November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard…
November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard…
November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume…
November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided…
November 19: Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development…
November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two…
November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal…
November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor…
November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division…
November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation…
November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs…
November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector.…
November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the…
November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10th National Tax…
NRB Report Paints Mixed Picture of Economy November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in…
November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thailand's Ambassador to Nepal Vosita Vorasaph confirmed the resumption of flights during a courtesy call with Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale at the latter's office in Singha Durbar on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Ale thanked Ambassador Vorasaph for the Thai government's assistance to Lumbini area in Nepal and urged him to provide help for Maternity Hospital in Lumbini. He also urged the ambassador to facilitate visas for Nepalis going to Thailand and manage concessional medical treatment for them in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ale stressed the need for Nepal and Thailand to make maximum efforts to further strengthen the historic relations between the two countries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '14071', 'image' => '20211119084106_Flag-Pins-Nepal-Thailand.jpg', 'article_date' => '2021-11-19 08:40:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14325', 'article_category_id' => '1', 'title' => 'India to Provide Promised Monetary Support for Development of Janakpurdham ', 'sub_title' => '', 'summary' => 'November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Talking briefly with journalists on his arrival at Janakpurdham in course of a religious visit, BJP Spokesperson Vijay Sonkar Shastri said the relations between Nepal and India dates back to time immemorial. According to the state-owned national news agency RSS, Shastri asserted that the Government of India would provide the pledged amount soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The BJP spokesperson also stated that the Ramayana Circuit Railway Scheme also included Janakpurdham. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his visit to the Janaki Temple, the priest of the temple Ram Tapeshwor Das suggested Shastri to take initiatives for checking smuggling of cows that is reportedly taking place from Nepal to India, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Killing of cows is banned in Nepal. But cows are slaughtered in India although there are four Shankaracharyas there. This should be stopped. Please, convey my message to Prime Minister Narendra Modi," the priest of the Janaki temple reportedly told Shastri. </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"">Modi, during his visit to Janakpurdham on May 11, 2018, had announced to provide Rs 1 billion for the development of the city that holds religious and cultural significance for both Nepal and India.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14070', 'image' => '20211119083533_20170708031746_Clipboard27.jpg', 'article_date' => '2021-11-19 08:35:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14324', 'article_category_id' => '1', 'title' => 'Finance Minister Stresses on Simplifying Development Laws', 'sub_title' => '', 'summary' => 'November 19: Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 19: <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative. He said that unclear laws and other hurdles had hampered big projects and expressed that such laws need to be revised. According to the state-owned national news agency RSS, the finance minister made such remarks during a recent discussion held at the finance ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also stressed on the need of policies capable of simplifying the operations of big projects by removing unnecessary hurdles. He insisted that projects capable of bringing positive change in the financial aspects of people’s life should be selected and their smooth implementation be ensured. He pointed out the need of identifying projects on basis of the real needs of the people and not on the basis of political influence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister claimed that the lawmakers in the past endorsed laws without making in-depth study of the topic. This has caused the existing problems in the development process, added minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Secretary Shanker Das Bairagi, Finance Secretary Madhu Kumar Marasini and secretaries and representatives from different ministries were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The discussion focused on the existing procurement law, challenges in the achievement of the target of capital expenditure, status of the coordination among bodies concerned and fiscal discipline among others. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14069', 'image' => '20211119082325_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-19 08:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14323', 'article_category_id' => '1', 'title' => 'Nepal and India Discuss Energy Cooperation ', 'sub_title' => '', 'summary' => 'November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries.', '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"">November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries. </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 three-member delegation led by Energy Secretary Devendra Karki held positive discussion on bilateral energy cooperation with Indian Energy Secretary Alok Kumar in the Indian capital New Delhi recently.</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"">Matters relating to water resources and irrigation, cooperation in the energy sector and its various dimensions were discussed, according to Madhu Prasad Bhetwal, joint secretary and spokesperson of the Ministry of Energy. Spokesperson Bhetwal shared that a positive dialogue was held regarding issues of bilateral and common interests in the energy sector in New Delhi on November 16. The delegation led by the energy secretary returned home on Wednesday. -- RSS</span></span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14068', 'image' => '20211119080450_Energy Cooperation (5).jpg', 'article_date' => '2021-11-19 08:03:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14321', 'article_category_id' => '1', 'title' => 'CAAN Fails to Pass its Budget ', 'sub_title' => '', 'summary' => 'November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale, who is also the chariman of CAAN, and other board members haven't shown interest in this issue. CAAN has proposed a budget of 41 billion for the current fiscal year to cover expenses of various projects including national pride projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of CAAN said that the newly-appointed minister hasn't focused on the CAAN budget because of his busy schedule. "The minister has been very busy and has not been able to focus on the budget of CAAN, although we are hopeful that the current year's budget will be passed soon," said the source requesting anonymity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Even though the budget has not been passed, CAAN has been releasing money by mobilizing a portion of the budget of last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Even now there is a delay in passing the budget, it will have a big impact on the current expenditure of CAAN and the projects it has been overseeing. However, the budget has not been passed even after getting the departmental minister," the officer said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba's government had appointed Ale as the Minister of Culture, Tourism, and Civil Aviation on September 8. However, CAAN's budget has not been approved even after a month of his appointment. CAAN's budget is not a priority for ministers and board members. The tourism minister is the chairman of the board of CAAN. Likewise, the undersecretary of the ministry is also a board member, while the Director-General of CAAN is the member secretary of the board. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajkumar Kshetry is currently the Director-General of CAAN, and also be the member secretary of the board. CAAN's budget and agenda should be presented in the board meeting by the Member Secretary.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> However, no board meeting has been held in the last one month. Sources claim that the board meeting could not be held due to the busy schedule of the minister and board members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the total budget of CAAN in the last fiscal year was Rs. 41.11 billion. Of that, the capital expenditure alone was Rs 30.64 billion out of which only Rs 16.82 billion could be spent, the annual progress report of CAAN states. The revenue of CAAN, which is dependent on revenue from air services, had also declined in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The officials of the authority said that there was no problem as the airport infrastructure projects were going on multi-year contracts. However, CAAN can face issues soon as there is no immediate release of the budget. The authority manages the infrastructure projects of 54 airports including, Gautam Buddha International Airport and Pokhara Regional International Airport.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14067', 'image' => '20211118020107_1637192833.jpg', 'article_date' => '2021-11-18 14:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14320', 'article_category_id' => '1', 'title' => 'Kumari Bank Recovers Loan Disbursed by Keeping Forged Document as Collateral', 'sub_title' => '', 'summary' => 'November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the bank, it has already settled the case where the land ownership document was forged and loan was withdrawn. The land was originally registered in the name of singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Anuj Mani Timilsina, acting chief executive officer (CEO) of Kumari Bank, said that the bank collected Rs 190 million from the concerned person as soon as the collateral for the loan was identified to be fake. “We took action immediately to settle the loan three months ago after the bank found out that the collateral submitted for the loan was found to be fake,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Kumari Bank had approved the loan of Rs 190 million on the basis of documents submitted by Daniel Trading Company last July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“The bank had given approval for the loan after completing all the procedures. The previous year’s balance sheet of the company was also taken into consideration. When the loan was disbursed, all the major things that the bank looked at, such as the ability of the company to repay the loan seemed positive. Even before the loan was approved, the potential risks were investigated closely, but the collateral was compromised. When we found out, we took action immediately to settle the case,” said CEO Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The loan was given to Daniel Trading to buy land from Biruwa Bhumi Bankali Company. CEO Timilsina clarified that the bank did not find any irregularity during the process of disbursing the loan.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“When it was found out that the land mortgage was forged, the bank contacted the debtors and were asked to repay the loan. The loan was repaid after some time,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, an investigation is underway into the disbursement of loan of Rs 190 million from Kumari Bank by keeping fake land ownership document as collateral. The District Public Prosecutor's Office, Kathmandu, on Monday directed the police to investigate the case of banking malpractice. Earlier, the Central Investigation Bureau (CIB) of the police were investigating a case of forgery related to this issue.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14066', 'image' => '20211118014557_jpg.jpg', 'article_date' => '2021-11-18 13:45:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14322', 'article_category_id' => '1', 'title' => 'Low Pressure System Causes Cloudy Weather with Chances of Snowfall ', 'sub_title' => '', 'summary' => 'November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather is partly to generally cloudy in Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while it is partly cloudy in the rest of the country due to the impact of this system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley experienced chilly weather since today morning (November 18) due to the cloudy condition. Although the temperature is stable, the cold weather is experienced due to lack of sunshine. The maximum temperature in Kathmandu was 22 degrees Celsius and the minimum 9 degrees Celsius in the last 24 hours. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Weather forecast for the next three days</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the weather forecast bulletin for the next three days, it will be partly to generally cloudy in Province 1, Bagmati, Lumbini, Gandaki and Sudurpaschim provinces, and partly cloudy in the rest of the provinces towards the afternoon today. The same weather condition is forecast for tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, it will be partly to generally cloudy in Sudurpaschim, Karnali, Lumbini and Gandaki provinces as well as in the hill areas of Bagmati Province and Province 1. It will be partly cloudy in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall is in forecast at a few places of high hills and mountainous region, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday, the weather will be partly to generally cloudy throughout Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while partly cloudy weather is expected in the rest of the country. There is possibility of light snowfall at some places in the mountainous regions of Gandaki and Karnali provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14065', 'image' => '20211118020901_1637218955.jpg', 'article_date' => '2021-11-18 14:08:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14318', 'article_category_id' => '1', 'title' => 'Mayor of Melamchi Warns to Halt Water Supply if their Problems are not Resolved', 'sub_title' => '', 'summary' => 'November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists. Aryal made such remark while speaking at the 11th Annual General Meeting of the Hyolmo Sindhu Melamchi Valley Social Upliftment Program Steering Committee, held in Melamchi on Tuesday. During the program, Mayor Aryal warned of blocking the water supply to Kathmandu from Melamchi river if the Melamchi Water Supply Project does not take initiative to resolve the problems caused by floods and landslides in Melamchi and Helambu areas.</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:"Times New Roman","serif"">The mayor expressed his discontent saying that the project officials have not shown any interest to address the problem even after witnessing the damages caused by floods. “We cannot send water in the current situation. It is not possible until the debris at the project site is properly removed,” said the mayor. He also shared his disappointment saying, “Despite repeated requests for talks, they have not come in contact with us so far.”</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:"Times New Roman","serif"">Mayor Aryal has requested the officials of the Melamchi Water Supply Project to study the status of Melamchi and warned that the water would not be sent to Kathmandu if the project officials prefer to stay in Kathmandu rather than visit the area for inspection.</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:"Times New Roman","serif"">Aryal suggested the officials to move ahead only by making a sustainable plan and bear responsibility. </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:"Times New Roman","serif"">Chandra Bahadur Thapa, one of the board members of Melamchi Water Supply Development Board, said that the drinking water project was helping the flood-affected areas and assured that they are committed to resolve the problems that would arise in the upcoming days as well. "We have been requesting the project for budget allocation in the productive sector. The problems of the locals will be definitely addressed", said Thapa.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14064', 'image' => '20211118122748_melamchi-water-supply-project-mwsp-l.jpg', 'article_date' => '2021-11-18 12:26:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14319', 'article_category_id' => '1', 'title' => 'Five held for Printing Counterfeit Currency Notes ', 'sub_title' => '', 'summary' => 'November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of police from the Metropolitan Police Circle, Bouddha on Wednesday evening arrested five individuals red-handed while printing fake currency notes at the room of Samaraj Thapamagar in Budhanilakantha Municipality-11, Kapan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among those arrested are Goma Shrestha, 56, and Pushpa Thapamagar, 41, of Indrawati Rural Municipality-8 (Sindhupalchowk), Chiranjibi Joti, 19, and Sujan Joti, 23, of Helambu Rural Municipality-2 (Sindhupalchowk). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson of Metropolitan Police Range, Kathmandu, SP Ramesh Kumar Basnet informed that the police squad arrested Shrestha while she was purchasing goods with the fake currency notes at Gokarneswor Municipality-7, Daksindhoka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting on the information received from Shrestha in course of investigation, the police team arrested four others for their alleged involvement in fake currency racket, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with the fake currency notes, the police confiscated color printer, papers, paper cutter, mobile and other devices used to produce the counterfeit notes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14063', 'image' => '20211118123611_20170504043659_bank note.jpg', 'article_date' => '2021-11-18 12:35:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14317', 'article_category_id' => '1', 'title' => 'Bankers ask NRB to raise CD Ratio to 92 Percent', 'sub_title' => '', 'summary' => 'November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. The current provision requires the CD ratio to be 90 percent while the banks have demanded the CD ratio to be increased to 92 percent.</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:"Times New Roman","serif"">A team of Nepal Bankers' Association met with Nepal Rastra Bank’s Governor Maha Prasad Adhikari and urged the central bank to address the issue in the first quarterly review of the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank had implemented the CD ratio of 90 percent after scrapping the CCD ratio of 85 percent through the monetary policy. "We have demanded the CD ratio to be raised to 92 percent,” said Santosh Koirala, a member of the bankers’ association and CEO of Machhapuchhre Bank.</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:"Times New Roman","serif"">At present, the CD ratio of banks is maintained around 90 percent. The banks have made such a demand since they have been unable to extend any new loans. Koirala said that banks have demanded to increase the CD ratio as an alternative since it is less likely that new deposits will be pouring in.</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:"Times New Roman","serif"">He said the situation is likely to be normal by the next fiscal year when the CD ratio can again be maintained at 90 percent through the new monetary policy. Banking sector is reeling through a liquidity crunch since last July due to high credit flow and insufficient deposit collection. </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:"Times New Roman","serif"">On the other hand, the government has not been able to spend the budget in the current fiscal year. The biggest source of bank deposits is government expenditure. As a result, there is a shortage of deposits in the banking sector. In addition, the remittance inflow has also declined affecting deposit collection.</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:"Times New Roman","serif"">The bankers’ association has also demanded flexibility on liquidity ratio and Cash Reserve Ratio (CRR). The association has also urged the central bank to review the differences in interest rate, service fee and base rate provisions. </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:"Times New Roman","serif"">Banks have also demanded to allow them to issue SME bonds, convertible bonds and permanent bonds with flexibility in the limits of investment in designated areas. Similarly, they have demanded to review interest rate on refinancing loans, and provisions to deposit in Indian bank in a way that would earn interest.</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:"Times New Roman","serif"">They have also sought to establish a fintech company as a subsidiary to promote digital banking. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14062', 'image' => '20211118115019_Banks.jpg', 'article_date' => '2021-11-18 11:49:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14316', 'article_category_id' => '1', 'title' => 'Government to Set up Mechanism to Hear Taxpayers' Complaints ', 'sub_title' => '', 'summary' => 'November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing a programme organized at the Inland Revenue Department (IRD) on the occasion of the 10th Tax Day on Wednesday (November 17), Finance Minister Sharma said the government would not leave any stone unturned to address the grievances of the tax-payers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed commitment to form a unit to promptly address the hassles and obstacles that surface in the tax administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The grievances of the tax-payers should be heard. A unit would be formed immediately. I will form a mechanism for prompt action," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The finance minister added that a vehicle scanner would be kept at each customs office for facilitating the customs process. He also asserted that the government would act tough to stop tax evasion and revenue leakage, and there would not be any discrimination against any tax-payer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also directed the customs officials and government employees to consider themselves as the servants of the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the occasion, Finance Secretary Madhu Kumar Marasini stressed on stability of tax policy to create investment-friendly environment in the country. He said that the government has adopted the policy of expanding the tax purview but not increasing the tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary (Revenue) Krishna Hari Pushkar said the government has carried out policy and process related works with the objective of improving the tax administration and encouraging the tax payers to pay the tax voluntarily. He also pointed out to the need of reforms in the revenue administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department Shovakanta Poudel claimed that the tax administration has become tax-payer friendly, investment-friendly and technology-friendly due to the reforms introduced on topics such as policy strengthening, procedural simplification, system reforms, tax education and awareness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, FNCCI president Shekhar Golchha said the industrialists and businessmen were ready to pay tax, and urged the government to create a dignified business environment. He suggested the government to make the tax administration prompt and efficient. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting president of Confederation of Nepalese Industries, Krishna Prasad Adhikari stressed on the need of making the tax system transparent and drew the government's attention towards maintaining a pluralistic tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Chamber of Commerce president Rajendra Malla suggested bringing the real estate businesspersons also into the tax net. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highest tax-payers and the department's employees were honoured on the occasion. The finance minister also unveiled the annual report and the revenue investigation procedures published by the department. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14061', 'image' => '20211118080827_20211011084727_IMG_3818.jpg', 'article_date' => '2021-11-18 08:07:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14314', 'article_category_id' => '1', 'title' => 'IRD Felicitates Highest Taxpayers', 'sub_title' => '', 'summary' => 'November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10th National Tax Day.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10<sup>th</sup> National Tax Day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Janadran Sharma and Director General of IRD Shovakanta Poudel felicitated the highest taxpayer and the representatives of the highest taxpaying organization amid a special function.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The IRD declared Nepal Telecom as the highest taxpaying organization while the chairman of Sipradi Trading Siddhartha Shumsher Rana was announced the highest taxpayer in individual category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the department also felicitated Purbanchal Agrotech as the highest taxpayer in agriculture sector while Nobel Hospital and Taragaun Regency bagged the honours in health and education and tourism sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the commercial banks, Nabil Bank was declared the highest taxpayer while Nepal Reinsurance Company was adjudged the highest taxpayer among insurance companies. Similarly, Chhemek Laghubitta bagged the honours in microfinance category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other organisations that were felicitated by the IRD as highest taxpayers in their respective categories include Himal Power Limited (Hydropower), Dabur Nepal (Industry), Bhatbhateni Supermarket (Commodity Business) and Asian Paints (Special Industry Category).</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14059', 'image' => '20211117050307_1637140860.jpg', 'article_date' => '2021-11-17 17:02:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14313', 'article_category_id' => '1', 'title' => 'NRB Report Paints Mixed Picture of Economy', 'sub_title' => '', 'summary' => 'NRB Report Paints Mixed Picture of Economy November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis. Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion. Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14058', 'image' => '20211117042320_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-11-17 16:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14312', 'article_category_id' => '1', 'title' => 'Preparation Afoot to Increase Flight Frequency between India and Nepal', 'sub_title' => 'Indian Embassy proposes 56 flights per week', 'summary' => 'November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases. Discussions have been held between the two governments to increase the number of flights to 56 flights a week through air bubble agreement.</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:"Times New Roman","serif"">The Indian Embassy has reportedly asked the Ministry of Culture, Tourism and Civil Aviation to increase the number of flights. At present, there are 14 flights a week along the Kathmandu-Delhi route. It has seven flights from Nepal and India each.</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:"Times New Roman","serif"">The number of flights between Nepal-India was reduced due to the surge in Covid-19 cases.</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:"Times New Roman","serif"">According to Buddhisagar Lamichhane, Joint Secretary at the Civil Aviation Division of the Ministry, the number of flights will be increased to 56 flights a week from 14 flights, as per the air bubble agreement.</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:"Times New Roman","serif"">"There is a proposal from the Indian embassy to increase the number of flights," he said.</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:"Times New Roman","serif"">Stating that India has now proposed to operate 28 flights each from the air operators of both the countries, he added that Nepal is positive about it and the same number of flights could be finalized.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14057', 'image' => '20211117122510_20191031120033_1572142676.jpg', 'article_date' => '2021-11-17 12:24:12', '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' => '14327', 'article_category_id' => '1', 'title' => 'Government Halts Production and Sale of Three Cement Industries', 'sub_title' => '', 'summary' => 'November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a press statement, the bureau informed that it has halted production and sale of OPC cement of Maruti Cement and United Cement and PPC cement of Jagadamba Cement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the bureau, it had collected samples of OPC Grade 43 cement produced by Siraha-based Maruti Cement for inspection and found that the quality of the sample was not on par with the required standard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has directed the company to bring back the cement from the market and submit a written explanation within 15 days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the OPC Grade 53 cement produced by Dhading-based United Cement also does not meet the required standard, according to the bureau.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has also sought clarification from the industry within 15 days and ordered to bring back its products from the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the quality of PPC cement produced by Rupandehi-based Jagadamba Cement was also not as per the required standard. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagadamba Cement has also been asked to give a written explanation within 15 days and stop the sale of PPC cement. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14072', 'image' => '20211119114308_20150820120744_cn.jpg', 'article_date' => '2021-11-19 11:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14326', 'article_category_id' => '1', 'title' => 'Kathmandu-Bangkok Flight to Resume Soon', 'sub_title' => '', 'summary' => 'November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thailand's Ambassador to Nepal Vosita Vorasaph confirmed the resumption of flights during a courtesy call with Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale at the latter's office in Singha Durbar on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Ale thanked Ambassador Vorasaph for the Thai government's assistance to Lumbini area in Nepal and urged him to provide help for Maternity Hospital in Lumbini. He also urged the ambassador to facilitate visas for Nepalis going to Thailand and manage concessional medical treatment for them in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ale stressed the need for Nepal and Thailand to make maximum efforts to further strengthen the historic relations between the two countries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '14071', 'image' => '20211119084106_Flag-Pins-Nepal-Thailand.jpg', 'article_date' => '2021-11-19 08:40:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14325', 'article_category_id' => '1', 'title' => 'India to Provide Promised Monetary Support for Development of Janakpurdham ', 'sub_title' => '', 'summary' => 'November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Talking briefly with journalists on his arrival at Janakpurdham in course of a religious visit, BJP Spokesperson Vijay Sonkar Shastri said the relations between Nepal and India dates back to time immemorial. According to the state-owned national news agency RSS, Shastri asserted that the Government of India would provide the pledged amount soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The BJP spokesperson also stated that the Ramayana Circuit Railway Scheme also included Janakpurdham. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his visit to the Janaki Temple, the priest of the temple Ram Tapeshwor Das suggested Shastri to take initiatives for checking smuggling of cows that is reportedly taking place from Nepal to India, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Killing of cows is banned in Nepal. But cows are slaughtered in India although there are four Shankaracharyas there. This should be stopped. Please, convey my message to Prime Minister Narendra Modi," the priest of the Janaki temple reportedly told Shastri. </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"">Modi, during his visit to Janakpurdham on May 11, 2018, had announced to provide Rs 1 billion for the development of the city that holds religious and cultural significance for both Nepal and India.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14070', 'image' => '20211119083533_20170708031746_Clipboard27.jpg', 'article_date' => '2021-11-19 08:35:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14324', 'article_category_id' => '1', 'title' => 'Finance Minister Stresses on Simplifying Development Laws', 'sub_title' => '', 'summary' => 'November 19: Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 19: <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative. He said that unclear laws and other hurdles had hampered big projects and expressed that such laws need to be revised. According to the state-owned national news agency RSS, the finance minister made such remarks during a recent discussion held at the finance ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also stressed on the need of policies capable of simplifying the operations of big projects by removing unnecessary hurdles. He insisted that projects capable of bringing positive change in the financial aspects of people’s life should be selected and their smooth implementation be ensured. He pointed out the need of identifying projects on basis of the real needs of the people and not on the basis of political influence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister claimed that the lawmakers in the past endorsed laws without making in-depth study of the topic. This has caused the existing problems in the development process, added minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Secretary Shanker Das Bairagi, Finance Secretary Madhu Kumar Marasini and secretaries and representatives from different ministries were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The discussion focused on the existing procurement law, challenges in the achievement of the target of capital expenditure, status of the coordination among bodies concerned and fiscal discipline among others. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14069', 'image' => '20211119082325_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-19 08:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14323', 'article_category_id' => '1', 'title' => 'Nepal and India Discuss Energy Cooperation ', 'sub_title' => '', 'summary' => 'November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries.', '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"">November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries. </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 three-member delegation led by Energy Secretary Devendra Karki held positive discussion on bilateral energy cooperation with Indian Energy Secretary Alok Kumar in the Indian capital New Delhi recently.</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"">Matters relating to water resources and irrigation, cooperation in the energy sector and its various dimensions were discussed, according to Madhu Prasad Bhetwal, joint secretary and spokesperson of the Ministry of Energy. Spokesperson Bhetwal shared that a positive dialogue was held regarding issues of bilateral and common interests in the energy sector in New Delhi on November 16. The delegation led by the energy secretary returned home on Wednesday. -- RSS</span></span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14068', 'image' => '20211119080450_Energy Cooperation (5).jpg', 'article_date' => '2021-11-19 08:03:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14321', 'article_category_id' => '1', 'title' => 'CAAN Fails to Pass its Budget ', 'sub_title' => '', 'summary' => 'November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale, who is also the chariman of CAAN, and other board members haven't shown interest in this issue. CAAN has proposed a budget of 41 billion for the current fiscal year to cover expenses of various projects including national pride projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of CAAN said that the newly-appointed minister hasn't focused on the CAAN budget because of his busy schedule. "The minister has been very busy and has not been able to focus on the budget of CAAN, although we are hopeful that the current year's budget will be passed soon," said the source requesting anonymity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Even though the budget has not been passed, CAAN has been releasing money by mobilizing a portion of the budget of last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Even now there is a delay in passing the budget, it will have a big impact on the current expenditure of CAAN and the projects it has been overseeing. However, the budget has not been passed even after getting the departmental minister," the officer said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba's government had appointed Ale as the Minister of Culture, Tourism, and Civil Aviation on September 8. However, CAAN's budget has not been approved even after a month of his appointment. CAAN's budget is not a priority for ministers and board members. The tourism minister is the chairman of the board of CAAN. Likewise, the undersecretary of the ministry is also a board member, while the Director-General of CAAN is the member secretary of the board. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajkumar Kshetry is currently the Director-General of CAAN, and also be the member secretary of the board. CAAN's budget and agenda should be presented in the board meeting by the Member Secretary.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> However, no board meeting has been held in the last one month. Sources claim that the board meeting could not be held due to the busy schedule of the minister and board members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the total budget of CAAN in the last fiscal year was Rs. 41.11 billion. Of that, the capital expenditure alone was Rs 30.64 billion out of which only Rs 16.82 billion could be spent, the annual progress report of CAAN states. The revenue of CAAN, which is dependent on revenue from air services, had also declined in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The officials of the authority said that there was no problem as the airport infrastructure projects were going on multi-year contracts. However, CAAN can face issues soon as there is no immediate release of the budget. The authority manages the infrastructure projects of 54 airports including, Gautam Buddha International Airport and Pokhara Regional International Airport.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14067', 'image' => '20211118020107_1637192833.jpg', 'article_date' => '2021-11-18 14:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14320', 'article_category_id' => '1', 'title' => 'Kumari Bank Recovers Loan Disbursed by Keeping Forged Document as Collateral', 'sub_title' => '', 'summary' => 'November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the bank, it has already settled the case where the land ownership document was forged and loan was withdrawn. The land was originally registered in the name of singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Anuj Mani Timilsina, acting chief executive officer (CEO) of Kumari Bank, said that the bank collected Rs 190 million from the concerned person as soon as the collateral for the loan was identified to be fake. “We took action immediately to settle the loan three months ago after the bank found out that the collateral submitted for the loan was found to be fake,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Kumari Bank had approved the loan of Rs 190 million on the basis of documents submitted by Daniel Trading Company last July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“The bank had given approval for the loan after completing all the procedures. The previous year’s balance sheet of the company was also taken into consideration. When the loan was disbursed, all the major things that the bank looked at, such as the ability of the company to repay the loan seemed positive. Even before the loan was approved, the potential risks were investigated closely, but the collateral was compromised. When we found out, we took action immediately to settle the case,” said CEO Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The loan was given to Daniel Trading to buy land from Biruwa Bhumi Bankali Company. CEO Timilsina clarified that the bank did not find any irregularity during the process of disbursing the loan.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“When it was found out that the land mortgage was forged, the bank contacted the debtors and were asked to repay the loan. The loan was repaid after some time,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, an investigation is underway into the disbursement of loan of Rs 190 million from Kumari Bank by keeping fake land ownership document as collateral. The District Public Prosecutor's Office, Kathmandu, on Monday directed the police to investigate the case of banking malpractice. Earlier, the Central Investigation Bureau (CIB) of the police were investigating a case of forgery related to this issue.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14066', 'image' => '20211118014557_jpg.jpg', 'article_date' => '2021-11-18 13:45:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14322', 'article_category_id' => '1', 'title' => 'Low Pressure System Causes Cloudy Weather with Chances of Snowfall ', 'sub_title' => '', 'summary' => 'November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather is partly to generally cloudy in Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while it is partly cloudy in the rest of the country due to the impact of this system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley experienced chilly weather since today morning (November 18) due to the cloudy condition. Although the temperature is stable, the cold weather is experienced due to lack of sunshine. The maximum temperature in Kathmandu was 22 degrees Celsius and the minimum 9 degrees Celsius in the last 24 hours. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Weather forecast for the next three days</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the weather forecast bulletin for the next three days, it will be partly to generally cloudy in Province 1, Bagmati, Lumbini, Gandaki and Sudurpaschim provinces, and partly cloudy in the rest of the provinces towards the afternoon today. The same weather condition is forecast for tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, it will be partly to generally cloudy in Sudurpaschim, Karnali, Lumbini and Gandaki provinces as well as in the hill areas of Bagmati Province and Province 1. It will be partly cloudy in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall is in forecast at a few places of high hills and mountainous region, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday, the weather will be partly to generally cloudy throughout Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while partly cloudy weather is expected in the rest of the country. There is possibility of light snowfall at some places in the mountainous regions of Gandaki and Karnali provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14065', 'image' => '20211118020901_1637218955.jpg', 'article_date' => '2021-11-18 14:08:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14318', 'article_category_id' => '1', 'title' => 'Mayor of Melamchi Warns to Halt Water Supply if their Problems are not Resolved', 'sub_title' => '', 'summary' => 'November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists. Aryal made such remark while speaking at the 11th Annual General Meeting of the Hyolmo Sindhu Melamchi Valley Social Upliftment Program Steering Committee, held in Melamchi on Tuesday. During the program, Mayor Aryal warned of blocking the water supply to Kathmandu from Melamchi river if the Melamchi Water Supply Project does not take initiative to resolve the problems caused by floods and landslides in Melamchi and Helambu areas.</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:"Times New Roman","serif"">The mayor expressed his discontent saying that the project officials have not shown any interest to address the problem even after witnessing the damages caused by floods. “We cannot send water in the current situation. It is not possible until the debris at the project site is properly removed,” said the mayor. He also shared his disappointment saying, “Despite repeated requests for talks, they have not come in contact with us so far.”</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:"Times New Roman","serif"">Mayor Aryal has requested the officials of the Melamchi Water Supply Project to study the status of Melamchi and warned that the water would not be sent to Kathmandu if the project officials prefer to stay in Kathmandu rather than visit the area for inspection.</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:"Times New Roman","serif"">Aryal suggested the officials to move ahead only by making a sustainable plan and bear responsibility. </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:"Times New Roman","serif"">Chandra Bahadur Thapa, one of the board members of Melamchi Water Supply Development Board, said that the drinking water project was helping the flood-affected areas and assured that they are committed to resolve the problems that would arise in the upcoming days as well. "We have been requesting the project for budget allocation in the productive sector. The problems of the locals will be definitely addressed", said Thapa.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14064', 'image' => '20211118122748_melamchi-water-supply-project-mwsp-l.jpg', 'article_date' => '2021-11-18 12:26:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14319', 'article_category_id' => '1', 'title' => 'Five held for Printing Counterfeit Currency Notes ', 'sub_title' => '', 'summary' => 'November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of police from the Metropolitan Police Circle, Bouddha on Wednesday evening arrested five individuals red-handed while printing fake currency notes at the room of Samaraj Thapamagar in Budhanilakantha Municipality-11, Kapan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among those arrested are Goma Shrestha, 56, and Pushpa Thapamagar, 41, of Indrawati Rural Municipality-8 (Sindhupalchowk), Chiranjibi Joti, 19, and Sujan Joti, 23, of Helambu Rural Municipality-2 (Sindhupalchowk). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson of Metropolitan Police Range, Kathmandu, SP Ramesh Kumar Basnet informed that the police squad arrested Shrestha while she was purchasing goods with the fake currency notes at Gokarneswor Municipality-7, Daksindhoka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting on the information received from Shrestha in course of investigation, the police team arrested four others for their alleged involvement in fake currency racket, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with the fake currency notes, the police confiscated color printer, papers, paper cutter, mobile and other devices used to produce the counterfeit notes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14063', 'image' => '20211118123611_20170504043659_bank note.jpg', 'article_date' => '2021-11-18 12:35:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14317', 'article_category_id' => '1', 'title' => 'Bankers ask NRB to raise CD Ratio to 92 Percent', 'sub_title' => '', 'summary' => 'November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. The current provision requires the CD ratio to be 90 percent while the banks have demanded the CD ratio to be increased to 92 percent.</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:"Times New Roman","serif"">A team of Nepal Bankers' Association met with Nepal Rastra Bank’s Governor Maha Prasad Adhikari and urged the central bank to address the issue in the first quarterly review of the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank had implemented the CD ratio of 90 percent after scrapping the CCD ratio of 85 percent through the monetary policy. "We have demanded the CD ratio to be raised to 92 percent,” said Santosh Koirala, a member of the bankers’ association and CEO of Machhapuchhre Bank.</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:"Times New Roman","serif"">At present, the CD ratio of banks is maintained around 90 percent. The banks have made such a demand since they have been unable to extend any new loans. Koirala said that banks have demanded to increase the CD ratio as an alternative since it is less likely that new deposits will be pouring in.</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:"Times New Roman","serif"">He said the situation is likely to be normal by the next fiscal year when the CD ratio can again be maintained at 90 percent through the new monetary policy. Banking sector is reeling through a liquidity crunch since last July due to high credit flow and insufficient deposit collection. </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:"Times New Roman","serif"">On the other hand, the government has not been able to spend the budget in the current fiscal year. The biggest source of bank deposits is government expenditure. As a result, there is a shortage of deposits in the banking sector. In addition, the remittance inflow has also declined affecting deposit collection.</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:"Times New Roman","serif"">The bankers’ association has also demanded flexibility on liquidity ratio and Cash Reserve Ratio (CRR). The association has also urged the central bank to review the differences in interest rate, service fee and base rate provisions. </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:"Times New Roman","serif"">Banks have also demanded to allow them to issue SME bonds, convertible bonds and permanent bonds with flexibility in the limits of investment in designated areas. Similarly, they have demanded to review interest rate on refinancing loans, and provisions to deposit in Indian bank in a way that would earn interest.</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:"Times New Roman","serif"">They have also sought to establish a fintech company as a subsidiary to promote digital banking. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14062', 'image' => '20211118115019_Banks.jpg', 'article_date' => '2021-11-18 11:49:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14316', 'article_category_id' => '1', 'title' => 'Government to Set up Mechanism to Hear Taxpayers' Complaints ', 'sub_title' => '', 'summary' => 'November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing a programme organized at the Inland Revenue Department (IRD) on the occasion of the 10th Tax Day on Wednesday (November 17), Finance Minister Sharma said the government would not leave any stone unturned to address the grievances of the tax-payers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed commitment to form a unit to promptly address the hassles and obstacles that surface in the tax administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The grievances of the tax-payers should be heard. A unit would be formed immediately. I will form a mechanism for prompt action," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The finance minister added that a vehicle scanner would be kept at each customs office for facilitating the customs process. He also asserted that the government would act tough to stop tax evasion and revenue leakage, and there would not be any discrimination against any tax-payer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also directed the customs officials and government employees to consider themselves as the servants of the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the occasion, Finance Secretary Madhu Kumar Marasini stressed on stability of tax policy to create investment-friendly environment in the country. He said that the government has adopted the policy of expanding the tax purview but not increasing the tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary (Revenue) Krishna Hari Pushkar said the government has carried out policy and process related works with the objective of improving the tax administration and encouraging the tax payers to pay the tax voluntarily. He also pointed out to the need of reforms in the revenue administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department Shovakanta Poudel claimed that the tax administration has become tax-payer friendly, investment-friendly and technology-friendly due to the reforms introduced on topics such as policy strengthening, procedural simplification, system reforms, tax education and awareness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, FNCCI president Shekhar Golchha said the industrialists and businessmen were ready to pay tax, and urged the government to create a dignified business environment. He suggested the government to make the tax administration prompt and efficient. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting president of Confederation of Nepalese Industries, Krishna Prasad Adhikari stressed on the need of making the tax system transparent and drew the government's attention towards maintaining a pluralistic tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Chamber of Commerce president Rajendra Malla suggested bringing the real estate businesspersons also into the tax net. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highest tax-payers and the department's employees were honoured on the occasion. The finance minister also unveiled the annual report and the revenue investigation procedures published by the department. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14061', 'image' => '20211118080827_20211011084727_IMG_3818.jpg', 'article_date' => '2021-11-18 08:07:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14314', 'article_category_id' => '1', 'title' => 'IRD Felicitates Highest Taxpayers', 'sub_title' => '', 'summary' => 'November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10th National Tax Day.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10<sup>th</sup> National Tax Day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Janadran Sharma and Director General of IRD Shovakanta Poudel felicitated the highest taxpayer and the representatives of the highest taxpaying organization amid a special function.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The IRD declared Nepal Telecom as the highest taxpaying organization while the chairman of Sipradi Trading Siddhartha Shumsher Rana was announced the highest taxpayer in individual category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the department also felicitated Purbanchal Agrotech as the highest taxpayer in agriculture sector while Nobel Hospital and Taragaun Regency bagged the honours in health and education and tourism sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the commercial banks, Nabil Bank was declared the highest taxpayer while Nepal Reinsurance Company was adjudged the highest taxpayer among insurance companies. Similarly, Chhemek Laghubitta bagged the honours in microfinance category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other organisations that were felicitated by the IRD as highest taxpayers in their respective categories include Himal Power Limited (Hydropower), Dabur Nepal (Industry), Bhatbhateni Supermarket (Commodity Business) and Asian Paints (Special Industry Category).</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14059', 'image' => '20211117050307_1637140860.jpg', 'article_date' => '2021-11-17 17:02:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14313', 'article_category_id' => '1', 'title' => 'NRB Report Paints Mixed Picture of Economy', 'sub_title' => '', 'summary' => 'NRB Report Paints Mixed Picture of Economy November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis. Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion. Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14058', 'image' => '20211117042320_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-11-17 16:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14312', 'article_category_id' => '1', 'title' => 'Preparation Afoot to Increase Flight Frequency between India and Nepal', 'sub_title' => 'Indian Embassy proposes 56 flights per week', 'summary' => 'November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases. Discussions have been held between the two governments to increase the number of flights to 56 flights a week through air bubble agreement.</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:"Times New Roman","serif"">The Indian Embassy has reportedly asked the Ministry of Culture, Tourism and Civil Aviation to increase the number of flights. At present, there are 14 flights a week along the Kathmandu-Delhi route. It has seven flights from Nepal and India each.</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:"Times New Roman","serif"">The number of flights between Nepal-India was reduced due to the surge in Covid-19 cases.</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:"Times New Roman","serif"">According to Buddhisagar Lamichhane, Joint Secretary at the Civil Aviation Division of the Ministry, the number of flights will be increased to 56 flights a week from 14 flights, as per the air bubble agreement.</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:"Times New Roman","serif"">"There is a proposal from the Indian embassy to increase the number of flights," he said.</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:"Times New Roman","serif"">Stating that India has now proposed to operate 28 flights each from the air operators of both the countries, he added that Nepal is positive about it and the same number of flights could be finalized.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14057', 'image' => '20211117122510_20191031120033_1572142676.jpg', 'article_date' => '2021-11-17 12:24:12', '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' => '14327', 'article_category_id' => '1', 'title' => 'Government Halts Production and Sale of Three Cement Industries', 'sub_title' => '', 'summary' => 'November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a press statement, the bureau informed that it has halted production and sale of OPC cement of Maruti Cement and United Cement and PPC cement of Jagadamba Cement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the bureau, it had collected samples of OPC Grade 43 cement produced by Siraha-based Maruti Cement for inspection and found that the quality of the sample was not on par with the required standard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has directed the company to bring back the cement from the market and submit a written explanation within 15 days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the OPC Grade 53 cement produced by Dhading-based United Cement also does not meet the required standard, according to the bureau.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has also sought clarification from the industry within 15 days and ordered to bring back its products from the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the quality of PPC cement produced by Rupandehi-based Jagadamba Cement was also not as per the required standard. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagadamba Cement has also been asked to give a written explanation within 15 days and stop the sale of PPC cement. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14072', 'image' => '20211119114308_20150820120744_cn.jpg', 'article_date' => '2021-11-19 11:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14326', 'article_category_id' => '1', 'title' => 'Kathmandu-Bangkok Flight to Resume Soon', 'sub_title' => '', 'summary' => 'November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thailand's Ambassador to Nepal Vosita Vorasaph confirmed the resumption of flights during a courtesy call with Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale at the latter's office in Singha Durbar on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Ale thanked Ambassador Vorasaph for the Thai government's assistance to Lumbini area in Nepal and urged him to provide help for Maternity Hospital in Lumbini. He also urged the ambassador to facilitate visas for Nepalis going to Thailand and manage concessional medical treatment for them in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ale stressed the need for Nepal and Thailand to make maximum efforts to further strengthen the historic relations between the two countries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '14071', 'image' => '20211119084106_Flag-Pins-Nepal-Thailand.jpg', 'article_date' => '2021-11-19 08:40:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14325', 'article_category_id' => '1', 'title' => 'India to Provide Promised Monetary Support for Development of Janakpurdham ', 'sub_title' => '', 'summary' => 'November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Talking briefly with journalists on his arrival at Janakpurdham in course of a religious visit, BJP Spokesperson Vijay Sonkar Shastri said the relations between Nepal and India dates back to time immemorial. According to the state-owned national news agency RSS, Shastri asserted that the Government of India would provide the pledged amount soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The BJP spokesperson also stated that the Ramayana Circuit Railway Scheme also included Janakpurdham. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his visit to the Janaki Temple, the priest of the temple Ram Tapeshwor Das suggested Shastri to take initiatives for checking smuggling of cows that is reportedly taking place from Nepal to India, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Killing of cows is banned in Nepal. But cows are slaughtered in India although there are four Shankaracharyas there. This should be stopped. Please, convey my message to Prime Minister Narendra Modi," the priest of the Janaki temple reportedly told Shastri. </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"">Modi, during his visit to Janakpurdham on May 11, 2018, had announced to provide Rs 1 billion for the development of the city that holds religious and cultural significance for both Nepal and India.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14070', 'image' => '20211119083533_20170708031746_Clipboard27.jpg', 'article_date' => '2021-11-19 08:35:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14324', 'article_category_id' => '1', 'title' => 'Finance Minister Stresses on Simplifying Development Laws', 'sub_title' => '', 'summary' => 'November 19: Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 19: <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative. He said that unclear laws and other hurdles had hampered big projects and expressed that such laws need to be revised. According to the state-owned national news agency RSS, the finance minister made such remarks during a recent discussion held at the finance ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also stressed on the need of policies capable of simplifying the operations of big projects by removing unnecessary hurdles. He insisted that projects capable of bringing positive change in the financial aspects of people’s life should be selected and their smooth implementation be ensured. He pointed out the need of identifying projects on basis of the real needs of the people and not on the basis of political influence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister claimed that the lawmakers in the past endorsed laws without making in-depth study of the topic. This has caused the existing problems in the development process, added minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Secretary Shanker Das Bairagi, Finance Secretary Madhu Kumar Marasini and secretaries and representatives from different ministries were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The discussion focused on the existing procurement law, challenges in the achievement of the target of capital expenditure, status of the coordination among bodies concerned and fiscal discipline among others. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14069', 'image' => '20211119082325_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-19 08:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14323', 'article_category_id' => '1', 'title' => 'Nepal and India Discuss Energy Cooperation ', 'sub_title' => '', 'summary' => 'November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries.', '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"">November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries. </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 three-member delegation led by Energy Secretary Devendra Karki held positive discussion on bilateral energy cooperation with Indian Energy Secretary Alok Kumar in the Indian capital New Delhi recently.</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"">Matters relating to water resources and irrigation, cooperation in the energy sector and its various dimensions were discussed, according to Madhu Prasad Bhetwal, joint secretary and spokesperson of the Ministry of Energy. Spokesperson Bhetwal shared that a positive dialogue was held regarding issues of bilateral and common interests in the energy sector in New Delhi on November 16. The delegation led by the energy secretary returned home on Wednesday. -- RSS</span></span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14068', 'image' => '20211119080450_Energy Cooperation (5).jpg', 'article_date' => '2021-11-19 08:03:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14321', 'article_category_id' => '1', 'title' => 'CAAN Fails to Pass its Budget ', 'sub_title' => '', 'summary' => 'November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale, who is also the chariman of CAAN, and other board members haven't shown interest in this issue. CAAN has proposed a budget of 41 billion for the current fiscal year to cover expenses of various projects including national pride projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of CAAN said that the newly-appointed minister hasn't focused on the CAAN budget because of his busy schedule. "The minister has been very busy and has not been able to focus on the budget of CAAN, although we are hopeful that the current year's budget will be passed soon," said the source requesting anonymity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Even though the budget has not been passed, CAAN has been releasing money by mobilizing a portion of the budget of last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Even now there is a delay in passing the budget, it will have a big impact on the current expenditure of CAAN and the projects it has been overseeing. However, the budget has not been passed even after getting the departmental minister," the officer said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba's government had appointed Ale as the Minister of Culture, Tourism, and Civil Aviation on September 8. However, CAAN's budget has not been approved even after a month of his appointment. CAAN's budget is not a priority for ministers and board members. The tourism minister is the chairman of the board of CAAN. Likewise, the undersecretary of the ministry is also a board member, while the Director-General of CAAN is the member secretary of the board. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajkumar Kshetry is currently the Director-General of CAAN, and also be the member secretary of the board. CAAN's budget and agenda should be presented in the board meeting by the Member Secretary.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> However, no board meeting has been held in the last one month. Sources claim that the board meeting could not be held due to the busy schedule of the minister and board members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the total budget of CAAN in the last fiscal year was Rs. 41.11 billion. Of that, the capital expenditure alone was Rs 30.64 billion out of which only Rs 16.82 billion could be spent, the annual progress report of CAAN states. The revenue of CAAN, which is dependent on revenue from air services, had also declined in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The officials of the authority said that there was no problem as the airport infrastructure projects were going on multi-year contracts. However, CAAN can face issues soon as there is no immediate release of the budget. The authority manages the infrastructure projects of 54 airports including, Gautam Buddha International Airport and Pokhara Regional International Airport.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14067', 'image' => '20211118020107_1637192833.jpg', 'article_date' => '2021-11-18 14:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14320', 'article_category_id' => '1', 'title' => 'Kumari Bank Recovers Loan Disbursed by Keeping Forged Document as Collateral', 'sub_title' => '', 'summary' => 'November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the bank, it has already settled the case where the land ownership document was forged and loan was withdrawn. The land was originally registered in the name of singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Anuj Mani Timilsina, acting chief executive officer (CEO) of Kumari Bank, said that the bank collected Rs 190 million from the concerned person as soon as the collateral for the loan was identified to be fake. “We took action immediately to settle the loan three months ago after the bank found out that the collateral submitted for the loan was found to be fake,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Kumari Bank had approved the loan of Rs 190 million on the basis of documents submitted by Daniel Trading Company last July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“The bank had given approval for the loan after completing all the procedures. The previous year’s balance sheet of the company was also taken into consideration. When the loan was disbursed, all the major things that the bank looked at, such as the ability of the company to repay the loan seemed positive. Even before the loan was approved, the potential risks were investigated closely, but the collateral was compromised. When we found out, we took action immediately to settle the case,” said CEO Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The loan was given to Daniel Trading to buy land from Biruwa Bhumi Bankali Company. CEO Timilsina clarified that the bank did not find any irregularity during the process of disbursing the loan.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“When it was found out that the land mortgage was forged, the bank contacted the debtors and were asked to repay the loan. The loan was repaid after some time,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, an investigation is underway into the disbursement of loan of Rs 190 million from Kumari Bank by keeping fake land ownership document as collateral. The District Public Prosecutor's Office, Kathmandu, on Monday directed the police to investigate the case of banking malpractice. Earlier, the Central Investigation Bureau (CIB) of the police were investigating a case of forgery related to this issue.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14066', 'image' => '20211118014557_jpg.jpg', 'article_date' => '2021-11-18 13:45:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14322', 'article_category_id' => '1', 'title' => 'Low Pressure System Causes Cloudy Weather with Chances of Snowfall ', 'sub_title' => '', 'summary' => 'November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather is partly to generally cloudy in Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while it is partly cloudy in the rest of the country due to the impact of this system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley experienced chilly weather since today morning (November 18) due to the cloudy condition. Although the temperature is stable, the cold weather is experienced due to lack of sunshine. The maximum temperature in Kathmandu was 22 degrees Celsius and the minimum 9 degrees Celsius in the last 24 hours. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Weather forecast for the next three days</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the weather forecast bulletin for the next three days, it will be partly to generally cloudy in Province 1, Bagmati, Lumbini, Gandaki and Sudurpaschim provinces, and partly cloudy in the rest of the provinces towards the afternoon today. The same weather condition is forecast for tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, it will be partly to generally cloudy in Sudurpaschim, Karnali, Lumbini and Gandaki provinces as well as in the hill areas of Bagmati Province and Province 1. It will be partly cloudy in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall is in forecast at a few places of high hills and mountainous region, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday, the weather will be partly to generally cloudy throughout Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while partly cloudy weather is expected in the rest of the country. There is possibility of light snowfall at some places in the mountainous regions of Gandaki and Karnali provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14065', 'image' => '20211118020901_1637218955.jpg', 'article_date' => '2021-11-18 14:08:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14318', 'article_category_id' => '1', 'title' => 'Mayor of Melamchi Warns to Halt Water Supply if their Problems are not Resolved', 'sub_title' => '', 'summary' => 'November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists. Aryal made such remark while speaking at the 11th Annual General Meeting of the Hyolmo Sindhu Melamchi Valley Social Upliftment Program Steering Committee, held in Melamchi on Tuesday. During the program, Mayor Aryal warned of blocking the water supply to Kathmandu from Melamchi river if the Melamchi Water Supply Project does not take initiative to resolve the problems caused by floods and landslides in Melamchi and Helambu areas.</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:"Times New Roman","serif"">The mayor expressed his discontent saying that the project officials have not shown any interest to address the problem even after witnessing the damages caused by floods. “We cannot send water in the current situation. It is not possible until the debris at the project site is properly removed,” said the mayor. He also shared his disappointment saying, “Despite repeated requests for talks, they have not come in contact with us so far.”</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:"Times New Roman","serif"">Mayor Aryal has requested the officials of the Melamchi Water Supply Project to study the status of Melamchi and warned that the water would not be sent to Kathmandu if the project officials prefer to stay in Kathmandu rather than visit the area for inspection.</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:"Times New Roman","serif"">Aryal suggested the officials to move ahead only by making a sustainable plan and bear responsibility. </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:"Times New Roman","serif"">Chandra Bahadur Thapa, one of the board members of Melamchi Water Supply Development Board, said that the drinking water project was helping the flood-affected areas and assured that they are committed to resolve the problems that would arise in the upcoming days as well. "We have been requesting the project for budget allocation in the productive sector. The problems of the locals will be definitely addressed", said Thapa.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14064', 'image' => '20211118122748_melamchi-water-supply-project-mwsp-l.jpg', 'article_date' => '2021-11-18 12:26:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14319', 'article_category_id' => '1', 'title' => 'Five held for Printing Counterfeit Currency Notes ', 'sub_title' => '', 'summary' => 'November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of police from the Metropolitan Police Circle, Bouddha on Wednesday evening arrested five individuals red-handed while printing fake currency notes at the room of Samaraj Thapamagar in Budhanilakantha Municipality-11, Kapan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among those arrested are Goma Shrestha, 56, and Pushpa Thapamagar, 41, of Indrawati Rural Municipality-8 (Sindhupalchowk), Chiranjibi Joti, 19, and Sujan Joti, 23, of Helambu Rural Municipality-2 (Sindhupalchowk). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson of Metropolitan Police Range, Kathmandu, SP Ramesh Kumar Basnet informed that the police squad arrested Shrestha while she was purchasing goods with the fake currency notes at Gokarneswor Municipality-7, Daksindhoka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting on the information received from Shrestha in course of investigation, the police team arrested four others for their alleged involvement in fake currency racket, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with the fake currency notes, the police confiscated color printer, papers, paper cutter, mobile and other devices used to produce the counterfeit notes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14063', 'image' => '20211118123611_20170504043659_bank note.jpg', 'article_date' => '2021-11-18 12:35:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14317', 'article_category_id' => '1', 'title' => 'Bankers ask NRB to raise CD Ratio to 92 Percent', 'sub_title' => '', 'summary' => 'November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. The current provision requires the CD ratio to be 90 percent while the banks have demanded the CD ratio to be increased to 92 percent.</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:"Times New Roman","serif"">A team of Nepal Bankers' Association met with Nepal Rastra Bank’s Governor Maha Prasad Adhikari and urged the central bank to address the issue in the first quarterly review of the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank had implemented the CD ratio of 90 percent after scrapping the CCD ratio of 85 percent through the monetary policy. "We have demanded the CD ratio to be raised to 92 percent,” said Santosh Koirala, a member of the bankers’ association and CEO of Machhapuchhre Bank.</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:"Times New Roman","serif"">At present, the CD ratio of banks is maintained around 90 percent. The banks have made such a demand since they have been unable to extend any new loans. Koirala said that banks have demanded to increase the CD ratio as an alternative since it is less likely that new deposits will be pouring in.</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:"Times New Roman","serif"">He said the situation is likely to be normal by the next fiscal year when the CD ratio can again be maintained at 90 percent through the new monetary policy. Banking sector is reeling through a liquidity crunch since last July due to high credit flow and insufficient deposit collection. </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:"Times New Roman","serif"">On the other hand, the government has not been able to spend the budget in the current fiscal year. The biggest source of bank deposits is government expenditure. As a result, there is a shortage of deposits in the banking sector. In addition, the remittance inflow has also declined affecting deposit collection.</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:"Times New Roman","serif"">The bankers’ association has also demanded flexibility on liquidity ratio and Cash Reserve Ratio (CRR). The association has also urged the central bank to review the differences in interest rate, service fee and base rate provisions. </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:"Times New Roman","serif"">Banks have also demanded to allow them to issue SME bonds, convertible bonds and permanent bonds with flexibility in the limits of investment in designated areas. Similarly, they have demanded to review interest rate on refinancing loans, and provisions to deposit in Indian bank in a way that would earn interest.</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:"Times New Roman","serif"">They have also sought to establish a fintech company as a subsidiary to promote digital banking. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14062', 'image' => '20211118115019_Banks.jpg', 'article_date' => '2021-11-18 11:49:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14316', 'article_category_id' => '1', 'title' => 'Government to Set up Mechanism to Hear Taxpayers' Complaints ', 'sub_title' => '', 'summary' => 'November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing a programme organized at the Inland Revenue Department (IRD) on the occasion of the 10th Tax Day on Wednesday (November 17), Finance Minister Sharma said the government would not leave any stone unturned to address the grievances of the tax-payers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed commitment to form a unit to promptly address the hassles and obstacles that surface in the tax administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The grievances of the tax-payers should be heard. A unit would be formed immediately. I will form a mechanism for prompt action," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The finance minister added that a vehicle scanner would be kept at each customs office for facilitating the customs process. He also asserted that the government would act tough to stop tax evasion and revenue leakage, and there would not be any discrimination against any tax-payer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also directed the customs officials and government employees to consider themselves as the servants of the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the occasion, Finance Secretary Madhu Kumar Marasini stressed on stability of tax policy to create investment-friendly environment in the country. He said that the government has adopted the policy of expanding the tax purview but not increasing the tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary (Revenue) Krishna Hari Pushkar said the government has carried out policy and process related works with the objective of improving the tax administration and encouraging the tax payers to pay the tax voluntarily. He also pointed out to the need of reforms in the revenue administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department Shovakanta Poudel claimed that the tax administration has become tax-payer friendly, investment-friendly and technology-friendly due to the reforms introduced on topics such as policy strengthening, procedural simplification, system reforms, tax education and awareness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, FNCCI president Shekhar Golchha said the industrialists and businessmen were ready to pay tax, and urged the government to create a dignified business environment. He suggested the government to make the tax administration prompt and efficient. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting president of Confederation of Nepalese Industries, Krishna Prasad Adhikari stressed on the need of making the tax system transparent and drew the government's attention towards maintaining a pluralistic tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Chamber of Commerce president Rajendra Malla suggested bringing the real estate businesspersons also into the tax net. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highest tax-payers and the department's employees were honoured on the occasion. The finance minister also unveiled the annual report and the revenue investigation procedures published by the department. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14061', 'image' => '20211118080827_20211011084727_IMG_3818.jpg', 'article_date' => '2021-11-18 08:07:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14314', 'article_category_id' => '1', 'title' => 'IRD Felicitates Highest Taxpayers', 'sub_title' => '', 'summary' => 'November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10th National Tax Day.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10<sup>th</sup> National Tax Day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Janadran Sharma and Director General of IRD Shovakanta Poudel felicitated the highest taxpayer and the representatives of the highest taxpaying organization amid a special function.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The IRD declared Nepal Telecom as the highest taxpaying organization while the chairman of Sipradi Trading Siddhartha Shumsher Rana was announced the highest taxpayer in individual category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the department also felicitated Purbanchal Agrotech as the highest taxpayer in agriculture sector while Nobel Hospital and Taragaun Regency bagged the honours in health and education and tourism sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the commercial banks, Nabil Bank was declared the highest taxpayer while Nepal Reinsurance Company was adjudged the highest taxpayer among insurance companies. Similarly, Chhemek Laghubitta bagged the honours in microfinance category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other organisations that were felicitated by the IRD as highest taxpayers in their respective categories include Himal Power Limited (Hydropower), Dabur Nepal (Industry), Bhatbhateni Supermarket (Commodity Business) and Asian Paints (Special Industry Category).</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14059', 'image' => '20211117050307_1637140860.jpg', 'article_date' => '2021-11-17 17:02:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14313', 'article_category_id' => '1', 'title' => 'NRB Report Paints Mixed Picture of Economy', 'sub_title' => '', 'summary' => 'NRB Report Paints Mixed Picture of Economy November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis. Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion. Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14058', 'image' => '20211117042320_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-11-17 16:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14312', 'article_category_id' => '1', 'title' => 'Preparation Afoot to Increase Flight Frequency between India and Nepal', 'sub_title' => 'Indian Embassy proposes 56 flights per week', 'summary' => 'November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases. Discussions have been held between the two governments to increase the number of flights to 56 flights a week through air bubble agreement.</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:"Times New Roman","serif"">The Indian Embassy has reportedly asked the Ministry of Culture, Tourism and Civil Aviation to increase the number of flights. At present, there are 14 flights a week along the Kathmandu-Delhi route. It has seven flights from Nepal and India each.</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:"Times New Roman","serif"">The number of flights between Nepal-India was reduced due to the surge in Covid-19 cases.</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:"Times New Roman","serif"">According to Buddhisagar Lamichhane, Joint Secretary at the Civil Aviation Division of the Ministry, the number of flights will be increased to 56 flights a week from 14 flights, as per the air bubble agreement.</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:"Times New Roman","serif"">"There is a proposal from the Indian embassy to increase the number of flights," he said.</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:"Times New Roman","serif"">Stating that India has now proposed to operate 28 flights each from the air operators of both the countries, he added that Nepal is positive about it and the same number of flights could be finalized.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14057', 'image' => '20211117122510_20191031120033_1572142676.jpg', 'article_date' => '2021-11-17 12:24:12', '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' => '14327', 'article_category_id' => '1', 'title' => 'Government Halts Production and Sale of Three Cement Industries', 'sub_title' => '', 'summary' => 'November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">November 19: The Nepal Bureau of Standards and Metrology has stopped the production and sale of cement of Maruti Cement, United Cement and Jagadamba Cement, after their products were found to be of substandard quality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Issuing a press statement, the bureau informed that it has halted production and sale of OPC cement of Maruti Cement and United Cement and PPC cement of Jagadamba Cement.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the bureau, it had collected samples of OPC Grade 43 cement produced by Siraha-based Maruti Cement for inspection and found that the quality of the sample was not on par with the required standard.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has directed the company to bring back the cement from the market and submit a written explanation within 15 days.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the OPC Grade 53 cement produced by Dhading-based United Cement also does not meet the required standard, according to the bureau.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The department has also sought clarification from the industry within 15 days and ordered to bring back its products from the market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the quality of PPC cement produced by Rupandehi-based Jagadamba Cement was also not as per the required standard. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Jagadamba Cement has also been asked to give a written explanation within 15 days and stop the sale of PPC cement. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14072', 'image' => '20211119114308_20150820120744_cn.jpg', 'article_date' => '2021-11-19 11:42:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14326', 'article_category_id' => '1', 'title' => 'Kathmandu-Bangkok Flight to Resume Soon', 'sub_title' => '', 'summary' => 'November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Direct flights between Kathmandu and Bangkok that were halted due to COVID-19 are all to resume soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Thailand's Ambassador to Nepal Vosita Vorasaph confirmed the resumption of flights during a courtesy call with Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale at the latter's office in Singha Durbar on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Minister Ale thanked Ambassador Vorasaph for the Thai government's assistance to Lumbini area in Nepal and urged him to provide help for Maternity Hospital in Lumbini. He also urged the ambassador to facilitate visas for Nepalis going to Thailand and manage concessional medical treatment for them in Bangkok. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ale stressed the need for Nepal and Thailand to make maximum efforts to further strengthen the historic relations between the two countries. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '14071', 'image' => '20211119084106_Flag-Pins-Nepal-Thailand.jpg', 'article_date' => '2021-11-19 08:40:41', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14325', 'article_category_id' => '1', 'title' => 'India to Provide Promised Monetary Support for Development of Janakpurdham ', 'sub_title' => '', 'summary' => 'November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 19: Bharatiya Janata Party (BJP), India's ruling party, has assured that the monetary assistance of Rs 1 billion pledged by India's Prime Minister Narendra Modi for the development of Janakpurdham would be provided soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Talking briefly with journalists on his arrival at Janakpurdham in course of a religious visit, BJP Spokesperson Vijay Sonkar Shastri said the relations between Nepal and India dates back to time immemorial. According to the state-owned national news agency RSS, Shastri asserted that the Government of India would provide the pledged amount soon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The BJP spokesperson also stated that the Ramayana Circuit Railway Scheme also included Janakpurdham. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During his visit to the Janaki Temple, the priest of the temple Ram Tapeshwor Das suggested Shastri to take initiatives for checking smuggling of cows that is reportedly taking place from Nepal to India, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"Killing of cows is banned in Nepal. But cows are slaughtered in India although there are four Shankaracharyas there. This should be stopped. Please, convey my message to Prime Minister Narendra Modi," the priest of the Janaki temple reportedly told Shastri. </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"">Modi, during his visit to Janakpurdham on May 11, 2018, had announced to provide Rs 1 billion for the development of the city that holds religious and cultural significance for both Nepal and India.</span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14070', 'image' => '20211119083533_20170708031746_Clipboard27.jpg', 'article_date' => '2021-11-19 08:35:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14324', 'article_category_id' => '1', 'title' => 'Finance Minister Stresses on Simplifying Development Laws', 'sub_title' => '', 'summary' => 'November 19: Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">November 19: <span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Janardan Sharma has said that the government is ready to operate big projects without any obstructions and to facilitate the development initiative. He said that unclear laws and other hurdles had hampered big projects and expressed that such laws need to be revised. According to the state-owned national news agency RSS, the finance minister made such remarks during a recent discussion held at the finance ministry. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Finance Minister Sharma also stressed on the need of policies capable of simplifying the operations of big projects by removing unnecessary hurdles. He insisted that projects capable of bringing positive change in the financial aspects of people’s life should be selected and their smooth implementation be ensured. He pointed out the need of identifying projects on basis of the real needs of the people and not on the basis of political influence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The finance minister claimed that the lawmakers in the past endorsed laws without making in-depth study of the topic. This has caused the existing problems in the development process, added minister Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief Secretary Shanker Das Bairagi, Finance Secretary Madhu Kumar Marasini and secretaries and representatives from different ministries were present on the occasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The discussion focused on the existing procurement law, challenges in the achievement of the target of capital expenditure, status of the coordination among bodies concerned and fiscal discipline among others. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14069', 'image' => '20211119082325_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-19 08:23:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14323', 'article_category_id' => '1', 'title' => 'Nepal and India Discuss Energy Cooperation ', 'sub_title' => '', 'summary' => 'November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries.', '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"">November 19: The energy secretaries of Nepal and India discussed various aspects of energy cooperation between the two countries. </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 three-member delegation led by Energy Secretary Devendra Karki held positive discussion on bilateral energy cooperation with Indian Energy Secretary Alok Kumar in the Indian capital New Delhi recently.</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"">Matters relating to water resources and irrigation, cooperation in the energy sector and its various dimensions were discussed, according to Madhu Prasad Bhetwal, joint secretary and spokesperson of the Ministry of Energy. Spokesperson Bhetwal shared that a positive dialogue was held regarding issues of bilateral and common interests in the energy sector in New Delhi on November 16. The delegation led by the energy secretary returned home on Wednesday. -- RSS</span></span></span></span></p> ', 'published' => true, 'created' => '2021-11-19', 'modified' => '2021-11-19', 'keywords' => '', 'description' => '', 'sortorder' => '14068', 'image' => '20211119080450_Energy Cooperation (5).jpg', 'article_date' => '2021-11-19 08:03:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14321', 'article_category_id' => '1', 'title' => 'CAAN Fails to Pass its Budget ', 'sub_title' => '', 'summary' => 'November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Even though the first quarter of the current fiscal year has already completed, the Civil Aviation Authority of Nepal has failed to pass its budget for the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Minister for Culture, Tourism and Civil Aviation Prem Bahadur Ale, who is also the chariman of CAAN, and other board members haven't shown interest in this issue. CAAN has proposed a budget of 41 billion for the current fiscal year to cover expenses of various projects including national pride projects.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of CAAN said that the newly-appointed minister hasn't focused on the CAAN budget because of his busy schedule. "The minister has been very busy and has not been able to focus on the budget of CAAN, although we are hopeful that the current year's budget will be passed soon," said the source requesting anonymity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Even though the budget has not been passed, CAAN has been releasing money by mobilizing a portion of the budget of last fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Even now there is a delay in passing the budget, it will have a big impact on the current expenditure of CAAN and the projects it has been overseeing. However, the budget has not been passed even after getting the departmental minister," the officer said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Prime Minister Sher Bahadur Deuba's government had appointed Ale as the Minister of Culture, Tourism, and Civil Aviation on September 8. However, CAAN's budget has not been approved even after a month of his appointment. CAAN's budget is not a priority for ministers and board members. The tourism minister is the chairman of the board of CAAN. Likewise, the undersecretary of the ministry is also a board member, while the Director-General of CAAN is the member secretary of the board. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Rajkumar Kshetry is currently the Director-General of CAAN, and also be the member secretary of the board. CAAN's budget and agenda should be presented in the board meeting by the Member Secretary.</span></span><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif""> However, no board meeting has been held in the last one month. Sources claim that the board meeting could not be held due to the busy schedule of the minister and board members.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, the total budget of CAAN in the last fiscal year was Rs. 41.11 billion. Of that, the capital expenditure alone was Rs 30.64 billion out of which only Rs 16.82 billion could be spent, the annual progress report of CAAN states. The revenue of CAAN, which is dependent on revenue from air services, had also declined in the last fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The officials of the authority said that there was no problem as the airport infrastructure projects were going on multi-year contracts. However, CAAN can face issues soon as there is no immediate release of the budget. The authority manages the infrastructure projects of 54 airports including, Gautam Buddha International Airport and Pokhara Regional International Airport.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14067', 'image' => '20211118020107_1637192833.jpg', 'article_date' => '2021-11-18 14:00:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14320', 'article_category_id' => '1', 'title' => 'Kumari Bank Recovers Loan Disbursed by Keeping Forged Document as Collateral', 'sub_title' => '', 'summary' => 'November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 18: Kumari Bank has stated that it has recovered the loan taken by presenting fake documents of land owned by singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the bank, it has already settled the case where the land ownership document was forged and loan was withdrawn. The land was originally registered in the name of singer Yogeshwor Amatya.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Anuj Mani Timilsina, acting chief executive officer (CEO) of Kumari Bank, said that the bank collected Rs 190 million from the concerned person as soon as the collateral for the loan was identified to be fake. “We took action immediately to settle the loan three months ago after the bank found out that the collateral submitted for the loan was found to be fake,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Kumari Bank had approved the loan of Rs 190 million on the basis of documents submitted by Daniel Trading Company last July.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“The bank had given approval for the loan after completing all the procedures. The previous year’s balance sheet of the company was also taken into consideration. When the loan was disbursed, all the major things that the bank looked at, such as the ability of the company to repay the loan seemed positive. Even before the loan was approved, the potential risks were investigated closely, but the collateral was compromised. When we found out, we took action immediately to settle the case,” said CEO Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The loan was given to Daniel Trading to buy land from Biruwa Bhumi Bankali Company. CEO Timilsina clarified that the bank did not find any irregularity during the process of disbursing the loan.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“When it was found out that the land mortgage was forged, the bank contacted the debtors and were asked to repay the loan. The loan was repaid after some time,” said Timilsina.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, an investigation is underway into the disbursement of loan of Rs 190 million from Kumari Bank by keeping fake land ownership document as collateral. The District Public Prosecutor's Office, Kathmandu, on Monday directed the police to investigate the case of banking malpractice. Earlier, the Central Investigation Bureau (CIB) of the police were investigating a case of forgery related to this issue.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14066', 'image' => '20211118014557_jpg.jpg', 'article_date' => '2021-11-18 13:45:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14322', 'article_category_id' => '1', 'title' => 'Low Pressure System Causes Cloudy Weather with Chances of Snowfall ', 'sub_title' => '', 'summary' => 'November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: The low pressure system formed over the Arabian Sea is having its partial influence in Nepal at present, resulting in cloudy weather condition, the Meteorological Forecasting Division said. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather is partly to generally cloudy in Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while it is partly cloudy in the rest of the country due to the impact of this system. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley experienced chilly weather since today morning (November 18) due to the cloudy condition. Although the temperature is stable, the cold weather is experienced due to lack of sunshine. The maximum temperature in Kathmandu was 22 degrees Celsius and the minimum 9 degrees Celsius in the last 24 hours. </span></span></span><br /> </p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-family:"Arial Unicode MS","sans-serif"">Weather forecast for the next three days</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the weather forecast bulletin for the next three days, it will be partly to generally cloudy in Province 1, Bagmati, Lumbini, Gandaki and Sudurpaschim provinces, and partly cloudy in the rest of the provinces towards the afternoon today. The same weather condition is forecast for tonight. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, it will be partly to generally cloudy in Sudurpaschim, Karnali, Lumbini and Gandaki provinces as well as in the hill areas of Bagmati Province and Province 1. It will be partly cloudy in the rest of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light snowfall is in forecast at a few places of high hills and mountainous region, the division said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Saturday, the weather will be partly to generally cloudy throughout Bagmati, Gandaki, Lumbini, Karnali and Sudurpaschim provinces while partly cloudy weather is expected in the rest of the country. There is possibility of light snowfall at some places in the mountainous regions of Gandaki and Karnali provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14065', 'image' => '20211118020901_1637218955.jpg', 'article_date' => '2021-11-18 14:08:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14318', 'article_category_id' => '1', 'title' => 'Mayor of Melamchi Warns to Halt Water Supply if their Problems are not Resolved', 'sub_title' => '', 'summary' => 'November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Mayor of Melamchi Municipality in Sindhupalchowk district, Dambar Aryal, has said that Melamchi’s water will not be supplied to Kathmandu if the current situation persists. Aryal made such remark while speaking at the 11th Annual General Meeting of the Hyolmo Sindhu Melamchi Valley Social Upliftment Program Steering Committee, held in Melamchi on Tuesday. During the program, Mayor Aryal warned of blocking the water supply to Kathmandu from Melamchi river if the Melamchi Water Supply Project does not take initiative to resolve the problems caused by floods and landslides in Melamchi and Helambu areas.</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:"Times New Roman","serif"">The mayor expressed his discontent saying that the project officials have not shown any interest to address the problem even after witnessing the damages caused by floods. “We cannot send water in the current situation. It is not possible until the debris at the project site is properly removed,” said the mayor. He also shared his disappointment saying, “Despite repeated requests for talks, they have not come in contact with us so far.”</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:"Times New Roman","serif"">Mayor Aryal has requested the officials of the Melamchi Water Supply Project to study the status of Melamchi and warned that the water would not be sent to Kathmandu if the project officials prefer to stay in Kathmandu rather than visit the area for inspection.</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:"Times New Roman","serif"">Aryal suggested the officials to move ahead only by making a sustainable plan and bear responsibility. </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:"Times New Roman","serif"">Chandra Bahadur Thapa, one of the board members of Melamchi Water Supply Development Board, said that the drinking water project was helping the flood-affected areas and assured that they are committed to resolve the problems that would arise in the upcoming days as well. "We have been requesting the project for budget allocation in the productive sector. The problems of the locals will be definitely addressed", said Thapa.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14064', 'image' => '20211118122748_melamchi-water-supply-project-mwsp-l.jpg', 'article_date' => '2021-11-18 12:26:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14319', 'article_category_id' => '1', 'title' => 'Five held for Printing Counterfeit Currency Notes ', 'sub_title' => '', 'summary' => 'November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 18: Police have arrested five persons in possession of counterfeit currency notes of Rs 65,335. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team of police from the Metropolitan Police Circle, Bouddha on Wednesday evening arrested five individuals red-handed while printing fake currency notes at the room of Samaraj Thapamagar in Budhanilakantha Municipality-11, Kapan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Among those arrested are Goma Shrestha, 56, and Pushpa Thapamagar, 41, of Indrawati Rural Municipality-8 (Sindhupalchowk), Chiranjibi Joti, 19, and Sujan Joti, 23, of Helambu Rural Municipality-2 (Sindhupalchowk). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson of Metropolitan Police Range, Kathmandu, SP Ramesh Kumar Basnet informed that the police squad arrested Shrestha while she was purchasing goods with the fake currency notes at Gokarneswor Municipality-7, Daksindhoka. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Acting on the information received from Shrestha in course of investigation, the police team arrested four others for their alleged involvement in fake currency racket, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with the fake currency notes, the police confiscated color printer, papers, paper cutter, mobile and other devices used to produce the counterfeit notes. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14063', 'image' => '20211118123611_20170504043659_bank note.jpg', 'article_date' => '2021-11-18 12:35:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14317', 'article_category_id' => '1', 'title' => 'Bankers ask NRB to raise CD Ratio to 92 Percent', 'sub_title' => '', 'summary' => 'November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 18: Banks have demanded an increase in the Credit Deposit (CD) ratio to address the liquidity crunch in the banking sector. The current provision requires the CD ratio to be 90 percent while the banks have demanded the CD ratio to be increased to 92 percent.</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:"Times New Roman","serif"">A team of Nepal Bankers' Association met with Nepal Rastra Bank’s Governor Maha Prasad Adhikari and urged the central bank to address the issue in the first quarterly review of the monetary policy.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The central bank had implemented the CD ratio of 90 percent after scrapping the CCD ratio of 85 percent through the monetary policy. "We have demanded the CD ratio to be raised to 92 percent,” said Santosh Koirala, a member of the bankers’ association and CEO of Machhapuchhre Bank.</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:"Times New Roman","serif"">At present, the CD ratio of banks is maintained around 90 percent. The banks have made such a demand since they have been unable to extend any new loans. Koirala said that banks have demanded to increase the CD ratio as an alternative since it is less likely that new deposits will be pouring in.</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:"Times New Roman","serif"">He said the situation is likely to be normal by the next fiscal year when the CD ratio can again be maintained at 90 percent through the new monetary policy. Banking sector is reeling through a liquidity crunch since last July due to high credit flow and insufficient deposit collection. </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:"Times New Roman","serif"">On the other hand, the government has not been able to spend the budget in the current fiscal year. The biggest source of bank deposits is government expenditure. As a result, there is a shortage of deposits in the banking sector. In addition, the remittance inflow has also declined affecting deposit collection.</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:"Times New Roman","serif"">The bankers’ association has also demanded flexibility on liquidity ratio and Cash Reserve Ratio (CRR). The association has also urged the central bank to review the differences in interest rate, service fee and base rate provisions. </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:"Times New Roman","serif"">Banks have also demanded to allow them to issue SME bonds, convertible bonds and permanent bonds with flexibility in the limits of investment in designated areas. Similarly, they have demanded to review interest rate on refinancing loans, and provisions to deposit in Indian bank in a way that would earn interest.</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:"Times New Roman","serif"">They have also sought to establish a fintech company as a subsidiary to promote digital banking. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14062', 'image' => '20211118115019_Banks.jpg', 'article_date' => '2021-11-18 11:49:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14316', 'article_category_id' => '1', 'title' => 'Government to Set up Mechanism to Hear Taxpayers' Complaints ', 'sub_title' => '', 'summary' => 'November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">November 18: Finance Minister Janardan Sharma has said that the government is committed to make the taxation system and the tax administration systematic and accountable to the public.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Addressing a programme organized at the Inland Revenue Department (IRD) on the occasion of the 10th Tax Day on Wednesday (November 17), Finance Minister Sharma said the government would not leave any stone unturned to address the grievances of the tax-payers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He expressed commitment to form a unit to promptly address the hassles and obstacles that surface in the tax administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The grievances of the tax-payers should be heard. A unit would be formed immediately. I will form a mechanism for prompt action," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The finance minister added that a vehicle scanner would be kept at each customs office for facilitating the customs process. He also asserted that the government would act tough to stop tax evasion and revenue leakage, and there would not be any discrimination against any tax-payer. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also directed the customs officials and government employees to consider themselves as the servants of the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the occasion, Finance Secretary Madhu Kumar Marasini stressed on stability of tax policy to create investment-friendly environment in the country. He said that the government has adopted the policy of expanding the tax purview but not increasing the tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Finance Secretary (Revenue) Krishna Hari Pushkar said the government has carried out policy and process related works with the objective of improving the tax administration and encouraging the tax payers to pay the tax voluntarily. He also pointed out to the need of reforms in the revenue administration. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Director General of the Department Shovakanta Poudel claimed that the tax administration has become tax-payer friendly, investment-friendly and technology-friendly due to the reforms introduced on topics such as policy strengthening, procedural simplification, system reforms, tax education and awareness. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, FNCCI president Shekhar Golchha said the industrialists and businessmen were ready to pay tax, and urged the government to create a dignified business environment. He suggested the government to make the tax administration prompt and efficient. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Acting president of Confederation of Nepalese Industries, Krishna Prasad Adhikari stressed on the need of making the tax system transparent and drew the government's attention towards maintaining a pluralistic tax rate. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Chamber of Commerce president Rajendra Malla suggested bringing the real estate businesspersons also into the tax net. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The highest tax-payers and the department's employees were honoured on the occasion. The finance minister also unveiled the annual report and the revenue investigation procedures published by the department. -- RSS</span></span></p> ', 'published' => true, 'created' => '2021-11-18', 'modified' => '2021-11-18', 'keywords' => '', 'description' => '', 'sortorder' => '14061', 'image' => '20211118080827_20211011084727_IMG_3818.jpg', 'article_date' => '2021-11-18 08:07:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14314', 'article_category_id' => '1', 'title' => 'IRD Felicitates Highest Taxpayers', 'sub_title' => '', 'summary' => 'November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10th National Tax Day.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 17: The Inland Revenue Department has felicitated the highest taxpayers in the fiscal year 2020/21 in various categories on the occasion of the 10<sup>th</sup> National Tax Day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Janadran Sharma and Director General of IRD Shovakanta Poudel felicitated the highest taxpayer and the representatives of the highest taxpaying organization amid a special function.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The IRD declared Nepal Telecom as the highest taxpaying organization while the chairman of Sipradi Trading Siddhartha Shumsher Rana was announced the highest taxpayer in individual category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the department also felicitated Purbanchal Agrotech as the highest taxpayer in agriculture sector while Nobel Hospital and Taragaun Regency bagged the honours in health and education and tourism sectors.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the commercial banks, Nabil Bank was declared the highest taxpayer while Nepal Reinsurance Company was adjudged the highest taxpayer among insurance companies. Similarly, Chhemek Laghubitta bagged the honours in microfinance category.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Other organisations that were felicitated by the IRD as highest taxpayers in their respective categories include Himal Power Limited (Hydropower), Dabur Nepal (Industry), Bhatbhateni Supermarket (Commodity Business) and Asian Paints (Special Industry Category).</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14059', 'image' => '20211117050307_1637140860.jpg', 'article_date' => '2021-11-17 17:02:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14313', 'article_category_id' => '1', 'title' => 'NRB Report Paints Mixed Picture of Economy', 'sub_title' => '', 'summary' => 'NRB Report Paints Mixed Picture of Economy November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis. Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion. Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 17: The Current Macroeconomic and Financial Situation Report of the country published by Nepal Rastra Bank (NRB) paints a mixed picture of the economy. The report which has provided data of the first three months of the current fiscal year, shows some indicators improving while some others deteriorating. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the report, foreign exchange reserves have further declined while the current account deficit has increased significantly. Similarly, inflation has increased and remittance inflow has declined further. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The gross foreign exchange reserves decreased 5.7 percent to Rs.1319.32 billion in mid-October 2021 from Rs.1399.02 billion in mid-July 2021. In the US Dollar terms, the gross foreign exchange reserves decreased 6.5 percent to 10.98 billion in mid-October 2021 from 11.75 billion in mid-July 2021. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Even at the peak of the festive season, the inflow of remittance declined this year. According to the report, the remittance inflow has declined by 7.6% in September. In the review period of the last fiscal year, the remittance inflow had increased by 12.7%. The remittance inflow has been declining since the beginning of the current fiscal year. Remittance inflow has dropped to Rs 239 billion in the first three months of the current fiscal year against Rs 258 billion in corresponding period of the last fiscacl year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The current account remained at a deficit of Rs.151.70 billion in the review period against a surplus of Rs.33.38 billion in the same period of the previous year. Likewise, Balance of Payments (BOP) remained at a deficit of Rs.76.14 billion in the review period against a surplus of Rs.101.09 billion in the same period of the previous year. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The year-on-year consumer price inflation stood at 4.24 percent in the third month of 2021/22 compared to 3.79 percent a year ago. Food and beverage inflation stood at 3.63 percent whereas non-food and service inflation stood at 4.72 percent in the review month. According to the NRB report, the price of ghee and oil; meat and fish; pulses and legumes; tobacco products and non-alcoholic drinks sub-categories rose 31.68 percent, 11.93 percent, 10.71 percent, 10.12 percent and 9.63 respectively on y-o-y basis.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Meanwhile, the economy has witnessed increase in the pledges of foreign direct investment (FDI). It has increased by 73.5% to Rs 5.07 billion in the review period. In the same period of the last year, FDI pledges amounted to Rs 2.92 billion.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"> Dev Kumar Dhakal, Spokesperson of central bank said that the overall economy has witnessed improvement. The central bank is taking initiatives to make tangible reforms in the economy. It is preparing to take strict measures in importing gold and other luxury items.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14058', 'image' => '20211117042320_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-11-17 16:22:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14312', 'article_category_id' => '1', 'title' => 'Preparation Afoot to Increase Flight Frequency between India and Nepal', 'sub_title' => 'Indian Embassy proposes 56 flights per week', 'summary' => 'November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">November 17: Preparations are underway to increase the number of flights between Nepal and India with the decline in number of Covid-19 cases. Discussions have been held between the two governments to increase the number of flights to 56 flights a week through air bubble agreement.</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:"Times New Roman","serif"">The Indian Embassy has reportedly asked the Ministry of Culture, Tourism and Civil Aviation to increase the number of flights. At present, there are 14 flights a week along the Kathmandu-Delhi route. It has seven flights from Nepal and India each.</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:"Times New Roman","serif"">The number of flights between Nepal-India was reduced due to the surge in Covid-19 cases.</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:"Times New Roman","serif"">According to Buddhisagar Lamichhane, Joint Secretary at the Civil Aviation Division of the Ministry, the number of flights will be increased to 56 flights a week from 14 flights, as per the air bubble agreement.</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:"Times New Roman","serif"">"There is a proposal from the Indian embassy to increase the number of flights," he said.</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:"Times New Roman","serif"">Stating that India has now proposed to operate 28 flights each from the air operators of both the countries, he added that Nepal is positive about it and the same number of flights could be finalized.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-17', 'modified' => '2021-11-17', 'keywords' => '', 'description' => '', 'sortorder' => '14057', 'image' => '20211117122510_20191031120033_1572142676.jpg', 'article_date' => '2021-11-17 12:24:12', '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
