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			'title' => 'Indian PM Keen To Visit Nepal',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="Mannmohan Singh" src="/userfiles/images/np1(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 223px;" />Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Indian Prime Minister is very positive about the proposal and has said he will try his best to come in an official visit to Nepal before the General Election in India next month,&rdquo; said the PM. He also said that the visit was successful. This was PM Koirala&rsquo;s first foreign visit after assuming office. Addressing the BIMSTEC summit, PM Koirala had said the efforts of the BIMSTEC should be geared towards freeing the people from the poverty trap as this region confronts the formidable challenges of poverty.</div>
<div>
	&nbsp;</div>
<div>
	Before leaving Myanmar, PM Koirala had met with Burmese nationals of Nepali origin and the Nepali community in the country. At a program organised at the Nepali embassy, he called on the Nepali community to invest in Nepal in areas prioritised by government such as agriculture, hydropower, tourism and infrastructure.</div>',
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			'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' => 'Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting',
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			'article_category_id' => '140',
			'title' => 'BIMSTEC Members Agree To Expedite Trade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.</div>
<div>
	&nbsp;</div>
<div>
	The member states also reached agreements on Dispute Settlement Procedures and on Cooperation and Mutual Assistance in Customs Matters under the Framework Agreement on the BIMSTEC free trade area.</div>
<div>
	&nbsp;</div>
<div>
	The BIMSTEC Trade Negotiating Committee (TNC) would expedite the process to close the deal on Trade in Goods by the end of 2014, and to continue efforts for finalising the agreement on Services and Investments, said the declaration adopted by the member states.</div>
<div>
	&nbsp;</div>
<div>
	The Summit also agreed to enhance cooperation in expanding skills and technology base of the member states through collaborations and partnerships, targeting micro, small and medium level enterprises. It was also decided to accelerate efforts for early finalisation of the Memorandum of Understanding on the establishment of Bimstec Technology Transfer Facility.</div>
<div>
	&nbsp;</div>
<div>
	Lauding BIMSTEC&rsquo;s third Energy Ministerial Meet-2014 held in Nepal, the member states also stressed the need for enhancing regional cooperation in the energy sector while declaring Bhutan as the next stop for the fourth Bimstec Energy Ministerial Meet in 2015 and India&rsquo;s Bengaluru as the Bimstec Energy Centre.</div>
<div>
	&nbsp;</div>
<div>
	The meeting also reiterated the commitment to continue and enhance cooperation in the field of agriculture and decided to intensify efforts through joint research programmes to increase productivity. &ldquo;Resolve to enhance cooperation in environmental protection and sustainable development and promote capacity building in the area of disaster management,&rdquo; said the statement.</div>
<div>
	&nbsp;</div>
<div>
	The summit also reiterated the commitment to expand efforts to further people-to-people exchanges and linkages at various levels among the member states, including facilitating travels through the Bimstec Business Visa Scheme and Visa Exemption Scheme. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have also agreed to implement the Bimstec Poverty Plan of Action adopted at the second Bimstec Ministerial Meeting on Poverty Alleviation held in January 2012 in Nepal,&rdquo; the statement said, welcoming the Sri Lankan offer to host the third edition in the first half of 2014. The seven-member regional body also agreed to explore collaborative initiatives amongst the member states towards addressing the adverse impacts of climate change.</div>',
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			'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 Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.',
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		'Article' => array(
			'id' => '2696',
			'article_category_id' => '140',
			'title' => 'PM Off To Myanmar To Chair BIMSTEC',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the Ministry of Foreign Affairs, Prime Minister Koirala is scheduled to address the Summit which will be participated by the heads of State/Government of the Member States of BIMSTEC. &nbsp;Prior to the Summit, a Preparatory meeting took place on March 1. Similarly, a Senior Officials meeting and Ministerial Meeting will take place on March 2 and 3, respectively.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Summit and its related meetings will deliberate upon the various issues relating to the 14 priority areas identified under BIMSTEC cooperation, which include trade and investment, energy, poverty alleviation, transport and infrastructure, agriculture etc. The Summit will make some key decisions towards making the regional cooperation and collaboration more effective and productive. Nepal is a lead country in the area of poverty alleviation.</div>
<div>
	&nbsp;</div>
<div>
	During the Summit, three agreements regarding the establishment of the BIMSTEC Permanent Secretariat, Centre for Weather and Climate, and Cultural Industries Commission and BIMSTEC Cultural Industries Observatory will be signed by the Foreign/External Affairs Ministers in presence of the Heads of State/Government. The Summit will also endorse the nomination of Sumith Nakandala as the first Secretary General of the BIMSTEC Permanent Secretariat to be established in Dhaka, Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As per the system of alphabetical rotation and established practice, Nepal will assume the Chairmanship of BIMSTEC following the Third BIMSTEC Summit. It will have to shoulder the responsibility of the fourth summit. As Nepal will also assume the chairmanship of the SAARC after the 18th SAARC Summit to be held in Kathmandu, it will be an excellent opportunity for Nepal to demonstrate its capability in setting mission and vision for more effective regional cooperation for mutual benefits and contribute towards larger goals of regional integration, development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	On the sidelines of the Summit, the Prime Minister is also scheduled to meet with his counterparts from BIMSTEC Member Countries. The Prime Minister will also meet with the opposition leader of Myanmar, Daw Aung San Suu Kyi.&nbsp;</div>',
			'published' => true,
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			'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' => 'Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2698',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief ( 3 - 9 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Parliament Forms 81-member Special Committee on Security</strong></span></div>
<div>
	A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country. Members of the committee include Nepali Congress leaders Sher Bahadur Deuba and Ram Chandra Poudel, UML leaders Jhalanath Khanal, KP Oli and Madhav Kumar Nepal along with UCPN (Maoist) leaders Dr Baburam Bhattarai, Krishna Bahadur Mahara and Janardan Sharma, among others. Similarly, the Prime Minister, Home Minister, Defense Minister and three individuals nominated by the PM also remain the committee&rsquo;s members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Onsari Gharti Magar Elected CA Vice-chair</strong></span></div>
<div>
	UCPN (Maoist) lawmaker Onsari Gharti Magar was elected the Constituent Assembly vice-chairperson and Deputy Speaker of the Legislature-Parliament in an election on February 26. Magar received 484 votes, securing a clear majority out of the 489 votes cast. Her candidacy was proposed by UCPN (M) leader Krishna Bahadur Mahara and supported by Nepali Congress lawmaker Ananda Dhungana on Tuesday. Magar&rsquo;s only contender was Anuradha Thapa from Nepal Workers and Peasants Party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Koirala Expands Cabinet&nbsp;</strong></span></div>
<div>
	Two weeks after his election as the country&rsquo;s top executive, Prime Minister Sushil Koirala on Tuesday (February 25) expanded his two-member Cabinet, inducting 18 new ministers and one Minister of State. The new ministers include 10 from the major coalition partner CPN (UML) and nine from the Neplali Congress. &ldquo;With today&rsquo;s Cabinet expansion and UML&rsquo;s participation, the new coalition government will be a stable one,&rdquo; said Minendra Rijal, the newly appointed Minister for Information and Communications. Unlike the NC ministers, UML members are relatively new faces. Six UML ministers are not members of parliament. Gautam served as DPM and Home Minister twice, in 1997 in the Lokendra Bahadur Chand-led government and then in the Pushpa Kamal Dahal-led government in 2008.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;We will promulgate democratic statute within a year&rsquo;</strong></span></div>
<div>
	Newly elected Minister for Information and Communications Minendra Rijal said the Nepali Congress and CPN-UML will write a new constitution incorporating the views of entire Nepali people. Speaking at a felicitation programme in the Capital on February 26, Minister Rijal said the two parties have formed the government with a view to delivering the constitution within a year. Minister Rijal said, &ldquo;This government will be focused on constitution writing. No one can topple this government as it is formed by the two largest parties. We will come up with a democratic constitution incorporating the views of entire Nepali people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local elections in six months: Deputy PM Singh</strong></span></div>
<div>
	Deputy Prime Minister and Minister for Local Development, Prakash Man Singh has said that elections to the local bodies (DDCs, VDCs and municipalities) will be held within the next six months. Speaking at a programme in Kathmandu on Feb 27, Singh said the lack of people&rsquo;s representatives at the local bodies has increased hassles of the citizens in getting services from the government offices. &ldquo;We want to end the difficulty faced by people while receiving services from the local bodies. For this to happen, we need to conduct the local elections,&rdquo; Singh said.</div>',
			'published' => true,
			'created' => '2014-03-03',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country.',
			'sortorder' => '2538',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2697',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up ( 24 February - 2 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Nepal Pharma Expo-2014 Concluded</strong></span></div>
<div>
	Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo. &ldquo;Sustenance through Quality&rdquo; was the main theme of the expo. The three-day expo had participants from both national and international levels including 46 domestic and 45 international (India and Singapore) pharmaceutical companies, according to the organisers. Nepal is self reliant in some 77 different medicines, according to the APPON. Around 30,000 people visited the expo. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Revenue Collection up by 22 pc</strong></span></div>
<div>
	Revenue mobilisation by the government has increased by 22 per cent during the first seven months of the current fiscal year compared to the same period of the previous fiscal year. Revenue collection stood at Rs 188.9 billion in review period while same was recorded Rs 154.59 billion during the same period of the previous fiscal year. However, the revenue collection is below the target of Rs 192.37 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt to Form Task Force to Control Trade Deficit</strong></span></div>
<div>
	The government is set to form a high level task force to bring down increasing trade deficit. Preparations have been made to form a special task force to minimise the increasing import and maximize the decreasing export, said an official at the Office of the Prime Minister and Council of Ministers (OPMCM). According to the OPMCM, stakeholder ministries and departments have agreed for the same. The move will help to save the country&rsquo;s economy from further deterioration, said OPMCM Spokesperson Mahendra Kumar Thapa. The high level task force will have economists, experts and industrialists.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CII-FNCCI Reps Meet Prez Yadav, PM Koirala</strong></span></div>
<div>
	A delegation of the Confederation of Indian Industries (CII) led by its president Ajay S Shriram along with Nepali delegates from private sector held separate meetings with President Dr Ram Baran Yadav and newly elected Prime Minister Sushil Koirala on the bilateral trade, economic relations and investment between the two countries. During the meetings, the delegation said that the Indian investors are keen to make joint investment in employment generation, hydropower, commercial agriculture and tourism in Nepal. Shriram also urged the government to create the favourable environment for doing business in Nepal. &ldquo;Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and CII are also committed to work together for employment generation and economic development in the country.&rdquo; The CII delegation assured the Nepali authorities to convey the message of the Nepal government regarding joint investment in Nepal to the Indian investors. It also assured best support to boost the economic relationship between the two countries. FNCCI and CII have agreed to work together for trade and investment between Nepal and India, said FNCCI President Suraj Vaidya. &ldquo;Both sides have also agreed to host Nepal-India Economic Summit turn by turn every year.&rdquo; The CII delegation was in Kathmandu to participate in the &lsquo;Nepal Economic Summit 2014&rsquo; jointly organised by the government and the FNCCI.</div>',
			'published' => true,
			'created' => '2014-03-03',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo.',
			'sortorder' => '2537',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2695',
			'article_category_id' => '140',
			'title' => 'Nepal Economic Summit 2014 Concludes: Development Strategies For Energy, Tourism And Agriculture In ',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will work on adopting the Energy Development Strategy, Tourism Development Strategy and Agriculture Development Strategy within the next six months with appropriate action plans for respective stakeholder agencies,&rdquo; said Madhu Kumar Marasini, joint secretary at the finance ministry, while reading out the declaration named &ldquo;A Commitment to Economic Reform&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	The summit also committed to implement the second generation of economic reforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the summit vowed to move Nepal 10 notches up on the Doing Business Index by 2016. According to the declaration, the government and the private sector will identify and work with local and global investors to execute at least four different large-scale projects in tourism, hydropower and agriculture sectors to create at least 50,000 jobs by 2015.</div>
<div>
	&nbsp;</div>
<div>
	According to the declaration, both the private sector and the government will work to increase private sector investment in commercial agriculture by developing and implementing incentive mechanism for high value products where Nepal can have a competitive advantage. Similarly, to encourage innovation in energy supply and increase in private sector participation, the government has announced setting up an independent power trading company. The company will provide a platform for trading energy between individual consumers and suppliers, thereby reducing the fiscal burden of Nepal Electricity Authority.</div>',
			'published' => true,
			'created' => '2014-03-03',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.',
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		'Article' => array(
			'id' => '2665',
			'article_category_id' => '140',
			'title' => 'CIAA Made Focal Point  For Projects Of National Pride',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The focal point for the Projects of National Pride has been set up at the CIAA to monitor the progress of these projects,&rdquo; CIAA&rsquo;s technical expert Yogendra Kumar Rai told The Corporate. According to Rai, the chief of the focal point, which was constituted little more than two weeks ago, has started collecting information regarding all Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The task of the focal point is not to investigate but to expedite the works of these crucial projects,&rdquo; Rai said adding that the focal point would try to find a solution to the problems faced by the Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	Some of the most important infrastructure projects were announced as the Projects of National Pride when Dr Baburam Bhattarai was the prime minister. A booklet titled &lsquo;Economic Development and Prosperity&rsquo; published by the Ministry of Finance back then had listed 17 projects as the Projects of National Pride. Four new projects have been added to the list, taking the number of such projects to 21.</div>
<div>
	&nbsp;</div>
<div>
	The focal point at the CIAA is currently studying the files of the Melamchi Water Supply Project (MWSP), one of the Projects of National Pride, according to Sarojman Shakya, senior divisional engineer at CIAA. Started nearly 15 years ago, the project was targeted to complete in the current fiscal year. However, there is no possibility of the project, which has faced several hurdles so far, to complete in the current fiscal year.</div>',
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			'description' => 'The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2669',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (24 February - 2 March 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;New CA will own up past agreements&rsquo;&nbsp;</strong></span></div>
<div>
	<img alt="Subash Chandra Nembang" src="/userfiles/images/nb(1).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 121px; width: 110px;" />Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA. &ldquo;The previous CA has forged agreements on various issues and topics. Our responsibility is to own up those agreements and expedite the constitution drafting process,&rdquo; he told journalists after assuming his office at the Parliament Secretariat in Singha Durbar few hours after taking oath of office from President Dr Ram Baran Yadav on February &nbsp;18. Nembang was elected the CA chairperson unopposed by the 571-member CA on February 17. Nembang will also serve as the Speaker in Parliament. Vice President Parmananda Jha, Prime Minister Sushil Koirala, Acting Chief Justice Damodar Prasad Sharma, Minister Ram Sharan Mahat, heads of constitutional bodies, secretaries, heads of security bodies, among others, were present at the swearing-in ceremony. Nembang held the same post in the previous CA as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PM Hopeful of New Constitution Within a Year</strong></span></div>
<div>
	<img alt=" Sushil Koirala" src="/userfiles/images/nb1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 118px;" />Prime Minister Sushil Koirala has said that the government is committed to creating an atmosphere for promulgating a new constitution within a year. Stating that consensus among all political parties is needed to achieve the target of new constitution on time, Koirala said his government would strive for the same. Addressing the main celebrations organized on the occasion of 64th National Democracy Day on Falgun 7 (Feb 19), PM Koirala argued that commitments to civil rights and democratic norms and values will create a basis of mutual trust among the political parties. &ldquo;I am hopeful of the promulgation of a new constitution within &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;a year on the basis of political consensus,&rdquo; he added. It is inevitable to make the citizens empowered, educated, conscious, aware and prosperous for stability and institutional development of democracy, the Prime Minister said, adding that the country could be taken on the path of prosperity through economic, social and educational development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UP Chief Minister Visits Nepal</strong></span></div>
<div>
	<img alt="Akhilesh Yadav " src="/userfiles/images/nb2.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 110px;" />Uttar Pradesh (UP) Chief Minister Akhilesh Yadav arrived in Kathmandu on February 16 on a two-day official visit to Nepal. The chief executive of the bordering Indian state was accompanied by a delegation, including his uncle and Public Works Department Minister of Shivpal Singh Yadav. During his stay, he held meetings with President Dr Ram Baran Yadav and Prime Minister Sushil Koirala. He also held discussions with Nepali officials and ministers on border issues.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr Nepal Appointed PM&rsquo;s Economic Advisor</strong></span></div>
<div>
	<img alt="Dr Chiranjibi Nepal" src="/userfiles/images/nb3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 123px;" />Prime Minister Sushil Koirala has appointed economist Dr Chiranjibi Nepal as his economic advisor on February 19. Before being appointed the PM&rsquo;s economic advisor, Dr Nepal who is a proponent of free market economy was working as the chief economic advisor to the Ministry of Finance. Dr Nepal, who is the general secretary of Nepal Economic Association, an economists&rsquo; guild, has already served as the chief advisor to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Nepal Chamber of Commerce. Dr Nepal has his PhD on the relation of labour and economy and has been in the teaching profession for the past 28 years. He served as the executive chairman of the Securities Board of Nepal (SEBON) from 2007 to 2009. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
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			'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' => 'Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA.',
			'sortorder' => '2514',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2666',
			'article_category_id' => '140',
			'title' => 'Govt To Invest Rs 28.5 Bn  In 7 Agro Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The amount invested in these seven agricultural goods was too low. The demand of these goods has been increasing in the international market. That&rsquo;s why the government has decided to increase the investment in them,&rdquo; said Jaya Mukunda Khanal, secretary at the Ministry of Agricultural Development.</div>
<div>
	&nbsp;</div>
<div>
	The ministry has already invested in districts such as Dang, Surkhet, Banke and Bardiya to increase the production of lentils. Similarly, amount has been sent to districts like Ilam, Jhapa and Panchthar to increase the production of tea, coffee and cardamom.</div>
<div>
	&nbsp;</div>
<div>
	In last fiscal year, the Asian Development Bank, World Bank, and International Fund for Agriculture Development had provided $ 70.08 million, $ 120.80 million and $ 70.88 million, respectively, for the development of Nepal&rsquo;s agriculture sector.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-25',
			'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 government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.',
			'sortorder' => '2512',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2668',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (17 - 23 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>BoP Records Surplus of Rs 77.19 bn&nbsp;</strong></span></div>
<div>
	The overall Balance of Payments (BoP) recorded a surplus of Rs 77.19 billion during the first six months of the fiscal year 2013/14 compared to a surplus of Rs 7.77 billion during the same period of the previous fiscal year. According to the latest Current Macroeconomic Situation of Nepal published by Nepal Rastra Bank (NRB), the current account posted a surplus of Rs 55.02 billion in the review period compared to a surplus of Rs 4.41 billion in the same period of the previous year. The surplus in the current account was primarily due to an upsurge in service credit as well as high rate of growth of grants and workers&rsquo; remittances in the review period, said the central bank. The Free on Board (FoB)-based merchandise trade deficit increased by 24.7 percent to Rs 277.12 billion during the six months of 2013/14 while the same deficit had gone up by 27.9 percent in the same period of the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Rs 18.9 Bn FDI in Seven Months</strong></span></div>
<div>
	Foreign direct investment (FDI) in Nepal has reached Rs 18.9 billion during the first seven months of the current fiscal year. At a programme organised at the Prime Minister&rsquo;s Office on February 16, officials said that 135 projects of FDI have been approved during the period. The country received Rs 19.94 billion FDI in fiscal year 2012/13 and Rs 7.14 billion in the previous fiscal year. The number of projects receiving FDI has reached 2,787 so far, surpassing Rs 113 billion in investment. It is said that 186,789 people are employed in FDI projects. Investors from China, India, Japan, South Korea, the USA and the UK, among other countries are the FDI contributors in Nepal. Secretary at the Ministry of Finance, Shantaraj Subedi said that the ministry was ready to resolve the policy-level hassles to attract FDI. He said FDI alongside the domestic investment was needed for the country&rsquo;s development and the government would do the needful for the same. Secretary at the Ministry of Industry, Krishna Gyawali said that approval of the proposed Industrial Management Act, 2070 BS should not be delayed as well as Industrial Entrepreneurship Act 2049 BS and Foreign Investment and Technology Act, 2049 BS should be amended to match the needs of time.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Pvt Sector Seeks Representation in CA</strong></span></div>
<div>
	Private sector entrepreneurs and businessmen have sought their representation in the Constituent Assembly (CA). They have demanded that the government include representatives of the private sector in the list of 26 CA members to be nominated by the Cabinet. They put forward this demand at a programme organised in the Capital on Feb 19, arguing that the role of the private sector to propel the economy is significant. Speaking at the programme, vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pradeep Jung Pandey said that it was time for the political parties to live up to the commitments they have expressed in their election manifestos. &ldquo;This is a crucial time to realise the dreams shown in the election manifestos,&rdquo; he said, &ldquo;The private sector is ready if the government is.&rdquo; The Cabinet should not forget the private sector in the list of 26 CA members to be recommended to the President, he suggested. Speaking at the same programme, general secretary of National Business Initiative, Surendra Bir Malakar opined that the recent political changes had failed to give momentum to the national economy. He added that the economy had suffered in the absence of a stable government. &ldquo;The main priority at present is constitution making,&rdquo; he said, &ldquo;This, however, does not mean&nbsp;</div>
<div>
	that we should forget the country&rsquo;s economic agenda.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Saudi Fund to Invest Rs 3 bn in Budhi Ganga&nbsp;</strong></span></div>
<div>
	The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months. After the Fund showed interest in investing in the project, a Nepali delegation led by Dilli Bahadur Singh, director general of the Department of Electricity Development went to Saudi Arabia last Monday (Feb 17) to hold discussion with Fund officials. The two sides have signed preliminary documents for the loan. &ldquo;A loan agreement will be signed once the Board of Directors of the Saudi Fund and the Council of Ministers of Nepal endorse the decision,&rdquo; finance ministry Under Secretary Hari Prasad Pandey who was part of the Nepali delegation told The Corporate. The Kuwait Fund for Arab Economic Development has already signed a soft loan agreement of nearly Rs 1.8 billion for the project. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months.',
			'sortorder' => '2511',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2667',
			'article_category_id' => '140',
			'title' => 'Nepal Proposes To Host 18th SAARC Summit In November',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="SAARC" src="/userfiles/images/saarc.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 225px;" />Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The date for the Summit will be fixed later, after consultation with the member states. This is the third time that Nepal would be hosting a SAARC Summit. Earlier, Nepal had hosted the third and the 11th Summit of the regional body in Kathmandu in November 1987 and January 2002 respectively.</div>
<div>
	&nbsp;</div>
<div>
	The 17th Summit was held in Addu City of the Maldives in November 2011, where Nepal had committed to hosting the next Summit on rotation basis. Due to political upheavals in the Maldives the Council of Minister had not sat for more than two years, thus further delaying the Summit.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal',
			'sortorder' => '2510',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2601',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>Industrial Trade Fair Concludes</strong></span></div>
<div>
	The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers. The fair was jointly organised by the Federation of Nepal Cottage and Small Industry (FNCSI) and the Alternative Energy Promotion Centre (AEPC). There were 312 stalls at the fair, including 125 stalls related to renewable energy, 32 stalls of women entrepreneurs, 12 stalls of sustainable energy, 25 stalls of micro industries and eight stalls showcasing leather products. Local products like green tea, organic coffee, honey and wine were largest selling items at the fair, the organizers said. Likewise, handicrafts and renewable and alternative energy products also attracted crowds, according t them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WB Grant for Pro-poor Project</strong></span></div>
<div>
	The World Bank has agreed to provide a grant assistance of USD 2.75 million (approximately NRs 274 million) for the implementation of the Pro-poor Urban Regeneration Pilot Project under the Japan Social Development Fund, according to a press release issued by the Ministry of Finance. An agreement to this effect was signed on February 10. The objectives of the Project are to contribute to improving the living conditions of poor and vulnerable households in selected wards of the historic core of Lalitpur City by piloting urban regeneration activities; and demonstrate the feasibility of an integrated urban regeneration approach to decision-makers in the Kathmandu Valley. The project consists of four parts: (i) Participatory Action Plan for Pro-poor Urban Regeneration, (ii) Grant Facility for Pro-poor Urban Regeneration/Sub-grants; (iii) Community Awareness and Local Capacity Building for Pro-poor Urban Regeneration; and (iv) Project Management and Administration, Participatory Monitoring and Evaluation and Knowledge Dissemination. The Ministry of Urban Development will be implementing the project which will end in September 2017.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>&lsquo;Job creation critical for economic progress in Nepal&rsquo;</strong></span></div>
<div>
	The number of young people of working age in Nepal is currently increasing by 550,000 a year, and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people &ndash; who are currently largely under-employed, or trapped in vulnerable, low-paid jobs &ndash; to improve the growth prospects of the economy. The Least Developed Countries Report 2013, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that Nepal should put greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Asha Award: 40 Semifinalists Shortlisted</strong></span></div>
<div>
	Forty semifinalists have been selected for the second edition of Surya Nepal Asha Social Entrepreneurship Award. A total of 119 social entrepreneurs from 40 districts had applied for the award, according to a press release by Change Fusion Nepal, the organizer of the award. The semifinalists, who have made commendable contribution to social entrepreneurship, have been selected from 17 districts ranging from Panchthar to Dhankuta and Kailali to Bardiya. The semifinalists have contributed to social entrepreneurship through various sectors including health, agriculture, agro products, education, physical handicap, and human trafficking. The award will be given away on March 28 after a seven-member jury and a three-member advisory committee select the finalists from the 40 semifinalists. &nbsp; &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers.',
			'sortorder' => '2445',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2597',
			'article_category_id' => '140',
			'title' => 'ADB’s Additional $ 25 Mn Loan For Melamchi Tunnel',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Once completed, Melamchi tunnel will be a lifeline for the people of the Kathmandu Valley. The tunnel will not only bring the people of Kathmandu more clean water, but also support other downstream water supply and wastewater projects in the Kathmandu Valley,&rdquo; said FeiYue, Director of the Urban Development and Water Division in ADB&rsquo;s South Asia Department.</div>
<div>
	&nbsp;</div>
<div>
	ADB approved a restructured $137 million loan in February 2008 for the then $317 million MWSP but the completion of the project was delayed by political and economic uncertainties in Nepal, changes to the project design, and, most recently, the need to find a new contractor to complete the tunnel construction.</div>
<div>
	&nbsp;</div>
<div>
	ADB&rsquo;s additional funds, along with an extra $13.1 million from the Government of Nepal, means the overall cost is now estimated at $355.4 million.</div>
<div>
	&nbsp;</div>
<div>
	Under the project, CooperativaMuratori e Cementisti di Ravenna, an Italian construction firm, is contracted to complete the 27.5-kilometer Melamchi tunnel by the end of September 2016. The tunnel will take 170 million liters of water per day from the Melamchi River to Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	A water treatment plant, financed by the Japan International Cooperation Agency, is under construction in Sundarijal on the outskirts of Kathmandu that will treat the water brought through the Melamchi tunnel.</div>
<div>
	&nbsp;</div>
<div>
	In addition, improvements to the Kathmandu Valley water transmission and distribution network are underway with an $80 million ADB loan, made in 2011, to take water from the treatment plant to households and reduce water lost to leakages. ADB approved another $80 million loan in April 2013 to expand and rehabilitate the sewerage network and build wastewater treatment plants to deal with more than 90 million liters of wastewater per day in the Kathmandu Valley.</div>
<div>
	&nbsp;</div>
<div>
	As part of the overall Melamchi project, ADB is also promoting reforms in Nepal&rsquo;s urban water sector including creating an independent water management board, setting up an independent commission to regulate water tariffs, and establishing an autonomous company for water and wastewater service delivery in the Kathmandu Valley.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).',
			'sortorder' => '2444',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2600',
			'article_category_id' => '140',
			'title' => 'Karan Singh In Kathmandu',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Karan Singh" src="/userfiles/images/ks(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 114px;" />Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Singh, who is also a member of the Indian Rajya Sabha, is the first high-level Indian leader to visit Nepal after the second Constituent Assembly election. In his meeting with PM Koirala, Singh is reported to have conveyed the messages of Indian Prime Minister Dr Manmohan Singh and INC Chairperson Sonia Gandhi.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.',
			'sortorder' => '2443',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2599',
			'article_category_id' => '140',
			'title' => '‘UML Won’t Join Govt Even If Given Home Ministry’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. &ldquo;The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,&rdquo; Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.</div>
<div>
	&nbsp;</div>
<div>
	Poudel also said that his party&#39;s support to the NC-led government would depend on the government&#39;s performance. &quot;Our support will continue if the government does good work. If not, the support will be withdrawn,&quot; said he.</div>',
			'published' => true,
			'created' => '2014-02-18',
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			'description' => 'CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. “The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,” Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.',
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			'id' => '2739',
			'article_category_id' => '140',
			'title' => 'Indian PM Keen To Visit Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="Mannmohan Singh" src="/userfiles/images/np1(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 223px;" />Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Indian Prime Minister is very positive about the proposal and has said he will try his best to come in an official visit to Nepal before the General Election in India next month,&rdquo; said the PM. He also said that the visit was successful. This was PM Koirala&rsquo;s first foreign visit after assuming office. Addressing the BIMSTEC summit, PM Koirala had said the efforts of the BIMSTEC should be geared towards freeing the people from the poverty trap as this region confronts the formidable challenges of poverty.</div>
<div>
	&nbsp;</div>
<div>
	Before leaving Myanmar, PM Koirala had met with Burmese nationals of Nepali origin and the Nepali community in the country. At a program organised at the Nepali embassy, he called on the Nepali community to invest in Nepal in areas prioritised by government such as agriculture, hydropower, tourism and infrastructure.</div>',
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			'created' => '2014-03-10',
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			'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' => 'Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting',
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			'id' => '2738',
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			'title' => 'BIMSTEC Members Agree To Expedite Trade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.</div>
<div>
	&nbsp;</div>
<div>
	The member states also reached agreements on Dispute Settlement Procedures and on Cooperation and Mutual Assistance in Customs Matters under the Framework Agreement on the BIMSTEC free trade area.</div>
<div>
	&nbsp;</div>
<div>
	The BIMSTEC Trade Negotiating Committee (TNC) would expedite the process to close the deal on Trade in Goods by the end of 2014, and to continue efforts for finalising the agreement on Services and Investments, said the declaration adopted by the member states.</div>
<div>
	&nbsp;</div>
<div>
	The Summit also agreed to enhance cooperation in expanding skills and technology base of the member states through collaborations and partnerships, targeting micro, small and medium level enterprises. It was also decided to accelerate efforts for early finalisation of the Memorandum of Understanding on the establishment of Bimstec Technology Transfer Facility.</div>
<div>
	&nbsp;</div>
<div>
	Lauding BIMSTEC&rsquo;s third Energy Ministerial Meet-2014 held in Nepal, the member states also stressed the need for enhancing regional cooperation in the energy sector while declaring Bhutan as the next stop for the fourth Bimstec Energy Ministerial Meet in 2015 and India&rsquo;s Bengaluru as the Bimstec Energy Centre.</div>
<div>
	&nbsp;</div>
<div>
	The meeting also reiterated the commitment to continue and enhance cooperation in the field of agriculture and decided to intensify efforts through joint research programmes to increase productivity. &ldquo;Resolve to enhance cooperation in environmental protection and sustainable development and promote capacity building in the area of disaster management,&rdquo; said the statement.</div>
<div>
	&nbsp;</div>
<div>
	The summit also reiterated the commitment to expand efforts to further people-to-people exchanges and linkages at various levels among the member states, including facilitating travels through the Bimstec Business Visa Scheme and Visa Exemption Scheme. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have also agreed to implement the Bimstec Poverty Plan of Action adopted at the second Bimstec Ministerial Meeting on Poverty Alleviation held in January 2012 in Nepal,&rdquo; the statement said, welcoming the Sri Lankan offer to host the third edition in the first half of 2014. The seven-member regional body also agreed to explore collaborative initiatives amongst the member states towards addressing the adverse impacts of climate change.</div>',
			'published' => true,
			'created' => '2014-03-10',
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			'description' => 'The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.',
			'sortorder' => '2579',
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			'id' => '2696',
			'article_category_id' => '140',
			'title' => 'PM Off To Myanmar To Chair BIMSTEC',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the Ministry of Foreign Affairs, Prime Minister Koirala is scheduled to address the Summit which will be participated by the heads of State/Government of the Member States of BIMSTEC. &nbsp;Prior to the Summit, a Preparatory meeting took place on March 1. Similarly, a Senior Officials meeting and Ministerial Meeting will take place on March 2 and 3, respectively.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Summit and its related meetings will deliberate upon the various issues relating to the 14 priority areas identified under BIMSTEC cooperation, which include trade and investment, energy, poverty alleviation, transport and infrastructure, agriculture etc. The Summit will make some key decisions towards making the regional cooperation and collaboration more effective and productive. Nepal is a lead country in the area of poverty alleviation.</div>
<div>
	&nbsp;</div>
<div>
	During the Summit, three agreements regarding the establishment of the BIMSTEC Permanent Secretariat, Centre for Weather and Climate, and Cultural Industries Commission and BIMSTEC Cultural Industries Observatory will be signed by the Foreign/External Affairs Ministers in presence of the Heads of State/Government. The Summit will also endorse the nomination of Sumith Nakandala as the first Secretary General of the BIMSTEC Permanent Secretariat to be established in Dhaka, Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As per the system of alphabetical rotation and established practice, Nepal will assume the Chairmanship of BIMSTEC following the Third BIMSTEC Summit. It will have to shoulder the responsibility of the fourth summit. As Nepal will also assume the chairmanship of the SAARC after the 18th SAARC Summit to be held in Kathmandu, it will be an excellent opportunity for Nepal to demonstrate its capability in setting mission and vision for more effective regional cooperation for mutual benefits and contribute towards larger goals of regional integration, development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	On the sidelines of the Summit, the Prime Minister is also scheduled to meet with his counterparts from BIMSTEC Member Countries. The Prime Minister will also meet with the opposition leader of Myanmar, Daw Aung San Suu Kyi.&nbsp;</div>',
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			'description' => 'Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials.',
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		'Article' => array(
			'id' => '2698',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief ( 3 - 9 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Parliament Forms 81-member Special Committee on Security</strong></span></div>
<div>
	A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country. Members of the committee include Nepali Congress leaders Sher Bahadur Deuba and Ram Chandra Poudel, UML leaders Jhalanath Khanal, KP Oli and Madhav Kumar Nepal along with UCPN (Maoist) leaders Dr Baburam Bhattarai, Krishna Bahadur Mahara and Janardan Sharma, among others. Similarly, the Prime Minister, Home Minister, Defense Minister and three individuals nominated by the PM also remain the committee&rsquo;s members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Onsari Gharti Magar Elected CA Vice-chair</strong></span></div>
<div>
	UCPN (Maoist) lawmaker Onsari Gharti Magar was elected the Constituent Assembly vice-chairperson and Deputy Speaker of the Legislature-Parliament in an election on February 26. Magar received 484 votes, securing a clear majority out of the 489 votes cast. Her candidacy was proposed by UCPN (M) leader Krishna Bahadur Mahara and supported by Nepali Congress lawmaker Ananda Dhungana on Tuesday. Magar&rsquo;s only contender was Anuradha Thapa from Nepal Workers and Peasants Party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Koirala Expands Cabinet&nbsp;</strong></span></div>
<div>
	Two weeks after his election as the country&rsquo;s top executive, Prime Minister Sushil Koirala on Tuesday (February 25) expanded his two-member Cabinet, inducting 18 new ministers and one Minister of State. The new ministers include 10 from the major coalition partner CPN (UML) and nine from the Neplali Congress. &ldquo;With today&rsquo;s Cabinet expansion and UML&rsquo;s participation, the new coalition government will be a stable one,&rdquo; said Minendra Rijal, the newly appointed Minister for Information and Communications. Unlike the NC ministers, UML members are relatively new faces. Six UML ministers are not members of parliament. Gautam served as DPM and Home Minister twice, in 1997 in the Lokendra Bahadur Chand-led government and then in the Pushpa Kamal Dahal-led government in 2008.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;We will promulgate democratic statute within a year&rsquo;</strong></span></div>
<div>
	Newly elected Minister for Information and Communications Minendra Rijal said the Nepali Congress and CPN-UML will write a new constitution incorporating the views of entire Nepali people. Speaking at a felicitation programme in the Capital on February 26, Minister Rijal said the two parties have formed the government with a view to delivering the constitution within a year. Minister Rijal said, &ldquo;This government will be focused on constitution writing. No one can topple this government as it is formed by the two largest parties. We will come up with a democratic constitution incorporating the views of entire Nepali people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local elections in six months: Deputy PM Singh</strong></span></div>
<div>
	Deputy Prime Minister and Minister for Local Development, Prakash Man Singh has said that elections to the local bodies (DDCs, VDCs and municipalities) will be held within the next six months. Speaking at a programme in Kathmandu on Feb 27, Singh said the lack of people&rsquo;s representatives at the local bodies has increased hassles of the citizens in getting services from the government offices. &ldquo;We want to end the difficulty faced by people while receiving services from the local bodies. For this to happen, we need to conduct the local elections,&rdquo; Singh said.</div>',
			'published' => true,
			'created' => '2014-03-03',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country.',
			'sortorder' => '2538',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2697',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up ( 24 February - 2 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Nepal Pharma Expo-2014 Concluded</strong></span></div>
<div>
	Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo. &ldquo;Sustenance through Quality&rdquo; was the main theme of the expo. The three-day expo had participants from both national and international levels including 46 domestic and 45 international (India and Singapore) pharmaceutical companies, according to the organisers. Nepal is self reliant in some 77 different medicines, according to the APPON. Around 30,000 people visited the expo. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Revenue Collection up by 22 pc</strong></span></div>
<div>
	Revenue mobilisation by the government has increased by 22 per cent during the first seven months of the current fiscal year compared to the same period of the previous fiscal year. Revenue collection stood at Rs 188.9 billion in review period while same was recorded Rs 154.59 billion during the same period of the previous fiscal year. However, the revenue collection is below the target of Rs 192.37 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt to Form Task Force to Control Trade Deficit</strong></span></div>
<div>
	The government is set to form a high level task force to bring down increasing trade deficit. Preparations have been made to form a special task force to minimise the increasing import and maximize the decreasing export, said an official at the Office of the Prime Minister and Council of Ministers (OPMCM). According to the OPMCM, stakeholder ministries and departments have agreed for the same. The move will help to save the country&rsquo;s economy from further deterioration, said OPMCM Spokesperson Mahendra Kumar Thapa. The high level task force will have economists, experts and industrialists.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CII-FNCCI Reps Meet Prez Yadav, PM Koirala</strong></span></div>
<div>
	A delegation of the Confederation of Indian Industries (CII) led by its president Ajay S Shriram along with Nepali delegates from private sector held separate meetings with President Dr Ram Baran Yadav and newly elected Prime Minister Sushil Koirala on the bilateral trade, economic relations and investment between the two countries. During the meetings, the delegation said that the Indian investors are keen to make joint investment in employment generation, hydropower, commercial agriculture and tourism in Nepal. Shriram also urged the government to create the favourable environment for doing business in Nepal. &ldquo;Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and CII are also committed to work together for employment generation and economic development in the country.&rdquo; The CII delegation assured the Nepali authorities to convey the message of the Nepal government regarding joint investment in Nepal to the Indian investors. It also assured best support to boost the economic relationship between the two countries. FNCCI and CII have agreed to work together for trade and investment between Nepal and India, said FNCCI President Suraj Vaidya. &ldquo;Both sides have also agreed to host Nepal-India Economic Summit turn by turn every year.&rdquo; The CII delegation was in Kathmandu to participate in the &lsquo;Nepal Economic Summit 2014&rsquo; jointly organised by the government and the FNCCI.</div>',
			'published' => true,
			'created' => '2014-03-03',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo.',
			'sortorder' => '2537',
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		'Article' => array(
			'id' => '2695',
			'article_category_id' => '140',
			'title' => 'Nepal Economic Summit 2014 Concludes: Development Strategies For Energy, Tourism And Agriculture In ',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will work on adopting the Energy Development Strategy, Tourism Development Strategy and Agriculture Development Strategy within the next six months with appropriate action plans for respective stakeholder agencies,&rdquo; said Madhu Kumar Marasini, joint secretary at the finance ministry, while reading out the declaration named &ldquo;A Commitment to Economic Reform&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	The summit also committed to implement the second generation of economic reforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the summit vowed to move Nepal 10 notches up on the Doing Business Index by 2016. According to the declaration, the government and the private sector will identify and work with local and global investors to execute at least four different large-scale projects in tourism, hydropower and agriculture sectors to create at least 50,000 jobs by 2015.</div>
<div>
	&nbsp;</div>
<div>
	According to the declaration, both the private sector and the government will work to increase private sector investment in commercial agriculture by developing and implementing incentive mechanism for high value products where Nepal can have a competitive advantage. Similarly, to encourage innovation in energy supply and increase in private sector participation, the government has announced setting up an independent power trading company. The company will provide a platform for trading energy between individual consumers and suppliers, thereby reducing the fiscal burden of Nepal Electricity Authority.</div>',
			'published' => true,
			'created' => '2014-03-03',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.',
			'sortorder' => '2536',
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		'Article' => array(
			'id' => '2665',
			'article_category_id' => '140',
			'title' => 'CIAA Made Focal Point  For Projects Of National Pride',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The focal point for the Projects of National Pride has been set up at the CIAA to monitor the progress of these projects,&rdquo; CIAA&rsquo;s technical expert Yogendra Kumar Rai told The Corporate. According to Rai, the chief of the focal point, which was constituted little more than two weeks ago, has started collecting information regarding all Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The task of the focal point is not to investigate but to expedite the works of these crucial projects,&rdquo; Rai said adding that the focal point would try to find a solution to the problems faced by the Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	Some of the most important infrastructure projects were announced as the Projects of National Pride when Dr Baburam Bhattarai was the prime minister. A booklet titled &lsquo;Economic Development and Prosperity&rsquo; published by the Ministry of Finance back then had listed 17 projects as the Projects of National Pride. Four new projects have been added to the list, taking the number of such projects to 21.</div>
<div>
	&nbsp;</div>
<div>
	The focal point at the CIAA is currently studying the files of the Melamchi Water Supply Project (MWSP), one of the Projects of National Pride, according to Sarojman Shakya, senior divisional engineer at CIAA. Started nearly 15 years ago, the project was targeted to complete in the current fiscal year. However, there is no possibility of the project, which has faced several hurdles so far, to complete in the current fiscal year.</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects',
			'sortorder' => '2529',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2669',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (24 February - 2 March 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;New CA will own up past agreements&rsquo;&nbsp;</strong></span></div>
<div>
	<img alt="Subash Chandra Nembang" src="/userfiles/images/nb(1).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 121px; width: 110px;" />Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA. &ldquo;The previous CA has forged agreements on various issues and topics. Our responsibility is to own up those agreements and expedite the constitution drafting process,&rdquo; he told journalists after assuming his office at the Parliament Secretariat in Singha Durbar few hours after taking oath of office from President Dr Ram Baran Yadav on February &nbsp;18. Nembang was elected the CA chairperson unopposed by the 571-member CA on February 17. Nembang will also serve as the Speaker in Parliament. Vice President Parmananda Jha, Prime Minister Sushil Koirala, Acting Chief Justice Damodar Prasad Sharma, Minister Ram Sharan Mahat, heads of constitutional bodies, secretaries, heads of security bodies, among others, were present at the swearing-in ceremony. Nembang held the same post in the previous CA as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PM Hopeful of New Constitution Within a Year</strong></span></div>
<div>
	<img alt=" Sushil Koirala" src="/userfiles/images/nb1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 118px;" />Prime Minister Sushil Koirala has said that the government is committed to creating an atmosphere for promulgating a new constitution within a year. Stating that consensus among all political parties is needed to achieve the target of new constitution on time, Koirala said his government would strive for the same. Addressing the main celebrations organized on the occasion of 64th National Democracy Day on Falgun 7 (Feb 19), PM Koirala argued that commitments to civil rights and democratic norms and values will create a basis of mutual trust among the political parties. &ldquo;I am hopeful of the promulgation of a new constitution within &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;a year on the basis of political consensus,&rdquo; he added. It is inevitable to make the citizens empowered, educated, conscious, aware and prosperous for stability and institutional development of democracy, the Prime Minister said, adding that the country could be taken on the path of prosperity through economic, social and educational development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UP Chief Minister Visits Nepal</strong></span></div>
<div>
	<img alt="Akhilesh Yadav " src="/userfiles/images/nb2.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 110px;" />Uttar Pradesh (UP) Chief Minister Akhilesh Yadav arrived in Kathmandu on February 16 on a two-day official visit to Nepal. The chief executive of the bordering Indian state was accompanied by a delegation, including his uncle and Public Works Department Minister of Shivpal Singh Yadav. During his stay, he held meetings with President Dr Ram Baran Yadav and Prime Minister Sushil Koirala. He also held discussions with Nepali officials and ministers on border issues.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr Nepal Appointed PM&rsquo;s Economic Advisor</strong></span></div>
<div>
	<img alt="Dr Chiranjibi Nepal" src="/userfiles/images/nb3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 123px;" />Prime Minister Sushil Koirala has appointed economist Dr Chiranjibi Nepal as his economic advisor on February 19. Before being appointed the PM&rsquo;s economic advisor, Dr Nepal who is a proponent of free market economy was working as the chief economic advisor to the Ministry of Finance. Dr Nepal, who is the general secretary of Nepal Economic Association, an economists&rsquo; guild, has already served as the chief advisor to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Nepal Chamber of Commerce. Dr Nepal has his PhD on the relation of labour and economy and has been in the teaching profession for the past 28 years. He served as the executive chairman of the Securities Board of Nepal (SEBON) from 2007 to 2009. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-25',
			'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' => 'Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA.',
			'sortorder' => '2514',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2666',
			'article_category_id' => '140',
			'title' => 'Govt To Invest Rs 28.5 Bn  In 7 Agro Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The amount invested in these seven agricultural goods was too low. The demand of these goods has been increasing in the international market. That&rsquo;s why the government has decided to increase the investment in them,&rdquo; said Jaya Mukunda Khanal, secretary at the Ministry of Agricultural Development.</div>
<div>
	&nbsp;</div>
<div>
	The ministry has already invested in districts such as Dang, Surkhet, Banke and Bardiya to increase the production of lentils. Similarly, amount has been sent to districts like Ilam, Jhapa and Panchthar to increase the production of tea, coffee and cardamom.</div>
<div>
	&nbsp;</div>
<div>
	In last fiscal year, the Asian Development Bank, World Bank, and International Fund for Agriculture Development had provided $ 70.08 million, $ 120.80 million and $ 70.88 million, respectively, for the development of Nepal&rsquo;s agriculture sector.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-25',
			'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 government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.',
			'sortorder' => '2512',
			'image' => null,
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	(int) 9 => array(
		'Article' => array(
			'id' => '2668',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (17 - 23 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>BoP Records Surplus of Rs 77.19 bn&nbsp;</strong></span></div>
<div>
	The overall Balance of Payments (BoP) recorded a surplus of Rs 77.19 billion during the first six months of the fiscal year 2013/14 compared to a surplus of Rs 7.77 billion during the same period of the previous fiscal year. According to the latest Current Macroeconomic Situation of Nepal published by Nepal Rastra Bank (NRB), the current account posted a surplus of Rs 55.02 billion in the review period compared to a surplus of Rs 4.41 billion in the same period of the previous year. The surplus in the current account was primarily due to an upsurge in service credit as well as high rate of growth of grants and workers&rsquo; remittances in the review period, said the central bank. The Free on Board (FoB)-based merchandise trade deficit increased by 24.7 percent to Rs 277.12 billion during the six months of 2013/14 while the same deficit had gone up by 27.9 percent in the same period of the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Rs 18.9 Bn FDI in Seven Months</strong></span></div>
<div>
	Foreign direct investment (FDI) in Nepal has reached Rs 18.9 billion during the first seven months of the current fiscal year. At a programme organised at the Prime Minister&rsquo;s Office on February 16, officials said that 135 projects of FDI have been approved during the period. The country received Rs 19.94 billion FDI in fiscal year 2012/13 and Rs 7.14 billion in the previous fiscal year. The number of projects receiving FDI has reached 2,787 so far, surpassing Rs 113 billion in investment. It is said that 186,789 people are employed in FDI projects. Investors from China, India, Japan, South Korea, the USA and the UK, among other countries are the FDI contributors in Nepal. Secretary at the Ministry of Finance, Shantaraj Subedi said that the ministry was ready to resolve the policy-level hassles to attract FDI. He said FDI alongside the domestic investment was needed for the country&rsquo;s development and the government would do the needful for the same. Secretary at the Ministry of Industry, Krishna Gyawali said that approval of the proposed Industrial Management Act, 2070 BS should not be delayed as well as Industrial Entrepreneurship Act 2049 BS and Foreign Investment and Technology Act, 2049 BS should be amended to match the needs of time.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Pvt Sector Seeks Representation in CA</strong></span></div>
<div>
	Private sector entrepreneurs and businessmen have sought their representation in the Constituent Assembly (CA). They have demanded that the government include representatives of the private sector in the list of 26 CA members to be nominated by the Cabinet. They put forward this demand at a programme organised in the Capital on Feb 19, arguing that the role of the private sector to propel the economy is significant. Speaking at the programme, vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pradeep Jung Pandey said that it was time for the political parties to live up to the commitments they have expressed in their election manifestos. &ldquo;This is a crucial time to realise the dreams shown in the election manifestos,&rdquo; he said, &ldquo;The private sector is ready if the government is.&rdquo; The Cabinet should not forget the private sector in the list of 26 CA members to be recommended to the President, he suggested. Speaking at the same programme, general secretary of National Business Initiative, Surendra Bir Malakar opined that the recent political changes had failed to give momentum to the national economy. He added that the economy had suffered in the absence of a stable government. &ldquo;The main priority at present is constitution making,&rdquo; he said, &ldquo;This, however, does not mean&nbsp;</div>
<div>
	that we should forget the country&rsquo;s economic agenda.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Saudi Fund to Invest Rs 3 bn in Budhi Ganga&nbsp;</strong></span></div>
<div>
	The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months. After the Fund showed interest in investing in the project, a Nepali delegation led by Dilli Bahadur Singh, director general of the Department of Electricity Development went to Saudi Arabia last Monday (Feb 17) to hold discussion with Fund officials. The two sides have signed preliminary documents for the loan. &ldquo;A loan agreement will be signed once the Board of Directors of the Saudi Fund and the Council of Ministers of Nepal endorse the decision,&rdquo; finance ministry Under Secretary Hari Prasad Pandey who was part of the Nepali delegation told The Corporate. The Kuwait Fund for Arab Economic Development has already signed a soft loan agreement of nearly Rs 1.8 billion for the project. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months.',
			'sortorder' => '2511',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2667',
			'article_category_id' => '140',
			'title' => 'Nepal Proposes To Host 18th SAARC Summit In November',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="SAARC" src="/userfiles/images/saarc.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 225px;" />Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The date for the Summit will be fixed later, after consultation with the member states. This is the third time that Nepal would be hosting a SAARC Summit. Earlier, Nepal had hosted the third and the 11th Summit of the regional body in Kathmandu in November 1987 and January 2002 respectively.</div>
<div>
	&nbsp;</div>
<div>
	The 17th Summit was held in Addu City of the Maldives in November 2011, where Nepal had committed to hosting the next Summit on rotation basis. Due to political upheavals in the Maldives the Council of Minister had not sat for more than two years, thus further delaying the Summit.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal',
			'sortorder' => '2510',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '2601',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>Industrial Trade Fair Concludes</strong></span></div>
<div>
	The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers. The fair was jointly organised by the Federation of Nepal Cottage and Small Industry (FNCSI) and the Alternative Energy Promotion Centre (AEPC). There were 312 stalls at the fair, including 125 stalls related to renewable energy, 32 stalls of women entrepreneurs, 12 stalls of sustainable energy, 25 stalls of micro industries and eight stalls showcasing leather products. Local products like green tea, organic coffee, honey and wine were largest selling items at the fair, the organizers said. Likewise, handicrafts and renewable and alternative energy products also attracted crowds, according t them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WB Grant for Pro-poor Project</strong></span></div>
<div>
	The World Bank has agreed to provide a grant assistance of USD 2.75 million (approximately NRs 274 million) for the implementation of the Pro-poor Urban Regeneration Pilot Project under the Japan Social Development Fund, according to a press release issued by the Ministry of Finance. An agreement to this effect was signed on February 10. The objectives of the Project are to contribute to improving the living conditions of poor and vulnerable households in selected wards of the historic core of Lalitpur City by piloting urban regeneration activities; and demonstrate the feasibility of an integrated urban regeneration approach to decision-makers in the Kathmandu Valley. The project consists of four parts: (i) Participatory Action Plan for Pro-poor Urban Regeneration, (ii) Grant Facility for Pro-poor Urban Regeneration/Sub-grants; (iii) Community Awareness and Local Capacity Building for Pro-poor Urban Regeneration; and (iv) Project Management and Administration, Participatory Monitoring and Evaluation and Knowledge Dissemination. The Ministry of Urban Development will be implementing the project which will end in September 2017.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>&lsquo;Job creation critical for economic progress in Nepal&rsquo;</strong></span></div>
<div>
	The number of young people of working age in Nepal is currently increasing by 550,000 a year, and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people &ndash; who are currently largely under-employed, or trapped in vulnerable, low-paid jobs &ndash; to improve the growth prospects of the economy. The Least Developed Countries Report 2013, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that Nepal should put greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Asha Award: 40 Semifinalists Shortlisted</strong></span></div>
<div>
	Forty semifinalists have been selected for the second edition of Surya Nepal Asha Social Entrepreneurship Award. A total of 119 social entrepreneurs from 40 districts had applied for the award, according to a press release by Change Fusion Nepal, the organizer of the award. The semifinalists, who have made commendable contribution to social entrepreneurship, have been selected from 17 districts ranging from Panchthar to Dhankuta and Kailali to Bardiya. The semifinalists have contributed to social entrepreneurship through various sectors including health, agriculture, agro products, education, physical handicap, and human trafficking. The award will be given away on March 28 after a seven-member jury and a three-member advisory committee select the finalists from the 40 semifinalists. &nbsp; &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers.',
			'sortorder' => '2445',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2597',
			'article_category_id' => '140',
			'title' => 'ADB’s Additional $ 25 Mn Loan For Melamchi Tunnel',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Once completed, Melamchi tunnel will be a lifeline for the people of the Kathmandu Valley. The tunnel will not only bring the people of Kathmandu more clean water, but also support other downstream water supply and wastewater projects in the Kathmandu Valley,&rdquo; said FeiYue, Director of the Urban Development and Water Division in ADB&rsquo;s South Asia Department.</div>
<div>
	&nbsp;</div>
<div>
	ADB approved a restructured $137 million loan in February 2008 for the then $317 million MWSP but the completion of the project was delayed by political and economic uncertainties in Nepal, changes to the project design, and, most recently, the need to find a new contractor to complete the tunnel construction.</div>
<div>
	&nbsp;</div>
<div>
	ADB&rsquo;s additional funds, along with an extra $13.1 million from the Government of Nepal, means the overall cost is now estimated at $355.4 million.</div>
<div>
	&nbsp;</div>
<div>
	Under the project, CooperativaMuratori e Cementisti di Ravenna, an Italian construction firm, is contracted to complete the 27.5-kilometer Melamchi tunnel by the end of September 2016. The tunnel will take 170 million liters of water per day from the Melamchi River to Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	A water treatment plant, financed by the Japan International Cooperation Agency, is under construction in Sundarijal on the outskirts of Kathmandu that will treat the water brought through the Melamchi tunnel.</div>
<div>
	&nbsp;</div>
<div>
	In addition, improvements to the Kathmandu Valley water transmission and distribution network are underway with an $80 million ADB loan, made in 2011, to take water from the treatment plant to households and reduce water lost to leakages. ADB approved another $80 million loan in April 2013 to expand and rehabilitate the sewerage network and build wastewater treatment plants to deal with more than 90 million liters of wastewater per day in the Kathmandu Valley.</div>
<div>
	&nbsp;</div>
<div>
	As part of the overall Melamchi project, ADB is also promoting reforms in Nepal&rsquo;s urban water sector including creating an independent water management board, setting up an independent commission to regulate water tariffs, and establishing an autonomous company for water and wastewater service delivery in the Kathmandu Valley.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).',
			'sortorder' => '2444',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2600',
			'article_category_id' => '140',
			'title' => 'Karan Singh In Kathmandu',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Karan Singh" src="/userfiles/images/ks(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 114px;" />Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Singh, who is also a member of the Indian Rajya Sabha, is the first high-level Indian leader to visit Nepal after the second Constituent Assembly election. In his meeting with PM Koirala, Singh is reported to have conveyed the messages of Indian Prime Minister Dr Manmohan Singh and INC Chairperson Sonia Gandhi.</div>',
			'published' => true,
			'created' => '2014-02-18',
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			'description' => 'Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.',
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			'title' => '‘UML Won’t Join Govt Even If Given Home Ministry’',
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			'summary' => null,
			'content' => '<div>
	CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. &ldquo;The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,&rdquo; Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.</div>
<div>
	&nbsp;</div>
<div>
	Poudel also said that his party&#39;s support to the NC-led government would depend on the government&#39;s performance. &quot;Our support will continue if the government does good work. If not, the support will be withdrawn,&quot; said he.</div>',
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			'description' => 'CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. “The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,” Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.',
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			'id' => '2739',
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			'title' => 'Indian PM Keen To Visit Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="Mannmohan Singh" src="/userfiles/images/np1(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 223px;" />Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Indian Prime Minister is very positive about the proposal and has said he will try his best to come in an official visit to Nepal before the General Election in India next month,&rdquo; said the PM. He also said that the visit was successful. This was PM Koirala&rsquo;s first foreign visit after assuming office. Addressing the BIMSTEC summit, PM Koirala had said the efforts of the BIMSTEC should be geared towards freeing the people from the poverty trap as this region confronts the formidable challenges of poverty.</div>
<div>
	&nbsp;</div>
<div>
	Before leaving Myanmar, PM Koirala had met with Burmese nationals of Nepali origin and the Nepali community in the country. At a program organised at the Nepali embassy, he called on the Nepali community to invest in Nepal in areas prioritised by government such as agriculture, hydropower, tourism and infrastructure.</div>',
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			'created' => '2014-03-10',
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			'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' => 'Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting',
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			'title' => 'BIMSTEC Members Agree To Expedite Trade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.</div>
<div>
	&nbsp;</div>
<div>
	The member states also reached agreements on Dispute Settlement Procedures and on Cooperation and Mutual Assistance in Customs Matters under the Framework Agreement on the BIMSTEC free trade area.</div>
<div>
	&nbsp;</div>
<div>
	The BIMSTEC Trade Negotiating Committee (TNC) would expedite the process to close the deal on Trade in Goods by the end of 2014, and to continue efforts for finalising the agreement on Services and Investments, said the declaration adopted by the member states.</div>
<div>
	&nbsp;</div>
<div>
	The Summit also agreed to enhance cooperation in expanding skills and technology base of the member states through collaborations and partnerships, targeting micro, small and medium level enterprises. It was also decided to accelerate efforts for early finalisation of the Memorandum of Understanding on the establishment of Bimstec Technology Transfer Facility.</div>
<div>
	&nbsp;</div>
<div>
	Lauding BIMSTEC&rsquo;s third Energy Ministerial Meet-2014 held in Nepal, the member states also stressed the need for enhancing regional cooperation in the energy sector while declaring Bhutan as the next stop for the fourth Bimstec Energy Ministerial Meet in 2015 and India&rsquo;s Bengaluru as the Bimstec Energy Centre.</div>
<div>
	&nbsp;</div>
<div>
	The meeting also reiterated the commitment to continue and enhance cooperation in the field of agriculture and decided to intensify efforts through joint research programmes to increase productivity. &ldquo;Resolve to enhance cooperation in environmental protection and sustainable development and promote capacity building in the area of disaster management,&rdquo; said the statement.</div>
<div>
	&nbsp;</div>
<div>
	The summit also reiterated the commitment to expand efforts to further people-to-people exchanges and linkages at various levels among the member states, including facilitating travels through the Bimstec Business Visa Scheme and Visa Exemption Scheme. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have also agreed to implement the Bimstec Poverty Plan of Action adopted at the second Bimstec Ministerial Meeting on Poverty Alleviation held in January 2012 in Nepal,&rdquo; the statement said, welcoming the Sri Lankan offer to host the third edition in the first half of 2014. The seven-member regional body also agreed to explore collaborative initiatives amongst the member states towards addressing the adverse impacts of climate change.</div>',
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			'description' => 'The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.',
			'sortorder' => '2579',
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			'id' => '2696',
			'article_category_id' => '140',
			'title' => 'PM Off To Myanmar To Chair BIMSTEC',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the Ministry of Foreign Affairs, Prime Minister Koirala is scheduled to address the Summit which will be participated by the heads of State/Government of the Member States of BIMSTEC. &nbsp;Prior to the Summit, a Preparatory meeting took place on March 1. Similarly, a Senior Officials meeting and Ministerial Meeting will take place on March 2 and 3, respectively.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Summit and its related meetings will deliberate upon the various issues relating to the 14 priority areas identified under BIMSTEC cooperation, which include trade and investment, energy, poverty alleviation, transport and infrastructure, agriculture etc. The Summit will make some key decisions towards making the regional cooperation and collaboration more effective and productive. Nepal is a lead country in the area of poverty alleviation.</div>
<div>
	&nbsp;</div>
<div>
	During the Summit, three agreements regarding the establishment of the BIMSTEC Permanent Secretariat, Centre for Weather and Climate, and Cultural Industries Commission and BIMSTEC Cultural Industries Observatory will be signed by the Foreign/External Affairs Ministers in presence of the Heads of State/Government. The Summit will also endorse the nomination of Sumith Nakandala as the first Secretary General of the BIMSTEC Permanent Secretariat to be established in Dhaka, Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As per the system of alphabetical rotation and established practice, Nepal will assume the Chairmanship of BIMSTEC following the Third BIMSTEC Summit. It will have to shoulder the responsibility of the fourth summit. As Nepal will also assume the chairmanship of the SAARC after the 18th SAARC Summit to be held in Kathmandu, it will be an excellent opportunity for Nepal to demonstrate its capability in setting mission and vision for more effective regional cooperation for mutual benefits and contribute towards larger goals of regional integration, development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	On the sidelines of the Summit, the Prime Minister is also scheduled to meet with his counterparts from BIMSTEC Member Countries. The Prime Minister will also meet with the opposition leader of Myanmar, Daw Aung San Suu Kyi.&nbsp;</div>',
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			'description' => 'Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2698',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief ( 3 - 9 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Parliament Forms 81-member Special Committee on Security</strong></span></div>
<div>
	A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country. Members of the committee include Nepali Congress leaders Sher Bahadur Deuba and Ram Chandra Poudel, UML leaders Jhalanath Khanal, KP Oli and Madhav Kumar Nepal along with UCPN (Maoist) leaders Dr Baburam Bhattarai, Krishna Bahadur Mahara and Janardan Sharma, among others. Similarly, the Prime Minister, Home Minister, Defense Minister and three individuals nominated by the PM also remain the committee&rsquo;s members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Onsari Gharti Magar Elected CA Vice-chair</strong></span></div>
<div>
	UCPN (Maoist) lawmaker Onsari Gharti Magar was elected the Constituent Assembly vice-chairperson and Deputy Speaker of the Legislature-Parliament in an election on February 26. Magar received 484 votes, securing a clear majority out of the 489 votes cast. Her candidacy was proposed by UCPN (M) leader Krishna Bahadur Mahara and supported by Nepali Congress lawmaker Ananda Dhungana on Tuesday. Magar&rsquo;s only contender was Anuradha Thapa from Nepal Workers and Peasants Party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Koirala Expands Cabinet&nbsp;</strong></span></div>
<div>
	Two weeks after his election as the country&rsquo;s top executive, Prime Minister Sushil Koirala on Tuesday (February 25) expanded his two-member Cabinet, inducting 18 new ministers and one Minister of State. The new ministers include 10 from the major coalition partner CPN (UML) and nine from the Neplali Congress. &ldquo;With today&rsquo;s Cabinet expansion and UML&rsquo;s participation, the new coalition government will be a stable one,&rdquo; said Minendra Rijal, the newly appointed Minister for Information and Communications. Unlike the NC ministers, UML members are relatively new faces. Six UML ministers are not members of parliament. Gautam served as DPM and Home Minister twice, in 1997 in the Lokendra Bahadur Chand-led government and then in the Pushpa Kamal Dahal-led government in 2008.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;We will promulgate democratic statute within a year&rsquo;</strong></span></div>
<div>
	Newly elected Minister for Information and Communications Minendra Rijal said the Nepali Congress and CPN-UML will write a new constitution incorporating the views of entire Nepali people. Speaking at a felicitation programme in the Capital on February 26, Minister Rijal said the two parties have formed the government with a view to delivering the constitution within a year. Minister Rijal said, &ldquo;This government will be focused on constitution writing. No one can topple this government as it is formed by the two largest parties. We will come up with a democratic constitution incorporating the views of entire Nepali people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local elections in six months: Deputy PM Singh</strong></span></div>
<div>
	Deputy Prime Minister and Minister for Local Development, Prakash Man Singh has said that elections to the local bodies (DDCs, VDCs and municipalities) will be held within the next six months. Speaking at a programme in Kathmandu on Feb 27, Singh said the lack of people&rsquo;s representatives at the local bodies has increased hassles of the citizens in getting services from the government offices. &ldquo;We want to end the difficulty faced by people while receiving services from the local bodies. For this to happen, we need to conduct the local elections,&rdquo; Singh said.</div>',
			'published' => true,
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			'description' => 'A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country.',
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		'Article' => array(
			'id' => '2697',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up ( 24 February - 2 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Nepal Pharma Expo-2014 Concluded</strong></span></div>
<div>
	Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo. &ldquo;Sustenance through Quality&rdquo; was the main theme of the expo. The three-day expo had participants from both national and international levels including 46 domestic and 45 international (India and Singapore) pharmaceutical companies, according to the organisers. Nepal is self reliant in some 77 different medicines, according to the APPON. Around 30,000 people visited the expo. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Revenue Collection up by 22 pc</strong></span></div>
<div>
	Revenue mobilisation by the government has increased by 22 per cent during the first seven months of the current fiscal year compared to the same period of the previous fiscal year. Revenue collection stood at Rs 188.9 billion in review period while same was recorded Rs 154.59 billion during the same period of the previous fiscal year. However, the revenue collection is below the target of Rs 192.37 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt to Form Task Force to Control Trade Deficit</strong></span></div>
<div>
	The government is set to form a high level task force to bring down increasing trade deficit. Preparations have been made to form a special task force to minimise the increasing import and maximize the decreasing export, said an official at the Office of the Prime Minister and Council of Ministers (OPMCM). According to the OPMCM, stakeholder ministries and departments have agreed for the same. The move will help to save the country&rsquo;s economy from further deterioration, said OPMCM Spokesperson Mahendra Kumar Thapa. The high level task force will have economists, experts and industrialists.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CII-FNCCI Reps Meet Prez Yadav, PM Koirala</strong></span></div>
<div>
	A delegation of the Confederation of Indian Industries (CII) led by its president Ajay S Shriram along with Nepali delegates from private sector held separate meetings with President Dr Ram Baran Yadav and newly elected Prime Minister Sushil Koirala on the bilateral trade, economic relations and investment between the two countries. During the meetings, the delegation said that the Indian investors are keen to make joint investment in employment generation, hydropower, commercial agriculture and tourism in Nepal. Shriram also urged the government to create the favourable environment for doing business in Nepal. &ldquo;Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and CII are also committed to work together for employment generation and economic development in the country.&rdquo; The CII delegation assured the Nepali authorities to convey the message of the Nepal government regarding joint investment in Nepal to the Indian investors. It also assured best support to boost the economic relationship between the two countries. FNCCI and CII have agreed to work together for trade and investment between Nepal and India, said FNCCI President Suraj Vaidya. &ldquo;Both sides have also agreed to host Nepal-India Economic Summit turn by turn every year.&rdquo; The CII delegation was in Kathmandu to participate in the &lsquo;Nepal Economic Summit 2014&rsquo; jointly organised by the government and the FNCCI.</div>',
			'published' => true,
			'created' => '2014-03-03',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo.',
			'sortorder' => '2537',
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		'Article' => array(
			'id' => '2695',
			'article_category_id' => '140',
			'title' => 'Nepal Economic Summit 2014 Concludes: Development Strategies For Energy, Tourism And Agriculture In ',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will work on adopting the Energy Development Strategy, Tourism Development Strategy and Agriculture Development Strategy within the next six months with appropriate action plans for respective stakeholder agencies,&rdquo; said Madhu Kumar Marasini, joint secretary at the finance ministry, while reading out the declaration named &ldquo;A Commitment to Economic Reform&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	The summit also committed to implement the second generation of economic reforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the summit vowed to move Nepal 10 notches up on the Doing Business Index by 2016. According to the declaration, the government and the private sector will identify and work with local and global investors to execute at least four different large-scale projects in tourism, hydropower and agriculture sectors to create at least 50,000 jobs by 2015.</div>
<div>
	&nbsp;</div>
<div>
	According to the declaration, both the private sector and the government will work to increase private sector investment in commercial agriculture by developing and implementing incentive mechanism for high value products where Nepal can have a competitive advantage. Similarly, to encourage innovation in energy supply and increase in private sector participation, the government has announced setting up an independent power trading company. The company will provide a platform for trading energy between individual consumers and suppliers, thereby reducing the fiscal burden of Nepal Electricity Authority.</div>',
			'published' => true,
			'created' => '2014-03-03',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.',
			'sortorder' => '2536',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2665',
			'article_category_id' => '140',
			'title' => 'CIAA Made Focal Point  For Projects Of National Pride',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The focal point for the Projects of National Pride has been set up at the CIAA to monitor the progress of these projects,&rdquo; CIAA&rsquo;s technical expert Yogendra Kumar Rai told The Corporate. According to Rai, the chief of the focal point, which was constituted little more than two weeks ago, has started collecting information regarding all Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The task of the focal point is not to investigate but to expedite the works of these crucial projects,&rdquo; Rai said adding that the focal point would try to find a solution to the problems faced by the Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	Some of the most important infrastructure projects were announced as the Projects of National Pride when Dr Baburam Bhattarai was the prime minister. A booklet titled &lsquo;Economic Development and Prosperity&rsquo; published by the Ministry of Finance back then had listed 17 projects as the Projects of National Pride. Four new projects have been added to the list, taking the number of such projects to 21.</div>
<div>
	&nbsp;</div>
<div>
	The focal point at the CIAA is currently studying the files of the Melamchi Water Supply Project (MWSP), one of the Projects of National Pride, according to Sarojman Shakya, senior divisional engineer at CIAA. Started nearly 15 years ago, the project was targeted to complete in the current fiscal year. However, there is no possibility of the project, which has faced several hurdles so far, to complete in the current fiscal year.</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects',
			'sortorder' => '2529',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2669',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (24 February - 2 March 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;New CA will own up past agreements&rsquo;&nbsp;</strong></span></div>
<div>
	<img alt="Subash Chandra Nembang" src="/userfiles/images/nb(1).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 121px; width: 110px;" />Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA. &ldquo;The previous CA has forged agreements on various issues and topics. Our responsibility is to own up those agreements and expedite the constitution drafting process,&rdquo; he told journalists after assuming his office at the Parliament Secretariat in Singha Durbar few hours after taking oath of office from President Dr Ram Baran Yadav on February &nbsp;18. Nembang was elected the CA chairperson unopposed by the 571-member CA on February 17. Nembang will also serve as the Speaker in Parliament. Vice President Parmananda Jha, Prime Minister Sushil Koirala, Acting Chief Justice Damodar Prasad Sharma, Minister Ram Sharan Mahat, heads of constitutional bodies, secretaries, heads of security bodies, among others, were present at the swearing-in ceremony. Nembang held the same post in the previous CA as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PM Hopeful of New Constitution Within a Year</strong></span></div>
<div>
	<img alt=" Sushil Koirala" src="/userfiles/images/nb1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 118px;" />Prime Minister Sushil Koirala has said that the government is committed to creating an atmosphere for promulgating a new constitution within a year. Stating that consensus among all political parties is needed to achieve the target of new constitution on time, Koirala said his government would strive for the same. Addressing the main celebrations organized on the occasion of 64th National Democracy Day on Falgun 7 (Feb 19), PM Koirala argued that commitments to civil rights and democratic norms and values will create a basis of mutual trust among the political parties. &ldquo;I am hopeful of the promulgation of a new constitution within &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;a year on the basis of political consensus,&rdquo; he added. It is inevitable to make the citizens empowered, educated, conscious, aware and prosperous for stability and institutional development of democracy, the Prime Minister said, adding that the country could be taken on the path of prosperity through economic, social and educational development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UP Chief Minister Visits Nepal</strong></span></div>
<div>
	<img alt="Akhilesh Yadav " src="/userfiles/images/nb2.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 110px;" />Uttar Pradesh (UP) Chief Minister Akhilesh Yadav arrived in Kathmandu on February 16 on a two-day official visit to Nepal. The chief executive of the bordering Indian state was accompanied by a delegation, including his uncle and Public Works Department Minister of Shivpal Singh Yadav. During his stay, he held meetings with President Dr Ram Baran Yadav and Prime Minister Sushil Koirala. He also held discussions with Nepali officials and ministers on border issues.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr Nepal Appointed PM&rsquo;s Economic Advisor</strong></span></div>
<div>
	<img alt="Dr Chiranjibi Nepal" src="/userfiles/images/nb3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 123px;" />Prime Minister Sushil Koirala has appointed economist Dr Chiranjibi Nepal as his economic advisor on February 19. Before being appointed the PM&rsquo;s economic advisor, Dr Nepal who is a proponent of free market economy was working as the chief economic advisor to the Ministry of Finance. Dr Nepal, who is the general secretary of Nepal Economic Association, an economists&rsquo; guild, has already served as the chief advisor to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Nepal Chamber of Commerce. Dr Nepal has his PhD on the relation of labour and economy and has been in the teaching profession for the past 28 years. He served as the executive chairman of the Securities Board of Nepal (SEBON) from 2007 to 2009. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
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			'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' => 'Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA.',
			'sortorder' => '2514',
			'image' => null,
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	(int) 8 => array(
		'Article' => array(
			'id' => '2666',
			'article_category_id' => '140',
			'title' => 'Govt To Invest Rs 28.5 Bn  In 7 Agro Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The amount invested in these seven agricultural goods was too low. The demand of these goods has been increasing in the international market. That&rsquo;s why the government has decided to increase the investment in them,&rdquo; said Jaya Mukunda Khanal, secretary at the Ministry of Agricultural Development.</div>
<div>
	&nbsp;</div>
<div>
	The ministry has already invested in districts such as Dang, Surkhet, Banke and Bardiya to increase the production of lentils. Similarly, amount has been sent to districts like Ilam, Jhapa and Panchthar to increase the production of tea, coffee and cardamom.</div>
<div>
	&nbsp;</div>
<div>
	In last fiscal year, the Asian Development Bank, World Bank, and International Fund for Agriculture Development had provided $ 70.08 million, $ 120.80 million and $ 70.88 million, respectively, for the development of Nepal&rsquo;s agriculture sector.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-25',
			'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 government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.',
			'sortorder' => '2512',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2668',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (17 - 23 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>BoP Records Surplus of Rs 77.19 bn&nbsp;</strong></span></div>
<div>
	The overall Balance of Payments (BoP) recorded a surplus of Rs 77.19 billion during the first six months of the fiscal year 2013/14 compared to a surplus of Rs 7.77 billion during the same period of the previous fiscal year. According to the latest Current Macroeconomic Situation of Nepal published by Nepal Rastra Bank (NRB), the current account posted a surplus of Rs 55.02 billion in the review period compared to a surplus of Rs 4.41 billion in the same period of the previous year. The surplus in the current account was primarily due to an upsurge in service credit as well as high rate of growth of grants and workers&rsquo; remittances in the review period, said the central bank. The Free on Board (FoB)-based merchandise trade deficit increased by 24.7 percent to Rs 277.12 billion during the six months of 2013/14 while the same deficit had gone up by 27.9 percent in the same period of the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Rs 18.9 Bn FDI in Seven Months</strong></span></div>
<div>
	Foreign direct investment (FDI) in Nepal has reached Rs 18.9 billion during the first seven months of the current fiscal year. At a programme organised at the Prime Minister&rsquo;s Office on February 16, officials said that 135 projects of FDI have been approved during the period. The country received Rs 19.94 billion FDI in fiscal year 2012/13 and Rs 7.14 billion in the previous fiscal year. The number of projects receiving FDI has reached 2,787 so far, surpassing Rs 113 billion in investment. It is said that 186,789 people are employed in FDI projects. Investors from China, India, Japan, South Korea, the USA and the UK, among other countries are the FDI contributors in Nepal. Secretary at the Ministry of Finance, Shantaraj Subedi said that the ministry was ready to resolve the policy-level hassles to attract FDI. He said FDI alongside the domestic investment was needed for the country&rsquo;s development and the government would do the needful for the same. Secretary at the Ministry of Industry, Krishna Gyawali said that approval of the proposed Industrial Management Act, 2070 BS should not be delayed as well as Industrial Entrepreneurship Act 2049 BS and Foreign Investment and Technology Act, 2049 BS should be amended to match the needs of time.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Pvt Sector Seeks Representation in CA</strong></span></div>
<div>
	Private sector entrepreneurs and businessmen have sought their representation in the Constituent Assembly (CA). They have demanded that the government include representatives of the private sector in the list of 26 CA members to be nominated by the Cabinet. They put forward this demand at a programme organised in the Capital on Feb 19, arguing that the role of the private sector to propel the economy is significant. Speaking at the programme, vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pradeep Jung Pandey said that it was time for the political parties to live up to the commitments they have expressed in their election manifestos. &ldquo;This is a crucial time to realise the dreams shown in the election manifestos,&rdquo; he said, &ldquo;The private sector is ready if the government is.&rdquo; The Cabinet should not forget the private sector in the list of 26 CA members to be recommended to the President, he suggested. Speaking at the same programme, general secretary of National Business Initiative, Surendra Bir Malakar opined that the recent political changes had failed to give momentum to the national economy. He added that the economy had suffered in the absence of a stable government. &ldquo;The main priority at present is constitution making,&rdquo; he said, &ldquo;This, however, does not mean&nbsp;</div>
<div>
	that we should forget the country&rsquo;s economic agenda.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Saudi Fund to Invest Rs 3 bn in Budhi Ganga&nbsp;</strong></span></div>
<div>
	The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months. After the Fund showed interest in investing in the project, a Nepali delegation led by Dilli Bahadur Singh, director general of the Department of Electricity Development went to Saudi Arabia last Monday (Feb 17) to hold discussion with Fund officials. The two sides have signed preliminary documents for the loan. &ldquo;A loan agreement will be signed once the Board of Directors of the Saudi Fund and the Council of Ministers of Nepal endorse the decision,&rdquo; finance ministry Under Secretary Hari Prasad Pandey who was part of the Nepali delegation told The Corporate. The Kuwait Fund for Arab Economic Development has already signed a soft loan agreement of nearly Rs 1.8 billion for the project. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months.',
			'sortorder' => '2511',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2667',
			'article_category_id' => '140',
			'title' => 'Nepal Proposes To Host 18th SAARC Summit In November',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="SAARC" src="/userfiles/images/saarc.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 225px;" />Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The date for the Summit will be fixed later, after consultation with the member states. This is the third time that Nepal would be hosting a SAARC Summit. Earlier, Nepal had hosted the third and the 11th Summit of the regional body in Kathmandu in November 1987 and January 2002 respectively.</div>
<div>
	&nbsp;</div>
<div>
	The 17th Summit was held in Addu City of the Maldives in November 2011, where Nepal had committed to hosting the next Summit on rotation basis. Due to political upheavals in the Maldives the Council of Minister had not sat for more than two years, thus further delaying the Summit.</div>
<div>
	&nbsp;</div>',
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			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal',
			'sortorder' => '2510',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2601',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>Industrial Trade Fair Concludes</strong></span></div>
<div>
	The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers. The fair was jointly organised by the Federation of Nepal Cottage and Small Industry (FNCSI) and the Alternative Energy Promotion Centre (AEPC). There were 312 stalls at the fair, including 125 stalls related to renewable energy, 32 stalls of women entrepreneurs, 12 stalls of sustainable energy, 25 stalls of micro industries and eight stalls showcasing leather products. Local products like green tea, organic coffee, honey and wine were largest selling items at the fair, the organizers said. Likewise, handicrafts and renewable and alternative energy products also attracted crowds, according t them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WB Grant for Pro-poor Project</strong></span></div>
<div>
	The World Bank has agreed to provide a grant assistance of USD 2.75 million (approximately NRs 274 million) for the implementation of the Pro-poor Urban Regeneration Pilot Project under the Japan Social Development Fund, according to a press release issued by the Ministry of Finance. An agreement to this effect was signed on February 10. The objectives of the Project are to contribute to improving the living conditions of poor and vulnerable households in selected wards of the historic core of Lalitpur City by piloting urban regeneration activities; and demonstrate the feasibility of an integrated urban regeneration approach to decision-makers in the Kathmandu Valley. The project consists of four parts: (i) Participatory Action Plan for Pro-poor Urban Regeneration, (ii) Grant Facility for Pro-poor Urban Regeneration/Sub-grants; (iii) Community Awareness and Local Capacity Building for Pro-poor Urban Regeneration; and (iv) Project Management and Administration, Participatory Monitoring and Evaluation and Knowledge Dissemination. The Ministry of Urban Development will be implementing the project which will end in September 2017.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>&lsquo;Job creation critical for economic progress in Nepal&rsquo;</strong></span></div>
<div>
	The number of young people of working age in Nepal is currently increasing by 550,000 a year, and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people &ndash; who are currently largely under-employed, or trapped in vulnerable, low-paid jobs &ndash; to improve the growth prospects of the economy. The Least Developed Countries Report 2013, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that Nepal should put greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Asha Award: 40 Semifinalists Shortlisted</strong></span></div>
<div>
	Forty semifinalists have been selected for the second edition of Surya Nepal Asha Social Entrepreneurship Award. A total of 119 social entrepreneurs from 40 districts had applied for the award, according to a press release by Change Fusion Nepal, the organizer of the award. The semifinalists, who have made commendable contribution to social entrepreneurship, have been selected from 17 districts ranging from Panchthar to Dhankuta and Kailali to Bardiya. The semifinalists have contributed to social entrepreneurship through various sectors including health, agriculture, agro products, education, physical handicap, and human trafficking. The award will be given away on March 28 after a seven-member jury and a three-member advisory committee select the finalists from the 40 semifinalists. &nbsp; &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers.',
			'sortorder' => '2445',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2597',
			'article_category_id' => '140',
			'title' => 'ADB’s Additional $ 25 Mn Loan For Melamchi Tunnel',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Once completed, Melamchi tunnel will be a lifeline for the people of the Kathmandu Valley. The tunnel will not only bring the people of Kathmandu more clean water, but also support other downstream water supply and wastewater projects in the Kathmandu Valley,&rdquo; said FeiYue, Director of the Urban Development and Water Division in ADB&rsquo;s South Asia Department.</div>
<div>
	&nbsp;</div>
<div>
	ADB approved a restructured $137 million loan in February 2008 for the then $317 million MWSP but the completion of the project was delayed by political and economic uncertainties in Nepal, changes to the project design, and, most recently, the need to find a new contractor to complete the tunnel construction.</div>
<div>
	&nbsp;</div>
<div>
	ADB&rsquo;s additional funds, along with an extra $13.1 million from the Government of Nepal, means the overall cost is now estimated at $355.4 million.</div>
<div>
	&nbsp;</div>
<div>
	Under the project, CooperativaMuratori e Cementisti di Ravenna, an Italian construction firm, is contracted to complete the 27.5-kilometer Melamchi tunnel by the end of September 2016. The tunnel will take 170 million liters of water per day from the Melamchi River to Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	A water treatment plant, financed by the Japan International Cooperation Agency, is under construction in Sundarijal on the outskirts of Kathmandu that will treat the water brought through the Melamchi tunnel.</div>
<div>
	&nbsp;</div>
<div>
	In addition, improvements to the Kathmandu Valley water transmission and distribution network are underway with an $80 million ADB loan, made in 2011, to take water from the treatment plant to households and reduce water lost to leakages. ADB approved another $80 million loan in April 2013 to expand and rehabilitate the sewerage network and build wastewater treatment plants to deal with more than 90 million liters of wastewater per day in the Kathmandu Valley.</div>
<div>
	&nbsp;</div>
<div>
	As part of the overall Melamchi project, ADB is also promoting reforms in Nepal&rsquo;s urban water sector including creating an independent water management board, setting up an independent commission to regulate water tariffs, and establishing an autonomous company for water and wastewater service delivery in the Kathmandu Valley.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
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			'description' => 'The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).',
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			'title' => 'Karan Singh In Kathmandu',
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	<img alt="Karan Singh" src="/userfiles/images/ks(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 114px;" />Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Singh, who is also a member of the Indian Rajya Sabha, is the first high-level Indian leader to visit Nepal after the second Constituent Assembly election. In his meeting with PM Koirala, Singh is reported to have conveyed the messages of Indian Prime Minister Dr Manmohan Singh and INC Chairperson Sonia Gandhi.</div>',
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			'description' => 'Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.',
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			'title' => '‘UML Won’t Join Govt Even If Given Home Ministry’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. &ldquo;The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,&rdquo; Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.</div>
<div>
	&nbsp;</div>
<div>
	Poudel also said that his party&#39;s support to the NC-led government would depend on the government&#39;s performance. &quot;Our support will continue if the government does good work. If not, the support will be withdrawn,&quot; said he.</div>',
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			'description' => 'CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. “The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,” Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.',
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			'id' => '2739',
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			'title' => 'Indian PM Keen To Visit Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="Mannmohan Singh" src="/userfiles/images/np1(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 223px;" />Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Indian Prime Minister is very positive about the proposal and has said he will try his best to come in an official visit to Nepal before the General Election in India next month,&rdquo; said the PM. He also said that the visit was successful. This was PM Koirala&rsquo;s first foreign visit after assuming office. Addressing the BIMSTEC summit, PM Koirala had said the efforts of the BIMSTEC should be geared towards freeing the people from the poverty trap as this region confronts the formidable challenges of poverty.</div>
<div>
	&nbsp;</div>
<div>
	Before leaving Myanmar, PM Koirala had met with Burmese nationals of Nepali origin and the Nepali community in the country. At a program organised at the Nepali embassy, he called on the Nepali community to invest in Nepal in areas prioritised by government such as agriculture, hydropower, tourism and infrastructure.</div>',
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			'created' => '2014-03-10',
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			'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' => 'Indian Prime Minister Dr Manmohan Singh is positive about visiting Nepal. Dr Singh said so during a meeting with Prime Minister Sushil Koirala on the sidelines of the Third BIMSTEC Summit held in Nay Pyi Taw, the capital of Myanmar, last week. PM Koirala who returned home with the Chairmanship of BIMSTEC on Thursday (March 6) told a press conference at the Tribhuvan International Airport that he had extended a formal invitation to his Indian counterpart to visit Nepal during their meeting',
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			'id' => '2738',
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			'title' => 'BIMSTEC Members Agree To Expedite Trade',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.</div>
<div>
	&nbsp;</div>
<div>
	The member states also reached agreements on Dispute Settlement Procedures and on Cooperation and Mutual Assistance in Customs Matters under the Framework Agreement on the BIMSTEC free trade area.</div>
<div>
	&nbsp;</div>
<div>
	The BIMSTEC Trade Negotiating Committee (TNC) would expedite the process to close the deal on Trade in Goods by the end of 2014, and to continue efforts for finalising the agreement on Services and Investments, said the declaration adopted by the member states.</div>
<div>
	&nbsp;</div>
<div>
	The Summit also agreed to enhance cooperation in expanding skills and technology base of the member states through collaborations and partnerships, targeting micro, small and medium level enterprises. It was also decided to accelerate efforts for early finalisation of the Memorandum of Understanding on the establishment of Bimstec Technology Transfer Facility.</div>
<div>
	&nbsp;</div>
<div>
	Lauding BIMSTEC&rsquo;s third Energy Ministerial Meet-2014 held in Nepal, the member states also stressed the need for enhancing regional cooperation in the energy sector while declaring Bhutan as the next stop for the fourth Bimstec Energy Ministerial Meet in 2015 and India&rsquo;s Bengaluru as the Bimstec Energy Centre.</div>
<div>
	&nbsp;</div>
<div>
	The meeting also reiterated the commitment to continue and enhance cooperation in the field of agriculture and decided to intensify efforts through joint research programmes to increase productivity. &ldquo;Resolve to enhance cooperation in environmental protection and sustainable development and promote capacity building in the area of disaster management,&rdquo; said the statement.</div>
<div>
	&nbsp;</div>
<div>
	The summit also reiterated the commitment to expand efforts to further people-to-people exchanges and linkages at various levels among the member states, including facilitating travels through the Bimstec Business Visa Scheme and Visa Exemption Scheme. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have also agreed to implement the Bimstec Poverty Plan of Action adopted at the second Bimstec Ministerial Meeting on Poverty Alleviation held in January 2012 in Nepal,&rdquo; the statement said, welcoming the Sri Lankan offer to host the third edition in the first half of 2014. The seven-member regional body also agreed to explore collaborative initiatives amongst the member states towards addressing the adverse impacts of climate change.</div>',
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			'description' => 'The Third Summit of BIMSTEC concluded in Nay Pyi Taw, the capital of Myanmar, on March 4 with several key decisions, including one to finalise the draft Agreement on Trade in Goods as per the previously agreed General Rules of Origin and Product Specific Rules.',
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			'id' => '2696',
			'article_category_id' => '140',
			'title' => 'PM Off To Myanmar To Chair BIMSTEC',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the Ministry of Foreign Affairs, Prime Minister Koirala is scheduled to address the Summit which will be participated by the heads of State/Government of the Member States of BIMSTEC. &nbsp;Prior to the Summit, a Preparatory meeting took place on March 1. Similarly, a Senior Officials meeting and Ministerial Meeting will take place on March 2 and 3, respectively.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Summit and its related meetings will deliberate upon the various issues relating to the 14 priority areas identified under BIMSTEC cooperation, which include trade and investment, energy, poverty alleviation, transport and infrastructure, agriculture etc. The Summit will make some key decisions towards making the regional cooperation and collaboration more effective and productive. Nepal is a lead country in the area of poverty alleviation.</div>
<div>
	&nbsp;</div>
<div>
	During the Summit, three agreements regarding the establishment of the BIMSTEC Permanent Secretariat, Centre for Weather and Climate, and Cultural Industries Commission and BIMSTEC Cultural Industries Observatory will be signed by the Foreign/External Affairs Ministers in presence of the Heads of State/Government. The Summit will also endorse the nomination of Sumith Nakandala as the first Secretary General of the BIMSTEC Permanent Secretariat to be established in Dhaka, Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	As per the system of alphabetical rotation and established practice, Nepal will assume the Chairmanship of BIMSTEC following the Third BIMSTEC Summit. It will have to shoulder the responsibility of the fourth summit. As Nepal will also assume the chairmanship of the SAARC after the 18th SAARC Summit to be held in Kathmandu, it will be an excellent opportunity for Nepal to demonstrate its capability in setting mission and vision for more effective regional cooperation for mutual benefits and contribute towards larger goals of regional integration, development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	On the sidelines of the Summit, the Prime Minister is also scheduled to meet with his counterparts from BIMSTEC Member Countries. The Prime Minister will also meet with the opposition leader of Myanmar, Daw Aung San Suu Kyi.&nbsp;</div>',
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			'created' => '2014-03-03',
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			'description' => 'Prime Minister Sushil Koirala left for Myanmar on Sunday (March 2) leading a Nepali delegation to the Third BIMSTEC Summit that is being held in Nay Pyi Taw, on March 4. Te delegation includes Foreign Minister Mahendra Pandey, Foreign Policy Advisor to the Prime Minister, Dinesh Bhattarai Officiating Foreign Secretary and other senior government officials.',
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		'Article' => array(
			'id' => '2698',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief ( 3 - 9 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Parliament Forms 81-member Special Committee on Security</strong></span></div>
<div>
	A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country. Members of the committee include Nepali Congress leaders Sher Bahadur Deuba and Ram Chandra Poudel, UML leaders Jhalanath Khanal, KP Oli and Madhav Kumar Nepal along with UCPN (Maoist) leaders Dr Baburam Bhattarai, Krishna Bahadur Mahara and Janardan Sharma, among others. Similarly, the Prime Minister, Home Minister, Defense Minister and three individuals nominated by the PM also remain the committee&rsquo;s members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Onsari Gharti Magar Elected CA Vice-chair</strong></span></div>
<div>
	UCPN (Maoist) lawmaker Onsari Gharti Magar was elected the Constituent Assembly vice-chairperson and Deputy Speaker of the Legislature-Parliament in an election on February 26. Magar received 484 votes, securing a clear majority out of the 489 votes cast. Her candidacy was proposed by UCPN (M) leader Krishna Bahadur Mahara and supported by Nepali Congress lawmaker Ananda Dhungana on Tuesday. Magar&rsquo;s only contender was Anuradha Thapa from Nepal Workers and Peasants Party.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Koirala Expands Cabinet&nbsp;</strong></span></div>
<div>
	Two weeks after his election as the country&rsquo;s top executive, Prime Minister Sushil Koirala on Tuesday (February 25) expanded his two-member Cabinet, inducting 18 new ministers and one Minister of State. The new ministers include 10 from the major coalition partner CPN (UML) and nine from the Neplali Congress. &ldquo;With today&rsquo;s Cabinet expansion and UML&rsquo;s participation, the new coalition government will be a stable one,&rdquo; said Minendra Rijal, the newly appointed Minister for Information and Communications. Unlike the NC ministers, UML members are relatively new faces. Six UML ministers are not members of parliament. Gautam served as DPM and Home Minister twice, in 1997 in the Lokendra Bahadur Chand-led government and then in the Pushpa Kamal Dahal-led government in 2008.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;We will promulgate democratic statute within a year&rsquo;</strong></span></div>
<div>
	Newly elected Minister for Information and Communications Minendra Rijal said the Nepali Congress and CPN-UML will write a new constitution incorporating the views of entire Nepali people. Speaking at a felicitation programme in the Capital on February 26, Minister Rijal said the two parties have formed the government with a view to delivering the constitution within a year. Minister Rijal said, &ldquo;This government will be focused on constitution writing. No one can topple this government as it is formed by the two largest parties. We will come up with a democratic constitution incorporating the views of entire Nepali people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local elections in six months: Deputy PM Singh</strong></span></div>
<div>
	Deputy Prime Minister and Minister for Local Development, Prakash Man Singh has said that elections to the local bodies (DDCs, VDCs and municipalities) will be held within the next six months. Speaking at a programme in Kathmandu on Feb 27, Singh said the lack of people&rsquo;s representatives at the local bodies has increased hassles of the citizens in getting services from the government offices. &ldquo;We want to end the difficulty faced by people while receiving services from the local bodies. For this to happen, we need to conduct the local elections,&rdquo; Singh said.</div>',
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			'description' => 'A meeting of the Legislative-Parliament on February 24 decided to form an 81-member special committee that would work specifically on security issues of the country.',
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		'Article' => array(
			'id' => '2697',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up ( 24 February - 2 March 2014 )',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Nepal Pharma Expo-2014 Concluded</strong></span></div>
<div>
	Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo. &ldquo;Sustenance through Quality&rdquo; was the main theme of the expo. The three-day expo had participants from both national and international levels including 46 domestic and 45 international (India and Singapore) pharmaceutical companies, according to the organisers. Nepal is self reliant in some 77 different medicines, according to the APPON. Around 30,000 people visited the expo. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Revenue Collection up by 22 pc</strong></span></div>
<div>
	Revenue mobilisation by the government has increased by 22 per cent during the first seven months of the current fiscal year compared to the same period of the previous fiscal year. Revenue collection stood at Rs 188.9 billion in review period while same was recorded Rs 154.59 billion during the same period of the previous fiscal year. However, the revenue collection is below the target of Rs 192.37 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt to Form Task Force to Control Trade Deficit</strong></span></div>
<div>
	The government is set to form a high level task force to bring down increasing trade deficit. Preparations have been made to form a special task force to minimise the increasing import and maximize the decreasing export, said an official at the Office of the Prime Minister and Council of Ministers (OPMCM). According to the OPMCM, stakeholder ministries and departments have agreed for the same. The move will help to save the country&rsquo;s economy from further deterioration, said OPMCM Spokesperson Mahendra Kumar Thapa. The high level task force will have economists, experts and industrialists.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CII-FNCCI Reps Meet Prez Yadav, PM Koirala</strong></span></div>
<div>
	A delegation of the Confederation of Indian Industries (CII) led by its president Ajay S Shriram along with Nepali delegates from private sector held separate meetings with President Dr Ram Baran Yadav and newly elected Prime Minister Sushil Koirala on the bilateral trade, economic relations and investment between the two countries. During the meetings, the delegation said that the Indian investors are keen to make joint investment in employment generation, hydropower, commercial agriculture and tourism in Nepal. Shriram also urged the government to create the favourable environment for doing business in Nepal. &ldquo;Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and CII are also committed to work together for employment generation and economic development in the country.&rdquo; The CII delegation assured the Nepali authorities to convey the message of the Nepal government regarding joint investment in Nepal to the Indian investors. It also assured best support to boost the economic relationship between the two countries. FNCCI and CII have agreed to work together for trade and investment between Nepal and India, said FNCCI President Suraj Vaidya. &ldquo;Both sides have also agreed to host Nepal-India Economic Summit turn by turn every year.&rdquo; The CII delegation was in Kathmandu to participate in the &lsquo;Nepal Economic Summit 2014&rsquo; jointly organised by the government and the FNCCI.</div>',
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			'description' => 'Nepal Pharma Expo-2014 was held at Bhrikutimandap in the Capital from 28 February to 2 March. Association of Pharmaceutical Producers of Nepal (APPON), Department of Drug Administration, FNCCI, Nepal Pharmaceutical Association, Nepal Graduate Pharmacists Association among others were the organizers of the expo.',
			'sortorder' => '2537',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2695',
			'article_category_id' => '140',
			'title' => 'Nepal Economic Summit 2014 Concludes: Development Strategies For Energy, Tourism And Agriculture In ',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We will work on adopting the Energy Development Strategy, Tourism Development Strategy and Agriculture Development Strategy within the next six months with appropriate action plans for respective stakeholder agencies,&rdquo; said Madhu Kumar Marasini, joint secretary at the finance ministry, while reading out the declaration named &ldquo;A Commitment to Economic Reform&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	The summit also committed to implement the second generation of economic reforms.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, the summit vowed to move Nepal 10 notches up on the Doing Business Index by 2016. According to the declaration, the government and the private sector will identify and work with local and global investors to execute at least four different large-scale projects in tourism, hydropower and agriculture sectors to create at least 50,000 jobs by 2015.</div>
<div>
	&nbsp;</div>
<div>
	According to the declaration, both the private sector and the government will work to increase private sector investment in commercial agriculture by developing and implementing incentive mechanism for high value products where Nepal can have a competitive advantage. Similarly, to encourage innovation in energy supply and increase in private sector participation, the government has announced setting up an independent power trading company. The company will provide a platform for trading energy between individual consumers and suppliers, thereby reducing the fiscal burden of Nepal Electricity Authority.</div>',
			'published' => true,
			'created' => '2014-03-03',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Economic Summit 2014 which started in the capital on Monday (Feb 24) with the aim of attracting foreign investment to Nepal concluded on Wednesday (Feb 26), issuing a 19-point declaration. According to the declaration, the government and private sector will work together to formulate separate development strategies for energy, tourism and agriculture within the next six months. The move is aimed at achieving inclusive and broad-based economic growth.',
			'sortorder' => '2536',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2665',
			'article_category_id' => '140',
			'title' => 'CIAA Made Focal Point  For Projects Of National Pride',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The focal point for the Projects of National Pride has been set up at the CIAA to monitor the progress of these projects,&rdquo; CIAA&rsquo;s technical expert Yogendra Kumar Rai told The Corporate. According to Rai, the chief of the focal point, which was constituted little more than two weeks ago, has started collecting information regarding all Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The task of the focal point is not to investigate but to expedite the works of these crucial projects,&rdquo; Rai said adding that the focal point would try to find a solution to the problems faced by the Projects of National Pride.</div>
<div>
	&nbsp;</div>
<div>
	Some of the most important infrastructure projects were announced as the Projects of National Pride when Dr Baburam Bhattarai was the prime minister. A booklet titled &lsquo;Economic Development and Prosperity&rsquo; published by the Ministry of Finance back then had listed 17 projects as the Projects of National Pride. Four new projects have been added to the list, taking the number of such projects to 21.</div>
<div>
	&nbsp;</div>
<div>
	The focal point at the CIAA is currently studying the files of the Melamchi Water Supply Project (MWSP), one of the Projects of National Pride, according to Sarojman Shakya, senior divisional engineer at CIAA. Started nearly 15 years ago, the project was targeted to complete in the current fiscal year. However, there is no possibility of the project, which has faced several hurdles so far, to complete in the current fiscal year.</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-03-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government has set up a focal point at the Commission for the Investigation of Abuse of Authority (CIAA) for the Projects of National Pride. The aim behind the government move is to expedite the works of the ambitious projects',
			'sortorder' => '2529',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2669',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (24 February - 2 March 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;New CA will own up past agreements&rsquo;&nbsp;</strong></span></div>
<div>
	<img alt="Subash Chandra Nembang" src="/userfiles/images/nb(1).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 121px; width: 110px;" />Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA. &ldquo;The previous CA has forged agreements on various issues and topics. Our responsibility is to own up those agreements and expedite the constitution drafting process,&rdquo; he told journalists after assuming his office at the Parliament Secretariat in Singha Durbar few hours after taking oath of office from President Dr Ram Baran Yadav on February &nbsp;18. Nembang was elected the CA chairperson unopposed by the 571-member CA on February 17. Nembang will also serve as the Speaker in Parliament. Vice President Parmananda Jha, Prime Minister Sushil Koirala, Acting Chief Justice Damodar Prasad Sharma, Minister Ram Sharan Mahat, heads of constitutional bodies, secretaries, heads of security bodies, among others, were present at the swearing-in ceremony. Nembang held the same post in the previous CA as well.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>PM Hopeful of New Constitution Within a Year</strong></span></div>
<div>
	<img alt=" Sushil Koirala" src="/userfiles/images/nb1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 118px;" />Prime Minister Sushil Koirala has said that the government is committed to creating an atmosphere for promulgating a new constitution within a year. Stating that consensus among all political parties is needed to achieve the target of new constitution on time, Koirala said his government would strive for the same. Addressing the main celebrations organized on the occasion of 64th National Democracy Day on Falgun 7 (Feb 19), PM Koirala argued that commitments to civil rights and democratic norms and values will create a basis of mutual trust among the political parties. &ldquo;I am hopeful of the promulgation of a new constitution within &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;a year on the basis of political consensus,&rdquo; he added. It is inevitable to make the citizens empowered, educated, conscious, aware and prosperous for stability and institutional development of democracy, the Prime Minister said, adding that the country could be taken on the path of prosperity through economic, social and educational development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UP Chief Minister Visits Nepal</strong></span></div>
<div>
	<img alt="Akhilesh Yadav " src="/userfiles/images/nb2.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 110px;" />Uttar Pradesh (UP) Chief Minister Akhilesh Yadav arrived in Kathmandu on February 16 on a two-day official visit to Nepal. The chief executive of the bordering Indian state was accompanied by a delegation, including his uncle and Public Works Department Minister of Shivpal Singh Yadav. During his stay, he held meetings with President Dr Ram Baran Yadav and Prime Minister Sushil Koirala. He also held discussions with Nepali officials and ministers on border issues.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr Nepal Appointed PM&rsquo;s Economic Advisor</strong></span></div>
<div>
	<img alt="Dr Chiranjibi Nepal" src="/userfiles/images/nb3.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 110px; height: 123px;" />Prime Minister Sushil Koirala has appointed economist Dr Chiranjibi Nepal as his economic advisor on February 19. Before being appointed the PM&rsquo;s economic advisor, Dr Nepal who is a proponent of free market economy was working as the chief economic advisor to the Ministry of Finance. Dr Nepal, who is the general secretary of Nepal Economic Association, an economists&rsquo; guild, has already served as the chief advisor to the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Nepal Chamber of Commerce. Dr Nepal has his PhD on the relation of labour and economy and has been in the teaching profession for the past 28 years. He served as the executive chairman of the Securities Board of Nepal (SEBON) from 2007 to 2009. &nbsp;</div>',
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			'created' => '2014-02-24',
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			'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' => 'Newly appointed chairperson of the Constituent Assembly (CA), Subash Chandra Nembang has expressed commitment to take necessary initiative to ensure that the new CA took ownership of the agreements reached by the erstwhile CA.',
			'sortorder' => '2514',
			'image' => null,
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	(int) 8 => array(
		'Article' => array(
			'id' => '2666',
			'article_category_id' => '140',
			'title' => 'Govt To Invest Rs 28.5 Bn  In 7 Agro Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The amount invested in these seven agricultural goods was too low. The demand of these goods has been increasing in the international market. That&rsquo;s why the government has decided to increase the investment in them,&rdquo; said Jaya Mukunda Khanal, secretary at the Ministry of Agricultural Development.</div>
<div>
	&nbsp;</div>
<div>
	The ministry has already invested in districts such as Dang, Surkhet, Banke and Bardiya to increase the production of lentils. Similarly, amount has been sent to districts like Ilam, Jhapa and Panchthar to increase the production of tea, coffee and cardamom.</div>
<div>
	&nbsp;</div>
<div>
	In last fiscal year, the Asian Development Bank, World Bank, and International Fund for Agriculture Development had provided $ 70.08 million, $ 120.80 million and $ 70.88 million, respectively, for the development of Nepal&rsquo;s agriculture sector.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-25',
			'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 government has decided to inject an investment of Rs 28.53 billion to increase the production of seven agricultural products identified by Nepal Trade Integration Strategy (NTIS) 2010. Earlier, the government had invested only Rs 5 billion in the production of these commodities. The seven agricultural products are tea, ginger, honey, lentils, oil seeds, coffee and cardamom.',
			'sortorder' => '2512',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2668',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (17 - 23 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>BoP Records Surplus of Rs 77.19 bn&nbsp;</strong></span></div>
<div>
	The overall Balance of Payments (BoP) recorded a surplus of Rs 77.19 billion during the first six months of the fiscal year 2013/14 compared to a surplus of Rs 7.77 billion during the same period of the previous fiscal year. According to the latest Current Macroeconomic Situation of Nepal published by Nepal Rastra Bank (NRB), the current account posted a surplus of Rs 55.02 billion in the review period compared to a surplus of Rs 4.41 billion in the same period of the previous year. The surplus in the current account was primarily due to an upsurge in service credit as well as high rate of growth of grants and workers&rsquo; remittances in the review period, said the central bank. The Free on Board (FoB)-based merchandise trade deficit increased by 24.7 percent to Rs 277.12 billion during the six months of 2013/14 while the same deficit had gone up by 27.9 percent in the same period of the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Rs 18.9 Bn FDI in Seven Months</strong></span></div>
<div>
	Foreign direct investment (FDI) in Nepal has reached Rs 18.9 billion during the first seven months of the current fiscal year. At a programme organised at the Prime Minister&rsquo;s Office on February 16, officials said that 135 projects of FDI have been approved during the period. The country received Rs 19.94 billion FDI in fiscal year 2012/13 and Rs 7.14 billion in the previous fiscal year. The number of projects receiving FDI has reached 2,787 so far, surpassing Rs 113 billion in investment. It is said that 186,789 people are employed in FDI projects. Investors from China, India, Japan, South Korea, the USA and the UK, among other countries are the FDI contributors in Nepal. Secretary at the Ministry of Finance, Shantaraj Subedi said that the ministry was ready to resolve the policy-level hassles to attract FDI. He said FDI alongside the domestic investment was needed for the country&rsquo;s development and the government would do the needful for the same. Secretary at the Ministry of Industry, Krishna Gyawali said that approval of the proposed Industrial Management Act, 2070 BS should not be delayed as well as Industrial Entrepreneurship Act 2049 BS and Foreign Investment and Technology Act, 2049 BS should be amended to match the needs of time.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Pvt Sector Seeks Representation in CA</strong></span></div>
<div>
	Private sector entrepreneurs and businessmen have sought their representation in the Constituent Assembly (CA). They have demanded that the government include representatives of the private sector in the list of 26 CA members to be nominated by the Cabinet. They put forward this demand at a programme organised in the Capital on Feb 19, arguing that the role of the private sector to propel the economy is significant. Speaking at the programme, vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pradeep Jung Pandey said that it was time for the political parties to live up to the commitments they have expressed in their election manifestos. &ldquo;This is a crucial time to realise the dreams shown in the election manifestos,&rdquo; he said, &ldquo;The private sector is ready if the government is.&rdquo; The Cabinet should not forget the private sector in the list of 26 CA members to be recommended to the President, he suggested. Speaking at the same programme, general secretary of National Business Initiative, Surendra Bir Malakar opined that the recent political changes had failed to give momentum to the national economy. He added that the economy had suffered in the absence of a stable government. &ldquo;The main priority at present is constitution making,&rdquo; he said, &ldquo;This, however, does not mean&nbsp;</div>
<div>
	that we should forget the country&rsquo;s economic agenda.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Saudi Fund to Invest Rs 3 bn in Budhi Ganga&nbsp;</strong></span></div>
<div>
	The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months. After the Fund showed interest in investing in the project, a Nepali delegation led by Dilli Bahadur Singh, director general of the Department of Electricity Development went to Saudi Arabia last Monday (Feb 17) to hold discussion with Fund officials. The two sides have signed preliminary documents for the loan. &ldquo;A loan agreement will be signed once the Board of Directors of the Saudi Fund and the Council of Ministers of Nepal endorse the decision,&rdquo; finance ministry Under Secretary Hari Prasad Pandey who was part of the Nepali delegation told The Corporate. The Kuwait Fund for Arab Economic Development has already signed a soft loan agreement of nearly Rs 1.8 billion for the project. &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-24',
			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Saudi Fund will be investing about Rs 3 billion in the 20MW Budhi Ganga Hydropower Project. According to Subarna Lal Shrestha, chief of the project, the Fund has already okayed the loan and a loan agreement will be signed over the next 3-4 months.',
			'sortorder' => '2511',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2667',
			'article_category_id' => '140',
			'title' => 'Nepal Proposes To Host 18th SAARC Summit In November',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<img alt="SAARC" src="/userfiles/images/saarc.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 225px;" />Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The date for the Summit will be fixed later, after consultation with the member states. This is the third time that Nepal would be hosting a SAARC Summit. Earlier, Nepal had hosted the third and the 11th Summit of the regional body in Kathmandu in November 1987 and January 2002 respectively.</div>
<div>
	&nbsp;</div>
<div>
	The 17th Summit was held in Addu City of the Maldives in November 2011, where Nepal had committed to hosting the next Summit on rotation basis. Due to political upheavals in the Maldives the Council of Minister had not sat for more than two years, thus further delaying the Summit.</div>
<div>
	&nbsp;</div>',
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			'modified' => '2014-02-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal has formally proposed to host the 18th South Asian Association for Regional Cooperation (SAARC) Summit in Kathmandu in November 2014. Nepal made the proposal during the 35th meeting of SAARC Council of Ministers that concluded in Bandos Island of the Maldives on February 20. All other SAARC member states, namely Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan and Sri Lanka welcomed the proposal',
			'sortorder' => '2510',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2601',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;"><strong>Industrial Trade Fair Concludes</strong></span></div>
<div>
	The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers. The fair was jointly organised by the Federation of Nepal Cottage and Small Industry (FNCSI) and the Alternative Energy Promotion Centre (AEPC). There were 312 stalls at the fair, including 125 stalls related to renewable energy, 32 stalls of women entrepreneurs, 12 stalls of sustainable energy, 25 stalls of micro industries and eight stalls showcasing leather products. Local products like green tea, organic coffee, honey and wine were largest selling items at the fair, the organizers said. Likewise, handicrafts and renewable and alternative energy products also attracted crowds, according t them.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WB Grant for Pro-poor Project</strong></span></div>
<div>
	The World Bank has agreed to provide a grant assistance of USD 2.75 million (approximately NRs 274 million) for the implementation of the Pro-poor Urban Regeneration Pilot Project under the Japan Social Development Fund, according to a press release issued by the Ministry of Finance. An agreement to this effect was signed on February 10. The objectives of the Project are to contribute to improving the living conditions of poor and vulnerable households in selected wards of the historic core of Lalitpur City by piloting urban regeneration activities; and demonstrate the feasibility of an integrated urban regeneration approach to decision-makers in the Kathmandu Valley. The project consists of four parts: (i) Participatory Action Plan for Pro-poor Urban Regeneration, (ii) Grant Facility for Pro-poor Urban Regeneration/Sub-grants; (iii) Community Awareness and Local Capacity Building for Pro-poor Urban Regeneration; and (iv) Project Management and Administration, Participatory Monitoring and Evaluation and Knowledge Dissemination. The Ministry of Urban Development will be implementing the project which will end in September 2017.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>&lsquo;Job creation critical for economic progress in Nepal&rsquo;</strong></span></div>
<div>
	The number of young people of working age in Nepal is currently increasing by 550,000 a year, and by 2020 it will climb to 633,000 a year, a new UNCTAD publication reports. The organization recommends that the new government should rethink its growth strategy to ensure that growth creates employment opportunities for the young people &ndash; who are currently largely under-employed, or trapped in vulnerable, low-paid jobs &ndash; to improve the growth prospects of the economy. The Least Developed Countries Report 2013, subtitled Growth with Employment for Inclusive and Sustainable Development, urges that Nepal should put greater policy emphasis on employment generation as a central development objective. It cautions that otherwise, international migration or social and political instability may rise.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Asha Award: 40 Semifinalists Shortlisted</strong></span></div>
<div>
	Forty semifinalists have been selected for the second edition of Surya Nepal Asha Social Entrepreneurship Award. A total of 119 social entrepreneurs from 40 districts had applied for the award, according to a press release by Change Fusion Nepal, the organizer of the award. The semifinalists, who have made commendable contribution to social entrepreneurship, have been selected from 17 districts ranging from Panchthar to Dhankuta and Kailali to Bardiya. The semifinalists have contributed to social entrepreneurship through various sectors including health, agriculture, agro products, education, physical handicap, and human trafficking. The award will be given away on March 28 after a seven-member jury and a three-member advisory committee select the finalists from the 40 semifinalists. &nbsp; &nbsp;</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The 12th edition of the National Industrial Trade Fair, Cottage Industry Festival and Renewable Energy Week 2014 concluded in the capital on Feb 10. More than 225,000 visitors attended the fair which saw a business transaction of around Rs 125 million, according to the organizers.',
			'sortorder' => '2445',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2597',
			'article_category_id' => '140',
			'title' => 'ADB’s Additional $ 25 Mn Loan For Melamchi Tunnel',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Once completed, Melamchi tunnel will be a lifeline for the people of the Kathmandu Valley. The tunnel will not only bring the people of Kathmandu more clean water, but also support other downstream water supply and wastewater projects in the Kathmandu Valley,&rdquo; said FeiYue, Director of the Urban Development and Water Division in ADB&rsquo;s South Asia Department.</div>
<div>
	&nbsp;</div>
<div>
	ADB approved a restructured $137 million loan in February 2008 for the then $317 million MWSP but the completion of the project was delayed by political and economic uncertainties in Nepal, changes to the project design, and, most recently, the need to find a new contractor to complete the tunnel construction.</div>
<div>
	&nbsp;</div>
<div>
	ADB&rsquo;s additional funds, along with an extra $13.1 million from the Government of Nepal, means the overall cost is now estimated at $355.4 million.</div>
<div>
	&nbsp;</div>
<div>
	Under the project, CooperativaMuratori e Cementisti di Ravenna, an Italian construction firm, is contracted to complete the 27.5-kilometer Melamchi tunnel by the end of September 2016. The tunnel will take 170 million liters of water per day from the Melamchi River to Kathmandu.</div>
<div>
	&nbsp;</div>
<div>
	A water treatment plant, financed by the Japan International Cooperation Agency, is under construction in Sundarijal on the outskirts of Kathmandu that will treat the water brought through the Melamchi tunnel.</div>
<div>
	&nbsp;</div>
<div>
	In addition, improvements to the Kathmandu Valley water transmission and distribution network are underway with an $80 million ADB loan, made in 2011, to take water from the treatment plant to households and reduce water lost to leakages. ADB approved another $80 million loan in April 2013 to expand and rehabilitate the sewerage network and build wastewater treatment plants to deal with more than 90 million liters of wastewater per day in the Kathmandu Valley.</div>
<div>
	&nbsp;</div>
<div>
	As part of the overall Melamchi project, ADB is also promoting reforms in Nepal&rsquo;s urban water sector including creating an independent water management board, setting up an independent commission to regulate water tariffs, and establishing an autonomous company for water and wastewater service delivery in the Kathmandu Valley.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank (ADB) has agreed to provide an additional $25 million loan to Nepal to complete the tunnel of the Melamchi Water Supply Project (MWSP).',
			'sortorder' => '2444',
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		'Article' => array(
			'id' => '2600',
			'article_category_id' => '140',
			'title' => 'Karan Singh In Kathmandu',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Karan Singh" src="/userfiles/images/ks(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 100px; height: 114px;" />Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Singh, who is also a member of the Indian Rajya Sabha, is the first high-level Indian leader to visit Nepal after the second Constituent Assembly election. In his meeting with PM Koirala, Singh is reported to have conveyed the messages of Indian Prime Minister Dr Manmohan Singh and INC Chairperson Sonia Gandhi.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Senior leader of the ruling Indian National Congress (INC), Karan Singh arrived in Kathmandu on Friday (Feb 14). During his two-day visit, Singh met with President Dr Ram Baran Yadav, Prime Minister Sushil Koirala and other political leaders.',
			'sortorder' => '2443',
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		'Article' => array(
			'id' => '2599',
			'article_category_id' => '140',
			'title' => '‘UML Won’t Join Govt Even If Given Home Ministry’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. &ldquo;The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,&rdquo; Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.</div>
<div>
	&nbsp;</div>
<div>
	Poudel also said that his party&#39;s support to the NC-led government would depend on the government&#39;s performance. &quot;Our support will continue if the government does good work. If not, the support will be withdrawn,&quot; said he.</div>',
			'published' => true,
			'created' => '2014-02-18',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'CPN-UML Secretary Bishnu Podel has said that his party would not join the Sushil Koirala government even if it is offered the home ministry. “The chances of UML joining the government has now ended as the Nepali Congress (NC) breached the agreement forged with our party,” Poudel said while speaking at a programme organised in the Capital on Saturday (Feb 15). He added that the NC had betrayed UML by breaching the agreement.',
			'sortorder' => '2442',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
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