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Code Context
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			'id' => '4611',
			'article_category_id' => '1',
			'title' => 'Uncertanity Looms Over FNCCI SGM',
			'sub_title' => '',
			'summary' => 'October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM. ',
			'content' => '<p style="text-align:justify">October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM.&nbsp;</p>

<p style="text-align:justify">The bench of Patan High Court Judge Bhim Kumar Ojha issued the interim order to keep the process of SGM &lsquo;as it is&rsquo; till Wednesday. The court also ordered the opponents of the writ to submit a written reply within 15 days.</p>

<p style="text-align:justify">Former Senior Vice-President of FNCCI Bhaskar Raj Karnikar and Executive Member Govinda Raj Ghimire filed the writ mentioning that the amendment of statute is not possible through the SGM.&nbsp; FNCCI, Executive Committee, President Pashupati Murarka, Deputy Director General Meena Shrestha and District Administration Office, Kathmandu were mentioned as opponents in the writ.&nbsp;</p>

<p style="text-align:justify">The petitioners argued that the Executive Committee has called out the SGM illegally ignoring the constitutional right and statute of FNCCI. Similarly, they also mentioned SGM as a conspiracy in order to automatically promote Senior Vice-President to President ignoring the open competition in the name of statute amendment. Senior advocate Shambhu Thapa along with advocates Tika Ram Bhattarai and Gopal Dutt Pandey argued on behalf of the writ petitioners.</p>

<p style="text-align:justify">The court has called both parties to understand the issue of writ petition on Wednesday.&nbsp; The court may issue order to stop or continue the SGM on Wednesday after hearing the arguments from both sides. If the SGM is stopped, the amendment of FNCCCI statute will be obstructed and the next general meeting will have to elect the president and the executive committee.</p>

<p style="text-align:justify">Meanwhile, if the statute gets amended, Vice-President Bhawani Rana will easily become the President of FNCCI and the race of Bhaskar Rajkarnikar for the post of President will end with the amendment.</p>

<p style="text-align:justify">The executive committee called the SGM to amend the statute in order to create the new structure of the organisation as per the federal model of the country and implement a system where the senior vice-president will automatically become the president. However, the writ petitioner Rajkarnikar argues that the statute amendment could be done only through the AGM of the organisation. &quot;The statute amendment process itself is invalid,&quot; he says, adding, &quot;The amendment attempts to serve the interest of a particular person.&quot;</p>

<p style="text-align:justify">President Pashupati Murarka, meanwhile, says that the amendment process is not being carried out in favour of a particular individual. However, former presidents and officials of FNCCI are divided over amendment of statute before the AGM.</p>

<p style="text-align:justify">Former presidents Mahesh Lal Pradhan, Suraj Vaidya, Anand Raj Mulmi and Binod Bahadur Shrestha have openly objected the statute amendment. Meanwhile, Kush Kumar Joshi has maintained his silence on the issue, whereas other former Presidents are in favour of the amendment.</p>

<p style="text-align:justify">The existing statute of the FNCCI was formulated on 1993. Later, the statute was amended on 2005 through a SGM. &quot;The amendment of 2005 has clearly established the mechanism for the amendment of the statute. It should be done through the AGM not SGM,&quot; he says.</p>

<p style="text-align:justify">Nonetheless, Murarka refutes the claims of Rajkarnikar. &ldquo;Some former presidents who are not able to get desired roles are objecting the process,&rdquo; he says. &quot;Amendment of statute is required in a bid to stop interests of individuals and group politics in the FNCCI.&rdquo;</p>

<p style="text-align:justify">&nbsp;The opposing side has been blaming that amendment is being carried out just to stop Rajkarnikar from becoming the President.</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'id' => '4610',
			'article_category_id' => '1',
			'title' => 'Om Devt Bank in 10th Year',
			'sub_title' => '',
			'summary' => 'October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On th',
			'content' => '<p style="text-align: justify;">October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On the occasion, the bank organised clean-up program at the premises of Bindabasini Temple, Pokhara along with blood donation program. A total of 51 units of blood were collected from the blood donation program. Previously, the bank had also donated Rs 1.5 million in order to construct building for the operation of ambulance services. &nbsp;</p>

<p style="text-align: justify;"><br />
Moreover, Om Development Bank has recently finalised principle agreement with Manaslu Development Bank for merger. After distribution of bonus shares of both financial institutions and merger, the combined paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4440',
			'image' => '20161019112321_om.jpg',
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		'Article' => array(
			'id' => '4609',
			'article_category_id' => '1',
			'title' => 'Him Electronics Hands Over Samsung SUHD TV to First Pre-Booker ',
			'sub_title' => '',
			'summary' => 'October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time. ',
			'content' => '<p style="text-align: justify;">October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time.&nbsp;</p>

<p style="text-align: justify;"><br />
The SUHD TV was handed over to Shah by Seema Golchha, Director of Him Electronics in a special ceremony organized at Samsung Digital Plaza, Durbarmarg. Shah pre-booked the 55 inch SUHD TV between July 14 and September 15 and received a Samsung Galaxy S7 and Samsung Gear VR (Worth of Rs 88,900) as a gift for pre- booking of Samsung SUHD TV.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4439',
			'image' => '20161019110001_sust.jpg',
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		'Article' => array(
			'id' => '4608',
			'article_category_id' => '1',
			'title' => 'SEBON Directs Reliable Devt Bank to issue Right Shares ',
			'sub_title' => '',
			'summary' => 'October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank. ',
			'content' => '<p>October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank.&nbsp;</p>

<p><br />
Earlier, the 10th annual general meeting of Reliable Development bank had decided to issue 1:1 right shares to its existing shareholders. However, the bank has signed a memorandum of understanding (MoU) with Global IME Bank to be acquired without issuing right shares to its existing shareholders. SEBON, being a regulator of the market, has taken a keen interest on the subject matter and has directed the Reliable Devt to issue right shares prior to the acquisition.</p>

<p><br />
According to the SEBON, the decision taken by the AGM on issuance of right shares was price sensitive. Thus, failure to implement the decision will be against the investors&#39; interest.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4438',
			'image' => '20161018015610_sebon.JPG',
			'article_date' => '2016-10-18 00:00:00',
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		'Article' => array(
			'id' => '4607',
			'article_category_id' => '1',
			'title' => 'Tea Export Rises by 20 Percent',
			'sub_title' => '',
			'summary' => ' October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16. ',
			'content' => '<p>October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16.&nbsp;</p>

<p><br />
In FY 2014/15, tea export totaled Rs 2.1 billion which increased by Rs 2.40 billion in FY 2015/16. &nbsp;As per the TEPC, last FY saw export of 13,289 metric tonnes of tea against 11,142 metric tonnes in FY 2014/15 marking a growth of 19.26 percent. The data indicates that the rise in demand has supported the increment in export despite the stability in average price of tea in the international market.&nbsp;</p>

<p><br />
However, the export of tea has slowed down in FY 2014/15 compared to FY 2013/14 as per the TEPC data. In FY2014/15, 11,396 metric tonnes of tea amounting Rs 2.1 billion was exported which is less in terms of quantity and amount. &ldquo;The last year&rsquo;s earthquake affected the production of tea in spite of the demand in the international market,&rdquo; says Gaurav Luitel, Planning Officer of the National Tea and Coffee Development Board. According to him, the non-tariff barrier imposed by different countries sometimes creates problem in the export of the Nepali tea. &nbsp; &nbsp;</p>

<p><br />
As per the Board, CTC tea comprises of 80 percent of the tea production in Nepal and orthodox tea shares the rest 20 percent. The Board views that the export is very less in terms of international market demand. &ldquo;Nepali tea is very popular in international market,&rdquo; mentions Luitel, adding, &ldquo;If we can make improvements in both production and quality, we can export tea as per the demand.&rdquo;</p>

<p><br />
Tea produced in Nepal is being exported to markets including India, UK, Germany, Switzerland, Belgium, China, France, Netherland, Canada and other countries. India is the single biggest market for Nepali tea. According to official statistics, 90 percent of tea produced in the country is exported to India while 2.8 percent is shipped to Germany and remaining to other countries. &nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4437',
			'image' => '20161018015316_tea.JPG',
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			'id' => '4606',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Devt Bank Bags 'Best Enterprises' Award',
			'sub_title' => '',
			'summary' => 'October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded 'Best Enterprises' award by Britain's 'Europe Business Assembly' for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7. ',
			'content' => '<p style="text-align:justify">October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded &#39;Best Enterprises&#39; award by Britain&#39;s &#39;Europe Business Assembly&#39; for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, Ramesh Kumar Bhattarai, Cheif Executive Officer of the bank was also awarded &#39;Manager of the year 2016&#39;. &nbsp;According to the statement, the award ceremony was participated by various companies of more than 36 countries of Asia, Europe, Africa and Middle East.&nbsp;</p>

<p style="text-align:justify"><br />
Mahalaxmi Development Bank, the merged entity of Malika Development Bank, Siddhartha Finance and Mahalaxmi Finance, is a national level development bank. The bank started its joint transaction after merger from September 4, 2016. After the merger, the bank has paid-up capital of Rs 1.156 billion, deposit of Rs 11.55 billion and loan extension of Rs 9.36 billion. Similarly, the number of customers of the bank has totalled 209,000. The bank is providing financial services through 41 branches to its customers.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4436',
			'image' => '20161018010226_mahalaxmi devt.jpg',
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		'Article' => array(
			'id' => '4605',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Boom and Vibor Society Devt Bank',
			'sub_title' => '',
			'summary' => 'October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17. ',
			'content' => '<p style="text-align: justify;">October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17.&nbsp;</p>

<p style="text-align: justify;"><br />
Dhirendra Pant, Managing Director of Boom Remittance and Jhalak Prasad Khanal, Chief Executive Officer of Vibor Society signed the agreement paper on behalf of their respective organisation.</p>

<p style="text-align: justify;">&nbsp;<br />
As per the agreement, remittances send from Nepalis working abroad through Boom Remittance can be received from 42 branches and 1 extension counter of Vibor Society Development Bank. Along with it, the agreement also covers internal remittance payment services through Boom Remit Software.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4435',
			'image' => '20161018122530_boom and vibor.jpg',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '4604',
			'article_category_id' => '1',
			'title' => 'CBIL Capital Appoints Independent Directors',
			'sub_title' => '',
			'summary' => 'October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure. ',
			'content' => '<p style="text-align:justify">October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure.&nbsp;</p>

<p style="text-align:justify"><br />
CBIL Capital is the subsidiary company of Citizens Bank International. The capital has acquired license from Securities Board of Nepal (SEBON) in order to deal with tasks directly related with investors. The task performed by CBIL Capital includes issuance of securities, issue management, under writing, portfolio management, D-mat account opening, shares dematerialisation and mutual fund promotion.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4434',
			'image' => '20161018114737_cbil capital.jpg',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '4603',
			'article_category_id' => '1',
			'title' => 'Everest Bank's Free Health Camp on 22nd Anniversary',
			'sub_title' => '',
			'summary' => 'October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, t',
			'content' => '<p style="text-align: justify;">October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, the bank informed that the free health camp delivered health check-up services including ENT, Dental, Ophthalmology and Orthopaedic to 250 service seekers. According to the bank, it organised the health camp in order to provide information regarding cure of various diseases in its early stage. &nbsp;The bank informed of organising the health camp under its corporate social responsibility. The bank is providing financial services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 86 ATMs.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4433',
			'image' => '20161018110225_everest bank.jpg',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '4602',
			'article_category_id' => '1',
			'title' => 'Joint Operation of Civil Bank and ILFCO Starts',
			'sub_title' => '',
			'summary' => 'October 17:  Civil Bank, an ‘A’ Class commercial bank and International Leasing & Finance Company Limited (ILFCO), a ‘C’ Class financial institution are starting their joint operation from today, October 17 after completing their merger process.  ',
			'content' => '<p>October 17: &nbsp;Civil Bank, an &lsquo;A&rsquo; Class commercial bank and International Leasing &amp; Finance Company Limited (ILFCO), a &lsquo;C&rsquo; Class financial institution are starting their joint operation from today, October 17 after completing their merger process. &nbsp;</p>

<p>Issuing a press statement, the bank informed that the name of the newly formed merged entity will be Civil Bank with 51 branch offices across the country. Moreover, the current composition of the board of directors and senior management of Civil Bank will remain unchanged.</p>

<p>&quot;The merger has enhanced the credit expansion capacity and financial strength of the bank and has enabled the bank to expand its business and invest in infrastructure and other industrial projects,&quot; said Kishor Maharjan, CEO of Civil Bank.</p>

<p>Civil Bank has also signed a memorandum of understanding (MoU) for acquisition of Unique Finance and Hama Merchant &amp; Finance in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the Nepal Rastra Bank (NRB) directive. Unique Finance has a paid-up capital of Rs 230 million, whereas Hama Merchant has a paid-up capital of Rs 220 million. After these proposed acquisitions, Civil Bank&rsquo;s paid-up capital will reach Rs 5.54 billion.</p>

<p>&nbsp;&ldquo;The bank will issue bonus and rights shares and also continue to merge with or acquire other institutions simultaneously to meet the minimum paid-up requirement of Rs8 billion,&rdquo; reads the statement.</p>
',
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			'image' => '20161017120045_civil.JPG',
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		'Article' => array(
			'id' => '4601',
			'article_category_id' => '1',
			'title' => 'Merger between Om Devt and Manaslu Bikash Bank',
			'sub_title' => '',
			'summary' => 'October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla,',
			'content' => '<p style="text-align: justify;">October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla, officials of Om Devt Bank will lead the merged entity as Chairman, CEO and Deputy CEO. Likewise, Durga Ram Puri, Acting General Manager of Manaslu will serve the merged entity as Assistant General Manager.</p>

<p style="text-align: justify;">After the merger, the paid-up capital, deposit collection and loan extensions of the bank will total Rs 1.33 billion, Rs 13.98 billion and Rs 12.61 billion respectively. The branch network of the bank, after merger, will reach 36. The existing headquarter of Om Development Bank in Pokhara will serve as the headquarter of the merged entity as well.</p>

<p style="text-align: justify;">Recently, the board of directors meeting of Om Development Bank and Manaslu Bikash Bank have decided to distribute 29.20 percent and 18.95 percent bonus shares respectively to its shareholders. After the approval of bonus shares from Nepal Rastra Bank and annual general meeting of the banks, the paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4431',
			'image' => '20161017105949_om and manaslu.jpg',
			'article_date' => '2016-10-17 00:00:00',
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			'breaking_news' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4600',
			'article_category_id' => '1',
			'title' => 'Century Commercial Bank to acquire Arniko Devt Bank',
			'sub_title' => '',
			'summary' => 'October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February. ',
			'content' => '<p style="text-align: justify;">October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February.&nbsp;</p>

<p style="text-align: justify;"><br />
Presently, Century Bank has paid-up capital of Rs 2.84 billion. The bank has also issued right shares of Rs 850 million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4430',
			'image' => '20161017102039_century bank.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '4599',
			'article_category_id' => '1',
			'title' => 'Ncell Bags Frost & Sullivan Nepal Mobile Service Provider 2016',
			'sub_title' => '',
			'summary' => 'October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost & Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost & Sullivan.',
			'content' => '<p style="text-align:justify">October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost &amp; Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost &amp; Sullivan. Moreover, the award is a subset of its prestigious Asia Pacific Best Practices Awards which honours best-in-class companies within a multitude of industries in Asia Pacific, including the Automotive, Energy, Building &amp; Environment, Healthcare and Information Communication Technologies sectors in Asia Pacific.</p>

<p style="text-align:justify">According to the statement, the award recipients were evaluated against a set of stringent criteria, based on a variety of actual market performance indicators which include total subscribers, mobile service revenue, blended Average Revenue per User (&ldquo;ARPU&rdquo;) and ARPU growth and service or business model innovation.</p>

<p style="text-align:justify">&ldquo;We are humbled that our efforts to focus on our customers and fulfil their dynamic connectivity needs have been recognized internationally once again. Frost &amp; Sullivan undertakes a rigorous evaluation process for this award and the achievement is testament of Ncell&rsquo;s exemplary overall growth and best-in-class performance; and a culmination of the hard work and dedication of all our employees in working towards the socio-economic prosperity of Nepal,&quot; said Simon Perkins, &nbsp;Managing Director of Ncell.</p>

<p style="text-align:justify">&ldquo;Heartened by the consecutive recognition, Ncell remains steadfast in implementing significant network enhancements and service innovations for more seamless connectivity across Nepal. We are determined to continue delivering exceptional and sustainable service to the people of Nepal,&quot; Perkins added.</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4429',
			'image' => '20161017100518_ncell.jpg',
			'article_date' => '2016-10-17 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '4598',
			'article_category_id' => '1',
			'title' => 'Free Viber Zones in Nepal',
			'sub_title' => '',
			'summary' => 'October 16:  Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Café de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. ',
			'content' => '<p>October 16: Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Caf&eacute; de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. According to the company, Free Viber Zone provides unlimited free internet service powered by Subisu where users can call, text, video call for free using&nbsp;Viber. &ldquo;Users can log on to Free Viber Zone wifi in these spots and can use the service as much as they want,&rdquo; Viber said in a press statement.&nbsp;</p>

<p>&quot;We are introducing Free Viber Zone in Nepal as Nepal has proved to be a promising market for Viber. With the ongoing festive season in Nepal, free Viber Zone service will provide tremendous value to the users. They can celebrate the festive season by communicating with their relatives and friends for free through free Viber Zone service. Viber has also launched &lsquo;Dashain sticker pack&rsquo; that is available to all Nepali users for free.&quot; said Anubhav Nayyar, Regional Head-Viber South Asia.</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-16',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4428',
			'image' => '20161016042519_IMG_0509.jpg',
			'article_date' => '2016-10-16 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '4597',
			'article_category_id' => '1',
			'title' => 'NRNA Campaign Targets to bring 1.6 million Tourists in Nepal ',
			'sub_title' => '',
			'summary' => 'October 7: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. ',
			'content' => '<p>October 07: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. In a program organised by National Tourism Promotion Committee (NTPC) of NRNA, the plans were unveiled to persuade foreigners in the abovementioned number to visit Nepal number till the end of 2017. The organiser of the campaign has set an objective as per which a NRN should persuade his/her three friends to visit Nepal.</p>

<p>&ldquo;Having network of NRNA in 75 countries around the world, we can contribute significantly for the promotion of Nepali tourism,&rdquo; said Sesh Ghale, President of NRN. He further added, &ldquo;NRNA is conducting different programs related to tourism including &lsquo;Atithi Devo Bhawa&rsquo; on the 75 countries in cooperation with Nepal Government and Nepal Tourism Board (NTB).&rdquo;</p>

<p>Stating that more than 5 million Nepalis are residing abroad at present, Bhawan Bhatta, Vice-President of the NRNA and Chairman of NTPC expressed the commitment of diasporas for the major contribution to promote Nepal globally.</p>

<p style="text-align:justify">Meanwhile, Shankar Prasad Adhikari, Secretary of Ministry of Culture, Tourism and Civil Aviation said the government will cooperate with NRNA for the promotion of tourism. Similarly, Deepak Raj Joshi, CEO of NTB mentioned that the Board will cooperate with the association for the promotion of Nepali tourism.&nbsp;</p>
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			'image' => '20161007030827_NRNA.jpg',
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4611',
			'article_category_id' => '1',
			'title' => 'Uncertanity Looms Over FNCCI SGM',
			'sub_title' => '',
			'summary' => 'October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM. ',
			'content' => '<p style="text-align:justify">October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM.&nbsp;</p>

<p style="text-align:justify">The bench of Patan High Court Judge Bhim Kumar Ojha issued the interim order to keep the process of SGM &lsquo;as it is&rsquo; till Wednesday. The court also ordered the opponents of the writ to submit a written reply within 15 days.</p>

<p style="text-align:justify">Former Senior Vice-President of FNCCI Bhaskar Raj Karnikar and Executive Member Govinda Raj Ghimire filed the writ mentioning that the amendment of statute is not possible through the SGM.&nbsp; FNCCI, Executive Committee, President Pashupati Murarka, Deputy Director General Meena Shrestha and District Administration Office, Kathmandu were mentioned as opponents in the writ.&nbsp;</p>

<p style="text-align:justify">The petitioners argued that the Executive Committee has called out the SGM illegally ignoring the constitutional right and statute of FNCCI. Similarly, they also mentioned SGM as a conspiracy in order to automatically promote Senior Vice-President to President ignoring the open competition in the name of statute amendment. Senior advocate Shambhu Thapa along with advocates Tika Ram Bhattarai and Gopal Dutt Pandey argued on behalf of the writ petitioners.</p>

<p style="text-align:justify">The court has called both parties to understand the issue of writ petition on Wednesday.&nbsp; The court may issue order to stop or continue the SGM on Wednesday after hearing the arguments from both sides. If the SGM is stopped, the amendment of FNCCCI statute will be obstructed and the next general meeting will have to elect the president and the executive committee.</p>

<p style="text-align:justify">Meanwhile, if the statute gets amended, Vice-President Bhawani Rana will easily become the President of FNCCI and the race of Bhaskar Rajkarnikar for the post of President will end with the amendment.</p>

<p style="text-align:justify">The executive committee called the SGM to amend the statute in order to create the new structure of the organisation as per the federal model of the country and implement a system where the senior vice-president will automatically become the president. However, the writ petitioner Rajkarnikar argues that the statute amendment could be done only through the AGM of the organisation. &quot;The statute amendment process itself is invalid,&quot; he says, adding, &quot;The amendment attempts to serve the interest of a particular person.&quot;</p>

<p style="text-align:justify">President Pashupati Murarka, meanwhile, says that the amendment process is not being carried out in favour of a particular individual. However, former presidents and officials of FNCCI are divided over amendment of statute before the AGM.</p>

<p style="text-align:justify">Former presidents Mahesh Lal Pradhan, Suraj Vaidya, Anand Raj Mulmi and Binod Bahadur Shrestha have openly objected the statute amendment. Meanwhile, Kush Kumar Joshi has maintained his silence on the issue, whereas other former Presidents are in favour of the amendment.</p>

<p style="text-align:justify">The existing statute of the FNCCI was formulated on 1993. Later, the statute was amended on 2005 through a SGM. &quot;The amendment of 2005 has clearly established the mechanism for the amendment of the statute. It should be done through the AGM not SGM,&quot; he says.</p>

<p style="text-align:justify">Nonetheless, Murarka refutes the claims of Rajkarnikar. &ldquo;Some former presidents who are not able to get desired roles are objecting the process,&rdquo; he says. &quot;Amendment of statute is required in a bid to stop interests of individuals and group politics in the FNCCI.&rdquo;</p>

<p style="text-align:justify">&nbsp;The opposing side has been blaming that amendment is being carried out just to stop Rajkarnikar from becoming the President.</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4441',
			'image' => '20161019030522_FNCCI.jpg',
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	(int) 1 => array(
		'Article' => array(
			'id' => '4610',
			'article_category_id' => '1',
			'title' => 'Om Devt Bank in 10th Year',
			'sub_title' => '',
			'summary' => 'October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On th',
			'content' => '<p style="text-align: justify;">October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On the occasion, the bank organised clean-up program at the premises of Bindabasini Temple, Pokhara along with blood donation program. A total of 51 units of blood were collected from the blood donation program. Previously, the bank had also donated Rs 1.5 million in order to construct building for the operation of ambulance services. &nbsp;</p>

<p style="text-align: justify;"><br />
Moreover, Om Development Bank has recently finalised principle agreement with Manaslu Development Bank for merger. After distribution of bonus shares of both financial institutions and merger, the combined paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4440',
			'image' => '20161019112321_om.jpg',
			'article_date' => '2016-10-19 00:00:00',
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			'id' => '4609',
			'article_category_id' => '1',
			'title' => 'Him Electronics Hands Over Samsung SUHD TV to First Pre-Booker ',
			'sub_title' => '',
			'summary' => 'October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time. ',
			'content' => '<p style="text-align: justify;">October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time.&nbsp;</p>

<p style="text-align: justify;"><br />
The SUHD TV was handed over to Shah by Seema Golchha, Director of Him Electronics in a special ceremony organized at Samsung Digital Plaza, Durbarmarg. Shah pre-booked the 55 inch SUHD TV between July 14 and September 15 and received a Samsung Galaxy S7 and Samsung Gear VR (Worth of Rs 88,900) as a gift for pre- booking of Samsung SUHD TV.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4439',
			'image' => '20161019110001_sust.jpg',
			'article_date' => '2016-10-19 00:00:00',
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		'Article' => array(
			'id' => '4608',
			'article_category_id' => '1',
			'title' => 'SEBON Directs Reliable Devt Bank to issue Right Shares ',
			'sub_title' => '',
			'summary' => 'October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank. ',
			'content' => '<p>October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank.&nbsp;</p>

<p><br />
Earlier, the 10th annual general meeting of Reliable Development bank had decided to issue 1:1 right shares to its existing shareholders. However, the bank has signed a memorandum of understanding (MoU) with Global IME Bank to be acquired without issuing right shares to its existing shareholders. SEBON, being a regulator of the market, has taken a keen interest on the subject matter and has directed the Reliable Devt to issue right shares prior to the acquisition.</p>

<p><br />
According to the SEBON, the decision taken by the AGM on issuance of right shares was price sensitive. Thus, failure to implement the decision will be against the investors&#39; interest.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4438',
			'image' => '20161018015610_sebon.JPG',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '4607',
			'article_category_id' => '1',
			'title' => 'Tea Export Rises by 20 Percent',
			'sub_title' => '',
			'summary' => ' October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16. ',
			'content' => '<p>October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16.&nbsp;</p>

<p><br />
In FY 2014/15, tea export totaled Rs 2.1 billion which increased by Rs 2.40 billion in FY 2015/16. &nbsp;As per the TEPC, last FY saw export of 13,289 metric tonnes of tea against 11,142 metric tonnes in FY 2014/15 marking a growth of 19.26 percent. The data indicates that the rise in demand has supported the increment in export despite the stability in average price of tea in the international market.&nbsp;</p>

<p><br />
However, the export of tea has slowed down in FY 2014/15 compared to FY 2013/14 as per the TEPC data. In FY2014/15, 11,396 metric tonnes of tea amounting Rs 2.1 billion was exported which is less in terms of quantity and amount. &ldquo;The last year&rsquo;s earthquake affected the production of tea in spite of the demand in the international market,&rdquo; says Gaurav Luitel, Planning Officer of the National Tea and Coffee Development Board. According to him, the non-tariff barrier imposed by different countries sometimes creates problem in the export of the Nepali tea. &nbsp; &nbsp;</p>

<p><br />
As per the Board, CTC tea comprises of 80 percent of the tea production in Nepal and orthodox tea shares the rest 20 percent. The Board views that the export is very less in terms of international market demand. &ldquo;Nepali tea is very popular in international market,&rdquo; mentions Luitel, adding, &ldquo;If we can make improvements in both production and quality, we can export tea as per the demand.&rdquo;</p>

<p><br />
Tea produced in Nepal is being exported to markets including India, UK, Germany, Switzerland, Belgium, China, France, Netherland, Canada and other countries. India is the single biggest market for Nepali tea. According to official statistics, 90 percent of tea produced in the country is exported to India while 2.8 percent is shipped to Germany and remaining to other countries. &nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4437',
			'image' => '20161018015316_tea.JPG',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '4606',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Devt Bank Bags 'Best Enterprises' Award',
			'sub_title' => '',
			'summary' => 'October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded 'Best Enterprises' award by Britain's 'Europe Business Assembly' for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7. ',
			'content' => '<p style="text-align:justify">October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded &#39;Best Enterprises&#39; award by Britain&#39;s &#39;Europe Business Assembly&#39; for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, Ramesh Kumar Bhattarai, Cheif Executive Officer of the bank was also awarded &#39;Manager of the year 2016&#39;. &nbsp;According to the statement, the award ceremony was participated by various companies of more than 36 countries of Asia, Europe, Africa and Middle East.&nbsp;</p>

<p style="text-align:justify"><br />
Mahalaxmi Development Bank, the merged entity of Malika Development Bank, Siddhartha Finance and Mahalaxmi Finance, is a national level development bank. The bank started its joint transaction after merger from September 4, 2016. After the merger, the bank has paid-up capital of Rs 1.156 billion, deposit of Rs 11.55 billion and loan extension of Rs 9.36 billion. Similarly, the number of customers of the bank has totalled 209,000. The bank is providing financial services through 41 branches to its customers.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
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			'sortorder' => '4436',
			'image' => '20161018010226_mahalaxmi devt.jpg',
			'article_date' => '2016-10-18 00:00:00',
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		'Article' => array(
			'id' => '4605',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Boom and Vibor Society Devt Bank',
			'sub_title' => '',
			'summary' => 'October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17. ',
			'content' => '<p style="text-align: justify;">October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17.&nbsp;</p>

<p style="text-align: justify;"><br />
Dhirendra Pant, Managing Director of Boom Remittance and Jhalak Prasad Khanal, Chief Executive Officer of Vibor Society signed the agreement paper on behalf of their respective organisation.</p>

<p style="text-align: justify;">&nbsp;<br />
As per the agreement, remittances send from Nepalis working abroad through Boom Remittance can be received from 42 branches and 1 extension counter of Vibor Society Development Bank. Along with it, the agreement also covers internal remittance payment services through Boom Remit Software.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4435',
			'image' => '20161018122530_boom and vibor.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '4604',
			'article_category_id' => '1',
			'title' => 'CBIL Capital Appoints Independent Directors',
			'sub_title' => '',
			'summary' => 'October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure. ',
			'content' => '<p style="text-align:justify">October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure.&nbsp;</p>

<p style="text-align:justify"><br />
CBIL Capital is the subsidiary company of Citizens Bank International. The capital has acquired license from Securities Board of Nepal (SEBON) in order to deal with tasks directly related with investors. The task performed by CBIL Capital includes issuance of securities, issue management, under writing, portfolio management, D-mat account opening, shares dematerialisation and mutual fund promotion.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4434',
			'image' => '20161018114737_cbil capital.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 8 => array(
		'Article' => array(
			'id' => '4603',
			'article_category_id' => '1',
			'title' => 'Everest Bank's Free Health Camp on 22nd Anniversary',
			'sub_title' => '',
			'summary' => 'October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, t',
			'content' => '<p style="text-align: justify;">October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, the bank informed that the free health camp delivered health check-up services including ENT, Dental, Ophthalmology and Orthopaedic to 250 service seekers. According to the bank, it organised the health camp in order to provide information regarding cure of various diseases in its early stage. &nbsp;The bank informed of organising the health camp under its corporate social responsibility. The bank is providing financial services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 86 ATMs.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4433',
			'image' => '20161018110225_everest bank.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4602',
			'article_category_id' => '1',
			'title' => 'Joint Operation of Civil Bank and ILFCO Starts',
			'sub_title' => '',
			'summary' => 'October 17:  Civil Bank, an ‘A’ Class commercial bank and International Leasing & Finance Company Limited (ILFCO), a ‘C’ Class financial institution are starting their joint operation from today, October 17 after completing their merger process.  ',
			'content' => '<p>October 17: &nbsp;Civil Bank, an &lsquo;A&rsquo; Class commercial bank and International Leasing &amp; Finance Company Limited (ILFCO), a &lsquo;C&rsquo; Class financial institution are starting their joint operation from today, October 17 after completing their merger process. &nbsp;</p>

<p>Issuing a press statement, the bank informed that the name of the newly formed merged entity will be Civil Bank with 51 branch offices across the country. Moreover, the current composition of the board of directors and senior management of Civil Bank will remain unchanged.</p>

<p>&quot;The merger has enhanced the credit expansion capacity and financial strength of the bank and has enabled the bank to expand its business and invest in infrastructure and other industrial projects,&quot; said Kishor Maharjan, CEO of Civil Bank.</p>

<p>Civil Bank has also signed a memorandum of understanding (MoU) for acquisition of Unique Finance and Hama Merchant &amp; Finance in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the Nepal Rastra Bank (NRB) directive. Unique Finance has a paid-up capital of Rs 230 million, whereas Hama Merchant has a paid-up capital of Rs 220 million. After these proposed acquisitions, Civil Bank&rsquo;s paid-up capital will reach Rs 5.54 billion.</p>

<p>&nbsp;&ldquo;The bank will issue bonus and rights shares and also continue to merge with or acquire other institutions simultaneously to meet the minimum paid-up requirement of Rs8 billion,&rdquo; reads the statement.</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4432',
			'image' => '20161017120045_civil.JPG',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '4601',
			'article_category_id' => '1',
			'title' => 'Merger between Om Devt and Manaslu Bikash Bank',
			'sub_title' => '',
			'summary' => 'October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla,',
			'content' => '<p style="text-align: justify;">October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla, officials of Om Devt Bank will lead the merged entity as Chairman, CEO and Deputy CEO. Likewise, Durga Ram Puri, Acting General Manager of Manaslu will serve the merged entity as Assistant General Manager.</p>

<p style="text-align: justify;">After the merger, the paid-up capital, deposit collection and loan extensions of the bank will total Rs 1.33 billion, Rs 13.98 billion and Rs 12.61 billion respectively. The branch network of the bank, after merger, will reach 36. The existing headquarter of Om Development Bank in Pokhara will serve as the headquarter of the merged entity as well.</p>

<p style="text-align: justify;">Recently, the board of directors meeting of Om Development Bank and Manaslu Bikash Bank have decided to distribute 29.20 percent and 18.95 percent bonus shares respectively to its shareholders. After the approval of bonus shares from Nepal Rastra Bank and annual general meeting of the banks, the paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4431',
			'image' => '20161017105949_om and manaslu.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4600',
			'article_category_id' => '1',
			'title' => 'Century Commercial Bank to acquire Arniko Devt Bank',
			'sub_title' => '',
			'summary' => 'October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February. ',
			'content' => '<p style="text-align: justify;">October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February.&nbsp;</p>

<p style="text-align: justify;"><br />
Presently, Century Bank has paid-up capital of Rs 2.84 billion. The bank has also issued right shares of Rs 850 million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4430',
			'image' => '20161017102039_century bank.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '4599',
			'article_category_id' => '1',
			'title' => 'Ncell Bags Frost & Sullivan Nepal Mobile Service Provider 2016',
			'sub_title' => '',
			'summary' => 'October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost & Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost & Sullivan.',
			'content' => '<p style="text-align:justify">October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost &amp; Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost &amp; Sullivan. Moreover, the award is a subset of its prestigious Asia Pacific Best Practices Awards which honours best-in-class companies within a multitude of industries in Asia Pacific, including the Automotive, Energy, Building &amp; Environment, Healthcare and Information Communication Technologies sectors in Asia Pacific.</p>

<p style="text-align:justify">According to the statement, the award recipients were evaluated against a set of stringent criteria, based on a variety of actual market performance indicators which include total subscribers, mobile service revenue, blended Average Revenue per User (&ldquo;ARPU&rdquo;) and ARPU growth and service or business model innovation.</p>

<p style="text-align:justify">&ldquo;We are humbled that our efforts to focus on our customers and fulfil their dynamic connectivity needs have been recognized internationally once again. Frost &amp; Sullivan undertakes a rigorous evaluation process for this award and the achievement is testament of Ncell&rsquo;s exemplary overall growth and best-in-class performance; and a culmination of the hard work and dedication of all our employees in working towards the socio-economic prosperity of Nepal,&quot; said Simon Perkins, &nbsp;Managing Director of Ncell.</p>

<p style="text-align:justify">&ldquo;Heartened by the consecutive recognition, Ncell remains steadfast in implementing significant network enhancements and service innovations for more seamless connectivity across Nepal. We are determined to continue delivering exceptional and sustainable service to the people of Nepal,&quot; Perkins added.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4429',
			'image' => '20161017100518_ncell.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '4598',
			'article_category_id' => '1',
			'title' => 'Free Viber Zones in Nepal',
			'sub_title' => '',
			'summary' => 'October 16:  Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Café de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. ',
			'content' => '<p>October 16: Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Caf&eacute; de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. According to the company, Free Viber Zone provides unlimited free internet service powered by Subisu where users can call, text, video call for free using&nbsp;Viber. &ldquo;Users can log on to Free Viber Zone wifi in these spots and can use the service as much as they want,&rdquo; Viber said in a press statement.&nbsp;</p>

<p>&quot;We are introducing Free Viber Zone in Nepal as Nepal has proved to be a promising market for Viber. With the ongoing festive season in Nepal, free Viber Zone service will provide tremendous value to the users. They can celebrate the festive season by communicating with their relatives and friends for free through free Viber Zone service. Viber has also launched &lsquo;Dashain sticker pack&rsquo; that is available to all Nepali users for free.&quot; said Anubhav Nayyar, Regional Head-Viber South Asia.</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-16',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4428',
			'image' => '20161016042519_IMG_0509.jpg',
			'article_date' => '2016-10-16 00:00:00',
			'homepage' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '4597',
			'article_category_id' => '1',
			'title' => 'NRNA Campaign Targets to bring 1.6 million Tourists in Nepal ',
			'sub_title' => '',
			'summary' => 'October 7: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. ',
			'content' => '<p>October 07: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. In a program organised by National Tourism Promotion Committee (NTPC) of NRNA, the plans were unveiled to persuade foreigners in the abovementioned number to visit Nepal number till the end of 2017. The organiser of the campaign has set an objective as per which a NRN should persuade his/her three friends to visit Nepal.</p>

<p>&ldquo;Having network of NRNA in 75 countries around the world, we can contribute significantly for the promotion of Nepali tourism,&rdquo; said Sesh Ghale, President of NRN. He further added, &ldquo;NRNA is conducting different programs related to tourism including &lsquo;Atithi Devo Bhawa&rsquo; on the 75 countries in cooperation with Nepal Government and Nepal Tourism Board (NTB).&rdquo;</p>

<p>Stating that more than 5 million Nepalis are residing abroad at present, Bhawan Bhatta, Vice-President of the NRNA and Chairman of NTPC expressed the commitment of diasporas for the major contribution to promote Nepal globally.</p>

<p style="text-align:justify">Meanwhile, Shankar Prasad Adhikari, Secretary of Ministry of Culture, Tourism and Civil Aviation said the government will cooperate with NRNA for the promotion of tourism. Similarly, Deepak Raj Joshi, CEO of NTB mentioned that the Board will cooperate with the association for the promotion of Nepali tourism.&nbsp;</p>
',
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			'sortorder' => '4427',
			'image' => '20161007030827_NRNA.jpg',
			'article_date' => '2016-10-07 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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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
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4611',
			'article_category_id' => '1',
			'title' => 'Uncertanity Looms Over FNCCI SGM',
			'sub_title' => '',
			'summary' => 'October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM. ',
			'content' => '<p style="text-align:justify">October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM.&nbsp;</p>

<p style="text-align:justify">The bench of Patan High Court Judge Bhim Kumar Ojha issued the interim order to keep the process of SGM &lsquo;as it is&rsquo; till Wednesday. The court also ordered the opponents of the writ to submit a written reply within 15 days.</p>

<p style="text-align:justify">Former Senior Vice-President of FNCCI Bhaskar Raj Karnikar and Executive Member Govinda Raj Ghimire filed the writ mentioning that the amendment of statute is not possible through the SGM.&nbsp; FNCCI, Executive Committee, President Pashupati Murarka, Deputy Director General Meena Shrestha and District Administration Office, Kathmandu were mentioned as opponents in the writ.&nbsp;</p>

<p style="text-align:justify">The petitioners argued that the Executive Committee has called out the SGM illegally ignoring the constitutional right and statute of FNCCI. Similarly, they also mentioned SGM as a conspiracy in order to automatically promote Senior Vice-President to President ignoring the open competition in the name of statute amendment. Senior advocate Shambhu Thapa along with advocates Tika Ram Bhattarai and Gopal Dutt Pandey argued on behalf of the writ petitioners.</p>

<p style="text-align:justify">The court has called both parties to understand the issue of writ petition on Wednesday.&nbsp; The court may issue order to stop or continue the SGM on Wednesday after hearing the arguments from both sides. If the SGM is stopped, the amendment of FNCCCI statute will be obstructed and the next general meeting will have to elect the president and the executive committee.</p>

<p style="text-align:justify">Meanwhile, if the statute gets amended, Vice-President Bhawani Rana will easily become the President of FNCCI and the race of Bhaskar Rajkarnikar for the post of President will end with the amendment.</p>

<p style="text-align:justify">The executive committee called the SGM to amend the statute in order to create the new structure of the organisation as per the federal model of the country and implement a system where the senior vice-president will automatically become the president. However, the writ petitioner Rajkarnikar argues that the statute amendment could be done only through the AGM of the organisation. &quot;The statute amendment process itself is invalid,&quot; he says, adding, &quot;The amendment attempts to serve the interest of a particular person.&quot;</p>

<p style="text-align:justify">President Pashupati Murarka, meanwhile, says that the amendment process is not being carried out in favour of a particular individual. However, former presidents and officials of FNCCI are divided over amendment of statute before the AGM.</p>

<p style="text-align:justify">Former presidents Mahesh Lal Pradhan, Suraj Vaidya, Anand Raj Mulmi and Binod Bahadur Shrestha have openly objected the statute amendment. Meanwhile, Kush Kumar Joshi has maintained his silence on the issue, whereas other former Presidents are in favour of the amendment.</p>

<p style="text-align:justify">The existing statute of the FNCCI was formulated on 1993. Later, the statute was amended on 2005 through a SGM. &quot;The amendment of 2005 has clearly established the mechanism for the amendment of the statute. It should be done through the AGM not SGM,&quot; he says.</p>

<p style="text-align:justify">Nonetheless, Murarka refutes the claims of Rajkarnikar. &ldquo;Some former presidents who are not able to get desired roles are objecting the process,&rdquo; he says. &quot;Amendment of statute is required in a bid to stop interests of individuals and group politics in the FNCCI.&rdquo;</p>

<p style="text-align:justify">&nbsp;The opposing side has been blaming that amendment is being carried out just to stop Rajkarnikar from becoming the President.</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-19',
			'modified' => '2016-10-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4441',
			'image' => '20161019030522_FNCCI.jpg',
			'article_date' => '2016-10-19 00:00:00',
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	(int) 1 => array(
		'Article' => array(
			'id' => '4610',
			'article_category_id' => '1',
			'title' => 'Om Devt Bank in 10th Year',
			'sub_title' => '',
			'summary' => 'October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On th',
			'content' => '<p style="text-align: justify;">October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On the occasion, the bank organised clean-up program at the premises of Bindabasini Temple, Pokhara along with blood donation program. A total of 51 units of blood were collected from the blood donation program. Previously, the bank had also donated Rs 1.5 million in order to construct building for the operation of ambulance services. &nbsp;</p>

<p style="text-align: justify;"><br />
Moreover, Om Development Bank has recently finalised principle agreement with Manaslu Development Bank for merger. After distribution of bonus shares of both financial institutions and merger, the combined paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4440',
			'image' => '20161019112321_om.jpg',
			'article_date' => '2016-10-19 00:00:00',
			'homepage' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '4609',
			'article_category_id' => '1',
			'title' => 'Him Electronics Hands Over Samsung SUHD TV to First Pre-Booker ',
			'sub_title' => '',
			'summary' => 'October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time. ',
			'content' => '<p style="text-align: justify;">October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time.&nbsp;</p>

<p style="text-align: justify;"><br />
The SUHD TV was handed over to Shah by Seema Golchha, Director of Him Electronics in a special ceremony organized at Samsung Digital Plaza, Durbarmarg. Shah pre-booked the 55 inch SUHD TV between July 14 and September 15 and received a Samsung Galaxy S7 and Samsung Gear VR (Worth of Rs 88,900) as a gift for pre- booking of Samsung SUHD TV.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4439',
			'image' => '20161019110001_sust.jpg',
			'article_date' => '2016-10-19 00:00:00',
			'homepage' => false,
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	(int) 3 => array(
		'Article' => array(
			'id' => '4608',
			'article_category_id' => '1',
			'title' => 'SEBON Directs Reliable Devt Bank to issue Right Shares ',
			'sub_title' => '',
			'summary' => 'October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank. ',
			'content' => '<p>October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank.&nbsp;</p>

<p><br />
Earlier, the 10th annual general meeting of Reliable Development bank had decided to issue 1:1 right shares to its existing shareholders. However, the bank has signed a memorandum of understanding (MoU) with Global IME Bank to be acquired without issuing right shares to its existing shareholders. SEBON, being a regulator of the market, has taken a keen interest on the subject matter and has directed the Reliable Devt to issue right shares prior to the acquisition.</p>

<p><br />
According to the SEBON, the decision taken by the AGM on issuance of right shares was price sensitive. Thus, failure to implement the decision will be against the investors&#39; interest.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4438',
			'image' => '20161018015610_sebon.JPG',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 4 => array(
		'Article' => array(
			'id' => '4607',
			'article_category_id' => '1',
			'title' => 'Tea Export Rises by 20 Percent',
			'sub_title' => '',
			'summary' => ' October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16. ',
			'content' => '<p>October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16.&nbsp;</p>

<p><br />
In FY 2014/15, tea export totaled Rs 2.1 billion which increased by Rs 2.40 billion in FY 2015/16. &nbsp;As per the TEPC, last FY saw export of 13,289 metric tonnes of tea against 11,142 metric tonnes in FY 2014/15 marking a growth of 19.26 percent. The data indicates that the rise in demand has supported the increment in export despite the stability in average price of tea in the international market.&nbsp;</p>

<p><br />
However, the export of tea has slowed down in FY 2014/15 compared to FY 2013/14 as per the TEPC data. In FY2014/15, 11,396 metric tonnes of tea amounting Rs 2.1 billion was exported which is less in terms of quantity and amount. &ldquo;The last year&rsquo;s earthquake affected the production of tea in spite of the demand in the international market,&rdquo; says Gaurav Luitel, Planning Officer of the National Tea and Coffee Development Board. According to him, the non-tariff barrier imposed by different countries sometimes creates problem in the export of the Nepali tea. &nbsp; &nbsp;</p>

<p><br />
As per the Board, CTC tea comprises of 80 percent of the tea production in Nepal and orthodox tea shares the rest 20 percent. The Board views that the export is very less in terms of international market demand. &ldquo;Nepali tea is very popular in international market,&rdquo; mentions Luitel, adding, &ldquo;If we can make improvements in both production and quality, we can export tea as per the demand.&rdquo;</p>

<p><br />
Tea produced in Nepal is being exported to markets including India, UK, Germany, Switzerland, Belgium, China, France, Netherland, Canada and other countries. India is the single biggest market for Nepali tea. According to official statistics, 90 percent of tea produced in the country is exported to India while 2.8 percent is shipped to Germany and remaining to other countries. &nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4437',
			'image' => '20161018015316_tea.JPG',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '4606',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Devt Bank Bags 'Best Enterprises' Award',
			'sub_title' => '',
			'summary' => 'October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded 'Best Enterprises' award by Britain's 'Europe Business Assembly' for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7. ',
			'content' => '<p style="text-align:justify">October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded &#39;Best Enterprises&#39; award by Britain&#39;s &#39;Europe Business Assembly&#39; for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, Ramesh Kumar Bhattarai, Cheif Executive Officer of the bank was also awarded &#39;Manager of the year 2016&#39;. &nbsp;According to the statement, the award ceremony was participated by various companies of more than 36 countries of Asia, Europe, Africa and Middle East.&nbsp;</p>

<p style="text-align:justify"><br />
Mahalaxmi Development Bank, the merged entity of Malika Development Bank, Siddhartha Finance and Mahalaxmi Finance, is a national level development bank. The bank started its joint transaction after merger from September 4, 2016. After the merger, the bank has paid-up capital of Rs 1.156 billion, deposit of Rs 11.55 billion and loan extension of Rs 9.36 billion. Similarly, the number of customers of the bank has totalled 209,000. The bank is providing financial services through 41 branches to its customers.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4436',
			'image' => '20161018010226_mahalaxmi devt.jpg',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '4605',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Boom and Vibor Society Devt Bank',
			'sub_title' => '',
			'summary' => 'October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17. ',
			'content' => '<p style="text-align: justify;">October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17.&nbsp;</p>

<p style="text-align: justify;"><br />
Dhirendra Pant, Managing Director of Boom Remittance and Jhalak Prasad Khanal, Chief Executive Officer of Vibor Society signed the agreement paper on behalf of their respective organisation.</p>

<p style="text-align: justify;">&nbsp;<br />
As per the agreement, remittances send from Nepalis working abroad through Boom Remittance can be received from 42 branches and 1 extension counter of Vibor Society Development Bank. Along with it, the agreement also covers internal remittance payment services through Boom Remit Software.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4435',
			'image' => '20161018122530_boom and vibor.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '4604',
			'article_category_id' => '1',
			'title' => 'CBIL Capital Appoints Independent Directors',
			'sub_title' => '',
			'summary' => 'October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure. ',
			'content' => '<p style="text-align:justify">October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure.&nbsp;</p>

<p style="text-align:justify"><br />
CBIL Capital is the subsidiary company of Citizens Bank International. The capital has acquired license from Securities Board of Nepal (SEBON) in order to deal with tasks directly related with investors. The task performed by CBIL Capital includes issuance of securities, issue management, under writing, portfolio management, D-mat account opening, shares dematerialisation and mutual fund promotion.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4434',
			'image' => '20161018114737_cbil capital.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '4603',
			'article_category_id' => '1',
			'title' => 'Everest Bank's Free Health Camp on 22nd Anniversary',
			'sub_title' => '',
			'summary' => 'October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, t',
			'content' => '<p style="text-align: justify;">October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, the bank informed that the free health camp delivered health check-up services including ENT, Dental, Ophthalmology and Orthopaedic to 250 service seekers. According to the bank, it organised the health camp in order to provide information regarding cure of various diseases in its early stage. &nbsp;The bank informed of organising the health camp under its corporate social responsibility. The bank is providing financial services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 86 ATMs.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4433',
			'image' => '20161018110225_everest bank.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 9 => array(
		'Article' => array(
			'id' => '4602',
			'article_category_id' => '1',
			'title' => 'Joint Operation of Civil Bank and ILFCO Starts',
			'sub_title' => '',
			'summary' => 'October 17:  Civil Bank, an ‘A’ Class commercial bank and International Leasing & Finance Company Limited (ILFCO), a ‘C’ Class financial institution are starting their joint operation from today, October 17 after completing their merger process.  ',
			'content' => '<p>October 17: &nbsp;Civil Bank, an &lsquo;A&rsquo; Class commercial bank and International Leasing &amp; Finance Company Limited (ILFCO), a &lsquo;C&rsquo; Class financial institution are starting their joint operation from today, October 17 after completing their merger process. &nbsp;</p>

<p>Issuing a press statement, the bank informed that the name of the newly formed merged entity will be Civil Bank with 51 branch offices across the country. Moreover, the current composition of the board of directors and senior management of Civil Bank will remain unchanged.</p>

<p>&quot;The merger has enhanced the credit expansion capacity and financial strength of the bank and has enabled the bank to expand its business and invest in infrastructure and other industrial projects,&quot; said Kishor Maharjan, CEO of Civil Bank.</p>

<p>Civil Bank has also signed a memorandum of understanding (MoU) for acquisition of Unique Finance and Hama Merchant &amp; Finance in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the Nepal Rastra Bank (NRB) directive. Unique Finance has a paid-up capital of Rs 230 million, whereas Hama Merchant has a paid-up capital of Rs 220 million. After these proposed acquisitions, Civil Bank&rsquo;s paid-up capital will reach Rs 5.54 billion.</p>

<p>&nbsp;&ldquo;The bank will issue bonus and rights shares and also continue to merge with or acquire other institutions simultaneously to meet the minimum paid-up requirement of Rs8 billion,&rdquo; reads the statement.</p>
',
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			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4432',
			'image' => '20161017120045_civil.JPG',
			'article_date' => '2016-10-17 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4601',
			'article_category_id' => '1',
			'title' => 'Merger between Om Devt and Manaslu Bikash Bank',
			'sub_title' => '',
			'summary' => 'October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla,',
			'content' => '<p style="text-align: justify;">October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla, officials of Om Devt Bank will lead the merged entity as Chairman, CEO and Deputy CEO. Likewise, Durga Ram Puri, Acting General Manager of Manaslu will serve the merged entity as Assistant General Manager.</p>

<p style="text-align: justify;">After the merger, the paid-up capital, deposit collection and loan extensions of the bank will total Rs 1.33 billion, Rs 13.98 billion and Rs 12.61 billion respectively. The branch network of the bank, after merger, will reach 36. The existing headquarter of Om Development Bank in Pokhara will serve as the headquarter of the merged entity as well.</p>

<p style="text-align: justify;">Recently, the board of directors meeting of Om Development Bank and Manaslu Bikash Bank have decided to distribute 29.20 percent and 18.95 percent bonus shares respectively to its shareholders. After the approval of bonus shares from Nepal Rastra Bank and annual general meeting of the banks, the paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4431',
			'image' => '20161017105949_om and manaslu.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4600',
			'article_category_id' => '1',
			'title' => 'Century Commercial Bank to acquire Arniko Devt Bank',
			'sub_title' => '',
			'summary' => 'October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February. ',
			'content' => '<p style="text-align: justify;">October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February.&nbsp;</p>

<p style="text-align: justify;"><br />
Presently, Century Bank has paid-up capital of Rs 2.84 billion. The bank has also issued right shares of Rs 850 million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4430',
			'image' => '20161017102039_century bank.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 12 => array(
		'Article' => array(
			'id' => '4599',
			'article_category_id' => '1',
			'title' => 'Ncell Bags Frost & Sullivan Nepal Mobile Service Provider 2016',
			'sub_title' => '',
			'summary' => 'October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost & Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost & Sullivan.',
			'content' => '<p style="text-align:justify">October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost &amp; Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost &amp; Sullivan. Moreover, the award is a subset of its prestigious Asia Pacific Best Practices Awards which honours best-in-class companies within a multitude of industries in Asia Pacific, including the Automotive, Energy, Building &amp; Environment, Healthcare and Information Communication Technologies sectors in Asia Pacific.</p>

<p style="text-align:justify">According to the statement, the award recipients were evaluated against a set of stringent criteria, based on a variety of actual market performance indicators which include total subscribers, mobile service revenue, blended Average Revenue per User (&ldquo;ARPU&rdquo;) and ARPU growth and service or business model innovation.</p>

<p style="text-align:justify">&ldquo;We are humbled that our efforts to focus on our customers and fulfil their dynamic connectivity needs have been recognized internationally once again. Frost &amp; Sullivan undertakes a rigorous evaluation process for this award and the achievement is testament of Ncell&rsquo;s exemplary overall growth and best-in-class performance; and a culmination of the hard work and dedication of all our employees in working towards the socio-economic prosperity of Nepal,&quot; said Simon Perkins, &nbsp;Managing Director of Ncell.</p>

<p style="text-align:justify">&ldquo;Heartened by the consecutive recognition, Ncell remains steadfast in implementing significant network enhancements and service innovations for more seamless connectivity across Nepal. We are determined to continue delivering exceptional and sustainable service to the people of Nepal,&quot; Perkins added.</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4429',
			'image' => '20161017100518_ncell.jpg',
			'article_date' => '2016-10-17 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '4598',
			'article_category_id' => '1',
			'title' => 'Free Viber Zones in Nepal',
			'sub_title' => '',
			'summary' => 'October 16:  Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Café de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. ',
			'content' => '<p>October 16: Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Caf&eacute; de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. According to the company, Free Viber Zone provides unlimited free internet service powered by Subisu where users can call, text, video call for free using&nbsp;Viber. &ldquo;Users can log on to Free Viber Zone wifi in these spots and can use the service as much as they want,&rdquo; Viber said in a press statement.&nbsp;</p>

<p>&quot;We are introducing Free Viber Zone in Nepal as Nepal has proved to be a promising market for Viber. With the ongoing festive season in Nepal, free Viber Zone service will provide tremendous value to the users. They can celebrate the festive season by communicating with their relatives and friends for free through free Viber Zone service. Viber has also launched &lsquo;Dashain sticker pack&rsquo; that is available to all Nepali users for free.&quot; said Anubhav Nayyar, Regional Head-Viber South Asia.</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-16',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4428',
			'image' => '20161016042519_IMG_0509.jpg',
			'article_date' => '2016-10-16 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '4597',
			'article_category_id' => '1',
			'title' => 'NRNA Campaign Targets to bring 1.6 million Tourists in Nepal ',
			'sub_title' => '',
			'summary' => 'October 7: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. ',
			'content' => '<p>October 07: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. In a program organised by National Tourism Promotion Committee (NTPC) of NRNA, the plans were unveiled to persuade foreigners in the abovementioned number to visit Nepal number till the end of 2017. The organiser of the campaign has set an objective as per which a NRN should persuade his/her three friends to visit Nepal.</p>

<p>&ldquo;Having network of NRNA in 75 countries around the world, we can contribute significantly for the promotion of Nepali tourism,&rdquo; said Sesh Ghale, President of NRN. He further added, &ldquo;NRNA is conducting different programs related to tourism including &lsquo;Atithi Devo Bhawa&rsquo; on the 75 countries in cooperation with Nepal Government and Nepal Tourism Board (NTB).&rdquo;</p>

<p>Stating that more than 5 million Nepalis are residing abroad at present, Bhawan Bhatta, Vice-President of the NRNA and Chairman of NTPC expressed the commitment of diasporas for the major contribution to promote Nepal globally.</p>

<p style="text-align:justify">Meanwhile, Shankar Prasad Adhikari, Secretary of Ministry of Culture, Tourism and Civil Aviation said the government will cooperate with NRNA for the promotion of tourism. Similarly, Deepak Raj Joshi, CEO of NTB mentioned that the Board will cooperate with the association for the promotion of Nepali tourism.&nbsp;</p>
',
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			'sortorder' => '4427',
			'image' => '20161007030827_NRNA.jpg',
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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 &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4611',
			'article_category_id' => '1',
			'title' => 'Uncertanity Looms Over FNCCI SGM',
			'sub_title' => '',
			'summary' => 'October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM. ',
			'content' => '<p style="text-align:justify">October 19: The special general meeting (SGM) of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) scheduled for Thursday has apparently become uncertain. The Patan High Court on Tuesday issued a stay order in a writ petition filed by the opponents of the SGM. The petitioners have demanded an injunction with interim order from the court to stop the SGM.&nbsp;</p>

<p style="text-align:justify">The bench of Patan High Court Judge Bhim Kumar Ojha issued the interim order to keep the process of SGM &lsquo;as it is&rsquo; till Wednesday. The court also ordered the opponents of the writ to submit a written reply within 15 days.</p>

<p style="text-align:justify">Former Senior Vice-President of FNCCI Bhaskar Raj Karnikar and Executive Member Govinda Raj Ghimire filed the writ mentioning that the amendment of statute is not possible through the SGM.&nbsp; FNCCI, Executive Committee, President Pashupati Murarka, Deputy Director General Meena Shrestha and District Administration Office, Kathmandu were mentioned as opponents in the writ.&nbsp;</p>

<p style="text-align:justify">The petitioners argued that the Executive Committee has called out the SGM illegally ignoring the constitutional right and statute of FNCCI. Similarly, they also mentioned SGM as a conspiracy in order to automatically promote Senior Vice-President to President ignoring the open competition in the name of statute amendment. Senior advocate Shambhu Thapa along with advocates Tika Ram Bhattarai and Gopal Dutt Pandey argued on behalf of the writ petitioners.</p>

<p style="text-align:justify">The court has called both parties to understand the issue of writ petition on Wednesday.&nbsp; The court may issue order to stop or continue the SGM on Wednesday after hearing the arguments from both sides. If the SGM is stopped, the amendment of FNCCCI statute will be obstructed and the next general meeting will have to elect the president and the executive committee.</p>

<p style="text-align:justify">Meanwhile, if the statute gets amended, Vice-President Bhawani Rana will easily become the President of FNCCI and the race of Bhaskar Rajkarnikar for the post of President will end with the amendment.</p>

<p style="text-align:justify">The executive committee called the SGM to amend the statute in order to create the new structure of the organisation as per the federal model of the country and implement a system where the senior vice-president will automatically become the president. However, the writ petitioner Rajkarnikar argues that the statute amendment could be done only through the AGM of the organisation. &quot;The statute amendment process itself is invalid,&quot; he says, adding, &quot;The amendment attempts to serve the interest of a particular person.&quot;</p>

<p style="text-align:justify">President Pashupati Murarka, meanwhile, says that the amendment process is not being carried out in favour of a particular individual. However, former presidents and officials of FNCCI are divided over amendment of statute before the AGM.</p>

<p style="text-align:justify">Former presidents Mahesh Lal Pradhan, Suraj Vaidya, Anand Raj Mulmi and Binod Bahadur Shrestha have openly objected the statute amendment. Meanwhile, Kush Kumar Joshi has maintained his silence on the issue, whereas other former Presidents are in favour of the amendment.</p>

<p style="text-align:justify">The existing statute of the FNCCI was formulated on 1993. Later, the statute was amended on 2005 through a SGM. &quot;The amendment of 2005 has clearly established the mechanism for the amendment of the statute. It should be done through the AGM not SGM,&quot; he says.</p>

<p style="text-align:justify">Nonetheless, Murarka refutes the claims of Rajkarnikar. &ldquo;Some former presidents who are not able to get desired roles are objecting the process,&rdquo; he says. &quot;Amendment of statute is required in a bid to stop interests of individuals and group politics in the FNCCI.&rdquo;</p>

<p style="text-align:justify">&nbsp;The opposing side has been blaming that amendment is being carried out just to stop Rajkarnikar from becoming the President.</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'created' => '2016-10-19',
			'modified' => '2016-10-20',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4441',
			'image' => '20161019030522_FNCCI.jpg',
			'article_date' => '2016-10-19 00:00:00',
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	(int) 1 => array(
		'Article' => array(
			'id' => '4610',
			'article_category_id' => '1',
			'title' => 'Om Devt Bank in 10th Year',
			'sub_title' => '',
			'summary' => 'October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On th',
			'content' => '<p style="text-align: justify;">October 19: Om Development Bank, headquarters at Chipledhunga, Pokhara, has entered into 10th year of its operation. The bank recently celebrated its 9th anniversary by organising various program. On the occasion, the bank organised clean-up program at the premises of Bindabasini Temple, Pokhara along with blood donation program. A total of 51 units of blood were collected from the blood donation program. Previously, the bank had also donated Rs 1.5 million in order to construct building for the operation of ambulance services. &nbsp;</p>

<p style="text-align: justify;"><br />
Moreover, Om Development Bank has recently finalised principle agreement with Manaslu Development Bank for merger. After distribution of bonus shares of both financial institutions and merger, the combined paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4440',
			'image' => '20161019112321_om.jpg',
			'article_date' => '2016-10-19 00:00:00',
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		'Article' => array(
			'id' => '4609',
			'article_category_id' => '1',
			'title' => 'Him Electronics Hands Over Samsung SUHD TV to First Pre-Booker ',
			'sub_title' => '',
			'summary' => 'October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time. ',
			'content' => '<p style="text-align: justify;">October 19: Him Electronics, the authorised distributor of Samsung electronics and home appliances for Nepal, has handed over SUHD TV to Bikram Prashad Shah on October 7. Shah is the first pre-booker of the Samsung SUHD TV, equipped with second generation Quantum dot technology introduced in Nepal for the first time.&nbsp;</p>

<p style="text-align: justify;"><br />
The SUHD TV was handed over to Shah by Seema Golchha, Director of Him Electronics in a special ceremony organized at Samsung Digital Plaza, Durbarmarg. Shah pre-booked the 55 inch SUHD TV between July 14 and September 15 and received a Samsung Galaxy S7 and Samsung Gear VR (Worth of Rs 88,900) as a gift for pre- booking of Samsung SUHD TV.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-19',
			'modified' => '2016-10-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4439',
			'image' => '20161019110001_sust.jpg',
			'article_date' => '2016-10-19 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '4608',
			'article_category_id' => '1',
			'title' => 'SEBON Directs Reliable Devt Bank to issue Right Shares ',
			'sub_title' => '',
			'summary' => 'October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank. ',
			'content' => '<p>October 18: Securities Board of Nepal (SEBON) has directed Reliable Development bank to issue right shares as per the decision of its 10th annual general meeting taken on October 3, 2016. SEBON, issuing a notice, directed Reliable to implement its right share issuance decision before going into acquisition process with Global IME Bank.&nbsp;</p>

<p><br />
Earlier, the 10th annual general meeting of Reliable Development bank had decided to issue 1:1 right shares to its existing shareholders. However, the bank has signed a memorandum of understanding (MoU) with Global IME Bank to be acquired without issuing right shares to its existing shareholders. SEBON, being a regulator of the market, has taken a keen interest on the subject matter and has directed the Reliable Devt to issue right shares prior to the acquisition.</p>

<p><br />
According to the SEBON, the decision taken by the AGM on issuance of right shares was price sensitive. Thus, failure to implement the decision will be against the investors&#39; interest.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4438',
			'image' => '20161018015610_sebon.JPG',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '4607',
			'article_category_id' => '1',
			'title' => 'Tea Export Rises by 20 Percent',
			'sub_title' => '',
			'summary' => ' October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16. ',
			'content' => '<p>October 18: The introduction of cash subsidy program by the government for the promotion of Nepali products has positively impacted the tea export. According to a latest Trade and Export Promotion Center (TEPC) data, the export of tea has risen by 20 percent in the FY2015/16.&nbsp;</p>

<p><br />
In FY 2014/15, tea export totaled Rs 2.1 billion which increased by Rs 2.40 billion in FY 2015/16. &nbsp;As per the TEPC, last FY saw export of 13,289 metric tonnes of tea against 11,142 metric tonnes in FY 2014/15 marking a growth of 19.26 percent. The data indicates that the rise in demand has supported the increment in export despite the stability in average price of tea in the international market.&nbsp;</p>

<p><br />
However, the export of tea has slowed down in FY 2014/15 compared to FY 2013/14 as per the TEPC data. In FY2014/15, 11,396 metric tonnes of tea amounting Rs 2.1 billion was exported which is less in terms of quantity and amount. &ldquo;The last year&rsquo;s earthquake affected the production of tea in spite of the demand in the international market,&rdquo; says Gaurav Luitel, Planning Officer of the National Tea and Coffee Development Board. According to him, the non-tariff barrier imposed by different countries sometimes creates problem in the export of the Nepali tea. &nbsp; &nbsp;</p>

<p><br />
As per the Board, CTC tea comprises of 80 percent of the tea production in Nepal and orthodox tea shares the rest 20 percent. The Board views that the export is very less in terms of international market demand. &ldquo;Nepali tea is very popular in international market,&rdquo; mentions Luitel, adding, &ldquo;If we can make improvements in both production and quality, we can export tea as per the demand.&rdquo;</p>

<p><br />
Tea produced in Nepal is being exported to markets including India, UK, Germany, Switzerland, Belgium, China, France, Netherland, Canada and other countries. India is the single biggest market for Nepali tea. According to official statistics, 90 percent of tea produced in the country is exported to India while 2.8 percent is shipped to Germany and remaining to other countries. &nbsp; &nbsp; &nbsp; &nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4437',
			'image' => '20161018015316_tea.JPG',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '4606',
			'article_category_id' => '1',
			'title' => 'Mahalaxmi Devt Bank Bags 'Best Enterprises' Award',
			'sub_title' => '',
			'summary' => 'October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded 'Best Enterprises' award by Britain's 'Europe Business Assembly' for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7. ',
			'content' => '<p style="text-align:justify">October 18: Mahalaxmi Development Bank (then Mahalaxmi Finance Ltd) has been awarded &#39;Best Enterprises&#39; award by Britain&#39;s &#39;Europe Business Assembly&#39; for the year 2016. Issuing a press statement, the bank informed that the award was handed over to the bank in a special ceremony to mark European Award Nights organised at Cannes City on October 7.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, Ramesh Kumar Bhattarai, Cheif Executive Officer of the bank was also awarded &#39;Manager of the year 2016&#39;. &nbsp;According to the statement, the award ceremony was participated by various companies of more than 36 countries of Asia, Europe, Africa and Middle East.&nbsp;</p>

<p style="text-align:justify"><br />
Mahalaxmi Development Bank, the merged entity of Malika Development Bank, Siddhartha Finance and Mahalaxmi Finance, is a national level development bank. The bank started its joint transaction after merger from September 4, 2016. After the merger, the bank has paid-up capital of Rs 1.156 billion, deposit of Rs 11.55 billion and loan extension of Rs 9.36 billion. Similarly, the number of customers of the bank has totalled 209,000. The bank is providing financial services through 41 branches to its customers.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4436',
			'image' => '20161018010226_mahalaxmi devt.jpg',
			'article_date' => '2016-10-18 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '4605',
			'article_category_id' => '1',
			'title' => 'Remit Agreement between Boom and Vibor Society Devt Bank',
			'sub_title' => '',
			'summary' => 'October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17. ',
			'content' => '<p style="text-align: justify;">October 18: Boom Remittance and Vibor Society Development Bank has undertaken agreement regarding remittance payment. Boom and Vibor have signed a memorandum of understanding (MoU) related with remittance payment on Monday, October 17.&nbsp;</p>

<p style="text-align: justify;"><br />
Dhirendra Pant, Managing Director of Boom Remittance and Jhalak Prasad Khanal, Chief Executive Officer of Vibor Society signed the agreement paper on behalf of their respective organisation.</p>

<p style="text-align: justify;">&nbsp;<br />
As per the agreement, remittances send from Nepalis working abroad through Boom Remittance can be received from 42 branches and 1 extension counter of Vibor Society Development Bank. Along with it, the agreement also covers internal remittance payment services through Boom Remit Software.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4435',
			'image' => '20161018122530_boom and vibor.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '4604',
			'article_category_id' => '1',
			'title' => 'CBIL Capital Appoints Independent Directors',
			'sub_title' => '',
			'summary' => 'October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure. ',
			'content' => '<p style="text-align:justify">October 18: CBIL Capital has appointed Kamal Bikram Singh and Bhola Prasad Pandey as its Independent Directors. The company appointed Singh and Pandey in the post of Independent Directors for two years of tenure.&nbsp;</p>

<p style="text-align:justify"><br />
CBIL Capital is the subsidiary company of Citizens Bank International. The capital has acquired license from Securities Board of Nepal (SEBON) in order to deal with tasks directly related with investors. The task performed by CBIL Capital includes issuance of securities, issue management, under writing, portfolio management, D-mat account opening, shares dematerialisation and mutual fund promotion.</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4434',
			'image' => '20161018114737_cbil capital.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '4603',
			'article_category_id' => '1',
			'title' => 'Everest Bank's Free Health Camp on 22nd Anniversary',
			'sub_title' => '',
			'summary' => 'October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, t',
			'content' => '<p style="text-align: justify;">October 18: Everest Bank has organised a free health camp on the occasion of its 22nd anniversary at its head office premises on Monday, October 18. Issuing a press statement, the bank informed that the free health camp delivered health check-up services including ENT, Dental, Ophthalmology and Orthopaedic to 250 service seekers. According to the bank, it organised the health camp in order to provide information regarding cure of various diseases in its early stage. &nbsp;The bank informed of organising the health camp under its corporate social responsibility. The bank is providing financial services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 86 ATMs.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-18',
			'modified' => '2016-10-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4433',
			'image' => '20161018110225_everest bank.jpg',
			'article_date' => '2016-10-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '4602',
			'article_category_id' => '1',
			'title' => 'Joint Operation of Civil Bank and ILFCO Starts',
			'sub_title' => '',
			'summary' => 'October 17:  Civil Bank, an ‘A’ Class commercial bank and International Leasing & Finance Company Limited (ILFCO), a ‘C’ Class financial institution are starting their joint operation from today, October 17 after completing their merger process.  ',
			'content' => '<p>October 17: &nbsp;Civil Bank, an &lsquo;A&rsquo; Class commercial bank and International Leasing &amp; Finance Company Limited (ILFCO), a &lsquo;C&rsquo; Class financial institution are starting their joint operation from today, October 17 after completing their merger process. &nbsp;</p>

<p>Issuing a press statement, the bank informed that the name of the newly formed merged entity will be Civil Bank with 51 branch offices across the country. Moreover, the current composition of the board of directors and senior management of Civil Bank will remain unchanged.</p>

<p>&quot;The merger has enhanced the credit expansion capacity and financial strength of the bank and has enabled the bank to expand its business and invest in infrastructure and other industrial projects,&quot; said Kishor Maharjan, CEO of Civil Bank.</p>

<p>Civil Bank has also signed a memorandum of understanding (MoU) for acquisition of Unique Finance and Hama Merchant &amp; Finance in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the Nepal Rastra Bank (NRB) directive. Unique Finance has a paid-up capital of Rs 230 million, whereas Hama Merchant has a paid-up capital of Rs 220 million. After these proposed acquisitions, Civil Bank&rsquo;s paid-up capital will reach Rs 5.54 billion.</p>

<p>&nbsp;&ldquo;The bank will issue bonus and rights shares and also continue to merge with or acquire other institutions simultaneously to meet the minimum paid-up requirement of Rs8 billion,&rdquo; reads the statement.</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4432',
			'image' => '20161017120045_civil.JPG',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '4601',
			'article_category_id' => '1',
			'title' => 'Merger between Om Devt and Manaslu Bikash Bank',
			'sub_title' => '',
			'summary' => 'October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla,',
			'content' => '<p style="text-align: justify;">October 17: Om Development Bank and Manaslu Bikash Bank have decided to merge with each other. Recently, the banks concluded the signing ceremony of memorandum of understanding (MoU) regarding the merger process. According to the banks, the merged entity will be named Om Development Bank. Similarly, Sushil Kumar Goshali, Chairman and Bishwa Mohan Adhikari and Buddi Malla, officials of Om Devt Bank will lead the merged entity as Chairman, CEO and Deputy CEO. Likewise, Durga Ram Puri, Acting General Manager of Manaslu will serve the merged entity as Assistant General Manager.</p>

<p style="text-align: justify;">After the merger, the paid-up capital, deposit collection and loan extensions of the bank will total Rs 1.33 billion, Rs 13.98 billion and Rs 12.61 billion respectively. The branch network of the bank, after merger, will reach 36. The existing headquarter of Om Development Bank in Pokhara will serve as the headquarter of the merged entity as well.</p>

<p style="text-align: justify;">Recently, the board of directors meeting of Om Development Bank and Manaslu Bikash Bank have decided to distribute 29.20 percent and 18.95 percent bonus shares respectively to its shareholders. After the approval of bonus shares from Nepal Rastra Bank and annual general meeting of the banks, the paid-up capital of the merged entity will reach Rs 1.68 billion. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4431',
			'image' => '20161017105949_om and manaslu.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '4600',
			'article_category_id' => '1',
			'title' => 'Century Commercial Bank to acquire Arniko Devt Bank',
			'sub_title' => '',
			'summary' => 'October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February. ',
			'content' => '<p style="text-align: justify;">October 17: Century Commercial Bank is preparing to acquire Arniko Development Bank. The two financial institutions recently signed memorandum of understanding (MoU) regarding the acquirement. Century Bank is targeting to start the joint transaction after completing the acquiring process within mid-February.&nbsp;</p>

<p style="text-align: justify;"><br />
Presently, Century Bank has paid-up capital of Rs 2.84 billion. The bank has also issued right shares of Rs 850 million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4430',
			'image' => '20161017102039_century bank.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '4599',
			'article_category_id' => '1',
			'title' => 'Ncell Bags Frost & Sullivan Nepal Mobile Service Provider 2016',
			'sub_title' => '',
			'summary' => 'October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost & Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost & Sullivan.',
			'content' => '<p style="text-align:justify">October 17: Ncell, the first private mobile operator in Nepal, has been awarded Frost &amp; Sullivan Nepal Mobile Service Provider of the Year 2016 for the second consecutive year. Issuing a press statement, the company informed that the globally recognised award was conferred by international growth partnership company Frost &amp; Sullivan. Moreover, the award is a subset of its prestigious Asia Pacific Best Practices Awards which honours best-in-class companies within a multitude of industries in Asia Pacific, including the Automotive, Energy, Building &amp; Environment, Healthcare and Information Communication Technologies sectors in Asia Pacific.</p>

<p style="text-align:justify">According to the statement, the award recipients were evaluated against a set of stringent criteria, based on a variety of actual market performance indicators which include total subscribers, mobile service revenue, blended Average Revenue per User (&ldquo;ARPU&rdquo;) and ARPU growth and service or business model innovation.</p>

<p style="text-align:justify">&ldquo;We are humbled that our efforts to focus on our customers and fulfil their dynamic connectivity needs have been recognized internationally once again. Frost &amp; Sullivan undertakes a rigorous evaluation process for this award and the achievement is testament of Ncell&rsquo;s exemplary overall growth and best-in-class performance; and a culmination of the hard work and dedication of all our employees in working towards the socio-economic prosperity of Nepal,&quot; said Simon Perkins, &nbsp;Managing Director of Ncell.</p>

<p style="text-align:justify">&ldquo;Heartened by the consecutive recognition, Ncell remains steadfast in implementing significant network enhancements and service innovations for more seamless connectivity across Nepal. We are determined to continue delivering exceptional and sustainable service to the people of Nepal,&quot; Perkins added.</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-17',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4429',
			'image' => '20161017100518_ncell.jpg',
			'article_date' => '2016-10-17 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '4598',
			'article_category_id' => '1',
			'title' => 'Free Viber Zones in Nepal',
			'sub_title' => '',
			'summary' => 'October 16:  Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Café de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. ',
			'content' => '<p>October 16: Messaging app Viber has launched free Viber Zones across Kathmandu. The new service is available in five hotspots of Lalitpur Mall, City Center along with Caf&eacute; de Craft located at Shantinager, New Baneshwor, Nimantrana Restaurant in Kathmandu Mall and in DigiTech Kathmandu situated at Pako New Road. According to the company, Free Viber Zone provides unlimited free internet service powered by Subisu where users can call, text, video call for free using&nbsp;Viber. &ldquo;Users can log on to Free Viber Zone wifi in these spots and can use the service as much as they want,&rdquo; Viber said in a press statement.&nbsp;</p>

<p>&quot;We are introducing Free Viber Zone in Nepal as Nepal has proved to be a promising market for Viber. With the ongoing festive season in Nepal, free Viber Zone service will provide tremendous value to the users. They can celebrate the festive season by communicating with their relatives and friends for free through free Viber Zone service. Viber has also launched &lsquo;Dashain sticker pack&rsquo; that is available to all Nepali users for free.&quot; said Anubhav Nayyar, Regional Head-Viber South Asia.</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-16',
			'modified' => '2016-10-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4428',
			'image' => '20161016042519_IMG_0509.jpg',
			'article_date' => '2016-10-16 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '4597',
			'article_category_id' => '1',
			'title' => 'NRNA Campaign Targets to bring 1.6 million Tourists in Nepal ',
			'sub_title' => '',
			'summary' => 'October 7: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. ',
			'content' => '<p>October 07: Non-Resident Nepali Association (NRNA) has started a campaign to bring 1.6 million tourists in the country within 2017. The umbrella organisation of Nepali diasporas began the campaign which was agreed between Nepal Government and NRNA last year. In a program organised by National Tourism Promotion Committee (NTPC) of NRNA, the plans were unveiled to persuade foreigners in the abovementioned number to visit Nepal number till the end of 2017. The organiser of the campaign has set an objective as per which a NRN should persuade his/her three friends to visit Nepal.</p>

<p>&ldquo;Having network of NRNA in 75 countries around the world, we can contribute significantly for the promotion of Nepali tourism,&rdquo; said Sesh Ghale, President of NRN. He further added, &ldquo;NRNA is conducting different programs related to tourism including &lsquo;Atithi Devo Bhawa&rsquo; on the 75 countries in cooperation with Nepal Government and Nepal Tourism Board (NTB).&rdquo;</p>

<p>Stating that more than 5 million Nepalis are residing abroad at present, Bhawan Bhatta, Vice-President of the NRNA and Chairman of NTPC expressed the commitment of diasporas for the major contribution to promote Nepal globally.</p>

<p style="text-align:justify">Meanwhile, Shankar Prasad Adhikari, Secretary of Ministry of Culture, Tourism and Civil Aviation said the government will cooperate with NRNA for the promotion of tourism. Similarly, Deepak Raj Joshi, CEO of NTB mentioned that the Board will cooperate with the association for the promotion of Nepali tourism.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-07',
			'modified' => '2016-10-07',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4427',
			'image' => '20161007030827_NRNA.jpg',
			'article_date' => '2016-10-07 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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