October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre.…
October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it.…
October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction…
October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion.…
October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the…
October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October…
October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month…
October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali"…
October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its…
October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition.…
October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling…
October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88…
October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the…
October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one…
October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October…
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' => '4641', 'article_category_id' => '1', 'title' => 'Mahindra Service Centre at Gaushala', 'sub_title' => '', 'summary' => 'October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. ', 'content' => '<p style="text-align: justify;">October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. </p> <p style="text-align: justify;"><br /> According to the statement, the Autoworks opened the service centre for the convenience of its customers. The service centre is equipped with latest technology with spare parts facilities. The company informed that the service centre will offer its services 24/7 through skilled manpower. </p> <p style="text-align: justify;"><br /> In case of breakdown of vehicles, the company will be providing on the spot repair facility along with pickup and drop off facilities for servicing of cars. Moreover, the company is providing free service camps on October 26, 27 and 28 on the occasion of the inauguration. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-25', 'modified' => '2016-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '4471', 'image' => '20161025110006_mahendra.jpg', 'article_date' => '2016-10-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4640', 'article_category_id' => '1', 'title' => 'NTA Neglecting Implementation of Frequency Policy ', 'sub_title' => '', 'summary' => 'October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. ', 'content' => '<p style="text-align: justify;">October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. </p> <p style="text-align: justify;"><br /> According to the amended policy, the Authority must set minimum tariff (base price) for 700 and 2600 band frequency within the three months of initiation of the policy. However, NTA has not being able to set the base price for 700 and 2600 band on given dateline.</p> <p style="text-align: justify;"><br /> As per the experts of information and technology, failure to conduct as per the issued policy is not taken as a good trend. The radio frequency policy (distribution and price related) of telecommunication services was amended by a committee under the Chairmanship of Minister of Information and communication on the basis of draft prepared by NTA. “The delay in policy implementation is barring new service provider from entering the sector and also holding up use of new technology,” says Manohar Kumar Bhattrai, one of the experts in information and communication sector.</p> <p style="text-align: justify;"><br /> Meanwhile, the Authority claims of doing ground work so that to set minimum tariff. Min Prasad Pokhrel, Spokesperson of NTA accepted that the delay has been occurred due to task procedure. “A committee has been formed to set minimum tariff,” he said adding, "The frequency will be distributed by setting the minimum tariff as soon as working committee submits the report.</p> <p style="text-align: justify;"><br /> Moreover, the Authority is asking to submit role out plan with the telecom service providers for the operation of long term evolution (LTE)-a 4G mobile communication standard and 4G in 1800 band. Nevertheless, NTA not being able to assure the sufficient frequency has left the service providers in dilemma. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4470', 'image' => '20161024052026_nta.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4639', 'article_category_id' => '1', 'title' => 'WFP Receives DFID Donation of £ 1.5 Million for Post-Quake Reconstruction ', 'sub_title' => '', 'summary' => 'October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work.', 'content' => '<p style="text-align: justify;">October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work. WFP will be using the donation in a support of the government efforts to rebuild critical infrastructure such as trails in remote areas affected by the quake in 2015.</p> <p style="text-align: justify;">According to the press statement issued by WFP, the contribution will be used to rehabilitate six trails [129 km]and complete engineer assessments on a further six trails [158 km]in the areas that were most severely affected by the quake. The new trails will be built to withstand seasonal landslides as well as future earthquakes. The project will directly or indirectly benefit approximately 55,175 people living in the mountainous areas of Dhading, Gorkha and Rasuwa.</p> <p style="text-align: justify;"> “Nearly 18 months ago, the devastating earthquakes destroyed trails and roads in large swathes of rural Nepal and the effects are still being felt today,” said Pippa Bradford, WFP Nepal Representative and Country Director. “WFP knows that access to trails helps communities reach markets and social services, and is inextricably linked to food security and economic development.”</p> <p style="text-align: justify;">“Investing in rural access, including with foot trails and bridges, is fundamental for the reconstruction effort in some of the most difficult to reach earthquake affected areas” said Gail Marzetti Head of DFID Nepal.</p> <p style="text-align: justify;">WFP has been active in trail reconstruction across its long history in Nepal, most recently in its response to the 2015 earthquakes, whenaround880 kilometresof trails were either reopened or rehabilitated providing access for130,000 people.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4469', 'image' => '20161024041142_wfp.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4638', 'article_category_id' => '1', 'title' => 'SCB Announces Capital Increment Plan ', 'sub_title' => '', 'summary' => 'October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. ', 'content' => '<p style="text-align: justify;">October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. </p> <p style="text-align: justify;"><br /> The bank is distributing 33.33 percent bonus share to its shareholders as per the decision of its 347th board of directors meeting subjected to approval from its annual general meeting and Nepal Rastra Bank. Upon the concerned authorities' approval, the paid-up capital of the bank will reach Rs 3.75 billion after the issuance of bonus share in the FY 2015/16. </p> <p style="text-align: justify;"><br /> The bank is also planning to float further public offering (FPO) of Rs 3.3 billion at premium to the public. The FPO proposal is also subjected to approval from its AGM, Nepal Rastra Bank, Securities Board of Nepal & Office of the Company Registrar. If the FPO gets float as per the company's plan, the paid-up capital of the bank will reach Rs 7.05 billion. </p> <p style="text-align: justify;"><br /> As per the capital plan of the bank, the bank will be issuing bonus share worth Rs 1billion in the FY 2016/17 making its total paid-up capital Rs 8.05 billion. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4468', 'image' => '20161024034235_scb.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 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' => '4641', 'article_category_id' => '1', 'title' => 'Mahindra Service Centre at Gaushala', 'sub_title' => '', 'summary' => 'October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. ', 'content' => '<p style="text-align: justify;">October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. </p> <p style="text-align: justify;"><br /> According to the statement, the Autoworks opened the service centre for the convenience of its customers. The service centre is equipped with latest technology with spare parts facilities. The company informed that the service centre will offer its services 24/7 through skilled manpower. </p> <p style="text-align: justify;"><br /> In case of breakdown of vehicles, the company will be providing on the spot repair facility along with pickup and drop off facilities for servicing of cars. Moreover, the company is providing free service camps on October 26, 27 and 28 on the occasion of the inauguration. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-25', 'modified' => '2016-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '4471', 'image' => '20161025110006_mahendra.jpg', 'article_date' => '2016-10-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4640', 'article_category_id' => '1', 'title' => 'NTA Neglecting Implementation of Frequency Policy ', 'sub_title' => '', 'summary' => 'October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. ', 'content' => '<p style="text-align: justify;">October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. </p> <p style="text-align: justify;"><br /> According to the amended policy, the Authority must set minimum tariff (base price) for 700 and 2600 band frequency within the three months of initiation of the policy. However, NTA has not being able to set the base price for 700 and 2600 band on given dateline.</p> <p style="text-align: justify;"><br /> As per the experts of information and technology, failure to conduct as per the issued policy is not taken as a good trend. The radio frequency policy (distribution and price related) of telecommunication services was amended by a committee under the Chairmanship of Minister of Information and communication on the basis of draft prepared by NTA. “The delay in policy implementation is barring new service provider from entering the sector and also holding up use of new technology,” says Manohar Kumar Bhattrai, one of the experts in information and communication sector.</p> <p style="text-align: justify;"><br /> Meanwhile, the Authority claims of doing ground work so that to set minimum tariff. Min Prasad Pokhrel, Spokesperson of NTA accepted that the delay has been occurred due to task procedure. “A committee has been formed to set minimum tariff,” he said adding, "The frequency will be distributed by setting the minimum tariff as soon as working committee submits the report.</p> <p style="text-align: justify;"><br /> Moreover, the Authority is asking to submit role out plan with the telecom service providers for the operation of long term evolution (LTE)-a 4G mobile communication standard and 4G in 1800 band. Nevertheless, NTA not being able to assure the sufficient frequency has left the service providers in dilemma. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4470', 'image' => '20161024052026_nta.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4639', 'article_category_id' => '1', 'title' => 'WFP Receives DFID Donation of £ 1.5 Million for Post-Quake Reconstruction ', 'sub_title' => '', 'summary' => 'October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work.', 'content' => '<p style="text-align: justify;">October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work. WFP will be using the donation in a support of the government efforts to rebuild critical infrastructure such as trails in remote areas affected by the quake in 2015.</p> <p style="text-align: justify;">According to the press statement issued by WFP, the contribution will be used to rehabilitate six trails [129 km]and complete engineer assessments on a further six trails [158 km]in the areas that were most severely affected by the quake. The new trails will be built to withstand seasonal landslides as well as future earthquakes. The project will directly or indirectly benefit approximately 55,175 people living in the mountainous areas of Dhading, Gorkha and Rasuwa.</p> <p style="text-align: justify;"> “Nearly 18 months ago, the devastating earthquakes destroyed trails and roads in large swathes of rural Nepal and the effects are still being felt today,” said Pippa Bradford, WFP Nepal Representative and Country Director. “WFP knows that access to trails helps communities reach markets and social services, and is inextricably linked to food security and economic development.”</p> <p style="text-align: justify;">“Investing in rural access, including with foot trails and bridges, is fundamental for the reconstruction effort in some of the most difficult to reach earthquake affected areas” said Gail Marzetti Head of DFID Nepal.</p> <p style="text-align: justify;">WFP has been active in trail reconstruction across its long history in Nepal, most recently in its response to the 2015 earthquakes, whenaround880 kilometresof trails were either reopened or rehabilitated providing access for130,000 people.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4469', 'image' => '20161024041142_wfp.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4638', 'article_category_id' => '1', 'title' => 'SCB Announces Capital Increment Plan ', 'sub_title' => '', 'summary' => 'October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. ', 'content' => '<p style="text-align: justify;">October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. </p> <p style="text-align: justify;"><br /> The bank is distributing 33.33 percent bonus share to its shareholders as per the decision of its 347th board of directors meeting subjected to approval from its annual general meeting and Nepal Rastra Bank. Upon the concerned authorities' approval, the paid-up capital of the bank will reach Rs 3.75 billion after the issuance of bonus share in the FY 2015/16. </p> <p style="text-align: justify;"><br /> The bank is also planning to float further public offering (FPO) of Rs 3.3 billion at premium to the public. The FPO proposal is also subjected to approval from its AGM, Nepal Rastra Bank, Securities Board of Nepal & Office of the Company Registrar. If the FPO gets float as per the company's plan, the paid-up capital of the bank will reach Rs 7.05 billion. </p> <p style="text-align: justify;"><br /> As per the capital plan of the bank, the bank will be issuing bonus share worth Rs 1billion in the FY 2016/17 making its total paid-up capital Rs 8.05 billion. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4468', 'image' => '20161024034235_scb.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 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' => '4641', 'article_category_id' => '1', 'title' => 'Mahindra Service Centre at Gaushala', 'sub_title' => '', 'summary' => 'October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. ', 'content' => '<p style="text-align: justify;">October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. </p> <p style="text-align: justify;"><br /> According to the statement, the Autoworks opened the service centre for the convenience of its customers. The service centre is equipped with latest technology with spare parts facilities. The company informed that the service centre will offer its services 24/7 through skilled manpower. </p> <p style="text-align: justify;"><br /> In case of breakdown of vehicles, the company will be providing on the spot repair facility along with pickup and drop off facilities for servicing of cars. Moreover, the company is providing free service camps on October 26, 27 and 28 on the occasion of the inauguration. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-25', 'modified' => '2016-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '4471', 'image' => '20161025110006_mahendra.jpg', 'article_date' => '2016-10-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4640', 'article_category_id' => '1', 'title' => 'NTA Neglecting Implementation of Frequency Policy ', 'sub_title' => '', 'summary' => 'October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. ', 'content' => '<p style="text-align: justify;">October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. </p> <p style="text-align: justify;"><br /> According to the amended policy, the Authority must set minimum tariff (base price) for 700 and 2600 band frequency within the three months of initiation of the policy. However, NTA has not being able to set the base price for 700 and 2600 band on given dateline.</p> <p style="text-align: justify;"><br /> As per the experts of information and technology, failure to conduct as per the issued policy is not taken as a good trend. The radio frequency policy (distribution and price related) of telecommunication services was amended by a committee under the Chairmanship of Minister of Information and communication on the basis of draft prepared by NTA. “The delay in policy implementation is barring new service provider from entering the sector and also holding up use of new technology,” says Manohar Kumar Bhattrai, one of the experts in information and communication sector.</p> <p style="text-align: justify;"><br /> Meanwhile, the Authority claims of doing ground work so that to set minimum tariff. Min Prasad Pokhrel, Spokesperson of NTA accepted that the delay has been occurred due to task procedure. “A committee has been formed to set minimum tariff,” he said adding, "The frequency will be distributed by setting the minimum tariff as soon as working committee submits the report.</p> <p style="text-align: justify;"><br /> Moreover, the Authority is asking to submit role out plan with the telecom service providers for the operation of long term evolution (LTE)-a 4G mobile communication standard and 4G in 1800 band. Nevertheless, NTA not being able to assure the sufficient frequency has left the service providers in dilemma. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4470', 'image' => '20161024052026_nta.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4639', 'article_category_id' => '1', 'title' => 'WFP Receives DFID Donation of £ 1.5 Million for Post-Quake Reconstruction ', 'sub_title' => '', 'summary' => 'October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work.', 'content' => '<p style="text-align: justify;">October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work. WFP will be using the donation in a support of the government efforts to rebuild critical infrastructure such as trails in remote areas affected by the quake in 2015.</p> <p style="text-align: justify;">According to the press statement issued by WFP, the contribution will be used to rehabilitate six trails [129 km]and complete engineer assessments on a further six trails [158 km]in the areas that were most severely affected by the quake. The new trails will be built to withstand seasonal landslides as well as future earthquakes. The project will directly or indirectly benefit approximately 55,175 people living in the mountainous areas of Dhading, Gorkha and Rasuwa.</p> <p style="text-align: justify;"> “Nearly 18 months ago, the devastating earthquakes destroyed trails and roads in large swathes of rural Nepal and the effects are still being felt today,” said Pippa Bradford, WFP Nepal Representative and Country Director. “WFP knows that access to trails helps communities reach markets and social services, and is inextricably linked to food security and economic development.”</p> <p style="text-align: justify;">“Investing in rural access, including with foot trails and bridges, is fundamental for the reconstruction effort in some of the most difficult to reach earthquake affected areas” said Gail Marzetti Head of DFID Nepal.</p> <p style="text-align: justify;">WFP has been active in trail reconstruction across its long history in Nepal, most recently in its response to the 2015 earthquakes, whenaround880 kilometresof trails were either reopened or rehabilitated providing access for130,000 people.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4469', 'image' => '20161024041142_wfp.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4638', 'article_category_id' => '1', 'title' => 'SCB Announces Capital Increment Plan ', 'sub_title' => '', 'summary' => 'October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. ', 'content' => '<p style="text-align: justify;">October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. </p> <p style="text-align: justify;"><br /> The bank is distributing 33.33 percent bonus share to its shareholders as per the decision of its 347th board of directors meeting subjected to approval from its annual general meeting and Nepal Rastra Bank. Upon the concerned authorities' approval, the paid-up capital of the bank will reach Rs 3.75 billion after the issuance of bonus share in the FY 2015/16. </p> <p style="text-align: justify;"><br /> The bank is also planning to float further public offering (FPO) of Rs 3.3 billion at premium to the public. The FPO proposal is also subjected to approval from its AGM, Nepal Rastra Bank, Securities Board of Nepal & Office of the Company Registrar. If the FPO gets float as per the company's plan, the paid-up capital of the bank will reach Rs 7.05 billion. </p> <p style="text-align: justify;"><br /> As per the capital plan of the bank, the bank will be issuing bonus share worth Rs 1billion in the FY 2016/17 making its total paid-up capital Rs 8.05 billion. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4468', 'image' => '20161024034235_scb.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 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' => '4641', 'article_category_id' => '1', 'title' => 'Mahindra Service Centre at Gaushala', 'sub_title' => '', 'summary' => 'October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. ', 'content' => '<p style="text-align: justify;">October 25: Balaju Autoworks, the authorised service centre of Mahindra vehicles for Nepal , has launched its authorised service centre 'Elite Automobiles Pvt Ltd' at Gaushala, Pingalsthan. Issuing a press statement, the company informed that Arjun Prasad Sharma, Executive Director of Agni Group inaugurated the service centre. </p> <p style="text-align: justify;"><br /> According to the statement, the Autoworks opened the service centre for the convenience of its customers. The service centre is equipped with latest technology with spare parts facilities. The company informed that the service centre will offer its services 24/7 through skilled manpower. </p> <p style="text-align: justify;"><br /> In case of breakdown of vehicles, the company will be providing on the spot repair facility along with pickup and drop off facilities for servicing of cars. Moreover, the company is providing free service camps on October 26, 27 and 28 on the occasion of the inauguration. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-25', 'modified' => '2016-10-25', 'keywords' => '', 'description' => '', 'sortorder' => '4471', 'image' => '20161025110006_mahendra.jpg', 'article_date' => '2016-10-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4640', 'article_category_id' => '1', 'title' => 'NTA Neglecting Implementation of Frequency Policy ', 'sub_title' => '', 'summary' => 'October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. ', 'content' => '<p style="text-align: justify;">October 24: Nepal Telecommunication Authority (NTA), the regulatory body of telecommunication sector, is apparently neglecting implementation of frequency policy. The Authority that was unable to implement the policy in three years after its announcement is still not concern about its implementation after the amendment. Recently, NEA amended the radio frequency policy three months ago for the first time since its formulation in 2012 as the regulatory body fails to implement it. </p> <p style="text-align: justify;"><br /> According to the amended policy, the Authority must set minimum tariff (base price) for 700 and 2600 band frequency within the three months of initiation of the policy. However, NTA has not being able to set the base price for 700 and 2600 band on given dateline.</p> <p style="text-align: justify;"><br /> As per the experts of information and technology, failure to conduct as per the issued policy is not taken as a good trend. The radio frequency policy (distribution and price related) of telecommunication services was amended by a committee under the Chairmanship of Minister of Information and communication on the basis of draft prepared by NTA. “The delay in policy implementation is barring new service provider from entering the sector and also holding up use of new technology,” says Manohar Kumar Bhattrai, one of the experts in information and communication sector.</p> <p style="text-align: justify;"><br /> Meanwhile, the Authority claims of doing ground work so that to set minimum tariff. Min Prasad Pokhrel, Spokesperson of NTA accepted that the delay has been occurred due to task procedure. “A committee has been formed to set minimum tariff,” he said adding, "The frequency will be distributed by setting the minimum tariff as soon as working committee submits the report.</p> <p style="text-align: justify;"><br /> Moreover, the Authority is asking to submit role out plan with the telecom service providers for the operation of long term evolution (LTE)-a 4G mobile communication standard and 4G in 1800 band. Nevertheless, NTA not being able to assure the sufficient frequency has left the service providers in dilemma. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4470', 'image' => '20161024052026_nta.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4639', 'article_category_id' => '1', 'title' => 'WFP Receives DFID Donation of £ 1.5 Million for Post-Quake Reconstruction ', 'sub_title' => '', 'summary' => 'October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work.', 'content' => '<p style="text-align: justify;">October 24: The United Nations World Food Programme (WFP) has welcomed a contribution of 1.5 million pound (GBP) from the United Kingdom’s Department for International Development (DFID) for post-earthquake reconstruction work. WFP will be using the donation in a support of the government efforts to rebuild critical infrastructure such as trails in remote areas affected by the quake in 2015.</p> <p style="text-align: justify;">According to the press statement issued by WFP, the contribution will be used to rehabilitate six trails [129 km]and complete engineer assessments on a further six trails [158 km]in the areas that were most severely affected by the quake. The new trails will be built to withstand seasonal landslides as well as future earthquakes. The project will directly or indirectly benefit approximately 55,175 people living in the mountainous areas of Dhading, Gorkha and Rasuwa.</p> <p style="text-align: justify;"> “Nearly 18 months ago, the devastating earthquakes destroyed trails and roads in large swathes of rural Nepal and the effects are still being felt today,” said Pippa Bradford, WFP Nepal Representative and Country Director. “WFP knows that access to trails helps communities reach markets and social services, and is inextricably linked to food security and economic development.”</p> <p style="text-align: justify;">“Investing in rural access, including with foot trails and bridges, is fundamental for the reconstruction effort in some of the most difficult to reach earthquake affected areas” said Gail Marzetti Head of DFID Nepal.</p> <p style="text-align: justify;">WFP has been active in trail reconstruction across its long history in Nepal, most recently in its response to the 2015 earthquakes, whenaround880 kilometresof trails were either reopened or rehabilitated providing access for130,000 people.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4469', 'image' => '20161024041142_wfp.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4638', 'article_category_id' => '1', 'title' => 'SCB Announces Capital Increment Plan ', 'sub_title' => '', 'summary' => 'October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. ', 'content' => '<p style="text-align: justify;">October 24: Standard Chartered Bank has recently announced its capital increment plan in a bid to meet the minimum paid-up capital of Rs 8 billion as directed by Nepal Rastra Bank. The bank currently has the paid-up capital of Rs 2.81 billion. </p> <p style="text-align: justify;"><br /> The bank is distributing 33.33 percent bonus share to its shareholders as per the decision of its 347th board of directors meeting subjected to approval from its annual general meeting and Nepal Rastra Bank. Upon the concerned authorities' approval, the paid-up capital of the bank will reach Rs 3.75 billion after the issuance of bonus share in the FY 2015/16. </p> <p style="text-align: justify;"><br /> The bank is also planning to float further public offering (FPO) of Rs 3.3 billion at premium to the public. The FPO proposal is also subjected to approval from its AGM, Nepal Rastra Bank, Securities Board of Nepal & Office of the Company Registrar. If the FPO gets float as per the company's plan, the paid-up capital of the bank will reach Rs 7.05 billion. </p> <p style="text-align: justify;"><br /> As per the capital plan of the bank, the bank will be issuing bonus share worth Rs 1billion in the FY 2016/17 making its total paid-up capital Rs 8.05 billion. </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4468', 'image' => '20161024034235_scb.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 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
