Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in…
Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in…
KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final…
KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this…
CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing…
The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week,…
KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant…
KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become…
KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading…
KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to…
The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali…
KATHMANDU: The government is set to promote and facilitate investment in startup enterprises.…
Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year…
KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on…
Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year…
KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5…
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The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 20: Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank provided uniforms as part of its corporate social responsibility, according to a press release issued by the bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Bank employees, school teachers, officials, and students were present at the uniform handover program. The bank believes that this program will encourage students to pursue their education.</span></span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20758', 'image' => '20240520083154_collage (4).jpg', 'article_date' => '2024-05-20 08:30:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21030', 'article_category_id' => '1', 'title' => '‘BRI Implementation Plan in Final Stage’', 'sub_title' => '', 'summary' => 'KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a seminar organized by the Embassy of China in Kathmandu on Sunday, the Deputy Prime Minister said, "Nepal is ready to sign it at a mutually convenient time. I am confident that the implementation of this plan will bring visible results on the ground." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The seminar on "Review of the Friendship since the Establishment of Diplomatic Relations between Nepal and China, and Moving Forward Together for a Better Future" witnessed the participation from all major political parties, scholars and professionals as well as the chiefs and representatives from the friendship organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Deputy Prime Minister Shrestha also shared that Nepal has decided to join the Group of Friends of Global Development Initiatives (GDI), which was put forward by Chinese President Xi Jinping and formed at the United Nations to engage further in common development endeavours, including the fight against climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Shrestha added that Nepal-China ties is built on commonalities of culture, and geography, as well as people-to-people relations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Over the years, we have built strong relations based on mutual respect, trust, goodwill, and understanding. Our relations are founded solidly on the bedrock of the Five Principles of Peaceful Coexistence called Panchsheel, age-old legacy of friendship, close and good neighbourliness, mutual cooperation and understanding, appreciation of each other’s sensitivities, and trusted partnership," said Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Deputy Prime Minister said Nepal and China have discussed some key issues including enhancing support for socio-economic development and prosperity of Nepal, agriculture, connectivity, infrastructure, trade and investment, education, technology and innovation, sustainable development, and people-to-people relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also shared that discussions were held with the Chinese side on matters relating to the opening of 14 traditional border trading points between Nepal and China, swift implementation of the ongoing development projects in Nepal, and further activating the established bilateral mechanisms. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is committed to widening and deepening its cooperation with China in vital sectors such as connectivity, infrastructure development, agriculture, trade, tourism, investment, ICT, and people-to-people relations, among others, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chinese Ambassador to Nepal Chen Song shared that the two countries have respected each other's interests and developed confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Chen made commitment to China's support to Nepal's development endeavors. -- RSS </span></span></span><br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20757', 'image' => '20240520061520_20231001020729_20230714012959_20221227011524_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-05-20 06:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21029', 'article_category_id' => '1', 'title' => 'Will There Be No Shortage of Chemical Fertilizer this Year?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. ', 'content' => '<p>KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. </p> <p>It may be noted that farmers of Nepal facing extreme shortage of chemical fertilizers every year during the main planting season has become a perennial problem.</p> <p>According to government authorities, they often fail to import fertilizer on time due to lack of adequate budget for fertilizer procurement, failure of procurement process and lack of provision for back-up tenders.</p> <p>With the planting season just around the corner, the promise made by the ministry seems unlikely to materialize as the government does not have sufficient stock of fertilizers and the quantity it intends to import seems to be too less than the requirement.</p> <p>According to the Ministry of Agriculture and Livestock Development, 700,000 metric tons of chemical fertilizers are required per year for a total of 3.391 million hectares of land.</p> <p>Information Officer of the Ministry, Mahananda Joshi, told RSS that the Agriculture Inputs Company Limited has a stock of 52,000 metric tonnes of urea while the Salt Trading Corporation has 26,050 metric tones of urea. Similarly, the Agriculture Inputs Company Limited has 5,434 metric tonnes of DAP in stock and the Salt Trading Company has 4,092 metric tonnes of DAP. Furthermore, the two state-owned companies have a stock of more than 11,800 metric tonnes of potash.</p> <p>The ministry said that both the companies are importing an additional 242,119 metric tonnes of urea and almost 98,000 metric tonnes of DAP. Information Officer Joshi shared that the remaining quantity of fertilizers will be imported within a month. </p> <p>The adverse effect of fertilizer shortage has also started to be seen in Nepal's gross domestic product (GDP) in recent years. During the last decade, the contribution of agriculture sector in GDP decreased from 32.7 percent to 23.9 percent.</p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20756', 'image' => '20240520060139_20240519100436_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-05-20 06:00:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21028', 'article_category_id' => '1', 'title' => 'Water Sources in CNP Drying up due to Drought, Putting Wild Animals in Trouble', 'sub_title' => '', 'summary' => 'CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. ', 'content' => '<p><span style="font-size:18px">CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. </span></p> <p><span style="font-size:18px">CNP Information Officer Ganesh Prasad Tiwari said that the water level in the 134 big and small lakes and ponds inside the park has started to recede fast due to the dry spell, putting the wild animals in trouble.</span></p> <p><span style="font-size:18px">According to him, the water level of the wetland, rivers and streams as well as of the natural water bodies and those of the man-made ponds inside the CNP has drastically decreased compared to the same period of last year.</span></p> <p><span style="font-size:18px">CNP Chief Conservation Officer Dil Bahadur Purja Pun said the water level in the lakes and ponds has fallen since there is no precipitation for a long time. There is high water evaporation from the water bodies due to the scorching heat and there is no rain to replenish it. </span></p> <p><span style="font-size:18px">"It is estimated that the water level has dropped compared to the last few years. This is because there was less rainfall during the winter this year. The wild animals have been directly hit due to this condition," he added.</span></p> <p><span style="font-size:18px">The rare one-horned rhino likes to wallow in the ponds during the summer. Other animals also direly need water. However, the old ponds and wetlands here are not managed accordingly for that purpose. </span></p> <p><span style="font-size:18px">The CNP Office has stated that they are facing problems in carrying out cleaning up and management works of water sources like removing the debris due to the lack of funds. </span></p> <p><span style="font-size:18px">"In the fiscal year 2075/76 BS, Rs 14.5 million was earmarked for managing the water sources inside the park. We had carried out work related to managing 60 ponds that year. That fund has reduced to just Rs 2.5 million this fiscal year 2080/81, which means it is not adequate to carry out cleaning and other management works," the Conservation Officer said.</span></p> <p><span style="font-size:18px">According to him, only seven ponds have been managed from the available funds this year. This means there is increased risk of human-wildlife conflict this year as the wild animals are likely to stray into human settlements. -- RSS</span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20755', 'image' => '20240520060000_20240519092413_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-05-20 05:59:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21024', 'article_category_id' => '1', 'title' => ' NEPSE Surges 45.69 Points, Life Insurance Sector Leads Gains', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 19: The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 323 scrips were traded on NEPSE through 74,991 transactions. A total of 12,240,802 shares changed hands, resulting in a total turnover of Rs 5.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with transactions worth Rs 14 crores. Sabaiko Laghubitta Bittiya Sanstha (SABSL) and Aatmanirbhar Laghubitta Bittiay Sanstha Limited (ANLB) each saw a 10% gain and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Mandu Hydropower Limited (MANDU) faced the maximum loss of 9.9%, closing at a market price of Rs 869.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in positive territory. The Life Insurance sector witnessed the highest gain of 4.38%, while the Trading Index saw the least gain at 0.55%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20751', 'image' => '20240519044620_collage.jpg', 'article_date' => '2024-05-19 16:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21023', 'article_category_id' => '1', 'title' => 'Increase in Arrival of Tourists Boosts Profits for Nepal's Hotels and Tourism Companies', 'sub_title' => '', 'summary' => 'KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of six companies in the hotel and tourism sector listed in the secondary market of securities, five have increased their profits by the third quarter of the current fiscal year. Among them, two companies have nearly achieved a 40 percent increase in profit. Despite one company still facing losses, it has managed to reduce its deficit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the unaudited financial statements for the first nine months of the current fiscal year, Taragaon Regency Hotels increased its net profit by 39.54%, Chandragiri Hills by 38.82%, Soaltee Hotel by 11.08%, Oriental Hotels by 9.91%, and Kalinchok Darshan by 6.92%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By the third quarter, Taragaon Regency Hotels earned a net profit of over Rs 333.2 million, compared to more than Rs 238.8 million during the same period last year. The company attributes its improved profit to a higher occupancy rate due to an increase in international tourists entering Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Looking ahead, Taragaon Regency Hotels aims to boost its income by increasing hotel occupancy through state-of-the-art technology and commercial strategic mechanisms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Chandragiri Hills' net profit exceeded Rs 107.9 million, up from Rs 77.7 million in the same period last year. Soaltee Hotel's net profit rose to over Rs 412.3 million, compared to Rs 371.1 million last year. Oriental Hotel's net profit increased slightly to over Rs 605.9 million from Rs 600 million last year. Kalinchok Darshan saw its net profit rise to around Rs 247 million from above Rs 203.1 million last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three of these six companies have consistently distributed dividends to the investors. This year, Taragaon Regency Hotels, Soaltee Hotel, and Oriental Hotels continued this trend, unlike many companies of other sector. Soaltee Hotel distributed 5% bonus shares and 26.57% cash dividend, totaling a 31.58% dividend. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Oriental Hotels, which hadn't distributed dividends since 2018/19, offered a 5.26% cash dividend this year. Taragaon Regency Hotels provided 5% bonus shares and 11% cash dividend, totaling a 15% dividend. Chandragiri Hills, Kalinchok Darshan, and City Hotel, which had issued initial public offerings last year, are gradually moving towards dividend distribution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The rise in income for these tourism sector companies is attributed to the increase in arrival of foreign tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Nepal Tourism Board, 416,069 foreign tourists visited Nepal by April 2024, a 27.42% increase from the same period in 2023. In 2023, over one million foreign tourists entered Nepal, marking the first time since the pandemic that this number was surpassed. The National Statistics Office estimates a 21.84% growth rate in accommodation and food service this year due to improvement in arrival of tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite the overall improvement, City Hotel remains in a loss, though it has reduced its deficit. By the third quarter, City Hotel reported a net loss of over Rs 150.37 million, down from more than Rs 216.1 million in the same period last year. The company had projected a net profit of Rs 9.849 million for the current year before issuing its IPO in May 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Director Tilak Koirala stated that the company is focused on reducing expenses and improving its financial situation. City Hotel has started generating income by renting out spaces for casino operations. The expansion of the banquet hall, which can accommodate 200 people, is near completion, and Koirala expects this to further increase income next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, City Hotel has reached an agreement with Hyatt International South West Asia to upgrade its current Hyatt Place brand to the Hyatt Centric brand, with the target to complete this upgrade by the first quarter of next year. The hotel is also prioritizing infrastructure changes to reflect the cultural heritage of the valley. Despite having a debt of over Rs 3 billion, Koirala is optimistic that the company will provide returns to investors within the next 2 to 3 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20750', 'image' => '20240519032706_Hotel.jpg', 'article_date' => '2024-05-19 15:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21022', 'article_category_id' => '1', 'title' => 'Implementation of Phukot-Karnali Hydropower Project Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Indian company NHPC Limited is reconsidering the agreement to provide a certain percentage of the electricity produced to Nepal for free. Additionally, a petition filed in the Supreme Court against the government’s decision to allow the Indian company to develop the project has cast further doubt on the project's immediate implementation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During Prime Minister Pushpa Kamal Dahal's visit to India in May last year, an agreement was signed to build the project in Kalikot district through a joint venture between Nepal’s Vidyut Utpadan Company Limited and NHPC Limited. According to this agreement, the Indian company would hold a 51 percent share in the joint venture, with the Nepali company holding the remaining share. The agreement also stipulated that 21.9 percent of the energy produced would be available to Nepal free of charge.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Nepali officials reported that around a month ago, the Indian company demanded an amendment to the free electricity provision in the contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bakhat Bahadur Shahi, Chief Executive Officer of the Vidyut Utpadan Company Limited, stated that NHPC has sent a letter requesting a reconsideration of this provision, claiming that the project is not financially feasible with the free electricity clause.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, it is not clear to what extent NHPC seeks flexibility from Nepal regarding the free electricity provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi mentioned that they the issue will be resolve through mutual agreement. "Since a writ has been filed against the agreement, bilateral discussions have not been possible," Shahi explained.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In December, Yashuda Kumari Baral and Ajay Bahadur Shahi from Raskot Municipality-8 of Kalikot filed a petition in the Supreme Court demanding the agreement be canceled, arguing that the 51 percent share given to the Indian company was not in the nation's interest. Baral criticized the decision, stating that projects that could be managed by the Government of Nepal should not be handed to foreign companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The writ lists 10 government offices, including the Office of the Prime Minister and the Council of Ministers, the Ministry of Energy, Water Resources and Irrigation, the Ministry of Finance, the Ministry of Forestry and Environment, the Department of Electricity Development, the Nepal Electricity Authority, the Vidyut Utpadan Company Limited, and the office of the Phukot Karnali Hydropower Project, as opponents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi noted that further discussions between the parties have been stalled due to the Supreme Court case concerning the share distribution to NHPC. The issue will only be resolved after the court's decision, after which formal negotiations on the concerns raised by the Indian company will proceed. "For now, we have informally replied that we should proceed according to the agreement," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">One year after the agreement, the joint venture has still not been registered with the government agency, casting doubt on the project's immediate implementation. Shahi indicated that the Indian company will be registered in the joint venture following the Supreme Court's decision and contract amendments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, Nepal had proposed that China build this project on the Karnali River under China's Belt and Road Initiative (BRI). However, no solid agreement was reached between Nepal and China, leading to the Indian company's involvement. NHPC has also been tasked with constructing the 750 MW West Seti and 450 MW Setinadi-6 projects.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20749', 'image' => '20240519031249_9b8ea9d4.jpeg', 'article_date' => '2024-05-19 15:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '21032', 'article_category_id' => '1', 'title' => 'Muktinath Bikas Bank Distributes School Uniforms', 'sub_title' => '', 'summary' => 'Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 20: Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank provided uniforms as part of its corporate social responsibility, according to a press release issued by the bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Bank employees, school teachers, officials, and students were present at the uniform handover program. The bank believes that this program will encourage students to pursue their education.</span></span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20758', 'image' => '20240520083154_collage (4).jpg', 'article_date' => '2024-05-20 08:30:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21030', 'article_category_id' => '1', 'title' => '‘BRI Implementation Plan in Final Stage’', 'sub_title' => '', 'summary' => 'KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a seminar organized by the Embassy of China in Kathmandu on Sunday, the Deputy Prime Minister said, "Nepal is ready to sign it at a mutually convenient time. I am confident that the implementation of this plan will bring visible results on the ground." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The seminar on "Review of the Friendship since the Establishment of Diplomatic Relations between Nepal and China, and Moving Forward Together for a Better Future" witnessed the participation from all major political parties, scholars and professionals as well as the chiefs and representatives from the friendship organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Deputy Prime Minister Shrestha also shared that Nepal has decided to join the Group of Friends of Global Development Initiatives (GDI), which was put forward by Chinese President Xi Jinping and formed at the United Nations to engage further in common development endeavours, including the fight against climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Shrestha added that Nepal-China ties is built on commonalities of culture, and geography, as well as people-to-people relations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Over the years, we have built strong relations based on mutual respect, trust, goodwill, and understanding. Our relations are founded solidly on the bedrock of the Five Principles of Peaceful Coexistence called Panchsheel, age-old legacy of friendship, close and good neighbourliness, mutual cooperation and understanding, appreciation of each other’s sensitivities, and trusted partnership," said Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Deputy Prime Minister said Nepal and China have discussed some key issues including enhancing support for socio-economic development and prosperity of Nepal, agriculture, connectivity, infrastructure, trade and investment, education, technology and innovation, sustainable development, and people-to-people relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also shared that discussions were held with the Chinese side on matters relating to the opening of 14 traditional border trading points between Nepal and China, swift implementation of the ongoing development projects in Nepal, and further activating the established bilateral mechanisms. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is committed to widening and deepening its cooperation with China in vital sectors such as connectivity, infrastructure development, agriculture, trade, tourism, investment, ICT, and people-to-people relations, among others, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chinese Ambassador to Nepal Chen Song shared that the two countries have respected each other's interests and developed confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Chen made commitment to China's support to Nepal's development endeavors. -- RSS </span></span></span><br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20757', 'image' => '20240520061520_20231001020729_20230714012959_20221227011524_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-05-20 06:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21029', 'article_category_id' => '1', 'title' => 'Will There Be No Shortage of Chemical Fertilizer this Year?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. ', 'content' => '<p>KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. </p> <p>It may be noted that farmers of Nepal facing extreme shortage of chemical fertilizers every year during the main planting season has become a perennial problem.</p> <p>According to government authorities, they often fail to import fertilizer on time due to lack of adequate budget for fertilizer procurement, failure of procurement process and lack of provision for back-up tenders.</p> <p>With the planting season just around the corner, the promise made by the ministry seems unlikely to materialize as the government does not have sufficient stock of fertilizers and the quantity it intends to import seems to be too less than the requirement.</p> <p>According to the Ministry of Agriculture and Livestock Development, 700,000 metric tons of chemical fertilizers are required per year for a total of 3.391 million hectares of land.</p> <p>Information Officer of the Ministry, Mahananda Joshi, told RSS that the Agriculture Inputs Company Limited has a stock of 52,000 metric tonnes of urea while the Salt Trading Corporation has 26,050 metric tones of urea. Similarly, the Agriculture Inputs Company Limited has 5,434 metric tonnes of DAP in stock and the Salt Trading Company has 4,092 metric tonnes of DAP. Furthermore, the two state-owned companies have a stock of more than 11,800 metric tonnes of potash.</p> <p>The ministry said that both the companies are importing an additional 242,119 metric tonnes of urea and almost 98,000 metric tonnes of DAP. Information Officer Joshi shared that the remaining quantity of fertilizers will be imported within a month. </p> <p>The adverse effect of fertilizer shortage has also started to be seen in Nepal's gross domestic product (GDP) in recent years. During the last decade, the contribution of agriculture sector in GDP decreased from 32.7 percent to 23.9 percent.</p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20756', 'image' => '20240520060139_20240519100436_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-05-20 06:00:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21028', 'article_category_id' => '1', 'title' => 'Water Sources in CNP Drying up due to Drought, Putting Wild Animals in Trouble', 'sub_title' => '', 'summary' => 'CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. ', 'content' => '<p><span style="font-size:18px">CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. </span></p> <p><span style="font-size:18px">CNP Information Officer Ganesh Prasad Tiwari said that the water level in the 134 big and small lakes and ponds inside the park has started to recede fast due to the dry spell, putting the wild animals in trouble.</span></p> <p><span style="font-size:18px">According to him, the water level of the wetland, rivers and streams as well as of the natural water bodies and those of the man-made ponds inside the CNP has drastically decreased compared to the same period of last year.</span></p> <p><span style="font-size:18px">CNP Chief Conservation Officer Dil Bahadur Purja Pun said the water level in the lakes and ponds has fallen since there is no precipitation for a long time. There is high water evaporation from the water bodies due to the scorching heat and there is no rain to replenish it. </span></p> <p><span style="font-size:18px">"It is estimated that the water level has dropped compared to the last few years. This is because there was less rainfall during the winter this year. The wild animals have been directly hit due to this condition," he added.</span></p> <p><span style="font-size:18px">The rare one-horned rhino likes to wallow in the ponds during the summer. Other animals also direly need water. However, the old ponds and wetlands here are not managed accordingly for that purpose. </span></p> <p><span style="font-size:18px">The CNP Office has stated that they are facing problems in carrying out cleaning up and management works of water sources like removing the debris due to the lack of funds. </span></p> <p><span style="font-size:18px">"In the fiscal year 2075/76 BS, Rs 14.5 million was earmarked for managing the water sources inside the park. We had carried out work related to managing 60 ponds that year. That fund has reduced to just Rs 2.5 million this fiscal year 2080/81, which means it is not adequate to carry out cleaning and other management works," the Conservation Officer said.</span></p> <p><span style="font-size:18px">According to him, only seven ponds have been managed from the available funds this year. This means there is increased risk of human-wildlife conflict this year as the wild animals are likely to stray into human settlements. -- RSS</span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20755', 'image' => '20240520060000_20240519092413_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-05-20 05:59:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21024', 'article_category_id' => '1', 'title' => ' NEPSE Surges 45.69 Points, Life Insurance Sector Leads Gains', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 19: The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 323 scrips were traded on NEPSE through 74,991 transactions. A total of 12,240,802 shares changed hands, resulting in a total turnover of Rs 5.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with transactions worth Rs 14 crores. Sabaiko Laghubitta Bittiya Sanstha (SABSL) and Aatmanirbhar Laghubitta Bittiay Sanstha Limited (ANLB) each saw a 10% gain and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Mandu Hydropower Limited (MANDU) faced the maximum loss of 9.9%, closing at a market price of Rs 869.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in positive territory. The Life Insurance sector witnessed the highest gain of 4.38%, while the Trading Index saw the least gain at 0.55%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20751', 'image' => '20240519044620_collage.jpg', 'article_date' => '2024-05-19 16:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21023', 'article_category_id' => '1', 'title' => 'Increase in Arrival of Tourists Boosts Profits for Nepal's Hotels and Tourism Companies', 'sub_title' => '', 'summary' => 'KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of six companies in the hotel and tourism sector listed in the secondary market of securities, five have increased their profits by the third quarter of the current fiscal year. Among them, two companies have nearly achieved a 40 percent increase in profit. Despite one company still facing losses, it has managed to reduce its deficit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the unaudited financial statements for the first nine months of the current fiscal year, Taragaon Regency Hotels increased its net profit by 39.54%, Chandragiri Hills by 38.82%, Soaltee Hotel by 11.08%, Oriental Hotels by 9.91%, and Kalinchok Darshan by 6.92%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By the third quarter, Taragaon Regency Hotels earned a net profit of over Rs 333.2 million, compared to more than Rs 238.8 million during the same period last year. The company attributes its improved profit to a higher occupancy rate due to an increase in international tourists entering Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Looking ahead, Taragaon Regency Hotels aims to boost its income by increasing hotel occupancy through state-of-the-art technology and commercial strategic mechanisms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Chandragiri Hills' net profit exceeded Rs 107.9 million, up from Rs 77.7 million in the same period last year. Soaltee Hotel's net profit rose to over Rs 412.3 million, compared to Rs 371.1 million last year. Oriental Hotel's net profit increased slightly to over Rs 605.9 million from Rs 600 million last year. Kalinchok Darshan saw its net profit rise to around Rs 247 million from above Rs 203.1 million last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three of these six companies have consistently distributed dividends to the investors. This year, Taragaon Regency Hotels, Soaltee Hotel, and Oriental Hotels continued this trend, unlike many companies of other sector. Soaltee Hotel distributed 5% bonus shares and 26.57% cash dividend, totaling a 31.58% dividend. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Oriental Hotels, which hadn't distributed dividends since 2018/19, offered a 5.26% cash dividend this year. Taragaon Regency Hotels provided 5% bonus shares and 11% cash dividend, totaling a 15% dividend. Chandragiri Hills, Kalinchok Darshan, and City Hotel, which had issued initial public offerings last year, are gradually moving towards dividend distribution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The rise in income for these tourism sector companies is attributed to the increase in arrival of foreign tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Nepal Tourism Board, 416,069 foreign tourists visited Nepal by April 2024, a 27.42% increase from the same period in 2023. In 2023, over one million foreign tourists entered Nepal, marking the first time since the pandemic that this number was surpassed. The National Statistics Office estimates a 21.84% growth rate in accommodation and food service this year due to improvement in arrival of tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite the overall improvement, City Hotel remains in a loss, though it has reduced its deficit. By the third quarter, City Hotel reported a net loss of over Rs 150.37 million, down from more than Rs 216.1 million in the same period last year. The company had projected a net profit of Rs 9.849 million for the current year before issuing its IPO in May 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Director Tilak Koirala stated that the company is focused on reducing expenses and improving its financial situation. City Hotel has started generating income by renting out spaces for casino operations. The expansion of the banquet hall, which can accommodate 200 people, is near completion, and Koirala expects this to further increase income next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, City Hotel has reached an agreement with Hyatt International South West Asia to upgrade its current Hyatt Place brand to the Hyatt Centric brand, with the target to complete this upgrade by the first quarter of next year. The hotel is also prioritizing infrastructure changes to reflect the cultural heritage of the valley. Despite having a debt of over Rs 3 billion, Koirala is optimistic that the company will provide returns to investors within the next 2 to 3 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20750', 'image' => '20240519032706_Hotel.jpg', 'article_date' => '2024-05-19 15:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21022', 'article_category_id' => '1', 'title' => 'Implementation of Phukot-Karnali Hydropower Project Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Indian company NHPC Limited is reconsidering the agreement to provide a certain percentage of the electricity produced to Nepal for free. Additionally, a petition filed in the Supreme Court against the government’s decision to allow the Indian company to develop the project has cast further doubt on the project's immediate implementation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During Prime Minister Pushpa Kamal Dahal's visit to India in May last year, an agreement was signed to build the project in Kalikot district through a joint venture between Nepal’s Vidyut Utpadan Company Limited and NHPC Limited. According to this agreement, the Indian company would hold a 51 percent share in the joint venture, with the Nepali company holding the remaining share. The agreement also stipulated that 21.9 percent of the energy produced would be available to Nepal free of charge.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Nepali officials reported that around a month ago, the Indian company demanded an amendment to the free electricity provision in the contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bakhat Bahadur Shahi, Chief Executive Officer of the Vidyut Utpadan Company Limited, stated that NHPC has sent a letter requesting a reconsideration of this provision, claiming that the project is not financially feasible with the free electricity clause.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, it is not clear to what extent NHPC seeks flexibility from Nepal regarding the free electricity provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi mentioned that they the issue will be resolve through mutual agreement. "Since a writ has been filed against the agreement, bilateral discussions have not been possible," Shahi explained.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In December, Yashuda Kumari Baral and Ajay Bahadur Shahi from Raskot Municipality-8 of Kalikot filed a petition in the Supreme Court demanding the agreement be canceled, arguing that the 51 percent share given to the Indian company was not in the nation's interest. Baral criticized the decision, stating that projects that could be managed by the Government of Nepal should not be handed to foreign companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The writ lists 10 government offices, including the Office of the Prime Minister and the Council of Ministers, the Ministry of Energy, Water Resources and Irrigation, the Ministry of Finance, the Ministry of Forestry and Environment, the Department of Electricity Development, the Nepal Electricity Authority, the Vidyut Utpadan Company Limited, and the office of the Phukot Karnali Hydropower Project, as opponents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi noted that further discussions between the parties have been stalled due to the Supreme Court case concerning the share distribution to NHPC. The issue will only be resolved after the court's decision, after which formal negotiations on the concerns raised by the Indian company will proceed. "For now, we have informally replied that we should proceed according to the agreement," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">One year after the agreement, the joint venture has still not been registered with the government agency, casting doubt on the project's immediate implementation. Shahi indicated that the Indian company will be registered in the joint venture following the Supreme Court's decision and contract amendments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, Nepal had proposed that China build this project on the Karnali River under China's Belt and Road Initiative (BRI). However, no solid agreement was reached between Nepal and China, leading to the Indian company's involvement. NHPC has also been tasked with constructing the 750 MW West Seti and 450 MW Setinadi-6 projects.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20749', 'image' => '20240519031249_9b8ea9d4.jpeg', 'article_date' => '2024-05-19 15:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21032', 'article_category_id' => '1', 'title' => 'Muktinath Bikas Bank Distributes School Uniforms', 'sub_title' => '', 'summary' => 'Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 20: Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank provided uniforms as part of its corporate social responsibility, according to a press release issued by the bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Bank employees, school teachers, officials, and students were present at the uniform handover program. The bank believes that this program will encourage students to pursue their education.</span></span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20758', 'image' => '20240520083154_collage (4).jpg', 'article_date' => '2024-05-20 08:30:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21030', 'article_category_id' => '1', 'title' => '‘BRI Implementation Plan in Final Stage’', 'sub_title' => '', 'summary' => 'KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a seminar organized by the Embassy of China in Kathmandu on Sunday, the Deputy Prime Minister said, "Nepal is ready to sign it at a mutually convenient time. I am confident that the implementation of this plan will bring visible results on the ground." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The seminar on "Review of the Friendship since the Establishment of Diplomatic Relations between Nepal and China, and Moving Forward Together for a Better Future" witnessed the participation from all major political parties, scholars and professionals as well as the chiefs and representatives from the friendship organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Deputy Prime Minister Shrestha also shared that Nepal has decided to join the Group of Friends of Global Development Initiatives (GDI), which was put forward by Chinese President Xi Jinping and formed at the United Nations to engage further in common development endeavours, including the fight against climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Shrestha added that Nepal-China ties is built on commonalities of culture, and geography, as well as people-to-people relations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Over the years, we have built strong relations based on mutual respect, trust, goodwill, and understanding. Our relations are founded solidly on the bedrock of the Five Principles of Peaceful Coexistence called Panchsheel, age-old legacy of friendship, close and good neighbourliness, mutual cooperation and understanding, appreciation of each other’s sensitivities, and trusted partnership," said Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Deputy Prime Minister said Nepal and China have discussed some key issues including enhancing support for socio-economic development and prosperity of Nepal, agriculture, connectivity, infrastructure, trade and investment, education, technology and innovation, sustainable development, and people-to-people relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also shared that discussions were held with the Chinese side on matters relating to the opening of 14 traditional border trading points between Nepal and China, swift implementation of the ongoing development projects in Nepal, and further activating the established bilateral mechanisms. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is committed to widening and deepening its cooperation with China in vital sectors such as connectivity, infrastructure development, agriculture, trade, tourism, investment, ICT, and people-to-people relations, among others, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chinese Ambassador to Nepal Chen Song shared that the two countries have respected each other's interests and developed confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Chen made commitment to China's support to Nepal's development endeavors. -- RSS </span></span></span><br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20757', 'image' => '20240520061520_20231001020729_20230714012959_20221227011524_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-05-20 06:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21029', 'article_category_id' => '1', 'title' => 'Will There Be No Shortage of Chemical Fertilizer this Year?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. ', 'content' => '<p>KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. </p> <p>It may be noted that farmers of Nepal facing extreme shortage of chemical fertilizers every year during the main planting season has become a perennial problem.</p> <p>According to government authorities, they often fail to import fertilizer on time due to lack of adequate budget for fertilizer procurement, failure of procurement process and lack of provision for back-up tenders.</p> <p>With the planting season just around the corner, the promise made by the ministry seems unlikely to materialize as the government does not have sufficient stock of fertilizers and the quantity it intends to import seems to be too less than the requirement.</p> <p>According to the Ministry of Agriculture and Livestock Development, 700,000 metric tons of chemical fertilizers are required per year for a total of 3.391 million hectares of land.</p> <p>Information Officer of the Ministry, Mahananda Joshi, told RSS that the Agriculture Inputs Company Limited has a stock of 52,000 metric tonnes of urea while the Salt Trading Corporation has 26,050 metric tones of urea. Similarly, the Agriculture Inputs Company Limited has 5,434 metric tonnes of DAP in stock and the Salt Trading Company has 4,092 metric tonnes of DAP. Furthermore, the two state-owned companies have a stock of more than 11,800 metric tonnes of potash.</p> <p>The ministry said that both the companies are importing an additional 242,119 metric tonnes of urea and almost 98,000 metric tonnes of DAP. Information Officer Joshi shared that the remaining quantity of fertilizers will be imported within a month. </p> <p>The adverse effect of fertilizer shortage has also started to be seen in Nepal's gross domestic product (GDP) in recent years. During the last decade, the contribution of agriculture sector in GDP decreased from 32.7 percent to 23.9 percent.</p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20756', 'image' => '20240520060139_20240519100436_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-05-20 06:00:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21028', 'article_category_id' => '1', 'title' => 'Water Sources in CNP Drying up due to Drought, Putting Wild Animals in Trouble', 'sub_title' => '', 'summary' => 'CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. ', 'content' => '<p><span style="font-size:18px">CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. </span></p> <p><span style="font-size:18px">CNP Information Officer Ganesh Prasad Tiwari said that the water level in the 134 big and small lakes and ponds inside the park has started to recede fast due to the dry spell, putting the wild animals in trouble.</span></p> <p><span style="font-size:18px">According to him, the water level of the wetland, rivers and streams as well as of the natural water bodies and those of the man-made ponds inside the CNP has drastically decreased compared to the same period of last year.</span></p> <p><span style="font-size:18px">CNP Chief Conservation Officer Dil Bahadur Purja Pun said the water level in the lakes and ponds has fallen since there is no precipitation for a long time. There is high water evaporation from the water bodies due to the scorching heat and there is no rain to replenish it. </span></p> <p><span style="font-size:18px">"It is estimated that the water level has dropped compared to the last few years. This is because there was less rainfall during the winter this year. The wild animals have been directly hit due to this condition," he added.</span></p> <p><span style="font-size:18px">The rare one-horned rhino likes to wallow in the ponds during the summer. Other animals also direly need water. However, the old ponds and wetlands here are not managed accordingly for that purpose. </span></p> <p><span style="font-size:18px">The CNP Office has stated that they are facing problems in carrying out cleaning up and management works of water sources like removing the debris due to the lack of funds. </span></p> <p><span style="font-size:18px">"In the fiscal year 2075/76 BS, Rs 14.5 million was earmarked for managing the water sources inside the park. We had carried out work related to managing 60 ponds that year. That fund has reduced to just Rs 2.5 million this fiscal year 2080/81, which means it is not adequate to carry out cleaning and other management works," the Conservation Officer said.</span></p> <p><span style="font-size:18px">According to him, only seven ponds have been managed from the available funds this year. This means there is increased risk of human-wildlife conflict this year as the wild animals are likely to stray into human settlements. -- RSS</span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20755', 'image' => '20240520060000_20240519092413_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-05-20 05:59:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21024', 'article_category_id' => '1', 'title' => ' NEPSE Surges 45.69 Points, Life Insurance Sector Leads Gains', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 19: The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 323 scrips were traded on NEPSE through 74,991 transactions. A total of 12,240,802 shares changed hands, resulting in a total turnover of Rs 5.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with transactions worth Rs 14 crores. Sabaiko Laghubitta Bittiya Sanstha (SABSL) and Aatmanirbhar Laghubitta Bittiay Sanstha Limited (ANLB) each saw a 10% gain and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Mandu Hydropower Limited (MANDU) faced the maximum loss of 9.9%, closing at a market price of Rs 869.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in positive territory. The Life Insurance sector witnessed the highest gain of 4.38%, while the Trading Index saw the least gain at 0.55%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20751', 'image' => '20240519044620_collage.jpg', 'article_date' => '2024-05-19 16:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21023', 'article_category_id' => '1', 'title' => 'Increase in Arrival of Tourists Boosts Profits for Nepal's Hotels and Tourism Companies', 'sub_title' => '', 'summary' => 'KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of six companies in the hotel and tourism sector listed in the secondary market of securities, five have increased their profits by the third quarter of the current fiscal year. Among them, two companies have nearly achieved a 40 percent increase in profit. Despite one company still facing losses, it has managed to reduce its deficit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the unaudited financial statements for the first nine months of the current fiscal year, Taragaon Regency Hotels increased its net profit by 39.54%, Chandragiri Hills by 38.82%, Soaltee Hotel by 11.08%, Oriental Hotels by 9.91%, and Kalinchok Darshan by 6.92%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By the third quarter, Taragaon Regency Hotels earned a net profit of over Rs 333.2 million, compared to more than Rs 238.8 million during the same period last year. The company attributes its improved profit to a higher occupancy rate due to an increase in international tourists entering Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Looking ahead, Taragaon Regency Hotels aims to boost its income by increasing hotel occupancy through state-of-the-art technology and commercial strategic mechanisms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Chandragiri Hills' net profit exceeded Rs 107.9 million, up from Rs 77.7 million in the same period last year. Soaltee Hotel's net profit rose to over Rs 412.3 million, compared to Rs 371.1 million last year. Oriental Hotel's net profit increased slightly to over Rs 605.9 million from Rs 600 million last year. Kalinchok Darshan saw its net profit rise to around Rs 247 million from above Rs 203.1 million last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three of these six companies have consistently distributed dividends to the investors. This year, Taragaon Regency Hotels, Soaltee Hotel, and Oriental Hotels continued this trend, unlike many companies of other sector. Soaltee Hotel distributed 5% bonus shares and 26.57% cash dividend, totaling a 31.58% dividend. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Oriental Hotels, which hadn't distributed dividends since 2018/19, offered a 5.26% cash dividend this year. Taragaon Regency Hotels provided 5% bonus shares and 11% cash dividend, totaling a 15% dividend. Chandragiri Hills, Kalinchok Darshan, and City Hotel, which had issued initial public offerings last year, are gradually moving towards dividend distribution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The rise in income for these tourism sector companies is attributed to the increase in arrival of foreign tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Nepal Tourism Board, 416,069 foreign tourists visited Nepal by April 2024, a 27.42% increase from the same period in 2023. In 2023, over one million foreign tourists entered Nepal, marking the first time since the pandemic that this number was surpassed. The National Statistics Office estimates a 21.84% growth rate in accommodation and food service this year due to improvement in arrival of tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite the overall improvement, City Hotel remains in a loss, though it has reduced its deficit. By the third quarter, City Hotel reported a net loss of over Rs 150.37 million, down from more than Rs 216.1 million in the same period last year. The company had projected a net profit of Rs 9.849 million for the current year before issuing its IPO in May 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Director Tilak Koirala stated that the company is focused on reducing expenses and improving its financial situation. City Hotel has started generating income by renting out spaces for casino operations. The expansion of the banquet hall, which can accommodate 200 people, is near completion, and Koirala expects this to further increase income next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, City Hotel has reached an agreement with Hyatt International South West Asia to upgrade its current Hyatt Place brand to the Hyatt Centric brand, with the target to complete this upgrade by the first quarter of next year. The hotel is also prioritizing infrastructure changes to reflect the cultural heritage of the valley. Despite having a debt of over Rs 3 billion, Koirala is optimistic that the company will provide returns to investors within the next 2 to 3 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20750', 'image' => '20240519032706_Hotel.jpg', 'article_date' => '2024-05-19 15:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21022', 'article_category_id' => '1', 'title' => 'Implementation of Phukot-Karnali Hydropower Project Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Indian company NHPC Limited is reconsidering the agreement to provide a certain percentage of the electricity produced to Nepal for free. Additionally, a petition filed in the Supreme Court against the government’s decision to allow the Indian company to develop the project has cast further doubt on the project's immediate implementation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During Prime Minister Pushpa Kamal Dahal's visit to India in May last year, an agreement was signed to build the project in Kalikot district through a joint venture between Nepal’s Vidyut Utpadan Company Limited and NHPC Limited. According to this agreement, the Indian company would hold a 51 percent share in the joint venture, with the Nepali company holding the remaining share. The agreement also stipulated that 21.9 percent of the energy produced would be available to Nepal free of charge.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Nepali officials reported that around a month ago, the Indian company demanded an amendment to the free electricity provision in the contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bakhat Bahadur Shahi, Chief Executive Officer of the Vidyut Utpadan Company Limited, stated that NHPC has sent a letter requesting a reconsideration of this provision, claiming that the project is not financially feasible with the free electricity clause.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, it is not clear to what extent NHPC seeks flexibility from Nepal regarding the free electricity provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi mentioned that they the issue will be resolve through mutual agreement. "Since a writ has been filed against the agreement, bilateral discussions have not been possible," Shahi explained.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In December, Yashuda Kumari Baral and Ajay Bahadur Shahi from Raskot Municipality-8 of Kalikot filed a petition in the Supreme Court demanding the agreement be canceled, arguing that the 51 percent share given to the Indian company was not in the nation's interest. Baral criticized the decision, stating that projects that could be managed by the Government of Nepal should not be handed to foreign companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The writ lists 10 government offices, including the Office of the Prime Minister and the Council of Ministers, the Ministry of Energy, Water Resources and Irrigation, the Ministry of Finance, the Ministry of Forestry and Environment, the Department of Electricity Development, the Nepal Electricity Authority, the Vidyut Utpadan Company Limited, and the office of the Phukot Karnali Hydropower Project, as opponents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi noted that further discussions between the parties have been stalled due to the Supreme Court case concerning the share distribution to NHPC. The issue will only be resolved after the court's decision, after which formal negotiations on the concerns raised by the Indian company will proceed. "For now, we have informally replied that we should proceed according to the agreement," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">One year after the agreement, the joint venture has still not been registered with the government agency, casting doubt on the project's immediate implementation. Shahi indicated that the Indian company will be registered in the joint venture following the Supreme Court's decision and contract amendments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, Nepal had proposed that China build this project on the Karnali River under China's Belt and Road Initiative (BRI). However, no solid agreement was reached between Nepal and China, leading to the Indian company's involvement. NHPC has also been tasked with constructing the 750 MW West Seti and 450 MW Setinadi-6 projects.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20749', 'image' => '20240519031249_9b8ea9d4.jpeg', 'article_date' => '2024-05-19 15:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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' => '21032', 'article_category_id' => '1', 'title' => 'Muktinath Bikas Bank Distributes School Uniforms', 'sub_title' => '', 'summary' => 'Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 20: Muktinath Biaks Bank has distributed school uniforms to students in Nawalpur. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank distributed school uniforms to 76 students from nursery to grade 5 at Rambhadevi Basic School in Bulingtar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The bank provided uniforms as part of its corporate social responsibility, according to a press release issued by the bank. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Bank employees, school teachers, officials, and students were present at the uniform handover program. The bank believes that this program will encourage students to pursue their education.</span></span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20758', 'image' => '20240520083154_collage (4).jpg', 'article_date' => '2024-05-20 08:30:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21030', 'article_category_id' => '1', 'title' => '‘BRI Implementation Plan in Final Stage’', 'sub_title' => '', 'summary' => 'KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha has said that the Belt and Road Initiative (BRI) Implementation Plan was in the final stage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Speaking at a seminar organized by the Embassy of China in Kathmandu on Sunday, the Deputy Prime Minister said, "Nepal is ready to sign it at a mutually convenient time. I am confident that the implementation of this plan will bring visible results on the ground." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The seminar on "Review of the Friendship since the Establishment of Diplomatic Relations between Nepal and China, and Moving Forward Together for a Better Future" witnessed the participation from all major political parties, scholars and professionals as well as the chiefs and representatives from the friendship organizations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Deputy Prime Minister Shrestha also shared that Nepal has decided to join the Group of Friends of Global Development Initiatives (GDI), which was put forward by Chinese President Xi Jinping and formed at the United Nations to engage further in common development endeavours, including the fight against climate change impacts. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Shrestha added that Nepal-China ties is built on commonalities of culture, and geography, as well as people-to-people relations. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">"Over the years, we have built strong relations based on mutual respect, trust, goodwill, and understanding. Our relations are founded solidly on the bedrock of the Five Principles of Peaceful Coexistence called Panchsheel, age-old legacy of friendship, close and good neighbourliness, mutual cooperation and understanding, appreciation of each other’s sensitivities, and trusted partnership," said Shrestha. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Deputy Prime Minister said Nepal and China have discussed some key issues including enhancing support for socio-economic development and prosperity of Nepal, agriculture, connectivity, infrastructure, trade and investment, education, technology and innovation, sustainable development, and people-to-people relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He also shared that discussions were held with the Chinese side on matters relating to the opening of 14 traditional border trading points between Nepal and China, swift implementation of the ongoing development projects in Nepal, and further activating the established bilateral mechanisms. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal is committed to widening and deepening its cooperation with China in vital sectors such as connectivity, infrastructure development, agriculture, trade, tourism, investment, ICT, and people-to-people relations, among others, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Chinese Ambassador to Nepal Chen Song shared that the two countries have respected each other's interests and developed confidence. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Ambassador Chen made commitment to China's support to Nepal's development endeavors. -- RSS </span></span></span><br /> <br /> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20757', 'image' => '20240520061520_20231001020729_20230714012959_20221227011524_Flag-Pins-Nepal-China.jpg', 'article_date' => '2024-05-20 06:14:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21029', 'article_category_id' => '1', 'title' => 'Will There Be No Shortage of Chemical Fertilizer this Year?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. ', 'content' => '<p>KATHMANDU: The Ministry of Agriculture and Livestock Development on Sunday assured that there will be no shortage of chemical fertilizer for paddy plantation this year. </p> <p>It may be noted that farmers of Nepal facing extreme shortage of chemical fertilizers every year during the main planting season has become a perennial problem.</p> <p>According to government authorities, they often fail to import fertilizer on time due to lack of adequate budget for fertilizer procurement, failure of procurement process and lack of provision for back-up tenders.</p> <p>With the planting season just around the corner, the promise made by the ministry seems unlikely to materialize as the government does not have sufficient stock of fertilizers and the quantity it intends to import seems to be too less than the requirement.</p> <p>According to the Ministry of Agriculture and Livestock Development, 700,000 metric tons of chemical fertilizers are required per year for a total of 3.391 million hectares of land.</p> <p>Information Officer of the Ministry, Mahananda Joshi, told RSS that the Agriculture Inputs Company Limited has a stock of 52,000 metric tonnes of urea while the Salt Trading Corporation has 26,050 metric tones of urea. Similarly, the Agriculture Inputs Company Limited has 5,434 metric tonnes of DAP in stock and the Salt Trading Company has 4,092 metric tonnes of DAP. Furthermore, the two state-owned companies have a stock of more than 11,800 metric tonnes of potash.</p> <p>The ministry said that both the companies are importing an additional 242,119 metric tonnes of urea and almost 98,000 metric tonnes of DAP. Information Officer Joshi shared that the remaining quantity of fertilizers will be imported within a month. </p> <p>The adverse effect of fertilizer shortage has also started to be seen in Nepal's gross domestic product (GDP) in recent years. During the last decade, the contribution of agriculture sector in GDP decreased from 32.7 percent to 23.9 percent.</p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20756', 'image' => '20240520060139_20240519100436_20210105121301_20200817122726_1597613093.Clipboard02.jpg', 'article_date' => '2024-05-20 06:00:54', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21028', 'article_category_id' => '1', 'title' => 'Water Sources in CNP Drying up due to Drought, Putting Wild Animals in Trouble', 'sub_title' => '', 'summary' => 'CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. ', 'content' => '<p><span style="font-size:18px">CHITWAN: Wild animals of Chitwan National Park (CNP) are facing problems as the water sources have started drying up due to the ongoing drought. </span></p> <p><span style="font-size:18px">CNP Information Officer Ganesh Prasad Tiwari said that the water level in the 134 big and small lakes and ponds inside the park has started to recede fast due to the dry spell, putting the wild animals in trouble.</span></p> <p><span style="font-size:18px">According to him, the water level of the wetland, rivers and streams as well as of the natural water bodies and those of the man-made ponds inside the CNP has drastically decreased compared to the same period of last year.</span></p> <p><span style="font-size:18px">CNP Chief Conservation Officer Dil Bahadur Purja Pun said the water level in the lakes and ponds has fallen since there is no precipitation for a long time. There is high water evaporation from the water bodies due to the scorching heat and there is no rain to replenish it. </span></p> <p><span style="font-size:18px">"It is estimated that the water level has dropped compared to the last few years. This is because there was less rainfall during the winter this year. The wild animals have been directly hit due to this condition," he added.</span></p> <p><span style="font-size:18px">The rare one-horned rhino likes to wallow in the ponds during the summer. Other animals also direly need water. However, the old ponds and wetlands here are not managed accordingly for that purpose. </span></p> <p><span style="font-size:18px">The CNP Office has stated that they are facing problems in carrying out cleaning up and management works of water sources like removing the debris due to the lack of funds. </span></p> <p><span style="font-size:18px">"In the fiscal year 2075/76 BS, Rs 14.5 million was earmarked for managing the water sources inside the park. We had carried out work related to managing 60 ponds that year. That fund has reduced to just Rs 2.5 million this fiscal year 2080/81, which means it is not adequate to carry out cleaning and other management works," the Conservation Officer said.</span></p> <p><span style="font-size:18px">According to him, only seven ponds have been managed from the available funds this year. This means there is increased risk of human-wildlife conflict this year as the wild animals are likely to stray into human settlements. -- RSS</span></p> ', 'published' => true, 'created' => '2024-05-20', 'modified' => '2024-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '20755', 'image' => '20240520060000_20240519092413_20220915044159_20220613080155_Chitwan 3.jpg', 'article_date' => '2024-05-20 05:59:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21024', 'article_category_id' => '1', 'title' => ' NEPSE Surges 45.69 Points, Life Insurance Sector Leads Gains', 'sub_title' => '', 'summary' => ' The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 19: The Nepal Stock Exchange (NEPSE) witnessed a massive surge of 45.69 points, or 2.26%, closing at 2064.45 on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today's trading session, 323 scrips were traded on NEPSE through 74,991 transactions. A total of 12,240,802 shares changed hands, resulting in a total turnover of Rs 5.25 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited (CHDC) led the turnover amount with transactions worth Rs 14 crores. Sabaiko Laghubitta Bittiya Sanstha (SABSL) and Aatmanirbhar Laghubitta Bittiay Sanstha Limited (ANLB) each saw a 10% gain and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Mandu Hydropower Limited (MANDU) faced the maximum loss of 9.9%, closing at a market price of Rs 869.50 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all indices closed in positive territory. The Life Insurance sector witnessed the highest gain of 4.38%, while the Trading Index saw the least gain at 0.55%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20751', 'image' => '20240519044620_collage.jpg', 'article_date' => '2024-05-19 16:44:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '21023', 'article_category_id' => '1', 'title' => 'Increase in Arrival of Tourists Boosts Profits for Nepal's Hotels and Tourism Companies', 'sub_title' => '', 'summary' => 'KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: With the recovery in the tourism sector following the COVID-19 pandemic, Nepal's hotels and tourism-related companies have made significant profits.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Out of six companies in the hotel and tourism sector listed in the secondary market of securities, five have increased their profits by the third quarter of the current fiscal year. Among them, two companies have nearly achieved a 40 percent increase in profit. Despite one company still facing losses, it has managed to reduce its deficit.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the unaudited financial statements for the first nine months of the current fiscal year, Taragaon Regency Hotels increased its net profit by 39.54%, Chandragiri Hills by 38.82%, Soaltee Hotel by 11.08%, Oriental Hotels by 9.91%, and Kalinchok Darshan by 6.92%.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By the third quarter, Taragaon Regency Hotels earned a net profit of over Rs 333.2 million, compared to more than Rs 238.8 million during the same period last year. The company attributes its improved profit to a higher occupancy rate due to an increase in international tourists entering Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Looking ahead, Taragaon Regency Hotels aims to boost its income by increasing hotel occupancy through state-of-the-art technology and commercial strategic mechanisms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, Chandragiri Hills' net profit exceeded Rs 107.9 million, up from Rs 77.7 million in the same period last year. Soaltee Hotel's net profit rose to over Rs 412.3 million, compared to Rs 371.1 million last year. Oriental Hotel's net profit increased slightly to over Rs 605.9 million from Rs 600 million last year. Kalinchok Darshan saw its net profit rise to around Rs 247 million from above Rs 203.1 million last year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Three of these six companies have consistently distributed dividends to the investors. This year, Taragaon Regency Hotels, Soaltee Hotel, and Oriental Hotels continued this trend, unlike many companies of other sector. Soaltee Hotel distributed 5% bonus shares and 26.57% cash dividend, totaling a 31.58% dividend. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Oriental Hotels, which hadn't distributed dividends since 2018/19, offered a 5.26% cash dividend this year. Taragaon Regency Hotels provided 5% bonus shares and 11% cash dividend, totaling a 15% dividend. Chandragiri Hills, Kalinchok Darshan, and City Hotel, which had issued initial public offerings last year, are gradually moving towards dividend distribution.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The rise in income for these tourism sector companies is attributed to the increase in arrival of foreign tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Nepal Tourism Board, 416,069 foreign tourists visited Nepal by April 2024, a 27.42% increase from the same period in 2023. In 2023, over one million foreign tourists entered Nepal, marking the first time since the pandemic that this number was surpassed. The National Statistics Office estimates a 21.84% growth rate in accommodation and food service this year due to improvement in arrival of tourists.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite the overall improvement, City Hotel remains in a loss, though it has reduced its deficit. By the third quarter, City Hotel reported a net loss of over Rs 150.37 million, down from more than Rs 216.1 million in the same period last year. The company had projected a net profit of Rs 9.849 million for the current year before issuing its IPO in May 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Director Tilak Koirala stated that the company is focused on reducing expenses and improving its financial situation. City Hotel has started generating income by renting out spaces for casino operations. The expansion of the banquet hall, which can accommodate 200 people, is near completion, and Koirala expects this to further increase income next year.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, City Hotel has reached an agreement with Hyatt International South West Asia to upgrade its current Hyatt Place brand to the Hyatt Centric brand, with the target to complete this upgrade by the first quarter of next year. The hotel is also prioritizing infrastructure changes to reflect the cultural heritage of the valley. Despite having a debt of over Rs 3 billion, Koirala is optimistic that the company will provide returns to investors within the next 2 to 3 years.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20750', 'image' => '20240519032706_Hotel.jpg', 'article_date' => '2024-05-19 15:25:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21022', 'article_category_id' => '1', 'title' => 'Implementation of Phukot-Karnali Hydropower Project Uncertain', 'sub_title' => '', 'summary' => 'KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The implementation of the proposed 480-megawatt Phukot Karnali semi-reservoir hydropower project, which is being developed with joint investment of Nepal and India, has become uncertain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Indian company NHPC Limited is reconsidering the agreement to provide a certain percentage of the electricity produced to Nepal for free. Additionally, a petition filed in the Supreme Court against the government’s decision to allow the Indian company to develop the project has cast further doubt on the project's immediate implementation.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During Prime Minister Pushpa Kamal Dahal's visit to India in May last year, an agreement was signed to build the project in Kalikot district through a joint venture between Nepal’s Vidyut Utpadan Company Limited and NHPC Limited. According to this agreement, the Indian company would hold a 51 percent share in the joint venture, with the Nepali company holding the remaining share. The agreement also stipulated that 21.9 percent of the energy produced would be available to Nepal free of charge.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, Nepali officials reported that around a month ago, the Indian company demanded an amendment to the free electricity provision in the contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Bakhat Bahadur Shahi, Chief Executive Officer of the Vidyut Utpadan Company Limited, stated that NHPC has sent a letter requesting a reconsideration of this provision, claiming that the project is not financially feasible with the free electricity clause.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">However, it is not clear to what extent NHPC seeks flexibility from Nepal regarding the free electricity provision.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi mentioned that they the issue will be resolve through mutual agreement. "Since a writ has been filed against the agreement, bilateral discussions have not been possible," Shahi explained.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">In December, Yashuda Kumari Baral and Ajay Bahadur Shahi from Raskot Municipality-8 of Kalikot filed a petition in the Supreme Court demanding the agreement be canceled, arguing that the 51 percent share given to the Indian company was not in the nation's interest. Baral criticized the decision, stating that projects that could be managed by the Government of Nepal should not be handed to foreign companies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The writ lists 10 government offices, including the Office of the Prime Minister and the Council of Ministers, the Ministry of Energy, Water Resources and Irrigation, the Ministry of Finance, the Ministry of Forestry and Environment, the Department of Electricity Development, the Nepal Electricity Authority, the Vidyut Utpadan Company Limited, and the office of the Phukot Karnali Hydropower Project, as opponents.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Shahi noted that further discussions between the parties have been stalled due to the Supreme Court case concerning the share distribution to NHPC. The issue will only be resolved after the court's decision, after which formal negotiations on the concerns raised by the Indian company will proceed. "For now, we have informally replied that we should proceed according to the agreement," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">One year after the agreement, the joint venture has still not been registered with the government agency, casting doubt on the project's immediate implementation. Shahi indicated that the Indian company will be registered in the joint venture following the Supreme Court's decision and contract amendments.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, Nepal had proposed that China build this project on the Karnali River under China's Belt and Road Initiative (BRI). However, no solid agreement was reached between Nepal and China, leading to the Indian company's involvement. NHPC has also been tasked with constructing the 750 MW West Seti and 450 MW Setinadi-6 projects.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20749', 'image' => '20240519031249_9b8ea9d4.jpeg', 'article_date' => '2024-05-19 15:12:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21021', 'article_category_id' => '1', 'title' => 'Price of Gold Hits Rs 140,900 per Tola ', 'sub_title' => '', 'summary' => 'KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The price of gold has increased by Rs 1,600 per tola (11.66 grams) in the domestic market of Nepal on Sunday compared to the previous trading day. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the Federation of Nepal Gold and Silver Dealers' Associations, the price of hallmark gold has reached Rs 140,900. Hallmark gold was traded for Rs 139,300 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the price of standard gold has reached Rs 140,200 while it was traded for Rs 38,650 on Friday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, the federation has fixed the price of silver at Rs 1910 per tola on Sunday.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The price of gold has been rising steadily in the past few weeks. In the Nepali month of Chaitra (mid-March to mid-April), the price of gold has increased eleven times in the domestic market of Nepal. The federation fixes the price of gold and silver based on the price in the international market.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The recent geopolitical tension due to the Israel’s offensive in Gaza and the Russia-Ukraine war have led to investors to invest in gold considering it as a safe haven in times of turmoil.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Businessmen complain that the gold and silver jewelry business has decreased due to the continuous rise in the price of gold.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20748', 'image' => '20240519013650_gold newwww.jpg', 'article_date' => '2024-05-19 13:36:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21019', 'article_category_id' => '1', 'title' => 'Nepali Students in Kyrgyzstan Urged to Exercise Caution ', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepali nationals living in Kyrgyzstan have been urged to exercise caution, and remain indoors until the situation there returns to normal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The request comes following reports of mob violence targeting foreign students in Bishkek, the capital of Kyrgyzstan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the Embassy of Nepal in Islamabad, Pakistan has stated that the around 280 Nepalis living in and around Bishkek are reported to be safe. For any kind of information and support, the Embassy has requested to contract the Embassy's phone number +92512610321 (including WhatsApp) and email at eonislamabad@mofa.gov.np. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kyrgyz foreign ministry on Saturday assured that the situation was under control. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“From the moment information about the incident was received, law enforcement agencies of the Kyrgyz Republic took prompt measures to detain persons involved in the event, both foreign citizens and citizens of the Kyrgyz Republic,” the Kyrgyz foreign ministry said in a statement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20746', 'image' => '20240519123533_20231217112227_20230313020040_foreign education.jpg', 'article_date' => '2024-05-19 12:35:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21018', 'article_category_id' => '1', 'title' => 'Political Parties Agree to Form Parliamentary Probe Committee to End Deadlock', 'sub_title' => '', 'summary' => 'The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The ruling parties have agreed to form a parliamentary committee to end the ongoing political deadlock as per the demand of the main opposition party, Nepali Congress. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress (NC) was demanding the formation of a parliamentary committee to probe the alleged misappropriations in the cooperatives sector by Deputy Prime Minister and Home Minister Ravi Lamichhane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the ruling parties and opposition NC held at the Prime Minister's official residence in Baluwatar on Saturday decided to constitute the committee, NC's chief whip Ramesh Lekhak told the state-owned RSS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to Lekhak, the ToR of the committee will be finalized on Sunday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He said that all the political parties have shared a common view on forming the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak termed the decision as an achievement and a positive move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Law, Justice and Parliamentary Affairs Padam Giri would coordinate the job of drafting the ToR of the committee and the leaders of all political parties will give a final touch, RSS further reported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Lekhak viewed that the House of Representatives (HoR) meeting summoned for Sunday would be held after the decision to form the parliamentary committee. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A series of discussions and meetings among the leaders were held on Saturday for the formation of the committee. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The latest move is expected to end the political deadlock that has obstructed the parliamentary session as the government prepares to announce the budget. As per the constitutional provision, the government has to announce the budget for the upcoming fiscal year on May 28 this year. </span></span></span><br /> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20745', 'image' => '20240519112849_Parliament.jpg', 'article_date' => '2024-05-19 11:25:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21016', 'article_category_id' => '1', 'title' => 'Government Adopts Policy to Waive Income Tax and Provide Easy Loans to Startups', 'sub_title' => '', 'summary' => 'KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The government is set to promote and facilitate investment in startup enterprises. The 'National Startups Policy, 2080,' adopted and enforced by the Council of Ministers on May 2 specifies arrangements to provide waivers and facilities to the startups. In addition, it also has provisions to facilitate investment, ease policy and legal provisions, and assure commercial safety of startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The new policy states that exemptions will be made for costs involved in the registration and renewal of enterprises, and registration of industrial properties. Entrepreneurs will receive facilities and concessions for seed money, human resource development, consultancy and technical assistance, concessional loans, and cash incentives on exports, states the new policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the startup policy, startup enterprises will receive an income tax waiver for up to 10 years after establishment. Additionally, arrangements will be made to provide loans at concessional rates from banks and financial institutions, which will be required to allocate a certain percentage of their loan portfolio to startup enterprises.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">A separate fund will be established to promote new ideas and innovative enterprises, and subsidies will be provided for loans offered by banks and financial institutions to startups and innovations, the policy notes. -- RSS</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20743', 'image' => '20240519111030_startup.jpg', 'article_date' => '2024-05-19 11:09:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21015', 'article_category_id' => '1', 'title' => 'Birgunj Dryport Customs Falls Short of Revenue Collection Target', 'sub_title' => '', 'summary' => ' Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 19: Birgunj Dryport Customs Office has achieved only about 61% of its revenue target in the first 10 months of the current fiscal year 2080/81.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Customs Chief Ram Prasad Mainali stated that the decrease in imports due to the economic recession and the reduction in industrial production has impacted revenue collection. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This customs office, located at a major entry point, collected 40.03 billion rupees from the beginning of the fiscal year (Saun) to the end of Baisakh. This amount is 60.72% of the total target. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The Department of Customs had set a target of collecting 54.27 billion rupees for this period. For the current fiscal year, the total revenue target stands at 65.94 billion rupees, but customs officials claim they will not be able to exceed 70% of the target.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Raw materials for the iron industry, such as billets, and maize for animal feed are mainly imported via the dry port. The customs office reported a decline in imports of industrial raw materials and other consumables.</span></span></p> ', 'published' => true, 'created' => '2024-05-19', 'modified' => '2024-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '20742', 'image' => '20240519070146_collage (3).jpg', 'article_date' => '2024-05-19 07:00:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '21014', 'article_category_id' => '1', 'title' => 'Government to Ban Indian Spice Brands over Safety Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Nepal has become the latest jurisdiction to ban the import and sale of two popular Indian spice brands after reports that some of their products contained a cancer-causing pesticide, AFP reported on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Hong Kong and Singapore last month banned products from Everest and MDH -- two brands popular in India and exported worldwide -- after tests detected the presence of ethylene oxide, according to media reports.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Besides its use as a pesticide, ethylene oxide is used to sterilise medical equipment and as a sterilising agent in spices to prevent illnesses caused by salmonella and E. Coli bacteria, added the news report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Regular exposure to the colourless and odourless compound increases the "risk of cancers of the white blood cells", according to the US Environmental Protection Agency.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Matina Joshi Vaidya, chief of Nepal's Department of Food Technology and Quality Control, told AFP that the government had also decided to halt the sale of the spice blends.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is an issue of public health," she said. "We have its banned import and sale from Thursday."</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal has banned four products -- three variants produced by MDH and one by Everest.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We do not have the lab resources to run the tests in the country. The ban will be lifted when Indian authorities declare it safe," AFP quoted Vaidya as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the news agency, Everest and MDH are India's top two spice brands with a market share of 16 and 10 percent respectively in 2022, according to consumer research monitor Statista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Both companies have put out statements denying their products pose a health hazard to consumers after the Singapore and Hong Kong import bans.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"We clarify and state unequivocally that these claims are untrue and lack any substantiating evidence," MDH said last month on social media platform X.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">India's food regulation agency has asked for state authorities to carry out random testing of spice products, broadcaster NDTV reported.</span></span></p> ', 'published' => true, 'created' => '2024-05-18', 'modified' => '2024-05-18', 'keywords' => '', 'description' => '', 'sortorder' => '20741', 'image' => '20240518082036_masala.jpg', 'article_date' => '2024-05-18 08:19:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21013', 'article_category_id' => '1', 'title' => 'Central Bank Lowers Risk Weightage of Vehicle Loan through Monetary Policy Review', 'sub_title' => '', 'summary' => 'Kathmandu: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Nepal Rastra Bank (NRB) has reduced the risk weightage of vehicle loan through the third quarterly review of the monetary policy of the current fiscal year 2023/24. The Nepal Rastra Bank (NRB) has announced changes in the risk weightage of vehicle loans as part of the third-quarter review of the monetary policy for the current fiscal year 2023/24. The central bank has reduced the risk weightage on hire purchase loans provided by banks and financial institutions from 125 percent to 100 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, the NRB has introduced a provision that allows for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing the limit from 50 percent to 70 percent, provided appropriate evidence is presented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In its review of the monetary policy, the NRB has also introduced a provision allowing banks and financial institutions to sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-cap fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the loan loss provision requirement for loans classified as 'good loans' has been maintained at 1.20 percent, slightly reduced from the previous 1.25 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB indicated that the existing provisions related to the import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been maintained in this third-quarter review.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent, and the bank rate of 7.0 percent have remained unchanged," the review states.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NRB also mentioned that the provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of the interest rate corridor. Moreover, the central bank added that necessary facilitation would be provided to enable the use of additional instruments to further strengthen the capital base of banks and financial institutions.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20740', 'image' => '20240517074004_20231001020926_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-05-17 19:39:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21012', 'article_category_id' => '1', 'title' => 'Government Starts Implementing Public Investment Management Action Plan', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The government has prepared a public investment management action plan to be implemented within 5 years.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan prepared by the National Planning Commission to make public expenditure efficient and orderly has been implemented with the approval of the recent cabinet meeting.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has identified the problem of failure of government bodies in spending a significant portion (on average 30 to 40 percent) of the amount allocated through the annual budget and program for the development of public infrastructure.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan in which the problem has also been identified mentions, "Since the allocated amount could not be spent within the stipulated time, the project completion period is increasing compared to the initial estimate and the project cost is also increasing. There is a situation where the people are being deprived of using the service facilities on time."</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Yamlal Bhusal, the Acting Secretary of NPC, said that the action plan brought to increase the effectiveness of government spending will help to increase the effectiveness of investments in projects run by the government, public institutions and public-private investment. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan mentions that the National Project Bank will be reformed in a phased manner. The project bank operation procedures will also be formulated. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Similarly, the second goal is to organize the capital project portfolio through regular and transparent central monitoring. Under this section, the NPC will be made responsible for submitting quarterly and annual monitoring reports with detailed information about the project portfolio.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The action plan has also set targets to increase transparency in investment projects included in the budget and to prepare and implement guidelines for the regular maintenance of public infrastructure. The Ministry of Finance will be responsible for publishing detailed capital expenditure data at the sectoral and project levels, along with the annual budget, to show how investments from non-budgetary funds, public institutions, public-private partnerships, provincial and local levels, and development partners are being utilized.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">In order to ensure effective and transparent monitoring of public procurement, the action plan has set goals such as improving the electronic public procurement system, improving the central monitoring and inspection of investment projects through public institutions and public-private partnerships, and making necessary arrangements to strengthen project management.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The main work to be done to achieve each of these goals and the agencies and officials responsible for the same have also been specified in the action plan. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Questions are often raised about the ineffectiveness of government spending. In the absence of integrated details of the projects operated by three levels of government, funds are allocated twice for the same project from more than one level of government or from different agencies of the same level of government.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">“After the implementation of this action plan, it is expected that there will be no budget allocation for projects or programs that have not been adequately prepared and are not financially and technically feasible,” said Acting Secretary Bhusal.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-17', 'modified' => '2024-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '20739', 'image' => '20240517012026_20240514102633_20230801125035_20230703105203_image.jpg', 'article_date' => '2024-05-17 13:19:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, '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
