November 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in…
November 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in…
November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion…
November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC)…
November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two…
November 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast…
November 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time.…
November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban…
November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the…
November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign…
October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff.…
October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra…
October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone…
October 31: Chandragiri Municipality has opened a hiking and cycling trail to attract domestic and foreign adventure…
…
October 31: The country has witnessed chilly days as the winter sets in.…
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He announced his resignation ahead of the vote of confidence. </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"">Acharya was appointed executive head of Province 1 on August 26 following the resignation of his predecessor Sher Dhan Rai. </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"">After the resignation of Chief Minister Acharya, Province 1 Chief Somnath Adhikari has set a deadline until 1:00 pm Tuesday to submit claims for the post of new chief minister. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The opposition alliance is preparing to make CPN (Unified Socialist) parliamentary party leader Rajendra Rai the new chief minister.</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 </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">coalition of opposition parties in Province 1 have collected signatures of 49 Provincial Assembly (PA) members to elect the next Chief Minister. </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 minimum of 47 signatures are enough to elect a new chief minister in the 92-member Provincial Assembly of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Chief Minister of Karnali Province, Mahendra Bahadur Shahi, has also tendered his resignation as per an understanding reached with Nepali Congress to hand over the leadership to NC leader Jeevan Bahadur Shahi. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">While taking vote of confidence on April 16, 2021the outgoing chief minister Mahendra had reached an understanding with Nepali Congress to hand over power after six months. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13976', 'image' => '20211102115151_Province_No._1.jpg', 'article_date' => '2021-11-02 11:51:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14230', 'article_category_id' => '1', 'title' => 'Optical Fibre Expansion Taking Place at Snail's Pace', 'sub_title' => '', 'summary' => 'November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had initiated the project in 2016 with a goal of expanding the optical fibre network within two years, but only 46.53 per cent of work has been completed till October 17, the state-owned national news agency RSS reported citing the project officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the NTA has mobilized the Rural Telecommunications Development Fund to expand the broadband internet service across the country. The NTA had decided to utilize the fund on June 13, 2016 to make the broadband internet service accessible in community schools, campuses, health posts, agriculture centres, tourism centres, all the wards and public places. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA further said that the Mid-hill Highway and district headquarters are being connected to internet facility under the information superhighway project. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had given the responsibility to install fibre along 6,235 kilometres of the Mid-Hill Highway to three separate companies dividing the project into three packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Under the first package, works have been launched in Province 1, Province 2 and Bagmati Province by forging agreement with Nepal Telecom. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As per the agreement, the NT has to install fibre along 2,083 kilometres in three provinces but it has laid the fibre only along 1,013 kilometres in five years. In August, the overall progress was 46.16 percent with the completion of laying the fibre along 1,006-km length. The progress over the next one and a half months was the extension of the fibre in just 7 kilometers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NTA had signed an agreement with Nepal Telecom on September 28, 2012, in order to lay the fibre from eastern Nepal to Gorkha within two years under the first package. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, installation of optical fibre in 21 districts of Gandaki and Lumbini provinces under the second package has not started yet. The expansion work has been halted after a case was filed at the Supreme Court against the project, RSS stated. </span></span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13975', 'image' => '20211102081709_20210831104852_20210221040652_20191021115126_adsfjjj.jpg', 'article_date' => '2021-11-02 08:16:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14229', 'article_category_id' => '1', 'title' => 'US Expresses Concern Over Delay in Ratifying MCC Compact', 'sub_title' => '', 'summary' => 'November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Issuing a statement, the MCC head office located in Washington DC on October 28, the day the president prorogued the parliament session, expressed its disappointment over the delay in ratifying the grant agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">It states that the delay in ratifying the MCC has risked reliable access to provide energy and safe road access to more than 23 million Nepalis. The political leaders of the current coalition government have said they have taken note of the steps needed to approve the compact.</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 statement also mentions the recent commitments and support from the government of Nepal which have paved the way for the agreement to move forward.</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 government and the MCC signed a USD 500 million grant agreement in 2017 for the expansion of Nepal's energy infrastructure and construction of road infrastructure. However, due to differences among the political parties over the MCC compact, uncertainty lies if the MCC will be ratified. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13974', 'image' => '20211101122216_MCC.jpg', 'article_date' => '2021-11-01 12:21:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14228', 'article_category_id' => '1', 'title' => 'Nepal-India Friendly Bus Service Resumes ', 'sub_title' => '', 'summary' => 'November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepalgunj-based Bheri Transport Pvt Ltd has been operating the Nepal-India passenger friendly transport service from Nepalgunj to India’s capital New Delhi, as well as Uttar Pradesh state’s capital Lucknow, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Bheri Transport Pvt Ltd Rajendra Giri said the Nepal-India passenger friendly bus service has been resumed from Sunday (October 31) with the permission for cross-border vehicular operation following the reduced risk of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shutdown of bus services had incurred a big financial loss to the bus entrepreneurs. The resumption of bus service has eased the problems of Nepali passengers traveling to and from Indian cities, including Delhi, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Giri, a passenger bus from Nepalgunj to Delhi leaves at 5.00 pm while Nepalgunj-bound bus from Delhi departs at 5.00 pm. The buses for Deharadun and Haridwar leave at 8.00 pm from Nepalgunj, Giri informed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13973', 'image' => '20211101120429_20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2021-11-01 12:03:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14226', 'article_category_id' => '1', 'title' => 'Middle Bhotekoshi Hydropower Project Making Encouraging Progress', 'sub_title' => '', 'summary' => 'November 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.', '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 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.</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 the project officials, the construction of the project is 75 percent complete. The target is to complete the construction by 2079 BS (mid-January 2023). The Chilime Hydropower Company with majority shares of Nepal Electricity Authority is undertaking the construction of the project in Sindhupalchowk. The capacity of the project is 102 MW. </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 target is to complete the construction of the main structure of the project including the dam, sand dredging pond before the onset of the rainy season. The NEA has stated that the construction of the powerhouse building will be completed within the next five months, and the remaining 415 meters of the 7.2 km tunnel will be completed within three months.</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 Jure landslide in July 2015, catastrophic earthquake in April 2015, obstruction of Nepal-India border for about five and a half months from September 2015, floods in Bhotekoshi river in June 2016, floods in Bhotekoshi river and surrounding areas in June last year, and Covid-19 pandemic had affected the construction work of the project.</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 completion of the project was affected due to natural calamities and poor performance of the Chinese company Kwangsi Hydro and Electrical Construction, which had bagged the contract for civil and hydro mechanical works.</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 Chinese company was awarded the contract in the engineering, procurement, and construction (EPC) model of civil and hydromechanical work to prevent the cost of the project from increasing. Andritz Group is undertaking the electro-mechanical work. Andritz Group has already brought the equipment to the project site.</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"">Last year's flooding of the Bhotekoshi River inundated the store house of the project and damaged the equipment. The estimated cost of the project was Rs 12.28 billion excluding interest during the construction period when the loan agreement was signed with the Employees Provident Fund. The revised estimated cost of the project is Rs 15.32 billion excluding interest for the construction period. Out of the total initial cost of the project under construction, 50 percent has been raised from capital investment and 50 percent from loans.</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"">Of the 51 percent founding shareholders of the company's issued capital, NEA owns 10 percent. Similarly, Chilime Hydropower Company Limited owns 37 percent, Sindhupalchok Hydropower 1 percent, Nepal Araniko Hydropower 1 percent, Sindhu Investment Company 1 percent, and Sindhu Bhotekoshi Hydropower 1 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"">The general public owns 49 percent of the shares. The employees of the Employees' Provident Fund have 19.5 percent shares, the employees of the founding organization 3.5 percent, the employees of the lending organization 1 percent, the locals of Sindhupalchowk district 10 percent, and the general public 15 percent. The company has recently sold shares to the public through the issuance of IPO.</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 project will generate 542.2 million units of electricity annually. NEA will purchase the project's electricity at Rs 8.40 per unit and Rs 4.80 per unit in the winter and rainy seasons, respectively. The company is expected to earn Rs 2.90 billion annually by selling electricity to NEA.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13972', 'image' => '20211101112917_jcl Adit-ersion Tunnel).jpg', 'article_date' => '2021-11-01 11:27:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14227', 'article_category_id' => '1', 'title' => 'Government Begins Process to Appoint Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. ', '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 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. The government has begun the recruitment procedure after the dismissal of Bhisma Raj Dhungana as the chief of SEBON.</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 Ministry of Finance began the procedures to appoint the chairman SEBON by publishing a notice on Thursday (October 28). On the other hand, the process to appoint the CEO of NEPSE is also underway.</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 government had decided to dismiss Dhungana after the shocking revelation of his alleged involvement in the insider trading scandal in the purchase of the shares of Sarbottam Cement. Meanwhile, the CEO position of NEPSE has been vacant since Chandra Singh Saud resigned from his post to facilitate investigation into a similar accusation.</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"">Interested Nepali citizens can apply for the post of Chairman of SEBON within the fifteen days i.e., November 11, 2021 at the Financial Sector Management and Corporation Coordination Division of the Ministry of Finance, Singha Durbar by submitting the sealed application.</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 Nepali citizen with at least seven years of professional experience in the field of securities market management, capital market development, economic, financial and commerce management or legal field can apply for the post. The notice also states that the applicant should not have been disqualified as per Section 11 of the Securities Act, 2063 BS and should not have reached the age of 60 years after completing a tenure of three years.</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 Ministry of Finance has already formed a selection committee for shortlisting the candidates for the post. The committee will recommend the names of at least three applicants. The Council of Ministers will appoint the chairman of the Board from among the recommended names.</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"">In the same manner, the government has also sought applications for the position of the CEO of NEPSE by issuing a public notice. Interested candidates have been asked to submit sealed application for the post within fifteen days. The process of appointing the CEO of NEPSE has been moved forward through open competition.</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 aspiring candidates for the post of CEO need to submit their qualification documents as well as a business action plan. The applicant must have completed 30 years of age and should not have exceeded the age of 60 years. Alongside the application, the application fee of Rs 3,000 should be paid within the deadline of November 13.</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"">In case of no legal or general hurdles, it is likely that both the regulatory bodies will complete the appointment process within December and the tenure of the officials would start from the same month as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13971', 'image' => '20211101114418_20161018015610_sebon.jpg', 'article_date' => '2021-11-01 11:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14224', 'article_category_id' => '1', 'title' => 'Experts Stress on Environment-Friendly Development in Cities ', 'sub_title' => '', 'summary' => 'November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas. Nepal is marking this day since 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Member of the National Planning Commission Dr Pushpa Raman Wagle stated that the cities should focus on well-managed and environment-friendly development, adding that population of Nepal’s 293 municipalities has reached over 62 per cent of the country’s total population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle said that the Kathmandu Valley should develop ideas for converting the waste into something valuable since the city was spending millions of rupees for waste management every year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC’s former Vice Chairman Dr Jagadish Chandra Pokharel said that the stakeholders should pay much attention for the development of urban areas and the announcement of municipality should not be merely for the purpose of tax collection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Chairman of High Powered Committee for Integrated Development of the Bagmati Civilization Uddhab Prasad Timalsena said that the river civilization of the cities should be given the first priority while working for the development of urban areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretaries at the Ministry of Urban Development Bishnu Prasad Sharma, Padhma Kumar Mainali and others also expressed their views at the event. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13970', 'image' => '20211101083101_20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-11-01 08:30:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14225', 'article_category_id' => '1', 'title' => 'Government Preparing to Run Defunct State-owned Factories: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the municipal conference of YCL Nepal in Hetauda on Sunday (October 31), Minister Sharma said that the government is planning to run Hetauda Textile Industry, Gorakhkali Tyre Industry and other industries to create employment for thousands of youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Giving details regarding the subsidy and allowance given by the government to the injured, marginalized population and other vulnerable communities, Minister Sharma stated that the government would give the sense of its pro-people gesture to the citizens. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13969', 'image' => '20211101083326_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-01 08:32:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14223', 'article_category_id' => '1', 'title' => 'Government is Committed to Encourage Foreign Investment: PM Deuba ', 'sub_title' => '', 'summary' => 'November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em>Prime Minister Sher Bahadur Deuba in London. Photo Courtesy: Nepalese People Coordination Committee</em> </span></span><br /> <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM made such remark while addressing a programme organised in his honour by the Britain-based Nepalese People Coordination Committee on Saturday. PM Deuba reiterated that the government would support in encouraging foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that the issue of granting Nepali citizenship to the non-resident Nepalis is related to the Constitution of Nepal, and it would not be possible at the moment. Pointing out the possibility of the Nepalis who have acquired British citizenship of becoming MPs in the UK, the PM appreciated the non-resident Nepalis for continuously extending cooperation to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the committee Yubaraj Gurung on the occasion briefed the prime minister on the activities of the committee and also drew his attention to the problems and challenges faced by the non-resident Nepalis in the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba arrived in London on Friday night, leading the Nepalese delegation to the World Leaders' Summit in the 26th Conference of Parties to the United Nations Framework Convention on Climate Change (COP26). The COP26 is taking place in Glasgow city of Scotland, the UK from November 1 to November 12. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13968', 'image' => '20211101082342_250753954_1041288010059977_2838144353796542526_n.jpg', 'article_date' => '2021-11-01 08:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14222', 'article_category_id' => '1', 'title' => 'Hotels Demand New Staff as Covid-19 Infection Declines', 'sub_title' => '', 'summary' => 'October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. ', '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"">October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. Mostly, hotels outside the Kathmandu Valley have started demanding staff.</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 hotel sector, which has been working with a minimum number of employees, is now demanding new employees.</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"">Hotels like Hyatt Regency and Radisson Hotel in Kathmandu have announced vacancies.</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"">Hyatt Regency Kathmandu has demanded employees ranging from event service managers to Indian chefs. The deserted hotels of Thamel have also demanded staff. Likewise, the three-star Marshyangdi Hotel in Thamel, Kathmandu has also opened an advertisement seeking new employees. Hotel Crown Imperial as well as Yak & Yeti Hotel in Kathmandu have also demanded employees.</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"">Similarly, Siddhartha Hospitality Group has demanded staff. Hotel Siddhartha has demanded staff for Nepalgunj.</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"">People who have not been able to travel for a long time have started going out for sightseeing and now domestic tourism is getting the tourism industry back on track. Due to this, hotels in Pokhara, Chitwan, and the Terai region are demanding staff. </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"">Dream International Hotel in Butwal has published an advertisement demanding a large number of employees.</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 hotel has demanded 65 employees. The resorts of Dhulikhel, a destination near the valley, have also opened advertisement demanding staff.</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"">Hoteliers say new hotels are demanding staff due to increase in tourism activities. Covid-19 infections are on the decline, and tourism is improving due to on-arrival visas. Domestic tourism activities have also increased. That is why employees have been demanded, said Binayak Shah, senior vice-president of the Hotel Association of Nepal (HAN).</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 a study would be conducted after the festive season regarding the number of employees and workers returning to hotels after the lockdown. Hotels that have reopened their services with only 5 to 10 percent employees during the lockdown have started hiring employees again. Shah says that the business has increased due to the increase in the number of tourists.</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 information about tourists visiting Nepal has been obtained through the old network and agencies, Shah said that now there is competition in world tourism. "Other countries also need tourists," 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"">He said that the main concern now is how to protect the tourists coming to Nepal from Covid-19. He said that the current marketing strategy will be different.</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"">Tourism entrepreneurs say that they will prepare packages and other programs after the festivals targeting domestic tourists. Tourism professionals hope that the current situation will gradually improve from the beginning of 2022.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13967', 'image' => '20211031013006_Hotel.jpg', 'article_date' => '2021-10-31 13:29:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14221', 'article_category_id' => '1', 'title' => 'Foreign Exchange Derivative Market of Nepal still in Developing Stage: NRB', 'sub_title' => '', 'summary' => 'October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank.', '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"">October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank. The report reviewed the current practices of the foreign exchange-based derivative market in Nepal on the issues like liquidity, market participation, legal provisions and sectoral knowledge. </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 study points out the need for a separate law to govern foreign exchange derivative market. The survey was conducted amongst commercial banks, development banks, and non-financial firms. It has found that the derivative instruments used in Nepal are limited to forward and swaps, with non-deliverable forwards dominating the volume of trade.</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"">All commercial banks in Nepal are involved in the forwards market while half of the banks are involved in swaps. According to the study, none of the national level development banks use any derivative instruments. Development banks manage foreign exchange risk through asset liability matching. </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"">Commercial banks have conducted such transactions of Rs 228.94 billion in 2020. The report states that such transactions increased relatively in 2020. In 2018 and 2019, such transactions amounted to Rs 228.71 and 143.12 billion respectively.</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"">Similarly, only 12% of non-financial firms have used derivative products and 37 % of firms have stated that there is no foreign exchange risk in their daily transactions which has discouraged the use of derivative products. </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 report states foreign exchange derivatives markets of India, Bangladesh, Pakistan and Sri Lanka are more organized than other countries in South Asia. According to the report, standardization of derivative instruments in the OTC market along with adding market participants will further support the development of the market. The report states that in order to facilitate the current over-the-counter (OTC) market and attract foreign direct investment, forwards, swaps and alternatives need to be promoted in the long run.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report has highlighted the need of an organized exchange market with sufficient legal provisions. The participants of the survey have suggested to open up the two-way quotes, easy access to the derivative products based on the prospective exposure, opening investment opportunity to the Foreign Institutional Investors and addressing peg risk concerns with Nepali currency. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13966', 'image' => '20211031125947_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-31 12:58:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14220', 'article_category_id' => '1', 'title' => 'Prices of Iron Rods and Cement Go Up', 'sub_title' => '', 'summary' => 'October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up.', '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"">October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up. The infrastructure development in Nepal starts after the Dashain, Tihar, and Chhath festivals. The prices of construction materials and cement have risen with the onset of the construction season and rising prices of coal in the international market.</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 price of an iron rod has gone up by Rs 6 to 10 while the price of cement is expected to rise by 20 percent. Ravi Singh, president of the Federation of Contractors Association of Nepal, said that the price hike of iron-based construction materials would hit the country at the start of the construction season. He said that the government's policy on the import of sponge iron and billet was estimated to reduce the price of iron ore but it has gone reverse resulting in a price hike.</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 Singh, the market price of rods made from sponge iron and prime billet were Rs 79 and Rs 83 respectively before the Replacement Bill was announced. But now, the cost price of iron rods is anything between Rs 102 to Rs 106, he added.</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"">Singh said that the price has been hiked due to carteling at a time when the rolling mills have almost stopped production.</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 added that large cement industries have not shown any interest in reducing prices despite tough competition among themselves. </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"">Meanwhile, the President of Nepal Cement Producers Association Dhurba Thapa confirmed that the price of cement has also gone up by 20 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thapa said that the price of coal has also gone up in Nepal due to the price hike in the international market and the price of cement has also gone up in India. Thapa said that all the cement industries are likely to increase the prices within a month even though some industries have already hiked the prices. "There is a fear that the price of coal in the world market will go up and there will be a shortage of coal," 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"">Similarly, Chairman of Saurabh Group Bishnu Prasad Neupane also said that the price of coal has gone up in the international market.</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"">Industries that produce iron rods by producing billets within the country have increased the price by Rs 6 while industries producing rods by importing the billets have hiked the price by Rs 10. The industries have to pay Rs 34 per kg for importing coal compared to Rs 15 in the past, so the price of cement has gone up, informed Neupane. </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"">Earlier, the price of the rod was Rs 84, but it has now gone up by Rs 6 to 10. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13965', 'image' => '20211031124624_1635637400.jpg', 'article_date' => '2021-10-31 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14219', 'article_category_id' => '1', 'title' => 'Hiking and Cycling Trails Upgraded in Chandragiri Municipality to Promote Tourism', 'sub_title' => '', 'summary' => 'October 31: Chandragiri Municipality has opened a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. ', '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"">October 31: Chandragiri Municipality has upgraded a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. </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 municipality, in collaboration with Nepal Tourism Board (NTB) and the United Nations Development Project (UNDP), has upgraded a hiking and cycling trail in the foothills of Chandragiri hill at Chandragiri-6 under Sustainable Tourism for Livelihood Recovery Project (STLRP). </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"">Mani Lamichhane, director of NTB, informed that STLRP is an initiative of the tourism board to provide a short-term livelihood opportunity to tourism professionals affected by the Covid-19 pandemic. </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"">Due to the catastrophic impact of the pandemic, many individuals involved in tourism have been struggling for their livelihood. So, NTB, analyzing the grim situation of the people involved in tourism, started a pilot project – STLRP. </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"">“NTB is thankful to the UNDP for funds. UNDP was bound to allocate the grant to Vietnam. However, the multinational institute was impressed with the result of our pilot project and later offered the funding to us,” Lamichhane added. </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"">Currently, NTB has collaborated with the Trekking Agencies Association of Nepal (TAAN) to recruit tourism profession under the STLRP for short-term employment. </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 program aims to provide short-term work to around 3000 tourism professionals for 10-40 working days. </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"">NTB, UNDP, and Chandragiri municipality have invested Rs 3.2 million to upgrade the hiking and cycling trail under STLRP. </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 Lamichhane, the STLRP has a budget of USD 1 million each from UNDP and NTB. </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 local government of Chandragiri Municipality also has made its contribution to upgrading the trails. </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"">Speaking at an event organized jointly by Chandragiri Municipality and NTB at Matatirtha premises on October 29 to introduce the trial to tourism journalists, Ghanshyam Giri, Mayor of Chandragiri Municipality, said that the trail upgraded under the SLTRP helps the municipality to attract tourists and create employment for the locals. </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"">Chandragiri falls among the 100 destinations selected by the for tourism promotion and infrastructure development. </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"">Giri added that the municipality is grateful to NTB for initiating the STLRP for developing tourism infrastructure. He further said that his team is committed to promoting and developing tourism from their level. </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 SLTRP project has made a small but crucial contribution to tourism professionals like Abhishek BK, who have been rendered jobless for the past two years and are struggling to feed their families. </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"">BK is a trekking guide from Solukhumbu and is currently residing in Lalitpur. He and 32 others involved in the tourism sector, including Everest submitters, have been employed at the hiking and cycling trail, starting from Matatirtha. </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"">NTB and TAAN have provided BK with ten days of work at the rate of Rs 1000 per day.</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 upgrading work initiated on September 12, 2021, is scheduled to be completed by November 2. </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 Matatirtha hiking trail is about 2 km, and the cycling trail is 5 km in length. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13964', 'image' => '20211031113441_IMG-20211030-WA0000.jpg', 'article_date' => '2021-10-31 11:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14218', 'article_category_id' => '1', 'title' => '‘Now is the Time to Develop the Culture of Entrepreneurship’ ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Mahabir Pun</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">President, National Innovation Center </span></span></strong> </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 concept of startup is relatively new in Nepal. It has not been long since the concept was developed. Startup and entrepreneurship are necessary to develop the economy of the country. However, entrepreneurship has not developed in the country as there is a lack of entrepreneurship culture. Nepal needs to develop a culture of entrepreneurship, but there has never been such a thing in Nepal in history. Except for a few percent of the population, that culture does not exist. Nevertheless, we have now slowly realised the need of startup and entrepreneurship. It is a good thing that it has started but we are late. This kind of environment should have started in our grandfathers’ time. But, it’s better late than never. </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"">Startup is an attempt to start an enterprise. But the government has not understood such a thing yet. In order to develop entrepreneurship, the government representatives need to study about startups and entrepreneurship. Those who lead the society without the entrepreneurial culture do not understand startup business. Further, they cannot bring a corresponding policy and implement it as well. So it is time that they study this issue now. </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"">We often blame the government but the fault lies with the society because we could not establish the entrepreneurship culture. Society should now understand that and promote such culture. Till date, Nepali parents do not support their children to become entrepreneurs. When parents and society do not support innovation, the idea of young people to become entrepreneurs is suppressed and they are forced to work for others. Even the universities in the country do not have a system to support ideas of such innovative students. Since there is no entrepreneurship culture, there is a lack of employment opportunities which eventually leads youths of the country to go abroad. And we need to know that startup entrepreneurs create more employment opportunities and hold the youths in the country. </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 National Innovation Center is made to address such issues. We support new ideas and help them create their ideas and innovation into reality. If you have ideas and wish to become an entrepreneur, we will help raise the capital, search investors, and help provide tools, mentorship and space to implement that idea and get intellectual property right. The only thing you should do is work hard. </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"">Until we do so, the country's talents cannot develop. Eventually, the country will move towards development. Youths are the fundamentals for the development of the country so we have to encourage them and prevent them seek greener pastures abroad.</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 another thing that I do not find in the entrepreneurs and businesses of the country. Before starting a startup, there is no culture of doing research on that idea and studying whether the idea is commercially viable or not. </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"">This is an experiment. Instead of not doing anything, we have to try once even if it fails or becomes a success. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em><span style="font-family:"Calibri","sans-serif"">(Views expressed during an interactive training of NewBiz Startup Summit and Awards 2021)</span></em></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13963', 'image' => '20211031111446_1A1A3568.JPG', 'article_date' => '2021-10-31 11:14:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14217', 'article_category_id' => '1', 'title' => 'Country Experiences Cold Weather as Winter Sets In', 'sub_title' => 'Jumla's Temperature Recorded 2 Degrees Celsius ', 'summary' => 'October 31: The country has witnessed chilly days as the winter sets in. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 31: The country has witnessed chilly days as the winter sets in. The minimum temperature of the Kathmandu Valley has dipped to 10.6 degrees Celsius on Saturday which was 12.1 degrees a day before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, temperature of the country including Kathmandu Valley has started declining up to 1-2 degrees Celsius every day on an average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Shanti Kandel shared mercury level will continue to plummet. Winter begins with the influence of westerly wind in Nepal's atmosphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, temperature in the afternoon has also started dropping by two to three degrees Celsius for the fast few days, the department further shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, the weather of hill and mountainous regions is partly cloudy while rest of the country is generally clear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Meteorological Forecasting Division, there is possibility of light snowfall at one or two places of high-hilly and mountainous areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the latest details of the Division, the minimum temperature of Kathmandu Valley on Saturday was recorded at 10.6 degrees Celsius and maximum temperature was 25.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Jumla recorded the lowest temperature measuring 2.0 degrees Celsius while Janakpur had the highest temperature of 31 degrees. </span></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13962', 'image' => '20211031081931_20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-10-31 08:18:48', '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' => '14232', 'article_category_id' => '1', 'title' => 'Bhim Acharya Steps Down as Chief Minister of Province 1', 'sub_title' => '', 'summary' => 'November 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in office.', '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 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in office.</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"">Addressing the Provincial Assembly meeting on Monday, Chief Minister Acharya announced his resignation. He announced his resignation ahead of the vote of confidence. </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"">Acharya was appointed executive head of Province 1 on August 26 following the resignation of his predecessor Sher Dhan Rai. </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"">After the resignation of Chief Minister Acharya, Province 1 Chief Somnath Adhikari has set a deadline until 1:00 pm Tuesday to submit claims for the post of new chief minister. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The opposition alliance is preparing to make CPN (Unified Socialist) parliamentary party leader Rajendra Rai the new chief minister.</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 </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">coalition of opposition parties in Province 1 have collected signatures of 49 Provincial Assembly (PA) members to elect the next Chief Minister. </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 minimum of 47 signatures are enough to elect a new chief minister in the 92-member Provincial Assembly of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Chief Minister of Karnali Province, Mahendra Bahadur Shahi, has also tendered his resignation as per an understanding reached with Nepali Congress to hand over the leadership to NC leader Jeevan Bahadur Shahi. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">While taking vote of confidence on April 16, 2021the outgoing chief minister Mahendra had reached an understanding with Nepali Congress to hand over power after six months. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13976', 'image' => '20211102115151_Province_No._1.jpg', 'article_date' => '2021-11-02 11:51:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14230', 'article_category_id' => '1', 'title' => 'Optical Fibre Expansion Taking Place at Snail's Pace', 'sub_title' => '', 'summary' => 'November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had initiated the project in 2016 with a goal of expanding the optical fibre network within two years, but only 46.53 per cent of work has been completed till October 17, the state-owned national news agency RSS reported citing the project officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the NTA has mobilized the Rural Telecommunications Development Fund to expand the broadband internet service across the country. The NTA had decided to utilize the fund on June 13, 2016 to make the broadband internet service accessible in community schools, campuses, health posts, agriculture centres, tourism centres, all the wards and public places. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA further said that the Mid-hill Highway and district headquarters are being connected to internet facility under the information superhighway project. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had given the responsibility to install fibre along 6,235 kilometres of the Mid-Hill Highway to three separate companies dividing the project into three packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Under the first package, works have been launched in Province 1, Province 2 and Bagmati Province by forging agreement with Nepal Telecom. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As per the agreement, the NT has to install fibre along 2,083 kilometres in three provinces but it has laid the fibre only along 1,013 kilometres in five years. In August, the overall progress was 46.16 percent with the completion of laying the fibre along 1,006-km length. The progress over the next one and a half months was the extension of the fibre in just 7 kilometers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NTA had signed an agreement with Nepal Telecom on September 28, 2012, in order to lay the fibre from eastern Nepal to Gorkha within two years under the first package. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, installation of optical fibre in 21 districts of Gandaki and Lumbini provinces under the second package has not started yet. The expansion work has been halted after a case was filed at the Supreme Court against the project, RSS stated. </span></span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13975', 'image' => '20211102081709_20210831104852_20210221040652_20191021115126_adsfjjj.jpg', 'article_date' => '2021-11-02 08:16:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14229', 'article_category_id' => '1', 'title' => 'US Expresses Concern Over Delay in Ratifying MCC Compact', 'sub_title' => '', 'summary' => 'November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Issuing a statement, the MCC head office located in Washington DC on October 28, the day the president prorogued the parliament session, expressed its disappointment over the delay in ratifying the grant agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">It states that the delay in ratifying the MCC has risked reliable access to provide energy and safe road access to more than 23 million Nepalis. The political leaders of the current coalition government have said they have taken note of the steps needed to approve the compact.</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 statement also mentions the recent commitments and support from the government of Nepal which have paved the way for the agreement to move forward.</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 government and the MCC signed a USD 500 million grant agreement in 2017 for the expansion of Nepal's energy infrastructure and construction of road infrastructure. However, due to differences among the political parties over the MCC compact, uncertainty lies if the MCC will be ratified. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13974', 'image' => '20211101122216_MCC.jpg', 'article_date' => '2021-11-01 12:21:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14228', 'article_category_id' => '1', 'title' => 'Nepal-India Friendly Bus Service Resumes ', 'sub_title' => '', 'summary' => 'November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepalgunj-based Bheri Transport Pvt Ltd has been operating the Nepal-India passenger friendly transport service from Nepalgunj to India’s capital New Delhi, as well as Uttar Pradesh state’s capital Lucknow, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Bheri Transport Pvt Ltd Rajendra Giri said the Nepal-India passenger friendly bus service has been resumed from Sunday (October 31) with the permission for cross-border vehicular operation following the reduced risk of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shutdown of bus services had incurred a big financial loss to the bus entrepreneurs. The resumption of bus service has eased the problems of Nepali passengers traveling to and from Indian cities, including Delhi, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Giri, a passenger bus from Nepalgunj to Delhi leaves at 5.00 pm while Nepalgunj-bound bus from Delhi departs at 5.00 pm. The buses for Deharadun and Haridwar leave at 8.00 pm from Nepalgunj, Giri informed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13973', 'image' => '20211101120429_20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2021-11-01 12:03:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14226', 'article_category_id' => '1', 'title' => 'Middle Bhotekoshi Hydropower Project Making Encouraging Progress', 'sub_title' => '', 'summary' => 'November 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.', '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 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.</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 the project officials, the construction of the project is 75 percent complete. The target is to complete the construction by 2079 BS (mid-January 2023). The Chilime Hydropower Company with majority shares of Nepal Electricity Authority is undertaking the construction of the project in Sindhupalchowk. The capacity of the project is 102 MW. </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 target is to complete the construction of the main structure of the project including the dam, sand dredging pond before the onset of the rainy season. The NEA has stated that the construction of the powerhouse building will be completed within the next five months, and the remaining 415 meters of the 7.2 km tunnel will be completed within three months.</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 Jure landslide in July 2015, catastrophic earthquake in April 2015, obstruction of Nepal-India border for about five and a half months from September 2015, floods in Bhotekoshi river in June 2016, floods in Bhotekoshi river and surrounding areas in June last year, and Covid-19 pandemic had affected the construction work of the project.</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 completion of the project was affected due to natural calamities and poor performance of the Chinese company Kwangsi Hydro and Electrical Construction, which had bagged the contract for civil and hydro mechanical works.</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 Chinese company was awarded the contract in the engineering, procurement, and construction (EPC) model of civil and hydromechanical work to prevent the cost of the project from increasing. Andritz Group is undertaking the electro-mechanical work. Andritz Group has already brought the equipment to the project site.</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"">Last year's flooding of the Bhotekoshi River inundated the store house of the project and damaged the equipment. The estimated cost of the project was Rs 12.28 billion excluding interest during the construction period when the loan agreement was signed with the Employees Provident Fund. The revised estimated cost of the project is Rs 15.32 billion excluding interest for the construction period. Out of the total initial cost of the project under construction, 50 percent has been raised from capital investment and 50 percent from loans.</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"">Of the 51 percent founding shareholders of the company's issued capital, NEA owns 10 percent. Similarly, Chilime Hydropower Company Limited owns 37 percent, Sindhupalchok Hydropower 1 percent, Nepal Araniko Hydropower 1 percent, Sindhu Investment Company 1 percent, and Sindhu Bhotekoshi Hydropower 1 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"">The general public owns 49 percent of the shares. The employees of the Employees' Provident Fund have 19.5 percent shares, the employees of the founding organization 3.5 percent, the employees of the lending organization 1 percent, the locals of Sindhupalchowk district 10 percent, and the general public 15 percent. The company has recently sold shares to the public through the issuance of IPO.</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 project will generate 542.2 million units of electricity annually. NEA will purchase the project's electricity at Rs 8.40 per unit and Rs 4.80 per unit in the winter and rainy seasons, respectively. The company is expected to earn Rs 2.90 billion annually by selling electricity to NEA.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13972', 'image' => '20211101112917_jcl Adit-ersion Tunnel).jpg', 'article_date' => '2021-11-01 11:27:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14227', 'article_category_id' => '1', 'title' => 'Government Begins Process to Appoint Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. ', '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 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. The government has begun the recruitment procedure after the dismissal of Bhisma Raj Dhungana as the chief of SEBON.</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 Ministry of Finance began the procedures to appoint the chairman SEBON by publishing a notice on Thursday (October 28). On the other hand, the process to appoint the CEO of NEPSE is also underway.</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 government had decided to dismiss Dhungana after the shocking revelation of his alleged involvement in the insider trading scandal in the purchase of the shares of Sarbottam Cement. Meanwhile, the CEO position of NEPSE has been vacant since Chandra Singh Saud resigned from his post to facilitate investigation into a similar accusation.</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"">Interested Nepali citizens can apply for the post of Chairman of SEBON within the fifteen days i.e., November 11, 2021 at the Financial Sector Management and Corporation Coordination Division of the Ministry of Finance, Singha Durbar by submitting the sealed application.</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 Nepali citizen with at least seven years of professional experience in the field of securities market management, capital market development, economic, financial and commerce management or legal field can apply for the post. The notice also states that the applicant should not have been disqualified as per Section 11 of the Securities Act, 2063 BS and should not have reached the age of 60 years after completing a tenure of three years.</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 Ministry of Finance has already formed a selection committee for shortlisting the candidates for the post. The committee will recommend the names of at least three applicants. The Council of Ministers will appoint the chairman of the Board from among the recommended names.</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"">In the same manner, the government has also sought applications for the position of the CEO of NEPSE by issuing a public notice. Interested candidates have been asked to submit sealed application for the post within fifteen days. The process of appointing the CEO of NEPSE has been moved forward through open competition.</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 aspiring candidates for the post of CEO need to submit their qualification documents as well as a business action plan. The applicant must have completed 30 years of age and should not have exceeded the age of 60 years. Alongside the application, the application fee of Rs 3,000 should be paid within the deadline of November 13.</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"">In case of no legal or general hurdles, it is likely that both the regulatory bodies will complete the appointment process within December and the tenure of the officials would start from the same month as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13971', 'image' => '20211101114418_20161018015610_sebon.jpg', 'article_date' => '2021-11-01 11:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14224', 'article_category_id' => '1', 'title' => 'Experts Stress on Environment-Friendly Development in Cities ', 'sub_title' => '', 'summary' => 'November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas. Nepal is marking this day since 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Member of the National Planning Commission Dr Pushpa Raman Wagle stated that the cities should focus on well-managed and environment-friendly development, adding that population of Nepal’s 293 municipalities has reached over 62 per cent of the country’s total population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle said that the Kathmandu Valley should develop ideas for converting the waste into something valuable since the city was spending millions of rupees for waste management every year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC’s former Vice Chairman Dr Jagadish Chandra Pokharel said that the stakeholders should pay much attention for the development of urban areas and the announcement of municipality should not be merely for the purpose of tax collection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Chairman of High Powered Committee for Integrated Development of the Bagmati Civilization Uddhab Prasad Timalsena said that the river civilization of the cities should be given the first priority while working for the development of urban areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretaries at the Ministry of Urban Development Bishnu Prasad Sharma, Padhma Kumar Mainali and others also expressed their views at the event. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13970', 'image' => '20211101083101_20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-11-01 08:30:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14225', 'article_category_id' => '1', 'title' => 'Government Preparing to Run Defunct State-owned Factories: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the municipal conference of YCL Nepal in Hetauda on Sunday (October 31), Minister Sharma said that the government is planning to run Hetauda Textile Industry, Gorakhkali Tyre Industry and other industries to create employment for thousands of youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Giving details regarding the subsidy and allowance given by the government to the injured, marginalized population and other vulnerable communities, Minister Sharma stated that the government would give the sense of its pro-people gesture to the citizens. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13969', 'image' => '20211101083326_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-01 08:32:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14223', 'article_category_id' => '1', 'title' => 'Government is Committed to Encourage Foreign Investment: PM Deuba ', 'sub_title' => '', 'summary' => 'November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em>Prime Minister Sher Bahadur Deuba in London. Photo Courtesy: Nepalese People Coordination Committee</em> </span></span><br /> <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM made such remark while addressing a programme organised in his honour by the Britain-based Nepalese People Coordination Committee on Saturday. PM Deuba reiterated that the government would support in encouraging foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that the issue of granting Nepali citizenship to the non-resident Nepalis is related to the Constitution of Nepal, and it would not be possible at the moment. Pointing out the possibility of the Nepalis who have acquired British citizenship of becoming MPs in the UK, the PM appreciated the non-resident Nepalis for continuously extending cooperation to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the committee Yubaraj Gurung on the occasion briefed the prime minister on the activities of the committee and also drew his attention to the problems and challenges faced by the non-resident Nepalis in the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba arrived in London on Friday night, leading the Nepalese delegation to the World Leaders' Summit in the 26th Conference of Parties to the United Nations Framework Convention on Climate Change (COP26). The COP26 is taking place in Glasgow city of Scotland, the UK from November 1 to November 12. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13968', 'image' => '20211101082342_250753954_1041288010059977_2838144353796542526_n.jpg', 'article_date' => '2021-11-01 08:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14222', 'article_category_id' => '1', 'title' => 'Hotels Demand New Staff as Covid-19 Infection Declines', 'sub_title' => '', 'summary' => 'October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. ', '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"">October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. Mostly, hotels outside the Kathmandu Valley have started demanding staff.</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 hotel sector, which has been working with a minimum number of employees, is now demanding new employees.</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"">Hotels like Hyatt Regency and Radisson Hotel in Kathmandu have announced vacancies.</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"">Hyatt Regency Kathmandu has demanded employees ranging from event service managers to Indian chefs. The deserted hotels of Thamel have also demanded staff. Likewise, the three-star Marshyangdi Hotel in Thamel, Kathmandu has also opened an advertisement seeking new employees. Hotel Crown Imperial as well as Yak & Yeti Hotel in Kathmandu have also demanded employees.</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"">Similarly, Siddhartha Hospitality Group has demanded staff. Hotel Siddhartha has demanded staff for Nepalgunj.</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"">People who have not been able to travel for a long time have started going out for sightseeing and now domestic tourism is getting the tourism industry back on track. Due to this, hotels in Pokhara, Chitwan, and the Terai region are demanding staff. </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"">Dream International Hotel in Butwal has published an advertisement demanding a large number of employees.</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 hotel has demanded 65 employees. The resorts of Dhulikhel, a destination near the valley, have also opened advertisement demanding staff.</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"">Hoteliers say new hotels are demanding staff due to increase in tourism activities. Covid-19 infections are on the decline, and tourism is improving due to on-arrival visas. Domestic tourism activities have also increased. That is why employees have been demanded, said Binayak Shah, senior vice-president of the Hotel Association of Nepal (HAN).</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 a study would be conducted after the festive season regarding the number of employees and workers returning to hotels after the lockdown. Hotels that have reopened their services with only 5 to 10 percent employees during the lockdown have started hiring employees again. Shah says that the business has increased due to the increase in the number of tourists.</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 information about tourists visiting Nepal has been obtained through the old network and agencies, Shah said that now there is competition in world tourism. "Other countries also need tourists," 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"">He said that the main concern now is how to protect the tourists coming to Nepal from Covid-19. He said that the current marketing strategy will be different.</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"">Tourism entrepreneurs say that they will prepare packages and other programs after the festivals targeting domestic tourists. Tourism professionals hope that the current situation will gradually improve from the beginning of 2022.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13967', 'image' => '20211031013006_Hotel.jpg', 'article_date' => '2021-10-31 13:29:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14221', 'article_category_id' => '1', 'title' => 'Foreign Exchange Derivative Market of Nepal still in Developing Stage: NRB', 'sub_title' => '', 'summary' => 'October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank.', '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"">October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank. The report reviewed the current practices of the foreign exchange-based derivative market in Nepal on the issues like liquidity, market participation, legal provisions and sectoral knowledge. </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 study points out the need for a separate law to govern foreign exchange derivative market. The survey was conducted amongst commercial banks, development banks, and non-financial firms. It has found that the derivative instruments used in Nepal are limited to forward and swaps, with non-deliverable forwards dominating the volume of trade.</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"">All commercial banks in Nepal are involved in the forwards market while half of the banks are involved in swaps. According to the study, none of the national level development banks use any derivative instruments. Development banks manage foreign exchange risk through asset liability matching. </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"">Commercial banks have conducted such transactions of Rs 228.94 billion in 2020. The report states that such transactions increased relatively in 2020. In 2018 and 2019, such transactions amounted to Rs 228.71 and 143.12 billion respectively.</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"">Similarly, only 12% of non-financial firms have used derivative products and 37 % of firms have stated that there is no foreign exchange risk in their daily transactions which has discouraged the use of derivative products. </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 report states foreign exchange derivatives markets of India, Bangladesh, Pakistan and Sri Lanka are more organized than other countries in South Asia. According to the report, standardization of derivative instruments in the OTC market along with adding market participants will further support the development of the market. The report states that in order to facilitate the current over-the-counter (OTC) market and attract foreign direct investment, forwards, swaps and alternatives need to be promoted in the long run.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report has highlighted the need of an organized exchange market with sufficient legal provisions. The participants of the survey have suggested to open up the two-way quotes, easy access to the derivative products based on the prospective exposure, opening investment opportunity to the Foreign Institutional Investors and addressing peg risk concerns with Nepali currency. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13966', 'image' => '20211031125947_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-31 12:58:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14220', 'article_category_id' => '1', 'title' => 'Prices of Iron Rods and Cement Go Up', 'sub_title' => '', 'summary' => 'October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up.', '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"">October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up. The infrastructure development in Nepal starts after the Dashain, Tihar, and Chhath festivals. The prices of construction materials and cement have risen with the onset of the construction season and rising prices of coal in the international market.</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 price of an iron rod has gone up by Rs 6 to 10 while the price of cement is expected to rise by 20 percent. Ravi Singh, president of the Federation of Contractors Association of Nepal, said that the price hike of iron-based construction materials would hit the country at the start of the construction season. He said that the government's policy on the import of sponge iron and billet was estimated to reduce the price of iron ore but it has gone reverse resulting in a price hike.</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 Singh, the market price of rods made from sponge iron and prime billet were Rs 79 and Rs 83 respectively before the Replacement Bill was announced. But now, the cost price of iron rods is anything between Rs 102 to Rs 106, he added.</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"">Singh said that the price has been hiked due to carteling at a time when the rolling mills have almost stopped production.</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 added that large cement industries have not shown any interest in reducing prices despite tough competition among themselves. </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"">Meanwhile, the President of Nepal Cement Producers Association Dhurba Thapa confirmed that the price of cement has also gone up by 20 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thapa said that the price of coal has also gone up in Nepal due to the price hike in the international market and the price of cement has also gone up in India. Thapa said that all the cement industries are likely to increase the prices within a month even though some industries have already hiked the prices. "There is a fear that the price of coal in the world market will go up and there will be a shortage of coal," 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"">Similarly, Chairman of Saurabh Group Bishnu Prasad Neupane also said that the price of coal has gone up in the international market.</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"">Industries that produce iron rods by producing billets within the country have increased the price by Rs 6 while industries producing rods by importing the billets have hiked the price by Rs 10. The industries have to pay Rs 34 per kg for importing coal compared to Rs 15 in the past, so the price of cement has gone up, informed Neupane. </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"">Earlier, the price of the rod was Rs 84, but it has now gone up by Rs 6 to 10. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13965', 'image' => '20211031124624_1635637400.jpg', 'article_date' => '2021-10-31 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14219', 'article_category_id' => '1', 'title' => 'Hiking and Cycling Trails Upgraded in Chandragiri Municipality to Promote Tourism', 'sub_title' => '', 'summary' => 'October 31: Chandragiri Municipality has opened a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. ', '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"">October 31: Chandragiri Municipality has upgraded a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. </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 municipality, in collaboration with Nepal Tourism Board (NTB) and the United Nations Development Project (UNDP), has upgraded a hiking and cycling trail in the foothills of Chandragiri hill at Chandragiri-6 under Sustainable Tourism for Livelihood Recovery Project (STLRP). </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"">Mani Lamichhane, director of NTB, informed that STLRP is an initiative of the tourism board to provide a short-term livelihood opportunity to tourism professionals affected by the Covid-19 pandemic. </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"">Due to the catastrophic impact of the pandemic, many individuals involved in tourism have been struggling for their livelihood. So, NTB, analyzing the grim situation of the people involved in tourism, started a pilot project – STLRP. </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"">“NTB is thankful to the UNDP for funds. UNDP was bound to allocate the grant to Vietnam. However, the multinational institute was impressed with the result of our pilot project and later offered the funding to us,” Lamichhane added. </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"">Currently, NTB has collaborated with the Trekking Agencies Association of Nepal (TAAN) to recruit tourism profession under the STLRP for short-term employment. </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 program aims to provide short-term work to around 3000 tourism professionals for 10-40 working days. </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"">NTB, UNDP, and Chandragiri municipality have invested Rs 3.2 million to upgrade the hiking and cycling trail under STLRP. </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 Lamichhane, the STLRP has a budget of USD 1 million each from UNDP and NTB. </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 local government of Chandragiri Municipality also has made its contribution to upgrading the trails. </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"">Speaking at an event organized jointly by Chandragiri Municipality and NTB at Matatirtha premises on October 29 to introduce the trial to tourism journalists, Ghanshyam Giri, Mayor of Chandragiri Municipality, said that the trail upgraded under the SLTRP helps the municipality to attract tourists and create employment for the locals. </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"">Chandragiri falls among the 100 destinations selected by the for tourism promotion and infrastructure development. </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"">Giri added that the municipality is grateful to NTB for initiating the STLRP for developing tourism infrastructure. He further said that his team is committed to promoting and developing tourism from their level. </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 SLTRP project has made a small but crucial contribution to tourism professionals like Abhishek BK, who have been rendered jobless for the past two years and are struggling to feed their families. </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"">BK is a trekking guide from Solukhumbu and is currently residing in Lalitpur. He and 32 others involved in the tourism sector, including Everest submitters, have been employed at the hiking and cycling trail, starting from Matatirtha. </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"">NTB and TAAN have provided BK with ten days of work at the rate of Rs 1000 per day.</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 upgrading work initiated on September 12, 2021, is scheduled to be completed by November 2. </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 Matatirtha hiking trail is about 2 km, and the cycling trail is 5 km in length. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13964', 'image' => '20211031113441_IMG-20211030-WA0000.jpg', 'article_date' => '2021-10-31 11:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14218', 'article_category_id' => '1', 'title' => '‘Now is the Time to Develop the Culture of Entrepreneurship’ ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Mahabir Pun</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">President, National Innovation Center </span></span></strong> </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 concept of startup is relatively new in Nepal. It has not been long since the concept was developed. Startup and entrepreneurship are necessary to develop the economy of the country. However, entrepreneurship has not developed in the country as there is a lack of entrepreneurship culture. Nepal needs to develop a culture of entrepreneurship, but there has never been such a thing in Nepal in history. Except for a few percent of the population, that culture does not exist. Nevertheless, we have now slowly realised the need of startup and entrepreneurship. It is a good thing that it has started but we are late. This kind of environment should have started in our grandfathers’ time. But, it’s better late than never. </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"">Startup is an attempt to start an enterprise. But the government has not understood such a thing yet. In order to develop entrepreneurship, the government representatives need to study about startups and entrepreneurship. Those who lead the society without the entrepreneurial culture do not understand startup business. Further, they cannot bring a corresponding policy and implement it as well. So it is time that they study this issue now. </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"">We often blame the government but the fault lies with the society because we could not establish the entrepreneurship culture. Society should now understand that and promote such culture. Till date, Nepali parents do not support their children to become entrepreneurs. When parents and society do not support innovation, the idea of young people to become entrepreneurs is suppressed and they are forced to work for others. Even the universities in the country do not have a system to support ideas of such innovative students. Since there is no entrepreneurship culture, there is a lack of employment opportunities which eventually leads youths of the country to go abroad. And we need to know that startup entrepreneurs create more employment opportunities and hold the youths in the country. </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 National Innovation Center is made to address such issues. We support new ideas and help them create their ideas and innovation into reality. If you have ideas and wish to become an entrepreneur, we will help raise the capital, search investors, and help provide tools, mentorship and space to implement that idea and get intellectual property right. The only thing you should do is work hard. </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"">Until we do so, the country's talents cannot develop. Eventually, the country will move towards development. Youths are the fundamentals for the development of the country so we have to encourage them and prevent them seek greener pastures abroad.</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 another thing that I do not find in the entrepreneurs and businesses of the country. Before starting a startup, there is no culture of doing research on that idea and studying whether the idea is commercially viable or not. </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"">This is an experiment. Instead of not doing anything, we have to try once even if it fails or becomes a success. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em><span style="font-family:"Calibri","sans-serif"">(Views expressed during an interactive training of NewBiz Startup Summit and Awards 2021)</span></em></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13963', 'image' => '20211031111446_1A1A3568.JPG', 'article_date' => '2021-10-31 11:14:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14217', 'article_category_id' => '1', 'title' => 'Country Experiences Cold Weather as Winter Sets In', 'sub_title' => 'Jumla's Temperature Recorded 2 Degrees Celsius ', 'summary' => 'October 31: The country has witnessed chilly days as the winter sets in. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 31: The country has witnessed chilly days as the winter sets in. The minimum temperature of the Kathmandu Valley has dipped to 10.6 degrees Celsius on Saturday which was 12.1 degrees a day before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, temperature of the country including Kathmandu Valley has started declining up to 1-2 degrees Celsius every day on an average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Shanti Kandel shared mercury level will continue to plummet. Winter begins with the influence of westerly wind in Nepal's atmosphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, temperature in the afternoon has also started dropping by two to three degrees Celsius for the fast few days, the department further shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, the weather of hill and mountainous regions is partly cloudy while rest of the country is generally clear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Meteorological Forecasting Division, there is possibility of light snowfall at one or two places of high-hilly and mountainous areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the latest details of the Division, the minimum temperature of Kathmandu Valley on Saturday was recorded at 10.6 degrees Celsius and maximum temperature was 25.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Jumla recorded the lowest temperature measuring 2.0 degrees Celsius while Janakpur had the highest temperature of 31 degrees. </span></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13962', 'image' => '20211031081931_20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-10-31 08:18:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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He announced his resignation ahead of the vote of confidence. </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"">Acharya was appointed executive head of Province 1 on August 26 following the resignation of his predecessor Sher Dhan Rai. </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"">After the resignation of Chief Minister Acharya, Province 1 Chief Somnath Adhikari has set a deadline until 1:00 pm Tuesday to submit claims for the post of new chief minister. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The opposition alliance is preparing to make CPN (Unified Socialist) parliamentary party leader Rajendra Rai the new chief minister.</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 </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">coalition of opposition parties in Province 1 have collected signatures of 49 Provincial Assembly (PA) members to elect the next Chief Minister. </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 minimum of 47 signatures are enough to elect a new chief minister in the 92-member Provincial Assembly of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Chief Minister of Karnali Province, Mahendra Bahadur Shahi, has also tendered his resignation as per an understanding reached with Nepali Congress to hand over the leadership to NC leader Jeevan Bahadur Shahi. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">While taking vote of confidence on April 16, 2021the outgoing chief minister Mahendra had reached an understanding with Nepali Congress to hand over power after six months. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13976', 'image' => '20211102115151_Province_No._1.jpg', 'article_date' => '2021-11-02 11:51:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14230', 'article_category_id' => '1', 'title' => 'Optical Fibre Expansion Taking Place at Snail's Pace', 'sub_title' => '', 'summary' => 'November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had initiated the project in 2016 with a goal of expanding the optical fibre network within two years, but only 46.53 per cent of work has been completed till October 17, the state-owned national news agency RSS reported citing the project officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the NTA has mobilized the Rural Telecommunications Development Fund to expand the broadband internet service across the country. The NTA had decided to utilize the fund on June 13, 2016 to make the broadband internet service accessible in community schools, campuses, health posts, agriculture centres, tourism centres, all the wards and public places. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA further said that the Mid-hill Highway and district headquarters are being connected to internet facility under the information superhighway project. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had given the responsibility to install fibre along 6,235 kilometres of the Mid-Hill Highway to three separate companies dividing the project into three packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Under the first package, works have been launched in Province 1, Province 2 and Bagmati Province by forging agreement with Nepal Telecom. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As per the agreement, the NT has to install fibre along 2,083 kilometres in three provinces but it has laid the fibre only along 1,013 kilometres in five years. In August, the overall progress was 46.16 percent with the completion of laying the fibre along 1,006-km length. The progress over the next one and a half months was the extension of the fibre in just 7 kilometers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NTA had signed an agreement with Nepal Telecom on September 28, 2012, in order to lay the fibre from eastern Nepal to Gorkha within two years under the first package. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, installation of optical fibre in 21 districts of Gandaki and Lumbini provinces under the second package has not started yet. The expansion work has been halted after a case was filed at the Supreme Court against the project, RSS stated. </span></span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13975', 'image' => '20211102081709_20210831104852_20210221040652_20191021115126_adsfjjj.jpg', 'article_date' => '2021-11-02 08:16:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14229', 'article_category_id' => '1', 'title' => 'US Expresses Concern Over Delay in Ratifying MCC Compact', 'sub_title' => '', 'summary' => 'November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Issuing a statement, the MCC head office located in Washington DC on October 28, the day the president prorogued the parliament session, expressed its disappointment over the delay in ratifying the grant agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">It states that the delay in ratifying the MCC has risked reliable access to provide energy and safe road access to more than 23 million Nepalis. The political leaders of the current coalition government have said they have taken note of the steps needed to approve the compact.</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 statement also mentions the recent commitments and support from the government of Nepal which have paved the way for the agreement to move forward.</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 government and the MCC signed a USD 500 million grant agreement in 2017 for the expansion of Nepal's energy infrastructure and construction of road infrastructure. However, due to differences among the political parties over the MCC compact, uncertainty lies if the MCC will be ratified. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13974', 'image' => '20211101122216_MCC.jpg', 'article_date' => '2021-11-01 12:21:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14228', 'article_category_id' => '1', 'title' => 'Nepal-India Friendly Bus Service Resumes ', 'sub_title' => '', 'summary' => 'November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepalgunj-based Bheri Transport Pvt Ltd has been operating the Nepal-India passenger friendly transport service from Nepalgunj to India’s capital New Delhi, as well as Uttar Pradesh state’s capital Lucknow, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Bheri Transport Pvt Ltd Rajendra Giri said the Nepal-India passenger friendly bus service has been resumed from Sunday (October 31) with the permission for cross-border vehicular operation following the reduced risk of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shutdown of bus services had incurred a big financial loss to the bus entrepreneurs. The resumption of bus service has eased the problems of Nepali passengers traveling to and from Indian cities, including Delhi, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Giri, a passenger bus from Nepalgunj to Delhi leaves at 5.00 pm while Nepalgunj-bound bus from Delhi departs at 5.00 pm. The buses for Deharadun and Haridwar leave at 8.00 pm from Nepalgunj, Giri informed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13973', 'image' => '20211101120429_20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2021-11-01 12:03:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14226', 'article_category_id' => '1', 'title' => 'Middle Bhotekoshi Hydropower Project Making Encouraging Progress', 'sub_title' => '', 'summary' => 'November 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.', '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 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.</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 the project officials, the construction of the project is 75 percent complete. The target is to complete the construction by 2079 BS (mid-January 2023). The Chilime Hydropower Company with majority shares of Nepal Electricity Authority is undertaking the construction of the project in Sindhupalchowk. The capacity of the project is 102 MW. </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 target is to complete the construction of the main structure of the project including the dam, sand dredging pond before the onset of the rainy season. The NEA has stated that the construction of the powerhouse building will be completed within the next five months, and the remaining 415 meters of the 7.2 km tunnel will be completed within three months.</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 Jure landslide in July 2015, catastrophic earthquake in April 2015, obstruction of Nepal-India border for about five and a half months from September 2015, floods in Bhotekoshi river in June 2016, floods in Bhotekoshi river and surrounding areas in June last year, and Covid-19 pandemic had affected the construction work of the project.</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 completion of the project was affected due to natural calamities and poor performance of the Chinese company Kwangsi Hydro and Electrical Construction, which had bagged the contract for civil and hydro mechanical works.</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 Chinese company was awarded the contract in the engineering, procurement, and construction (EPC) model of civil and hydromechanical work to prevent the cost of the project from increasing. Andritz Group is undertaking the electro-mechanical work. Andritz Group has already brought the equipment to the project site.</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"">Last year's flooding of the Bhotekoshi River inundated the store house of the project and damaged the equipment. The estimated cost of the project was Rs 12.28 billion excluding interest during the construction period when the loan agreement was signed with the Employees Provident Fund. The revised estimated cost of the project is Rs 15.32 billion excluding interest for the construction period. Out of the total initial cost of the project under construction, 50 percent has been raised from capital investment and 50 percent from loans.</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"">Of the 51 percent founding shareholders of the company's issued capital, NEA owns 10 percent. Similarly, Chilime Hydropower Company Limited owns 37 percent, Sindhupalchok Hydropower 1 percent, Nepal Araniko Hydropower 1 percent, Sindhu Investment Company 1 percent, and Sindhu Bhotekoshi Hydropower 1 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"">The general public owns 49 percent of the shares. The employees of the Employees' Provident Fund have 19.5 percent shares, the employees of the founding organization 3.5 percent, the employees of the lending organization 1 percent, the locals of Sindhupalchowk district 10 percent, and the general public 15 percent. The company has recently sold shares to the public through the issuance of IPO.</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 project will generate 542.2 million units of electricity annually. NEA will purchase the project's electricity at Rs 8.40 per unit and Rs 4.80 per unit in the winter and rainy seasons, respectively. The company is expected to earn Rs 2.90 billion annually by selling electricity to NEA.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13972', 'image' => '20211101112917_jcl Adit-ersion Tunnel).jpg', 'article_date' => '2021-11-01 11:27:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14227', 'article_category_id' => '1', 'title' => 'Government Begins Process to Appoint Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. ', '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 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. The government has begun the recruitment procedure after the dismissal of Bhisma Raj Dhungana as the chief of SEBON.</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 Ministry of Finance began the procedures to appoint the chairman SEBON by publishing a notice on Thursday (October 28). On the other hand, the process to appoint the CEO of NEPSE is also underway.</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 government had decided to dismiss Dhungana after the shocking revelation of his alleged involvement in the insider trading scandal in the purchase of the shares of Sarbottam Cement. Meanwhile, the CEO position of NEPSE has been vacant since Chandra Singh Saud resigned from his post to facilitate investigation into a similar accusation.</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"">Interested Nepali citizens can apply for the post of Chairman of SEBON within the fifteen days i.e., November 11, 2021 at the Financial Sector Management and Corporation Coordination Division of the Ministry of Finance, Singha Durbar by submitting the sealed application.</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 Nepali citizen with at least seven years of professional experience in the field of securities market management, capital market development, economic, financial and commerce management or legal field can apply for the post. The notice also states that the applicant should not have been disqualified as per Section 11 of the Securities Act, 2063 BS and should not have reached the age of 60 years after completing a tenure of three years.</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 Ministry of Finance has already formed a selection committee for shortlisting the candidates for the post. The committee will recommend the names of at least three applicants. The Council of Ministers will appoint the chairman of the Board from among the recommended names.</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"">In the same manner, the government has also sought applications for the position of the CEO of NEPSE by issuing a public notice. Interested candidates have been asked to submit sealed application for the post within fifteen days. The process of appointing the CEO of NEPSE has been moved forward through open competition.</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 aspiring candidates for the post of CEO need to submit their qualification documents as well as a business action plan. The applicant must have completed 30 years of age and should not have exceeded the age of 60 years. Alongside the application, the application fee of Rs 3,000 should be paid within the deadline of November 13.</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"">In case of no legal or general hurdles, it is likely that both the regulatory bodies will complete the appointment process within December and the tenure of the officials would start from the same month as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13971', 'image' => '20211101114418_20161018015610_sebon.jpg', 'article_date' => '2021-11-01 11:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14224', 'article_category_id' => '1', 'title' => 'Experts Stress on Environment-Friendly Development in Cities ', 'sub_title' => '', 'summary' => 'November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas. Nepal is marking this day since 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Member of the National Planning Commission Dr Pushpa Raman Wagle stated that the cities should focus on well-managed and environment-friendly development, adding that population of Nepal’s 293 municipalities has reached over 62 per cent of the country’s total population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle said that the Kathmandu Valley should develop ideas for converting the waste into something valuable since the city was spending millions of rupees for waste management every year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC’s former Vice Chairman Dr Jagadish Chandra Pokharel said that the stakeholders should pay much attention for the development of urban areas and the announcement of municipality should not be merely for the purpose of tax collection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Chairman of High Powered Committee for Integrated Development of the Bagmati Civilization Uddhab Prasad Timalsena said that the river civilization of the cities should be given the first priority while working for the development of urban areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretaries at the Ministry of Urban Development Bishnu Prasad Sharma, Padhma Kumar Mainali and others also expressed their views at the event. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13970', 'image' => '20211101083101_20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-11-01 08:30:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14225', 'article_category_id' => '1', 'title' => 'Government Preparing to Run Defunct State-owned Factories: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the municipal conference of YCL Nepal in Hetauda on Sunday (October 31), Minister Sharma said that the government is planning to run Hetauda Textile Industry, Gorakhkali Tyre Industry and other industries to create employment for thousands of youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Giving details regarding the subsidy and allowance given by the government to the injured, marginalized population and other vulnerable communities, Minister Sharma stated that the government would give the sense of its pro-people gesture to the citizens. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13969', 'image' => '20211101083326_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-01 08:32:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14223', 'article_category_id' => '1', 'title' => 'Government is Committed to Encourage Foreign Investment: PM Deuba ', 'sub_title' => '', 'summary' => 'November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em>Prime Minister Sher Bahadur Deuba in London. Photo Courtesy: Nepalese People Coordination Committee</em> </span></span><br /> <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM made such remark while addressing a programme organised in his honour by the Britain-based Nepalese People Coordination Committee on Saturday. PM Deuba reiterated that the government would support in encouraging foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that the issue of granting Nepali citizenship to the non-resident Nepalis is related to the Constitution of Nepal, and it would not be possible at the moment. Pointing out the possibility of the Nepalis who have acquired British citizenship of becoming MPs in the UK, the PM appreciated the non-resident Nepalis for continuously extending cooperation to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the committee Yubaraj Gurung on the occasion briefed the prime minister on the activities of the committee and also drew his attention to the problems and challenges faced by the non-resident Nepalis in the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba arrived in London on Friday night, leading the Nepalese delegation to the World Leaders' Summit in the 26th Conference of Parties to the United Nations Framework Convention on Climate Change (COP26). The COP26 is taking place in Glasgow city of Scotland, the UK from November 1 to November 12. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13968', 'image' => '20211101082342_250753954_1041288010059977_2838144353796542526_n.jpg', 'article_date' => '2021-11-01 08:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14222', 'article_category_id' => '1', 'title' => 'Hotels Demand New Staff as Covid-19 Infection Declines', 'sub_title' => '', 'summary' => 'October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. ', '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"">October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. Mostly, hotels outside the Kathmandu Valley have started demanding staff.</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 hotel sector, which has been working with a minimum number of employees, is now demanding new employees.</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"">Hotels like Hyatt Regency and Radisson Hotel in Kathmandu have announced vacancies.</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"">Hyatt Regency Kathmandu has demanded employees ranging from event service managers to Indian chefs. The deserted hotels of Thamel have also demanded staff. Likewise, the three-star Marshyangdi Hotel in Thamel, Kathmandu has also opened an advertisement seeking new employees. Hotel Crown Imperial as well as Yak & Yeti Hotel in Kathmandu have also demanded employees.</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"">Similarly, Siddhartha Hospitality Group has demanded staff. Hotel Siddhartha has demanded staff for Nepalgunj.</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"">People who have not been able to travel for a long time have started going out for sightseeing and now domestic tourism is getting the tourism industry back on track. Due to this, hotels in Pokhara, Chitwan, and the Terai region are demanding staff. </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"">Dream International Hotel in Butwal has published an advertisement demanding a large number of employees.</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 hotel has demanded 65 employees. The resorts of Dhulikhel, a destination near the valley, have also opened advertisement demanding staff.</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"">Hoteliers say new hotels are demanding staff due to increase in tourism activities. Covid-19 infections are on the decline, and tourism is improving due to on-arrival visas. Domestic tourism activities have also increased. That is why employees have been demanded, said Binayak Shah, senior vice-president of the Hotel Association of Nepal (HAN).</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 a study would be conducted after the festive season regarding the number of employees and workers returning to hotels after the lockdown. Hotels that have reopened their services with only 5 to 10 percent employees during the lockdown have started hiring employees again. Shah says that the business has increased due to the increase in the number of tourists.</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 information about tourists visiting Nepal has been obtained through the old network and agencies, Shah said that now there is competition in world tourism. "Other countries also need tourists," 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"">He said that the main concern now is how to protect the tourists coming to Nepal from Covid-19. He said that the current marketing strategy will be different.</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"">Tourism entrepreneurs say that they will prepare packages and other programs after the festivals targeting domestic tourists. Tourism professionals hope that the current situation will gradually improve from the beginning of 2022.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13967', 'image' => '20211031013006_Hotel.jpg', 'article_date' => '2021-10-31 13:29:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14221', 'article_category_id' => '1', 'title' => 'Foreign Exchange Derivative Market of Nepal still in Developing Stage: NRB', 'sub_title' => '', 'summary' => 'October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank.', '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"">October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank. The report reviewed the current practices of the foreign exchange-based derivative market in Nepal on the issues like liquidity, market participation, legal provisions and sectoral knowledge. </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 study points out the need for a separate law to govern foreign exchange derivative market. The survey was conducted amongst commercial banks, development banks, and non-financial firms. It has found that the derivative instruments used in Nepal are limited to forward and swaps, with non-deliverable forwards dominating the volume of trade.</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"">All commercial banks in Nepal are involved in the forwards market while half of the banks are involved in swaps. According to the study, none of the national level development banks use any derivative instruments. Development banks manage foreign exchange risk through asset liability matching. </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"">Commercial banks have conducted such transactions of Rs 228.94 billion in 2020. The report states that such transactions increased relatively in 2020. In 2018 and 2019, such transactions amounted to Rs 228.71 and 143.12 billion respectively.</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"">Similarly, only 12% of non-financial firms have used derivative products and 37 % of firms have stated that there is no foreign exchange risk in their daily transactions which has discouraged the use of derivative products. </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 report states foreign exchange derivatives markets of India, Bangladesh, Pakistan and Sri Lanka are more organized than other countries in South Asia. According to the report, standardization of derivative instruments in the OTC market along with adding market participants will further support the development of the market. The report states that in order to facilitate the current over-the-counter (OTC) market and attract foreign direct investment, forwards, swaps and alternatives need to be promoted in the long run.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report has highlighted the need of an organized exchange market with sufficient legal provisions. The participants of the survey have suggested to open up the two-way quotes, easy access to the derivative products based on the prospective exposure, opening investment opportunity to the Foreign Institutional Investors and addressing peg risk concerns with Nepali currency. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13966', 'image' => '20211031125947_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-31 12:58:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14220', 'article_category_id' => '1', 'title' => 'Prices of Iron Rods and Cement Go Up', 'sub_title' => '', 'summary' => 'October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up.', '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"">October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up. The infrastructure development in Nepal starts after the Dashain, Tihar, and Chhath festivals. The prices of construction materials and cement have risen with the onset of the construction season and rising prices of coal in the international market.</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 price of an iron rod has gone up by Rs 6 to 10 while the price of cement is expected to rise by 20 percent. Ravi Singh, president of the Federation of Contractors Association of Nepal, said that the price hike of iron-based construction materials would hit the country at the start of the construction season. He said that the government's policy on the import of sponge iron and billet was estimated to reduce the price of iron ore but it has gone reverse resulting in a price hike.</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 Singh, the market price of rods made from sponge iron and prime billet were Rs 79 and Rs 83 respectively before the Replacement Bill was announced. But now, the cost price of iron rods is anything between Rs 102 to Rs 106, he added.</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"">Singh said that the price has been hiked due to carteling at a time when the rolling mills have almost stopped production.</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 added that large cement industries have not shown any interest in reducing prices despite tough competition among themselves. </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"">Meanwhile, the President of Nepal Cement Producers Association Dhurba Thapa confirmed that the price of cement has also gone up by 20 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thapa said that the price of coal has also gone up in Nepal due to the price hike in the international market and the price of cement has also gone up in India. Thapa said that all the cement industries are likely to increase the prices within a month even though some industries have already hiked the prices. "There is a fear that the price of coal in the world market will go up and there will be a shortage of coal," 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"">Similarly, Chairman of Saurabh Group Bishnu Prasad Neupane also said that the price of coal has gone up in the international market.</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"">Industries that produce iron rods by producing billets within the country have increased the price by Rs 6 while industries producing rods by importing the billets have hiked the price by Rs 10. The industries have to pay Rs 34 per kg for importing coal compared to Rs 15 in the past, so the price of cement has gone up, informed Neupane. </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"">Earlier, the price of the rod was Rs 84, but it has now gone up by Rs 6 to 10. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13965', 'image' => '20211031124624_1635637400.jpg', 'article_date' => '2021-10-31 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14219', 'article_category_id' => '1', 'title' => 'Hiking and Cycling Trails Upgraded in Chandragiri Municipality to Promote Tourism', 'sub_title' => '', 'summary' => 'October 31: Chandragiri Municipality has opened a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. ', '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"">October 31: Chandragiri Municipality has upgraded a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. </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 municipality, in collaboration with Nepal Tourism Board (NTB) and the United Nations Development Project (UNDP), has upgraded a hiking and cycling trail in the foothills of Chandragiri hill at Chandragiri-6 under Sustainable Tourism for Livelihood Recovery Project (STLRP). </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"">Mani Lamichhane, director of NTB, informed that STLRP is an initiative of the tourism board to provide a short-term livelihood opportunity to tourism professionals affected by the Covid-19 pandemic. </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"">Due to the catastrophic impact of the pandemic, many individuals involved in tourism have been struggling for their livelihood. So, NTB, analyzing the grim situation of the people involved in tourism, started a pilot project – STLRP. </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"">“NTB is thankful to the UNDP for funds. UNDP was bound to allocate the grant to Vietnam. However, the multinational institute was impressed with the result of our pilot project and later offered the funding to us,” Lamichhane added. </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"">Currently, NTB has collaborated with the Trekking Agencies Association of Nepal (TAAN) to recruit tourism profession under the STLRP for short-term employment. </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 program aims to provide short-term work to around 3000 tourism professionals for 10-40 working days. </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"">NTB, UNDP, and Chandragiri municipality have invested Rs 3.2 million to upgrade the hiking and cycling trail under STLRP. </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 Lamichhane, the STLRP has a budget of USD 1 million each from UNDP and NTB. </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 local government of Chandragiri Municipality also has made its contribution to upgrading the trails. </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"">Speaking at an event organized jointly by Chandragiri Municipality and NTB at Matatirtha premises on October 29 to introduce the trial to tourism journalists, Ghanshyam Giri, Mayor of Chandragiri Municipality, said that the trail upgraded under the SLTRP helps the municipality to attract tourists and create employment for the locals. </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"">Chandragiri falls among the 100 destinations selected by the for tourism promotion and infrastructure development. </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"">Giri added that the municipality is grateful to NTB for initiating the STLRP for developing tourism infrastructure. He further said that his team is committed to promoting and developing tourism from their level. </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 SLTRP project has made a small but crucial contribution to tourism professionals like Abhishek BK, who have been rendered jobless for the past two years and are struggling to feed their families. </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"">BK is a trekking guide from Solukhumbu and is currently residing in Lalitpur. He and 32 others involved in the tourism sector, including Everest submitters, have been employed at the hiking and cycling trail, starting from Matatirtha. </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"">NTB and TAAN have provided BK with ten days of work at the rate of Rs 1000 per day.</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 upgrading work initiated on September 12, 2021, is scheduled to be completed by November 2. </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 Matatirtha hiking trail is about 2 km, and the cycling trail is 5 km in length. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13964', 'image' => '20211031113441_IMG-20211030-WA0000.jpg', 'article_date' => '2021-10-31 11:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14218', 'article_category_id' => '1', 'title' => '‘Now is the Time to Develop the Culture of Entrepreneurship’ ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Mahabir Pun</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">President, National Innovation Center </span></span></strong> </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 concept of startup is relatively new in Nepal. It has not been long since the concept was developed. Startup and entrepreneurship are necessary to develop the economy of the country. However, entrepreneurship has not developed in the country as there is a lack of entrepreneurship culture. Nepal needs to develop a culture of entrepreneurship, but there has never been such a thing in Nepal in history. Except for a few percent of the population, that culture does not exist. Nevertheless, we have now slowly realised the need of startup and entrepreneurship. It is a good thing that it has started but we are late. This kind of environment should have started in our grandfathers’ time. But, it’s better late than never. </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"">Startup is an attempt to start an enterprise. But the government has not understood such a thing yet. In order to develop entrepreneurship, the government representatives need to study about startups and entrepreneurship. Those who lead the society without the entrepreneurial culture do not understand startup business. Further, they cannot bring a corresponding policy and implement it as well. So it is time that they study this issue now. </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"">We often blame the government but the fault lies with the society because we could not establish the entrepreneurship culture. Society should now understand that and promote such culture. Till date, Nepali parents do not support their children to become entrepreneurs. When parents and society do not support innovation, the idea of young people to become entrepreneurs is suppressed and they are forced to work for others. Even the universities in the country do not have a system to support ideas of such innovative students. Since there is no entrepreneurship culture, there is a lack of employment opportunities which eventually leads youths of the country to go abroad. And we need to know that startup entrepreneurs create more employment opportunities and hold the youths in the country. </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 National Innovation Center is made to address such issues. We support new ideas and help them create their ideas and innovation into reality. If you have ideas and wish to become an entrepreneur, we will help raise the capital, search investors, and help provide tools, mentorship and space to implement that idea and get intellectual property right. The only thing you should do is work hard. </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"">Until we do so, the country's talents cannot develop. Eventually, the country will move towards development. Youths are the fundamentals for the development of the country so we have to encourage them and prevent them seek greener pastures abroad.</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 another thing that I do not find in the entrepreneurs and businesses of the country. Before starting a startup, there is no culture of doing research on that idea and studying whether the idea is commercially viable or not. </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"">This is an experiment. Instead of not doing anything, we have to try once even if it fails or becomes a success. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em><span style="font-family:"Calibri","sans-serif"">(Views expressed during an interactive training of NewBiz Startup Summit and Awards 2021)</span></em></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13963', 'image' => '20211031111446_1A1A3568.JPG', 'article_date' => '2021-10-31 11:14:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14217', 'article_category_id' => '1', 'title' => 'Country Experiences Cold Weather as Winter Sets In', 'sub_title' => 'Jumla's Temperature Recorded 2 Degrees Celsius ', 'summary' => 'October 31: The country has witnessed chilly days as the winter sets in. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 31: The country has witnessed chilly days as the winter sets in. The minimum temperature of the Kathmandu Valley has dipped to 10.6 degrees Celsius on Saturday which was 12.1 degrees a day before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, temperature of the country including Kathmandu Valley has started declining up to 1-2 degrees Celsius every day on an average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Shanti Kandel shared mercury level will continue to plummet. Winter begins with the influence of westerly wind in Nepal's atmosphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, temperature in the afternoon has also started dropping by two to three degrees Celsius for the fast few days, the department further shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, the weather of hill and mountainous regions is partly cloudy while rest of the country is generally clear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Meteorological Forecasting Division, there is possibility of light snowfall at one or two places of high-hilly and mountainous areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the latest details of the Division, the minimum temperature of Kathmandu Valley on Saturday was recorded at 10.6 degrees Celsius and maximum temperature was 25.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Jumla recorded the lowest temperature measuring 2.0 degrees Celsius while Janakpur had the highest temperature of 31 degrees. </span></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13962', 'image' => '20211031081931_20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-10-31 08:18:48', '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' => '14232', 'article_category_id' => '1', 'title' => 'Bhim Acharya Steps Down as Chief Minister of Province 1', 'sub_title' => '', 'summary' => 'November 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in office.', '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 2: Chief Minister of Province 1 Bhim Acharya resigned from his post on Monday, November 1, after 68 days in office.</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"">Addressing the Provincial Assembly meeting on Monday, Chief Minister Acharya announced his resignation. He announced his resignation ahead of the vote of confidence. </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"">Acharya was appointed executive head of Province 1 on August 26 following the resignation of his predecessor Sher Dhan Rai. </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"">After the resignation of Chief Minister Acharya, Province 1 Chief Somnath Adhikari has set a deadline until 1:00 pm Tuesday to submit claims for the post of new chief minister. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The opposition alliance is preparing to make CPN (Unified Socialist) parliamentary party leader Rajendra Rai the new chief minister.</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 </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">coalition of opposition parties in Province 1 have collected signatures of 49 Provincial Assembly (PA) members to elect the next Chief Minister. </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 minimum of 47 signatures are enough to elect a new chief minister in the 92-member Provincial Assembly of Province 1.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, Chief Minister of Karnali Province, Mahendra Bahadur Shahi, has also tendered his resignation as per an understanding reached with Nepali Congress to hand over the leadership to NC leader Jeevan Bahadur Shahi. </span></span><br /> <span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">While taking vote of confidence on April 16, 2021the outgoing chief minister Mahendra had reached an understanding with Nepali Congress to hand over power after six months. </span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13976', 'image' => '20211102115151_Province_No._1.jpg', 'article_date' => '2021-11-02 11:51:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14230', 'article_category_id' => '1', 'title' => 'Optical Fibre Expansion Taking Place at Snail's Pace', 'sub_title' => '', 'summary' => 'November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">November 2: Nepal Telecommunications Authority (NTA) has installed optical fibre along 1,013 kilometres across the country under the Optical Fiber Backbone Network Expansion Project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had initiated the project in 2016 with a goal of expanding the optical fibre network within two years, but only 46.53 per cent of work has been completed till October 17, the state-owned national news agency RSS reported citing the project officials.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">According to RSS, the NTA has mobilized the Rural Telecommunications Development Fund to expand the broadband internet service across the country. The NTA had decided to utilize the fund on June 13, 2016 to make the broadband internet service accessible in community schools, campuses, health posts, agriculture centres, tourism centres, all the wards and public places. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA further said that the Mid-hill Highway and district headquarters are being connected to internet facility under the information superhighway project. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">The NTA had given the responsibility to install fibre along 6,235 kilometres of the Mid-Hill Highway to three separate companies dividing the project into three packages. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Under the first package, works have been launched in Province 1, Province 2 and Bagmati Province by forging agreement with Nepal Telecom. </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">As per the agreement, the NT has to install fibre along 2,083 kilometres in three provinces but it has laid the fibre only along 1,013 kilometres in five years. In August, the overall progress was 46.16 percent with the completion of laying the fibre along 1,006-km length. The progress over the next one and a half months was the extension of the fibre in just 7 kilometers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">NTA had signed an agreement with Nepal Telecom on September 28, 2012, in order to lay the fibre from eastern Nepal to Gorkha within two years under the first package. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, installation of optical fibre in 21 districts of Gandaki and Lumbini provinces under the second package has not started yet. The expansion work has been halted after a case was filed at the Supreme Court against the project, RSS stated. </span></span></span></span></p> <p> </p> <p><br /> </p> ', 'published' => true, 'created' => '2021-11-02', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13975', 'image' => '20211102081709_20210831104852_20210221040652_20191021115126_adsfjjj.jpg', 'article_date' => '2021-11-02 08:16:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14229', 'article_category_id' => '1', 'title' => 'US Expresses Concern Over Delay in Ratifying MCC Compact', 'sub_title' => '', 'summary' => 'November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">November 1: The United States has expressed disappointment over the government’s decision to recommend the president to prorogue the current session of Parliament without ratifying the long-stalled Millennium Challenge Corporation (MCC) agreement.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Issuing a statement, the MCC head office located in Washington DC on October 28, the day the president prorogued the parliament session, expressed its disappointment over the delay in ratifying the grant agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">It states that the delay in ratifying the MCC has risked reliable access to provide energy and safe road access to more than 23 million Nepalis. The political leaders of the current coalition government have said they have taken note of the steps needed to approve the compact.</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 statement also mentions the recent commitments and support from the government of Nepal which have paved the way for the agreement to move forward.</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 government and the MCC signed a USD 500 million grant agreement in 2017 for the expansion of Nepal's energy infrastructure and construction of road infrastructure. However, due to differences among the political parties over the MCC compact, uncertainty lies if the MCC will be ratified. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13974', 'image' => '20211101122216_MCC.jpg', 'article_date' => '2021-11-01 12:21:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14228', 'article_category_id' => '1', 'title' => 'Nepal-India Friendly Bus Service Resumes ', 'sub_title' => '', 'summary' => 'November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: The Nepal-India friendly bus service that had been affected due to the COVID-19 pandemic has resumed after two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepalgunj-based Bheri Transport Pvt Ltd has been operating the Nepal-India passenger friendly transport service from Nepalgunj to India’s capital New Delhi, as well as Uttar Pradesh state’s capital Lucknow, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chairperson of Bheri Transport Pvt Ltd Rajendra Giri said the Nepal-India passenger friendly bus service has been resumed from Sunday (October 31) with the permission for cross-border vehicular operation following the reduced risk of coronavirus. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The shutdown of bus services had incurred a big financial loss to the bus entrepreneurs. The resumption of bus service has eased the problems of Nepali passengers traveling to and from Indian cities, including Delhi, Dehradun and Haridwar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Giri, a passenger bus from Nepalgunj to Delhi leaves at 5.00 pm while Nepalgunj-bound bus from Delhi departs at 5.00 pm. The buses for Deharadun and Haridwar leave at 8.00 pm from Nepalgunj, Giri informed. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13973', 'image' => '20211101120429_20201206110215_Flag-Pins-India-Nepal.jpg', 'article_date' => '2021-11-01 12:03:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14226', 'article_category_id' => '1', 'title' => 'Middle Bhotekoshi Hydropower Project Making Encouraging Progress', 'sub_title' => '', 'summary' => 'November 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.', '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 1: The construction of the Middle Bhotekoshi Hydropower Project, which had been affected by various natural calamities, blockade, poor performance of the contractor company, and the Covid-19 pandemic, has finally started progressing at a fast pace.</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 the project officials, the construction of the project is 75 percent complete. The target is to complete the construction by 2079 BS (mid-January 2023). The Chilime Hydropower Company with majority shares of Nepal Electricity Authority is undertaking the construction of the project in Sindhupalchowk. The capacity of the project is 102 MW. </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 target is to complete the construction of the main structure of the project including the dam, sand dredging pond before the onset of the rainy season. The NEA has stated that the construction of the powerhouse building will be completed within the next five months, and the remaining 415 meters of the 7.2 km tunnel will be completed within three months.</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 Jure landslide in July 2015, catastrophic earthquake in April 2015, obstruction of Nepal-India border for about five and a half months from September 2015, floods in Bhotekoshi river in June 2016, floods in Bhotekoshi river and surrounding areas in June last year, and Covid-19 pandemic had affected the construction work of the project.</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 completion of the project was affected due to natural calamities and poor performance of the Chinese company Kwangsi Hydro and Electrical Construction, which had bagged the contract for civil and hydro mechanical works.</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 Chinese company was awarded the contract in the engineering, procurement, and construction (EPC) model of civil and hydromechanical work to prevent the cost of the project from increasing. Andritz Group is undertaking the electro-mechanical work. Andritz Group has already brought the equipment to the project site.</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"">Last year's flooding of the Bhotekoshi River inundated the store house of the project and damaged the equipment. The estimated cost of the project was Rs 12.28 billion excluding interest during the construction period when the loan agreement was signed with the Employees Provident Fund. The revised estimated cost of the project is Rs 15.32 billion excluding interest for the construction period. Out of the total initial cost of the project under construction, 50 percent has been raised from capital investment and 50 percent from loans.</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"">Of the 51 percent founding shareholders of the company's issued capital, NEA owns 10 percent. Similarly, Chilime Hydropower Company Limited owns 37 percent, Sindhupalchok Hydropower 1 percent, Nepal Araniko Hydropower 1 percent, Sindhu Investment Company 1 percent, and Sindhu Bhotekoshi Hydropower 1 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"">The general public owns 49 percent of the shares. The employees of the Employees' Provident Fund have 19.5 percent shares, the employees of the founding organization 3.5 percent, the employees of the lending organization 1 percent, the locals of Sindhupalchowk district 10 percent, and the general public 15 percent. The company has recently sold shares to the public through the issuance of IPO.</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 project will generate 542.2 million units of electricity annually. NEA will purchase the project's electricity at Rs 8.40 per unit and Rs 4.80 per unit in the winter and rainy seasons, respectively. The company is expected to earn Rs 2.90 billion annually by selling electricity to NEA.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13972', 'image' => '20211101112917_jcl Adit-ersion Tunnel).jpg', 'article_date' => '2021-11-01 11:27:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14227', 'article_category_id' => '1', 'title' => 'Government Begins Process to Appoint Chairman of SEBON', 'sub_title' => '', 'summary' => 'November 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. ', '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 1: The government has initiated the process to appoint the chiefs of the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (NEPSE) at the same time. The government has begun the recruitment procedure after the dismissal of Bhisma Raj Dhungana as the chief of SEBON.</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 Ministry of Finance began the procedures to appoint the chairman SEBON by publishing a notice on Thursday (October 28). On the other hand, the process to appoint the CEO of NEPSE is also underway.</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 government had decided to dismiss Dhungana after the shocking revelation of his alleged involvement in the insider trading scandal in the purchase of the shares of Sarbottam Cement. Meanwhile, the CEO position of NEPSE has been vacant since Chandra Singh Saud resigned from his post to facilitate investigation into a similar accusation.</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"">Interested Nepali citizens can apply for the post of Chairman of SEBON within the fifteen days i.e., November 11, 2021 at the Financial Sector Management and Corporation Coordination Division of the Ministry of Finance, Singha Durbar by submitting the sealed application.</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 Nepali citizen with at least seven years of professional experience in the field of securities market management, capital market development, economic, financial and commerce management or legal field can apply for the post. The notice also states that the applicant should not have been disqualified as per Section 11 of the Securities Act, 2063 BS and should not have reached the age of 60 years after completing a tenure of three years.</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 Ministry of Finance has already formed a selection committee for shortlisting the candidates for the post. The committee will recommend the names of at least three applicants. The Council of Ministers will appoint the chairman of the Board from among the recommended names.</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"">In the same manner, the government has also sought applications for the position of the CEO of NEPSE by issuing a public notice. Interested candidates have been asked to submit sealed application for the post within fifteen days. The process of appointing the CEO of NEPSE has been moved forward through open competition.</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 aspiring candidates for the post of CEO need to submit their qualification documents as well as a business action plan. The applicant must have completed 30 years of age and should not have exceeded the age of 60 years. Alongside the application, the application fee of Rs 3,000 should be paid within the deadline of November 13.</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"">In case of no legal or general hurdles, it is likely that both the regulatory bodies will complete the appointment process within December and the tenure of the officials would start from the same month as well.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13971', 'image' => '20211101114418_20161018015610_sebon.jpg', 'article_date' => '2021-11-01 11:43:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14224', 'article_category_id' => '1', 'title' => 'Experts Stress on Environment-Friendly Development in Cities ', 'sub_title' => '', 'summary' => 'November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Speakers at a programme organised on the occasion of World Cities Day on Sunday laid emphasis on environment-friendly development in urban areas. Nepal is marking this day since 2019. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Member of the National Planning Commission Dr Pushpa Raman Wagle stated that the cities should focus on well-managed and environment-friendly development, adding that population of Nepal’s 293 municipalities has reached over 62 per cent of the country’s total population. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Dr Wagle said that the Kathmandu Valley should develop ideas for converting the waste into something valuable since the city was spending millions of rupees for waste management every year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NPC’s former Vice Chairman Dr Jagadish Chandra Pokharel said that the stakeholders should pay much attention for the development of urban areas and the announcement of municipality should not be merely for the purpose of tax collection. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Chairman of High Powered Committee for Integrated Development of the Bagmati Civilization Uddhab Prasad Timalsena said that the river civilization of the cities should be given the first priority while working for the development of urban areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Joint Secretaries at the Ministry of Urban Development Bishnu Prasad Sharma, Padhma Kumar Mainali and others also expressed their views at the event. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13970', 'image' => '20211101083101_20210427102436_20200903113103_1599056781.jpg', 'article_date' => '2021-11-01 08:30:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14225', 'article_category_id' => '1', 'title' => 'Government Preparing to Run Defunct State-owned Factories: Finance Minister', 'sub_title' => '', 'summary' => 'November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Finance Minister Janardan Sharma has said that the government is considering to resume the state-owned factories that have been shut down in order to create employment opportunities for the youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Addressing the municipal conference of YCL Nepal in Hetauda on Sunday (October 31), Minister Sharma said that the government is planning to run Hetauda Textile Industry, Gorakhkali Tyre Industry and other industries to create employment for thousands of youths. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Giving details regarding the subsidy and allowance given by the government to the injured, marginalized population and other vulnerable communities, Minister Sharma stated that the government would give the sense of its pro-people gesture to the citizens. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-02', 'keywords' => '', 'description' => '', 'sortorder' => '13969', 'image' => '20211101083326_20210716022924_1626392414.Clipboard14.jpg', 'article_date' => '2021-11-01 08:32:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14223', 'article_category_id' => '1', 'title' => 'Government is Committed to Encourage Foreign Investment: PM Deuba ', 'sub_title' => '', 'summary' => 'November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em>Prime Minister Sher Bahadur Deuba in London. Photo Courtesy: Nepalese People Coordination Committee</em> </span></span><br /> <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 1: Prime Minister Sher Bahadur Deuba reiterated the government's commitment to guarantee security to the foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The PM made such remark while addressing a programme organised in his honour by the Britain-based Nepalese People Coordination Committee on Saturday. PM Deuba reiterated that the government would support in encouraging foreign investors. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He added that the issue of granting Nepali citizenship to the non-resident Nepalis is related to the Constitution of Nepal, and it would not be possible at the moment. Pointing out the possibility of the Nepalis who have acquired British citizenship of becoming MPs in the UK, the PM appreciated the non-resident Nepalis for continuously extending cooperation to Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President of the committee Yubaraj Gurung on the occasion briefed the prime minister on the activities of the committee and also drew his attention to the problems and challenges faced by the non-resident Nepalis in the UK. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">PM Deuba arrived in London on Friday night, leading the Nepalese delegation to the World Leaders' Summit in the 26th Conference of Parties to the United Nations Framework Convention on Climate Change (COP26). The COP26 is taking place in Glasgow city of Scotland, the UK from November 1 to November 12. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2021-11-01', 'modified' => '2021-11-01', 'keywords' => '', 'description' => '', 'sortorder' => '13968', 'image' => '20211101082342_250753954_1041288010059977_2838144353796542526_n.jpg', 'article_date' => '2021-11-01 08:22:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14222', 'article_category_id' => '1', 'title' => 'Hotels Demand New Staff as Covid-19 Infection Declines', 'sub_title' => '', 'summary' => 'October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. ', '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"">October 31: As the cases of Covid-19 have been declining across the country and the tourism sector is showing signs of slight improvement, hotels and resorts in the country have started announcing vacancies for staff. Mostly, hotels outside the Kathmandu Valley have started demanding staff.</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 hotel sector, which has been working with a minimum number of employees, is now demanding new employees.</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"">Hotels like Hyatt Regency and Radisson Hotel in Kathmandu have announced vacancies.</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"">Hyatt Regency Kathmandu has demanded employees ranging from event service managers to Indian chefs. The deserted hotels of Thamel have also demanded staff. Likewise, the three-star Marshyangdi Hotel in Thamel, Kathmandu has also opened an advertisement seeking new employees. Hotel Crown Imperial as well as Yak & Yeti Hotel in Kathmandu have also demanded employees.</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"">Similarly, Siddhartha Hospitality Group has demanded staff. Hotel Siddhartha has demanded staff for Nepalgunj.</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"">People who have not been able to travel for a long time have started going out for sightseeing and now domestic tourism is getting the tourism industry back on track. Due to this, hotels in Pokhara, Chitwan, and the Terai region are demanding staff. </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"">Dream International Hotel in Butwal has published an advertisement demanding a large number of employees.</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 hotel has demanded 65 employees. The resorts of Dhulikhel, a destination near the valley, have also opened advertisement demanding staff.</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"">Hoteliers say new hotels are demanding staff due to increase in tourism activities. Covid-19 infections are on the decline, and tourism is improving due to on-arrival visas. Domestic tourism activities have also increased. That is why employees have been demanded, said Binayak Shah, senior vice-president of the Hotel Association of Nepal (HAN).</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 a study would be conducted after the festive season regarding the number of employees and workers returning to hotels after the lockdown. Hotels that have reopened their services with only 5 to 10 percent employees during the lockdown have started hiring employees again. Shah says that the business has increased due to the increase in the number of tourists.</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 information about tourists visiting Nepal has been obtained through the old network and agencies, Shah said that now there is competition in world tourism. "Other countries also need tourists," 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"">He said that the main concern now is how to protect the tourists coming to Nepal from Covid-19. He said that the current marketing strategy will be different.</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"">Tourism entrepreneurs say that they will prepare packages and other programs after the festivals targeting domestic tourists. Tourism professionals hope that the current situation will gradually improve from the beginning of 2022.</span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13967', 'image' => '20211031013006_Hotel.jpg', 'article_date' => '2021-10-31 13:29:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14221', 'article_category_id' => '1', 'title' => 'Foreign Exchange Derivative Market of Nepal still in Developing Stage: NRB', 'sub_title' => '', 'summary' => 'October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank.', '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"">October 31: The foreign exchange derivative market in Nepal is still in the developing stage, according to a study conducted by the Nepal Rastra Bank. The report reviewed the current practices of the foreign exchange-based derivative market in Nepal on the issues like liquidity, market participation, legal provisions and sectoral knowledge. </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 study points out the need for a separate law to govern foreign exchange derivative market. The survey was conducted amongst commercial banks, development banks, and non-financial firms. It has found that the derivative instruments used in Nepal are limited to forward and swaps, with non-deliverable forwards dominating the volume of trade.</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"">All commercial banks in Nepal are involved in the forwards market while half of the banks are involved in swaps. According to the study, none of the national level development banks use any derivative instruments. Development banks manage foreign exchange risk through asset liability matching. </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"">Commercial banks have conducted such transactions of Rs 228.94 billion in 2020. The report states that such transactions increased relatively in 2020. In 2018 and 2019, such transactions amounted to Rs 228.71 and 143.12 billion respectively.</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"">Similarly, only 12% of non-financial firms have used derivative products and 37 % of firms have stated that there is no foreign exchange risk in their daily transactions which has discouraged the use of derivative products. </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 report states foreign exchange derivatives markets of India, Bangladesh, Pakistan and Sri Lanka are more organized than other countries in South Asia. According to the report, standardization of derivative instruments in the OTC market along with adding market participants will further support the development of the market. The report states that in order to facilitate the current over-the-counter (OTC) market and attract foreign direct investment, forwards, swaps and alternatives need to be promoted in the long run.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The report has highlighted the need of an organized exchange market with sufficient legal provisions. The participants of the survey have suggested to open up the two-way quotes, easy access to the derivative products based on the prospective exposure, opening investment opportunity to the Foreign Institutional Investors and addressing peg risk concerns with Nepali currency. </span></span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13966', 'image' => '20211031125947_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2021-10-31 12:58:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14220', 'article_category_id' => '1', 'title' => 'Prices of Iron Rods and Cement Go Up', 'sub_title' => '', 'summary' => 'October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up.', '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"">October 31: With the construction season about to begin, the prices of construction materials, especially iron rods and cement have gone up. The infrastructure development in Nepal starts after the Dashain, Tihar, and Chhath festivals. The prices of construction materials and cement have risen with the onset of the construction season and rising prices of coal in the international market.</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 price of an iron rod has gone up by Rs 6 to 10 while the price of cement is expected to rise by 20 percent. Ravi Singh, president of the Federation of Contractors Association of Nepal, said that the price hike of iron-based construction materials would hit the country at the start of the construction season. He said that the government's policy on the import of sponge iron and billet was estimated to reduce the price of iron ore but it has gone reverse resulting in a price hike.</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 Singh, the market price of rods made from sponge iron and prime billet were Rs 79 and Rs 83 respectively before the Replacement Bill was announced. But now, the cost price of iron rods is anything between Rs 102 to Rs 106, he added.</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"">Singh said that the price has been hiked due to carteling at a time when the rolling mills have almost stopped production.</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 added that large cement industries have not shown any interest in reducing prices despite tough competition among themselves. </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"">Meanwhile, the President of Nepal Cement Producers Association Dhurba Thapa confirmed that the price of cement has also gone up by 20 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Thapa said that the price of coal has also gone up in Nepal due to the price hike in the international market and the price of cement has also gone up in India. Thapa said that all the cement industries are likely to increase the prices within a month even though some industries have already hiked the prices. "There is a fear that the price of coal in the world market will go up and there will be a shortage of coal," 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"">Similarly, Chairman of Saurabh Group Bishnu Prasad Neupane also said that the price of coal has gone up in the international market.</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"">Industries that produce iron rods by producing billets within the country have increased the price by Rs 6 while industries producing rods by importing the billets have hiked the price by Rs 10. The industries have to pay Rs 34 per kg for importing coal compared to Rs 15 in the past, so the price of cement has gone up, informed Neupane. </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"">Earlier, the price of the rod was Rs 84, but it has now gone up by Rs 6 to 10. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13965', 'image' => '20211031124624_1635637400.jpg', 'article_date' => '2021-10-31 12:45:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14219', 'article_category_id' => '1', 'title' => 'Hiking and Cycling Trails Upgraded in Chandragiri Municipality to Promote Tourism', 'sub_title' => '', 'summary' => 'October 31: Chandragiri Municipality has opened a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. ', '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"">October 31: Chandragiri Municipality has upgraded a hiking and cycling trail to attract domestic and foreign adventure enthusiasts. </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 municipality, in collaboration with Nepal Tourism Board (NTB) and the United Nations Development Project (UNDP), has upgraded a hiking and cycling trail in the foothills of Chandragiri hill at Chandragiri-6 under Sustainable Tourism for Livelihood Recovery Project (STLRP). </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"">Mani Lamichhane, director of NTB, informed that STLRP is an initiative of the tourism board to provide a short-term livelihood opportunity to tourism professionals affected by the Covid-19 pandemic. </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"">Due to the catastrophic impact of the pandemic, many individuals involved in tourism have been struggling for their livelihood. So, NTB, analyzing the grim situation of the people involved in tourism, started a pilot project – STLRP. </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"">“NTB is thankful to the UNDP for funds. UNDP was bound to allocate the grant to Vietnam. However, the multinational institute was impressed with the result of our pilot project and later offered the funding to us,” Lamichhane added. </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"">Currently, NTB has collaborated with the Trekking Agencies Association of Nepal (TAAN) to recruit tourism profession under the STLRP for short-term employment. </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 program aims to provide short-term work to around 3000 tourism professionals for 10-40 working days. </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"">NTB, UNDP, and Chandragiri municipality have invested Rs 3.2 million to upgrade the hiking and cycling trail under STLRP. </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 Lamichhane, the STLRP has a budget of USD 1 million each from UNDP and NTB. </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 local government of Chandragiri Municipality also has made its contribution to upgrading the trails. </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"">Speaking at an event organized jointly by Chandragiri Municipality and NTB at Matatirtha premises on October 29 to introduce the trial to tourism journalists, Ghanshyam Giri, Mayor of Chandragiri Municipality, said that the trail upgraded under the SLTRP helps the municipality to attract tourists and create employment for the locals. </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"">Chandragiri falls among the 100 destinations selected by the for tourism promotion and infrastructure development. </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"">Giri added that the municipality is grateful to NTB for initiating the STLRP for developing tourism infrastructure. He further said that his team is committed to promoting and developing tourism from their level. </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 SLTRP project has made a small but crucial contribution to tourism professionals like Abhishek BK, who have been rendered jobless for the past two years and are struggling to feed their families. </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"">BK is a trekking guide from Solukhumbu and is currently residing in Lalitpur. He and 32 others involved in the tourism sector, including Everest submitters, have been employed at the hiking and cycling trail, starting from Matatirtha. </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"">NTB and TAAN have provided BK with ten days of work at the rate of Rs 1000 per day.</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 upgrading work initiated on September 12, 2021, is scheduled to be completed by November 2. </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 Matatirtha hiking trail is about 2 km, and the cycling trail is 5 km in length. </span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13964', 'image' => '20211031113441_IMG-20211030-WA0000.jpg', 'article_date' => '2021-10-31 11:34:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14218', 'article_category_id' => '1', 'title' => '‘Now is the Time to Develop the Culture of Entrepreneurship’ ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Mahabir Pun</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">President, National Innovation Center </span></span></strong> </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 concept of startup is relatively new in Nepal. It has not been long since the concept was developed. Startup and entrepreneurship are necessary to develop the economy of the country. However, entrepreneurship has not developed in the country as there is a lack of entrepreneurship culture. Nepal needs to develop a culture of entrepreneurship, but there has never been such a thing in Nepal in history. Except for a few percent of the population, that culture does not exist. Nevertheless, we have now slowly realised the need of startup and entrepreneurship. It is a good thing that it has started but we are late. This kind of environment should have started in our grandfathers’ time. But, it’s better late than never. </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"">Startup is an attempt to start an enterprise. But the government has not understood such a thing yet. In order to develop entrepreneurship, the government representatives need to study about startups and entrepreneurship. Those who lead the society without the entrepreneurial culture do not understand startup business. Further, they cannot bring a corresponding policy and implement it as well. So it is time that they study this issue now. </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"">We often blame the government but the fault lies with the society because we could not establish the entrepreneurship culture. Society should now understand that and promote such culture. Till date, Nepali parents do not support their children to become entrepreneurs. When parents and society do not support innovation, the idea of young people to become entrepreneurs is suppressed and they are forced to work for others. Even the universities in the country do not have a system to support ideas of such innovative students. Since there is no entrepreneurship culture, there is a lack of employment opportunities which eventually leads youths of the country to go abroad. And we need to know that startup entrepreneurs create more employment opportunities and hold the youths in the country. </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 National Innovation Center is made to address such issues. We support new ideas and help them create their ideas and innovation into reality. If you have ideas and wish to become an entrepreneur, we will help raise the capital, search investors, and help provide tools, mentorship and space to implement that idea and get intellectual property right. The only thing you should do is work hard. </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"">Until we do so, the country's talents cannot develop. Eventually, the country will move towards development. Youths are the fundamentals for the development of the country so we have to encourage them and prevent them seek greener pastures abroad.</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 another thing that I do not find in the entrepreneurs and businesses of the country. Before starting a startup, there is no culture of doing research on that idea and studying whether the idea is commercially viable or not. </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"">This is an experiment. Instead of not doing anything, we have to try once even if it fails or becomes a success. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><em><span style="font-family:"Calibri","sans-serif"">(Views expressed during an interactive training of NewBiz Startup Summit and Awards 2021)</span></em></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13963', 'image' => '20211031111446_1A1A3568.JPG', 'article_date' => '2021-10-31 11:14:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14217', 'article_category_id' => '1', 'title' => 'Country Experiences Cold Weather as Winter Sets In', 'sub_title' => 'Jumla's Temperature Recorded 2 Degrees Celsius ', 'summary' => 'October 31: The country has witnessed chilly days as the winter sets in. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">October 31: The country has witnessed chilly days as the winter sets in. The minimum temperature of the Kathmandu Valley has dipped to 10.6 degrees Celsius on Saturday which was 12.1 degrees a day before. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Hydrology and Meteorology, temperature of the country including Kathmandu Valley has started declining up to 1-2 degrees Celsius every day on an average. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Shanti Kandel shared mercury level will continue to plummet. Winter begins with the influence of westerly wind in Nepal's atmosphere. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, temperature in the afternoon has also started dropping by two to three degrees Celsius for the fast few days, the department further shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, the weather of hill and mountainous regions is partly cloudy while rest of the country is generally clear. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Department of Meteorological Forecasting Division, there is possibility of light snowfall at one or two places of high-hilly and mountainous areas. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As per the latest details of the Division, the minimum temperature of Kathmandu Valley on Saturday was recorded at 10.6 degrees Celsius and maximum temperature was 25.5 degrees Celsius. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Jumla recorded the lowest temperature measuring 2.0 degrees Celsius while Janakpur had the highest temperature of 31 degrees. </span></span></span></p> ', 'published' => true, 'created' => '2021-10-31', 'modified' => '2021-10-31', 'keywords' => '', 'description' => '', 'sortorder' => '13962', 'image' => '20211031081931_20210203122659_20181230033201_2222.jpg', 'article_date' => '2021-10-31 08:18:48', '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
