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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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2363', 'article_category_id' => '138', 'title' => 'China Eases One-Child Policy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November. The reforms, which came at the end of a six-day meeting of the congress, have already been tested in parts of the country. They needed formal legislative approval to be put into effect.</div> <div> </div> <div> It is expected that reforms will be rolled out gradually and incrementally around the country, with provincial authorities entrusted to make their own decisions on implementation according to the local demographic situation. Factors other than the one-child policy, such as a lack of social security support, have also encouraged couples to limit their offspring.</div> <div> </div> <div> China is now believed to have a birth rate of just over 1.5 children per woman of child-bearing age - which is, in fact, higher than many of its regional neighbours, including Taiwan, Japan and South Korea. China introduced its one-child policy at the end of the 1970s to curb rapid population growth.</div> <div> </div> <div> Similarly, the Standing Committee also decided to China's notorious labour camps. The decision to close the labour camps puts an end to a controversial punishment system long criticised for its human rights abuses.</div> <div> </div> <div> The network, which was created in the 1950s based on the Soviet Gulag, allowed the Chinese police to send anyone to prison for up to four years without a trial. A labour camp sentence was almost impossible to appeal. China had 260 labour camps holding 160,000 inmates at the start of this year, according to figures from the Ministry of Justice and Human Rights Watch.</div> <div> </div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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' => 'China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November.', 'sortorder' => '2208', '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' => '2362', 'article_category_id' => '138', 'title' => 'ADB Ups Support For Projects Promoting Sustainable Development', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts. The projects promoted growth while at the same time enhancing access to basic services such as water supply, education, and health, and helping beneficiaries mitigate and adapt to climate change impacts, among others. "During the same period, ADB approved 112 projects with an environmental sustainability focus totaling more than $13 billion ― a 50% increase over the previous two years. It invested $4.4 billion in clean energy-related initiatives to provide an additional 2,125 megawatts of renewable energy generation capacity across the region over 2011 and 2012," informed the report. </div> <div> </div> <div> In response to the growing climate change threat, in 2012 alone, ADB approved climate-related finance of $3.4 billion while transport investments, including low-carbon projects, in 2012 totaled nearly $4 billion. According to the report, at the corporate level, ADB promoted sustainability by further reducing the per person use of water, electricity, and paper, and the waste generated at its headquarters, where 77% of its staff work. </div> <div> </div> <div> ADB is consistently run with the lowest overhead among multinational development banks, according to Standard and Poor’s. In 2012, ADB became the first multilateral development bank to attain ISO 50001 certification for energy management, with measures taken to “green” its headquarters building, including installing solar panels and collecting rainwater. To improve access to information, an updated Public Communications Policy was launched in 2012.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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 Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts', 'sortorder' => '2206', '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' => '2320', 'article_category_id' => '138', 'title' => 'Gold In Largest Annual Loss In 32 Years', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.</div> <div> </div> <div> Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year's losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div> <div> </div> <div> Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div> <div> </div> <div> While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div> <div> </div> <div> The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div> <div> </div> <div> Inflation has been subdued all year and remains well below the Fed's target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div> <div> </div> <div> Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div> <div> </div> <div> <hr /> </div> <div> <span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div> <div> Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed’s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure. </div> <div> </div> <div> Traders also agree with this. “Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,” opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. “Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,” Shakya says. </div> <div> </div> <div> Subdued demand of gold in domestic market is also seen as another factor affecting the bullion’s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. “Continuation of cash flow doesn’t always fulfill the expectations of stock market,” he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. “Apart from equity market’s performance, other sectors in Nepal aren’t performing well,” Shakya said adding, “Investors are likely to return to gold after the stock market makes its adjustment in near term.”</div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2013-12-30', '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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.', 'sortorder' => '2177', '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' => '2273', 'article_category_id' => '138', 'title' => 'Uruguay Becomes First Country To Legalize Marijuana Trade', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law. Outside the Senate, hundreds of cannabis-smoking supporters set off fireworks in what they dubbed “the last march with illegal marijuana.” The atmosphere was festive. The bill passed the lower house of Congress in August and was assured of approval because the ruling coalition controls both chambers. It authorizes the production, distribution and sale of cannabis, allows individuals to grow their own on a small scale, and creates consumer clubs -- all under state supervision and control.</div> <div> </div> <div> Uruguay’s pioneering move to legalize the planting and sale of marijuana opens the door for a clandestine cottage industry of pot growers to transform into a legitimate business that could even export medical cannabis, a commodity in short supply. More and more countries are setting up medical marijuana programs to help relieve the pain of terminally-ill patients and treat other health conditions, but there are few legal sources of the drug in the world and Uruguay could tap that tight market. The Uruguayan experiment could add momentum to the marijuana legalization debate in the United States, where the states of Washington and Oregon last year made it legal to grow and smoke pot.</div> <div> </div> <div> If regulation works, Uruguay could become an exporter of medical marijuana to countries such as Canada that are allowing an expansion of the use of the drug for health reasons. Canada became the first country to allow terminally ill patients to grow and smoke their own marijuana in 2001.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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' => 'Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law.', 'sortorder' => '2117', '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' => '2272', 'article_category_id' => '138', 'title' => 'South Asia On Track To Meet Growth Expectations In 2013-14 : ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs. India is anticipated to grow at 4.7 per cent in fiscal year 2013 (ending 31 March 2014) and 5.7 per cent in the fiscal year 2014, unchanged from the October forecast," says the bank. </div> <div> </div> <div> Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div> <div> </div> <div> However, ADB estimates slight moderation is forecast in Southeast Asia. The report forecasts the sub-region to post growth of 4.8% in 2013 and 5.2% in 2014; both forecasts are revised down 0.1 percentage points from October. "The moderation stems from the impact of tensions in Thailand on consumption and tourism. The devastating impact of Typhoon Haiyan is tempering the Philippines’ 2013 growth, but reconstruction is expected to boost growth as it ramps up in 2014," it said.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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 is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs.', 'sortorder' => '2116', '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' => '2232', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (9 -15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Japan Approves $182 bn Economic Package </strong></span></div> <div> Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact. The package has a headline value of 18.6 trillion yen ($182 billion), which is an exaggerated figure as the bulk of the package includes loans from government-backed lenders and spending by local governments that was already scheduled.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Australia and South Korea Agree FTA</strong></span></div> <div> Australia and South Korea have agreed on a free trade deal in an attempt to boost trade between the two countries. As part of the deal, tariffs on key Australian exports to South Korea such as agricultural products, energy and resources will be eliminated. It is also likely to help South Korean firms in sectors such as steel, textile and car manufacturing to boost their presence in Australia. Trade between the two nations was worth $29bn in 2012.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Newsweek to Revive Print Edition </strong></span></div> <div> US current affairs magazine Newsweek, which had ceased publication last year to focus on its Web site, plans to bring back the print edition early next year. The magazine expects to begin a 64-page weekly edition in January or February, Newsweek’s editor-in-chief Jim Impoco said in an interview to the New York Times.</div> <div> </div> <div> <span style="font-size:14px;"><strong>EU Fines Banks Record €1.71 bn over Libor</strong></span></div> <div> The European Union has levied a record antitrust fine of €1.71 billion ($2.3 billion) on six European and U.S. banks and brokers for rigging benchmark interest rates. Deutsche Bank was hit with the single biggest penalty of €725.4 million for participating in illegal cartels to manipulate the Euro Interbank Offered Rate, or Euribor, and London interbank offered rate, or Libor. Other firms fined were Societe Generale, Royal Bank of Scotland, JP Morgan and Citigroup , and U.K.-based broker RP Martin.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact.', 'sortorder' => '2074', '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' => '2231', 'article_category_id' => '138', 'title' => 'US Aids In Restoring Patan Royal Palace', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace. The preservation of this historic site was made possible through a $1.1 million grant provided by the U.S. Ambassadors Fund for Cultural Preservation (AFCP). US Ambassador Peter W. Bodde and Embassy officials congratulated the local community and AFCP partner, Kathmandu Valley Preservation Trust (KVPT), for the project’s great success. “The Ambassadors Fund is among the US government’s most significant cultural initiatives abroad. It makes me very proud as an American to know that my country supports and protects conservation efforts like this one around the world,” Ambassador Bodde said. </div> <div> </div> <div> In 2009, the project completed successfully for an Ambassadors Fund award under a special “large grant” competition. Nepal was one of only three countries, the others being Peru and Macedonia, to be selected and awarded a large grant.</div> <div> </div> <div> The AFCP has supported fifteen projects in Nepal since 2003. "The restoration of Patan Royal Palace has been a model project for cultural preservation in Nepal and across the globe," says the statement. In 2006, the Patan complex was added to the World Monuments Watch List of 100 Most Endangered Sites. Already by 2013, this well-preserved site displays centuries of intact history, and is among Nepal’s most significant cultural destinations.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace.', 'sortorder' => '2073', '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' => '2230', 'article_category_id' => '138', 'title' => 'US Assists To Improve Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes."On 15 November 2013, the Office of Defense Cooperation, US Embassy Kathmandu and CAAN officially signed a Memorandum of Understanding to carry out the project," informed the statement. </div> <div> </div> <div> The statement said that the US Army Corps of Engineers, working with local contractors, will provide design and construction services. "This project is a part of a greater plan for TIA infrastructure improvement through the Seismic Resistance Program," read the statement. The work is scheduled to start in January 2014.</div> <div> </div> <div> The project aims at keeping the runway open even after an earthquake. Specific areas for the program include runway integrity, navigation aids, crash-fire-rescue, and air-ground operations. Those measures come in line with efforts taken by CAAN and TIA over the past two years for disaster preparedness.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes.', 'sortorder' => '2072', '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' => '2149', 'article_category_id' => '138', 'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland. </div> <div> </div> <div> Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, “We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.” Malia Talakai, the AOSIS spokesperson for loss and damage, adds, “SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.”</div> <div> </div> <div> “Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,” argues Elia del Carmen Guerra of Panama.</div> <div> </div> <div> Patience Damptey, negotiator for the African Group, adds, “Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.”</div> <div> </div> <div> Adao Barbosa, outlining the position of the LDC group, said, “If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.”</div> <div> </div> <div> Juan Hoffmaister concludes for G77, “It’s unacceptable that some continue to sideline this issue, or fob it off as a ‘research agenda’ item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world’s most vulnerable people.”</div> <div> </div> <div> “Loss and damage from climate change is a reality today across the world,” says Naderev “Yeb” Sano, Climate Change Commissioner of the Philippines, “My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created”.</div> <div> </div> <div> He adds: “Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40–50% on 1990 levels, we would still have locked–in climate change and would still need to address the issue of loss and damage.”</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.', 'sortorder' => '1996', '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' => '2148', 'article_category_id' => '138', 'title' => 'World Applauds CA Elections', 'sub_title' => '', 'summary' => null, 'content' => '<div> The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div> <div> </div> <div> According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. “These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,” reads the statement. </div> <div> </div> <div> Similarly, neighbouring India also hailed the elections as free and fair. In a press statement, Indian Ministry of External Affairs said, “The successful conduct of free and fair elections in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal’s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.” Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.', 'sortorder' => '1995', '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' => '2147', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Inaugurates US Embassy Book Bus', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div> <div> </div> <div> According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. "Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology," informed the release. The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals. </div> <div> </div> <div> The Book Bus is an expansion of the US Embassy’s seven American Corner libraries located throughout Nepal. "These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike," said the embassy. The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div> <div> </div> <div> With the help of a partner organization, Quixote’s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. Through the Book Bus, books will also be donated to young readers in English and Nepali.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.', 'sortorder' => '1994', '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' => '2097', 'article_category_id' => '138', 'title' => 'US Embassy Supports Kartik Nach', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests. "This unique form of storytelling through dance, started in the 17th century, has not been performed in its entirety since 1949. With the support of the US Embassy, in partnership with the Alliance for Ecotourism, the full Kartik Nach will be restored and documented," says the statement. </div> <div> </div> <div> The US Embassy’s support of Kartik Nach was made possible by a grant of $75,300 from the Ambassadors Fund for Cultural Preservation (AFCP). This is the Embassy’s first non-tangible cultural heritage project funded by AFCP in Nepal. The embassy hoped that the assistance and grant will revive the centuries-old tradition. The grant will assist the Kartik Nach Preservation Committee to restore the full form of the dance and to document and teach this cultural tradition to a new generation. </div> <div> </div> <div> The Kartik Nach festival is an eight-day long dance festival believed to have been introduced by King Siddhi Narsingh Malla in 1637 AD. It is a combination of traditional music and drama based on the story of Lord Narsimha, incarnation of Hindu god Vishnu. The dance will be performed each evening in the month of Kartik in Patan Durbar Square. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-12', '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 US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests.', 'sortorder' => '1967', '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' => '2096', 'article_category_id' => '138', 'title' => 'Starting A Business In Nepal Becoming Faster And Easier: IFC', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> O<span style="font-size: 12px;">ver the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly. “This was achieved by reducing administrative processing times at the company registrar and establishing data links between agencies involved in the incorporation process,” states the report. </span></div> <div> </div> <div> The report entitled ‘Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises’ ranks Nepal 105th out of 189 global economies. Nepal ranked 108th last year. In terms of helping create a better environment for local entrepreneurs, Nepal ranks third in the eight South Asian economies surveyed, surpassed only by Sri Lanka and Maldives. The country’s rank in Starting a Business topic is 97, compared to 103 in 2013. “A congenial business environment is important for Nepal’s economic growth”, said Val S. Bagatsing, IFC Resident Representative in Nepal. “We are encouraged by the rapid pace of reform in Nepal which will attract more investment and create jobs in the country.” The report benchmarks performance of economies in ten indicators: starting a business, availability of electricity, availability of credit, dealing with construction permits, property registration, protection of investors, tax provisions, trans-border trading, contract enforcements and resolving insolvency. </div> <div> </div> <div> The IFC report finds that South Asia leads the world in implementing business regulatory reforms in 2012/13. Six of eight economies in the region completed 11 reforms simplifying the process of starting a business, strengthening access to credit, or easing the process for paying taxes. Sri Lanka was the best performing economy in the South Asia region securing 85th position whereas India ranked 134th in the index followed by Bhutan (141) and Afghanistan (164). Similarly, Maldives, Pakistan and Bangladesh secured 95th, 110th and 130th positions respectively. </div> <div> </div> <div> Singapore tops the global ranking on the ease of doing business. Similarly, Hong Kong, China, New Zealand, United States, Denmark, Malaysia, Republic of Korea, Georgia, Norway, and the United Kingdom secured the top 10 spot of economies with the most business-friendly regulations. Meanwhile, Libya (187), Central African Republic (188) and Chad (189) were lowest ranking economies in the index. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-12-02', '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' => 'Over the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly.', 'sortorder' => '1944', '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' => '2023', 'article_category_id' => '138', 'title' => 'Nepal To Achieve Mid-Range Economic Growth: WB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned. Similarly, the bank projected that public spending will pick up sharply in FY 2014, boosting the overall economy. </div> <div> </div> <div> The bank noted political instability as the major obstacle to achieve higher growth trajectory. "Political instability clouded the outlook in FY 2013 and remains the principal source of vulnerability going forward," states the report. "It is time for Nepal to shift its focus from politics to economics," said Johannes Zutt, World Bank Country Director for Nepal and Bangladesh in an interaction programme with journalists during the launch of the report on Thursday, “While the political process continues, it is important to focus on economic and development prospects." He mentioned that Nepal's current economic growth is not high enough to reduce poverty. "Nepal should achieve GDP growth of 7 - 9 per cent for sustainable economic growth," Zutt stressed. </div> <div> </div> <div> Despite the mid-range growth rate, the bank pointed out bottlenecks in access to modern energy, transportation and financial sector as hindrances to achieve higher growth trajectory. Regarding the recent foreign exchange rate volatility, the bank expressed that the depreciation of rupee should be taken as a cause for concern not as panic. "Fears of serious negative economic consequences are mostly exaggerated, although some specific groups and sectors of the economy might lose out," states the report. The bank suggested that Nepal should maintain the existing currency rate peg between Nepali rupee (NPR) and Indian rupee (INR). "Given the significant integration of the Nepali and Indian economies, the peg makes a lot of sense, any adjustment to the peg would sharply disturb the flow of goods and capital between the two countries by adding significant uncertainty to trans-border transaction," the report adds. </div> <div> </div> <div> Presenting the report, Aureilien Kruse, the Senior Country Economist at the World Bank's Nepal office termed rupee depreciation as an 'alignment' as it had appreciated above target levels. Kruse said that while the currency depreciation has pushed up Nepal's import bills and led to a rise in inflation rate, there are other benefitting factors too. "A depreciated rupee can be translated into stronger incomes from remittances and exports," he said. Though the bank didn't present any exact figure, Kruse projected the inflation in Nepal to remain at 'high single-digit' in coming FY as increasing fiscal expenditures and the upcoming elections will further push up the consumer price levels. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned.', 'sortorder' => '1942', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2363', 'article_category_id' => '138', 'title' => 'China Eases One-Child Policy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November. The reforms, which came at the end of a six-day meeting of the congress, have already been tested in parts of the country. They needed formal legislative approval to be put into effect.</div> <div> </div> <div> It is expected that reforms will be rolled out gradually and incrementally around the country, with provincial authorities entrusted to make their own decisions on implementation according to the local demographic situation. Factors other than the one-child policy, such as a lack of social security support, have also encouraged couples to limit their offspring.</div> <div> </div> <div> China is now believed to have a birth rate of just over 1.5 children per woman of child-bearing age - which is, in fact, higher than many of its regional neighbours, including Taiwan, Japan and South Korea. China introduced its one-child policy at the end of the 1970s to curb rapid population growth.</div> <div> </div> <div> Similarly, the Standing Committee also decided to China's notorious labour camps. The decision to close the labour camps puts an end to a controversial punishment system long criticised for its human rights abuses.</div> <div> </div> <div> The network, which was created in the 1950s based on the Soviet Gulag, allowed the Chinese police to send anyone to prison for up to four years without a trial. A labour camp sentence was almost impossible to appeal. China had 260 labour camps holding 160,000 inmates at the start of this year, according to figures from the Ministry of Justice and Human Rights Watch.</div> <div> </div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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' => 'China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November.', 'sortorder' => '2208', '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' => '2362', 'article_category_id' => '138', 'title' => 'ADB Ups Support For Projects Promoting Sustainable Development', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts. The projects promoted growth while at the same time enhancing access to basic services such as water supply, education, and health, and helping beneficiaries mitigate and adapt to climate change impacts, among others. "During the same period, ADB approved 112 projects with an environmental sustainability focus totaling more than $13 billion ― a 50% increase over the previous two years. It invested $4.4 billion in clean energy-related initiatives to provide an additional 2,125 megawatts of renewable energy generation capacity across the region over 2011 and 2012," informed the report. </div> <div> </div> <div> In response to the growing climate change threat, in 2012 alone, ADB approved climate-related finance of $3.4 billion while transport investments, including low-carbon projects, in 2012 totaled nearly $4 billion. According to the report, at the corporate level, ADB promoted sustainability by further reducing the per person use of water, electricity, and paper, and the waste generated at its headquarters, where 77% of its staff work. </div> <div> </div> <div> ADB is consistently run with the lowest overhead among multinational development banks, according to Standard and Poor’s. In 2012, ADB became the first multilateral development bank to attain ISO 50001 certification for energy management, with measures taken to “green” its headquarters building, including installing solar panels and collecting rainwater. To improve access to information, an updated Public Communications Policy was launched in 2012.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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 Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts', 'sortorder' => '2206', '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' => '2320', 'article_category_id' => '138', 'title' => 'Gold In Largest Annual Loss In 32 Years', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.</div> <div> </div> <div> Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year's losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div> <div> </div> <div> Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div> <div> </div> <div> While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div> <div> </div> <div> The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div> <div> </div> <div> Inflation has been subdued all year and remains well below the Fed's target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div> <div> </div> <div> Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div> <div> </div> <div> <hr /> </div> <div> <span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div> <div> Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed’s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure. </div> <div> </div> <div> Traders also agree with this. “Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,” opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. “Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,” Shakya says. </div> <div> </div> <div> Subdued demand of gold in domestic market is also seen as another factor affecting the bullion’s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. “Continuation of cash flow doesn’t always fulfill the expectations of stock market,” he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. “Apart from equity market’s performance, other sectors in Nepal aren’t performing well,” Shakya said adding, “Investors are likely to return to gold after the stock market makes its adjustment in near term.”</div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2013-12-30', '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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.', 'sortorder' => '2177', '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' => '2273', 'article_category_id' => '138', 'title' => 'Uruguay Becomes First Country To Legalize Marijuana Trade', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law. Outside the Senate, hundreds of cannabis-smoking supporters set off fireworks in what they dubbed “the last march with illegal marijuana.” The atmosphere was festive. The bill passed the lower house of Congress in August and was assured of approval because the ruling coalition controls both chambers. It authorizes the production, distribution and sale of cannabis, allows individuals to grow their own on a small scale, and creates consumer clubs -- all under state supervision and control.</div> <div> </div> <div> Uruguay’s pioneering move to legalize the planting and sale of marijuana opens the door for a clandestine cottage industry of pot growers to transform into a legitimate business that could even export medical cannabis, a commodity in short supply. More and more countries are setting up medical marijuana programs to help relieve the pain of terminally-ill patients and treat other health conditions, but there are few legal sources of the drug in the world and Uruguay could tap that tight market. The Uruguayan experiment could add momentum to the marijuana legalization debate in the United States, where the states of Washington and Oregon last year made it legal to grow and smoke pot.</div> <div> </div> <div> If regulation works, Uruguay could become an exporter of medical marijuana to countries such as Canada that are allowing an expansion of the use of the drug for health reasons. Canada became the first country to allow terminally ill patients to grow and smoke their own marijuana in 2001.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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' => 'Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law.', 'sortorder' => '2117', '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' => '2272', 'article_category_id' => '138', 'title' => 'South Asia On Track To Meet Growth Expectations In 2013-14 : ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs. India is anticipated to grow at 4.7 per cent in fiscal year 2013 (ending 31 March 2014) and 5.7 per cent in the fiscal year 2014, unchanged from the October forecast," says the bank. </div> <div> </div> <div> Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div> <div> </div> <div> However, ADB estimates slight moderation is forecast in Southeast Asia. The report forecasts the sub-region to post growth of 4.8% in 2013 and 5.2% in 2014; both forecasts are revised down 0.1 percentage points from October. "The moderation stems from the impact of tensions in Thailand on consumption and tourism. The devastating impact of Typhoon Haiyan is tempering the Philippines’ 2013 growth, but reconstruction is expected to boost growth as it ramps up in 2014," it said.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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 is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs.', 'sortorder' => '2116', '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' => '2232', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (9 -15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Japan Approves $182 bn Economic Package </strong></span></div> <div> Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact. The package has a headline value of 18.6 trillion yen ($182 billion), which is an exaggerated figure as the bulk of the package includes loans from government-backed lenders and spending by local governments that was already scheduled.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Australia and South Korea Agree FTA</strong></span></div> <div> Australia and South Korea have agreed on a free trade deal in an attempt to boost trade between the two countries. As part of the deal, tariffs on key Australian exports to South Korea such as agricultural products, energy and resources will be eliminated. It is also likely to help South Korean firms in sectors such as steel, textile and car manufacturing to boost their presence in Australia. Trade between the two nations was worth $29bn in 2012.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Newsweek to Revive Print Edition </strong></span></div> <div> US current affairs magazine Newsweek, which had ceased publication last year to focus on its Web site, plans to bring back the print edition early next year. The magazine expects to begin a 64-page weekly edition in January or February, Newsweek’s editor-in-chief Jim Impoco said in an interview to the New York Times.</div> <div> </div> <div> <span style="font-size:14px;"><strong>EU Fines Banks Record €1.71 bn over Libor</strong></span></div> <div> The European Union has levied a record antitrust fine of €1.71 billion ($2.3 billion) on six European and U.S. banks and brokers for rigging benchmark interest rates. Deutsche Bank was hit with the single biggest penalty of €725.4 million for participating in illegal cartels to manipulate the Euro Interbank Offered Rate, or Euribor, and London interbank offered rate, or Libor. Other firms fined were Societe Generale, Royal Bank of Scotland, JP Morgan and Citigroup , and U.K.-based broker RP Martin.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact.', 'sortorder' => '2074', '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' => '2231', 'article_category_id' => '138', 'title' => 'US Aids In Restoring Patan Royal Palace', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace. The preservation of this historic site was made possible through a $1.1 million grant provided by the U.S. Ambassadors Fund for Cultural Preservation (AFCP). US Ambassador Peter W. Bodde and Embassy officials congratulated the local community and AFCP partner, Kathmandu Valley Preservation Trust (KVPT), for the project’s great success. “The Ambassadors Fund is among the US government’s most significant cultural initiatives abroad. It makes me very proud as an American to know that my country supports and protects conservation efforts like this one around the world,” Ambassador Bodde said. </div> <div> </div> <div> In 2009, the project completed successfully for an Ambassadors Fund award under a special “large grant” competition. Nepal was one of only three countries, the others being Peru and Macedonia, to be selected and awarded a large grant.</div> <div> </div> <div> The AFCP has supported fifteen projects in Nepal since 2003. "The restoration of Patan Royal Palace has been a model project for cultural preservation in Nepal and across the globe," says the statement. In 2006, the Patan complex was added to the World Monuments Watch List of 100 Most Endangered Sites. Already by 2013, this well-preserved site displays centuries of intact history, and is among Nepal’s most significant cultural destinations.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace.', 'sortorder' => '2073', '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' => '2230', 'article_category_id' => '138', 'title' => 'US Assists To Improve Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes."On 15 November 2013, the Office of Defense Cooperation, US Embassy Kathmandu and CAAN officially signed a Memorandum of Understanding to carry out the project," informed the statement. </div> <div> </div> <div> The statement said that the US Army Corps of Engineers, working with local contractors, will provide design and construction services. "This project is a part of a greater plan for TIA infrastructure improvement through the Seismic Resistance Program," read the statement. The work is scheduled to start in January 2014.</div> <div> </div> <div> The project aims at keeping the runway open even after an earthquake. Specific areas for the program include runway integrity, navigation aids, crash-fire-rescue, and air-ground operations. Those measures come in line with efforts taken by CAAN and TIA over the past two years for disaster preparedness.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes.', 'sortorder' => '2072', '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' => '2149', 'article_category_id' => '138', 'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland. </div> <div> </div> <div> Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, “We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.” Malia Talakai, the AOSIS spokesperson for loss and damage, adds, “SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.”</div> <div> </div> <div> “Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,” argues Elia del Carmen Guerra of Panama.</div> <div> </div> <div> Patience Damptey, negotiator for the African Group, adds, “Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.”</div> <div> </div> <div> Adao Barbosa, outlining the position of the LDC group, said, “If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.”</div> <div> </div> <div> Juan Hoffmaister concludes for G77, “It’s unacceptable that some continue to sideline this issue, or fob it off as a ‘research agenda’ item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world’s most vulnerable people.”</div> <div> </div> <div> “Loss and damage from climate change is a reality today across the world,” says Naderev “Yeb” Sano, Climate Change Commissioner of the Philippines, “My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created”.</div> <div> </div> <div> He adds: “Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40–50% on 1990 levels, we would still have locked–in climate change and would still need to address the issue of loss and damage.”</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.', 'sortorder' => '1996', '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' => '2148', 'article_category_id' => '138', 'title' => 'World Applauds CA Elections', 'sub_title' => '', 'summary' => null, 'content' => '<div> The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div> <div> </div> <div> According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. “These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,” reads the statement. </div> <div> </div> <div> Similarly, neighbouring India also hailed the elections as free and fair. In a press statement, Indian Ministry of External Affairs said, “The successful conduct of free and fair elections in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal’s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.” Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.', 'sortorder' => '1995', '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' => '2147', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Inaugurates US Embassy Book Bus', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div> <div> </div> <div> According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. "Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology," informed the release. The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals. </div> <div> </div> <div> The Book Bus is an expansion of the US Embassy’s seven American Corner libraries located throughout Nepal. "These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike," said the embassy. The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div> <div> </div> <div> With the help of a partner organization, Quixote’s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. Through the Book Bus, books will also be donated to young readers in English and Nepali.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.', 'sortorder' => '1994', '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' => '2097', 'article_category_id' => '138', 'title' => 'US Embassy Supports Kartik Nach', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests. "This unique form of storytelling through dance, started in the 17th century, has not been performed in its entirety since 1949. With the support of the US Embassy, in partnership with the Alliance for Ecotourism, the full Kartik Nach will be restored and documented," says the statement. </div> <div> </div> <div> The US Embassy’s support of Kartik Nach was made possible by a grant of $75,300 from the Ambassadors Fund for Cultural Preservation (AFCP). This is the Embassy’s first non-tangible cultural heritage project funded by AFCP in Nepal. The embassy hoped that the assistance and grant will revive the centuries-old tradition. The grant will assist the Kartik Nach Preservation Committee to restore the full form of the dance and to document and teach this cultural tradition to a new generation. </div> <div> </div> <div> The Kartik Nach festival is an eight-day long dance festival believed to have been introduced by King Siddhi Narsingh Malla in 1637 AD. It is a combination of traditional music and drama based on the story of Lord Narsimha, incarnation of Hindu god Vishnu. The dance will be performed each evening in the month of Kartik in Patan Durbar Square. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-12', '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 US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests.', 'sortorder' => '1967', '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' => '2096', 'article_category_id' => '138', 'title' => 'Starting A Business In Nepal Becoming Faster And Easier: IFC', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> O<span style="font-size: 12px;">ver the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly. “This was achieved by reducing administrative processing times at the company registrar and establishing data links between agencies involved in the incorporation process,” states the report. </span></div> <div> </div> <div> The report entitled ‘Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises’ ranks Nepal 105th out of 189 global economies. Nepal ranked 108th last year. In terms of helping create a better environment for local entrepreneurs, Nepal ranks third in the eight South Asian economies surveyed, surpassed only by Sri Lanka and Maldives. The country’s rank in Starting a Business topic is 97, compared to 103 in 2013. “A congenial business environment is important for Nepal’s economic growth”, said Val S. Bagatsing, IFC Resident Representative in Nepal. “We are encouraged by the rapid pace of reform in Nepal which will attract more investment and create jobs in the country.” The report benchmarks performance of economies in ten indicators: starting a business, availability of electricity, availability of credit, dealing with construction permits, property registration, protection of investors, tax provisions, trans-border trading, contract enforcements and resolving insolvency. </div> <div> </div> <div> The IFC report finds that South Asia leads the world in implementing business regulatory reforms in 2012/13. Six of eight economies in the region completed 11 reforms simplifying the process of starting a business, strengthening access to credit, or easing the process for paying taxes. Sri Lanka was the best performing economy in the South Asia region securing 85th position whereas India ranked 134th in the index followed by Bhutan (141) and Afghanistan (164). Similarly, Maldives, Pakistan and Bangladesh secured 95th, 110th and 130th positions respectively. </div> <div> </div> <div> Singapore tops the global ranking on the ease of doing business. Similarly, Hong Kong, China, New Zealand, United States, Denmark, Malaysia, Republic of Korea, Georgia, Norway, and the United Kingdom secured the top 10 spot of economies with the most business-friendly regulations. Meanwhile, Libya (187), Central African Republic (188) and Chad (189) were lowest ranking economies in the index. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-12-02', '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' => 'Over the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly.', 'sortorder' => '1944', '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' => '2023', 'article_category_id' => '138', 'title' => 'Nepal To Achieve Mid-Range Economic Growth: WB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned. Similarly, the bank projected that public spending will pick up sharply in FY 2014, boosting the overall economy. </div> <div> </div> <div> The bank noted political instability as the major obstacle to achieve higher growth trajectory. "Political instability clouded the outlook in FY 2013 and remains the principal source of vulnerability going forward," states the report. "It is time for Nepal to shift its focus from politics to economics," said Johannes Zutt, World Bank Country Director for Nepal and Bangladesh in an interaction programme with journalists during the launch of the report on Thursday, “While the political process continues, it is important to focus on economic and development prospects." He mentioned that Nepal's current economic growth is not high enough to reduce poverty. "Nepal should achieve GDP growth of 7 - 9 per cent for sustainable economic growth," Zutt stressed. </div> <div> </div> <div> Despite the mid-range growth rate, the bank pointed out bottlenecks in access to modern energy, transportation and financial sector as hindrances to achieve higher growth trajectory. Regarding the recent foreign exchange rate volatility, the bank expressed that the depreciation of rupee should be taken as a cause for concern not as panic. "Fears of serious negative economic consequences are mostly exaggerated, although some specific groups and sectors of the economy might lose out," states the report. The bank suggested that Nepal should maintain the existing currency rate peg between Nepali rupee (NPR) and Indian rupee (INR). "Given the significant integration of the Nepali and Indian economies, the peg makes a lot of sense, any adjustment to the peg would sharply disturb the flow of goods and capital between the two countries by adding significant uncertainty to trans-border transaction," the report adds. </div> <div> </div> <div> Presenting the report, Aureilien Kruse, the Senior Country Economist at the World Bank's Nepal office termed rupee depreciation as an 'alignment' as it had appreciated above target levels. Kruse said that while the currency depreciation has pushed up Nepal's import bills and led to a rise in inflation rate, there are other benefitting factors too. "A depreciated rupee can be translated into stronger incomes from remittances and exports," he said. Though the bank didn't present any exact figure, Kruse projected the inflation in Nepal to remain at 'high single-digit' in coming FY as increasing fiscal expenditures and the upcoming elections will further push up the consumer price levels. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned.', 'sortorder' => '1942', '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' => '2455', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Lays Foundation Stone For New Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2363', 'article_category_id' => '138', 'title' => 'China Eases One-Child Policy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November. The reforms, which came at the end of a six-day meeting of the congress, have already been tested in parts of the country. They needed formal legislative approval to be put into effect.</div> <div> </div> <div> It is expected that reforms will be rolled out gradually and incrementally around the country, with provincial authorities entrusted to make their own decisions on implementation according to the local demographic situation. Factors other than the one-child policy, such as a lack of social security support, have also encouraged couples to limit their offspring.</div> <div> </div> <div> China is now believed to have a birth rate of just over 1.5 children per woman of child-bearing age - which is, in fact, higher than many of its regional neighbours, including Taiwan, Japan and South Korea. China introduced its one-child policy at the end of the 1970s to curb rapid population growth.</div> <div> </div> <div> Similarly, the Standing Committee also decided to China's notorious labour camps. The decision to close the labour camps puts an end to a controversial punishment system long criticised for its human rights abuses.</div> <div> </div> <div> The network, which was created in the 1950s based on the Soviet Gulag, allowed the Chinese police to send anyone to prison for up to four years without a trial. A labour camp sentence was almost impossible to appeal. China had 260 labour camps holding 160,000 inmates at the start of this year, according to figures from the Ministry of Justice and Human Rights Watch.</div> <div> </div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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' => 'China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November.', 'sortorder' => '2208', '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' => '2362', 'article_category_id' => '138', 'title' => 'ADB Ups Support For Projects Promoting Sustainable Development', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts. The projects promoted growth while at the same time enhancing access to basic services such as water supply, education, and health, and helping beneficiaries mitigate and adapt to climate change impacts, among others. "During the same period, ADB approved 112 projects with an environmental sustainability focus totaling more than $13 billion ― a 50% increase over the previous two years. It invested $4.4 billion in clean energy-related initiatives to provide an additional 2,125 megawatts of renewable energy generation capacity across the region over 2011 and 2012," informed the report. </div> <div> </div> <div> In response to the growing climate change threat, in 2012 alone, ADB approved climate-related finance of $3.4 billion while transport investments, including low-carbon projects, in 2012 totaled nearly $4 billion. According to the report, at the corporate level, ADB promoted sustainability by further reducing the per person use of water, electricity, and paper, and the waste generated at its headquarters, where 77% of its staff work. </div> <div> </div> <div> ADB is consistently run with the lowest overhead among multinational development banks, according to Standard and Poor’s. In 2012, ADB became the first multilateral development bank to attain ISO 50001 certification for energy management, with measures taken to “green” its headquarters building, including installing solar panels and collecting rainwater. To improve access to information, an updated Public Communications Policy was launched in 2012.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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 Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts', 'sortorder' => '2206', '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' => '2320', 'article_category_id' => '138', 'title' => 'Gold In Largest Annual Loss In 32 Years', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.</div> <div> </div> <div> Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year's losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div> <div> </div> <div> Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div> <div> </div> <div> While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div> <div> </div> <div> The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div> <div> </div> <div> Inflation has been subdued all year and remains well below the Fed's target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div> <div> </div> <div> Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div> <div> </div> <div> <hr /> </div> <div> <span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div> <div> Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed’s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure. </div> <div> </div> <div> Traders also agree with this. “Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,” opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. “Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,” Shakya says. </div> <div> </div> <div> Subdued demand of gold in domestic market is also seen as another factor affecting the bullion’s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. “Continuation of cash flow doesn’t always fulfill the expectations of stock market,” he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. “Apart from equity market’s performance, other sectors in Nepal aren’t performing well,” Shakya said adding, “Investors are likely to return to gold after the stock market makes its adjustment in near term.”</div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2013-12-30', '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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.', 'sortorder' => '2177', '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' => '2273', 'article_category_id' => '138', 'title' => 'Uruguay Becomes First Country To Legalize Marijuana Trade', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law. Outside the Senate, hundreds of cannabis-smoking supporters set off fireworks in what they dubbed “the last march with illegal marijuana.” The atmosphere was festive. The bill passed the lower house of Congress in August and was assured of approval because the ruling coalition controls both chambers. It authorizes the production, distribution and sale of cannabis, allows individuals to grow their own on a small scale, and creates consumer clubs -- all under state supervision and control.</div> <div> </div> <div> Uruguay’s pioneering move to legalize the planting and sale of marijuana opens the door for a clandestine cottage industry of pot growers to transform into a legitimate business that could even export medical cannabis, a commodity in short supply. More and more countries are setting up medical marijuana programs to help relieve the pain of terminally-ill patients and treat other health conditions, but there are few legal sources of the drug in the world and Uruguay could tap that tight market. The Uruguayan experiment could add momentum to the marijuana legalization debate in the United States, where the states of Washington and Oregon last year made it legal to grow and smoke pot.</div> <div> </div> <div> If regulation works, Uruguay could become an exporter of medical marijuana to countries such as Canada that are allowing an expansion of the use of the drug for health reasons. Canada became the first country to allow terminally ill patients to grow and smoke their own marijuana in 2001.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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' => 'Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law.', 'sortorder' => '2117', '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' => '2272', 'article_category_id' => '138', 'title' => 'South Asia On Track To Meet Growth Expectations In 2013-14 : ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs. India is anticipated to grow at 4.7 per cent in fiscal year 2013 (ending 31 March 2014) and 5.7 per cent in the fiscal year 2014, unchanged from the October forecast," says the bank. </div> <div> </div> <div> Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div> <div> </div> <div> However, ADB estimates slight moderation is forecast in Southeast Asia. The report forecasts the sub-region to post growth of 4.8% in 2013 and 5.2% in 2014; both forecasts are revised down 0.1 percentage points from October. "The moderation stems from the impact of tensions in Thailand on consumption and tourism. The devastating impact of Typhoon Haiyan is tempering the Philippines’ 2013 growth, but reconstruction is expected to boost growth as it ramps up in 2014," it said.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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 is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs.', 'sortorder' => '2116', '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' => '2232', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (9 -15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Japan Approves $182 bn Economic Package </strong></span></div> <div> Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact. The package has a headline value of 18.6 trillion yen ($182 billion), which is an exaggerated figure as the bulk of the package includes loans from government-backed lenders and spending by local governments that was already scheduled.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Australia and South Korea Agree FTA</strong></span></div> <div> Australia and South Korea have agreed on a free trade deal in an attempt to boost trade between the two countries. As part of the deal, tariffs on key Australian exports to South Korea such as agricultural products, energy and resources will be eliminated. It is also likely to help South Korean firms in sectors such as steel, textile and car manufacturing to boost their presence in Australia. Trade between the two nations was worth $29bn in 2012.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Newsweek to Revive Print Edition </strong></span></div> <div> US current affairs magazine Newsweek, which had ceased publication last year to focus on its Web site, plans to bring back the print edition early next year. The magazine expects to begin a 64-page weekly edition in January or February, Newsweek’s editor-in-chief Jim Impoco said in an interview to the New York Times.</div> <div> </div> <div> <span style="font-size:14px;"><strong>EU Fines Banks Record €1.71 bn over Libor</strong></span></div> <div> The European Union has levied a record antitrust fine of €1.71 billion ($2.3 billion) on six European and U.S. banks and brokers for rigging benchmark interest rates. Deutsche Bank was hit with the single biggest penalty of €725.4 million for participating in illegal cartels to manipulate the Euro Interbank Offered Rate, or Euribor, and London interbank offered rate, or Libor. Other firms fined were Societe Generale, Royal Bank of Scotland, JP Morgan and Citigroup , and U.K.-based broker RP Martin.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact.', 'sortorder' => '2074', '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' => '2231', 'article_category_id' => '138', 'title' => 'US Aids In Restoring Patan Royal Palace', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace. The preservation of this historic site was made possible through a $1.1 million grant provided by the U.S. Ambassadors Fund for Cultural Preservation (AFCP). US Ambassador Peter W. Bodde and Embassy officials congratulated the local community and AFCP partner, Kathmandu Valley Preservation Trust (KVPT), for the project’s great success. “The Ambassadors Fund is among the US government’s most significant cultural initiatives abroad. It makes me very proud as an American to know that my country supports and protects conservation efforts like this one around the world,” Ambassador Bodde said. </div> <div> </div> <div> In 2009, the project completed successfully for an Ambassadors Fund award under a special “large grant” competition. Nepal was one of only three countries, the others being Peru and Macedonia, to be selected and awarded a large grant.</div> <div> </div> <div> The AFCP has supported fifteen projects in Nepal since 2003. "The restoration of Patan Royal Palace has been a model project for cultural preservation in Nepal and across the globe," says the statement. In 2006, the Patan complex was added to the World Monuments Watch List of 100 Most Endangered Sites. Already by 2013, this well-preserved site displays centuries of intact history, and is among Nepal’s most significant cultural destinations.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace.', 'sortorder' => '2073', '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' => '2230', 'article_category_id' => '138', 'title' => 'US Assists To Improve Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes."On 15 November 2013, the Office of Defense Cooperation, US Embassy Kathmandu and CAAN officially signed a Memorandum of Understanding to carry out the project," informed the statement. </div> <div> </div> <div> The statement said that the US Army Corps of Engineers, working with local contractors, will provide design and construction services. "This project is a part of a greater plan for TIA infrastructure improvement through the Seismic Resistance Program," read the statement. The work is scheduled to start in January 2014.</div> <div> </div> <div> The project aims at keeping the runway open even after an earthquake. Specific areas for the program include runway integrity, navigation aids, crash-fire-rescue, and air-ground operations. Those measures come in line with efforts taken by CAAN and TIA over the past two years for disaster preparedness.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes.', 'sortorder' => '2072', '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' => '2149', 'article_category_id' => '138', 'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland. </div> <div> </div> <div> Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, “We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.” Malia Talakai, the AOSIS spokesperson for loss and damage, adds, “SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.”</div> <div> </div> <div> “Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,” argues Elia del Carmen Guerra of Panama.</div> <div> </div> <div> Patience Damptey, negotiator for the African Group, adds, “Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.”</div> <div> </div> <div> Adao Barbosa, outlining the position of the LDC group, said, “If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.”</div> <div> </div> <div> Juan Hoffmaister concludes for G77, “It’s unacceptable that some continue to sideline this issue, or fob it off as a ‘research agenda’ item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world’s most vulnerable people.”</div> <div> </div> <div> “Loss and damage from climate change is a reality today across the world,” says Naderev “Yeb” Sano, Climate Change Commissioner of the Philippines, “My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created”.</div> <div> </div> <div> He adds: “Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40–50% on 1990 levels, we would still have locked–in climate change and would still need to address the issue of loss and damage.”</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.', 'sortorder' => '1996', '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' => '2148', 'article_category_id' => '138', 'title' => 'World Applauds CA Elections', 'sub_title' => '', 'summary' => null, 'content' => '<div> The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div> <div> </div> <div> According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. “These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,” reads the statement. </div> <div> </div> <div> Similarly, neighbouring India also hailed the elections as free and fair. In a press statement, Indian Ministry of External Affairs said, “The successful conduct of free and fair elections in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal’s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.” Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.', 'sortorder' => '1995', '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' => '2147', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Inaugurates US Embassy Book Bus', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div> <div> </div> <div> According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. "Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology," informed the release. The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals. </div> <div> </div> <div> The Book Bus is an expansion of the US Embassy’s seven American Corner libraries located throughout Nepal. "These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike," said the embassy. The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div> <div> </div> <div> With the help of a partner organization, Quixote’s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. Through the Book Bus, books will also be donated to young readers in English and Nepali.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.', 'sortorder' => '1994', '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' => '2097', 'article_category_id' => '138', 'title' => 'US Embassy Supports Kartik Nach', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests. "This unique form of storytelling through dance, started in the 17th century, has not been performed in its entirety since 1949. With the support of the US Embassy, in partnership with the Alliance for Ecotourism, the full Kartik Nach will be restored and documented," says the statement. </div> <div> </div> <div> The US Embassy’s support of Kartik Nach was made possible by a grant of $75,300 from the Ambassadors Fund for Cultural Preservation (AFCP). This is the Embassy’s first non-tangible cultural heritage project funded by AFCP in Nepal. The embassy hoped that the assistance and grant will revive the centuries-old tradition. The grant will assist the Kartik Nach Preservation Committee to restore the full form of the dance and to document and teach this cultural tradition to a new generation. </div> <div> </div> <div> The Kartik Nach festival is an eight-day long dance festival believed to have been introduced by King Siddhi Narsingh Malla in 1637 AD. It is a combination of traditional music and drama based on the story of Lord Narsimha, incarnation of Hindu god Vishnu. The dance will be performed each evening in the month of Kartik in Patan Durbar Square. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-12', '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 US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests.', 'sortorder' => '1967', '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' => '2096', 'article_category_id' => '138', 'title' => 'Starting A Business In Nepal Becoming Faster And Easier: IFC', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> O<span style="font-size: 12px;">ver the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly. “This was achieved by reducing administrative processing times at the company registrar and establishing data links between agencies involved in the incorporation process,” states the report. </span></div> <div> </div> <div> The report entitled ‘Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises’ ranks Nepal 105th out of 189 global economies. Nepal ranked 108th last year. In terms of helping create a better environment for local entrepreneurs, Nepal ranks third in the eight South Asian economies surveyed, surpassed only by Sri Lanka and Maldives. The country’s rank in Starting a Business topic is 97, compared to 103 in 2013. “A congenial business environment is important for Nepal’s economic growth”, said Val S. Bagatsing, IFC Resident Representative in Nepal. “We are encouraged by the rapid pace of reform in Nepal which will attract more investment and create jobs in the country.” The report benchmarks performance of economies in ten indicators: starting a business, availability of electricity, availability of credit, dealing with construction permits, property registration, protection of investors, tax provisions, trans-border trading, contract enforcements and resolving insolvency. </div> <div> </div> <div> The IFC report finds that South Asia leads the world in implementing business regulatory reforms in 2012/13. Six of eight economies in the region completed 11 reforms simplifying the process of starting a business, strengthening access to credit, or easing the process for paying taxes. Sri Lanka was the best performing economy in the South Asia region securing 85th position whereas India ranked 134th in the index followed by Bhutan (141) and Afghanistan (164). Similarly, Maldives, Pakistan and Bangladesh secured 95th, 110th and 130th positions respectively. </div> <div> </div> <div> Singapore tops the global ranking on the ease of doing business. Similarly, Hong Kong, China, New Zealand, United States, Denmark, Malaysia, Republic of Korea, Georgia, Norway, and the United Kingdom secured the top 10 spot of economies with the most business-friendly regulations. Meanwhile, Libya (187), Central African Republic (188) and Chad (189) were lowest ranking economies in the index. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-12-02', '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' => 'Over the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly.', 'sortorder' => '1944', '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' => '2023', 'article_category_id' => '138', 'title' => 'Nepal To Achieve Mid-Range Economic Growth: WB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned. Similarly, the bank projected that public spending will pick up sharply in FY 2014, boosting the overall economy. </div> <div> </div> <div> The bank noted political instability as the major obstacle to achieve higher growth trajectory. "Political instability clouded the outlook in FY 2013 and remains the principal source of vulnerability going forward," states the report. "It is time for Nepal to shift its focus from politics to economics," said Johannes Zutt, World Bank Country Director for Nepal and Bangladesh in an interaction programme with journalists during the launch of the report on Thursday, “While the political process continues, it is important to focus on economic and development prospects." He mentioned that Nepal's current economic growth is not high enough to reduce poverty. "Nepal should achieve GDP growth of 7 - 9 per cent for sustainable economic growth," Zutt stressed. </div> <div> </div> <div> Despite the mid-range growth rate, the bank pointed out bottlenecks in access to modern energy, transportation and financial sector as hindrances to achieve higher growth trajectory. Regarding the recent foreign exchange rate volatility, the bank expressed that the depreciation of rupee should be taken as a cause for concern not as panic. "Fears of serious negative economic consequences are mostly exaggerated, although some specific groups and sectors of the economy might lose out," states the report. The bank suggested that Nepal should maintain the existing currency rate peg between Nepali rupee (NPR) and Indian rupee (INR). "Given the significant integration of the Nepali and Indian economies, the peg makes a lot of sense, any adjustment to the peg would sharply disturb the flow of goods and capital between the two countries by adding significant uncertainty to trans-border transaction," the report adds. </div> <div> </div> <div> Presenting the report, Aureilien Kruse, the Senior Country Economist at the World Bank's Nepal office termed rupee depreciation as an 'alignment' as it had appreciated above target levels. Kruse said that while the currency depreciation has pushed up Nepal's import bills and led to a rise in inflation rate, there are other benefitting factors too. "A depreciated rupee can be translated into stronger incomes from remittances and exports," he said. Though the bank didn't present any exact figure, Kruse projected the inflation in Nepal to remain at 'high single-digit' in coming FY as increasing fiscal expenditures and the upcoming elections will further push up the consumer price levels. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned.', 'sortorder' => '1942', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day. </div> <div> </div> <div> In his remarks Ambassador Bodde said, “Two of my goals as the U.S. Ambassador are to support economic growth and reduce disaster risk in Nepal. Ultimately, we want to plan and prepare in a way that will save lives and destruction of property, lessen the impact of a disaster, and shorten the time of recovery."</div>', 'published' => true, 'created' => '2014-01-20', 'modified' => '2014-01-20', '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' => 'US Ambassador Peter W. Bodde and Secretary of Ministry of Culture, Tourism and Civil Aviation Sushil Ghimire jointly laid the foundation stone for the new seismically safe Crash Rescue and Fire Station Building at Tribhuvan International Airport on January 16, Thursday. The US government is providing assistance totaling USD 462,000 to build a new station and make it resistant to earthquakes. According to a press statement by the US embassy in Kathmandu, the work is part of a larger effort to improve critical infrastructure that will allow the airport to remain open if a major earthquake were to occur. The foundation laying was marked by the 16th annual Earthquake Safety Day.', 'sortorder' => '2297', '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' => '2363', 'article_category_id' => '138', 'title' => 'China Eases One-Child Policy', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November. The reforms, which came at the end of a six-day meeting of the congress, have already been tested in parts of the country. They needed formal legislative approval to be put into effect.</div> <div> </div> <div> It is expected that reforms will be rolled out gradually and incrementally around the country, with provincial authorities entrusted to make their own decisions on implementation according to the local demographic situation. Factors other than the one-child policy, such as a lack of social security support, have also encouraged couples to limit their offspring.</div> <div> </div> <div> China is now believed to have a birth rate of just over 1.5 children per woman of child-bearing age - which is, in fact, higher than many of its regional neighbours, including Taiwan, Japan and South Korea. China introduced its one-child policy at the end of the 1970s to curb rapid population growth.</div> <div> </div> <div> Similarly, the Standing Committee also decided to China's notorious labour camps. The decision to close the labour camps puts an end to a controversial punishment system long criticised for its human rights abuses.</div> <div> </div> <div> The network, which was created in the 1950s based on the Soviet Gulag, allowed the Chinese police to send anyone to prison for up to four years without a trial. A labour camp sentence was almost impossible to appeal. China had 260 labour camps holding 160,000 inmates at the start of this year, according to figures from the Ministry of Justice and Human Rights Watch.</div> <div> </div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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' => 'China's top legislature has formally adopted a resolution easing the country's one-child policy, the state news agency Xinhua reports. The Standing Committee of the National People's Congress passed a resolution allowing couples to have two children if either parent is an only child. A proposal to abolish re-education through labour camps was also approved. The changes in policy were announced following a meeting of top Communist Party officials in November.', 'sortorder' => '2208', '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' => '2362', 'article_category_id' => '138', 'title' => 'ADB Ups Support For Projects Promoting Sustainable Development', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts. The projects promoted growth while at the same time enhancing access to basic services such as water supply, education, and health, and helping beneficiaries mitigate and adapt to climate change impacts, among others. "During the same period, ADB approved 112 projects with an environmental sustainability focus totaling more than $13 billion ― a 50% increase over the previous two years. It invested $4.4 billion in clean energy-related initiatives to provide an additional 2,125 megawatts of renewable energy generation capacity across the region over 2011 and 2012," informed the report. </div> <div> </div> <div> In response to the growing climate change threat, in 2012 alone, ADB approved climate-related finance of $3.4 billion while transport investments, including low-carbon projects, in 2012 totaled nearly $4 billion. According to the report, at the corporate level, ADB promoted sustainability by further reducing the per person use of water, electricity, and paper, and the waste generated at its headquarters, where 77% of its staff work. </div> <div> </div> <div> ADB is consistently run with the lowest overhead among multinational development banks, according to Standard and Poor’s. In 2012, ADB became the first multilateral development bank to attain ISO 50001 certification for energy management, with measures taken to “green” its headquarters building, including installing solar panels and collecting rainwater. To improve access to information, an updated Public Communications Policy was launched in 2012.</div>', 'published' => true, 'created' => '2013-12-31', 'modified' => '2013-12-31', '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 Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts', 'sortorder' => '2206', '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' => '2320', 'article_category_id' => '138', 'title' => 'Gold In Largest Annual Loss In 32 Years', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.</div> <div> </div> <div> Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year's losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div> <div> </div> <div> Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div> <div> </div> <div> While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div> <div> </div> <div> The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div> <div> </div> <div> Inflation has been subdued all year and remains well below the Fed's target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div> <div> </div> <div> Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div> <div> </div> <div> <hr /> </div> <div> <span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div> <div> Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed’s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure. </div> <div> </div> <div> Traders also agree with this. “Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,” opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. “Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,” Shakya says. </div> <div> </div> <div> Subdued demand of gold in domestic market is also seen as another factor affecting the bullion’s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. “Continuation of cash flow doesn’t always fulfill the expectations of stock market,” he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. “Apart from equity market’s performance, other sectors in Nepal aren’t performing well,” Shakya said adding, “Investors are likely to return to gold after the stock market makes its adjustment in near term.”</div>', 'published' => true, 'created' => '2013-12-23', 'modified' => '2013-12-30', '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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.', 'sortorder' => '2177', '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' => '2273', 'article_category_id' => '138', 'title' => 'Uruguay Becomes First Country To Legalize Marijuana Trade', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law. Outside the Senate, hundreds of cannabis-smoking supporters set off fireworks in what they dubbed “the last march with illegal marijuana.” The atmosphere was festive. The bill passed the lower house of Congress in August and was assured of approval because the ruling coalition controls both chambers. It authorizes the production, distribution and sale of cannabis, allows individuals to grow their own on a small scale, and creates consumer clubs -- all under state supervision and control.</div> <div> </div> <div> Uruguay’s pioneering move to legalize the planting and sale of marijuana opens the door for a clandestine cottage industry of pot growers to transform into a legitimate business that could even export medical cannabis, a commodity in short supply. More and more countries are setting up medical marijuana programs to help relieve the pain of terminally-ill patients and treat other health conditions, but there are few legal sources of the drug in the world and Uruguay could tap that tight market. The Uruguayan experiment could add momentum to the marijuana legalization debate in the United States, where the states of Washington and Oregon last year made it legal to grow and smoke pot.</div> <div> </div> <div> If regulation works, Uruguay could become an exporter of medical marijuana to countries such as Canada that are allowing an expansion of the use of the drug for health reasons. Canada became the first country to allow terminally ill patients to grow and smoke their own marijuana in 2001.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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' => 'Uruguay has approved pioneering legislation legalizing marijuana, becoming the first nation in the world to oversee the production and sale of the drug. After a 12-hour debate, 16 leftist senators out of 29 lawmakers voted Tuesday in favor of the legislation championed by President Jose Mujica, who must now sign it into law.', 'sortorder' => '2117', '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' => '2272', 'article_category_id' => '138', 'title' => 'South Asia On Track To Meet Growth Expectations In 2013-14 : ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> South Asia is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs. India is anticipated to grow at 4.7 per cent in fiscal year 2013 (ending 31 March 2014) and 5.7 per cent in the fiscal year 2014, unchanged from the October forecast," says the bank. </div> <div> </div> <div> Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div> <div> </div> <div> However, ADB estimates slight moderation is forecast in Southeast Asia. The report forecasts the sub-region to post growth of 4.8% in 2013 and 5.2% in 2014; both forecasts are revised down 0.1 percentage points from October. "The moderation stems from the impact of tensions in Thailand on consumption and tourism. The devastating impact of Typhoon Haiyan is tempering the Philippines’ 2013 growth, but reconstruction is expected to boost growth as it ramps up in 2014," it said.</div>', 'published' => true, 'created' => '2013-12-16', 'modified' => '2013-12-16', '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 is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs.', 'sortorder' => '2116', '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' => '2232', 'article_category_id' => '138', 'title' => 'Nepal And The World News In Brief (9 -15 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Japan Approves $182 bn Economic Package </strong></span></div> <div> Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact. The package has a headline value of 18.6 trillion yen ($182 billion), which is an exaggerated figure as the bulk of the package includes loans from government-backed lenders and spending by local governments that was already scheduled.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Australia and South Korea Agree FTA</strong></span></div> <div> Australia and South Korea have agreed on a free trade deal in an attempt to boost trade between the two countries. As part of the deal, tariffs on key Australian exports to South Korea such as agricultural products, energy and resources will be eliminated. It is also likely to help South Korean firms in sectors such as steel, textile and car manufacturing to boost their presence in Australia. Trade between the two nations was worth $29bn in 2012.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Newsweek to Revive Print Edition </strong></span></div> <div> US current affairs magazine Newsweek, which had ceased publication last year to focus on its Web site, plans to bring back the print edition early next year. The magazine expects to begin a 64-page weekly edition in January or February, Newsweek’s editor-in-chief Jim Impoco said in an interview to the New York Times.</div> <div> </div> <div> <span style="font-size:14px;"><strong>EU Fines Banks Record €1.71 bn over Libor</strong></span></div> <div> The European Union has levied a record antitrust fine of €1.71 billion ($2.3 billion) on six European and U.S. banks and brokers for rigging benchmark interest rates. Deutsche Bank was hit with the single biggest penalty of €725.4 million for participating in illegal cartels to manipulate the Euro Interbank Offered Rate, or Euribor, and London interbank offered rate, or Libor. Other firms fined were Societe Generale, Royal Bank of Scotland, JP Morgan and Citigroup , and U.K.-based broker RP Martin.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Japanese Prime Minister Shinzo Abe’s cabinet approved a $182 billion package on Thursday to pull the economy out of deflation, but doubts remain about the impact.', 'sortorder' => '2074', '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' => '2231', 'article_category_id' => '138', 'title' => 'US Aids In Restoring Patan Royal Palace', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace. The preservation of this historic site was made possible through a $1.1 million grant provided by the U.S. Ambassadors Fund for Cultural Preservation (AFCP). US Ambassador Peter W. Bodde and Embassy officials congratulated the local community and AFCP partner, Kathmandu Valley Preservation Trust (KVPT), for the project’s great success. “The Ambassadors Fund is among the US government’s most significant cultural initiatives abroad. It makes me very proud as an American to know that my country supports and protects conservation efforts like this one around the world,” Ambassador Bodde said. </div> <div> </div> <div> In 2009, the project completed successfully for an Ambassadors Fund award under a special “large grant” competition. Nepal was one of only three countries, the others being Peru and Macedonia, to be selected and awarded a large grant.</div> <div> </div> <div> The AFCP has supported fifteen projects in Nepal since 2003. "The restoration of Patan Royal Palace has been a model project for cultural preservation in Nepal and across the globe," says the statement. In 2006, the Patan complex was added to the World Monuments Watch List of 100 Most Endangered Sites. Already by 2013, this well-preserved site displays centuries of intact history, and is among Nepal’s most significant cultural destinations.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Patan Royal Palace, a historic site of Nepal has been restored with the financial assistance of the United States. According to a press statement by the US Embassy, conservation experts, representatives from the government of Nepal and the diplomatic community joined members of the Patan community on December 1 to celebrate the completion of the restoration of Patan Royal Palace.', 'sortorder' => '2073', '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' => '2230', 'article_category_id' => '138', 'title' => 'US Assists To Improve Airport Rescue Station', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes."On 15 November 2013, the Office of Defense Cooperation, US Embassy Kathmandu and CAAN officially signed a Memorandum of Understanding to carry out the project," informed the statement. </div> <div> </div> <div> The statement said that the US Army Corps of Engineers, working with local contractors, will provide design and construction services. "This project is a part of a greater plan for TIA infrastructure improvement through the Seismic Resistance Program," read the statement. The work is scheduled to start in January 2014.</div> <div> </div> <div> The project aims at keeping the runway open even after an earthquake. Specific areas for the program include runway integrity, navigation aids, crash-fire-rescue, and air-ground operations. Those measures come in line with efforts taken by CAAN and TIA over the past two years for disaster preparedness.</div>', 'published' => true, 'created' => '2013-12-09', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The United States government has partnered with the Civil Aviation Authority of Nepal (CAAN) to improve airport rescue station at the Tribhuvan International Airport (TIA). According to a press statement by the US embassy in Kathmandu, a financial assistance worth $426,000 will be used to retrofit the TIA's Crash, Fire and Rescue Station to make it more resistant to earthquakes.', 'sortorder' => '2072', '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' => '2149', 'article_category_id' => '138', 'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland. </div> <div> </div> <div> Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, “We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.” Malia Talakai, the AOSIS spokesperson for loss and damage, adds, “SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.”</div> <div> </div> <div> “Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,” argues Elia del Carmen Guerra of Panama.</div> <div> </div> <div> Patience Damptey, negotiator for the African Group, adds, “Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.”</div> <div> </div> <div> Adao Barbosa, outlining the position of the LDC group, said, “If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.”</div> <div> </div> <div> Juan Hoffmaister concludes for G77, “It’s unacceptable that some continue to sideline this issue, or fob it off as a ‘research agenda’ item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world’s most vulnerable people.”</div> <div> </div> <div> “Loss and damage from climate change is a reality today across the world,” says Naderev “Yeb” Sano, Climate Change Commissioner of the Philippines, “My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created”.</div> <div> </div> <div> He adds: “Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40–50% on 1990 levels, we would still have locked–in climate change and would still need to address the issue of loss and damage.”</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.', 'sortorder' => '1996', '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' => '2148', 'article_category_id' => '138', 'title' => 'World Applauds CA Elections', 'sub_title' => '', 'summary' => null, 'content' => '<div> The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div> <div> </div> <div> According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. “These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,” reads the statement. </div> <div> </div> <div> Similarly, neighbouring India also hailed the elections as free and fair. In a press statement, Indian Ministry of External Affairs said, “The successful conduct of free and fair elections in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal’s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.” Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.', 'sortorder' => '1995', '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' => '2147', 'article_category_id' => '138', 'title' => 'Ambassador Bodde Inaugurates US Embassy Book Bus', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div> <div> </div> <div> According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. "Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology," informed the release. The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals. </div> <div> </div> <div> The Book Bus is an expansion of the US Embassy’s seven American Corner libraries located throughout Nepal. "These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike," said the embassy. The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div> <div> </div> <div> With the help of a partner organization, Quixote’s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. Through the Book Bus, books will also be donated to young readers in English and Nepali.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.', 'sortorder' => '1994', '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' => '2097', 'article_category_id' => '138', 'title' => 'US Embassy Supports Kartik Nach', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests. "This unique form of storytelling through dance, started in the 17th century, has not been performed in its entirety since 1949. With the support of the US Embassy, in partnership with the Alliance for Ecotourism, the full Kartik Nach will be restored and documented," says the statement. </div> <div> </div> <div> The US Embassy’s support of Kartik Nach was made possible by a grant of $75,300 from the Ambassadors Fund for Cultural Preservation (AFCP). This is the Embassy’s first non-tangible cultural heritage project funded by AFCP in Nepal. The embassy hoped that the assistance and grant will revive the centuries-old tradition. The grant will assist the Kartik Nach Preservation Committee to restore the full form of the dance and to document and teach this cultural tradition to a new generation. </div> <div> </div> <div> The Kartik Nach festival is an eight-day long dance festival believed to have been introduced by King Siddhi Narsingh Malla in 1637 AD. It is a combination of traditional music and drama based on the story of Lord Narsimha, incarnation of Hindu god Vishnu. The dance will be performed each evening in the month of Kartik in Patan Durbar Square. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-11-12', '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 US Embassy hosted a preview of the time-honored Kartik Nach tradition on October 31, 2013. According to a press statement by the embassy, US Deputy Chief of Mission, John Carwile, inaugurated the performance. The event, held at the U.S. Embassy, brought together performers, Alliance for Ecotourism and Kartik Nach Preservation Committee members and other guests.', 'sortorder' => '1967', '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' => '2096', 'article_category_id' => '138', 'title' => 'Starting A Business In Nepal Becoming Faster And Easier: IFC', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> O<span style="font-size: 12px;">ver the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly. “This was achieved by reducing administrative processing times at the company registrar and establishing data links between agencies involved in the incorporation process,” states the report. </span></div> <div> </div> <div> The report entitled ‘Doing Business 2014: Understanding Regulations for Small and Medium-Size Enterprises’ ranks Nepal 105th out of 189 global economies. Nepal ranked 108th last year. In terms of helping create a better environment for local entrepreneurs, Nepal ranks third in the eight South Asian economies surveyed, surpassed only by Sri Lanka and Maldives. The country’s rank in Starting a Business topic is 97, compared to 103 in 2013. “A congenial business environment is important for Nepal’s economic growth”, said Val S. Bagatsing, IFC Resident Representative in Nepal. “We are encouraged by the rapid pace of reform in Nepal which will attract more investment and create jobs in the country.” The report benchmarks performance of economies in ten indicators: starting a business, availability of electricity, availability of credit, dealing with construction permits, property registration, protection of investors, tax provisions, trans-border trading, contract enforcements and resolving insolvency. </div> <div> </div> <div> The IFC report finds that South Asia leads the world in implementing business regulatory reforms in 2012/13. Six of eight economies in the region completed 11 reforms simplifying the process of starting a business, strengthening access to credit, or easing the process for paying taxes. Sri Lanka was the best performing economy in the South Asia region securing 85th position whereas India ranked 134th in the index followed by Bhutan (141) and Afghanistan (164). Similarly, Maldives, Pakistan and Bangladesh secured 95th, 110th and 130th positions respectively. </div> <div> </div> <div> Singapore tops the global ranking on the ease of doing business. Similarly, Hong Kong, China, New Zealand, United States, Denmark, Malaysia, Republic of Korea, Georgia, Norway, and the United Kingdom secured the top 10 spot of economies with the most business-friendly regulations. Meanwhile, Libya (187), Central African Republic (188) and Chad (189) were lowest ranking economies in the index. </div>', 'published' => true, 'created' => '2013-11-11', 'modified' => '2013-12-02', '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' => 'Over the past year, Nepal made rules and provisions that has made it much easier to start a new business, says a World Bank Group report. According to the report published by the International Finance Corporation (IFC) on 29th October, the administrative and processing time hassles at the Office of the Company Registrar (OCR) have been reduced significantly.', 'sortorder' => '1944', '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' => '2023', 'article_category_id' => '138', 'title' => 'Nepal To Achieve Mid-Range Economic Growth: WB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned. Similarly, the bank projected that public spending will pick up sharply in FY 2014, boosting the overall economy. </div> <div> </div> <div> The bank noted political instability as the major obstacle to achieve higher growth trajectory. "Political instability clouded the outlook in FY 2013 and remains the principal source of vulnerability going forward," states the report. "It is time for Nepal to shift its focus from politics to economics," said Johannes Zutt, World Bank Country Director for Nepal and Bangladesh in an interaction programme with journalists during the launch of the report on Thursday, “While the political process continues, it is important to focus on economic and development prospects." He mentioned that Nepal's current economic growth is not high enough to reduce poverty. "Nepal should achieve GDP growth of 7 - 9 per cent for sustainable economic growth," Zutt stressed. </div> <div> </div> <div> Despite the mid-range growth rate, the bank pointed out bottlenecks in access to modern energy, transportation and financial sector as hindrances to achieve higher growth trajectory. Regarding the recent foreign exchange rate volatility, the bank expressed that the depreciation of rupee should be taken as a cause for concern not as panic. "Fears of serious negative economic consequences are mostly exaggerated, although some specific groups and sectors of the economy might lose out," states the report. The bank suggested that Nepal should maintain the existing currency rate peg between Nepali rupee (NPR) and Indian rupee (INR). "Given the significant integration of the Nepali and Indian economies, the peg makes a lot of sense, any adjustment to the peg would sharply disturb the flow of goods and capital between the two countries by adding significant uncertainty to trans-border transaction," the report adds. </div> <div> </div> <div> Presenting the report, Aureilien Kruse, the Senior Country Economist at the World Bank's Nepal office termed rupee depreciation as an 'alignment' as it had appreciated above target levels. Kruse said that while the currency depreciation has pushed up Nepal's import bills and led to a rise in inflation rate, there are other benefitting factors too. "A depreciated rupee can be translated into stronger incomes from remittances and exports," he said. Though the bank didn't present any exact figure, Kruse projected the inflation in Nepal to remain at 'high single-digit' in coming FY as increasing fiscal expenditures and the upcoming elections will further push up the consumer price levels. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-11', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The World Bank has forecasted that Nepal is heading for a mid-range economic growth of 4 - 4.5 per cent in the fiscal year 2014. The major international lender said that with improvements in some macroeconomic indicators, Nepal's economy will continue to recover from last FY's meager 3.6 per cent growth. "Remittance will continue to support services sector growth and aggregate demand," the bank's latest Nepal Development Update report mentioned.', 'sortorder' => '1942', '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
