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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' => '1524', 'article_category_id' => '109', 'title' => 'CRR Rates Revised', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Nepal Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs). As per the new circular issued by NRB on July 28 (Sunday), ‘A’ class BFIs should maintain a CRR of 5.0 percent, ‘B’ class BFIs should maintain 4.5 percent and ‘C’class BFIs should maintain 4.0 percent. Previously, the ratios were 6.0 percent, 5.5 percent and 5.0 percent, respectively. </div> <div> </div> <div> NRB has directed to invest ‘A’, ‘B’ and ‘C’ class BFIs a minimum of 4.5 percent, 4.0 percent and 3.5 percent, respectively of the total loan and advance on deprived sector loans. </div> <div> </div> <div> The new circular has also extended the maximum duration of 21 days for repo and reverse repo auction periods and revised the provision on refinancing. As per the new provision, the interest rate for normal refinancing has been maintained at 5.0 percent. The circular also directed not to take more than 9.0 percent from the borrower. </div> <div> </div> <div> Interest rates on special refinancing through loan flown (mainly to small and cottage industry, foreign employment and sick industry) should be given at 1 percent annually. BFIs could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> Similarly, BFIs can provide export refinances to exim businesses at 1.0 percent on the basis of good loan collaterals, but they could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> NRB has also directed to provide a refinancing facility to small and medium scale industry loans at 5.0 percent per annum on the collateral of good loan of the borrower. However, BFIs could not take more than 10.0 percent from the borrower as per the new circular.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs).', 'sortorder' => '1385', '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' => '1523', 'article_category_id' => '109', 'title' => 'Nepse Dropped, But Huge Rise In Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> Nepse index saw the bearish trend declining by 6.65 points during previous week. It had closed 535.80 on Sunday, 21st July (the first trading day of the week) and reached 529.15 at the close of Thursday, 25th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the insurance sub-index increased the highest by 47.92 points closing at 1041.44 points with an increase in share price of most of the insurance companies traded during the week. Among them, the share price of Life Insurance Company Nepal increased the highest by Rs 45 per share during the week. The ‘others’ sub-index dropped by 17.62 points closing at 633.27. The share price of Nepal Telecom dropped to Rs 536 per share on July 24 (Wednesday) which forced the sub-index to drop heavily from high of Rs 538. </div> <div> </div> <div> Announcement of the Monetary Policy 2013-14 by Nepal Rastra Bank (NRB) did not made any impact on the market. The impact of new provision on the capital increment forwarded by NRB was not seen in the share price of the banks and financial institutions. </div> <div> </div> <div> Similarly, the decline in the hotel sub-index also backed in the drop of the Nepse. The sub-index dropped by 14.25 points during a week. Only trading of the shares of Soaltee Hotel also dropped to Rs 271from high of Rs 276 per share. </div> <div> </div> <div> Shares of 123 companies were traded at Nepse during the week through 8,254 transactions amounting to Rs 724,695,000. The share price of 35 companies increased while 59 companies lost price and 29 companies remained unchanged. The transaction amount of the week is 84.13 percent higher than that of earlier week. The total number of scrips traded was 2,531,949 which is less by 1,262,365 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 92,748,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 505,893 scrips of the fund were traded during the week. </div> <div> </div> <div> NIC Asia Bank was at the top on the basis of the number of transactions (865).</div> <div> </div> <div> <img alt="" src="/userfiles/images/sectors.jpg" style="width: 550px; height: 152px;" /></div> <div> </div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 534.22 points on Sunday (July 28). The index increased by 5.15 points from the Thursday (July 25) close. All the sectors sub-indices saw increment during the day. Insurance sub-index increased the highest by 60.69 points closing at 1101.57 points. Total of 370, 039 shares were traded from 1743 transactions during the day.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 saw the bearish trend declining by 6.65 points during previous week.', 'sortorder' => '1384', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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' => 'Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1366', 'article_category_id' => '109', 'title' => 'NPBCL Gets Rs 2 Billion Investment Promise Within 1 Month', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway. The group signed a Memorandum of Understanding (MoU) last week to this effect with Nepal Purbadhar Bikas Company Limited (NPBCL), which is implementing the project. With this, NPBCL has got a promise of getting a total of Rs 2 billion within a month for the project. </p> <p> Non-Resident Nepalis (NRNs) from Gemany, Switzerland, UK and Belgium have already promised for investment of Rs 960 million in the project. </p> <p> Officials of Prabhu Group said they will encourage Nepalis working in foreign lands to channelise their hard earned money in the productive sector. “This is a step toward encouraging Nepalis to invest the money received through remittance in productive sector,” Kusum Lama, vice chairman of Prabhu Group. </p> <p> According to NPBCL, an investors willing to invest in this project should put in at least Rs 10,000 . </p> <p> The Group has also said that it would provide loan to people who are interested to invest in this project through Prabhu Finance. </p> <p> “But as most of the remittance comes from Nepalis working in Gulf countries and Malaysia, where their earning is relatively low, officials of NPBCL should assure them that their investment is in safe hands,” Devi Prakash Bhattachan, chairman of Prabhu Group, said. </p> <p> According to officials of Prabhu Group, they would request about 300,000 Nepali to invest in the project through outlets of Prabhu Money Transfer in foreign countries. </p> <p> Speaking on the occasion, Kush Kumar Joshi, chairman of NPBCL said construction works on the mega project would begin from mid-July if weather permits. The project is expected to be completed in December 2016. </p> <p> The 58-km highway with tunnel, which will link Kathmandu with Hetauda, is estimated to cost Rs 34.5 billion. The project is being executed under the private, public and people´s partnership (4Ps) model based on the Private Financing in Build, Own, Operate and Transfer Act 2006 (BOOT Act).</p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway.', 'sortorder' => '1228', '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' => '1365', 'article_category_id' => '109', 'title' => 'New Directives To Banks On Dealing With Cheques', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Nepal Rastra Bank has issued new directives regarding dishonoured cheques. As per the new directives, the bank should inform the drawer if the cheque presented to the bank is dishonoured due to insufficient balance in the account of the drawer. If the cheque so dishonoured is presented to the bank again and the balance is still insufficient to honour it, the bank should inform the Credit Information Bureau (CIB) to blacklist the drawer. The central bank has made these provisions mandatory from July 16. In the same set of directives, the central bank has asked the banks to honour only account payee cheques if the payments are to be made to a firm, a company, or an office. </p> <p> Similarly, the new directive has stated that if the amount written in number and words differ, the amount written in words is to be recognized.</p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 Rastra Bank has issued new directives regarding dishonoured cheques.', 'sortorder' => '1227', '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' => '1364', 'article_category_id' => '109', 'title' => 'Stable Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p> <p> Nepse index increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week). The market floor was open for five days. </p> <p> In the week, the hotel sub-index increased the highest by 19.38 points closing at 675.10. That was followed by the hydropower sector sub-index which increased by 11.61 points. The increase in the share price of hydropower companies except Arun Valley Hydropower brought the increment in hydropower sector sub-index. </p> <p> Insurance company sub-index and development bank sub-index increased by 5.49 points and 1.49 points respectively during the week. </p> <p> But the commercial banks, manufacturing and processing and finance sub-indices declined. The price of the Everest Bank’s preference share dropped the highest during the week. The price dropped by Rs 69 per share closing at Rs 815. </p> <p> There was no change in trading as well as in ‘others’ sub-indices during the week. </p> <p> Shares of 123 companies were traded at Nepse during the week through 5,085 transactions amounting to Rs 378,856,000.</p> <p> The transaction amount is 11.6 percent less than that of earlier week. The total number of scrips traded was 1,753,534 which is 849,443 scrips less than that of earlier week. </p> <p> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 49,363,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 419,376 scrips of the fund were traded during the week. </p> <p> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (790). </p> <p> Similarly, a total of 1,002,674 and 134,227 bonus shares of National Life Insurance and Navadurga Finance respectively were been listed during the week.</p> <p> <img alt="" height="123" hspace="25" src="https://lh4.googleusercontent.com/-IP9fUR8CxZQ/Udu8RRvHZbI/AAAAAAAAA_w/jFm1DaefGAA/s600/Memo%20Style.jpg" width="500" /></p> <table border="0" cellpadding="15" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <span style="font-size:14px;"><strong>Nepse on Sunday</strong></span></p> <p> Nepse Index closed at 494.39 points on Sunday (July 7). This is an increase by 0.76 points from the Thursday (July 4) close. Hotel sub-index and hydro-power sub-index declined by 6.20 points and 1.11 points respectively this day. There was no change in ‘others’ sub-index. Insurance sub-index increased the highest by 7.05 points closing at 888.08 points. A total of 528,714 shares was traded from 1248 transactions during the day.</p> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week).', 'sortorder' => '1226', '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' => '1281', 'article_category_id' => '109', 'title' => 'WB Approves Credit To Strengthen Nepal’s Financial Sector', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The World Bank has approved 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. 'The Government of Nepal’s medium-term program for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future,' states a press statement by the bank. According to the bank, the Nepal Financial Sector Stability Credit will support six main policy areas: (i) formulation of a financial sector development strategy; (ii) restructuring of Nepal Bank Ltd and Rastriya Banijya Bank; (iii) assessment of the condition of Class A, B and C financial institutions and potential restructuring; (iv) strengthening institutional arrangements to support the bank restructuring process; (v) strengthening the legal and regulatory framework for effective bank resolution; and (vi) increasing the transparency of the financial system. </span></p> <p> The credit carries a 0.75% service charge, a 10 year grace period and a maturity of 40 years.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 World Bank has approved 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.', 'sortorder' => '1143', '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' => '1280', 'article_category_id' => '109', 'title' => 'Pacific, Reliable And Subha Laxmi Announce Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited. </span></p> <p> The three companies on Wednesday (June 26) announced the plan to merge with each other. As per the financial statement for the 3rd quarter of fiscal year 2069/70, Pacific Development Bank based in Besishahar, Lamjung has the strongest financial health among three companies. Meanwhile, the trading in the shares of the three companies has been</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited.', 'sortorder' => '1142', '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' => '1279', 'article_category_id' => '109', 'title' => 'Shareholders Approve Manakamana, ID Bank & Yeti Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance. </span></p> <p> <span style="font-size: 12px;">The annual general meetings (AGMs) of financial institutions held on June 24 extended green signal to the consolidation process initiated with the target of creating a commercial bank. </span></p> <p> Similarly, the special general meetings of Yeti Finance and ID Bank held on June 25 and June 27, respectively, have endorsed the merger process. </p> <p> After the merger process wraps up, the new entity will have a paid-up capital of approximately Rs 2.2 billion.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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' => 'Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance.', 'sortorder' => '1141', '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' => '1278', 'article_category_id' => '109', 'title' => 'Royal-Rara-Api Merger Gains Pace', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace. </span></p> <p> The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies. </p> <p> Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', '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 merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.', 'sortorder' => '1140', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1524', 'article_category_id' => '109', 'title' => 'CRR Rates Revised', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Nepal Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs). As per the new circular issued by NRB on July 28 (Sunday), ‘A’ class BFIs should maintain a CRR of 5.0 percent, ‘B’ class BFIs should maintain 4.5 percent and ‘C’class BFIs should maintain 4.0 percent. Previously, the ratios were 6.0 percent, 5.5 percent and 5.0 percent, respectively. </div> <div> </div> <div> NRB has directed to invest ‘A’, ‘B’ and ‘C’ class BFIs a minimum of 4.5 percent, 4.0 percent and 3.5 percent, respectively of the total loan and advance on deprived sector loans. </div> <div> </div> <div> The new circular has also extended the maximum duration of 21 days for repo and reverse repo auction periods and revised the provision on refinancing. As per the new provision, the interest rate for normal refinancing has been maintained at 5.0 percent. The circular also directed not to take more than 9.0 percent from the borrower. </div> <div> </div> <div> Interest rates on special refinancing through loan flown (mainly to small and cottage industry, foreign employment and sick industry) should be given at 1 percent annually. BFIs could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> Similarly, BFIs can provide export refinances to exim businesses at 1.0 percent on the basis of good loan collaterals, but they could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> NRB has also directed to provide a refinancing facility to small and medium scale industry loans at 5.0 percent per annum on the collateral of good loan of the borrower. However, BFIs could not take more than 10.0 percent from the borrower as per the new circular.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs).', 'sortorder' => '1385', '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' => '1523', 'article_category_id' => '109', 'title' => 'Nepse Dropped, But Huge Rise In Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> Nepse index saw the bearish trend declining by 6.65 points during previous week. It had closed 535.80 on Sunday, 21st July (the first trading day of the week) and reached 529.15 at the close of Thursday, 25th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the insurance sub-index increased the highest by 47.92 points closing at 1041.44 points with an increase in share price of most of the insurance companies traded during the week. Among them, the share price of Life Insurance Company Nepal increased the highest by Rs 45 per share during the week. The ‘others’ sub-index dropped by 17.62 points closing at 633.27. The share price of Nepal Telecom dropped to Rs 536 per share on July 24 (Wednesday) which forced the sub-index to drop heavily from high of Rs 538. </div> <div> </div> <div> Announcement of the Monetary Policy 2013-14 by Nepal Rastra Bank (NRB) did not made any impact on the market. The impact of new provision on the capital increment forwarded by NRB was not seen in the share price of the banks and financial institutions. </div> <div> </div> <div> Similarly, the decline in the hotel sub-index also backed in the drop of the Nepse. The sub-index dropped by 14.25 points during a week. Only trading of the shares of Soaltee Hotel also dropped to Rs 271from high of Rs 276 per share. </div> <div> </div> <div> Shares of 123 companies were traded at Nepse during the week through 8,254 transactions amounting to Rs 724,695,000. The share price of 35 companies increased while 59 companies lost price and 29 companies remained unchanged. The transaction amount of the week is 84.13 percent higher than that of earlier week. The total number of scrips traded was 2,531,949 which is less by 1,262,365 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 92,748,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 505,893 scrips of the fund were traded during the week. </div> <div> </div> <div> NIC Asia Bank was at the top on the basis of the number of transactions (865).</div> <div> </div> <div> <img alt="" src="/userfiles/images/sectors.jpg" style="width: 550px; height: 152px;" /></div> <div> </div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 534.22 points on Sunday (July 28). The index increased by 5.15 points from the Thursday (July 25) close. All the sectors sub-indices saw increment during the day. Insurance sub-index increased the highest by 60.69 points closing at 1101.57 points. Total of 370, 039 shares were traded from 1743 transactions during the day.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 saw the bearish trend declining by 6.65 points during previous week.', 'sortorder' => '1384', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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' => 'Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1366', 'article_category_id' => '109', 'title' => 'NPBCL Gets Rs 2 Billion Investment Promise Within 1 Month', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway. The group signed a Memorandum of Understanding (MoU) last week to this effect with Nepal Purbadhar Bikas Company Limited (NPBCL), which is implementing the project. With this, NPBCL has got a promise of getting a total of Rs 2 billion within a month for the project. </p> <p> Non-Resident Nepalis (NRNs) from Gemany, Switzerland, UK and Belgium have already promised for investment of Rs 960 million in the project. </p> <p> Officials of Prabhu Group said they will encourage Nepalis working in foreign lands to channelise their hard earned money in the productive sector. “This is a step toward encouraging Nepalis to invest the money received through remittance in productive sector,” Kusum Lama, vice chairman of Prabhu Group. </p> <p> According to NPBCL, an investors willing to invest in this project should put in at least Rs 10,000 . </p> <p> The Group has also said that it would provide loan to people who are interested to invest in this project through Prabhu Finance. </p> <p> “But as most of the remittance comes from Nepalis working in Gulf countries and Malaysia, where their earning is relatively low, officials of NPBCL should assure them that their investment is in safe hands,” Devi Prakash Bhattachan, chairman of Prabhu Group, said. </p> <p> According to officials of Prabhu Group, they would request about 300,000 Nepali to invest in the project through outlets of Prabhu Money Transfer in foreign countries. </p> <p> Speaking on the occasion, Kush Kumar Joshi, chairman of NPBCL said construction works on the mega project would begin from mid-July if weather permits. The project is expected to be completed in December 2016. </p> <p> The 58-km highway with tunnel, which will link Kathmandu with Hetauda, is estimated to cost Rs 34.5 billion. The project is being executed under the private, public and people´s partnership (4Ps) model based on the Private Financing in Build, Own, Operate and Transfer Act 2006 (BOOT Act).</p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway.', 'sortorder' => '1228', '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' => '1365', 'article_category_id' => '109', 'title' => 'New Directives To Banks On Dealing With Cheques', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Nepal Rastra Bank has issued new directives regarding dishonoured cheques. As per the new directives, the bank should inform the drawer if the cheque presented to the bank is dishonoured due to insufficient balance in the account of the drawer. If the cheque so dishonoured is presented to the bank again and the balance is still insufficient to honour it, the bank should inform the Credit Information Bureau (CIB) to blacklist the drawer. The central bank has made these provisions mandatory from July 16. In the same set of directives, the central bank has asked the banks to honour only account payee cheques if the payments are to be made to a firm, a company, or an office. </p> <p> Similarly, the new directive has stated that if the amount written in number and words differ, the amount written in words is to be recognized.</p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 Rastra Bank has issued new directives regarding dishonoured cheques.', 'sortorder' => '1227', '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' => '1364', 'article_category_id' => '109', 'title' => 'Stable Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p> <p> Nepse index increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week). The market floor was open for five days. </p> <p> In the week, the hotel sub-index increased the highest by 19.38 points closing at 675.10. That was followed by the hydropower sector sub-index which increased by 11.61 points. The increase in the share price of hydropower companies except Arun Valley Hydropower brought the increment in hydropower sector sub-index. </p> <p> Insurance company sub-index and development bank sub-index increased by 5.49 points and 1.49 points respectively during the week. </p> <p> But the commercial banks, manufacturing and processing and finance sub-indices declined. The price of the Everest Bank’s preference share dropped the highest during the week. The price dropped by Rs 69 per share closing at Rs 815. </p> <p> There was no change in trading as well as in ‘others’ sub-indices during the week. </p> <p> Shares of 123 companies were traded at Nepse during the week through 5,085 transactions amounting to Rs 378,856,000.</p> <p> The transaction amount is 11.6 percent less than that of earlier week. The total number of scrips traded was 1,753,534 which is 849,443 scrips less than that of earlier week. </p> <p> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 49,363,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 419,376 scrips of the fund were traded during the week. </p> <p> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (790). </p> <p> Similarly, a total of 1,002,674 and 134,227 bonus shares of National Life Insurance and Navadurga Finance respectively were been listed during the week.</p> <p> <img alt="" height="123" hspace="25" src="https://lh4.googleusercontent.com/-IP9fUR8CxZQ/Udu8RRvHZbI/AAAAAAAAA_w/jFm1DaefGAA/s600/Memo%20Style.jpg" width="500" /></p> <table border="0" cellpadding="15" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <span style="font-size:14px;"><strong>Nepse on Sunday</strong></span></p> <p> Nepse Index closed at 494.39 points on Sunday (July 7). This is an increase by 0.76 points from the Thursday (July 4) close. Hotel sub-index and hydro-power sub-index declined by 6.20 points and 1.11 points respectively this day. There was no change in ‘others’ sub-index. Insurance sub-index increased the highest by 7.05 points closing at 888.08 points. A total of 528,714 shares was traded from 1248 transactions during the day.</p> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week).', 'sortorder' => '1226', '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' => '1281', 'article_category_id' => '109', 'title' => 'WB Approves Credit To Strengthen Nepal’s Financial Sector', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The World Bank has approved 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. 'The Government of Nepal’s medium-term program for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future,' states a press statement by the bank. According to the bank, the Nepal Financial Sector Stability Credit will support six main policy areas: (i) formulation of a financial sector development strategy; (ii) restructuring of Nepal Bank Ltd and Rastriya Banijya Bank; (iii) assessment of the condition of Class A, B and C financial institutions and potential restructuring; (iv) strengthening institutional arrangements to support the bank restructuring process; (v) strengthening the legal and regulatory framework for effective bank resolution; and (vi) increasing the transparency of the financial system. </span></p> <p> The credit carries a 0.75% service charge, a 10 year grace period and a maturity of 40 years.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 World Bank has approved 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.', 'sortorder' => '1143', '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' => '1280', 'article_category_id' => '109', 'title' => 'Pacific, Reliable And Subha Laxmi Announce Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited. </span></p> <p> The three companies on Wednesday (June 26) announced the plan to merge with each other. As per the financial statement for the 3rd quarter of fiscal year 2069/70, Pacific Development Bank based in Besishahar, Lamjung has the strongest financial health among three companies. Meanwhile, the trading in the shares of the three companies has been</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited.', 'sortorder' => '1142', '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' => '1279', 'article_category_id' => '109', 'title' => 'Shareholders Approve Manakamana, ID Bank & Yeti Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance. </span></p> <p> <span style="font-size: 12px;">The annual general meetings (AGMs) of financial institutions held on June 24 extended green signal to the consolidation process initiated with the target of creating a commercial bank. </span></p> <p> Similarly, the special general meetings of Yeti Finance and ID Bank held on June 25 and June 27, respectively, have endorsed the merger process. </p> <p> After the merger process wraps up, the new entity will have a paid-up capital of approximately Rs 2.2 billion.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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' => 'Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance.', 'sortorder' => '1141', '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' => '1278', 'article_category_id' => '109', 'title' => 'Royal-Rara-Api Merger Gains Pace', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace. </span></p> <p> The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies. </p> <p> Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', '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 merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.', 'sortorder' => '1140', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1524', 'article_category_id' => '109', 'title' => 'CRR Rates Revised', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Nepal Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs). As per the new circular issued by NRB on July 28 (Sunday), ‘A’ class BFIs should maintain a CRR of 5.0 percent, ‘B’ class BFIs should maintain 4.5 percent and ‘C’class BFIs should maintain 4.0 percent. Previously, the ratios were 6.0 percent, 5.5 percent and 5.0 percent, respectively. </div> <div> </div> <div> NRB has directed to invest ‘A’, ‘B’ and ‘C’ class BFIs a minimum of 4.5 percent, 4.0 percent and 3.5 percent, respectively of the total loan and advance on deprived sector loans. </div> <div> </div> <div> The new circular has also extended the maximum duration of 21 days for repo and reverse repo auction periods and revised the provision on refinancing. As per the new provision, the interest rate for normal refinancing has been maintained at 5.0 percent. The circular also directed not to take more than 9.0 percent from the borrower. </div> <div> </div> <div> Interest rates on special refinancing through loan flown (mainly to small and cottage industry, foreign employment and sick industry) should be given at 1 percent annually. BFIs could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> Similarly, BFIs can provide export refinances to exim businesses at 1.0 percent on the basis of good loan collaterals, but they could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> NRB has also directed to provide a refinancing facility to small and medium scale industry loans at 5.0 percent per annum on the collateral of good loan of the borrower. However, BFIs could not take more than 10.0 percent from the borrower as per the new circular.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs).', 'sortorder' => '1385', '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' => '1523', 'article_category_id' => '109', 'title' => 'Nepse Dropped, But Huge Rise In Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> Nepse index saw the bearish trend declining by 6.65 points during previous week. It had closed 535.80 on Sunday, 21st July (the first trading day of the week) and reached 529.15 at the close of Thursday, 25th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the insurance sub-index increased the highest by 47.92 points closing at 1041.44 points with an increase in share price of most of the insurance companies traded during the week. Among them, the share price of Life Insurance Company Nepal increased the highest by Rs 45 per share during the week. The ‘others’ sub-index dropped by 17.62 points closing at 633.27. The share price of Nepal Telecom dropped to Rs 536 per share on July 24 (Wednesday) which forced the sub-index to drop heavily from high of Rs 538. </div> <div> </div> <div> Announcement of the Monetary Policy 2013-14 by Nepal Rastra Bank (NRB) did not made any impact on the market. The impact of new provision on the capital increment forwarded by NRB was not seen in the share price of the banks and financial institutions. </div> <div> </div> <div> Similarly, the decline in the hotel sub-index also backed in the drop of the Nepse. The sub-index dropped by 14.25 points during a week. Only trading of the shares of Soaltee Hotel also dropped to Rs 271from high of Rs 276 per share. </div> <div> </div> <div> Shares of 123 companies were traded at Nepse during the week through 8,254 transactions amounting to Rs 724,695,000. The share price of 35 companies increased while 59 companies lost price and 29 companies remained unchanged. The transaction amount of the week is 84.13 percent higher than that of earlier week. The total number of scrips traded was 2,531,949 which is less by 1,262,365 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 92,748,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 505,893 scrips of the fund were traded during the week. </div> <div> </div> <div> NIC Asia Bank was at the top on the basis of the number of transactions (865).</div> <div> </div> <div> <img alt="" src="/userfiles/images/sectors.jpg" style="width: 550px; height: 152px;" /></div> <div> </div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 534.22 points on Sunday (July 28). The index increased by 5.15 points from the Thursday (July 25) close. All the sectors sub-indices saw increment during the day. Insurance sub-index increased the highest by 60.69 points closing at 1101.57 points. Total of 370, 039 shares were traded from 1743 transactions during the day.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 saw the bearish trend declining by 6.65 points during previous week.', 'sortorder' => '1384', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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' => 'Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1366', 'article_category_id' => '109', 'title' => 'NPBCL Gets Rs 2 Billion Investment Promise Within 1 Month', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway. The group signed a Memorandum of Understanding (MoU) last week to this effect with Nepal Purbadhar Bikas Company Limited (NPBCL), which is implementing the project. With this, NPBCL has got a promise of getting a total of Rs 2 billion within a month for the project. </p> <p> Non-Resident Nepalis (NRNs) from Gemany, Switzerland, UK and Belgium have already promised for investment of Rs 960 million in the project. </p> <p> Officials of Prabhu Group said they will encourage Nepalis working in foreign lands to channelise their hard earned money in the productive sector. “This is a step toward encouraging Nepalis to invest the money received through remittance in productive sector,” Kusum Lama, vice chairman of Prabhu Group. </p> <p> According to NPBCL, an investors willing to invest in this project should put in at least Rs 10,000 . </p> <p> The Group has also said that it would provide loan to people who are interested to invest in this project through Prabhu Finance. </p> <p> “But as most of the remittance comes from Nepalis working in Gulf countries and Malaysia, where their earning is relatively low, officials of NPBCL should assure them that their investment is in safe hands,” Devi Prakash Bhattachan, chairman of Prabhu Group, said. </p> <p> According to officials of Prabhu Group, they would request about 300,000 Nepali to invest in the project through outlets of Prabhu Money Transfer in foreign countries. </p> <p> Speaking on the occasion, Kush Kumar Joshi, chairman of NPBCL said construction works on the mega project would begin from mid-July if weather permits. The project is expected to be completed in December 2016. </p> <p> The 58-km highway with tunnel, which will link Kathmandu with Hetauda, is estimated to cost Rs 34.5 billion. The project is being executed under the private, public and people´s partnership (4Ps) model based on the Private Financing in Build, Own, Operate and Transfer Act 2006 (BOOT Act).</p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway.', 'sortorder' => '1228', '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' => '1365', 'article_category_id' => '109', 'title' => 'New Directives To Banks On Dealing With Cheques', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Nepal Rastra Bank has issued new directives regarding dishonoured cheques. As per the new directives, the bank should inform the drawer if the cheque presented to the bank is dishonoured due to insufficient balance in the account of the drawer. If the cheque so dishonoured is presented to the bank again and the balance is still insufficient to honour it, the bank should inform the Credit Information Bureau (CIB) to blacklist the drawer. The central bank has made these provisions mandatory from July 16. In the same set of directives, the central bank has asked the banks to honour only account payee cheques if the payments are to be made to a firm, a company, or an office. </p> <p> Similarly, the new directive has stated that if the amount written in number and words differ, the amount written in words is to be recognized.</p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 Rastra Bank has issued new directives regarding dishonoured cheques.', 'sortorder' => '1227', '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' => '1364', 'article_category_id' => '109', 'title' => 'Stable Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p> <p> Nepse index increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week). The market floor was open for five days. </p> <p> In the week, the hotel sub-index increased the highest by 19.38 points closing at 675.10. That was followed by the hydropower sector sub-index which increased by 11.61 points. The increase in the share price of hydropower companies except Arun Valley Hydropower brought the increment in hydropower sector sub-index. </p> <p> Insurance company sub-index and development bank sub-index increased by 5.49 points and 1.49 points respectively during the week. </p> <p> But the commercial banks, manufacturing and processing and finance sub-indices declined. The price of the Everest Bank’s preference share dropped the highest during the week. The price dropped by Rs 69 per share closing at Rs 815. </p> <p> There was no change in trading as well as in ‘others’ sub-indices during the week. </p> <p> Shares of 123 companies were traded at Nepse during the week through 5,085 transactions amounting to Rs 378,856,000.</p> <p> The transaction amount is 11.6 percent less than that of earlier week. The total number of scrips traded was 1,753,534 which is 849,443 scrips less than that of earlier week. </p> <p> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 49,363,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 419,376 scrips of the fund were traded during the week. </p> <p> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (790). </p> <p> Similarly, a total of 1,002,674 and 134,227 bonus shares of National Life Insurance and Navadurga Finance respectively were been listed during the week.</p> <p> <img alt="" height="123" hspace="25" src="https://lh4.googleusercontent.com/-IP9fUR8CxZQ/Udu8RRvHZbI/AAAAAAAAA_w/jFm1DaefGAA/s600/Memo%20Style.jpg" width="500" /></p> <table border="0" cellpadding="15" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <span style="font-size:14px;"><strong>Nepse on Sunday</strong></span></p> <p> Nepse Index closed at 494.39 points on Sunday (July 7). This is an increase by 0.76 points from the Thursday (July 4) close. Hotel sub-index and hydro-power sub-index declined by 6.20 points and 1.11 points respectively this day. There was no change in ‘others’ sub-index. Insurance sub-index increased the highest by 7.05 points closing at 888.08 points. A total of 528,714 shares was traded from 1248 transactions during the day.</p> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week).', 'sortorder' => '1226', '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' => '1281', 'article_category_id' => '109', 'title' => 'WB Approves Credit To Strengthen Nepal’s Financial Sector', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The World Bank has approved 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. 'The Government of Nepal’s medium-term program for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future,' states a press statement by the bank. According to the bank, the Nepal Financial Sector Stability Credit will support six main policy areas: (i) formulation of a financial sector development strategy; (ii) restructuring of Nepal Bank Ltd and Rastriya Banijya Bank; (iii) assessment of the condition of Class A, B and C financial institutions and potential restructuring; (iv) strengthening institutional arrangements to support the bank restructuring process; (v) strengthening the legal and regulatory framework for effective bank resolution; and (vi) increasing the transparency of the financial system. </span></p> <p> The credit carries a 0.75% service charge, a 10 year grace period and a maturity of 40 years.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 World Bank has approved 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.', 'sortorder' => '1143', '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' => '1280', 'article_category_id' => '109', 'title' => 'Pacific, Reliable And Subha Laxmi Announce Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited. </span></p> <p> The three companies on Wednesday (June 26) announced the plan to merge with each other. As per the financial statement for the 3rd quarter of fiscal year 2069/70, Pacific Development Bank based in Besishahar, Lamjung has the strongest financial health among three companies. Meanwhile, the trading in the shares of the three companies has been</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited.', 'sortorder' => '1142', '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' => '1279', 'article_category_id' => '109', 'title' => 'Shareholders Approve Manakamana, ID Bank & Yeti Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance. </span></p> <p> <span style="font-size: 12px;">The annual general meetings (AGMs) of financial institutions held on June 24 extended green signal to the consolidation process initiated with the target of creating a commercial bank. </span></p> <p> Similarly, the special general meetings of Yeti Finance and ID Bank held on June 25 and June 27, respectively, have endorsed the merger process. </p> <p> After the merger process wraps up, the new entity will have a paid-up capital of approximately Rs 2.2 billion.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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' => 'Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance.', 'sortorder' => '1141', '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' => '1278', 'article_category_id' => '109', 'title' => 'Royal-Rara-Api Merger Gains Pace', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace. </span></p> <p> The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies. </p> <p> Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', '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 merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.', 'sortorder' => '1140', '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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As per the new circular issued by NRB on July 28 (Sunday), ‘A’ class BFIs should maintain a CRR of 5.0 percent, ‘B’ class BFIs should maintain 4.5 percent and ‘C’class BFIs should maintain 4.0 percent. Previously, the ratios were 6.0 percent, 5.5 percent and 5.0 percent, respectively. </div> <div> </div> <div> NRB has directed to invest ‘A’, ‘B’ and ‘C’ class BFIs a minimum of 4.5 percent, 4.0 percent and 3.5 percent, respectively of the total loan and advance on deprived sector loans. </div> <div> </div> <div> The new circular has also extended the maximum duration of 21 days for repo and reverse repo auction periods and revised the provision on refinancing. As per the new provision, the interest rate for normal refinancing has been maintained at 5.0 percent. The circular also directed not to take more than 9.0 percent from the borrower. </div> <div> </div> <div> Interest rates on special refinancing through loan flown (mainly to small and cottage industry, foreign employment and sick industry) should be given at 1 percent annually. BFIs could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> Similarly, BFIs can provide export refinances to exim businesses at 1.0 percent on the basis of good loan collaterals, but they could not take more than 4.5 percent from the borrower as per the new circular. </div> <div> </div> <div> NRB has also directed to provide a refinancing facility to small and medium scale industry loans at 5.0 percent per annum on the collateral of good loan of the borrower. However, BFIs could not take more than 10.0 percent from the borrower as per the new circular.</div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 Rastra Bank (NRB) has revised its Cash Reserve Ratio (CRR) to be maintained by banks and financial institutions (BFIs).', 'sortorder' => '1385', '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' => '1523', 'article_category_id' => '109', 'title' => 'Nepse Dropped, But Huge Rise In Insurance', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> Nepse index saw the bearish trend declining by 6.65 points during previous week. It had closed 535.80 on Sunday, 21st July (the first trading day of the week) and reached 529.15 at the close of Thursday, 25th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the insurance sub-index increased the highest by 47.92 points closing at 1041.44 points with an increase in share price of most of the insurance companies traded during the week. Among them, the share price of Life Insurance Company Nepal increased the highest by Rs 45 per share during the week. The ‘others’ sub-index dropped by 17.62 points closing at 633.27. The share price of Nepal Telecom dropped to Rs 536 per share on July 24 (Wednesday) which forced the sub-index to drop heavily from high of Rs 538. </div> <div> </div> <div> Announcement of the Monetary Policy 2013-14 by Nepal Rastra Bank (NRB) did not made any impact on the market. The impact of new provision on the capital increment forwarded by NRB was not seen in the share price of the banks and financial institutions. </div> <div> </div> <div> Similarly, the decline in the hotel sub-index also backed in the drop of the Nepse. The sub-index dropped by 14.25 points during a week. Only trading of the shares of Soaltee Hotel also dropped to Rs 271from high of Rs 276 per share. </div> <div> </div> <div> Shares of 123 companies were traded at Nepse during the week through 8,254 transactions amounting to Rs 724,695,000. The share price of 35 companies increased while 59 companies lost price and 29 companies remained unchanged. The transaction amount of the week is 84.13 percent higher than that of earlier week. The total number of scrips traded was 2,531,949 which is less by 1,262,365 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 92,748,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 505,893 scrips of the fund were traded during the week. </div> <div> </div> <div> NIC Asia Bank was at the top on the basis of the number of transactions (865).</div> <div> </div> <div> <img alt="" src="/userfiles/images/sectors.jpg" style="width: 550px; height: 152px;" /></div> <div> </div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 534.22 points on Sunday (July 28). The index increased by 5.15 points from the Thursday (July 25) close. All the sectors sub-indices saw increment during the day. Insurance sub-index increased the highest by 60.69 points closing at 1101.57 points. Total of 370, 039 shares were traded from 1743 transactions during the day.</div> </div> <div> </div>', 'published' => true, 'created' => '2013-07-29', 'modified' => '0000-00-00', '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 saw the bearish trend declining by 6.65 points during previous week.', 'sortorder' => '1384', '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' => '1477', 'article_category_id' => '109', 'title' => 'Bullish Start To New Fiscal Year', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Nepse index started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week). The Nepse index dropped by 8.97 points on Tuesday, 16th July closing at 509.36 but again regained and reached 521.60 at the close of Thursday, 18th July (the last trading day of the week). The market floor was open for five days. </div> <div> </div> <div> In the week, the hydro-power sub-index increased the highest by 47.84 points closing at 1113.12 points with an increase in share price of Chilime Hydropower by Rs 50 per share during the week. That was followed by the insurance companies sub-index which increased by 38.22 points. The ‘others’ sub-index dropped by 23.49 points closing at 646.19. The share price of Nepal Telecom dropped to Rs 539 per share on July 17 (Wednesday) which forced the sub-index to drop heavily from high of Rs 596 on July 15. </div> <div> </div> <div> Similarly, NIC Asia Bank topped in price increment during the week. The share price of the bank closed at Rs 669 with an increase of Rs 60 per share, followed by share price of Everest Bank (increased by Rs 59 per share) which also helped to boost the commercial bank sub-index. </div> <div> </div> <div> Shares of 120 companies were traded at Nepse during the week through 4,225 transactions amounting to Rs 393,575,000. The share price of 70 companies increased while 27 companies lost price and 23 companies remained unchanged. The transaction amount of the week is 11.89 percent higher than that of earlier week. The total number of scrips traded was1, 269,584 which is less by 550,407 scrips than that of earlier week. </div> <div> </div> <div> Everest Bank topped the list in terms of transaction amount (Rs 279,371,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 2,408,732 scrips of the fund were traded during the week. </div> <div> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (3339). </div> <div> </div> <div> Similarly, a total of 200,000 bonus shares of Excel Development Bank were listed during the week.</div> <div> </div> <div> <img alt="Bullish Start" src="/userfiles/images/Bullish%20Start.jpg" style="width: 600px; height: 172px;" /></div> <div> <hr /> <div> <strong>Nepse on Sunday</strong></div> <div> Nepse Index closed at 535.72 points on Sunday (July 21). The index increased by 14.19 points from the Thursday (July 18) close. All sector sub-indices saw an increment during the day. Insurance sub-index had the highest increment by 36.38 points, closing at 992.96 points. A total of 533,233 shares was traded from 1621 transactions during a day. Market operation were suspended for 15 minutes due to heavy buying pressure.</div> <div> </div> </div> <p> </p>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 started new fiscal year with the bullish trend increasing by 10.45 points during previous week. It had closed 511.15 on Sunday, 14th July (the first trading day of the week).', 'sortorder' => '1338', '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' => '1476', 'article_category_id' => '109', 'title' => 'Nepse Yearly Review', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Rashesh Vaidya</strong></div> <div> </div> <div> The stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent. </div> <div> </div> <div> The benchmark index had reached the highest on February 17, 2013 at 555.93 points, while the lowest record for the fiscal year was on July 16, 2012 (the opening day) at 384.92 points. The index crossed 500 points on November 20, 2012 closing at 501.52 points. This was the first time the benchmark index had crossed the 500-point mark in over two-and-half years. </div> <div> </div> <div> Compared to the turnover of Rs 10,162 billion of preceding fiscal year 2011-12, this year the turnover rose by a hefty 98.12% to stand at Rs 20,133 billion. Similarly, the listing and transactions of new commercial banks like Civil Bank and Commerce and Trust Bank and other companies, as well as relisting and transaction of Nepal Bank Limited helped market capitalization make a huge leap of 39.71% to stand at Rs 514,492.13 million on the close compared to Rs 368,262.13 million in the last fiscal. </div> <div> </div> <div> At the beginning of the last fiscal year, the one-third budget brought through ordinance by the then government failed to create any positive impact in the market. But the Nepal Rastra Bank’s approval to banks and financial institutions margin lending and loan against purchase receipt of shares eased liquidity in the market helping the share prices to go up. </div> <div> </div> <div> Likewise, introduction of mutual fund guideline by the Securities Board of Nepal (SEBON) paved the way for the launching of Siddhartha Growth Mutual Fund-I worth Rs 500 million and Nabil Balanced Fund-I worth Rs 750 million which created a positive impact in the market. </div> <div> On the other hand, delay in the implementation of Central Depository System (CDS) has failed to live up to the high expectations that the investors had. </div> <div> </div> <div> The consensus among political parties to form a government led by Chief Justice Khil Raj Regmi brought new rhythm in the market. The announcement resulted in the third highest turnover worth Rs 238 million on February 12, 2013, forcing a 5% circuit breaker on February 17, 2013, after nine months gap at Nepse floor. The Nepse index that day touched the highest point of the year closing at 545.72 points. </div> <div> </div> <div> Again, the provision allowing offloading of promoters share directly through secondary market, technical glitches in the Nepse website and broker terminals and increase in the number of broker suspensions for their failure to pay the dues affected the market negatively causing a drop on the Nepse index to 490.53 points. </div> <div> Meanwhile, listing and transaction of merged companies like Global IME Bank, NIC Asia Bank and others also played a part in turning the market on. </div> <div> </div> <div> Appointment of a new General Manager at Nepse at the end of the fiscal year has created a positive vibe among investors, raising hopes that long stalled projects and programmes would now be implemented.</div> <div> </div>', 'published' => true, 'created' => '2013-07-23', 'modified' => '0000-00-00', '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 stock market soared during the FY 2012- 13 closing at 518.27, up 128.55 points, or 32.99 percent.', 'sortorder' => '1337', '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' => '1426', 'article_category_id' => '109', 'title' => 'Trade Deficit Above Rs 400 Billion', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By TC Correspondent</strong><br /> <br /> The trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year. The high dependency on India for petroleum products is cited as the cause for the heavy increase in trade deficit with India. However, Trade and Export Promotion Centre (TEPC) brought about a slightly different report on the same day with trade deficit figure of Rs 4.8 billion.<br /> <br /> According to NRB, the workers’ remittances rose by only 21.3 percent to Rs. 388.46 billion compared to an increase of 39.6 percent in the same period of the previous year. In USD terms, remittance inflow increased by 11.8 percent to USD 4.45 billion during the review period compared to an increase of 25.2 percent in same period of the previous year. As per NRB, due to high growth of imports compared to exports, the ratio of export to import declined to 13.7 percent in the review period from 16.0 percent a year ago.<br /> <br /> The gross foreign exchange reserves in USD terms increased by 11.3 percent to USD 5.52 billion in mid-June 2013. Such reserves had increased by 25.6 percent in the same period of the previous year. Likewise, during eleven months of 2012/13, the inconvertible foreign exchange reserves increased by 17.6 percent to Indian Rupees 71.0 billion. Such reserves had increased by 89.7 percent during the same period of the previous year. On the basis of trend of import during the eleven months of the current fiscal year, the current level of reserves is sufficient for financing merchandise imports of 11.3 months and merchandise and service imports of 9.7 months, says NRB.<br /> <br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 trade deficit of Nepal during the first eleven months of 2012/13 surged by 24.5 percent (to Rs. 438.67 billion) compared to the same period of the previous year according to data released by Nepal Rastra Bank (NRB) last week. Trade deficit with India increased by 27.4 percent during the review period compared to a growth of 13.0 percent in the same period of the previous year.', 'sortorder' => '1288', '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' => '1425', 'article_category_id' => '109', 'title' => 'NBA Demands NRB To Relax Its Directives', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.<br /> <br /> They have also asked for relaxation on the requirement to increase their lending to manufacturing, agriculture and energy sectors. While earlier directive of the NRB requires them to have 20 percent of their loan outstanding on manufacturing sector by mid- July 2013, want the deadline extended till mid- July 2016. Similarly, they want NRB to extend the deadline till mid-July 2017 for increasing their loan outstanding on agriculture and energy sectors to 10 per cent. Earlier, NRB directive has set mid-July 2014 to meet this target. The bankers have also asked for reduction on the minimum amount of bank lending required to be in the deprived sector. They want this amount to be 3.5 percent instead of NRB’s earlier requirement of 4 percent.<br /> <br /> The association has also demanded for starting operation of Asset Management Company as soon as possible for the proper management of bad and doubtful loans. It has asked NRB also for taking up with the government the issue of implementing of Secured Transaction Act as soon as possible.Similarly, NBA has asked for permission to charge the customers for the cost incurred in cheque clearance through electronic clearance system. NBA has also asked NRB to increase the higher limit on Credit-Deposit Ratio (CD Ratio) from existing 80 percent to 85 percent.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 Bankers’ Association (NBA) has demanded with Nepal Rastra Bank (NRB) for relaxing the Know Your Customer (KYC) requirements. Submitting a list of demand to NRB last week, NBA has asked for a system whereby a copy of the citizenship certificate or passport would be enough as a paper of identity of the customer for opening a bank account.', 'sortorder' => '1287', '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' => '1424', 'article_category_id' => '109', 'title' => 'Nine BFIs Merged Into Three', 'sub_title' => '', 'summary' => null, 'content' => '<p> Nepal rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’. Similarly, Rara Bikas Bank, Royal Merchant Banking and Finance and Api Finance have merged to form ‘Apex Development Bank’. Also, the merger among Global IME Bank, Social Development Bank and Gulmi Development Bank has been approved.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '0000-00-00', '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 rastra bank (NRB) has granted final approval to nine banks and financial institutions (BFIs) for merger. With his, three merged entities have started operation from July 14. Prabhu Finance, Baibhav Finance and Samridhi Bikas Bank have merged to form ‘Prabhu Bikas Bank’.', 'sortorder' => '1286', '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' => '1423', 'article_category_id' => '109', 'title' => 'Nepse On Bullish Trend With Mid-July Effect', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rashesh Vaidya</strong><br /> <br /> Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points. That was followed by the ‘others’ sector sub-index which increased by 23.49 points. As the market capitalization of Nepal Telecom increased heavily during the previous week, the ‘others’ sub-index saw a huge increment. The share price of Nepal Telecom increased by Rs 20 (closing at Rs 550) from a trading of 177,120 shares during the week.<br /> <br /> Similarly, increment in the share prices of Butwal Power Company and Chilime Hydropower Company by Rs 5 and Re 1 respectively caused increase in hydro-power sub-index. Decline in manufacturing and processing sub-index by 9.91 points during the week was due to the decline in share price of Unilever Nepal Ltd by Rs 200 per share closing at Rs 9800.<br /> <br /> As the closing of the fiscal year was coming nearer, investors are attracted to generate the shares of banks and financial institutions (BFIs) from which they expect dividends. On-going merger trend among the BFIs and the historical trend of high return during Mid-July (Mid-July Effect) from the Nepali stock market are also seen boosting the Nepali investors’ confidence during the week.<br /> <br /> Shares of 119 companies were traded at Nepse during the week through 5,412 transactions amounting to Rs 446,668,000. The share price of 68 companies increased while of 27 companies declined and 24 companies remained unchanged. The transaction amount of the week is 17.9 percent higher than that of earlier week. The total number of scrips traded was1,819,991 which is higher by 66,457 scrips than that of earlier week.<br /> <br /> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 641,020,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 395,011 scrips of the fund were traded during the week. Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (531).<br /> <br /> Similarly, a total of 920,000 right shares of Sewa Bikas Bank, and 2,250,000 ordinary shares of NLG Insurance, 40,000bonus shares of Seti Finance and 400,000 debentures of Bank of Kathmandu were listed during the week.<br /> <br /> <br /> <strong>Nepse on Sunday</strong><br /> <br /> Nepse Index closed at 511.07 points on Sunday (July 14). The index increased by 4.62 points from the Thursday (July 11) close. All the sectors sub-indices saw increment during the day. Hydro-power sub-index increased the highest by 23.85 points closing at 1065.28 points. Total of 225,296 shares were traded from 817 transactions during the day. Similarly, trading on stock symbol “NICA” has started after successful merger between NIC Bank Ltd and Bank of Asia Nepal Ltd forming NIC Asia Bank.<br /> </p>', 'published' => true, 'created' => '2013-07-15', 'modified' => '2013-07-25', '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' => 'Nepse index increased by 12.09 points during previous week. It had closed 494.45 on Sunday, 7th July (the first trading day of the week) and reached 506.53 at the close of Thursday, 11th July (the last trading day of the week) showing the bullish trend. The market floor was open for five days.In the week, the insurance company sub-index increased the highest by 28.80 points closing at 971.28 points.', 'sortorder' => '1285', 'image' => '1373893312.jpg', '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' => '1366', 'article_category_id' => '109', 'title' => 'NPBCL Gets Rs 2 Billion Investment Promise Within 1 Month', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway. The group signed a Memorandum of Understanding (MoU) last week to this effect with Nepal Purbadhar Bikas Company Limited (NPBCL), which is implementing the project. With this, NPBCL has got a promise of getting a total of Rs 2 billion within a month for the project. </p> <p> Non-Resident Nepalis (NRNs) from Gemany, Switzerland, UK and Belgium have already promised for investment of Rs 960 million in the project. </p> <p> Officials of Prabhu Group said they will encourage Nepalis working in foreign lands to channelise their hard earned money in the productive sector. “This is a step toward encouraging Nepalis to invest the money received through remittance in productive sector,” Kusum Lama, vice chairman of Prabhu Group. </p> <p> According to NPBCL, an investors willing to invest in this project should put in at least Rs 10,000 . </p> <p> The Group has also said that it would provide loan to people who are interested to invest in this project through Prabhu Finance. </p> <p> “But as most of the remittance comes from Nepalis working in Gulf countries and Malaysia, where their earning is relatively low, officials of NPBCL should assure them that their investment is in safe hands,” Devi Prakash Bhattachan, chairman of Prabhu Group, said. </p> <p> According to officials of Prabhu Group, they would request about 300,000 Nepali to invest in the project through outlets of Prabhu Money Transfer in foreign countries. </p> <p> Speaking on the occasion, Kush Kumar Joshi, chairman of NPBCL said construction works on the mega project would begin from mid-July if weather permits. The project is expected to be completed in December 2016. </p> <p> The 58-km highway with tunnel, which will link Kathmandu with Hetauda, is estimated to cost Rs 34.5 billion. The project is being executed under the private, public and people´s partnership (4Ps) model based on the Private Financing in Build, Own, Operate and Transfer Act 2006 (BOOT Act).</p> <div> </div>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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' => 'Prabhu Group has expressed commitment to rise around Rs 1 billion for the construction of Kathmandu- Hetauda Tunnel Highway.', 'sortorder' => '1228', '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' => '1365', 'article_category_id' => '109', 'title' => 'New Directives To Banks On Dealing With Cheques', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By TC Correspondent</span></strong></p> <p> Nepal Rastra Bank has issued new directives regarding dishonoured cheques. As per the new directives, the bank should inform the drawer if the cheque presented to the bank is dishonoured due to insufficient balance in the account of the drawer. If the cheque so dishonoured is presented to the bank again and the balance is still insufficient to honour it, the bank should inform the Credit Information Bureau (CIB) to blacklist the drawer. The central bank has made these provisions mandatory from July 16. In the same set of directives, the central bank has asked the banks to honour only account payee cheques if the payments are to be made to a firm, a company, or an office. </p> <p> Similarly, the new directive has stated that if the amount written in number and words differ, the amount written in words is to be recognized.</p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 Rastra Bank has issued new directives regarding dishonoured cheques.', 'sortorder' => '1227', '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' => '1364', 'article_category_id' => '109', 'title' => 'Stable Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong><span style="font-size: 12px;">--By Rashesh Vaidya</span></strong></p> <p> Nepse index increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week). The market floor was open for five days. </p> <p> In the week, the hotel sub-index increased the highest by 19.38 points closing at 675.10. That was followed by the hydropower sector sub-index which increased by 11.61 points. The increase in the share price of hydropower companies except Arun Valley Hydropower brought the increment in hydropower sector sub-index. </p> <p> Insurance company sub-index and development bank sub-index increased by 5.49 points and 1.49 points respectively during the week. </p> <p> But the commercial banks, manufacturing and processing and finance sub-indices declined. The price of the Everest Bank’s preference share dropped the highest during the week. The price dropped by Rs 69 per share closing at Rs 815. </p> <p> There was no change in trading as well as in ‘others’ sub-indices during the week. </p> <p> Shares of 123 companies were traded at Nepse during the week through 5,085 transactions amounting to Rs 378,856,000.</p> <p> The transaction amount is 11.6 percent less than that of earlier week. The total number of scrips traded was 1,753,534 which is 849,443 scrips less than that of earlier week. </p> <p> Chilime Hydropower Company topped the list in terms of transaction amount (Rs 49,363,000). Nabil Balanced Fund topped in number of scrips traded during the week. Altogether 419,376 scrips of the fund were traded during the week. </p> <p> Commerz and Trust Bank Nepal Ltd was at the top on the basis of the number of transactions (790). </p> <p> Similarly, a total of 1,002,674 and 134,227 bonus shares of National Life Insurance and Navadurga Finance respectively were been listed during the week.</p> <p> <img alt="" height="123" hspace="25" src="https://lh4.googleusercontent.com/-IP9fUR8CxZQ/Udu8RRvHZbI/AAAAAAAAA_w/jFm1DaefGAA/s600/Memo%20Style.jpg" width="500" /></p> <table border="0" cellpadding="15" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <p> <span style="font-size:14px;"><strong>Nepse on Sunday</strong></span></p> <p> Nepse Index closed at 494.39 points on Sunday (July 7). This is an increase by 0.76 points from the Thursday (July 4) close. Hotel sub-index and hydro-power sub-index declined by 6.20 points and 1.11 points respectively this day. There was no change in ‘others’ sub-index. Insurance sub-index increased the highest by 7.05 points closing at 888.08 points. A total of 528,714 shares was traded from 1248 transactions during the day.</p> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-07-09', 'modified' => '0000-00-00', '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 increased by 0.48 point during previous week. It had closed 493.67 on Sunday, 30th June (the first trading day of the week) and reached 493.67 at the close of Thursday, 4th July (the last trading day of the week).', 'sortorder' => '1226', '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' => '1281', 'article_category_id' => '109', 'title' => 'WB Approves Credit To Strengthen Nepal’s Financial Sector', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The World Bank has approved 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. 'The Government of Nepal’s medium-term program for the financial sector focuses on reforms designed to place the financial sector on a sound foundation for the future,' states a press statement by the bank. According to the bank, the Nepal Financial Sector Stability Credit will support six main policy areas: (i) formulation of a financial sector development strategy; (ii) restructuring of Nepal Bank Ltd and Rastriya Banijya Bank; (iii) assessment of the condition of Class A, B and C financial institutions and potential restructuring; (iv) strengthening institutional arrangements to support the bank restructuring process; (v) strengthening the legal and regulatory framework for effective bank resolution; and (vi) increasing the transparency of the financial system. </span></p> <p> The credit carries a 0.75% service charge, a 10 year grace period and a maturity of 40 years.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 World Bank has approved 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.', 'sortorder' => '1143', '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' => '1280', 'article_category_id' => '109', 'title' => 'Pacific, Reliable And Subha Laxmi Announce Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited. </span></p> <p> The three companies on Wednesday (June 26) announced the plan to merge with each other. As per the financial statement for the 3rd quarter of fiscal year 2069/70, Pacific Development Bank based in Besishahar, Lamjung has the strongest financial health among three companies. Meanwhile, the trading in the shares of the three companies has been</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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 latest financial institutions to join the bandwagon of merger are Pacific Development Bank, Reliable Finance and Subha Laxmi Finance Limited.', 'sortorder' => '1142', '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' => '1279', 'article_category_id' => '109', 'title' => 'Shareholders Approve Manakamana, ID Bank & Yeti Merger', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance. </span></p> <p> <span style="font-size: 12px;">The annual general meetings (AGMs) of financial institutions held on June 24 extended green signal to the consolidation process initiated with the target of creating a commercial bank. </span></p> <p> Similarly, the special general meetings of Yeti Finance and ID Bank held on June 25 and June 27, respectively, have endorsed the merger process. </p> <p> After the merger process wraps up, the new entity will have a paid-up capital of approximately Rs 2.2 billion.</p> <div> </div>', 'published' => true, 'created' => '2013-07-01', 'modified' => '0000-00-00', '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' => 'Shareholders of Manakamana Development Bank and Valley Finance have cleared the deck for the financial institution´s merger with Infrastructure Development (ID) Bank and Yeti Finance.', 'sortorder' => '1141', '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' => '1278', 'article_category_id' => '109', 'title' => 'Royal-Rara-Api Merger Gains Pace', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size: 12px;">The merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace. </span></p> <p> The three entities had asked for the permission for merger from central bank, Nepal Rastra Bank in Mid-July, 2012. But, these entities later asked for the extension of time duration for further three months i.e. till July 9, 2013. The reason behind this was said to be delay in the Due Diligence Audit (DDA) of the companies. </p> <p> Now the DDA has been completed and the share swap ratio and number of members in the new board of directors have been finalized. The merged entity is to be a national level development bank with a proposed name of ‘Apex Development Bank Limited’. The capital of the newly formed entity will be Rs 666,563,200. The head office of the new development bank will be located at Darbar Marga, Kathmandu and will have 16 branches and 3 extension counters across the country.</p>', 'published' => true, 'created' => '2013-07-01', 'modified' => '2013-07-01', '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 merger process among the Royal Merchant Banking and Finance of Kathmandu, Rara Development Bank of Surkhet and Api F i n a n c e of Kaski w h i c h was delayed for three months has regained its pace.', 'sortorder' => '1140', '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
