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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2250', 'article_category_id' => '109', 'title' => 'Top Ten Losers (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Top Ten Losers', 'sortorder' => '2092', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2246', 'article_category_id' => '109', 'title' => 'Standard Chartered’s 50pc Dividend Endorsed', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Standard Chartered Bank Ltd is distributing 50 per cent dividend to its shareholders. The 27th Annual General Meeting of the Bank held last Tuesday in capital approved the proposal of distributing 40 per cent cash dividend and 10 per cent bonus shares to its shareholders. The Bank posted Rs 1.22 billion net profit in the Fiscal Year 2012-13. According to a press release of the Bank, the net profit is 4.2 per cent higher than the last fiscal year. </div> <div> </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Standard Chartered Bank Ltd is distributing 50 per cent dividend to its shareholders.', 'sortorder' => '2089', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2245', 'article_category_id' => '109', 'title' => 'Fin Sector Reform Efforts Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform. The meeting also focused on formulation of a financial sector development strategy, restructuring of Nepal Bank Ltd. (NBL) and Rastriya Banijya Bank and increasing the capital structure of Nepal Rastra Bank, according to a press release issued by the Finance Ministry.</div> <div> </div> <div> During the meeting, Finance Secretary Subedi told Jaffrin that Nepal has made a remarkable progress on the issue of anti money laundering at legal, policy and implementation level. Subedi further told Jaffrin that the ministry was working seriously towards increasing the capital spending. </div> <div> </div> <div> World Bank has been providing support to Nepal on banking and financial reform programmes. The World Bank has provided a US$ 30 million credit to help Nepal accelerate its financial sector reform program to reduce vulnerability of the banking sector and increase its transparency. </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform.', 'sortorder' => '2087', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2186', 'article_category_id' => '109', 'title' => 'Nepse Plunges As Investors Opt Profit Booking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">tock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95. </span></div> <div> </div> <div> Nepse has opened at 656.75 points on the first trading day. Circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day. The positive vibes among the investors following the Constituent Assembly polls have boosted the Nepal’s bourse. Though the immense investment seen in the market flared up Nepse for two trading days last week, the index observed a minor correction on the rest of the days during the trading week. </div> <div> </div> <div> During the week, a total of 45,495,454 units of shares through 13218 transactions worth Rs 1.608 billion were traded in the market. The amount, units of shares and number of transactions are significantly higher than those of previous weeks. </div> <div> </div> <div> The political environment has become a major factor for the rise of the Nepse index. Stating that almost all of the listed companies have already distributed the dividends to the share holders, stock analysts say that the investors should be cautious while making their investment now as the profit highly depends on the market volatility. </div> <div> </div> <div> Narendra Sijapati, president of the Stockbrokers Association Nepal, does not see any possibility of Nepse going down substantially anytime soon. He is upbeat about the market prospects due to the victory of ‘democratic parties’ in the CA polls. . “Though there was a marginal correction last week, the overall market is in the rising trend. A big boost can be expected in coming weeks as soon as the government formation process kicks off,” said Sijapati. </div> <div> </div> <div> Nepal Bank Ltd was the company with the highest transaction and the highest turnover. Insurance sector was the highest gainer with its sub-index moving up by 144.45 points. It was followed by Hotel (up by 106.58 points), Development Banks (up by 12.8 points and Manufacturing & Production (up by 0.06 points). Towards the losers, sub-indices of Banks, Finance, Hydropower, Other and Trading sectors observed decline.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/indx%20(Copy).jpg" style="width: 550px; height: 300px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The index gained 8.03 points from Thursday (Nov 28) close. All the sectors saw increment on the first day in the trading floor this week. Nepse index closed at 651.98 points on Sunday (December 1). </div> <div> </div> <div> The highest gainer was Hotels sector with its index up by 77.38 points settling at 1089.58. The Hotels sector was followed by Insurance (up by 43.79 points), Hydropower (up by 12.54 points), Banking (up by 7.83 points), Development Banks (up by 6.03 points) and Finance (up by 1.17 points). The index of Others sector remained unchanged.</div> <div> </div> <div> A total of 1,024,805 units of shares of 109 companies worth Rs 660.7 million were traded through 2451 transactions. </div>', 'published' => true, 'created' => '2013-12-01', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95.', 'sortorder' => '2069', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2166', 'article_category_id' => '109', 'title' => 'Garima At 7th Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">G</span><span style="font-size: 12px;">arima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches. The Bank has started providing its micro loan service also to the male entrepreneurs. Earlier, this loan scheme was only provided to the women entrepreneurs. The Bank has distributed 20 per cent bonus shares and 5 per cent cash dividend to its shareholders as approved by the last Annual General Assembly of the Company. The Bank has the authorised capital of Rs 1 billion. </span></div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Garima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches', 'sortorder' => '2014', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2165', 'article_category_id' => '109', 'title' => 'Remittance Flow Growth Rate Tumbles', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> R<span style="font-size: 12px;">emittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2112', 'article_category_id' => '109', 'title' => 'Nepse Observes Meager Gain', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week. </span></div> <div> </div> <div> On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div> <div> </div> <div> The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the Hotel sector index also increased by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss. </div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> Nepse index inclined 1 point on the first day of this week closing at 580. A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div> <div> </div> <div> Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.', 'sortorder' => '1984', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2117', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief ( 11 - 17 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Om to Issue Debenture</strong></span></div> <div> Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders. The paid-up capital of the Company will reach Rs 325.7 million after distributing bonus shares. The Company has collected a total deposit amount Rs 3.24 billion rupees by mid July of last Fiscal year, while it floated the loan worth Rs 3.24 billion. </div> <div> </div> <div> <span style="font-size:14px;"><strong>7.37pc Dividend of Axis</strong></span></div> <div> Axis Development Bank Ltd has said that it will distribute 7.37 per cent cash dividend to its share holders. The Annual General Meeting (AGM) of the Bank held at Dhulikhel last Thursday approved the decision of dividend distribution. Chairman Bidur Dhamala presented the financial report of the Fiscal Year 2012-13 during the AGM. According to the report, the Bank has collected the total deposit amount Rs 1.57 billion as of mid July of 1013. The Bank has said that the amount is 51.47 per cent higher than the previous Fiscal Year. Likewise, the total amount of the loan floated by the bank has reached 1.67 billion in the review period. The Company has the paid-up capital of worth Rs 718 million rupees. The Bank, headquartered at Hattisar in Kathmandu, has its branches in Banepa, Khurkhure, Parbatipur, Tandi, Pokhara, Hetauda, Narayangadh, Itahari, Gaighaat and Sindhuli.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki’s Shares Listed</strong></span></div> <div> 700,000 units of share worth Rs700 million of Gandaki Development Bank have been listed in Nepal Stock Exchange (NEPSE). The Bank issued this scrip from August 11 to September 15. 3,200,000 units including rights shares of the Bank can now be traded at NEPSE. According to acting chief of the company, the Bank has the authorised capital of Rs 400 million and paid-up capital of Rs 320 million. The Bank, headquartered at Pokhara, has 16 branches in 10 districts.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Diyo’s 15pc Dividend Approved</strong></span></div> <div> Diyo Saving and Credit Cooperative Ltd has decided to distribute 15 per cent dividend to its shareholders. Company’s Annual General Meeting held last week made the decision to this effect. According to company’s chairman Bikash Thapa, the total deposit has reached Rs 58.9 million and extended a total of Rs 55 million as loans until the end of Fiscal Year 2012-13. It has earned Rs 2.1 million profit in the review period, said the Company.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Branch at Jajarkot</strong></span></div> <div> Citizens Bank International Ltd has established branch office at Khalanga in Jajarkot. Bank’s Assistant General Manager Ganesh Raj Pokhrel inaugurated the newly established branch office amid a function at Khalanga last Friday. Now, the Bank’s total number of branches has reached 36. Speaking at the inaugural function, Pokhrel said that the branch was established to provide banking services of international standard to the people of Jajarkot. The customers will get remittance, draft, Visa, ATM Card, modern mobile banking and other banking services from the branch. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders.', 'sortorder' => '1962', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2116', 'article_category_id' => '109', 'title' => 'Global IME, Emirates, Al Amana Ink Agreement', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/ime(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 250px; height: 53px;" />G</span><span style="font-size: 12px;">lobal IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal. The Bank has 72 branches and 2 thousand 5 hundred agents across the country. Global IME has been providing remittance services in the UAE, Qatar, Bahrain, India, the UK and </span></div> <div> S Korea.</div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal.', 'sortorder' => '1961', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2115', 'article_category_id' => '109', 'title' => 'Clean Energy Announces Bonus', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/clean.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 63px;" />C</span><span style="font-size: 12px;">lean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect. The decision is, however, subjected to be the approval of the Company’s Annual General Meeting and Nepal Rastra Bank. The Bank has posted a profit of Rs 176.8 million in the Fiscal Year 2012-13.</span></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Clean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect.', 'sortorder' => '1960', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The 27th Annual General Meeting of the Bank held last Tuesday in capital approved the proposal of distributing 40 per cent cash dividend and 10 per cent bonus shares to its shareholders. The Bank posted Rs 1.22 billion net profit in the Fiscal Year 2012-13. According to a press release of the Bank, the net profit is 4.2 per cent higher than the last fiscal year. </div> <div> </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Standard Chartered Bank Ltd is distributing 50 per cent dividend to its shareholders.', 'sortorder' => '2089', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2245', 'article_category_id' => '109', 'title' => 'Fin Sector Reform Efforts Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform. The meeting also focused on formulation of a financial sector development strategy, restructuring of Nepal Bank Ltd. (NBL) and Rastriya Banijya Bank and increasing the capital structure of Nepal Rastra Bank, according to a press release issued by the Finance Ministry.</div> <div> </div> <div> During the meeting, Finance Secretary Subedi told Jaffrin that Nepal has made a remarkable progress on the issue of anti money laundering at legal, policy and implementation level. Subedi further told Jaffrin that the ministry was working seriously towards increasing the capital spending. </div> <div> </div> <div> World Bank has been providing support to Nepal on banking and financial reform programmes. The World Bank has provided a US$ 30 million credit to help Nepal accelerate its financial sector reform program to reduce vulnerability of the banking sector and increase its transparency. </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform.', 'sortorder' => '2087', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2186', 'article_category_id' => '109', 'title' => 'Nepse Plunges As Investors Opt Profit Booking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">tock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95. </span></div> <div> </div> <div> Nepse has opened at 656.75 points on the first trading day. Circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day. The positive vibes among the investors following the Constituent Assembly polls have boosted the Nepal’s bourse. Though the immense investment seen in the market flared up Nepse for two trading days last week, the index observed a minor correction on the rest of the days during the trading week. </div> <div> </div> <div> During the week, a total of 45,495,454 units of shares through 13218 transactions worth Rs 1.608 billion were traded in the market. The amount, units of shares and number of transactions are significantly higher than those of previous weeks. </div> <div> </div> <div> The political environment has become a major factor for the rise of the Nepse index. Stating that almost all of the listed companies have already distributed the dividends to the share holders, stock analysts say that the investors should be cautious while making their investment now as the profit highly depends on the market volatility. </div> <div> </div> <div> Narendra Sijapati, president of the Stockbrokers Association Nepal, does not see any possibility of Nepse going down substantially anytime soon. He is upbeat about the market prospects due to the victory of ‘democratic parties’ in the CA polls. . “Though there was a marginal correction last week, the overall market is in the rising trend. A big boost can be expected in coming weeks as soon as the government formation process kicks off,” said Sijapati. </div> <div> </div> <div> Nepal Bank Ltd was the company with the highest transaction and the highest turnover. Insurance sector was the highest gainer with its sub-index moving up by 144.45 points. It was followed by Hotel (up by 106.58 points), Development Banks (up by 12.8 points and Manufacturing & Production (up by 0.06 points). Towards the losers, sub-indices of Banks, Finance, Hydropower, Other and Trading sectors observed decline.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/indx%20(Copy).jpg" style="width: 550px; height: 300px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The index gained 8.03 points from Thursday (Nov 28) close. All the sectors saw increment on the first day in the trading floor this week. Nepse index closed at 651.98 points on Sunday (December 1). </div> <div> </div> <div> The highest gainer was Hotels sector with its index up by 77.38 points settling at 1089.58. The Hotels sector was followed by Insurance (up by 43.79 points), Hydropower (up by 12.54 points), Banking (up by 7.83 points), Development Banks (up by 6.03 points) and Finance (up by 1.17 points). The index of Others sector remained unchanged.</div> <div> </div> <div> A total of 1,024,805 units of shares of 109 companies worth Rs 660.7 million were traded through 2451 transactions. </div>', 'published' => true, 'created' => '2013-12-01', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95.', 'sortorder' => '2069', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2166', 'article_category_id' => '109', 'title' => 'Garima At 7th Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">G</span><span style="font-size: 12px;">arima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches. The Bank has started providing its micro loan service also to the male entrepreneurs. Earlier, this loan scheme was only provided to the women entrepreneurs. The Bank has distributed 20 per cent bonus shares and 5 per cent cash dividend to its shareholders as approved by the last Annual General Assembly of the Company. The Bank has the authorised capital of Rs 1 billion. </span></div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Garima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches', 'sortorder' => '2014', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2165', 'article_category_id' => '109', 'title' => 'Remittance Flow Growth Rate Tumbles', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> R<span style="font-size: 12px;">emittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2112', 'article_category_id' => '109', 'title' => 'Nepse Observes Meager Gain', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week. </span></div> <div> </div> <div> On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div> <div> </div> <div> The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the Hotel sector index also increased by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss. </div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> Nepse index inclined 1 point on the first day of this week closing at 580. A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div> <div> </div> <div> Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.', 'sortorder' => '1984', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2117', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief ( 11 - 17 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Om to Issue Debenture</strong></span></div> <div> Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders. The paid-up capital of the Company will reach Rs 325.7 million after distributing bonus shares. The Company has collected a total deposit amount Rs 3.24 billion rupees by mid July of last Fiscal year, while it floated the loan worth Rs 3.24 billion. </div> <div> </div> <div> <span style="font-size:14px;"><strong>7.37pc Dividend of Axis</strong></span></div> <div> Axis Development Bank Ltd has said that it will distribute 7.37 per cent cash dividend to its share holders. The Annual General Meeting (AGM) of the Bank held at Dhulikhel last Thursday approved the decision of dividend distribution. Chairman Bidur Dhamala presented the financial report of the Fiscal Year 2012-13 during the AGM. According to the report, the Bank has collected the total deposit amount Rs 1.57 billion as of mid July of 1013. The Bank has said that the amount is 51.47 per cent higher than the previous Fiscal Year. Likewise, the total amount of the loan floated by the bank has reached 1.67 billion in the review period. The Company has the paid-up capital of worth Rs 718 million rupees. The Bank, headquartered at Hattisar in Kathmandu, has its branches in Banepa, Khurkhure, Parbatipur, Tandi, Pokhara, Hetauda, Narayangadh, Itahari, Gaighaat and Sindhuli.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki’s Shares Listed</strong></span></div> <div> 700,000 units of share worth Rs700 million of Gandaki Development Bank have been listed in Nepal Stock Exchange (NEPSE). The Bank issued this scrip from August 11 to September 15. 3,200,000 units including rights shares of the Bank can now be traded at NEPSE. According to acting chief of the company, the Bank has the authorised capital of Rs 400 million and paid-up capital of Rs 320 million. The Bank, headquartered at Pokhara, has 16 branches in 10 districts.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Diyo’s 15pc Dividend Approved</strong></span></div> <div> Diyo Saving and Credit Cooperative Ltd has decided to distribute 15 per cent dividend to its shareholders. Company’s Annual General Meeting held last week made the decision to this effect. According to company’s chairman Bikash Thapa, the total deposit has reached Rs 58.9 million and extended a total of Rs 55 million as loans until the end of Fiscal Year 2012-13. It has earned Rs 2.1 million profit in the review period, said the Company.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Branch at Jajarkot</strong></span></div> <div> Citizens Bank International Ltd has established branch office at Khalanga in Jajarkot. Bank’s Assistant General Manager Ganesh Raj Pokhrel inaugurated the newly established branch office amid a function at Khalanga last Friday. Now, the Bank’s total number of branches has reached 36. Speaking at the inaugural function, Pokhrel said that the branch was established to provide banking services of international standard to the people of Jajarkot. The customers will get remittance, draft, Visa, ATM Card, modern mobile banking and other banking services from the branch. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders.', 'sortorder' => '1962', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2116', 'article_category_id' => '109', 'title' => 'Global IME, Emirates, Al Amana Ink Agreement', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/ime(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 250px; height: 53px;" />G</span><span style="font-size: 12px;">lobal IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal. The Bank has 72 branches and 2 thousand 5 hundred agents across the country. Global IME has been providing remittance services in the UAE, Qatar, Bahrain, India, the UK and </span></div> <div> S Korea.</div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal.', 'sortorder' => '1961', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2115', 'article_category_id' => '109', 'title' => 'Clean Energy Announces Bonus', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/clean.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 63px;" />C</span><span style="font-size: 12px;">lean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect. The decision is, however, subjected to be the approval of the Company’s Annual General Meeting and Nepal Rastra Bank. The Bank has posted a profit of Rs 176.8 million in the Fiscal Year 2012-13.</span></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Clean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect.', 'sortorder' => '1960', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The 27th Annual General Meeting of the Bank held last Tuesday in capital approved the proposal of distributing 40 per cent cash dividend and 10 per cent bonus shares to its shareholders. The Bank posted Rs 1.22 billion net profit in the Fiscal Year 2012-13. According to a press release of the Bank, the net profit is 4.2 per cent higher than the last fiscal year. </div> <div> </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Standard Chartered Bank Ltd is distributing 50 per cent dividend to its shareholders.', 'sortorder' => '2089', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2245', 'article_category_id' => '109', 'title' => 'Fin Sector Reform Efforts Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform. The meeting also focused on formulation of a financial sector development strategy, restructuring of Nepal Bank Ltd. (NBL) and Rastriya Banijya Bank and increasing the capital structure of Nepal Rastra Bank, according to a press release issued by the Finance Ministry.</div> <div> </div> <div> During the meeting, Finance Secretary Subedi told Jaffrin that Nepal has made a remarkable progress on the issue of anti money laundering at legal, policy and implementation level. Subedi further told Jaffrin that the ministry was working seriously towards increasing the capital spending. </div> <div> </div> <div> World Bank has been providing support to Nepal on banking and financial reform programmes. The World Bank has provided a US$ 30 million credit to help Nepal accelerate its financial sector reform program to reduce vulnerability of the banking sector and increase its transparency. </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform.', 'sortorder' => '2087', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2186', 'article_category_id' => '109', 'title' => 'Nepse Plunges As Investors Opt Profit Booking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">tock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95. </span></div> <div> </div> <div> Nepse has opened at 656.75 points on the first trading day. Circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day. The positive vibes among the investors following the Constituent Assembly polls have boosted the Nepal’s bourse. Though the immense investment seen in the market flared up Nepse for two trading days last week, the index observed a minor correction on the rest of the days during the trading week. </div> <div> </div> <div> During the week, a total of 45,495,454 units of shares through 13218 transactions worth Rs 1.608 billion were traded in the market. The amount, units of shares and number of transactions are significantly higher than those of previous weeks. </div> <div> </div> <div> The political environment has become a major factor for the rise of the Nepse index. Stating that almost all of the listed companies have already distributed the dividends to the share holders, stock analysts say that the investors should be cautious while making their investment now as the profit highly depends on the market volatility. </div> <div> </div> <div> Narendra Sijapati, president of the Stockbrokers Association Nepal, does not see any possibility of Nepse going down substantially anytime soon. He is upbeat about the market prospects due to the victory of ‘democratic parties’ in the CA polls. . “Though there was a marginal correction last week, the overall market is in the rising trend. A big boost can be expected in coming weeks as soon as the government formation process kicks off,” said Sijapati. </div> <div> </div> <div> Nepal Bank Ltd was the company with the highest transaction and the highest turnover. Insurance sector was the highest gainer with its sub-index moving up by 144.45 points. It was followed by Hotel (up by 106.58 points), Development Banks (up by 12.8 points and Manufacturing & Production (up by 0.06 points). Towards the losers, sub-indices of Banks, Finance, Hydropower, Other and Trading sectors observed decline.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/indx%20(Copy).jpg" style="width: 550px; height: 300px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The index gained 8.03 points from Thursday (Nov 28) close. All the sectors saw increment on the first day in the trading floor this week. Nepse index closed at 651.98 points on Sunday (December 1). </div> <div> </div> <div> The highest gainer was Hotels sector with its index up by 77.38 points settling at 1089.58. The Hotels sector was followed by Insurance (up by 43.79 points), Hydropower (up by 12.54 points), Banking (up by 7.83 points), Development Banks (up by 6.03 points) and Finance (up by 1.17 points). The index of Others sector remained unchanged.</div> <div> </div> <div> A total of 1,024,805 units of shares of 109 companies worth Rs 660.7 million were traded through 2451 transactions. </div>', 'published' => true, 'created' => '2013-12-01', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95.', 'sortorder' => '2069', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2166', 'article_category_id' => '109', 'title' => 'Garima At 7th Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">G</span><span style="font-size: 12px;">arima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches. The Bank has started providing its micro loan service also to the male entrepreneurs. Earlier, this loan scheme was only provided to the women entrepreneurs. The Bank has distributed 20 per cent bonus shares and 5 per cent cash dividend to its shareholders as approved by the last Annual General Assembly of the Company. The Bank has the authorised capital of Rs 1 billion. </span></div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Garima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches', 'sortorder' => '2014', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2165', 'article_category_id' => '109', 'title' => 'Remittance Flow Growth Rate Tumbles', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> R<span style="font-size: 12px;">emittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2112', 'article_category_id' => '109', 'title' => 'Nepse Observes Meager Gain', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week. </span></div> <div> </div> <div> On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div> <div> </div> <div> The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the Hotel sector index also increased by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss. </div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> Nepse index inclined 1 point on the first day of this week closing at 580. A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div> <div> </div> <div> Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.', 'sortorder' => '1984', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2117', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief ( 11 - 17 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Om to Issue Debenture</strong></span></div> <div> Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders. The paid-up capital of the Company will reach Rs 325.7 million after distributing bonus shares. The Company has collected a total deposit amount Rs 3.24 billion rupees by mid July of last Fiscal year, while it floated the loan worth Rs 3.24 billion. </div> <div> </div> <div> <span style="font-size:14px;"><strong>7.37pc Dividend of Axis</strong></span></div> <div> Axis Development Bank Ltd has said that it will distribute 7.37 per cent cash dividend to its share holders. The Annual General Meeting (AGM) of the Bank held at Dhulikhel last Thursday approved the decision of dividend distribution. Chairman Bidur Dhamala presented the financial report of the Fiscal Year 2012-13 during the AGM. According to the report, the Bank has collected the total deposit amount Rs 1.57 billion as of mid July of 1013. The Bank has said that the amount is 51.47 per cent higher than the previous Fiscal Year. Likewise, the total amount of the loan floated by the bank has reached 1.67 billion in the review period. The Company has the paid-up capital of worth Rs 718 million rupees. The Bank, headquartered at Hattisar in Kathmandu, has its branches in Banepa, Khurkhure, Parbatipur, Tandi, Pokhara, Hetauda, Narayangadh, Itahari, Gaighaat and Sindhuli.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki’s Shares Listed</strong></span></div> <div> 700,000 units of share worth Rs700 million of Gandaki Development Bank have been listed in Nepal Stock Exchange (NEPSE). The Bank issued this scrip from August 11 to September 15. 3,200,000 units including rights shares of the Bank can now be traded at NEPSE. According to acting chief of the company, the Bank has the authorised capital of Rs 400 million and paid-up capital of Rs 320 million. The Bank, headquartered at Pokhara, has 16 branches in 10 districts.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Diyo’s 15pc Dividend Approved</strong></span></div> <div> Diyo Saving and Credit Cooperative Ltd has decided to distribute 15 per cent dividend to its shareholders. Company’s Annual General Meeting held last week made the decision to this effect. According to company’s chairman Bikash Thapa, the total deposit has reached Rs 58.9 million and extended a total of Rs 55 million as loans until the end of Fiscal Year 2012-13. It has earned Rs 2.1 million profit in the review period, said the Company.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Branch at Jajarkot</strong></span></div> <div> Citizens Bank International Ltd has established branch office at Khalanga in Jajarkot. Bank’s Assistant General Manager Ganesh Raj Pokhrel inaugurated the newly established branch office amid a function at Khalanga last Friday. Now, the Bank’s total number of branches has reached 36. Speaking at the inaugural function, Pokhrel said that the branch was established to provide banking services of international standard to the people of Jajarkot. The customers will get remittance, draft, Visa, ATM Card, modern mobile banking and other banking services from the branch. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders.', 'sortorder' => '1962', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2116', 'article_category_id' => '109', 'title' => 'Global IME, Emirates, Al Amana Ink Agreement', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/ime(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 250px; height: 53px;" />G</span><span style="font-size: 12px;">lobal IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal. The Bank has 72 branches and 2 thousand 5 hundred agents across the country. Global IME has been providing remittance services in the UAE, Qatar, Bahrain, India, the UK and </span></div> <div> S Korea.</div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal.', 'sortorder' => '1961', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2115', 'article_category_id' => '109', 'title' => 'Clean Energy Announces Bonus', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/clean.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 63px;" />C</span><span style="font-size: 12px;">lean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect. The decision is, however, subjected to be the approval of the Company’s Annual General Meeting and Nepal Rastra Bank. The Bank has posted a profit of Rs 176.8 million in the Fiscal Year 2012-13.</span></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Clean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect.', 'sortorder' => '1960', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The 27th Annual General Meeting of the Bank held last Tuesday in capital approved the proposal of distributing 40 per cent cash dividend and 10 per cent bonus shares to its shareholders. The Bank posted Rs 1.22 billion net profit in the Fiscal Year 2012-13. According to a press release of the Bank, the net profit is 4.2 per cent higher than the last fiscal year. </div> <div> </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Standard Chartered Bank Ltd is distributing 50 per cent dividend to its shareholders.', 'sortorder' => '2089', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2245', 'article_category_id' => '109', 'title' => 'Fin Sector Reform Efforts Lauded', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform. The meeting also focused on formulation of a financial sector development strategy, restructuring of Nepal Bank Ltd. (NBL) and Rastriya Banijya Bank and increasing the capital structure of Nepal Rastra Bank, according to a press release issued by the Finance Ministry.</div> <div> </div> <div> During the meeting, Finance Secretary Subedi told Jaffrin that Nepal has made a remarkable progress on the issue of anti money laundering at legal, policy and implementation level. Subedi further told Jaffrin that the ministry was working seriously towards increasing the capital spending. </div> <div> </div> <div> World Bank has been providing support to Nepal on banking and financial reform programmes. The World Bank has provided a US$ 30 million credit to help Nepal accelerate its financial sector reform program to reduce vulnerability of the banking sector and increase its transparency. </div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'World Bank has lauded Nepal’s efforts towards budget implementation, financial sector reform and anti money laundering. A team of delegates led by Guillemette Jaffrin, Private Sector Development Expert at the World Bank, met Finance Secretary Shanta Raj Subedi last Thursday and discussed Nepal’s overall economic development and financial sector reform.', 'sortorder' => '2087', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2186', 'article_category_id' => '109', 'title' => 'Nepse Plunges As Investors Opt Profit Booking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">tock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95. </span></div> <div> </div> <div> Nepse has opened at 656.75 points on the first trading day. Circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day. The positive vibes among the investors following the Constituent Assembly polls have boosted the Nepal’s bourse. Though the immense investment seen in the market flared up Nepse for two trading days last week, the index observed a minor correction on the rest of the days during the trading week. </div> <div> </div> <div> During the week, a total of 45,495,454 units of shares through 13218 transactions worth Rs 1.608 billion were traded in the market. The amount, units of shares and number of transactions are significantly higher than those of previous weeks. </div> <div> </div> <div> The political environment has become a major factor for the rise of the Nepse index. Stating that almost all of the listed companies have already distributed the dividends to the share holders, stock analysts say that the investors should be cautious while making their investment now as the profit highly depends on the market volatility. </div> <div> </div> <div> Narendra Sijapati, president of the Stockbrokers Association Nepal, does not see any possibility of Nepse going down substantially anytime soon. He is upbeat about the market prospects due to the victory of ‘democratic parties’ in the CA polls. . “Though there was a marginal correction last week, the overall market is in the rising trend. A big boost can be expected in coming weeks as soon as the government formation process kicks off,” said Sijapati. </div> <div> </div> <div> Nepal Bank Ltd was the company with the highest transaction and the highest turnover. Insurance sector was the highest gainer with its sub-index moving up by 144.45 points. It was followed by Hotel (up by 106.58 points), Development Banks (up by 12.8 points and Manufacturing & Production (up by 0.06 points). Towards the losers, sub-indices of Banks, Finance, Hydropower, Other and Trading sectors observed decline.</div> <div> </div> <div> <img alt="Index" src="/userfiles/images/indx%20(Copy).jpg" style="width: 550px; height: 300px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The index gained 8.03 points from Thursday (Nov 28) close. All the sectors saw increment on the first day in the trading floor this week. Nepse index closed at 651.98 points on Sunday (December 1). </div> <div> </div> <div> The highest gainer was Hotels sector with its index up by 77.38 points settling at 1089.58. The Hotels sector was followed by Insurance (up by 43.79 points), Hydropower (up by 12.54 points), Banking (up by 7.83 points), Development Banks (up by 6.03 points) and Finance (up by 1.17 points). The index of Others sector remained unchanged.</div> <div> </div> <div> A total of 1,024,805 units of shares of 109 companies worth Rs 660.7 million were traded through 2451 transactions. </div>', 'published' => true, 'created' => '2013-12-01', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95.', 'sortorder' => '2069', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2166', 'article_category_id' => '109', 'title' => 'Garima At 7th Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">G</span><span style="font-size: 12px;">arima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches. The Bank has started providing its micro loan service also to the male entrepreneurs. Earlier, this loan scheme was only provided to the women entrepreneurs. The Bank has distributed 20 per cent bonus shares and 5 per cent cash dividend to its shareholders as approved by the last Annual General Assembly of the Company. The Bank has the authorised capital of Rs 1 billion. </span></div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Garima Development Bank Ltd has entered the seventh year of operation from last Friday. So far, the Bank has collected Rs 3.50 billion deposit and extended a total of Rs 2.75 billion loan. According to Chief Executive Officer (CEO) of the Bank, Govinda Prashad Dhakal, it has been serving 70 thousand customers through its 14 branches', 'sortorder' => '2014', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2165', 'article_category_id' => '109', 'title' => 'Remittance Flow Growth Rate Tumbles', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> R<span style="font-size: 12px;">emittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2112', 'article_category_id' => '109', 'title' => 'Nepse Observes Meager Gain', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week. </span></div> <div> </div> <div> On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div> <div> </div> <div> The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the Hotel sector index also increased by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss. </div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> Nepse index inclined 1 point on the first day of this week closing at 580. A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div> <div> </div> <div> Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div> <div> </div> <div> <img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.', 'sortorder' => '1984', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2117', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief ( 11 - 17 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Om to Issue Debenture</strong></span></div> <div> Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders. The paid-up capital of the Company will reach Rs 325.7 million after distributing bonus shares. The Company has collected a total deposit amount Rs 3.24 billion rupees by mid July of last Fiscal year, while it floated the loan worth Rs 3.24 billion. </div> <div> </div> <div> <span style="font-size:14px;"><strong>7.37pc Dividend of Axis</strong></span></div> <div> Axis Development Bank Ltd has said that it will distribute 7.37 per cent cash dividend to its share holders. The Annual General Meeting (AGM) of the Bank held at Dhulikhel last Thursday approved the decision of dividend distribution. Chairman Bidur Dhamala presented the financial report of the Fiscal Year 2012-13 during the AGM. According to the report, the Bank has collected the total deposit amount Rs 1.57 billion as of mid July of 1013. The Bank has said that the amount is 51.47 per cent higher than the previous Fiscal Year. Likewise, the total amount of the loan floated by the bank has reached 1.67 billion in the review period. The Company has the paid-up capital of worth Rs 718 million rupees. The Bank, headquartered at Hattisar in Kathmandu, has its branches in Banepa, Khurkhure, Parbatipur, Tandi, Pokhara, Hetauda, Narayangadh, Itahari, Gaighaat and Sindhuli.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Gandaki’s Shares Listed</strong></span></div> <div> 700,000 units of share worth Rs700 million of Gandaki Development Bank have been listed in Nepal Stock Exchange (NEPSE). The Bank issued this scrip from August 11 to September 15. 3,200,000 units including rights shares of the Bank can now be traded at NEPSE. According to acting chief of the company, the Bank has the authorised capital of Rs 400 million and paid-up capital of Rs 320 million. The Bank, headquartered at Pokhara, has 16 branches in 10 districts.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Diyo’s 15pc Dividend Approved</strong></span></div> <div> Diyo Saving and Credit Cooperative Ltd has decided to distribute 15 per cent dividend to its shareholders. Company’s Annual General Meeting held last week made the decision to this effect. According to company’s chairman Bikash Thapa, the total deposit has reached Rs 58.9 million and extended a total of Rs 55 million as loans until the end of Fiscal Year 2012-13. It has earned Rs 2.1 million profit in the review period, said the Company.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Citizens Branch at Jajarkot</strong></span></div> <div> Citizens Bank International Ltd has established branch office at Khalanga in Jajarkot. Bank’s Assistant General Manager Ganesh Raj Pokhrel inaugurated the newly established branch office amid a function at Khalanga last Friday. Now, the Bank’s total number of branches has reached 36. Speaking at the inaugural function, Pokhrel said that the branch was established to provide banking services of international standard to the people of Jajarkot. The customers will get remittance, draft, Visa, ATM Card, modern mobile banking and other banking services from the branch. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Om Finance has said that it is going to issue the debentures. The Annual General Meeting of the Company held recently has granted the authority to the Board of Directors (BOD) to issue debentures worth Rs 200 million. The AGM has also approved the proposal to provide 20 per cent bonus share and 5 per cent cash dividend to its share holders.', 'sortorder' => '1962', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2116', 'article_category_id' => '109', 'title' => 'Global IME, Emirates, Al Amana Ink Agreement', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/ime(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 250px; height: 53px;" />G</span><span style="font-size: 12px;">lobal IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal. The Bank has 72 branches and 2 thousand 5 hundred agents across the country. Global IME has been providing remittance services in the UAE, Qatar, Bahrain, India, the UK and </span></div> <div> S Korea.</div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global IME Bank has struck an agreement with Emirates India International, UAE, and Al Amana Exchange, Qatar. Bank’s Chief Executive Officer (CEO) Ratna Raj Bajracharya, Emirates India International chairman Humaid Mohammed Shattaf and Al Amana Exchange Director Tariq Omar H. A. Almana signed an agreement recently. Following the agreement, money sent from all branches of Al Amana Exchange, Qatara and Emirates India International can be received from any branches of the Global IME Bank in Nepal.', 'sortorder' => '1961', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2115', 'article_category_id' => '109', 'title' => 'Clean Energy Announces Bonus', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="" src="/userfiles/images/clean.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 63px;" />C</span><span style="font-size: 12px;">lean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect. The decision is, however, subjected to be the approval of the Company’s Annual General Meeting and Nepal Rastra Bank. The Bank has posted a profit of Rs 176.8 million in the Fiscal Year 2012-13.</span></div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Clean Energy Development Bank has announced that it will distribute 5 per cent bonus share and 5.52 per cent cash dividend to its share holders. The 135th meeting of the Board of Directors (BOD) of the company held recently made the decision to this effect.', 'sortorder' => '1960', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
