at the Department of Hydrology and Meteorology, Manju Basi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rainfall has been taking place in most of the places of the country since the past few days. </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 weather is generally to mostly cloudy throughout the country today with chances of light to moderate rain accompanied by thunder and lightning at many places, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are chances of heavy rainfall in a few places of Province 1, Madhesh Province, Bagmati Province, Gandaki Province and Lumbini Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be partly to generally cloudy throughout the country. Light to moderate rain with thunder and lightning has been forecast at some places of the country with the possibility of heavy rain with thunder and lightning at one or two places of Bagmati Province, Gandaki Province, Lumbini Province, Karnali Province and Sudur Pashchim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the meteorological analysis of the division, the axis of monsoon trough at present is slightly towards north from the normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Monsoon which has been active since the past few days is likely to become weaker from Wednesday, resulting in improvement in weather condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15470', 'image' => '20220802032218_imgbiyP8PyF.jpg', 'article_date' => '2022-08-02 15:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15728', 'article_category_id' => '1', 'title' => '26K Tons of Maize Released from Ukraine Port', 'sub_title' => '', 'summary' => 'August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The agreement was signed a few weeks ago with the mediation of the United Nations and Turkey. According to the officials of Turkey and Ukraine, the ship holding the flag of Sierra Leone left the southern port of Odessa on Monday morning.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exports of food and grains from Ukraine came to a halt after Russia began its invasion of Ukraine on February 24. As a result, the supply of wheat, soybean, corn and other grains was affected worldwide and the prices surged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With this, there is a hope that the global food crisis will come to an end and the price of grains will go down again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Joint Cooperation Center (JCC) established in Istanbul, the ship is carrying about 26,000 tons of corn as per the agreement. The ship is expected to arrive in Turkish waters for inspection on Tuesday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ukraine's Minister of Infrastructure Oleksandr Kubrakov wrote in a Facebook post that Ukraine will earn at least USD 1 billion in foreign exchange from grain export after the export from the port is allowed, and this will provide an opportunity for planning in the agricultural sector in the coming year. He also said that 16 ships are waiting to export grain from Odessa in the coming weeks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, a grain export agreement was signed between Russia and Ukraine for 120 days. As per the information, if both parties agree, then the term of the agreement can be extended. As the Ukrainian grain could not be exported, the price of bread, pasta and other foods made from wheat became more expensive across the globe. Besides, the price of edible oil and fertilizer also surged in the world market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the agreement, Russia will not target the port while the grain is being transported on the ship or in the waterway. Turkey will inspect the ship to ease Russia's suspicions of weapon smuggling on board. Grain will be exported from the ports of Odessa, Chornomorsk and Pivdenne in southern Ukraine.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15469', 'image' => '20220802023107_ukraine.jpg', 'article_date' => '2022-08-02 14:30:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15727', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Strict Policy in Registering Cooperatives', 'sub_title' => '', 'summary' => 'August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Submitting the annual report of the fiscal year 2020/2</span></span><span style="font-size:10.5pt"><span style="font-family:"Arial","sans-serif"">1</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> to the Minister for Land Management, Cooperatives and Poverty Alleviation, Shashi Shrestha, the committee suggested the government to adopt strict measures while registering the cooperatives in order to curb the haphazard registration.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">All the three tiers of governments are doing everything from registration to regulation of cooperatives, which fall under the common jurisdiction of the federal, state and local levels. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the registration of savings and credit cooperatives have been stopped at the federal level, the state and local levels are still registering them except the Bagmati state government which closed the registration of savings and credit cooperatives some time ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee pointed out that cooperatives are not being operated as it should be and the institutions have become problematic due to non-compliance with the laws and regulations related to the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee suggests that effective implementation of laws related to the cooperatives as well as promotion of good governance in cooperatives is necessary to avoid problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the committee mentioned that the public trust in cooperatives can be increased only if they follow basic principles such as encouraging the process of merger between cooperatives with similar objectives, operating cooperatives with a strategy to reach the underprivileged, and operating in such a way that good governance is fully guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Receiving the report of the committee, Minister Shrestha emphasized that all parties should be involved in making cooperatives accountable. She mentioned that the ministry has emphasized on a cooperative campaign and developing a self-sufficient economy by linking it with production. Explaining that the cooperatives are the backbone of economic development, Minister Shrestha urged the cooperatives to become member-oriented and professional.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15468', 'image' => '20220802015543_cooperative problematic.jpg', 'article_date' => '2022-08-02 13:55:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15726', 'article_category_id' => '1', 'title' => 'Government Preparing to Change Hydropower Development Modality', 'sub_title' => '', 'summary' => 'August 2: The government is preparing to change the hydropower development modality in the near future. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 2: The government is preparing to change the hydropower development modality in the near future. The government is planning to increase production of hydropower energy by adopting a flexible policy based on the feasibility of hydropower development projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the government will remain open towards the design of hydropower projects and will not impose any preconditions and limitations on it. It is believed that the hydropower projects will be able to generate more electricity by maximum utilization of water once the government lifts the restrictions on limitation and removes preconditions for developing hydropower projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower projects under the existing Q-40 modality are required to prepare the design while constructing the hydropower plants. There is a possibility of wastage of water under this modality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former energy secretary Anup Upadhyay says that the lower the Q level is while increasing the capacity of the project, the wastage of water will be less. If the provision of Q-40 is removed, the developers can adopt a modality to increase production while designing the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already removed the provision of designing the semi-reservoir projects (PROR) under the Q-40 model. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of Nepal Electricity Authority on June 18 had decided to remove the provision of Q-40 for semi-reservoir projects. Such projects are now required to produce up to 70 percent energy of their installed capacity during rainy season and 30 percent during dry season. This provision was removed only for semi-reservoir based projects but will soon be implemented for reservoir-based hydropower projects as well. Minister for Energy, Hydropower and Irrigation Pampha Bhusal says that the government is holding extensive discussions about this topic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a programme organized in the capital on Sunday, Minister Bhusal said that the Government of Nepal is in favour of removing the provision of ‘Q’ considering its impact on climate change globally.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Bhusal said that the government is also preparing to open power purchase agreement of ROR projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Independent Power Producers Association of Nepal (IPPAN) is also positive about the government’s decision to remove the provision of ‘Q’. IPPAN is of the view that the existing provision has been causing a loss in production capacity of hydropower projects. IPPAN insists that the Q-40 provision is a hindrance to optimal use of hydropower projects and has urged the government to remove it for all kinds of projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to IPPAN President Krishna Acharya, hydropower projects in neighbouring India and Bhutan are built under Q-20 to Q-25 models while Sri Lanka has adopted a policy to develop such projects under the Q-20 model.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, Nepal has a provision of Q-40 which is not practical,” says Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argues that the government can check the quality and standard of hydropower projects but should not set unnecessary preconditions on production limits.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15467', 'image' => '20220802010355_hydro.jpg', 'article_date' => '2022-08-02 13:03:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15725', 'article_category_id' => '1', 'title' => 'Rain Damages Araniko Highway Affecting Transportation ', 'sub_title' => '', 'summary' => 'August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation. </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 a result, trucks and containers heading to China through Tatopani have been stranded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of the damaged road has started in coordination with the Department of Roads, informed the local police. </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"">Deputy Superintendent of Police Dakshya Kumar Basnet, information officer for the District Police Office, Sindhupalchowk, however said that transportation of small and light vehicles has been allowed. Tatopani is one of the two major trading points with China. However, supply of goods through this customs point has been irregular since the devastating earthquake seven years ago and the onset of coronavirus pandemic around two years ago. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15466', 'image' => '20220802120609_Tatopani.jpg', 'article_date' => '2022-08-02 12:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15724', 'article_category_id' => '1', 'title' => 'Labour Minister Insists on Accommodating Aspiring Workforce within the Country ', 'sub_title' => '', 'summary' => 'August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of the Industry, Commerce, Labour, and Consumers Welfare Committee, of the House of Representatives on Monday, the minister said aspiring domestic workforce should be encouraged to explore work opportunities within the country. The meeting focused on issues concerning foreign employment and labour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that Nepal has been a good labour market for the people from India while Nepali workers go abroad seeking employment opportunities. It is necessary to make the workers here aware that they can find a labour market within the country and it could pay them as equally as the foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He insisted on sending only the people with adequate skills to foreign jobs, suggesting for the management of domestic workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Bimal Shriwastav was of the opinion of creating jobs for domestic workforce. He shared that during a monitoring of a steel industry, it was found that the number of workers from India was double than that of domestic workers and the scenario suggested the possibility of managing probable workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the labour ministry, Eknarayan Aryal said the ministry is working to promote internal labour market and at present, 145,113 are employed under the Prime Minister Employment Programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director General of Department of Labour and Occupational Safety, Umakant Acharya, industrialists said they preferred workforce from outside the country as they performed more responsibly than domestic workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at the Department of Foreign Employment Shesh Narayan Paudel said there was a drop in number of Nepali nationals going abroad for jobs during the peak of COVID-19 pandemic and the figure had started going up with the slowdown in infection rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Paudel, 642,000 people went for foreign employment in the fiscal year 2016-17 and this figure dropped to 166,000 during FY 2020-21 and it rose to 621,000 last fiscal year (FY 2021-22). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15465', 'image' => '20220802114329_1634599881.4.jpg', 'article_date' => '2022-08-02 11:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15721', 'article_category_id' => '1', 'title' => 'IOC Lowers Fuel Prices, Will NOC Slash the Prices?', 'sub_title' => '', 'summary' => 'August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received by the state-owned oil company of Nepal on Monday, the price of petrol has been reduced by Rs 16. 80 per litre. Likewise, the price of diesel and kerosene has been reduced by Rs 12. 45 per litre.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On July 15, IOC had reduced the price of petrol by Rs 15. 76 and diesel by Rs 16. 56 per litre. However, NOC is yet to adjust the price of petroleum products stating that it is still in internal loss despite the reduction in price list sent by the IOC. The NOC has not yet made its views public regarding whether it will lower the price of fuel or not.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NOC insists it is still bearing a loss of Rs 14.19 on a litre of petrol and a loss of Rs 21. 92 per litre of diesel/kerosene.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The IOC reduced the price of petroleum products after a decline in fuel prices in the international market. The price of Brent crude oil in the international market currently stands at USD 103 per barrel.</span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15464', 'image' => '20220801041923_1659345984_.jpg', 'article_date' => '2022-08-01 16:18:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15722', 'article_category_id' => '1', 'title' => '‘It is Normal for Cable Car to Halt’', 'sub_title' => '', 'summary' => 'August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. The company assured that such activity is of no harm to the passengers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The company organized a press conference to inform about the security of cable car after news reports raised serious questions about the cable car coming to a sudden halt.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Organising the press meet in the capital on Friday, the company informed media persons about the technical aspects of cable car and the procedures they adopt when it comes to a sudden halt. The company made a live demonstration to the media persons by halting the cable car travelled by around 100 media persons for ten minutes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the company’s engineer Saroj Chapagain, the cable car will come to a halt if the power goes off all of a sudden or if there is any problem related to automated system or the software of the cable car. The company claimed that it has kept generator produced by the world’s most reliable company standby just in case there is an emergency. According to the company, it has a one-megawatt capacity generator at the bottom station of the cable car.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the passengers will be taken to the top or the bottom station safely if through ‘emergency drive’ if the generator fails to operate due to technical glitches. The company said that it will take around 45 minutes to safely carry all the passengers of thirty eight cabins through the use of emergency drive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During normal situation, the cable car operates at a speed of five meters per second. However, during emergency drive, the speed is one meter per second due to which it will take around 40 to 45 minutes for the passengers to reach the top or the bottom station.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the cable car cabins might swing in case there is windstorm and the passengers often panic during such situation.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“How much it swings, it will not break off,” assured Chapagain.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chairman of Chandragiri Hills Limited, Chandra Prasad Dhakal, informed that the incidents of cable car coming to a halt is prevalent worldwide. He recalled that the cable car used by former Prime Minister KP Sharma Oli during his visit to Geneva came to a standstill for almost two hours. Dhakal was also in the delegation led by Oli.</span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15463', 'image' => '20220801055657_Pro_Ktm_Cablecare1.jpg', 'article_date' => '2022-08-01 17:56:10', '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
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 133]file not found!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' => '15737', 'article_category_id' => '1', 'title' => 'Deposits of Banks Decline by Rs 91 Billion after mid-July', 'sub_title' => '', 'summary' => 'August 3: Deposit collection of commercial banks have declined by Rs 91 billion in a period of just two weeks.', 'content' => '<p><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: Bank d</span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">eposits have declined by Rs 91 billion in a period of just two weeks. According to the data released by the Nepal Bankers Association on Tuesday, both the bank deposits and credit disbursement of commercial banks have declined since mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, their total deposits were Rs 45.41 trillion in mid-June, which dropped to Rs 44.50 trillion by July 29. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the association, deposit collection of commercial banks decreased by Rs 64 billion in the second week of July and by Rs 28 billion in the third week. Prior to that, the deposits of banks had increased by about Rs 1.5 billion till mid-July. By mid-June, total deposits of banks stood at Rs 44 trillion, which reached Rs 45.41 trillion by mid-July.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Spokesperson of Nepal Rastra Bank Dr. Gunakar Bhatt says, “After mid-July, a large amount of money was deducted from the banking system when Nepal Oil Corporation paid the amount of oil purchase to the Indian Oil Corporation (IOC). The deposits of commercial banks decreased when the Nepal Oil Corporation paid the amount to the Indian Oil Corporation (IOC) in the third week of July. Deposits may also have declined as the government issued cheques to pay builders by mid-July.” He believes that this amount will get back to the banking system gradually.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">In the third week of July, NOC took a loan from the government and paid Rs 16.80 billion to the IOC. Bhatta estimates that when NOC withdrew a large amount of money at once, the deposits of the commercial banks decreased significantly. Similarly, after the start of the new fiscal year, some of the budgets that could not be spent by the local bodies were returned to the state coffers, resulting in the decline in the deposits of the commercial banks. Along with the deposits, the investment of the banks has also decreased. As per the association, since mid-July, the banks' credit flow decreased by Rs 11 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">By mid-July, the total credit disbursement of commercial banks was Rs 41.75 trillion, which decreased to Rs 41.64 trillion as of July 29. Due to the lack of liquidity, banks recently stopped loan investment and emphasized on recovery. According to the association, the average credit-to-deposit ratio of banks remained at 87.98 percent on July 29.</span></span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15477', 'image' => '20220803054019_Banks - Copy.jpg', 'article_date' => '2022-08-03 17:38:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15736', 'article_category_id' => '1', 'title' => 'Eight Years on, Concept of Tea Auction Market Limited to Papers in Nepal', 'sub_title' => '', 'summary' => 'August 3: The government had initiated the process of establishing a tea auction market around eight years ago. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 3: The government had initiated the process of establishing a tea auction market around eight years ago. However, the government is yet to implement the concept. The government had even allocated budget for setting up the auction market and a lab for testing the quality of tea. Experts believe that the tea produced in Nepal will get a good place in the international market if such an auction market is set up. However, there has not been any tangible efforts in establishing the auction market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The concept of auction market has been making rounds since the last thirteen years. It was eight years ago that a committee headed by tea producer Suresh Mittal was formed to set up an auction market. The then section officer of the National Tea and Coffee Development Board Indra Adhikari was the member secretary of the committee. The committee had prepared ‘guidelines’ for the auction market and also set up a lab in Jhapa and required software with an investment of Rs ten million provided by the Ministry of Agriculture and Livestock Development.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">There were plans to include all the tea producers of Nepal in the auction market. As per the plan, all the tea industrialists were also affiliated to the auction market. However, the auction market is yet to function. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Dilliram Baskota, general secretary of the Himalayan Orthodox Tea Producers Association, says that the auction market would have been set up years ago if the concerned parties had worked as per their commitment. Both the government and the industrialists need the auction market, says Baskota. However, the auction market has not come into operation due to the stance of both the sides.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Both the government and the industrialists have been blaming each other for the delay in operation of the auction market. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Spokesperson of the National Tea and Coffee Development Board Dr Deepak Khanal says that the auction market could not be operated due to the stance taken by the industrialists after all the required infrastructure was ready. According to Khanal, the tea producers declined to join the auction market until their demand to seek bank loan by keeping the tea in warehouse as collateral was fulfilled. They also demanded grant from the government for exporting tea. The board tried to address the demands of the tea producers through the Ministry of Agriculture to failed to do so.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On the other hand, the tea producers blamed the government for not fulfilling their demands. They also accuse the government of dilly-dallying in bringing the auction market into operation fearing that the transaction of the market would be transparent. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“Once the auction market comes into operation, all the transactions will be transparent. The government fears that the transactions of the state-owned tea garden will also become transparent. Therefore, the government does not want to operate the auction market,” said an industrialist requesting anonymity.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Tea auction is the process of selling tea through software using a common platform where the tea producers and businessmen from within the country and abroad will have access. The software will have information about the price and samples of various brands of tea. The dealers can make online order for tea from overseas. This auction market started in the UK and entered the Indian market in the <span style="font-family:"Arial Unicode MS","sans-serif"">1980s. However, it is still not certain whether Nepal will implement it or not.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15476', 'image' => '20220803041253_Tea.jpg', 'article_date' => '2022-08-03 16:12:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15735', 'article_category_id' => '1', 'title' => 'Industrialists Unhappy about Hike in Rental Charge of Industrial Estates', 'sub_title' => '', 'summary' => 'August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the industrial land lease rate of all 10 industrial estates. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 3: The private sector is dissatisfied with the decision of Industrial Area Management Limited (IDM) to increase the rental charge of all 10 industrial estates. The Confederation of Nepalese Industries (CNI) has requested the government to withdraw the decision immediately, stating that the investment in the country's industry will be affected due to the increase in rate. The CNI argued that the increment has discouraged the private sector.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A sub-committee on fares, tariffs and service charges formed by IDM had recommended the new fares to be effective from 17 July 2018. The industrialists had expressed their displeasure during that time after the maximum annual charge for using the industrial areas was increased by 687 percent. After that, the then Minister for Industry instructed the concerned bodies not to implement this provision. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Prakash Khadka, information officer of IDM, said that now the IDA has started writing to the industries to comply with the same provision.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI has been asking for an immediate refund of the increased rental charge in the industrial sector to create a conducive environment. CNI made this request after meeting Minister for Industry, Commerce and Supplies Dilendra Prasad Badu on Tuesday. A team led by the Acting President of the Confederation, Krishna Prasad Adhikari met Industry Secretary Arjun Prasad Pokharel and asked IDM to give continuity to the previous provision of rental charge . A meeting of IDM held on June 6, 2021 had decided to collect the additional charges that were due since July 17, 2018.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The CNI expressed objection stating that IDM has been seeking demand charge for stored equipment, collecting fees even for the water extracted through boring by the industries themselves and raising the rent of the land in an unwanted manner. The executive chairman of the federation said that the industries cannot bear the increase in rent from 98 percent to 687 percent until the industries affected by Covid-19 are able to recover. He urged the concerned authorities to create a conducive working environment by quickly solving the problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The acting presiding of CNI also pointed out the need for restructuring the IDM. He argued that the decision of IDM will result in the collapse of existing industries and the country's dream of import substitution and export promotion through the promotion of manufacturing and industrial sectors will not be fulfilled.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">CNI informed that the IDM has denied extending contract period of land and also refused to issue recommendation letter for the industries to apply for bank loans in case they did not pay the new rate.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Minister Badu expressed his commitment to find a long-term solution after discussion with IDM. IDM has set different rates for manufacturing and non-manufacturing industries. Depending on the industrial sector, the rental fare is less or more.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-05', 'keywords' => '', 'description' => '', 'sortorder' => '15475', 'image' => '20220803025853_Industrial-Policy.jpg', 'article_date' => '2022-08-03 14:58:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15734', 'article_category_id' => '1', 'title' => 'PM Deuba Tells Ministers, Secretaries to Reduce Unnecessary Expenses', 'sub_title' => '', 'summary' => 'August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: Prime Minister Sher Bahadur Deuba has instructed government employees to reduce unnecessary expenses citing increase in fuel prices affecting the country's foreign exchange reserves.</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 a meeting at the Office of the Prime Minister and Council of Ministers in Singh Durbar on Tuesday, he urged the ministers and secretaries not provide vehicle facilities and fuel to employees or other officials except those who are entitled to receive such facilities.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Deuba also instructed the ministers and secretaries to work towards making the country become self-sufficient in vegetables and fruits within six months and self-reliant in food within one year. He directed all the ministries to make plans and work towards increasing electricity consumption and promoting exports. </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"">Similarly, PM Deuba said that consumption of the petroleum products should be gradually reduced while increasing consumption of hydroelectricity and directed the line agencies to introduce concrete plan of action for increasing consumption of hydroelectricity. </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"">Stating that the entire strength and vigour should be devoted for economic progress, social transformation and good-governance, the PM said the bottlenecks of development should be resolved through policy and institutional reforms by identifying those issues on time. </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, PM Deuba directed the ministers and secretaries to bring about positive changes in the service delivery to achieve good results through enhancement of the implementation capacity. </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 the meeting, PM Deuba said COVID-19 has had serious impact on our economic and social activities and our economy has witnessed external sector's pressure leading to challenges in all sectors of the economy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"But, the situation is not so worrisome. Growth in the recurrent expenditure should be controlled by strengthening policy implementation and regulation side. We should work to control inflation and ensure investment in the productive sector," the PM said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge of the time is to maintain economic stability and gradually bring reforms in the key indicators of economy, PM Deuba said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, PM Deuba urged all to speed up implementation of the development projects to contribute to SDGs target, and Nepal's graduation from the least developed country (LDC) by 2026. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15474', 'image' => '20220803100737_image_6483441.JPG', 'article_date' => '2022-08-03 10:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15732', 'article_category_id' => '1', 'title' => 'Chinese High Court Rules in Favour of Nepalese Banks', 'sub_title' => 'Court Orders Chinese Bank to Refund Counter Guarantee Amount to BoK and Himalayan Bank', 'summary' => 'August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).', 'content' => '<p><span style="font-size:16px">August 3: A Chinese court has ordered a Chinese bank to refund the counter guarantee amount of Bank of Kathmandu (BoK) and Himalayan Bank for the Melamchi Water Supply Project (MWSP).</span></p> <p><span style="font-size:16px">Following the high court order, the two banks of Nepal are all set to receive more than one and a half billion rupees for the counter guarantee of the project.</span></p> <p><span style="font-size:16px">CEO of BoK Shrawan Maskey confirmed that the Chinese high court ruled in their favour and expressed happiness about the prospect of receiving the money.</span></p> <p><span style="font-size:16px">“We have received information that we won the court case in China,” said Maskey, adding, “Now we will move ahead to claim the amount.”</span></p> <p><span style="font-size:16px">BoK and Himalayan Bank had provided counter guarantee of USD 66,25,010 and USD 14,11,453 respectively to China Railway which was assured the bank guarantee for the MWSP by the China Construction Bank.</span></p> <p><span style="font-size:16px">MWSP had terminated the contract with China Railway after it failed to undertake the project as per the agreement. MWSP then filed a case in the Chinese court seeking the guarantee amount. The Chinese court ruled that although the Nepalese banks had provided the guarantee amount to the project, they were yet to receive the counter guarantee amount from the Chinese bank.</span></p> <p><span style="font-size:16px">Earlier, China Railway had pleaded in the court that it the China Construction Company is not liable to pay the counter guarantee amount to the Nepalese banks. The two banks of Nepal then sent their representatives to China and fought a legal battle in the high court. CEO Maskey is hopeful of receiving the amount following the high court verdict.</span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => 'bank, guarantee, BoK, Himalayan, China, Railway, Construction, Melamchi, court, case, high', 'description' => '', 'sortorder' => '15473', 'image' => '20220803094438_istockphoto-900791430-612x612.jpg', 'article_date' => '2022-08-03 09:42:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15731', 'article_category_id' => '1', 'title' => 'Supreme Court Rejects Writ Petition against Finance Minister', 'sub_title' => '', 'summary' => 'August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 3: The Supreme Court has rejected a writ petition demanding a high-level investigation against Finance Minister Janardan Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Supreme Court Administration rejected the writ petition filed by the Consumer Interest Protection Forum demanding a high-level investigation against Finance Minister Sharma for his alleged role in allowing unauthorized persons to become part of the budget making process. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Registrar of the Supreme Court Narayan Prasad Panthi said that the writ petition was rejected as it was brought without completing the due process. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-03', 'modified' => '2022-08-03', 'keywords' => '', 'description' => '', 'sortorder' => '15472', 'image' => '20220803085524_Supreme Court.jpg', 'article_date' => '2022-08-03 08:54:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15730', 'article_category_id' => '1', 'title' => 'Industrial Meet Kicks off in Madhesh Province ', 'sub_title' => '', 'summary' => 'August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. T', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: An industrial meet of the Madhes Province is being organized in Birgunj for the first time after the formation of the provincial government. The industrial meet is underway in collaboration with Skills Enhancement for Employment Project (SEEP). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Minister of Madhes Province, Lal Babu Raut, Finance Minister of Madhes Province Shailendra Prasad Saha, province minister for land management, agriculture and cooperatives Bijaya Yadav, province minister for industry, tourism and forests Shatrughan Mahato, British ambassador to Nepal Nicola Pollitt, chief secretary of Madhes province Krishna Bahadur Raut attended the event. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Some 100 industrialists from the province are participating in the province-level industrial meet that concludes on Wednesday. Group and thematic discussions will be held regarding the steps to be taken for economic growth in the coming days. The meet will also review the progress of economic growth and reform measures to be undertaken in the days ahead. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, the province government awarded 23 industries contributing to enhancing employment and economic growth of the province. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15471', 'image' => '20220802033714_Industries.jpg', 'article_date' => '2022-08-02 15:36:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15729', 'article_category_id' => '1', 'title' => 'Weather Likely to Improve from Wednesday ', 'sub_title' => 'Light to moderate rain likely at many places of country today ', 'summary' => 'August 2: The weather across the nation is likely to improve from Wednesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The weather across the nation is likely to improve from Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather would improve from Wednesday as there is a possibility of the low pressure system moving towards India, weakening the monsoon, says meteorologist at the Department of Hydrology and Meteorology, Manju Basi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rainfall has been taking place in most of the places of the country since the past few days. </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 weather is generally to mostly cloudy throughout the country today with chances of light to moderate rain accompanied by thunder and lightning at many places, according to the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, there are chances of heavy rainfall in a few places of Province 1, Madhesh Province, Bagmati Province, Gandaki Province and Lumbini Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tonight, the weather will be partly to generally cloudy throughout the country. Light to moderate rain with thunder and lightning has been forecast at some places of the country with the possibility of heavy rain with thunder and lightning at one or two places of Bagmati Province, Gandaki Province, Lumbini Province, Karnali Province and Sudur Pashchim Province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the meteorological analysis of the division, the axis of monsoon trough at present is slightly towards north from the normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Monsoon which has been active since the past few days is likely to become weaker from Wednesday, resulting in improvement in weather condition. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15470', 'image' => '20220802032218_imgbiyP8PyF.jpg', 'article_date' => '2022-08-02 15:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15728', 'article_category_id' => '1', 'title' => '26K Tons of Maize Released from Ukraine Port', 'sub_title' => '', 'summary' => 'August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 2: A ship carrying grains left a port in Odessa, Ukraine in accordance with the historic agreement between Ukraine and Russia. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The agreement was signed a few weeks ago with the mediation of the United Nations and Turkey. According to the officials of Turkey and Ukraine, the ship holding the flag of Sierra Leone left the southern port of Odessa on Monday morning.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Exports of food and grains from Ukraine came to a halt after Russia began its invasion of Ukraine on February 24. As a result, the supply of wheat, soybean, corn and other grains was affected worldwide and the prices surged.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">With this, there is a hope that the global food crisis will come to an end and the price of grains will go down again. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the Joint Cooperation Center (JCC) established in Istanbul, the ship is carrying about 26,000 tons of corn as per the agreement. The ship is expected to arrive in Turkish waters for inspection on Tuesday.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Ukraine's Minister of Infrastructure Oleksandr Kubrakov wrote in a Facebook post that Ukraine will earn at least USD 1 billion in foreign exchange from grain export after the export from the port is allowed, and this will provide an opportunity for planning in the agricultural sector in the coming year. He also said that 16 ships are waiting to export grain from Odessa in the coming weeks.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Last month, a grain export agreement was signed between Russia and Ukraine for 120 days. As per the information, if both parties agree, then the term of the agreement can be extended. As the Ukrainian grain could not be exported, the price of bread, pasta and other foods made from wheat became more expensive across the globe. Besides, the price of edible oil and fertilizer also surged in the world market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the agreement, Russia will not target the port while the grain is being transported on the ship or in the waterway. Turkey will inspect the ship to ease Russia's suspicions of weapon smuggling on board. Grain will be exported from the ports of Odessa, Chornomorsk and Pivdenne in southern Ukraine.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15469', 'image' => '20220802023107_ukraine.jpg', 'article_date' => '2022-08-02 14:30:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15727', 'article_category_id' => '1', 'title' => 'Stakeholders Demand Strict Policy in Registering Cooperatives', 'sub_title' => '', 'summary' => 'August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">August 2: The Problematic Cooperatives Management Committee has suggested the government to tighten the registration process to control the anomalies seen in the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Submitting the annual report of the fiscal year 2020/2</span></span><span style="font-size:10.5pt"><span style="font-family:"Arial","sans-serif"">1</span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif""> to the Minister for Land Management, Cooperatives and Poverty Alleviation, Shashi Shrestha, the committee suggested the government to adopt strict measures while registering the cooperatives in order to curb the haphazard registration.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">All the three tiers of governments are doing everything from registration to regulation of cooperatives, which fall under the common jurisdiction of the federal, state and local levels. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Although the registration of savings and credit cooperatives have been stopped at the federal level, the state and local levels are still registering them except the Bagmati state government which closed the registration of savings and credit cooperatives some time ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee pointed out that cooperatives are not being operated as it should be and the institutions have become problematic due to non-compliance with the laws and regulations related to the cooperatives. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The committee suggests that effective implementation of laws related to the cooperatives as well as promotion of good governance in cooperatives is necessary to avoid problems. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the committee mentioned that the public trust in cooperatives can be increased only if they follow basic principles such as encouraging the process of merger between cooperatives with similar objectives, operating cooperatives with a strategy to reach the underprivileged, and operating in such a way that good governance is fully guaranteed.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Receiving the report of the committee, Minister Shrestha emphasized that all parties should be involved in making cooperatives accountable. She mentioned that the ministry has emphasized on a cooperative campaign and developing a self-sufficient economy by linking it with production. Explaining that the cooperatives are the backbone of economic development, Minister Shrestha urged the cooperatives to become member-oriented and professional.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15468', 'image' => '20220802015543_cooperative problematic.jpg', 'article_date' => '2022-08-02 13:55:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15726', 'article_category_id' => '1', 'title' => 'Government Preparing to Change Hydropower Development Modality', 'sub_title' => '', 'summary' => 'August 2: The government is preparing to change the hydropower development modality in the near future. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 2: The government is preparing to change the hydropower development modality in the near future. The government is planning to increase production of hydropower energy by adopting a flexible policy based on the feasibility of hydropower development projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the plan, the government will remain open towards the design of hydropower projects and will not impose any preconditions and limitations on it. It is believed that the hydropower projects will be able to generate more electricity by maximum utilization of water once the government lifts the restrictions on limitation and removes preconditions for developing hydropower projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower projects under the existing Q-40 modality are required to prepare the design while constructing the hydropower plants. There is a possibility of wastage of water under this modality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former energy secretary Anup Upadhyay says that the lower the Q level is while increasing the capacity of the project, the wastage of water will be less. If the provision of Q-40 is removed, the developers can adopt a modality to increase production while designing the project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has already removed the provision of designing the semi-reservoir projects (PROR) under the Q-40 model. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A board meeting of Nepal Electricity Authority on June 18 had decided to remove the provision of Q-40 for semi-reservoir projects. Such projects are now required to produce up to 70 percent energy of their installed capacity during rainy season and 30 percent during dry season. This provision was removed only for semi-reservoir based projects but will soon be implemented for reservoir-based hydropower projects as well. Minister for Energy, Hydropower and Irrigation Pampha Bhusal says that the government is holding extensive discussions about this topic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a programme organized in the capital on Sunday, Minister Bhusal said that the Government of Nepal is in favour of removing the provision of ‘Q’ considering its impact on climate change globally.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Bhusal said that the government is also preparing to open power purchase agreement of ROR projects. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Independent Power Producers Association of Nepal (IPPAN) is also positive about the government’s decision to remove the provision of ‘Q’. IPPAN is of the view that the existing provision has been causing a loss in production capacity of hydropower projects. IPPAN insists that the Q-40 provision is a hindrance to optimal use of hydropower projects and has urged the government to remove it for all kinds of projects.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to IPPAN President Krishna Acharya, hydropower projects in neighbouring India and Bhutan are built under Q-20 to Q-25 models while Sri Lanka has adopted a policy to develop such projects under the Q-20 model.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“However, Nepal has a provision of Q-40 which is not practical,” says Acharya.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He argues that the government can check the quality and standard of hydropower projects but should not set unnecessary preconditions on production limits.</span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15467', 'image' => '20220802010355_hydro.jpg', 'article_date' => '2022-08-02 13:03:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15725', 'article_category_id' => '1', 'title' => 'Rain Damages Araniko Highway Affecting Transportation ', 'sub_title' => '', 'summary' => 'August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: The road under the Araniko Highway at Daklang in Bhotekoshi Rural Municipality-4 has caved in due to incessant rainfall, affecting transportation. </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 a result, trucks and containers heading to China through Tatopani have been stranded. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Repair of the damaged road has started in coordination with the Department of Roads, informed the local police. </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"">Deputy Superintendent of Police Dakshya Kumar Basnet, information officer for the District Police Office, Sindhupalchowk, however said that transportation of small and light vehicles has been allowed. Tatopani is one of the two major trading points with China. However, supply of goods through this customs point has been irregular since the devastating earthquake seven years ago and the onset of coronavirus pandemic around two years ago. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15466', 'image' => '20220802120609_Tatopani.jpg', 'article_date' => '2022-08-02 12:05:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15724', 'article_category_id' => '1', 'title' => 'Labour Minister Insists on Accommodating Aspiring Workforce within the Country ', 'sub_title' => '', 'summary' => 'August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 2: Minister for Labour, Employment and Social Security, Sher Bahadur Kunwar, has pressed for the idea of creating a job atmosphere for domestic workforce within the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During a meeting of the Industry, Commerce, Labour, and Consumers Welfare Committee, of the House of Representatives on Monday, the minister said aspiring domestic workforce should be encouraged to explore work opportunities within the country. The meeting focused on issues concerning foreign employment and labour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister said that Nepal has been a good labour market for the people from India while Nepali workers go abroad seeking employment opportunities. It is necessary to make the workers here aware that they can find a labour market within the country and it could pay them as equally as the foreign employment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He insisted on sending only the people with adequate skills to foreign jobs, suggesting for the management of domestic workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Committee President Bimal Shriwastav was of the opinion of creating jobs for domestic workforce. He shared that during a monitoring of a steel industry, it was found that the number of workers from India was double than that of domestic workers and the scenario suggested the possibility of managing probable workforce internally. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Secretary at the labour ministry, Eknarayan Aryal said the ministry is working to promote internal labour market and at present, 145,113 are employed under the Prime Minister Employment Programme. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Director General of Department of Labour and Occupational Safety, Umakant Acharya, industrialists said they preferred workforce from outside the country as they performed more responsibly than domestic workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at the Department of Foreign Employment Shesh Narayan Paudel said there was a drop in number of Nepali nationals going abroad for jobs during the peak of COVID-19 pandemic and the figure had started going up with the slowdown in infection rate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Paudel, 642,000 people went for foreign employment in the fiscal year 2016-17 and this figure dropped to 166,000 during FY 2020-21 and it rose to 621,000 last fiscal year (FY 2021-22). -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-08-02', 'modified' => '2022-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '15465', 'image' => '20220802114329_1634599881.4.jpg', 'article_date' => '2022-08-02 11:42:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15721', 'article_category_id' => '1', 'title' => 'IOC Lowers Fuel Prices, Will NOC Slash the Prices?', 'sub_title' => '', 'summary' => 'August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: The Indian Oil Corporation (IOC) has sent a revised list of prices of petroleum products to Nepal Oil Corporation (NOC) after reduction in fuel prices. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As per the revised list received by the state-owned oil company of Nepal on Monday, the price of petrol has been reduced by Rs 16. 80 per litre. Likewise, the price of diesel and kerosene has been reduced by Rs 12. 45 per litre.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">On July 15, IOC had reduced the price of petrol by Rs 15. 76 and diesel by Rs 16. 56 per litre. However, NOC is yet to adjust the price of petroleum products stating that it is still in internal loss despite the reduction in price list sent by the IOC. The NOC has not yet made its views public regarding whether it will lower the price of fuel or not.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">NOC insists it is still bearing a loss of Rs 14.19 on a litre of petrol and a loss of Rs 21. 92 per litre of diesel/kerosene.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The IOC reduced the price of petroleum products after a decline in fuel prices in the international market. The price of Brent crude oil in the international market currently stands at USD 103 per barrel.</span></span></p> <p> </p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""> </span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15464', 'image' => '20220801041923_1659345984_.jpg', 'article_date' => '2022-08-01 16:18:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15722', 'article_category_id' => '1', 'title' => '‘It is Normal for Cable Car to Halt’', 'sub_title' => '', 'summary' => 'August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">August 1: Chandragiri Hills Limited, which has been operating cable car in Chandragiri on the outskirts of Kathmandu, has clarified that it is normal for the cable car to halt all of a sudden due to electricity short supply or other technical reasons. The company assured that such activity is of no harm to the passengers.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The company organized a press conference to inform about the security of cable car after news reports raised serious questions about the cable car coming to a sudden halt.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Organising the press meet in the capital on Friday, the company informed media persons about the technical aspects of cable car and the procedures they adopt when it comes to a sudden halt. The company made a live demonstration to the media persons by halting the cable car travelled by around 100 media persons for ten minutes.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the company’s engineer Saroj Chapagain, the cable car will come to a halt if the power goes off all of a sudden or if there is any problem related to automated system or the software of the cable car. The company claimed that it has kept generator produced by the world’s most reliable company standby just in case there is an emergency. According to the company, it has a one-megawatt capacity generator at the bottom station of the cable car.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the passengers will be taken to the top or the bottom station safely if through ‘emergency drive’ if the generator fails to operate due to technical glitches. The company said that it will take around 45 minutes to safely carry all the passengers of thirty eight cabins through the use of emergency drive.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">During normal situation, the cable car operates at a speed of five meters per second. However, during emergency drive, the speed is one meter per second due to which it will take around 40 to 45 minutes for the passengers to reach the top or the bottom station.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chapagain said that the cable car cabins might swing in case there is windstorm and the passengers often panic during such situation.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“How much it swings, it will not break off,” assured Chapagain.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Chairman of Chandragiri Hills Limited, Chandra Prasad Dhakal, informed that the incidents of cable car coming to a halt is prevalent worldwide. He recalled that the cable car used by former Prime Minister KP Sharma Oli during his visit to Geneva came to a standstill for almost two hours. Dhakal was also in the delegation led by Oli.</span></span></p> ', 'published' => true, 'created' => '2022-08-01', 'modified' => '2022-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '15463', 'image' => '20220801055657_Pro_Ktm_Cablecare1.jpg', 'article_date' => '2022-08-01 17:56:10', '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
