December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement,…
December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect…
December 174: The 4th furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha,…
December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000.…
December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on…
December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9th annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19…
December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development…
December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger…
December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry…
December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will…
December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on…
December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs.…
December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an…
December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation.…
December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers,…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]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' => '4883', 'article_category_id' => '1', 'title' => 'International Volunteer Day 2016 celebrated', 'sub_title' => '', 'summary' => 'December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, ', 'content' => '<p style="margin-left: 10.35pt; text-align: justify;">December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, social inclusion and private sector responsibility to development were discussed in the programme.</p> <p style="margin-left: 10.35pt; text-align: justify;">The IVD 2016 was celebrated with a theme "#Global Applause-Give volunteer's a hand!". In the programme, three volunteers were honoured for their diverse contributions in Nepal. They were chosen as winners and were awarded with cash prizes. These winners were chosen by a jury of celebrities, including singer Indira Joshi, member of the rock band 1974 AD Sanjay Shrestha, former Miss Nepal Malvika Subba , former Miss Nepal Earth Nagma Shrestha and Mega Bank CEO Anil Shah who themselves are voluntarily engaged in advocacy and awareness raising.</p> <p style="margin-left: 10.35pt; text-align: justify;">Issuing a press statement, the UN in Nepal said that the objective of the IVD celebration is to provide a platform for volunteers to improve collaboration and create further actions for tangible results. "By sharing individual volunteer stories as part of our Nepal IVD 2016 campaign “I volunteer-here is my story!” we want to share how a single person can make a difference and inspire others to take action," reads the statement. </p> <p style="margin-left: 9pt; text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4713', 'image' => '20161207023931_ivn.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4882', 'article_category_id' => '1', 'title' => 'Construction Sector Requires Proper Address from Government: FCAN', 'sub_title' => '', 'summary' => 'December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect em', 'content' => '<p style="text-align: justify;">December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect employments. Based on the work experience gained in the sector, thousands of Nepalis are migrating to foreign countries for employment. Even though the government has not been able to either properly systemize the sector or to utilise the labour force in the process of nation building, they opined.</p> <p style="text-align: justify;">The construction entrepreneurs complained on being unrecognised as an industry besides completing 25 years of formation of Federation of Contractors' Associations of Nepal (FCAN), an umbrella organisation of construction entrepreneurs of the nation. They opined that the public's stale attitude toward construction entrepreneurs and the government's outdated policies have created various problems to the sector. "Although more than 12,000 entrepreneurs are engaged in the construction sector and despite being a helping hand in the nation building, the government has not given adequate attention toward making the sector secure," said Sharad Kumar Gauchan, President of FCAN.</p> <p style="text-align: justify;">"Lack of labour force, scarcity of local raw materials and conducts of government, local public and in some circumstances, construction entrepreneurs are the main problems of the sector," said Ram Sharan Dueja, General Secretary of FCAN. He added "We have problems as well; however, the Public Procurement Act and other few tactical positions are such that do not provide any benefit to the government and public."</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4712', 'image' => '20161207015241_FCAN.JPG', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4881', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Concludes: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 174: The 4th furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vic', 'content' => '<p style="text-align: justify;">December 174: The 4<sup>th</sup> furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vice-Presidentof NFFA and Conveyor of Expo Main Organiser Committee, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, had shown enthusiasm towards furniture and mattresses. On the last day of the expo, five lucky draw competitions were organized in which Diya Traders, Spaces Magazines, Dolphin Chair, Supreme Chair and Pallavi International sponsored various merchandise. </p> <p style="text-align: justify;">The expo showcased various furnishing products, furniture and home appliances. Moreover, the expo also provided Vastu Consultation. The expo aimed of bringing related businessmen, producers, sellers, buyers in the same platform in order to promote the local and imported products. Shaan Furniture Udhyog was the title sponsor while Yeti Flooring and Gem Flooring were the main sponsors of the expo.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4711', 'image' => '20161207115324_funex final.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4880', 'article_category_id' => '1', 'title' => 'Tourism Devt Bank Launches Swarnim Fixed Deposit Scheme', 'sub_title' => '', 'summary' => 'December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. ', 'content' => '<p style="text-align: justify;">December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4710', 'image' => '20161207112712_tourims.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4879', 'article_category_id' => '1', 'title' => 'Sunrise Bank's BLB Service in Sarmujuwa', 'sub_title' => '', 'summary' => 'December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tues', 'content' => '<p style="text-align: justify;">December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tuesday, December 7. The opening is the bank's 13<sup>th</sup> BLB service. In the program, Bipat Chaudhary, Branch Manager of Gaur highlighted the objectives of the opening of BLB services in the area. Moreover, he handed over Point of Sale Machine to business representative Khursaid Khan Pathan. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4709', 'image' => '20161207111312_sunrise.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4878', 'article_category_id' => '1', 'title' => 'NRB Approves Fewa's Bonus Share ', 'sub_title' => '', 'summary' => 'December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9th annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.', 'content' => '<p style="text-align:justify">December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9<sup>th</sup> annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4708', 'image' => '20161207104042_fewa.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4877', 'article_category_id' => '1', 'title' => 'Construction of SAARC Handicraft Development Center Starts', 'sub_title' => '', 'summary' => 'December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.', 'content' => '<p style="text-align: justify;">December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.</p> <p style="text-align: justify;">According to the Rishi Raj Subedi, Deputy Director of FHAN, the government has provided three ropanies of land in the premises of Department of Small and Cottage Industries at Tripureshwor for the construction of the Center. “The Center is being constructed for the promotion and development of handicrafts of SAARC nations,” he informs. He further added that the Center will serve as SAARC level handicraft design center.</p> <p style="text-align: justify;">The government will be providing Rs 150 million for the Center being constructed under its multi-year plan. As per Subedi, the government has decided to bear the entire amount spent on the construction of the centre. “Under the current FY's budget, Rs 50 million has been approved as seed capital,” he informed. Subedi informed that the government will provide the remaining amount on next FY's budget while the building is under-construction. As per him, the SAARC secretariat will also lend a hand in the construction of the center. FHAN is planning to conclude the construction work within two years. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4707', 'image' => '20161206035755_handi craft.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4876', 'article_category_id' => '1', 'title' => '45 BFIs in Merger and Acquisition Process', 'sub_title' => '', 'summary' => 'December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger f', 'content' => '<p style="text-align: justify;">December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger from NRB. Apart from that, 13 BFIs have received agreement in principle (Letter of Intent) for merger and acquisition. Similarly, remaining 24 BFIs have, though, submitted request letters, have not started the process of agreement in principle.</p> <p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p> <p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p> <p style="text-align: justify;">According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.</p> <p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4706', 'image' => '20161206024918_merger.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4875', 'article_category_id' => '1', 'title' => 'Shrestha Re-elected as Vice-President of CACCI', 'sub_title' => '', 'summary' => 'December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).', 'content' => '<p style="text-align: justify;">December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).</p> <p style="text-align: justify;">The 30<sup>th</sup> conference and 50<sup>th</sup> anniversary of CACCI, a regional association composed of the national chambers or associations of commerce and industry in Asia and the Western Pacific has elected Shrestha as the vice-president for the next tenure. Shrestha is a General Manager of Panchakanya Group of companies.</p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4705', 'image' => '20161206123635_SHRESTHA.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4874', 'article_category_id' => '1', 'title' => 'NIC Asia and Yeti Bank Enter NCHL-IPS', 'sub_title' => '', 'summary' => 'December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provi', 'content' => '<p style="text-align: justify;">December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provide NCHL-IPS service for electronic payment system to the banks. </p> <p style="text-align: justify;"><br /> Neelesh Man Singh Pradhan, CEO of NCHL and Representatives of the banks signed the agreements on behalf of their respective organisations amid separate programs. Under the NCHL-IPS system, customers can withdraw and make the payments from any accounts of the member banks and financial institutions. Under this service, customers can make the payments of money, dividends, IPO refund, bill s, premium, social welfare allowance, pension/salary, remittance and any other types of payment services. </p> <p> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4704', 'image' => '20161206114416_NCHL.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4873', 'article_category_id' => '1', 'title' => 'Himalayan Bank Grants Ambulance', 'sub_title' => '', 'summary' => 'December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.', 'content' => '<p style="text-align: justify;">December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.</p> <p style="text-align: justify;">The bank handed over the ambulance to the community under an initiation of Ganesh Thapa, MP from Makwanpur. Samudayik Swastha Clinic operated by Prem Sewa Samaj in Makwanpur took the responsibility of operating the ambulance. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4703', 'image' => '20161206112540_himalayan bank.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4872', 'article_category_id' => '1', 'title' => 'Nabil Honours Employees', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. ', 'content' => '<p style="text-align: justify;">December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4702', 'image' => '20161206110911_nabil.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4871', 'article_category_id' => '1', 'title' => 'Siddhartha Bank appoints Jitu and Daman as Brand Ambassadors', 'sub_title' => '', 'summary' => 'December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an ag', 'content' => '<p style="text-align:justify">December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an agreement regarding the matter on December 5. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4701', 'image' => '20161206104705_siddhartha.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4870', 'article_category_id' => '1', 'title' => 'Citizens Bank appoints Sanima Capital as Issue Manager', 'sub_title' => '', 'summary' => 'December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under', 'content' => '<p style="text-align:justify">December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under the agreement, Sanima Capital will manage the10:2.5 right shares issuance endorsed by 10<sup>th</sup> AGM of the bank. After the issuance of the right shares, the bank's paid-up capital will reach Rs 6.92 billion. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4700', 'image' => '20161206103739_citizens bank.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4869', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Third Day: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals', 'content' => '<p style="text-align: justify;">December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors' beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, have shown enthusiasm towards furniture and mattresses. The expo which will end on December 6 is also organising an Interior Design Competition (IDC-2016) among the students. </p> <p style="text-align: justify;">The expo is showcasing various furnishing products, furniture and home appliances. Moreover, the expo is also providing Vastu Consultation. The expo aims to bring related businessmen, producers, sellers, buyers in the same platform which will help to promote the local and imported products.</p> <p style="text-align: justify;">Joshi added that the customers will get information about furniture, designs and price in the expo. The title sponsor for the event is Shaan Furniture and the main sponsors are Yeti Flooring and Gem Flooring. </p> ', 'published' => true, 'created' => '2016-12-05', 'modified' => '2016-12-05', 'keywords' => '', 'description' => '', 'sortorder' => '4699', 'image' => '20161205014606_furnex.jpg', 'article_date' => '2016-12-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '4883', 'article_category_id' => '1', 'title' => 'International Volunteer Day 2016 celebrated', 'sub_title' => '', 'summary' => 'December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, ', 'content' => '<p style="margin-left: 10.35pt; text-align: justify;">December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, social inclusion and private sector responsibility to development were discussed in the programme.</p> <p style="margin-left: 10.35pt; text-align: justify;">The IVD 2016 was celebrated with a theme "#Global Applause-Give volunteer's a hand!". In the programme, three volunteers were honoured for their diverse contributions in Nepal. They were chosen as winners and were awarded with cash prizes. These winners were chosen by a jury of celebrities, including singer Indira Joshi, member of the rock band 1974 AD Sanjay Shrestha, former Miss Nepal Malvika Subba , former Miss Nepal Earth Nagma Shrestha and Mega Bank CEO Anil Shah who themselves are voluntarily engaged in advocacy and awareness raising.</p> <p style="margin-left: 10.35pt; text-align: justify;">Issuing a press statement, the UN in Nepal said that the objective of the IVD celebration is to provide a platform for volunteers to improve collaboration and create further actions for tangible results. "By sharing individual volunteer stories as part of our Nepal IVD 2016 campaign “I volunteer-here is my story!” we want to share how a single person can make a difference and inspire others to take action," reads the statement. </p> <p style="margin-left: 9pt; text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4713', 'image' => '20161207023931_ivn.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4882', 'article_category_id' => '1', 'title' => 'Construction Sector Requires Proper Address from Government: FCAN', 'sub_title' => '', 'summary' => 'December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect em', 'content' => '<p style="text-align: justify;">December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect employments. Based on the work experience gained in the sector, thousands of Nepalis are migrating to foreign countries for employment. Even though the government has not been able to either properly systemize the sector or to utilise the labour force in the process of nation building, they opined.</p> <p style="text-align: justify;">The construction entrepreneurs complained on being unrecognised as an industry besides completing 25 years of formation of Federation of Contractors' Associations of Nepal (FCAN), an umbrella organisation of construction entrepreneurs of the nation. They opined that the public's stale attitude toward construction entrepreneurs and the government's outdated policies have created various problems to the sector. "Although more than 12,000 entrepreneurs are engaged in the construction sector and despite being a helping hand in the nation building, the government has not given adequate attention toward making the sector secure," said Sharad Kumar Gauchan, President of FCAN.</p> <p style="text-align: justify;">"Lack of labour force, scarcity of local raw materials and conducts of government, local public and in some circumstances, construction entrepreneurs are the main problems of the sector," said Ram Sharan Dueja, General Secretary of FCAN. He added "We have problems as well; however, the Public Procurement Act and other few tactical positions are such that do not provide any benefit to the government and public."</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4712', 'image' => '20161207015241_FCAN.JPG', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4881', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Concludes: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 174: The 4th furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vic', 'content' => '<p style="text-align: justify;">December 174: The 4<sup>th</sup> furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vice-Presidentof NFFA and Conveyor of Expo Main Organiser Committee, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, had shown enthusiasm towards furniture and mattresses. On the last day of the expo, five lucky draw competitions were organized in which Diya Traders, Spaces Magazines, Dolphin Chair, Supreme Chair and Pallavi International sponsored various merchandise. </p> <p style="text-align: justify;">The expo showcased various furnishing products, furniture and home appliances. Moreover, the expo also provided Vastu Consultation. The expo aimed of bringing related businessmen, producers, sellers, buyers in the same platform in order to promote the local and imported products. Shaan Furniture Udhyog was the title sponsor while Yeti Flooring and Gem Flooring were the main sponsors of the expo.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4711', 'image' => '20161207115324_funex final.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4880', 'article_category_id' => '1', 'title' => 'Tourism Devt Bank Launches Swarnim Fixed Deposit Scheme', 'sub_title' => '', 'summary' => 'December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. ', 'content' => '<p style="text-align: justify;">December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4710', 'image' => '20161207112712_tourims.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4879', 'article_category_id' => '1', 'title' => 'Sunrise Bank's BLB Service in Sarmujuwa', 'sub_title' => '', 'summary' => 'December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tues', 'content' => '<p style="text-align: justify;">December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tuesday, December 7. The opening is the bank's 13<sup>th</sup> BLB service. In the program, Bipat Chaudhary, Branch Manager of Gaur highlighted the objectives of the opening of BLB services in the area. Moreover, he handed over Point of Sale Machine to business representative Khursaid Khan Pathan. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4709', 'image' => '20161207111312_sunrise.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4878', 'article_category_id' => '1', 'title' => 'NRB Approves Fewa's Bonus Share ', 'sub_title' => '', 'summary' => 'December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9th annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.', 'content' => '<p style="text-align:justify">December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9<sup>th</sup> annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4708', 'image' => '20161207104042_fewa.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4877', 'article_category_id' => '1', 'title' => 'Construction of SAARC Handicraft Development Center Starts', 'sub_title' => '', 'summary' => 'December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.', 'content' => '<p style="text-align: justify;">December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.</p> <p style="text-align: justify;">According to the Rishi Raj Subedi, Deputy Director of FHAN, the government has provided three ropanies of land in the premises of Department of Small and Cottage Industries at Tripureshwor for the construction of the Center. “The Center is being constructed for the promotion and development of handicrafts of SAARC nations,” he informs. He further added that the Center will serve as SAARC level handicraft design center.</p> <p style="text-align: justify;">The government will be providing Rs 150 million for the Center being constructed under its multi-year plan. As per Subedi, the government has decided to bear the entire amount spent on the construction of the centre. “Under the current FY's budget, Rs 50 million has been approved as seed capital,” he informed. Subedi informed that the government will provide the remaining amount on next FY's budget while the building is under-construction. As per him, the SAARC secretariat will also lend a hand in the construction of the center. FHAN is planning to conclude the construction work within two years. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4707', 'image' => '20161206035755_handi craft.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4876', 'article_category_id' => '1', 'title' => '45 BFIs in Merger and Acquisition Process', 'sub_title' => '', 'summary' => 'December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger f', 'content' => '<p style="text-align: justify;">December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger from NRB. Apart from that, 13 BFIs have received agreement in principle (Letter of Intent) for merger and acquisition. Similarly, remaining 24 BFIs have, though, submitted request letters, have not started the process of agreement in principle.</p> <p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p> <p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p> <p style="text-align: justify;">According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.</p> <p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4706', 'image' => '20161206024918_merger.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4875', 'article_category_id' => '1', 'title' => 'Shrestha Re-elected as Vice-President of CACCI', 'sub_title' => '', 'summary' => 'December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).', 'content' => '<p style="text-align: justify;">December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).</p> <p style="text-align: justify;">The 30<sup>th</sup> conference and 50<sup>th</sup> anniversary of CACCI, a regional association composed of the national chambers or associations of commerce and industry in Asia and the Western Pacific has elected Shrestha as the vice-president for the next tenure. Shrestha is a General Manager of Panchakanya Group of companies.</p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4705', 'image' => '20161206123635_SHRESTHA.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4874', 'article_category_id' => '1', 'title' => 'NIC Asia and Yeti Bank Enter NCHL-IPS', 'sub_title' => '', 'summary' => 'December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provi', 'content' => '<p style="text-align: justify;">December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provide NCHL-IPS service for electronic payment system to the banks. </p> <p style="text-align: justify;"><br /> Neelesh Man Singh Pradhan, CEO of NCHL and Representatives of the banks signed the agreements on behalf of their respective organisations amid separate programs. Under the NCHL-IPS system, customers can withdraw and make the payments from any accounts of the member banks and financial institutions. Under this service, customers can make the payments of money, dividends, IPO refund, bill s, premium, social welfare allowance, pension/salary, remittance and any other types of payment services. </p> <p> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4704', 'image' => '20161206114416_NCHL.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4873', 'article_category_id' => '1', 'title' => 'Himalayan Bank Grants Ambulance', 'sub_title' => '', 'summary' => 'December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.', 'content' => '<p style="text-align: justify;">December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.</p> <p style="text-align: justify;">The bank handed over the ambulance to the community under an initiation of Ganesh Thapa, MP from Makwanpur. Samudayik Swastha Clinic operated by Prem Sewa Samaj in Makwanpur took the responsibility of operating the ambulance. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4703', 'image' => '20161206112540_himalayan bank.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4872', 'article_category_id' => '1', 'title' => 'Nabil Honours Employees', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. ', 'content' => '<p style="text-align: justify;">December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4702', 'image' => '20161206110911_nabil.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4871', 'article_category_id' => '1', 'title' => 'Siddhartha Bank appoints Jitu and Daman as Brand Ambassadors', 'sub_title' => '', 'summary' => 'December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an ag', 'content' => '<p style="text-align:justify">December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an agreement regarding the matter on December 5. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4701', 'image' => '20161206104705_siddhartha.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4870', 'article_category_id' => '1', 'title' => 'Citizens Bank appoints Sanima Capital as Issue Manager', 'sub_title' => '', 'summary' => 'December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under', 'content' => '<p style="text-align:justify">December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under the agreement, Sanima Capital will manage the10:2.5 right shares issuance endorsed by 10<sup>th</sup> AGM of the bank. After the issuance of the right shares, the bank's paid-up capital will reach Rs 6.92 billion. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4700', 'image' => '20161206103739_citizens bank.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4869', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Third Day: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals', 'content' => '<p style="text-align: justify;">December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors' beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, have shown enthusiasm towards furniture and mattresses. The expo which will end on December 6 is also organising an Interior Design Competition (IDC-2016) among the students. </p> <p style="text-align: justify;">The expo is showcasing various furnishing products, furniture and home appliances. Moreover, the expo is also providing Vastu Consultation. The expo aims to bring related businessmen, producers, sellers, buyers in the same platform which will help to promote the local and imported products.</p> <p style="text-align: justify;">Joshi added that the customers will get information about furniture, designs and price in the expo. The title sponsor for the event is Shaan Furniture and the main sponsors are Yeti Flooring and Gem Flooring. </p> ', 'published' => true, 'created' => '2016-12-05', 'modified' => '2016-12-05', 'keywords' => '', 'description' => '', 'sortorder' => '4699', 'image' => '20161205014606_furnex.jpg', 'article_date' => '2016-12-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '4883', 'article_category_id' => '1', 'title' => 'International Volunteer Day 2016 celebrated', 'sub_title' => '', 'summary' => 'December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, ', 'content' => '<p style="margin-left: 10.35pt; text-align: justify;">December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, social inclusion and private sector responsibility to development were discussed in the programme.</p> <p style="margin-left: 10.35pt; text-align: justify;">The IVD 2016 was celebrated with a theme "#Global Applause-Give volunteer's a hand!". In the programme, three volunteers were honoured for their diverse contributions in Nepal. They were chosen as winners and were awarded with cash prizes. These winners were chosen by a jury of celebrities, including singer Indira Joshi, member of the rock band 1974 AD Sanjay Shrestha, former Miss Nepal Malvika Subba , former Miss Nepal Earth Nagma Shrestha and Mega Bank CEO Anil Shah who themselves are voluntarily engaged in advocacy and awareness raising.</p> <p style="margin-left: 10.35pt; text-align: justify;">Issuing a press statement, the UN in Nepal said that the objective of the IVD celebration is to provide a platform for volunteers to improve collaboration and create further actions for tangible results. "By sharing individual volunteer stories as part of our Nepal IVD 2016 campaign “I volunteer-here is my story!” we want to share how a single person can make a difference and inspire others to take action," reads the statement. </p> <p style="margin-left: 9pt; text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4713', 'image' => '20161207023931_ivn.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4882', 'article_category_id' => '1', 'title' => 'Construction Sector Requires Proper Address from Government: FCAN', 'sub_title' => '', 'summary' => 'December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect em', 'content' => '<p style="text-align: justify;">December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect employments. Based on the work experience gained in the sector, thousands of Nepalis are migrating to foreign countries for employment. Even though the government has not been able to either properly systemize the sector or to utilise the labour force in the process of nation building, they opined.</p> <p style="text-align: justify;">The construction entrepreneurs complained on being unrecognised as an industry besides completing 25 years of formation of Federation of Contractors' Associations of Nepal (FCAN), an umbrella organisation of construction entrepreneurs of the nation. They opined that the public's stale attitude toward construction entrepreneurs and the government's outdated policies have created various problems to the sector. "Although more than 12,000 entrepreneurs are engaged in the construction sector and despite being a helping hand in the nation building, the government has not given adequate attention toward making the sector secure," said Sharad Kumar Gauchan, President of FCAN.</p> <p style="text-align: justify;">"Lack of labour force, scarcity of local raw materials and conducts of government, local public and in some circumstances, construction entrepreneurs are the main problems of the sector," said Ram Sharan Dueja, General Secretary of FCAN. He added "We have problems as well; however, the Public Procurement Act and other few tactical positions are such that do not provide any benefit to the government and public."</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4712', 'image' => '20161207015241_FCAN.JPG', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4881', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Concludes: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 174: The 4th furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vic', 'content' => '<p style="text-align: justify;">December 174: The 4<sup>th</sup> furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vice-Presidentof NFFA and Conveyor of Expo Main Organiser Committee, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, had shown enthusiasm towards furniture and mattresses. On the last day of the expo, five lucky draw competitions were organized in which Diya Traders, Spaces Magazines, Dolphin Chair, Supreme Chair and Pallavi International sponsored various merchandise. </p> <p style="text-align: justify;">The expo showcased various furnishing products, furniture and home appliances. Moreover, the expo also provided Vastu Consultation. The expo aimed of bringing related businessmen, producers, sellers, buyers in the same platform in order to promote the local and imported products. Shaan Furniture Udhyog was the title sponsor while Yeti Flooring and Gem Flooring were the main sponsors of the expo.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4711', 'image' => '20161207115324_funex final.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4880', 'article_category_id' => '1', 'title' => 'Tourism Devt Bank Launches Swarnim Fixed Deposit Scheme', 'sub_title' => '', 'summary' => 'December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. ', 'content' => '<p style="text-align: justify;">December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4710', 'image' => '20161207112712_tourims.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4879', 'article_category_id' => '1', 'title' => 'Sunrise Bank's BLB Service in Sarmujuwa', 'sub_title' => '', 'summary' => 'December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tues', 'content' => '<p style="text-align: justify;">December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tuesday, December 7. The opening is the bank's 13<sup>th</sup> BLB service. In the program, Bipat Chaudhary, Branch Manager of Gaur highlighted the objectives of the opening of BLB services in the area. Moreover, he handed over Point of Sale Machine to business representative Khursaid Khan Pathan. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4709', 'image' => '20161207111312_sunrise.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4878', 'article_category_id' => '1', 'title' => 'NRB Approves Fewa's Bonus Share ', 'sub_title' => '', 'summary' => 'December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9th annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.', 'content' => '<p style="text-align:justify">December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9<sup>th</sup> annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4708', 'image' => '20161207104042_fewa.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4877', 'article_category_id' => '1', 'title' => 'Construction of SAARC Handicraft Development Center Starts', 'sub_title' => '', 'summary' => 'December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.', 'content' => '<p style="text-align: justify;">December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.</p> <p style="text-align: justify;">According to the Rishi Raj Subedi, Deputy Director of FHAN, the government has provided three ropanies of land in the premises of Department of Small and Cottage Industries at Tripureshwor for the construction of the Center. “The Center is being constructed for the promotion and development of handicrafts of SAARC nations,” he informs. He further added that the Center will serve as SAARC level handicraft design center.</p> <p style="text-align: justify;">The government will be providing Rs 150 million for the Center being constructed under its multi-year plan. As per Subedi, the government has decided to bear the entire amount spent on the construction of the centre. “Under the current FY's budget, Rs 50 million has been approved as seed capital,” he informed. Subedi informed that the government will provide the remaining amount on next FY's budget while the building is under-construction. As per him, the SAARC secretariat will also lend a hand in the construction of the center. FHAN is planning to conclude the construction work within two years. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4707', 'image' => '20161206035755_handi craft.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4876', 'article_category_id' => '1', 'title' => '45 BFIs in Merger and Acquisition Process', 'sub_title' => '', 'summary' => 'December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger f', 'content' => '<p style="text-align: justify;">December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger from NRB. Apart from that, 13 BFIs have received agreement in principle (Letter of Intent) for merger and acquisition. Similarly, remaining 24 BFIs have, though, submitted request letters, have not started the process of agreement in principle.</p> <p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p> <p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p> <p style="text-align: justify;">According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.</p> <p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4706', 'image' => '20161206024918_merger.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4875', 'article_category_id' => '1', 'title' => 'Shrestha Re-elected as Vice-President of CACCI', 'sub_title' => '', 'summary' => 'December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).', 'content' => '<p style="text-align: justify;">December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).</p> <p style="text-align: justify;">The 30<sup>th</sup> conference and 50<sup>th</sup> anniversary of CACCI, a regional association composed of the national chambers or associations of commerce and industry in Asia and the Western Pacific has elected Shrestha as the vice-president for the next tenure. Shrestha is a General Manager of Panchakanya Group of companies.</p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4705', 'image' => '20161206123635_SHRESTHA.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4874', 'article_category_id' => '1', 'title' => 'NIC Asia and Yeti Bank Enter NCHL-IPS', 'sub_title' => '', 'summary' => 'December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provi', 'content' => '<p style="text-align: justify;">December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provide NCHL-IPS service for electronic payment system to the banks. </p> <p style="text-align: justify;"><br /> Neelesh Man Singh Pradhan, CEO of NCHL and Representatives of the banks signed the agreements on behalf of their respective organisations amid separate programs. Under the NCHL-IPS system, customers can withdraw and make the payments from any accounts of the member banks and financial institutions. Under this service, customers can make the payments of money, dividends, IPO refund, bill s, premium, social welfare allowance, pension/salary, remittance and any other types of payment services. </p> <p> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4704', 'image' => '20161206114416_NCHL.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4873', 'article_category_id' => '1', 'title' => 'Himalayan Bank Grants Ambulance', 'sub_title' => '', 'summary' => 'December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.', 'content' => '<p style="text-align: justify;">December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.</p> <p style="text-align: justify;">The bank handed over the ambulance to the community under an initiation of Ganesh Thapa, MP from Makwanpur. Samudayik Swastha Clinic operated by Prem Sewa Samaj in Makwanpur took the responsibility of operating the ambulance. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4703', 'image' => '20161206112540_himalayan bank.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4872', 'article_category_id' => '1', 'title' => 'Nabil Honours Employees', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. ', 'content' => '<p style="text-align: justify;">December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4702', 'image' => '20161206110911_nabil.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4871', 'article_category_id' => '1', 'title' => 'Siddhartha Bank appoints Jitu and Daman as Brand Ambassadors', 'sub_title' => '', 'summary' => 'December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an ag', 'content' => '<p style="text-align:justify">December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an agreement regarding the matter on December 5. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4701', 'image' => '20161206104705_siddhartha.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4870', 'article_category_id' => '1', 'title' => 'Citizens Bank appoints Sanima Capital as Issue Manager', 'sub_title' => '', 'summary' => 'December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under', 'content' => '<p style="text-align:justify">December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under the agreement, Sanima Capital will manage the10:2.5 right shares issuance endorsed by 10<sup>th</sup> AGM of the bank. After the issuance of the right shares, the bank's paid-up capital will reach Rs 6.92 billion. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4700', 'image' => '20161206103739_citizens bank.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4869', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Third Day: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals', 'content' => '<p style="text-align: justify;">December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors' beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, have shown enthusiasm towards furniture and mattresses. The expo which will end on December 6 is also organising an Interior Design Competition (IDC-2016) among the students. </p> <p style="text-align: justify;">The expo is showcasing various furnishing products, furniture and home appliances. Moreover, the expo is also providing Vastu Consultation. The expo aims to bring related businessmen, producers, sellers, buyers in the same platform which will help to promote the local and imported products.</p> <p style="text-align: justify;">Joshi added that the customers will get information about furniture, designs and price in the expo. The title sponsor for the event is Shaan Furniture and the main sponsors are Yeti Flooring and Gem Flooring. </p> ', 'published' => true, 'created' => '2016-12-05', 'modified' => '2016-12-05', 'keywords' => '', 'description' => '', 'sortorder' => '4699', 'image' => '20161205014606_furnex.jpg', 'article_date' => '2016-12-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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' => '4883', 'article_category_id' => '1', 'title' => 'International Volunteer Day 2016 celebrated', 'sub_title' => '', 'summary' => 'December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, ', 'content' => '<p style="margin-left: 10.35pt; text-align: justify;">December 7: United Nation has celebrated International Volunteer Day (IVD) on December 5. The global event's celebration in Nepal was marked by the UN organising a conference in the capital. Various issues including tackling the challenges in the areas of food security, youth engagement, social inclusion and private sector responsibility to development were discussed in the programme.</p> <p style="margin-left: 10.35pt; text-align: justify;">The IVD 2016 was celebrated with a theme "#Global Applause-Give volunteer's a hand!". In the programme, three volunteers were honoured for their diverse contributions in Nepal. They were chosen as winners and were awarded with cash prizes. These winners were chosen by a jury of celebrities, including singer Indira Joshi, member of the rock band 1974 AD Sanjay Shrestha, former Miss Nepal Malvika Subba , former Miss Nepal Earth Nagma Shrestha and Mega Bank CEO Anil Shah who themselves are voluntarily engaged in advocacy and awareness raising.</p> <p style="margin-left: 10.35pt; text-align: justify;">Issuing a press statement, the UN in Nepal said that the objective of the IVD celebration is to provide a platform for volunteers to improve collaboration and create further actions for tangible results. "By sharing individual volunteer stories as part of our Nepal IVD 2016 campaign “I volunteer-here is my story!” we want to share how a single person can make a difference and inspire others to take action," reads the statement. </p> <p style="margin-left: 9pt; text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4713', 'image' => '20161207023931_ivn.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4882', 'article_category_id' => '1', 'title' => 'Construction Sector Requires Proper Address from Government: FCAN', 'sub_title' => '', 'summary' => 'December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect em', 'content' => '<p style="text-align: justify;">December 7: Construction Entrepreneurs have expressed their dissatisfaction over snail's pace of nation building process due to the government's tactical problem. According to them, construction sector, the second largest employment generating sector of the country, having over 30 billion investment has not been properly addressed by the government. The construction sector provides almost 1 million direct and indirect employments. Based on the work experience gained in the sector, thousands of Nepalis are migrating to foreign countries for employment. Even though the government has not been able to either properly systemize the sector or to utilise the labour force in the process of nation building, they opined.</p> <p style="text-align: justify;">The construction entrepreneurs complained on being unrecognised as an industry besides completing 25 years of formation of Federation of Contractors' Associations of Nepal (FCAN), an umbrella organisation of construction entrepreneurs of the nation. They opined that the public's stale attitude toward construction entrepreneurs and the government's outdated policies have created various problems to the sector. "Although more than 12,000 entrepreneurs are engaged in the construction sector and despite being a helping hand in the nation building, the government has not given adequate attention toward making the sector secure," said Sharad Kumar Gauchan, President of FCAN.</p> <p style="text-align: justify;">"Lack of labour force, scarcity of local raw materials and conducts of government, local public and in some circumstances, construction entrepreneurs are the main problems of the sector," said Ram Sharan Dueja, General Secretary of FCAN. He added "We have problems as well; however, the Public Procurement Act and other few tactical positions are such that do not provide any benefit to the government and public."</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4712', 'image' => '20161207015241_FCAN.JPG', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4881', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Concludes: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 174: The 4th furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vic', 'content' => '<p style="text-align: justify;">December 174: The 4<sup>th</sup> furniture and furnishing expo 'Furnex Nepal 2016" organised at Bhrikutimandap by Nepal Furniture and Furnishing Association (NFFA) has concluded on December 6. The last day of the expo also saw a significant number of visitors. According to Sujil Shrestha, Vice-Presidentof NFFA and Conveyor of Expo Main Organiser Committee, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, had shown enthusiasm towards furniture and mattresses. On the last day of the expo, five lucky draw competitions were organized in which Diya Traders, Spaces Magazines, Dolphin Chair, Supreme Chair and Pallavi International sponsored various merchandise. </p> <p style="text-align: justify;">The expo showcased various furnishing products, furniture and home appliances. Moreover, the expo also provided Vastu Consultation. The expo aimed of bringing related businessmen, producers, sellers, buyers in the same platform in order to promote the local and imported products. Shaan Furniture Udhyog was the title sponsor while Yeti Flooring and Gem Flooring were the main sponsors of the expo.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4711', 'image' => '20161207115324_funex final.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4880', 'article_category_id' => '1', 'title' => 'Tourism Devt Bank Launches Swarnim Fixed Deposit Scheme', 'sub_title' => '', 'summary' => 'December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. ', 'content' => '<p style="text-align: justify;">December 7: Tourism Development Bank has launched a new product 'Swarnim Fixed Deposit' scheme. The bank informed that the scheme which will last for 199 days will be provided 9 per cent interest rate. According to the bank, customers can participate in the scheme by opening account with a minimum balance of Rs 500,000. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4710', 'image' => '20161207112712_tourims.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4879', 'article_category_id' => '1', 'title' => 'Sunrise Bank's BLB Service in Sarmujuwa', 'sub_title' => '', 'summary' => 'December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tues', 'content' => '<p style="text-align: justify;">December 7: Sunrise Bank has started a branch less banking (BLB) service at Sarmujuwa-8, Rautahat as per its objective of providing financial accessibility to the areas lacking convenient banking services. Dev Sharan Prasad Chaudhary, Former Attorney inaugurated the BLB service amid a program on Tuesday, December 7. The opening is the bank's 13<sup>th</sup> BLB service. In the program, Bipat Chaudhary, Branch Manager of Gaur highlighted the objectives of the opening of BLB services in the area. Moreover, he handed over Point of Sale Machine to business representative Khursaid Khan Pathan. </p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4709', 'image' => '20161207111312_sunrise.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4878', 'article_category_id' => '1', 'title' => 'NRB Approves Fewa's Bonus Share ', 'sub_title' => '', 'summary' => 'December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9th annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.', 'content' => '<p style="text-align:justify">December 7: Fewa Bikash Bank's proposal of distributing 20.60 per cent bonus share from the distributable income of the FY 2072/73 has been approved by Nepal Rastra Bank (NRB). The bank which is headquartered at Pokhara informed that the bonus share will be distributed after the final endorsement from its 9<sup>th</sup> annual general meeting. After distribution of the bonus shares, the bank's total paid-up capital will amounted to Rs 1.19 billion.</p> ', 'published' => true, 'created' => '2016-12-07', 'modified' => '2016-12-07', 'keywords' => '', 'description' => '', 'sortorder' => '4708', 'image' => '20161207104042_fewa.jpg', 'article_date' => '2016-12-07 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4877', 'article_category_id' => '1', 'title' => 'Construction of SAARC Handicraft Development Center Starts', 'sub_title' => '', 'summary' => 'December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.', 'content' => '<p style="text-align: justify;">December 6: The construction of SAARC Handicraft Development Center is scheduled to start on the current FY. The Center will be constructed on the initiation of Federation of Handicraft Associations of Nepal (FHAN) with the assistance of Ministry of Industry and SAARC Handicraft Development Trust.</p> <p style="text-align: justify;">According to the Rishi Raj Subedi, Deputy Director of FHAN, the government has provided three ropanies of land in the premises of Department of Small and Cottage Industries at Tripureshwor for the construction of the Center. “The Center is being constructed for the promotion and development of handicrafts of SAARC nations,” he informs. He further added that the Center will serve as SAARC level handicraft design center.</p> <p style="text-align: justify;">The government will be providing Rs 150 million for the Center being constructed under its multi-year plan. As per Subedi, the government has decided to bear the entire amount spent on the construction of the centre. “Under the current FY's budget, Rs 50 million has been approved as seed capital,” he informed. Subedi informed that the government will provide the remaining amount on next FY's budget while the building is under-construction. As per him, the SAARC secretariat will also lend a hand in the construction of the center. FHAN is planning to conclude the construction work within two years. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4707', 'image' => '20161206035755_handi craft.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4876', 'article_category_id' => '1', 'title' => '45 BFIs in Merger and Acquisition Process', 'sub_title' => '', 'summary' => 'December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger f', 'content' => '<p style="text-align: justify;">December 6: A total of 45 banks and financial institutions (BFIs) are in merger or acquisition process in a bid to attain Rs 8 billion paid-up capital by the end of next FY as per the direction of Nepal Rastra bank (NRB). As per the NRB's merger department, five BFIs have acquired final approval for merger from NRB. Apart from that, 13 BFIs have received agreement in principle (Letter of Intent) for merger and acquisition. Similarly, remaining 24 BFIs have, though, submitted request letters, have not started the process of agreement in principle.</p> <p style="text-align: justify;">The BFIs are falling for merger and acquisition in order to increase their paid-up capital. Most of the commercial banks are planning to issue bonus and right shares to increase capital, however, development banks and finance companies are stressing on mergers.</p> <p style="text-align: justify;">"Some BFIs are at the last stage of merger and acquisition and some are in the process of receiving approval," said Narayan Prasad Poudel, Spokesperson of NRB. Among the LOI recipients BFIs, Prime Commercial Bank is set to acquire Biratlaxmi Bikash Bank and Country Development Bank. Similarly, Global IME Bank has also submitted letter to NRB for an acquisition of Reliable Development Bank, however, the process of LOI has not started yet.</p> <p style="text-align: justify;">According to the central bank, BFIs normally finalise the merger or acquisition agreement within 1 week or 10 days after receiving LOI. Poudel informed that the BFIs seeking for merger must present the file before board of directors (BOD) minimum three times till the process ends and the BOD takes a decision regarding the merger process.</p> <p style="text-align: justify;">The merger and acquisition strategy aids for banking business promotion, capital increment opportunity and stability in financial sector, claims NRB.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4706', 'image' => '20161206024918_merger.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4875', 'article_category_id' => '1', 'title' => 'Shrestha Re-elected as Vice-President of CACCI', 'sub_title' => '', 'summary' => 'December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).', 'content' => '<p style="text-align: justify;">December 6: Pradip Kumar Shrestha, former President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has been re-elected as Vice-President of Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI).</p> <p style="text-align: justify;">The 30<sup>th</sup> conference and 50<sup>th</sup> anniversary of CACCI, a regional association composed of the national chambers or associations of commerce and industry in Asia and the Western Pacific has elected Shrestha as the vice-president for the next tenure. Shrestha is a General Manager of Panchakanya Group of companies.</p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4705', 'image' => '20161206123635_SHRESTHA.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4874', 'article_category_id' => '1', 'title' => 'NIC Asia and Yeti Bank Enter NCHL-IPS', 'sub_title' => '', 'summary' => 'December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provi', 'content' => '<p style="text-align: justify;">December 6: Two more banks have entered Interbank Electronic Payment System (NCHL-IPS) of Nepal Clearing House Limited (NCHL). The Clearing House made an agreement with Yeti Development Bank and NIC Asia Bank regarding NCHL-IPS on December 5. According to the agreement, NCHL will provide NCHL-IPS service for electronic payment system to the banks. </p> <p style="text-align: justify;"><br /> Neelesh Man Singh Pradhan, CEO of NCHL and Representatives of the banks signed the agreements on behalf of their respective organisations amid separate programs. Under the NCHL-IPS system, customers can withdraw and make the payments from any accounts of the member banks and financial institutions. Under this service, customers can make the payments of money, dividends, IPO refund, bill s, premium, social welfare allowance, pension/salary, remittance and any other types of payment services. </p> <p> </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4704', 'image' => '20161206114416_NCHL.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4873', 'article_category_id' => '1', 'title' => 'Himalayan Bank Grants Ambulance', 'sub_title' => '', 'summary' => 'December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.', 'content' => '<p style="text-align: justify;">December 6: Himalayan Bank has granted an ambulance to Namtaar of Makwanpur. With the ambulance in the service, the locals of Namtaar expected to receive medical services on time.</p> <p style="text-align: justify;">The bank handed over the ambulance to the community under an initiation of Ganesh Thapa, MP from Makwanpur. Samudayik Swastha Clinic operated by Prem Sewa Samaj in Makwanpur took the responsibility of operating the ambulance. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4703', 'image' => '20161206112540_himalayan bank.JPG', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4872', 'article_category_id' => '1', 'title' => 'Nabil Honours Employees', 'sub_title' => '', 'summary' => 'December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. ', 'content' => '<p style="text-align: justify;">December 6: Nabil Bank has honoured its employees who served the bank for more than 25 years. Sambhu Prasad Poudel, Chairman of the bank honoured the employees amid a recently held program by providing memoirs. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4702', 'image' => '20161206110911_nabil.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4871', 'article_category_id' => '1', 'title' => 'Siddhartha Bank appoints Jitu and Daman as Brand Ambassadors', 'sub_title' => '', 'summary' => 'December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an ag', 'content' => '<p style="text-align:justify">December 6: Siddhartha Bank has appointed comic actors Jitu Nepal and Daman Rupakheti as its Brand Ambassadors. The comic actor duo has been appointed as Brand Ambassador in order to promote the brand and various other services, informed the bank. Rameshwor Prasad Bastyal, Deputy General Manager of the bank and the actor duo signed an agreement regarding the matter on December 5. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4701', 'image' => '20161206104705_siddhartha.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4870', 'article_category_id' => '1', 'title' => 'Citizens Bank appoints Sanima Capital as Issue Manager', 'sub_title' => '', 'summary' => 'December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under', 'content' => '<p style="text-align:justify">December 6: Citizens Bank International has appointed Sanima Capital as its Issue Manager. Both institutions signed an agreement regarding the matter on December 5. Ganesh Raj Pokhrel, Deputy CEO of the bank and Manish Narayan Joshi, CEO of Sanima Capital signed the agreement on behalf of their respective organisation. Under the agreement, Sanima Capital will manage the10:2.5 right shares issuance endorsed by 10<sup>th</sup> AGM of the bank. After the issuance of the right shares, the bank's paid-up capital will reach Rs 6.92 billion. </p> ', 'published' => true, 'created' => '2016-12-06', 'modified' => '2016-12-06', 'keywords' => '', 'description' => '', 'sortorder' => '4700', 'image' => '20161206103739_citizens bank.jpg', 'article_date' => '2016-12-06 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4869', 'article_category_id' => '1', 'title' => 'Furnex Nepal 2016-Third Day: Successful in Promoting Brands', 'sub_title' => '', 'summary' => 'December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals', 'content' => '<p style="text-align: justify;">December 5: The 'Fourth Furnex Nepal 2016' which is being organized at Bhirkutimandap, Kathmandu has been attracting significant number of visitors. According to Kabindra Joshi, President of Nepal Furniture and Furnishing Association Nepal, the expo observed the participation of many engineers, interior designers, professionals and other general public. He said "The expo is being visited by significant numbers of visitors' beyond our expectation which has further motivated us. It has helped in furniture branding as well."</p> <p style="text-align: justify;">Most visitors, in the expo, have shown enthusiasm towards furniture and mattresses. The expo which will end on December 6 is also organising an Interior Design Competition (IDC-2016) among the students. </p> <p style="text-align: justify;">The expo is showcasing various furnishing products, furniture and home appliances. Moreover, the expo is also providing Vastu Consultation. The expo aims to bring related businessmen, producers, sellers, buyers in the same platform which will help to promote the local and imported products.</p> <p style="text-align: justify;">Joshi added that the customers will get information about furniture, designs and price in the expo. The title sponsor for the event is Shaan Furniture and the main sponsors are Yeti Flooring and Gem Flooring. </p> ', 'published' => true, 'created' => '2016-12-05', 'modified' => '2016-12-05', 'keywords' => '', 'description' => '', 'sortorder' => '4699', 'image' => '20161205014606_furnex.jpg', 'article_date' => '2016-12-05 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $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
