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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' => '2736', 'article_category_id' => '138', 'title' => 'UMN's 60 Years In Nepal Celebrated', 'sub_title' => '', 'summary' => null, 'content' => '<div> United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.</div> <div> </div> <div> Congratulating UMN on these achievements, the Minister for Energy, Radha Kumari Gyawali said, "The nation hopes for UMN's continuous service and contribution in the coming days; the work must go on." Recognising some current difficulties regarding UMN's headquarters property, Gyawali promised to work with all parties to achieve a fair and just resolution. </div> <div> </div> <div> A commemorative stone was unveiled by UMN's Executive Director Dr Mark Galpin and Madan Prasad Rimal, director of the Social Welfare Council. Rimal praised the organisation's work and commitment to the poor in Nepal. "UMN came to work in Nepal in 1954. The Government of Nepal invited them to come and start work here. I can say confidently that all the work that UMN has done in these 60 years has been according to the priority and the need of the Government of Nepal," he said "They have always been transparent in matters of resources and finance." More than 300 UMN staff and former staff, representatives of other INGOs, government, and the christian community observed the programme.</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.', 'sortorder' => '2603', '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' => '2735', 'article_category_id' => '138', 'title' => 'India Approves Rs 1,765 Crore For Hydropower Project In Bhutan', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar. </div> <div> </div> <div> The approved amount of Rs 1,765 crore would be released in April after the completion of internal procedures within the Government of India, according to a press release from Bhutan's Ministry of Foreign Affairs. Singh also conveyed Indian government's approval of the draft Intergovernmental Agreement between Bhutan and India concerning the development of Joint Venture Hydropower Projects. Under the draft agreement - expected to be signed soon - four projects have been identified: the Kholongchhu project (600 MW), the Wangchhu (570 MW), the Chamkharchhu (770 MW) and Bunakha (180 MW). Work on the Kholongchhu project can start as soon as the Intergovernmental Joint Venture is signed between the two countries, the release said. (The Economic Times)</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar.', 'sortorder' => '2602', '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' => '2693', 'article_category_id' => '138', 'title' => 'UN Report Sees USD 1.45 Trillion Global Warming Cost', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported. </div> <div> </div> <div> The trilogy is the IPCC's first great overview of the causes and effects of global warming, and options for dealing with it, since 2007. According to the draft, if global temperatures rise by 2.5 degrees Celsius (4.5 Fahrenheit), the world's aggregated gross domestic production will fall by 0.2 to 2 percent, the mass circulation said. That would translate into 15 trillion yen to 148 trillion yen ($147 billion to $1.45 trillion) in economic losses, calculated against the world's total GDP in 2012, it said. </div> <div> </div> <div> The planet's crop production will decline by up to two percent every decade as rainfall patterns shift and droughts batter farmland, even as demand for food rises a projected 14 percent, it said. Other effects from global warming include the loss of land to rising sea levels, forcing hundreds of millions of people to migrate from coastal areas, with the most vulnerable regions including East, South and Southeast Asia, it said. </div> <div> </div> <div> The draft report, which will be reviewed in the March 25-29 meeting in Yokohama, calls for mitigation measures to reduce the vulnerability of environments to climate change such as flood protection projects and research on the prevention of infectious diseases, it said. In the first volume of the trilogy, the IPCC said it was more certain than ever that humans were the cause of global warming and predicted temperatures would rise another 0.3 to 4.8 degrees Celsius (0.5-8.6 degrees Fahrenheit) this century. Heatwaves, floods, droughts and rising seas are among the threats that will intensify through warming, it said in in the report released in September in Stockholm. </div> <div> </div> <div> UN climate chief Christiana Figueres said the report was "an alarm-clock moment for the world". "To steer humanity out of the high danger zone, governments must step up immediate climate action and craft an agreement in 2015" against greenhouse gases, she said at the time. The IPCC has delivered four previous assessments in its 25-year history. Each edition has sounded an ever-louder siren to warn that temperatures are rising and the risk to the climate system is accentuating. </div> <div> </div> <div> The projections for this century are based on computer models of trends in heat-trapping greenhouse gas emissions, especially from coal, oil and gas, which provide the backbone of energy supply today. A Japanese environment ministry official declined to comment on the report, citing IPCC's request to keep it behind closed doors until the final version is approved in Yokohama. (AFP)</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported.', 'sortorder' => '2541', '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' => '2692', 'article_category_id' => '138', 'title' => 'Corruption Prevails At All Levels Of Nepal Government: US DoS', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states. </div> <div> </div> <div> The report released by US Secretary of State John Kerry on Thursday, 27th February further said that there were numerous reports of corrupt actions by government officials, political parties, and party-affiliated organizations. “The UCPN(M) and CPN-M, in particular, reportedly demanded money from schools, businesses, workers, private citizens, and NGOs,” it said. “There were less frequent reports that student and labor groups associated with other political parties also demanded contributions from schools and businesses.” The US DoS also claimed that corruption and impunity remained general problems within the Nepal Police.</div> <div> </div> <div> Similarly, the report also said that a large number of public officials were refraining from disclosing their annual financial statements. “According to the National Vigilance Center, the body mandated to monitor financial disclosures and make them available to the public, an estimated 35,000 Nepali civil servants had not submitted and disclosed their annual financial statements as required by law in 2012,” the report informed. </div> <div> </div> <div> The report, however, mentioned some signs of progress in tackling corruption after the appointment of new leadership at the Commission for the Investigation of the Abuse of Authority (CIAA) last year. “Under new leadership, the CIAA took high-profile actions against the Nepal Energy Authority, the Department of Immigration, and the Department of Foreign Employment,” the report said. The interim government led by former Chairman of the Council of Ministers Khil Raj Regmi named chief commissioner and one associate commissioner at CIAA in 2013.Before that the apex constitutional body for corruption control was leadership less for about five-year period.</div> <div> </div> <div> According to the report, in August and September, the CIAA arrested 18 officials from the Department of Immigration, 15 from the Department of Foreign Employment, and nine from the Tribhuvan International Airport labour desk for sending 77 Nepali migrants to Qatar with fraudulent or improper documentation – a human trafficking-related offense. The most senior official arrested was the director general of the Department of Foreign Employment.</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states.', 'sortorder' => '2540', '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' => '2662', 'article_category_id' => '138', 'title' => 'Bhutan, Nissan Partner On Electric Cars', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil. </div> <div> </div> <div> Under the agreement announced today, Nissan will supply its Leaf electric car and set up charging stations in Bhutan. Bhutan, with a population of 720,000, produces and exports hydro-electricity. But it’s eager to reduce its dependence on fossil fuels shipped in from abroad. </div> <div> </div> <div> The tiny landlocked country was long known for measuring “gross national happiness” instead of traditional indicators of prosperity such as GDP. But since 2013, a new government under Prime Minister Tshering Tobgay has downplayed it as a distraction from problems of poverty and corruption. </div> <div> </div> <div> The Leaf is the world’s best-selling electric car, selling a cumulative 100,000 so far since going on sale in late 2010, comprising 45 percent of the global electric vehicle market. </div> <div> </div> <div> The car has struggled to reach a critical mass in sales, especially when compared to hybrid models, for instance, but the Leaf remains the symbol of Nissan’s commitment to the environment and shows off its engineering prowess. </div> <div> </div> <div> Nissan has agreements with more than 100 nations, states and cities globally to promote electric cars, including the Spanish city of Barcelona and Sao Paulo in Brazil. </div> <div> </div> <div> Most deals in electric cars tend to be with developed nations, making Bhutan a relatively unusual case. Nissan wants to study how its electric vehicle business fits with a developing nation that has substantial clean energy resources. </div> <div> </div> <div> Nissan declined to disclose the number of electric cars involved or the monetary value for the Bhutan deal. </div> <div> </div> <div> Feasibility studies are planned for how they can cooperate more on the green technology, both sides said. </div> <div> </div> <div> “Nissan’s global experience will be invaluable as we make progress towards an electrified national transport infrastructure,” Tobgay said. </div> <div> </div> <div> Sandwiched between Asian giants China and India, Bhutan was long closed to the rest of the world before starting to open up in the 1960s. Foreigners and the international media were first admitted in 1974, and television arrived only in 1999. </div> <div> </div> <div> Tobgay, who has a master’s in public administration from Harvard University, has pushed for more power to regular people. </div> <div> </div> <div> Ghosn is today presenting two Leaf vehicles to Bhutan, which is also the birthday of Bhutan’s king. Ghosn said Nissan is supporting Bhutan’s vision for meeting its transport needs in the future. (AP)</div>', 'published' => true, 'created' => '2014-02-24', 'modified' => '2014-02-24', '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 Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil.', 'sortorder' => '2509', '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' => '2653', 'article_category_id' => '138', 'title' => 'Federal Reserve Underestimated The Crisis', 'sub_title' => '', 'summary' => null, 'content' => '<p> If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.<br /> <br /> It wasn't until after Lehman Brothers collapsed in mid-September that Bernanke said he was absolutely sure the US had entered a recession. On Friday morning, the Federal Reserve released more than 1,500 pages featuring wordfor- word transcripts from its 14 policymaking meetings and conference calls in 2008. This was a critical year in which the Fed decided to slash its interest rates to near zero and launch an unprecedented bond-buying program, all in an attempt to stimulate the US economy.<br /> <br /> But leading up to those decisions, Federal Reserve officials seemed uncertain about their economic outlook and their actions. The transcripts show they focused heavily on fears about inflation and instability in financial markets, while mentions of unemployment are few and far between. To be fair, the data then did not yet point to the full-blown jobs crisis that has since followed.<br /> <br /> Meeting just a day after Lehman Brothers filed for bankruptcy in September 2008, they couldn't agree on whether their decision to allow the investment bank to fail was the right move. "I think it's too soon to know whether what we did with Lehman is right," said Boston Fed President Eric Rosengren. "I think we did the right thing given the constraints that we had. I hope we get through this week." Stocks had just had their worst day in seven years, with the Dow falling more than 500 points in one trading session, and AIG was on the brink of a collapse. Yet despite their concerns about market stability, Fed officials decided to hold off on lowering their key interest rate at that September meeting.<br /> <br /> The magnitude of the crisis was finally sinking in with officials. The Fed decided to slash its key interest rate twice that month, and then in December, it cut the rate to near zero -- where it still sits five years later.<br /> <br /> "As you know, we are at a historic juncture -- both for the U.S. economy and for the Federal Reserve," Bernanke said at the final meeting that year. "The financial and economic crisis is severe despite extraordinary efforts not only by the Federal Reserve but also by other policymakers here and around the world."<br /> <br /> Even then, the Fed was still overly optimistic. The central bank predicted unemployment would peak at 8.25% in 2010. Instead, it peaked at 10%.<br /> <strong>(www.money.cnn.com)</strong></p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', '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' => 'If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.', 'sortorder' => '2502', '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' => '2596', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (17 - 27 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Europe Sees First Annual Growth Since 2011</strong></span></div> <div> Led by a return to growth in France and Italy and stronger performance in key economies such as Germany, the Netherlands and Spain, Europe’s economy grew on an annual basis for the first time in two years, as a recovery picked up pace slightly in the last three months of 2013. Eurozone GDP rose by 0.3% in the fourth quarter, compared with the third quarter, and by 0.5% over the same period of 2012, according to figures released Friday by Eurostat. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gold Races Above $1,300</strong></span></div> <div> Gold hit three-month highs on Friday and looked set to post its biggest weekly gain in six months as more weak US data raised fears about economic growth, hurting the dollar. Spot gold rose to its highest since Nov. 8 at $1,312.40 earlier in the session, and was up 0.8 per cent to $1,311.90 an ounce. It is up around four percent for the week - the largest such gain since mid-August.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Comcast Buys Time Warner Cable for $45 bn</strong></span></div> <div> Comcast, the world’s largest mass media and communication company said Thursday it had agreed to buy Time Warner Cable for $45 billion in a deal that would combine the two biggest cable companies in the United States. If the deal is approved, the combined group will be the country’s dominant provider of television channels and Internet connections, reaching roughly one in three American homes.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Lenovo Sales Hit Record High </strong></span></div> <div> Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market. The Chinese company said net income grew by 30% to $265.3 million in the final three months of the year. The results put Lenovo on solid footing as it branches out from its core PC business and enters the smartphone business in a big way.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mark Zuckerberg Biggest US 2013 Philanthropist</strong></span></div> <div> Mark Zuckerberg and his wife,Priscilla Chan, were the most generous American philanthropists in 2013, with a donation of 18 million shares of Facebook stock valued at more than $970 million to a Silicon Valley nonprofit. The Chronicle of Philanthropy reported Monday that Zuckerberg’s donation was the largest charitable gift on the public record in 2013 and put the young couple at the top of the magazine’s list of 50 most generous Americans in 2013. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market.', 'sortorder' => '2439', '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' => '2595', 'article_category_id' => '138', 'title' => 'South Asian Airlines Projected To Add 18,000 New Aircraft By 2032', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said. “Asia Pacific economies and passenger traffic continue to exhibit strong growth,” Tinseth told reporters ahead of the opening of the Singapore Airshow from tomorrow.</div> <div> </div> <div> Comparatively, airlines in China were expected to add 5,500 new planes and those in Southeast Asia 3,000. Overall, Boeing has forecast USD 1.9 trillion investment on 12,820 new aircraft over the 20-year period in Asia Pacific, representing 36 per cent of the world’s new airplane deliveries. “Over the next 20 years, nearly half of the world’s air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple – from 5,090 airplanes in 2012 to 14,750 in 2032 – to support the increased demand," he said. </div> <div> </div> <div> Boeing’s data projects that passenger airlines in the region would rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 MAX, a new-engine variant of the market-leading 737, to connect passengers. Single-aisle airplanes would represent 69 per cent of the new airplanes in the region. “New low-cost carriers and demand for intra-Asia travel have fuelled the substantial increase in single-aisle airplanes,” said Tinseth. “Fuel-efficient airplanes like the Next-Generation 737 and 737 MAX help the growing number of low-cost carriers operate more efficiently and provide affordable fares to the emerging middle class,” he added.</div> <div> </div> <div> For long-haul traffic, Boeing forecast twin-aisle planes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for 28 per cent of new airplane deliveries. Boeing’s recently launched 787-10 and 777X will also support the demand for fuel-efficient twin-aisle airplanes in the region. Singapore Airlines has already ordered 30 787-10s helping launch the programme at the 2013 Paris Air Show and Cathay Pacific recently ordered 21 777-9X airplanes, he said.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said.', 'sortorder' => '2438', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2594', 'article_category_id' => '138', 'title' => 'Development Is Being Derailed By Ignoring Equality, Rights And Women’s Health: UN', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations. The report published by United Nations Population Fund (UNFPA) says many of the estimated 1 billion people living in the 50-60 poorest countries will stagnate as the rest of the world gets richer, and the growing inequality threatens economic development. It, however, notes that the number of people living in extreme poverty in developing countries has fallen dramatically from 47 per cent in 1990 to 22 per cent in 2010. Accordingly, it says richer countries have made advances toward equality for women and provided greater access to sexual and reproductive health care over the past two decades but the poorest countries have made little progress. </div> <div> </div> <div> According to the report, fewer women are dying in pregnancy and childbirth and more women have access to education, work and political participation today in rich countries. But it says the poorest communities have seen little progress in improving women's status or reducing maternal deaths and child marriages.</div> <div> </div> <div> "Research suggests a significant positive correlation between female education, healthier families, and stronger Gross Domestic Product growth. The entry of women into Eastern and Southern Asia’s export manufacturing sector, among other factors, has been a key driver of economic growth and contributed to a shift in the concentration of global wealth from West to East," it says. The report notes that gains in girls’ educational attainment is contributing to both Asia’s and Latin America’s success in knowledge-based economy.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations.', 'sortorder' => '2437', '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' => '2505', 'article_category_id' => '138', 'title' => 'Unemployment On The Rise In South Asia: ILO', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. “The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth – growth that also leads to job creation in the formal economy,” it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region. </div> <div> </div> <div> However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region’s labour market. “In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,” the report said. </div> <div> </div> <div> According to ILO estimates Nepal’s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region’s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div> <div> Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.”The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan¬istan to 79.4 per cent in Nepal,” it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div> <div> ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. “The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,” ILO said. Based on the current trends, ILO said “global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-17', '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' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.', 'sortorder' => '2430', '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' => '2552', 'article_category_id' => '138', 'title' => 'How New CEO Nadella Will Affect Microsoft Products, Consumers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.</div> <div> </div> <div> Microsoft has struggled with its consumer-based products, spreading itself too thin and falling behind the tech gadget curve, says Yahoo Finance’s Jeff Macke.</div> <div> </div> <div> “Microsoft has made a lot of noise about becoming a consumer company,” argues Macke in the above video clip. But the company has been “trying to be a little bit of all things to all people for too long...it can’t satisfy both the enterprise (business) and everyday customer.”</div> <div> </div> <div> Microsoft’s business products -- Excel and Office -- are still in high demand with small businesses and Fortune 500 companies. But the company has failed with tablets and smartphones, devices that are deeply popular with consumers. For example, Microsoft sold $893 million worth of its “Surface” tablets in the holiday quarter -- a blip compared to Apple’s $11.5 billion worth of iPads. Consumers purchased about a million Surface tablets last quarter versus Apple’s 26 million.</div> <div> </div> <div> Nadella told employees in a letter Tuesday that the company is “headed for greater places” and it’s their duty to make sure “that Microsoft thrives in a mobile and cloud-first world.” He continues:</div> <div> </div> <div> “The opportunity ahead will require us to reimagine a lot of what we have done in the past for a mobile and cloud-first world, and do new things,” he writes “Our industry does not respect tradition -- it only respects innovation. This is a critical time for the industry and for Microsoft. Make no mistake, we are headed for greater places -- as technology evolves and we evolve with and ahead of it. Our job is to ensure that Microsoft thrives in a mobile and cloud-first world.”</div> <div> </div> <div> Nadella replaces Steve Ballmer, who announced his retirement last August. Ballmer took over as CEO for Microsoft co-founder Bll Gates in 2000. Gates has officially stepped down as chairman of Microsoft’s board; he will now advise Nadella on technology-related issues.</div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.', 'sortorder' => '2399', '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' => '2545', 'article_category_id' => '138', 'title' => 'Worst Is Yet To Come For ‘Fragile Five’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <div> Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.</div> <div> </div> <div> So after years of rapid expansion, and relative calm, what’s going wrong?</div> <div> </div> <div> For one, economic growth has slowed. As a group, emerging and developing economies grew on average by 6.4% over the past decade. Last year, that number was 4.5% and it’s forecast to rise only modestly in 2014. And signs of instability in China’s huge shadow banking system have raised fears of a credit crunch that would make it hard for Beijing to deliver its 7.5% growth target. The first decline in factory activity in six months has only made matters worse.</div> <div> </div> <div> Cheap money is also drying up. The Federal Reserve said Wednesday that it would continue pulling back on its stimulus, to the tune of $10 billion. That means the U.S. central bank will pump $65 billion a month into the U.S. economy, down $20 billion from December. And the flow of cash is likely to cease completely by the end of this year. But that doesn’t entirely explain the dramatic moves seen in some markets. Take India, for example. “The (Fed) decision was expected and should not in any way surprise or affect the Indian markets,” the Indian finance ministry said Thursday. That country’s central bank surprised investors with an interest rate hike this week, in an effort to calm the turmoil.</div> <div> </div> <div> Still, the gradual normalization of monetary policy and rising U.S. interest rates make it less attractive to invest in emerging markets, particularly those which have failed to tackle deep-rooted problems during the years of plenty, or where other risks abound.</div> <div> </div> <div> And that’s where the Fragile Five come in. Over the past year or two, all have experienced slower growth, along with a heavy dependence on foreign capital, and stubbornly high inflation of between 6% and 11%. “Several of the most vulnerable emerging markets in terms of external balances -- Turkey, South Africa and Brazil -- have not yet seen their currencies fall to fair value,” UBS noted this week.</div> <div> </div> <div> HSBC Chief Economist Stephen King said some of the weakest were experiencing a loss of competitiveness similar to that seen in countries of the euro zone periphery before the euro crisis. Political upheaval is another thing they have in common, and may be the single factor that determines whether they can bounce back or not.</div> <div> </div> <div> The Fragile Five all face elections at some point in 2014, making painful reforms even less likely. In Turkey, where the lira fell to a record low this week despite interest rates almost doubling overnight, the prime minister has faced calls to resign over a wide-ranging probe into corruption. Local and presidential elections are due later this year. The African National Congress may well lose ground in parliamentary elections this year but are still likely to form the next South African government. That will reduce the chances of major reform.</div> <div> </div> <div> India’s finance minister was talking up his country’s prospects at last week’s World Economic Forum ahead of national elections, but a weak coalition and continued policy stagnation remains the most likely outcome.</div> <div> </div> <div> Brazil may catch a break from hosting the soccer World Cup in June, and in Indonesia, the popular governor of Jakarta is a clear front-runner for July’s presidential election. But the biggest economies in Latin America and South East Asia are not out of the woods.</div> <div> </div> <div> “There is a risk of the problems spreading to other countries. Brazil and Indonesia, for example, have current account deficits, exposure to China and lofty inflation,” noted BNP Paribas economist Dominic Bryant. (CNN) </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-08', 'modified' => '2014-02-18', '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' => 'Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.', 'sortorder' => '2390', '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' => '2506', 'article_category_id' => '138', 'title' => 'Nepal's Rice Production To Increase: USDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh. </div> <div> </div> <div> USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation's Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal's rice production to increase to 4.6 million tonnes last year. According to the UN agency, timely and sufficient monsoon downpour contributed to the country's rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. </div> <div> </div> <div> Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.', 'sortorder' => '2352', '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' => '2507', 'article_category_id' => '138', 'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. "All three reflect a dim view of the future, one that says the world isn't improving but staying poor and sick, and getting overcrowded," Bill Gates writes in the 16-page letter. "We're going to make the opposite case, that the world is getting better, and that in two decades it will be better still." Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies. </div> <div> </div> <div> And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world's most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it's less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families. </div> <div> </div> <div> In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries — that they're plagued by natural disasters, political instability and corruption — have prevented people from understanding how much progress has been made.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', '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' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.', 'sortorder' => '2350', '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' => '2465', 'article_category_id' => '138', 'title' => 'Nepal Falls In Economic Freedom Ranking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. “Nepal’s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption…its score remains far below world and regional averages” informed the report. According to the report, this year’s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets. </div> <div> </div> <div> <img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. “Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,” the report said. Considered as a “mostly unfree” economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div> <div> </div> <div> “Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,” it said. </div> <div> </div> <div> In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of ‘moderately free’ economy. China, the world’s second largest and Asia’s biggest economy, ranked 139th.</div> <div> </div> <div> Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world’s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div> </div> <p> </p>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', '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 has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.', 'sortorder' => '2349', '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' => '2736', 'article_category_id' => '138', 'title' => 'UMN's 60 Years In Nepal Celebrated', 'sub_title' => '', 'summary' => null, 'content' => '<div> United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.</div> <div> </div> <div> Congratulating UMN on these achievements, the Minister for Energy, Radha Kumari Gyawali said, "The nation hopes for UMN's continuous service and contribution in the coming days; the work must go on." Recognising some current difficulties regarding UMN's headquarters property, Gyawali promised to work with all parties to achieve a fair and just resolution. </div> <div> </div> <div> A commemorative stone was unveiled by UMN's Executive Director Dr Mark Galpin and Madan Prasad Rimal, director of the Social Welfare Council. Rimal praised the organisation's work and commitment to the poor in Nepal. "UMN came to work in Nepal in 1954. The Government of Nepal invited them to come and start work here. I can say confidently that all the work that UMN has done in these 60 years has been according to the priority and the need of the Government of Nepal," he said "They have always been transparent in matters of resources and finance." More than 300 UMN staff and former staff, representatives of other INGOs, government, and the christian community observed the programme.</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.', 'sortorder' => '2603', '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' => '2735', 'article_category_id' => '138', 'title' => 'India Approves Rs 1,765 Crore For Hydropower Project In Bhutan', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar. </div> <div> </div> <div> The approved amount of Rs 1,765 crore would be released in April after the completion of internal procedures within the Government of India, according to a press release from Bhutan's Ministry of Foreign Affairs. Singh also conveyed Indian government's approval of the draft Intergovernmental Agreement between Bhutan and India concerning the development of Joint Venture Hydropower Projects. Under the draft agreement - expected to be signed soon - four projects have been identified: the Kholongchhu project (600 MW), the Wangchhu (570 MW), the Chamkharchhu (770 MW) and Bunakha (180 MW). Work on the Kholongchhu project can start as soon as the Intergovernmental Joint Venture is signed between the two countries, the release said. (The Economic Times)</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar.', 'sortorder' => '2602', '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' => '2693', 'article_category_id' => '138', 'title' => 'UN Report Sees USD 1.45 Trillion Global Warming Cost', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported. </div> <div> </div> <div> The trilogy is the IPCC's first great overview of the causes and effects of global warming, and options for dealing with it, since 2007. According to the draft, if global temperatures rise by 2.5 degrees Celsius (4.5 Fahrenheit), the world's aggregated gross domestic production will fall by 0.2 to 2 percent, the mass circulation said. That would translate into 15 trillion yen to 148 trillion yen ($147 billion to $1.45 trillion) in economic losses, calculated against the world's total GDP in 2012, it said. </div> <div> </div> <div> The planet's crop production will decline by up to two percent every decade as rainfall patterns shift and droughts batter farmland, even as demand for food rises a projected 14 percent, it said. Other effects from global warming include the loss of land to rising sea levels, forcing hundreds of millions of people to migrate from coastal areas, with the most vulnerable regions including East, South and Southeast Asia, it said. </div> <div> </div> <div> The draft report, which will be reviewed in the March 25-29 meeting in Yokohama, calls for mitigation measures to reduce the vulnerability of environments to climate change such as flood protection projects and research on the prevention of infectious diseases, it said. In the first volume of the trilogy, the IPCC said it was more certain than ever that humans were the cause of global warming and predicted temperatures would rise another 0.3 to 4.8 degrees Celsius (0.5-8.6 degrees Fahrenheit) this century. Heatwaves, floods, droughts and rising seas are among the threats that will intensify through warming, it said in in the report released in September in Stockholm. </div> <div> </div> <div> UN climate chief Christiana Figueres said the report was "an alarm-clock moment for the world". "To steer humanity out of the high danger zone, governments must step up immediate climate action and craft an agreement in 2015" against greenhouse gases, she said at the time. The IPCC has delivered four previous assessments in its 25-year history. Each edition has sounded an ever-louder siren to warn that temperatures are rising and the risk to the climate system is accentuating. </div> <div> </div> <div> The projections for this century are based on computer models of trends in heat-trapping greenhouse gas emissions, especially from coal, oil and gas, which provide the backbone of energy supply today. A Japanese environment ministry official declined to comment on the report, citing IPCC's request to keep it behind closed doors until the final version is approved in Yokohama. (AFP)</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported.', 'sortorder' => '2541', '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' => '2692', 'article_category_id' => '138', 'title' => 'Corruption Prevails At All Levels Of Nepal Government: US DoS', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states. </div> <div> </div> <div> The report released by US Secretary of State John Kerry on Thursday, 27th February further said that there were numerous reports of corrupt actions by government officials, political parties, and party-affiliated organizations. “The UCPN(M) and CPN-M, in particular, reportedly demanded money from schools, businesses, workers, private citizens, and NGOs,” it said. “There were less frequent reports that student and labor groups associated with other political parties also demanded contributions from schools and businesses.” The US DoS also claimed that corruption and impunity remained general problems within the Nepal Police.</div> <div> </div> <div> Similarly, the report also said that a large number of public officials were refraining from disclosing their annual financial statements. “According to the National Vigilance Center, the body mandated to monitor financial disclosures and make them available to the public, an estimated 35,000 Nepali civil servants had not submitted and disclosed their annual financial statements as required by law in 2012,” the report informed. </div> <div> </div> <div> The report, however, mentioned some signs of progress in tackling corruption after the appointment of new leadership at the Commission for the Investigation of the Abuse of Authority (CIAA) last year. “Under new leadership, the CIAA took high-profile actions against the Nepal Energy Authority, the Department of Immigration, and the Department of Foreign Employment,” the report said. The interim government led by former Chairman of the Council of Ministers Khil Raj Regmi named chief commissioner and one associate commissioner at CIAA in 2013.Before that the apex constitutional body for corruption control was leadership less for about five-year period.</div> <div> </div> <div> According to the report, in August and September, the CIAA arrested 18 officials from the Department of Immigration, 15 from the Department of Foreign Employment, and nine from the Tribhuvan International Airport labour desk for sending 77 Nepali migrants to Qatar with fraudulent or improper documentation – a human trafficking-related offense. The most senior official arrested was the director general of the Department of Foreign Employment.</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states.', 'sortorder' => '2540', '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' => '2662', 'article_category_id' => '138', 'title' => 'Bhutan, Nissan Partner On Electric Cars', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil. </div> <div> </div> <div> Under the agreement announced today, Nissan will supply its Leaf electric car and set up charging stations in Bhutan. Bhutan, with a population of 720,000, produces and exports hydro-electricity. But it’s eager to reduce its dependence on fossil fuels shipped in from abroad. </div> <div> </div> <div> The tiny landlocked country was long known for measuring “gross national happiness” instead of traditional indicators of prosperity such as GDP. But since 2013, a new government under Prime Minister Tshering Tobgay has downplayed it as a distraction from problems of poverty and corruption. </div> <div> </div> <div> The Leaf is the world’s best-selling electric car, selling a cumulative 100,000 so far since going on sale in late 2010, comprising 45 percent of the global electric vehicle market. </div> <div> </div> <div> The car has struggled to reach a critical mass in sales, especially when compared to hybrid models, for instance, but the Leaf remains the symbol of Nissan’s commitment to the environment and shows off its engineering prowess. </div> <div> </div> <div> Nissan has agreements with more than 100 nations, states and cities globally to promote electric cars, including the Spanish city of Barcelona and Sao Paulo in Brazil. </div> <div> </div> <div> Most deals in electric cars tend to be with developed nations, making Bhutan a relatively unusual case. Nissan wants to study how its electric vehicle business fits with a developing nation that has substantial clean energy resources. </div> <div> </div> <div> Nissan declined to disclose the number of electric cars involved or the monetary value for the Bhutan deal. </div> <div> </div> <div> Feasibility studies are planned for how they can cooperate more on the green technology, both sides said. </div> <div> </div> <div> “Nissan’s global experience will be invaluable as we make progress towards an electrified national transport infrastructure,” Tobgay said. </div> <div> </div> <div> Sandwiched between Asian giants China and India, Bhutan was long closed to the rest of the world before starting to open up in the 1960s. Foreigners and the international media were first admitted in 1974, and television arrived only in 1999. </div> <div> </div> <div> Tobgay, who has a master’s in public administration from Harvard University, has pushed for more power to regular people. </div> <div> </div> <div> Ghosn is today presenting two Leaf vehicles to Bhutan, which is also the birthday of Bhutan’s king. Ghosn said Nissan is supporting Bhutan’s vision for meeting its transport needs in the future. (AP)</div>', 'published' => true, 'created' => '2014-02-24', 'modified' => '2014-02-24', '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 Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil.', 'sortorder' => '2509', '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' => '2653', 'article_category_id' => '138', 'title' => 'Federal Reserve Underestimated The Crisis', 'sub_title' => '', 'summary' => null, 'content' => '<p> If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.<br /> <br /> It wasn't until after Lehman Brothers collapsed in mid-September that Bernanke said he was absolutely sure the US had entered a recession. On Friday morning, the Federal Reserve released more than 1,500 pages featuring wordfor- word transcripts from its 14 policymaking meetings and conference calls in 2008. This was a critical year in which the Fed decided to slash its interest rates to near zero and launch an unprecedented bond-buying program, all in an attempt to stimulate the US economy.<br /> <br /> But leading up to those decisions, Federal Reserve officials seemed uncertain about their economic outlook and their actions. The transcripts show they focused heavily on fears about inflation and instability in financial markets, while mentions of unemployment are few and far between. To be fair, the data then did not yet point to the full-blown jobs crisis that has since followed.<br /> <br /> Meeting just a day after Lehman Brothers filed for bankruptcy in September 2008, they couldn't agree on whether their decision to allow the investment bank to fail was the right move. "I think it's too soon to know whether what we did with Lehman is right," said Boston Fed President Eric Rosengren. "I think we did the right thing given the constraints that we had. I hope we get through this week." Stocks had just had their worst day in seven years, with the Dow falling more than 500 points in one trading session, and AIG was on the brink of a collapse. Yet despite their concerns about market stability, Fed officials decided to hold off on lowering their key interest rate at that September meeting.<br /> <br /> The magnitude of the crisis was finally sinking in with officials. The Fed decided to slash its key interest rate twice that month, and then in December, it cut the rate to near zero -- where it still sits five years later.<br /> <br /> "As you know, we are at a historic juncture -- both for the U.S. economy and for the Federal Reserve," Bernanke said at the final meeting that year. "The financial and economic crisis is severe despite extraordinary efforts not only by the Federal Reserve but also by other policymakers here and around the world."<br /> <br /> Even then, the Fed was still overly optimistic. The central bank predicted unemployment would peak at 8.25% in 2010. Instead, it peaked at 10%.<br /> <strong>(www.money.cnn.com)</strong></p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', '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' => 'If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.', 'sortorder' => '2502', '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' => '2596', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (17 - 27 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Europe Sees First Annual Growth Since 2011</strong></span></div> <div> Led by a return to growth in France and Italy and stronger performance in key economies such as Germany, the Netherlands and Spain, Europe’s economy grew on an annual basis for the first time in two years, as a recovery picked up pace slightly in the last three months of 2013. Eurozone GDP rose by 0.3% in the fourth quarter, compared with the third quarter, and by 0.5% over the same period of 2012, according to figures released Friday by Eurostat. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gold Races Above $1,300</strong></span></div> <div> Gold hit three-month highs on Friday and looked set to post its biggest weekly gain in six months as more weak US data raised fears about economic growth, hurting the dollar. Spot gold rose to its highest since Nov. 8 at $1,312.40 earlier in the session, and was up 0.8 per cent to $1,311.90 an ounce. It is up around four percent for the week - the largest such gain since mid-August.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Comcast Buys Time Warner Cable for $45 bn</strong></span></div> <div> Comcast, the world’s largest mass media and communication company said Thursday it had agreed to buy Time Warner Cable for $45 billion in a deal that would combine the two biggest cable companies in the United States. If the deal is approved, the combined group will be the country’s dominant provider of television channels and Internet connections, reaching roughly one in three American homes.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Lenovo Sales Hit Record High </strong></span></div> <div> Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market. The Chinese company said net income grew by 30% to $265.3 million in the final three months of the year. The results put Lenovo on solid footing as it branches out from its core PC business and enters the smartphone business in a big way.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mark Zuckerberg Biggest US 2013 Philanthropist</strong></span></div> <div> Mark Zuckerberg and his wife,Priscilla Chan, were the most generous American philanthropists in 2013, with a donation of 18 million shares of Facebook stock valued at more than $970 million to a Silicon Valley nonprofit. The Chronicle of Philanthropy reported Monday that Zuckerberg’s donation was the largest charitable gift on the public record in 2013 and put the young couple at the top of the magazine’s list of 50 most generous Americans in 2013. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market.', 'sortorder' => '2439', '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' => '2595', 'article_category_id' => '138', 'title' => 'South Asian Airlines Projected To Add 18,000 New Aircraft By 2032', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said. “Asia Pacific economies and passenger traffic continue to exhibit strong growth,” Tinseth told reporters ahead of the opening of the Singapore Airshow from tomorrow.</div> <div> </div> <div> Comparatively, airlines in China were expected to add 5,500 new planes and those in Southeast Asia 3,000. Overall, Boeing has forecast USD 1.9 trillion investment on 12,820 new aircraft over the 20-year period in Asia Pacific, representing 36 per cent of the world’s new airplane deliveries. “Over the next 20 years, nearly half of the world’s air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple – from 5,090 airplanes in 2012 to 14,750 in 2032 – to support the increased demand," he said. </div> <div> </div> <div> Boeing’s data projects that passenger airlines in the region would rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 MAX, a new-engine variant of the market-leading 737, to connect passengers. Single-aisle airplanes would represent 69 per cent of the new airplanes in the region. “New low-cost carriers and demand for intra-Asia travel have fuelled the substantial increase in single-aisle airplanes,” said Tinseth. “Fuel-efficient airplanes like the Next-Generation 737 and 737 MAX help the growing number of low-cost carriers operate more efficiently and provide affordable fares to the emerging middle class,” he added.</div> <div> </div> <div> For long-haul traffic, Boeing forecast twin-aisle planes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for 28 per cent of new airplane deliveries. Boeing’s recently launched 787-10 and 777X will also support the demand for fuel-efficient twin-aisle airplanes in the region. Singapore Airlines has already ordered 30 787-10s helping launch the programme at the 2013 Paris Air Show and Cathay Pacific recently ordered 21 777-9X airplanes, he said.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said.', 'sortorder' => '2438', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2594', 'article_category_id' => '138', 'title' => 'Development Is Being Derailed By Ignoring Equality, Rights And Women’s Health: UN', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations. The report published by United Nations Population Fund (UNFPA) says many of the estimated 1 billion people living in the 50-60 poorest countries will stagnate as the rest of the world gets richer, and the growing inequality threatens economic development. It, however, notes that the number of people living in extreme poverty in developing countries has fallen dramatically from 47 per cent in 1990 to 22 per cent in 2010. Accordingly, it says richer countries have made advances toward equality for women and provided greater access to sexual and reproductive health care over the past two decades but the poorest countries have made little progress. </div> <div> </div> <div> According to the report, fewer women are dying in pregnancy and childbirth and more women have access to education, work and political participation today in rich countries. But it says the poorest communities have seen little progress in improving women's status or reducing maternal deaths and child marriages.</div> <div> </div> <div> "Research suggests a significant positive correlation between female education, healthier families, and stronger Gross Domestic Product growth. The entry of women into Eastern and Southern Asia’s export manufacturing sector, among other factors, has been a key driver of economic growth and contributed to a shift in the concentration of global wealth from West to East," it says. The report notes that gains in girls’ educational attainment is contributing to both Asia’s and Latin America’s success in knowledge-based economy.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations.', 'sortorder' => '2437', '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' => '2505', 'article_category_id' => '138', 'title' => 'Unemployment On The Rise In South Asia: ILO', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. “The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth – growth that also leads to job creation in the formal economy,” it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region. </div> <div> </div> <div> However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region’s labour market. “In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,” the report said. </div> <div> </div> <div> According to ILO estimates Nepal’s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region’s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div> <div> Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.”The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan¬istan to 79.4 per cent in Nepal,” it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div> <div> ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. “The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,” ILO said. Based on the current trends, ILO said “global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-17', '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' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.', 'sortorder' => '2430', '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' => '2552', 'article_category_id' => '138', 'title' => 'How New CEO Nadella Will Affect Microsoft Products, Consumers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.</div> <div> </div> <div> Microsoft has struggled with its consumer-based products, spreading itself too thin and falling behind the tech gadget curve, says Yahoo Finance’s Jeff Macke.</div> <div> </div> <div> “Microsoft has made a lot of noise about becoming a consumer company,” argues Macke in the above video clip. But the company has been “trying to be a little bit of all things to all people for too long...it can’t satisfy both the enterprise (business) and everyday customer.”</div> <div> </div> <div> Microsoft’s business products -- Excel and Office -- are still in high demand with small businesses and Fortune 500 companies. But the company has failed with tablets and smartphones, devices that are deeply popular with consumers. For example, Microsoft sold $893 million worth of its “Surface” tablets in the holiday quarter -- a blip compared to Apple’s $11.5 billion worth of iPads. Consumers purchased about a million Surface tablets last quarter versus Apple’s 26 million.</div> <div> </div> <div> Nadella told employees in a letter Tuesday that the company is “headed for greater places” and it’s their duty to make sure “that Microsoft thrives in a mobile and cloud-first world.” He continues:</div> <div> </div> <div> “The opportunity ahead will require us to reimagine a lot of what we have done in the past for a mobile and cloud-first world, and do new things,” he writes “Our industry does not respect tradition -- it only respects innovation. This is a critical time for the industry and for Microsoft. Make no mistake, we are headed for greater places -- as technology evolves and we evolve with and ahead of it. Our job is to ensure that Microsoft thrives in a mobile and cloud-first world.”</div> <div> </div> <div> Nadella replaces Steve Ballmer, who announced his retirement last August. Ballmer took over as CEO for Microsoft co-founder Bll Gates in 2000. Gates has officially stepped down as chairman of Microsoft’s board; he will now advise Nadella on technology-related issues.</div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.', 'sortorder' => '2399', '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' => '2545', 'article_category_id' => '138', 'title' => 'Worst Is Yet To Come For ‘Fragile Five’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <div> Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.</div> <div> </div> <div> So after years of rapid expansion, and relative calm, what’s going wrong?</div> <div> </div> <div> For one, economic growth has slowed. As a group, emerging and developing economies grew on average by 6.4% over the past decade. Last year, that number was 4.5% and it’s forecast to rise only modestly in 2014. And signs of instability in China’s huge shadow banking system have raised fears of a credit crunch that would make it hard for Beijing to deliver its 7.5% growth target. The first decline in factory activity in six months has only made matters worse.</div> <div> </div> <div> Cheap money is also drying up. The Federal Reserve said Wednesday that it would continue pulling back on its stimulus, to the tune of $10 billion. That means the U.S. central bank will pump $65 billion a month into the U.S. economy, down $20 billion from December. And the flow of cash is likely to cease completely by the end of this year. But that doesn’t entirely explain the dramatic moves seen in some markets. Take India, for example. “The (Fed) decision was expected and should not in any way surprise or affect the Indian markets,” the Indian finance ministry said Thursday. That country’s central bank surprised investors with an interest rate hike this week, in an effort to calm the turmoil.</div> <div> </div> <div> Still, the gradual normalization of monetary policy and rising U.S. interest rates make it less attractive to invest in emerging markets, particularly those which have failed to tackle deep-rooted problems during the years of plenty, or where other risks abound.</div> <div> </div> <div> And that’s where the Fragile Five come in. Over the past year or two, all have experienced slower growth, along with a heavy dependence on foreign capital, and stubbornly high inflation of between 6% and 11%. “Several of the most vulnerable emerging markets in terms of external balances -- Turkey, South Africa and Brazil -- have not yet seen their currencies fall to fair value,” UBS noted this week.</div> <div> </div> <div> HSBC Chief Economist Stephen King said some of the weakest were experiencing a loss of competitiveness similar to that seen in countries of the euro zone periphery before the euro crisis. Political upheaval is another thing they have in common, and may be the single factor that determines whether they can bounce back or not.</div> <div> </div> <div> The Fragile Five all face elections at some point in 2014, making painful reforms even less likely. In Turkey, where the lira fell to a record low this week despite interest rates almost doubling overnight, the prime minister has faced calls to resign over a wide-ranging probe into corruption. Local and presidential elections are due later this year. The African National Congress may well lose ground in parliamentary elections this year but are still likely to form the next South African government. That will reduce the chances of major reform.</div> <div> </div> <div> India’s finance minister was talking up his country’s prospects at last week’s World Economic Forum ahead of national elections, but a weak coalition and continued policy stagnation remains the most likely outcome.</div> <div> </div> <div> Brazil may catch a break from hosting the soccer World Cup in June, and in Indonesia, the popular governor of Jakarta is a clear front-runner for July’s presidential election. But the biggest economies in Latin America and South East Asia are not out of the woods.</div> <div> </div> <div> “There is a risk of the problems spreading to other countries. Brazil and Indonesia, for example, have current account deficits, exposure to China and lofty inflation,” noted BNP Paribas economist Dominic Bryant. (CNN) </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-08', 'modified' => '2014-02-18', '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' => 'Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.', 'sortorder' => '2390', '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' => '2506', 'article_category_id' => '138', 'title' => 'Nepal's Rice Production To Increase: USDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh. </div> <div> </div> <div> USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation's Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal's rice production to increase to 4.6 million tonnes last year. According to the UN agency, timely and sufficient monsoon downpour contributed to the country's rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. </div> <div> </div> <div> Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.', 'sortorder' => '2352', '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' => '2507', 'article_category_id' => '138', 'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. "All three reflect a dim view of the future, one that says the world isn't improving but staying poor and sick, and getting overcrowded," Bill Gates writes in the 16-page letter. "We're going to make the opposite case, that the world is getting better, and that in two decades it will be better still." Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies. </div> <div> </div> <div> And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world's most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it's less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families. </div> <div> </div> <div> In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries — that they're plagued by natural disasters, political instability and corruption — have prevented people from understanding how much progress has been made.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', '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' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.', 'sortorder' => '2350', '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' => '2465', 'article_category_id' => '138', 'title' => 'Nepal Falls In Economic Freedom Ranking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. “Nepal’s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption…its score remains far below world and regional averages” informed the report. According to the report, this year’s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets. </div> <div> </div> <div> <img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. “Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,” the report said. Considered as a “mostly unfree” economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div> <div> </div> <div> “Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,” it said. </div> <div> </div> <div> In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of ‘moderately free’ economy. China, the world’s second largest and Asia’s biggest economy, ranked 139th.</div> <div> </div> <div> Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world’s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div> </div> <p> </p>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', '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 has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.', 'sortorder' => '2349', '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' => '2736', 'article_category_id' => '138', 'title' => 'UMN's 60 Years In Nepal Celebrated', 'sub_title' => '', 'summary' => null, 'content' => '<div> United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.</div> <div> </div> <div> Congratulating UMN on these achievements, the Minister for Energy, Radha Kumari Gyawali said, "The nation hopes for UMN's continuous service and contribution in the coming days; the work must go on." Recognising some current difficulties regarding UMN's headquarters property, Gyawali promised to work with all parties to achieve a fair and just resolution. </div> <div> </div> <div> A commemorative stone was unveiled by UMN's Executive Director Dr Mark Galpin and Madan Prasad Rimal, director of the Social Welfare Council. Rimal praised the organisation's work and commitment to the poor in Nepal. "UMN came to work in Nepal in 1954. The Government of Nepal invited them to come and start work here. I can say confidently that all the work that UMN has done in these 60 years has been according to the priority and the need of the Government of Nepal," he said "They have always been transparent in matters of resources and finance." More than 300 UMN staff and former staff, representatives of other INGOs, government, and the christian community observed the programme.</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.', 'sortorder' => '2603', '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' => '2735', 'article_category_id' => '138', 'title' => 'India Approves Rs 1,765 Crore For Hydropower Project In Bhutan', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar. </div> <div> </div> <div> The approved amount of Rs 1,765 crore would be released in April after the completion of internal procedures within the Government of India, according to a press release from Bhutan's Ministry of Foreign Affairs. Singh also conveyed Indian government's approval of the draft Intergovernmental Agreement between Bhutan and India concerning the development of Joint Venture Hydropower Projects. Under the draft agreement - expected to be signed soon - four projects have been identified: the Kholongchhu project (600 MW), the Wangchhu (570 MW), the Chamkharchhu (770 MW) and Bunakha (180 MW). Work on the Kholongchhu project can start as soon as the Intergovernmental Joint Venture is signed between the two countries, the release said. (The Economic Times)</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar.', 'sortorder' => '2602', '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' => '2693', 'article_category_id' => '138', 'title' => 'UN Report Sees USD 1.45 Trillion Global Warming Cost', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported. </div> <div> </div> <div> The trilogy is the IPCC's first great overview of the causes and effects of global warming, and options for dealing with it, since 2007. According to the draft, if global temperatures rise by 2.5 degrees Celsius (4.5 Fahrenheit), the world's aggregated gross domestic production will fall by 0.2 to 2 percent, the mass circulation said. That would translate into 15 trillion yen to 148 trillion yen ($147 billion to $1.45 trillion) in economic losses, calculated against the world's total GDP in 2012, it said. </div> <div> </div> <div> The planet's crop production will decline by up to two percent every decade as rainfall patterns shift and droughts batter farmland, even as demand for food rises a projected 14 percent, it said. Other effects from global warming include the loss of land to rising sea levels, forcing hundreds of millions of people to migrate from coastal areas, with the most vulnerable regions including East, South and Southeast Asia, it said. </div> <div> </div> <div> The draft report, which will be reviewed in the March 25-29 meeting in Yokohama, calls for mitigation measures to reduce the vulnerability of environments to climate change such as flood protection projects and research on the prevention of infectious diseases, it said. In the first volume of the trilogy, the IPCC said it was more certain than ever that humans were the cause of global warming and predicted temperatures would rise another 0.3 to 4.8 degrees Celsius (0.5-8.6 degrees Fahrenheit) this century. Heatwaves, floods, droughts and rising seas are among the threats that will intensify through warming, it said in in the report released in September in Stockholm. </div> <div> </div> <div> UN climate chief Christiana Figueres said the report was "an alarm-clock moment for the world". "To steer humanity out of the high danger zone, governments must step up immediate climate action and craft an agreement in 2015" against greenhouse gases, she said at the time. The IPCC has delivered four previous assessments in its 25-year history. Each edition has sounded an ever-louder siren to warn that temperatures are rising and the risk to the climate system is accentuating. </div> <div> </div> <div> The projections for this century are based on computer models of trends in heat-trapping greenhouse gas emissions, especially from coal, oil and gas, which provide the backbone of energy supply today. A Japanese environment ministry official declined to comment on the report, citing IPCC's request to keep it behind closed doors until the final version is approved in Yokohama. (AFP)</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported.', 'sortorder' => '2541', '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' => '2692', 'article_category_id' => '138', 'title' => 'Corruption Prevails At All Levels Of Nepal Government: US DoS', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states. </div> <div> </div> <div> The report released by US Secretary of State John Kerry on Thursday, 27th February further said that there were numerous reports of corrupt actions by government officials, political parties, and party-affiliated organizations. “The UCPN(M) and CPN-M, in particular, reportedly demanded money from schools, businesses, workers, private citizens, and NGOs,” it said. “There were less frequent reports that student and labor groups associated with other political parties also demanded contributions from schools and businesses.” The US DoS also claimed that corruption and impunity remained general problems within the Nepal Police.</div> <div> </div> <div> Similarly, the report also said that a large number of public officials were refraining from disclosing their annual financial statements. “According to the National Vigilance Center, the body mandated to monitor financial disclosures and make them available to the public, an estimated 35,000 Nepali civil servants had not submitted and disclosed their annual financial statements as required by law in 2012,” the report informed. </div> <div> </div> <div> The report, however, mentioned some signs of progress in tackling corruption after the appointment of new leadership at the Commission for the Investigation of the Abuse of Authority (CIAA) last year. “Under new leadership, the CIAA took high-profile actions against the Nepal Energy Authority, the Department of Immigration, and the Department of Foreign Employment,” the report said. The interim government led by former Chairman of the Council of Ministers Khil Raj Regmi named chief commissioner and one associate commissioner at CIAA in 2013.Before that the apex constitutional body for corruption control was leadership less for about five-year period.</div> <div> </div> <div> According to the report, in August and September, the CIAA arrested 18 officials from the Department of Immigration, 15 from the Department of Foreign Employment, and nine from the Tribhuvan International Airport labour desk for sending 77 Nepali migrants to Qatar with fraudulent or improper documentation – a human trafficking-related offense. The most senior official arrested was the director general of the Department of Foreign Employment.</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states.', 'sortorder' => '2540', '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' => '2662', 'article_category_id' => '138', 'title' => 'Bhutan, Nissan Partner On Electric Cars', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil. </div> <div> </div> <div> Under the agreement announced today, Nissan will supply its Leaf electric car and set up charging stations in Bhutan. Bhutan, with a population of 720,000, produces and exports hydro-electricity. But it’s eager to reduce its dependence on fossil fuels shipped in from abroad. </div> <div> </div> <div> The tiny landlocked country was long known for measuring “gross national happiness” instead of traditional indicators of prosperity such as GDP. But since 2013, a new government under Prime Minister Tshering Tobgay has downplayed it as a distraction from problems of poverty and corruption. </div> <div> </div> <div> The Leaf is the world’s best-selling electric car, selling a cumulative 100,000 so far since going on sale in late 2010, comprising 45 percent of the global electric vehicle market. </div> <div> </div> <div> The car has struggled to reach a critical mass in sales, especially when compared to hybrid models, for instance, but the Leaf remains the symbol of Nissan’s commitment to the environment and shows off its engineering prowess. </div> <div> </div> <div> Nissan has agreements with more than 100 nations, states and cities globally to promote electric cars, including the Spanish city of Barcelona and Sao Paulo in Brazil. </div> <div> </div> <div> Most deals in electric cars tend to be with developed nations, making Bhutan a relatively unusual case. Nissan wants to study how its electric vehicle business fits with a developing nation that has substantial clean energy resources. </div> <div> </div> <div> Nissan declined to disclose the number of electric cars involved or the monetary value for the Bhutan deal. </div> <div> </div> <div> Feasibility studies are planned for how they can cooperate more on the green technology, both sides said. </div> <div> </div> <div> “Nissan’s global experience will be invaluable as we make progress towards an electrified national transport infrastructure,” Tobgay said. </div> <div> </div> <div> Sandwiched between Asian giants China and India, Bhutan was long closed to the rest of the world before starting to open up in the 1960s. Foreigners and the international media were first admitted in 1974, and television arrived only in 1999. </div> <div> </div> <div> Tobgay, who has a master’s in public administration from Harvard University, has pushed for more power to regular people. </div> <div> </div> <div> Ghosn is today presenting two Leaf vehicles to Bhutan, which is also the birthday of Bhutan’s king. Ghosn said Nissan is supporting Bhutan’s vision for meeting its transport needs in the future. (AP)</div>', 'published' => true, 'created' => '2014-02-24', 'modified' => '2014-02-24', '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 Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil.', 'sortorder' => '2509', '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' => '2653', 'article_category_id' => '138', 'title' => 'Federal Reserve Underestimated The Crisis', 'sub_title' => '', 'summary' => null, 'content' => '<p> If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.<br /> <br /> It wasn't until after Lehman Brothers collapsed in mid-September that Bernanke said he was absolutely sure the US had entered a recession. On Friday morning, the Federal Reserve released more than 1,500 pages featuring wordfor- word transcripts from its 14 policymaking meetings and conference calls in 2008. This was a critical year in which the Fed decided to slash its interest rates to near zero and launch an unprecedented bond-buying program, all in an attempt to stimulate the US economy.<br /> <br /> But leading up to those decisions, Federal Reserve officials seemed uncertain about their economic outlook and their actions. The transcripts show they focused heavily on fears about inflation and instability in financial markets, while mentions of unemployment are few and far between. To be fair, the data then did not yet point to the full-blown jobs crisis that has since followed.<br /> <br /> Meeting just a day after Lehman Brothers filed for bankruptcy in September 2008, they couldn't agree on whether their decision to allow the investment bank to fail was the right move. "I think it's too soon to know whether what we did with Lehman is right," said Boston Fed President Eric Rosengren. "I think we did the right thing given the constraints that we had. I hope we get through this week." Stocks had just had their worst day in seven years, with the Dow falling more than 500 points in one trading session, and AIG was on the brink of a collapse. Yet despite their concerns about market stability, Fed officials decided to hold off on lowering their key interest rate at that September meeting.<br /> <br /> The magnitude of the crisis was finally sinking in with officials. The Fed decided to slash its key interest rate twice that month, and then in December, it cut the rate to near zero -- where it still sits five years later.<br /> <br /> "As you know, we are at a historic juncture -- both for the U.S. economy and for the Federal Reserve," Bernanke said at the final meeting that year. "The financial and economic crisis is severe despite extraordinary efforts not only by the Federal Reserve but also by other policymakers here and around the world."<br /> <br /> Even then, the Fed was still overly optimistic. The central bank predicted unemployment would peak at 8.25% in 2010. Instead, it peaked at 10%.<br /> <strong>(www.money.cnn.com)</strong></p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', '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' => 'If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.', 'sortorder' => '2502', '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' => '2596', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (17 - 27 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Europe Sees First Annual Growth Since 2011</strong></span></div> <div> Led by a return to growth in France and Italy and stronger performance in key economies such as Germany, the Netherlands and Spain, Europe’s economy grew on an annual basis for the first time in two years, as a recovery picked up pace slightly in the last three months of 2013. Eurozone GDP rose by 0.3% in the fourth quarter, compared with the third quarter, and by 0.5% over the same period of 2012, according to figures released Friday by Eurostat. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gold Races Above $1,300</strong></span></div> <div> Gold hit three-month highs on Friday and looked set to post its biggest weekly gain in six months as more weak US data raised fears about economic growth, hurting the dollar. Spot gold rose to its highest since Nov. 8 at $1,312.40 earlier in the session, and was up 0.8 per cent to $1,311.90 an ounce. It is up around four percent for the week - the largest such gain since mid-August.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Comcast Buys Time Warner Cable for $45 bn</strong></span></div> <div> Comcast, the world’s largest mass media and communication company said Thursday it had agreed to buy Time Warner Cable for $45 billion in a deal that would combine the two biggest cable companies in the United States. If the deal is approved, the combined group will be the country’s dominant provider of television channels and Internet connections, reaching roughly one in three American homes.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Lenovo Sales Hit Record High </strong></span></div> <div> Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market. The Chinese company said net income grew by 30% to $265.3 million in the final three months of the year. The results put Lenovo on solid footing as it branches out from its core PC business and enters the smartphone business in a big way.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mark Zuckerberg Biggest US 2013 Philanthropist</strong></span></div> <div> Mark Zuckerberg and his wife,Priscilla Chan, were the most generous American philanthropists in 2013, with a donation of 18 million shares of Facebook stock valued at more than $970 million to a Silicon Valley nonprofit. The Chronicle of Philanthropy reported Monday that Zuckerberg’s donation was the largest charitable gift on the public record in 2013 and put the young couple at the top of the magazine’s list of 50 most generous Americans in 2013. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market.', 'sortorder' => '2439', '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' => '2595', 'article_category_id' => '138', 'title' => 'South Asian Airlines Projected To Add 18,000 New Aircraft By 2032', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said. “Asia Pacific economies and passenger traffic continue to exhibit strong growth,” Tinseth told reporters ahead of the opening of the Singapore Airshow from tomorrow.</div> <div> </div> <div> Comparatively, airlines in China were expected to add 5,500 new planes and those in Southeast Asia 3,000. Overall, Boeing has forecast USD 1.9 trillion investment on 12,820 new aircraft over the 20-year period in Asia Pacific, representing 36 per cent of the world’s new airplane deliveries. “Over the next 20 years, nearly half of the world’s air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple – from 5,090 airplanes in 2012 to 14,750 in 2032 – to support the increased demand," he said. </div> <div> </div> <div> Boeing’s data projects that passenger airlines in the region would rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 MAX, a new-engine variant of the market-leading 737, to connect passengers. Single-aisle airplanes would represent 69 per cent of the new airplanes in the region. “New low-cost carriers and demand for intra-Asia travel have fuelled the substantial increase in single-aisle airplanes,” said Tinseth. “Fuel-efficient airplanes like the Next-Generation 737 and 737 MAX help the growing number of low-cost carriers operate more efficiently and provide affordable fares to the emerging middle class,” he added.</div> <div> </div> <div> For long-haul traffic, Boeing forecast twin-aisle planes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for 28 per cent of new airplane deliveries. Boeing’s recently launched 787-10 and 777X will also support the demand for fuel-efficient twin-aisle airplanes in the region. Singapore Airlines has already ordered 30 787-10s helping launch the programme at the 2013 Paris Air Show and Cathay Pacific recently ordered 21 777-9X airplanes, he said.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said.', 'sortorder' => '2438', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2594', 'article_category_id' => '138', 'title' => 'Development Is Being Derailed By Ignoring Equality, Rights And Women’s Health: UN', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations. The report published by United Nations Population Fund (UNFPA) says many of the estimated 1 billion people living in the 50-60 poorest countries will stagnate as the rest of the world gets richer, and the growing inequality threatens economic development. It, however, notes that the number of people living in extreme poverty in developing countries has fallen dramatically from 47 per cent in 1990 to 22 per cent in 2010. Accordingly, it says richer countries have made advances toward equality for women and provided greater access to sexual and reproductive health care over the past two decades but the poorest countries have made little progress. </div> <div> </div> <div> According to the report, fewer women are dying in pregnancy and childbirth and more women have access to education, work and political participation today in rich countries. But it says the poorest communities have seen little progress in improving women's status or reducing maternal deaths and child marriages.</div> <div> </div> <div> "Research suggests a significant positive correlation between female education, healthier families, and stronger Gross Domestic Product growth. The entry of women into Eastern and Southern Asia’s export manufacturing sector, among other factors, has been a key driver of economic growth and contributed to a shift in the concentration of global wealth from West to East," it says. The report notes that gains in girls’ educational attainment is contributing to both Asia’s and Latin America’s success in knowledge-based economy.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations.', 'sortorder' => '2437', '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' => '2505', 'article_category_id' => '138', 'title' => 'Unemployment On The Rise In South Asia: ILO', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. “The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth – growth that also leads to job creation in the formal economy,” it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region. </div> <div> </div> <div> However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region’s labour market. “In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,” the report said. </div> <div> </div> <div> According to ILO estimates Nepal’s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region’s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div> <div> Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.”The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan¬istan to 79.4 per cent in Nepal,” it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div> <div> ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. “The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,” ILO said. Based on the current trends, ILO said “global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-17', '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' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.', 'sortorder' => '2430', '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' => '2552', 'article_category_id' => '138', 'title' => 'How New CEO Nadella Will Affect Microsoft Products, Consumers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.</div> <div> </div> <div> Microsoft has struggled with its consumer-based products, spreading itself too thin and falling behind the tech gadget curve, says Yahoo Finance’s Jeff Macke.</div> <div> </div> <div> “Microsoft has made a lot of noise about becoming a consumer company,” argues Macke in the above video clip. But the company has been “trying to be a little bit of all things to all people for too long...it can’t satisfy both the enterprise (business) and everyday customer.”</div> <div> </div> <div> Microsoft’s business products -- Excel and Office -- are still in high demand with small businesses and Fortune 500 companies. But the company has failed with tablets and smartphones, devices that are deeply popular with consumers. For example, Microsoft sold $893 million worth of its “Surface” tablets in the holiday quarter -- a blip compared to Apple’s $11.5 billion worth of iPads. Consumers purchased about a million Surface tablets last quarter versus Apple’s 26 million.</div> <div> </div> <div> Nadella told employees in a letter Tuesday that the company is “headed for greater places” and it’s their duty to make sure “that Microsoft thrives in a mobile and cloud-first world.” He continues:</div> <div> </div> <div> “The opportunity ahead will require us to reimagine a lot of what we have done in the past for a mobile and cloud-first world, and do new things,” he writes “Our industry does not respect tradition -- it only respects innovation. This is a critical time for the industry and for Microsoft. Make no mistake, we are headed for greater places -- as technology evolves and we evolve with and ahead of it. Our job is to ensure that Microsoft thrives in a mobile and cloud-first world.”</div> <div> </div> <div> Nadella replaces Steve Ballmer, who announced his retirement last August. Ballmer took over as CEO for Microsoft co-founder Bll Gates in 2000. Gates has officially stepped down as chairman of Microsoft’s board; he will now advise Nadella on technology-related issues.</div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.', 'sortorder' => '2399', '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' => '2545', 'article_category_id' => '138', 'title' => 'Worst Is Yet To Come For ‘Fragile Five’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <div> Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.</div> <div> </div> <div> So after years of rapid expansion, and relative calm, what’s going wrong?</div> <div> </div> <div> For one, economic growth has slowed. As a group, emerging and developing economies grew on average by 6.4% over the past decade. Last year, that number was 4.5% and it’s forecast to rise only modestly in 2014. And signs of instability in China’s huge shadow banking system have raised fears of a credit crunch that would make it hard for Beijing to deliver its 7.5% growth target. The first decline in factory activity in six months has only made matters worse.</div> <div> </div> <div> Cheap money is also drying up. The Federal Reserve said Wednesday that it would continue pulling back on its stimulus, to the tune of $10 billion. That means the U.S. central bank will pump $65 billion a month into the U.S. economy, down $20 billion from December. And the flow of cash is likely to cease completely by the end of this year. But that doesn’t entirely explain the dramatic moves seen in some markets. Take India, for example. “The (Fed) decision was expected and should not in any way surprise or affect the Indian markets,” the Indian finance ministry said Thursday. That country’s central bank surprised investors with an interest rate hike this week, in an effort to calm the turmoil.</div> <div> </div> <div> Still, the gradual normalization of monetary policy and rising U.S. interest rates make it less attractive to invest in emerging markets, particularly those which have failed to tackle deep-rooted problems during the years of plenty, or where other risks abound.</div> <div> </div> <div> And that’s where the Fragile Five come in. Over the past year or two, all have experienced slower growth, along with a heavy dependence on foreign capital, and stubbornly high inflation of between 6% and 11%. “Several of the most vulnerable emerging markets in terms of external balances -- Turkey, South Africa and Brazil -- have not yet seen their currencies fall to fair value,” UBS noted this week.</div> <div> </div> <div> HSBC Chief Economist Stephen King said some of the weakest were experiencing a loss of competitiveness similar to that seen in countries of the euro zone periphery before the euro crisis. Political upheaval is another thing they have in common, and may be the single factor that determines whether they can bounce back or not.</div> <div> </div> <div> The Fragile Five all face elections at some point in 2014, making painful reforms even less likely. In Turkey, where the lira fell to a record low this week despite interest rates almost doubling overnight, the prime minister has faced calls to resign over a wide-ranging probe into corruption. Local and presidential elections are due later this year. The African National Congress may well lose ground in parliamentary elections this year but are still likely to form the next South African government. That will reduce the chances of major reform.</div> <div> </div> <div> India’s finance minister was talking up his country’s prospects at last week’s World Economic Forum ahead of national elections, but a weak coalition and continued policy stagnation remains the most likely outcome.</div> <div> </div> <div> Brazil may catch a break from hosting the soccer World Cup in June, and in Indonesia, the popular governor of Jakarta is a clear front-runner for July’s presidential election. But the biggest economies in Latin America and South East Asia are not out of the woods.</div> <div> </div> <div> “There is a risk of the problems spreading to other countries. Brazil and Indonesia, for example, have current account deficits, exposure to China and lofty inflation,” noted BNP Paribas economist Dominic Bryant. (CNN) </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-08', 'modified' => '2014-02-18', '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' => 'Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.', 'sortorder' => '2390', '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' => '2506', 'article_category_id' => '138', 'title' => 'Nepal's Rice Production To Increase: USDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh. </div> <div> </div> <div> USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation's Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal's rice production to increase to 4.6 million tonnes last year. According to the UN agency, timely and sufficient monsoon downpour contributed to the country's rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. </div> <div> </div> <div> Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.', 'sortorder' => '2352', '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' => '2507', 'article_category_id' => '138', 'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. "All three reflect a dim view of the future, one that says the world isn't improving but staying poor and sick, and getting overcrowded," Bill Gates writes in the 16-page letter. "We're going to make the opposite case, that the world is getting better, and that in two decades it will be better still." Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies. </div> <div> </div> <div> And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world's most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it's less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families. </div> <div> </div> <div> In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries — that they're plagued by natural disasters, political instability and corruption — have prevented people from understanding how much progress has been made.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', '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' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.', 'sortorder' => '2350', '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' => '2465', 'article_category_id' => '138', 'title' => 'Nepal Falls In Economic Freedom Ranking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. “Nepal’s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption…its score remains far below world and regional averages” informed the report. According to the report, this year’s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets. </div> <div> </div> <div> <img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. “Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,” the report said. Considered as a “mostly unfree” economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div> <div> </div> <div> “Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,” it said. </div> <div> </div> <div> In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of ‘moderately free’ economy. China, the world’s second largest and Asia’s biggest economy, ranked 139th.</div> <div> </div> <div> Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world’s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div> </div> <p> </p>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', '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 has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.', 'sortorder' => '2349', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2736', 'article_category_id' => '138', 'title' => 'UMN's 60 Years In Nepal Celebrated', 'sub_title' => '', 'summary' => null, 'content' => '<div> United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.</div> <div> </div> <div> Congratulating UMN on these achievements, the Minister for Energy, Radha Kumari Gyawali said, "The nation hopes for UMN's continuous service and contribution in the coming days; the work must go on." Recognising some current difficulties regarding UMN's headquarters property, Gyawali promised to work with all parties to achieve a fair and just resolution. </div> <div> </div> <div> A commemorative stone was unveiled by UMN's Executive Director Dr Mark Galpin and Madan Prasad Rimal, director of the Social Welfare Council. Rimal praised the organisation's work and commitment to the poor in Nepal. "UMN came to work in Nepal in 1954. The Government of Nepal invited them to come and start work here. I can say confidently that all the work that UMN has done in these 60 years has been according to the priority and the need of the Government of Nepal," he said "They have always been transparent in matters of resources and finance." More than 300 UMN staff and former staff, representatives of other INGOs, government, and the christian community observed the programme.</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'United Mission to Nepal (UMN), a missionary INGO has celebrated its sixty-years in Nepal. A programme was held on March 5, Wednesday at the UMN headquarter in Thapathali. The occassion was marked by staff members releasing one hundred balloons, commemorating the contributions of UMN to the country in health, education, industrial development, community development and capacity building.', 'sortorder' => '2603', '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' => '2735', 'article_category_id' => '138', 'title' => 'India Approves Rs 1,765 Crore For Hydropower Project In Bhutan', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar. </div> <div> </div> <div> The approved amount of Rs 1,765 crore would be released in April after the completion of internal procedures within the Government of India, according to a press release from Bhutan's Ministry of Foreign Affairs. Singh also conveyed Indian government's approval of the draft Intergovernmental Agreement between Bhutan and India concerning the development of Joint Venture Hydropower Projects. Under the draft agreement - expected to be signed soon - four projects have been identified: the Kholongchhu project (600 MW), the Wangchhu (570 MW), the Chamkharchhu (770 MW) and Bunakha (180 MW). Work on the Kholongchhu project can start as soon as the Intergovernmental Joint Venture is signed between the two countries, the release said. (The Economic Times)</div>', 'published' => true, 'created' => '2014-03-10', 'modified' => '2014-03-24', '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' => 'India has approved Rs 1,765 crore as the interim cost escalation for Bhutan's Punatshangchu I hydropower project. Prime Minister Manmohan Singh conveyed this to his Bhutanese counterpart Tshering Tobgay when they met on 4th March, Tuesday on the sidelines of the 3rd BIMSTEC Summit in Nay Pyi Taw, Myanmar.', 'sortorder' => '2602', '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' => '2693', 'article_category_id' => '138', 'title' => 'UN Report Sees USD 1.45 Trillion Global Warming Cost', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported. </div> <div> </div> <div> The trilogy is the IPCC's first great overview of the causes and effects of global warming, and options for dealing with it, since 2007. According to the draft, if global temperatures rise by 2.5 degrees Celsius (4.5 Fahrenheit), the world's aggregated gross domestic production will fall by 0.2 to 2 percent, the mass circulation said. That would translate into 15 trillion yen to 148 trillion yen ($147 billion to $1.45 trillion) in economic losses, calculated against the world's total GDP in 2012, it said. </div> <div> </div> <div> The planet's crop production will decline by up to two percent every decade as rainfall patterns shift and droughts batter farmland, even as demand for food rises a projected 14 percent, it said. Other effects from global warming include the loss of land to rising sea levels, forcing hundreds of millions of people to migrate from coastal areas, with the most vulnerable regions including East, South and Southeast Asia, it said. </div> <div> </div> <div> The draft report, which will be reviewed in the March 25-29 meeting in Yokohama, calls for mitigation measures to reduce the vulnerability of environments to climate change such as flood protection projects and research on the prevention of infectious diseases, it said. In the first volume of the trilogy, the IPCC said it was more certain than ever that humans were the cause of global warming and predicted temperatures would rise another 0.3 to 4.8 degrees Celsius (0.5-8.6 degrees Fahrenheit) this century. Heatwaves, floods, droughts and rising seas are among the threats that will intensify through warming, it said in in the report released in September in Stockholm. </div> <div> </div> <div> UN climate chief Christiana Figueres said the report was "an alarm-clock moment for the world". "To steer humanity out of the high danger zone, governments must step up immediate climate action and craft an agreement in 2015" against greenhouse gases, she said at the time. The IPCC has delivered four previous assessments in its 25-year history. Each edition has sounded an ever-louder siren to warn that temperatures are rising and the risk to the climate system is accentuating. </div> <div> </div> <div> The projections for this century are based on computer models of trends in heat-trapping greenhouse gas emissions, especially from coal, oil and gas, which provide the backbone of energy supply today. A Japanese environment ministry official declined to comment on the report, citing IPCC's request to keep it behind closed doors until the final version is approved in Yokohama. (AFP)</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Global warming will reduce the world's crop production by up to two percent every decade and wreak $1.45 trillion of economic damage by the end of this century, according to a draft UN report, Japanese media said Friday. The document is the second volume in a long-awaited trilogy by the Intergovernmental Panel on Climate Change (IPCC), a Nobel-winning group of scientists, which is set to be issued next month after a five-day meeting in Japan, the Yomiuri Shimbun reported.', 'sortorder' => '2541', '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' => '2692', 'article_category_id' => '138', 'title' => 'Corruption Prevails At All Levels Of Nepal Government: US DoS', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states. </div> <div> </div> <div> The report released by US Secretary of State John Kerry on Thursday, 27th February further said that there were numerous reports of corrupt actions by government officials, political parties, and party-affiliated organizations. “The UCPN(M) and CPN-M, in particular, reportedly demanded money from schools, businesses, workers, private citizens, and NGOs,” it said. “There were less frequent reports that student and labor groups associated with other political parties also demanded contributions from schools and businesses.” The US DoS also claimed that corruption and impunity remained general problems within the Nepal Police.</div> <div> </div> <div> Similarly, the report also said that a large number of public officials were refraining from disclosing their annual financial statements. “According to the National Vigilance Center, the body mandated to monitor financial disclosures and make them available to the public, an estimated 35,000 Nepali civil servants had not submitted and disclosed their annual financial statements as required by law in 2012,” the report informed. </div> <div> </div> <div> The report, however, mentioned some signs of progress in tackling corruption after the appointment of new leadership at the Commission for the Investigation of the Abuse of Authority (CIAA) last year. “Under new leadership, the CIAA took high-profile actions against the Nepal Energy Authority, the Department of Immigration, and the Department of Foreign Employment,” the report said. The interim government led by former Chairman of the Council of Ministers Khil Raj Regmi named chief commissioner and one associate commissioner at CIAA in 2013.Before that the apex constitutional body for corruption control was leadership less for about five-year period.</div> <div> </div> <div> According to the report, in August and September, the CIAA arrested 18 officials from the Department of Immigration, 15 from the Department of Foreign Employment, and nine from the Tribhuvan International Airport labour desk for sending 77 Nepali migrants to Qatar with fraudulent or improper documentation – a human trafficking-related offense. The most senior official arrested was the director general of the Department of Foreign Employment.</div>', 'published' => true, 'created' => '2014-03-03', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Widespread corruption and lack of transparency exists at all levels of government bodies in Nepal, according to a report published by the US Department of State (DoS) claimed. The “Reports on Human Rights Practices for 2013” said that corruption is widely present at all levels of Nepal government and police, and the judiciary remain vulnerable to political pressure, bribery, and intimidation. “Although the law provides criminal penalties for corruption by officials, there continued to be reports that officials engaged in corrupt practices with impunity,” the report states.', 'sortorder' => '2540', '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' => '2662', 'article_category_id' => '138', 'title' => 'Bhutan, Nissan Partner On Electric Cars', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil. </div> <div> </div> <div> Under the agreement announced today, Nissan will supply its Leaf electric car and set up charging stations in Bhutan. Bhutan, with a population of 720,000, produces and exports hydro-electricity. But it’s eager to reduce its dependence on fossil fuels shipped in from abroad. </div> <div> </div> <div> The tiny landlocked country was long known for measuring “gross national happiness” instead of traditional indicators of prosperity such as GDP. But since 2013, a new government under Prime Minister Tshering Tobgay has downplayed it as a distraction from problems of poverty and corruption. </div> <div> </div> <div> The Leaf is the world’s best-selling electric car, selling a cumulative 100,000 so far since going on sale in late 2010, comprising 45 percent of the global electric vehicle market. </div> <div> </div> <div> The car has struggled to reach a critical mass in sales, especially when compared to hybrid models, for instance, but the Leaf remains the symbol of Nissan’s commitment to the environment and shows off its engineering prowess. </div> <div> </div> <div> Nissan has agreements with more than 100 nations, states and cities globally to promote electric cars, including the Spanish city of Barcelona and Sao Paulo in Brazil. </div> <div> </div> <div> Most deals in electric cars tend to be with developed nations, making Bhutan a relatively unusual case. Nissan wants to study how its electric vehicle business fits with a developing nation that has substantial clean energy resources. </div> <div> </div> <div> Nissan declined to disclose the number of electric cars involved or the monetary value for the Bhutan deal. </div> <div> </div> <div> Feasibility studies are planned for how they can cooperate more on the green technology, both sides said. </div> <div> </div> <div> “Nissan’s global experience will be invaluable as we make progress towards an electrified national transport infrastructure,” Tobgay said. </div> <div> </div> <div> Sandwiched between Asian giants China and India, Bhutan was long closed to the rest of the world before starting to open up in the 1960s. Foreigners and the international media were first admitted in 1974, and television arrived only in 1999. </div> <div> </div> <div> Tobgay, who has a master’s in public administration from Harvard University, has pushed for more power to regular people. </div> <div> </div> <div> Ghosn is today presenting two Leaf vehicles to Bhutan, which is also the birthday of Bhutan’s king. Ghosn said Nissan is supporting Bhutan’s vision for meeting its transport needs in the future. (AP)</div>', 'published' => true, 'created' => '2014-02-24', 'modified' => '2014-02-24', '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 Himalayan kingdom of Bhutan has tapped Nissan Motor Co to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil.', 'sortorder' => '2509', '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' => '2653', 'article_category_id' => '138', 'title' => 'Federal Reserve Underestimated The Crisis', 'sub_title' => '', 'summary' => null, 'content' => '<p> If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.<br /> <br /> It wasn't until after Lehman Brothers collapsed in mid-September that Bernanke said he was absolutely sure the US had entered a recession. On Friday morning, the Federal Reserve released more than 1,500 pages featuring wordfor- word transcripts from its 14 policymaking meetings and conference calls in 2008. This was a critical year in which the Fed decided to slash its interest rates to near zero and launch an unprecedented bond-buying program, all in an attempt to stimulate the US economy.<br /> <br /> But leading up to those decisions, Federal Reserve officials seemed uncertain about their economic outlook and their actions. The transcripts show they focused heavily on fears about inflation and instability in financial markets, while mentions of unemployment are few and far between. To be fair, the data then did not yet point to the full-blown jobs crisis that has since followed.<br /> <br /> Meeting just a day after Lehman Brothers filed for bankruptcy in September 2008, they couldn't agree on whether their decision to allow the investment bank to fail was the right move. "I think it's too soon to know whether what we did with Lehman is right," said Boston Fed President Eric Rosengren. "I think we did the right thing given the constraints that we had. I hope we get through this week." Stocks had just had their worst day in seven years, with the Dow falling more than 500 points in one trading session, and AIG was on the brink of a collapse. Yet despite their concerns about market stability, Fed officials decided to hold off on lowering their key interest rate at that September meeting.<br /> <br /> The magnitude of the crisis was finally sinking in with officials. The Fed decided to slash its key interest rate twice that month, and then in December, it cut the rate to near zero -- where it still sits five years later.<br /> <br /> "As you know, we are at a historic juncture -- both for the U.S. economy and for the Federal Reserve," Bernanke said at the final meeting that year. "The financial and economic crisis is severe despite extraordinary efforts not only by the Federal Reserve but also by other policymakers here and around the world."<br /> <br /> Even then, the Fed was still overly optimistic. The central bank predicted unemployment would peak at 8.25% in 2010. Instead, it peaked at 10%.<br /> <strong>(www.money.cnn.com)</strong></p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', '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' => 'If it wasn't already obvious, it certainly is now: The Federal Reserve didn't see the Great Recession coming until it was in the thick of the crisis. "I think there are a lot of indications that we may soon be in a recession," former Federal Reserve Chairman Ben Bernanke told his colleagues in January 2008, not knowing then that the deepest recession since the Great Depression was already well underway.', 'sortorder' => '2502', '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' => '2596', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (17 - 27 February 2014)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Europe Sees First Annual Growth Since 2011</strong></span></div> <div> Led by a return to growth in France and Italy and stronger performance in key economies such as Germany, the Netherlands and Spain, Europe’s economy grew on an annual basis for the first time in two years, as a recovery picked up pace slightly in the last three months of 2013. Eurozone GDP rose by 0.3% in the fourth quarter, compared with the third quarter, and by 0.5% over the same period of 2012, according to figures released Friday by Eurostat. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Gold Races Above $1,300</strong></span></div> <div> Gold hit three-month highs on Friday and looked set to post its biggest weekly gain in six months as more weak US data raised fears about economic growth, hurting the dollar. Spot gold rose to its highest since Nov. 8 at $1,312.40 earlier in the session, and was up 0.8 per cent to $1,311.90 an ounce. It is up around four percent for the week - the largest such gain since mid-August.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Comcast Buys Time Warner Cable for $45 bn</strong></span></div> <div> Comcast, the world’s largest mass media and communication company said Thursday it had agreed to buy Time Warner Cable for $45 billion in a deal that would combine the two biggest cable companies in the United States. If the deal is approved, the combined group will be the country’s dominant provider of television channels and Internet connections, reaching roughly one in three American homes.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Lenovo Sales Hit Record High </strong></span></div> <div> Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market. The Chinese company said net income grew by 30% to $265.3 million in the final three months of the year. The results put Lenovo on solid footing as it branches out from its core PC business and enters the smartphone business in a big way.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Mark Zuckerberg Biggest US 2013 Philanthropist</strong></span></div> <div> Mark Zuckerberg and his wife,Priscilla Chan, were the most generous American philanthropists in 2013, with a donation of 18 million shares of Facebook stock valued at more than $970 million to a Silicon Valley nonprofit. The Chronicle of Philanthropy reported Monday that Zuckerberg’s donation was the largest charitable gift on the public record in 2013 and put the young couple at the top of the magazine’s list of 50 most generous Americans in 2013. </div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Lenovo posted record sales of $10.8 billion on Thursday and emphasized plans to expand aggressively in China -- the world’s biggest smartphone market.', 'sortorder' => '2439', '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' => '2595', 'article_category_id' => '138', 'title' => 'South Asian Airlines Projected To Add 18,000 New Aircraft By 2032', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said. “Asia Pacific economies and passenger traffic continue to exhibit strong growth,” Tinseth told reporters ahead of the opening of the Singapore Airshow from tomorrow.</div> <div> </div> <div> Comparatively, airlines in China were expected to add 5,500 new planes and those in Southeast Asia 3,000. Overall, Boeing has forecast USD 1.9 trillion investment on 12,820 new aircraft over the 20-year period in Asia Pacific, representing 36 per cent of the world’s new airplane deliveries. “Over the next 20 years, nearly half of the world’s air traffic growth will be driven by travel to, from or within the region. The Asia Pacific fleet will nearly triple – from 5,090 airplanes in 2012 to 14,750 in 2032 – to support the increased demand," he said. </div> <div> </div> <div> Boeing’s data projects that passenger airlines in the region would rely primarily on single-aisle airplanes such as the Next-Generation 737 and the 737 MAX, a new-engine variant of the market-leading 737, to connect passengers. Single-aisle airplanes would represent 69 per cent of the new airplanes in the region. “New low-cost carriers and demand for intra-Asia travel have fuelled the substantial increase in single-aisle airplanes,” said Tinseth. “Fuel-efficient airplanes like the Next-Generation 737 and 737 MAX help the growing number of low-cost carriers operate more efficiently and provide affordable fares to the emerging middle class,” he added.</div> <div> </div> <div> For long-haul traffic, Boeing forecast twin-aisle planes such as the 747-8 Intercontinental, 777 and the 787 Dreamliner will account for 28 per cent of new airplane deliveries. Boeing’s recently launched 787-10 and 777X will also support the demand for fuel-efficient twin-aisle airplanes in the region. Singapore Airlines has already ordered 30 787-10s helping launch the programme at the 2013 Paris Air Show and Cathay Pacific recently ordered 21 777-9X airplanes, he said.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'Airlines in South Asia would invest an estimated USD 240 billion to purchase nearly 18,000 aircraft over the next 20 years, a senior Boeing official said on Monday. The South Asian airlines would invest an estimated $240 billion between 2013 and 2032, increasing their fleet to over 2,060 from the current 450, Vice President for market at Boeing Commercial Airplanes Randy Tinseth said.', 'sortorder' => '2438', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2594', 'article_category_id' => '138', 'title' => 'Development Is Being Derailed By Ignoring Equality, Rights And Women’s Health: UN', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations. The report published by United Nations Population Fund (UNFPA) says many of the estimated 1 billion people living in the 50-60 poorest countries will stagnate as the rest of the world gets richer, and the growing inequality threatens economic development. It, however, notes that the number of people living in extreme poverty in developing countries has fallen dramatically from 47 per cent in 1990 to 22 per cent in 2010. Accordingly, it says richer countries have made advances toward equality for women and provided greater access to sexual and reproductive health care over the past two decades but the poorest countries have made little progress. </div> <div> </div> <div> According to the report, fewer women are dying in pregnancy and childbirth and more women have access to education, work and political participation today in rich countries. But it says the poorest communities have seen little progress in improving women's status or reducing maternal deaths and child marriages.</div> <div> </div> <div> "Research suggests a significant positive correlation between female education, healthier families, and stronger Gross Domestic Product growth. The entry of women into Eastern and Southern Asia’s export manufacturing sector, among other factors, has been a key driver of economic growth and contributed to a shift in the concentration of global wealth from West to East," it says. The report notes that gains in girls’ educational attainment is contributing to both Asia’s and Latin America’s success in knowledge-based economy.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-18', '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' => 'A new United Nations report finds that growing inequalities will undo significant gains in health and longevity made over the past 20 years. To sustain these gains, the 'United Nations ICPD Beyond 2014 Global Report' argues that governments must pass and enforce laws to protect the poorest and most marginalized, including adolescent girls and women affected by violence as well as rural populations.', 'sortorder' => '2437', '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' => '2505', 'article_category_id' => '138', 'title' => 'Unemployment On The Rise In South Asia: ILO', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. “The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth – growth that also leads to job creation in the formal economy,” it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region. </div> <div> </div> <div> However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region’s labour market. “In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,” the report said. </div> <div> </div> <div> According to ILO estimates Nepal’s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region’s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div> <div> Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.”The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan¬istan to 79.4 per cent in Nepal,” it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div> <div> ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. “The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,” ILO said. Based on the current trends, ILO said “global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018. </div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-17', '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' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.', 'sortorder' => '2430', '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' => '2552', 'article_category_id' => '138', 'title' => 'How New CEO Nadella Will Affect Microsoft Products, Consumers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.</div> <div> </div> <div> Microsoft has struggled with its consumer-based products, spreading itself too thin and falling behind the tech gadget curve, says Yahoo Finance’s Jeff Macke.</div> <div> </div> <div> “Microsoft has made a lot of noise about becoming a consumer company,” argues Macke in the above video clip. But the company has been “trying to be a little bit of all things to all people for too long...it can’t satisfy both the enterprise (business) and everyday customer.”</div> <div> </div> <div> Microsoft’s business products -- Excel and Office -- are still in high demand with small businesses and Fortune 500 companies. But the company has failed with tablets and smartphones, devices that are deeply popular with consumers. For example, Microsoft sold $893 million worth of its “Surface” tablets in the holiday quarter -- a blip compared to Apple’s $11.5 billion worth of iPads. Consumers purchased about a million Surface tablets last quarter versus Apple’s 26 million.</div> <div> </div> <div> Nadella told employees in a letter Tuesday that the company is “headed for greater places” and it’s their duty to make sure “that Microsoft thrives in a mobile and cloud-first world.” He continues:</div> <div> </div> <div> “The opportunity ahead will require us to reimagine a lot of what we have done in the past for a mobile and cloud-first world, and do new things,” he writes “Our industry does not respect tradition -- it only respects innovation. This is a critical time for the industry and for Microsoft. Make no mistake, we are headed for greater places -- as technology evolves and we evolve with and ahead of it. Our job is to ensure that Microsoft thrives in a mobile and cloud-first world.”</div> <div> </div> <div> Nadella replaces Steve Ballmer, who announced his retirement last August. Ballmer took over as CEO for Microsoft co-founder Bll Gates in 2000. Gates has officially stepped down as chairman of Microsoft’s board; he will now advise Nadella on technology-related issues.</div>', 'published' => true, 'created' => '2014-02-09', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Microsoft’s decision to name Satya Nadella as its third CEO in 39 years has some tech insiders wondering if the company is quietly moving away from its consumer business and refocusing its attention on corporate clients. Nadella, a 22-year veteran of Microsoft, has been in charge of the tech behemoth’s server and cloud computing division, a staid but profitable segment of the company.', 'sortorder' => '2399', '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' => '2545', 'article_category_id' => '138', 'title' => 'Worst Is Yet To Come For ‘Fragile Five’', 'sub_title' => '', 'summary' => null, 'content' => '<div> <div> Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.</div> <div> </div> <div> So after years of rapid expansion, and relative calm, what’s going wrong?</div> <div> </div> <div> For one, economic growth has slowed. As a group, emerging and developing economies grew on average by 6.4% over the past decade. Last year, that number was 4.5% and it’s forecast to rise only modestly in 2014. And signs of instability in China’s huge shadow banking system have raised fears of a credit crunch that would make it hard for Beijing to deliver its 7.5% growth target. The first decline in factory activity in six months has only made matters worse.</div> <div> </div> <div> Cheap money is also drying up. The Federal Reserve said Wednesday that it would continue pulling back on its stimulus, to the tune of $10 billion. That means the U.S. central bank will pump $65 billion a month into the U.S. economy, down $20 billion from December. And the flow of cash is likely to cease completely by the end of this year. But that doesn’t entirely explain the dramatic moves seen in some markets. Take India, for example. “The (Fed) decision was expected and should not in any way surprise or affect the Indian markets,” the Indian finance ministry said Thursday. That country’s central bank surprised investors with an interest rate hike this week, in an effort to calm the turmoil.</div> <div> </div> <div> Still, the gradual normalization of monetary policy and rising U.S. interest rates make it less attractive to invest in emerging markets, particularly those which have failed to tackle deep-rooted problems during the years of plenty, or where other risks abound.</div> <div> </div> <div> And that’s where the Fragile Five come in. Over the past year or two, all have experienced slower growth, along with a heavy dependence on foreign capital, and stubbornly high inflation of between 6% and 11%. “Several of the most vulnerable emerging markets in terms of external balances -- Turkey, South Africa and Brazil -- have not yet seen their currencies fall to fair value,” UBS noted this week.</div> <div> </div> <div> HSBC Chief Economist Stephen King said some of the weakest were experiencing a loss of competitiveness similar to that seen in countries of the euro zone periphery before the euro crisis. Political upheaval is another thing they have in common, and may be the single factor that determines whether they can bounce back or not.</div> <div> </div> <div> The Fragile Five all face elections at some point in 2014, making painful reforms even less likely. In Turkey, where the lira fell to a record low this week despite interest rates almost doubling overnight, the prime minister has faced calls to resign over a wide-ranging probe into corruption. Local and presidential elections are due later this year. The African National Congress may well lose ground in parliamentary elections this year but are still likely to form the next South African government. That will reduce the chances of major reform.</div> <div> </div> <div> India’s finance minister was talking up his country’s prospects at last week’s World Economic Forum ahead of national elections, but a weak coalition and continued policy stagnation remains the most likely outcome.</div> <div> </div> <div> Brazil may catch a break from hosting the soccer World Cup in June, and in Indonesia, the popular governor of Jakarta is a clear front-runner for July’s presidential election. But the biggest economies in Latin America and South East Asia are not out of the woods.</div> <div> </div> <div> “There is a risk of the problems spreading to other countries. Brazil and Indonesia, for example, have current account deficits, exposure to China and lofty inflation,” noted BNP Paribas economist Dominic Bryant. (CNN) </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-08', 'modified' => '2014-02-18', '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' => 'Last year was painful for emerging markets and 2014 is shaping up to be even worse. Among the hardest hit are Brazil, India, Indonesia, Turkey, and South Africa -- dubbed the ‘Fragile Five’ by Morgan Stanley last August. Those countries have seen their currencies tumble 15% to 20% over the past year. And that plunge has continued this month, despite a series of aggressive and, in some cases, unexpected interest rate rises aimed at stopping the rot.', 'sortorder' => '2390', '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' => '2506', 'article_category_id' => '138', 'title' => 'Nepal's Rice Production To Increase: USDA', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh. </div> <div> </div> <div> USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation's Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal's rice production to increase to 4.6 million tonnes last year. According to the UN agency, timely and sufficient monsoon downpour contributed to the country's rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. </div> <div> </div> <div> Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-02-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.', 'sortorder' => '2352', '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' => '2507', 'article_category_id' => '138', 'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. "All three reflect a dim view of the future, one that says the world isn't improving but staying poor and sick, and getting overcrowded," Bill Gates writes in the 16-page letter. "We're going to make the opposite case, that the world is getting better, and that in two decades it will be better still." Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies. </div> <div> </div> <div> And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world's most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it's less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families. </div> <div> </div> <div> In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries — that they're plagued by natural disasters, political instability and corruption — have prevented people from understanding how much progress has been made.</div>', 'published' => true, 'created' => '2014-01-27', 'modified' => '2014-01-27', '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' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.', 'sortorder' => '2350', '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' => '2465', 'article_category_id' => '138', 'title' => 'Nepal Falls In Economic Freedom Ranking', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. “Nepal’s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption…its score remains far below world and regional averages” informed the report. According to the report, this year’s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets. </div> <div> </div> <div> <img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. “Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,” the report said. Considered as a “mostly unfree” economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div> <div> </div> <div> “Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,” it said. </div> <div> </div> <div> In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of ‘moderately free’ economy. China, the world’s second largest and Asia’s biggest economy, ranked 139th.</div> <div> </div> <div> Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world’s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div> </div> <p> </p>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-27', '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 has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group. Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.', 'sortorder' => '2349', '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
