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			'id' => '2598',
			'article_category_id' => '140',
			'title' => 'Website For Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<div>
		With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).&nbsp;</div>
	<div>
		&nbsp;</div>
</div>
<div>
	The website offers all the relevant information on Nepal&rsquo;s economic situation, and rules, regulations and laws related to investment in the country. According to Krishna Gyawali, secretary at the Ministry of Industry, the website is basically an investment guide to Nepal and is expected to help attract foreign investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The website will help foreign investors to understand Nepal&rsquo;s overall situation,&rdquo; Gyawali said, &ldquo;It is expected to increase the flow of foreign investment to Nepal.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to Dhruva Lal Rajbanshi, director general of the DoI, foreign investors willing to invest in Nepal can get all relevant information on Nepal from their home countries through the website. &ldquo;We hope that the website will be instrumental in attracting foreign investment to Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	UNCTAD, which has already prepared such websites for other least developed countries had started preparing the website for Nepal from the last year. A similar website has already been launched in countries like Rwanda. &nbsp;</div>',
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			'created' => '2014-02-18',
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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' => 'With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).',
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			'id' => '2555',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (3 - 6 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tourism Minister hopes EU will remove Nepali Airlines from Blacklist&nbsp;</strong></span></div>
<div>
	Minister for Tourism and Civil Aviation, Ram Kumar Shrestha has expressed hope that the Nepali airlines would soon be removed from European Commission (EC)&rsquo;s blacklist that bans all airlines from Nepal from flying into the 28-nation bloc. He was confident that EU will remove the Nepali carriers from the list of unsafe carriers if the team from the EC, which arrived in Nepal on Feb 3 to conduct an on-site inspection of six airlines, prepares a factual report after thoroughly looking into the air safety measures adopted by them including areas like airworthiness of their aircraft and flight operation. The EC team has started visiting offices of state-owned Nepal Airlines, Buddha Air, Tara Air, Yeti Air, Shree Air and Sita Air from February 3. The team is also visiting the office of Civil Aviation Authority of Nepal to look into areas like flight operation, personal licensing and accident investigation. Minister Shrestha, who was speaking at a programme organised in the capital, also made it clear that EU&rsquo;s decision to put Nepal in the blacklist was not in any way influenced by the government&rsquo;s decision to buy Chinese aircraft.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pokhara Fair Concludes with Rs 80.5 m Transaction</strong></span></div>
<div>
	The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. &lsquo;Protection of Investment, Promotion of Business&rsquo; was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI). According to PCCI General Secretary Narayan Koirala, the fair that ran for 12 days saw over 120,000 visitors. It showcased 270 stalls related to different goods including handicrafts, agro-products, auto mobiles, information technology and garments. The fair was aimed at promoting local products and exploring their market, according to the organizers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Team Inspects Upper Arun Project Site</strong></span></div>
<div>
	A team from the World Bank (WB) on February 5 visited the project site of the 335MW Upper Arun Hydropower Project located some 10 kilometres away from Nepal-China border in Sankhuwasabha district. The WB team arrived in Nepal after a request from Nepal government to provide funds for the construction of the project. On February 4, officials from the Ministry of Energy (MoE) and Nepal Electricity Authority held talks with the WB team regarding the construction of the project, said Keshab Dhwoj Adhikari, spokesperson for the MoE. According to him, the WB is positive about providing soft loan for the construction of the project. The estimated cost of the project is around USD 450 million.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. ‘Protection of Investment, Promotion of Business’ was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI).',
			'sortorder' => '2404',
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			'id' => '2554',
			'article_category_id' => '140',
			'title' => 'ADB’s USD 50 Mn Loan For Gautam Buddha Airport',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. &ldquo;ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,&rdquo; said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF). &ldquo;The Bank seems positive to provide an additional loan of USD 30 million later,&rdquo; he informed The Corporate, adding that the upgrading of the airport will be completed by the end of 2018.</div>
<div>
	&nbsp;</div>
<div>
	Towards the end of the year 2012, ADB had agreed to provide a soft loan of USD 36 million for the project. Back then, it was estimated that a total amount of USD 42 million would be required to complete the upgrading of the airport. However, the project became uncertain after a Korean consultant put the estimated amount at USD 77 million for the project.</div>
<div>
	&nbsp;</div>
<div>
	The latest estimate has put the total amount at USD 95.05 million, according to Ratish Chandra Lal Suman, director general of the Civil Aviation Authority of Nepal (CAAN). &ldquo;CAAN will invest USD 22 million for the upgrading of the airport,&rdquo; he said. CAAN has already announced an international competitive bidding in accordance with ADB&rsquo;s guidelines for the construction of necessary infrastructure at the airport.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to CAAN, the upgrading of the airport will be done in two phases &ndash; civil work and installation of electronic devices and other equipment. In the first phase of the upgradation work, a 3000-metre runway, control tower, international terminal building, taxi way, fire brigade building, maintenance building, air cargo building and security posts etc will be constructed. Construction of these necessary infrastructures will begin by mid-2014.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. “ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,” said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF).',
			'sortorder' => '2397',
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		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</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 first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
			'published' => true,
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			'description' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2461',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (20 - 26 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;CPN-Maoist will revolt if sidelined&rsquo;</strong></span></div>
<div>
	<img alt="Secretary of CPN-Maoist Netra Bikram Chand ‘Biplav’" src="/userfiles/images/1(6).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />Secretary of CPN-Maoist Netra Bikram Chand &lsquo;Biplav&rsquo; has warned that his party will launch another revolt if &ldquo;attempts are made to draft the new constitution by sidelining the party. &ldquo;We will institute an alternative power and wage a revolt if we feel that the achievements of the decade-long people&rsquo;s war are at risk,&rdquo; he said while speaking at a press meet in Dhankuta on January 13. Chand said that the agenda of his party, which boycotted the second Constituent Assembly (CA) election, is to draft the much awaited new constitution for the country through an all-party round table conference. &ldquo;But if there is an agreement on ensuring the rights of oppressed, marginalised, and victimized people and workers as well as identity-based federalism then we are ready to accept the soon-to-be formed CA as it is,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;NC-led Govt soon&rsquo;</strong></span></div>
<div>
	<img alt="Nepali Congress (NC) President Sushil Koirala " src="/userfiles/images/2(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 107px;" />Nepali Congress (NC) President Sushil Koirala has said that a new NC-led government is going to be formed soon by incorporating all the political parties. Speaking at a programe in the Capital on January 14, Koirala said that talks were underway among the top leaders of the major political parties regarding government formation and that a breakthrough was expected within a few days. Koirala, who is tipped to become the next prime minister, said that the country will have a new constitution within a year. Speaking at the same programme, senior NC leader Sher Bahadur Deuba and Vice President Ram Chandra Poudel refuted rumors about bitter dispute inside the party on the prime ministerial candidate.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dahal for Fresh Presidential Poll</strong></span></div>
<div>
	<img alt="UCPN (Maoist) Chairman Pushpa Kamal Dahal" src="/userfiles/images/3(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />UCPN (Maoist) Chairman Pushpa Kamal Dahal on Thursday (January 16) proposed a new election of the President and Vice-president respecting the fresh mandate of the November 19 Constituent Assembly (CA) election. Presenting a political document at the party&rsquo;s Central Committee (CC) meet at the party headquarters Parisdanda, Dahal broke the party&rsquo;s silence on the presidential election. Meanwhile, Dahal in his 12-page political document, has expressed great dissatisfaction at the growing instance of &ldquo;sexual perversion&rdquo; and other maladies among the party leaders and activists. &ldquo;Party leaders and activists are becoming increasingly unrestrained due to sexual perversion and contradictory ideas about family, personal property and value system,&rdquo; Dahal has said in his dossier, without naming anyone. It must be noted that Dahal&rsquo;s own son Prakash had in 2012 abandoned his second wife and one-year-old son to &lsquo;elope&rsquo; with a married woman. Following the episode, UCPN (Maoist) suspended Prakash Dahal from party membership, but later revoked the decision.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gautam to Resign from Bardiya Seat</strong></span></div>
<div>
	<img alt="CPN-UML Vice-chairman Bamdev Gautam" src="/userfiles/images/4.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 105px;" />CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Writ against Docs&rsquo; Strike at TUTH</strong></span></div>
<div>
	As the hunger strike by senior Dr Govinda KC entered its seventh day and doctors restrict services at the Tribhuvan University Teaching Hospital (TUTH) in support, a writ was filed at the Supreme Court demanding that the service be resumed. Arguing that halting the services of the hospital is against the Essential Service Act, Advocate Sunil Ranjan and Consumer Welfare Protection Forum filed the writ on January 17. The writ demands an interim order from the court to resume the hospital&rsquo;s services.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.',
			'sortorder' => '2308',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2457',
			'article_category_id' => '140',
			'title' => 'ACAN-AUDAN Joint Protest Against Arrest Of CAs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Association of Chartered Accountants of Nepal (ACAN) and the Auditors&rsquo; Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the &ldquo;fake case&rdquo; against CA Jagadish Prasad Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Organising a press conference in the Capital on Thursday (January 16), ACAN and AUDAN have demanded the government not to arrest and/or prosecute auditors and chartered accountants just because of auditing the books of companies. Similarly, they have also demanded a clear explanation of the term &ldquo;accomplice&rdquo; mentioned in sections 121 and 127 of the Income Tax Act 2058 BS. Similarly, they have also demanded an amendment to sections 2 (e) and 7 (a) of the &ldquo;Asset (Money) Laundering Prevention Act, 2008.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release, both ACAN and AUDAN will not issue and or certify the audit reports of insurance companies from Friday (January 17) as part of their protest programme. They have also announced to collect the Certificate of Profession (CoP) of all chartered accountants and submit them to the Institute of Chartered Accountants of Nepal (ICAN) on January 29. They have also announced to put on black arm band at workplace and submit memorandum to the concerned government bodies.</div>
<div>
	&nbsp;</div>
<div>
	They have also announced not to issue and/or certify the audit reports of banks and financial institutions from January 29, the audit reports of the institutions licensed by the Securities Board of Nepal from February 13 and the audit reports of companies listed at Nepal Stock Exchange from February 27. Similarly, they have announced not to issue and or certify the audit reports of companies partly or fully owned by the Nepal government.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Association of Chartered Accountants of Nepal (ACAN) and the Auditors’ Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the “fake case” against CA Jagadish Prasad Agrawal.',
			'sortorder' => '2303',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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			'main_news' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2460',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (13 - 19 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Joshi Elected President of Chitwan Chamber</strong></span></div>
<div>
	Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi&rsquo;s team as the senior vice-president is Sohan Lal Pradhan. Chum Narayan Shrestha, Raju Shrestha and Chiranjibi Subedi have been elected as vice-presidents from Commerce, Industry and Commodity sectors respectively. Joshi, who was the senior vice president of the outgoing board, says that his work will be in line with the vision and mission of the Chamber.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four New ISPs in Market</strong></span></div>
<div>
	Four new companies have been given the go-ahead to operate as internet service providers (ISPs) raising their total number to 45. According to the Nepal Telecommunications Authority (NTA)., My Net and Lumbini Net obtained fresh permits from the NTA while Mega Broadcast and Otel Communications bought the licences held by existing ISPs, Everest Net and Zentech International, respectively. The four entrants have joined the market when demand for data services is increasing and two major telecom operators, Nepal Telecom and Ncell, are keeping a firm grip on the top slots. My Net is based in Dharan of Sunsari district while Lumbini Net is based in Tansen, Palpa. As per the NTA&rsquo;s latest Management Information Report, it has also issued Rural ISP licences to two companies, Pico Soft in Pokhara and Syangja Internet in Syangja to provide internet services in their localities. NTA charges Rs 300,000 for the ISP license, which allows service operation nationwide. The charge for Rural ISP license, which allows operation in only one village development committee, is set at Rs 100.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tourism Workshops by PATA</strong></span></div>
<div>
	PATA (Pacific Asia Travel Association) Nepal Chapter organsied workshops on Modern Destination Marketing Management and Writing Winning Proposals in the capital on Thursday. Simultaneously, it launched PATA Students&rsquo; Chapter Nepal and Friends of PATA Media Pool. Some 205 participants from tourism Industry that includes hotels, travel agencies, various tour operators, and the media fraternity and business institutions actively participated in the workshop that was set in motion by Subash Niroula, CEO of Nepal Tourism Board at Nepal Academy of Tourism and Hotel Management (NATHM), Rabi Bhawan on January 13.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Project Reports for Sunkoshi II</strong></span></div>
<div>
	The government is due to start the preparations of the detailed project report (DPR) of Sunkoshi II hydropower project, the country&acute;s largest hydropower project. The 1,111 MW reservoir-based project would be situated in the border area of Ramechhap and Solukhumbu districts. According to information officer at the Department of Electricity Development, Gokarna Raj Pantha, preparations for carrying out the DPR have been completed. &ldquo;We will soon call for bids,&rdquo; He said. The Asian Development Bank has already provided Rs 2.9 billion to prepare the DPR of the project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>SAARC Ministerial Meet Ends</strong></span></div>
<div>
	The fifth meeting of the commerce ministers of the South Asian Association for Regional Cooperation (SAARC) member countries concluded in New Delhi, India on Friday (January 17). The two-day meeting focused on ways to bring economic prosperity to the region through trade, according to the Ministry of Commerce. A Nepali delegation led by Minister for Finance and Commerce Shanker Prasad Koirala participated in the meeting. The delegation comprised Commerce Secretary Madhav Prasad Regmi and Joint Secretaries Nawaraj Bhandari, Begendra Sharma Poudel and Toya Narayan Gyawali. Commerce Ministers of Nepal, India, Afghanistan, Bhutan, the Maldives, Pakistan and Sri Lanka took part in the meeting. Representatives of chambers of commerce and industry of the SAARC region also attended the meeting.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi’s team as the senior vice-president is Sohan Lal Pradhan.',
			'sortorder' => '2301',
			'image' => null,
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	(int) 11 => array(
		'Article' => array(
			'id' => '2459',
			'article_category_id' => '140',
			'title' => 'Invest In Service Sector: NRB Guv',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Dr Yuvraj Khatiwada" src="/userfiles/images/gor.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 180px;" />Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce &amp; Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It has become necessary to invest in the country&rsquo;s service sector including health and education to stop capital flight,&rdquo; Dr Khatiwada said, &ldquo;The investment in the service sector will make the economy strong.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He also opined that the country has the right environment for investment at present. He also claimed that liquidity in the banks was quite high. &ldquo;Banks have more than Rs 100 billion which can be invested in different sectors,&rdquo; he said adding that this is the right time for investment.</div>
<div>
	&nbsp;</div>
<div>
	He also claimed that the scarcity of Indian currency in Nepal was because of the informal trade between the countries and the non-transparent customs evaluation. &ldquo;We bring Indian currency worth Rs 5 billion annually. If all of our trade with India takes place through the formal channels, this much amount of Indian currency is enough,&rdquo; he said.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce & Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.',
			'sortorder' => '2300',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2458',
			'article_category_id' => '140',
			'title' => 'NC To Elect Its Parliamentary Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC&rsquo;s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The other two members of the committee are central &nbsp;Ramesh Rijal and Ramchandra Tiwari.</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party&rsquo;s parliamentary party (PP) leader. The PP leader will be named as the NC&rsquo;s candidate for the post of prime minister.</div>
<div>
	&nbsp;</div>
<div>
	Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.',
			'sortorder' => '2299',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2414',
			'article_category_id' => '140',
			'title' => '‘Prez Should Call First CA Meeting’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;The Then Prime Minister Girija Prasad Koirala had called the CA meeting in 2008 as he was holding the powers of both ceremonial Head of State and executive Prime Minister after suspension of the monarchy,&quot; Koirala said, &quot;we don&rsquo;t have such situation now.&quot; He added that the dispute will be resolved soon after calling a meeting of the High Level Political Committee.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, speaking at a separate programme in Birgunj, CPN (UML) senior leader and former prime minister Madhav Kumar Nepal, too, said that the first meeting of the new CA has to be called by the President.&nbsp;</div>
<div>
	Similarly, speaking at a separate interaction program in Kathmandu, legal professionals and advocates have stressed that the matter should be resolved through mutual consent of the President and the Council of Ministers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;It would be better if the Council of Ministers recommended the President to call such a meeting and the Presidents acted accordingly,&quot; said Bishwokant Mainali, a former chief of Nepal Bar Association. &quot;There should be coordination among the two institutions (Council of Ministers and President&#39;s Office),&quot; said constitutional expert Bhimarjun Acharya.</div>',
			'published' => true,
			'created' => '2014-01-06',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.',
			'sortorder' => '2259',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '2415',
			'article_category_id' => '140',
			'title' => 'Weekly Roundup (30 December 2013 - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Govt Buying Apartments</strong></div>
<div>
	The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public&rsquo;s confidence in the housing business as well as fulfill the government&rsquo;s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Nepal Drug Ltd to be Revived</strong></div>
<div>
	The government has started discussions to resume the operations of Nepal Drug Ltd (NDL), a public enterprise closed down three years ago. At the discussion programme held at the Ministry of Finance, Minister for Finance, Industry, and Commerce and Supplies, Shanker Koirala said that the government was thinking to revive the NDL to save the history of Nepal&rsquo;s first drug manufacturing company and to provide medicines at cheaper raters to the general public.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Production License to Hydel Projects</strong></div>
<div>
	The Ministry of Energy has issued production license to two hydropower projects &ndash; 6.8MW Rudikhola A hydroelectricity Project and the 4MW Ghalemdi Khola Hydroelectricity Project. Senior Divisional Engineer at the Department of Electricity Development (DoED), Gokarna Raj Pantha said, &ldquo;Both these projects have committed to start producing power within three years.&rdquo; The construction cost of Rudikhola A which is being devepoed by Bindhyabasini Hydropower Development Company, is Rs 1.15 billion. Similarly, the Ghalemdi Khola hydel project is being developed by CMAT Power Development Company. Nepal Electricity Authority has already signed power purchase Agreement (PPA) with both the projects.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Taskforce for Making Nepal Free Wi-Fi Zone</strong></div>
<div>
	As per a concept developed by the Ministry of Information and Communications, the government has formed a taskforce to study the possibilities of declaring entire Nepal a Free WiFi Zone. Anandaraj Khanal, officiating chief of Nepal Telecommunications Authority (NTA) has been appointed the member secretary of the taskforce. Similarly, the taskforce has Mahesh Prasad Adhikari, a board member of NTA as the coordinator. Other members of the committee include technical Under-Secretaries at the Office of Prime Minister and Council of Ministers, the National Planning Commission, the Ministry of Science and Technology, the Ministry of Information and Communications, and expert at Tribhuvan University. The taskforce has been asked to submit its report with suggestions and recommendations within 30 days of it starting work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>NOC Demands Rs 2 bn Grant</strong></div>
<div>
	Ailing Nepal Oil Corporation (NOC) is preparing to seek a grant of nearly Rs 2 billion from the government to meet its monthly loss of Rs 1.85 billion. &ldquo;As we are not in position to hike prices, a grant from the government is the only way to meet our monthly loss which has climbed to Rs 1.85 billion,&rdquo; said NOC spokesperson Mukunda Ghimire, adding that the Corporation is incurring a huge loss in the import of LPG.</div>',
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			'description' => 'The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public’s confidence in the housing business as well as fulfill the government’s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.',
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		'Article' => array(
			'id' => '2598',
			'article_category_id' => '140',
			'title' => 'Website For Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<div>
		With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).&nbsp;</div>
	<div>
		&nbsp;</div>
</div>
<div>
	The website offers all the relevant information on Nepal&rsquo;s economic situation, and rules, regulations and laws related to investment in the country. According to Krishna Gyawali, secretary at the Ministry of Industry, the website is basically an investment guide to Nepal and is expected to help attract foreign investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The website will help foreign investors to understand Nepal&rsquo;s overall situation,&rdquo; Gyawali said, &ldquo;It is expected to increase the flow of foreign investment to Nepal.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to Dhruva Lal Rajbanshi, director general of the DoI, foreign investors willing to invest in Nepal can get all relevant information on Nepal from their home countries through the website. &ldquo;We hope that the website will be instrumental in attracting foreign investment to Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	UNCTAD, which has already prepared such websites for other least developed countries had started preparing the website for Nepal from the last year. A similar website has already been launched in countries like Rwanda. &nbsp;</div>',
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			'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' => 'With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).',
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			'id' => '2555',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (3 - 6 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tourism Minister hopes EU will remove Nepali Airlines from Blacklist&nbsp;</strong></span></div>
<div>
	Minister for Tourism and Civil Aviation, Ram Kumar Shrestha has expressed hope that the Nepali airlines would soon be removed from European Commission (EC)&rsquo;s blacklist that bans all airlines from Nepal from flying into the 28-nation bloc. He was confident that EU will remove the Nepali carriers from the list of unsafe carriers if the team from the EC, which arrived in Nepal on Feb 3 to conduct an on-site inspection of six airlines, prepares a factual report after thoroughly looking into the air safety measures adopted by them including areas like airworthiness of their aircraft and flight operation. The EC team has started visiting offices of state-owned Nepal Airlines, Buddha Air, Tara Air, Yeti Air, Shree Air and Sita Air from February 3. The team is also visiting the office of Civil Aviation Authority of Nepal to look into areas like flight operation, personal licensing and accident investigation. Minister Shrestha, who was speaking at a programme organised in the capital, also made it clear that EU&rsquo;s decision to put Nepal in the blacklist was not in any way influenced by the government&rsquo;s decision to buy Chinese aircraft.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pokhara Fair Concludes with Rs 80.5 m Transaction</strong></span></div>
<div>
	The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. &lsquo;Protection of Investment, Promotion of Business&rsquo; was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI). According to PCCI General Secretary Narayan Koirala, the fair that ran for 12 days saw over 120,000 visitors. It showcased 270 stalls related to different goods including handicrafts, agro-products, auto mobiles, information technology and garments. The fair was aimed at promoting local products and exploring their market, according to the organizers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Team Inspects Upper Arun Project Site</strong></span></div>
<div>
	A team from the World Bank (WB) on February 5 visited the project site of the 335MW Upper Arun Hydropower Project located some 10 kilometres away from Nepal-China border in Sankhuwasabha district. The WB team arrived in Nepal after a request from Nepal government to provide funds for the construction of the project. On February 4, officials from the Ministry of Energy (MoE) and Nepal Electricity Authority held talks with the WB team regarding the construction of the project, said Keshab Dhwoj Adhikari, spokesperson for the MoE. According to him, the WB is positive about providing soft loan for the construction of the project. The estimated cost of the project is around USD 450 million.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. ‘Protection of Investment, Promotion of Business’ was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI).',
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			'id' => '2554',
			'article_category_id' => '140',
			'title' => 'ADB’s USD 50 Mn Loan For Gautam Buddha Airport',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. &ldquo;ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,&rdquo; said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF). &ldquo;The Bank seems positive to provide an additional loan of USD 30 million later,&rdquo; he informed The Corporate, adding that the upgrading of the airport will be completed by the end of 2018.</div>
<div>
	&nbsp;</div>
<div>
	Towards the end of the year 2012, ADB had agreed to provide a soft loan of USD 36 million for the project. Back then, it was estimated that a total amount of USD 42 million would be required to complete the upgrading of the airport. However, the project became uncertain after a Korean consultant put the estimated amount at USD 77 million for the project.</div>
<div>
	&nbsp;</div>
<div>
	The latest estimate has put the total amount at USD 95.05 million, according to Ratish Chandra Lal Suman, director general of the Civil Aviation Authority of Nepal (CAAN). &ldquo;CAAN will invest USD 22 million for the upgrading of the airport,&rdquo; he said. CAAN has already announced an international competitive bidding in accordance with ADB&rsquo;s guidelines for the construction of necessary infrastructure at the airport.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to CAAN, the upgrading of the airport will be done in two phases &ndash; civil work and installation of electronic devices and other equipment. In the first phase of the upgradation work, a 3000-metre runway, control tower, international terminal building, taxi way, fire brigade building, maintenance building, air cargo building and security posts etc will be constructed. Construction of these necessary infrastructures will begin by mid-2014.</div>',
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			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. “ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,” said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF).',
			'sortorder' => '2397',
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		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</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 first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
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			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
			'sortorder' => '2355',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2461',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (20 - 26 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;CPN-Maoist will revolt if sidelined&rsquo;</strong></span></div>
<div>
	<img alt="Secretary of CPN-Maoist Netra Bikram Chand ‘Biplav’" src="/userfiles/images/1(6).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />Secretary of CPN-Maoist Netra Bikram Chand &lsquo;Biplav&rsquo; has warned that his party will launch another revolt if &ldquo;attempts are made to draft the new constitution by sidelining the party. &ldquo;We will institute an alternative power and wage a revolt if we feel that the achievements of the decade-long people&rsquo;s war are at risk,&rdquo; he said while speaking at a press meet in Dhankuta on January 13. Chand said that the agenda of his party, which boycotted the second Constituent Assembly (CA) election, is to draft the much awaited new constitution for the country through an all-party round table conference. &ldquo;But if there is an agreement on ensuring the rights of oppressed, marginalised, and victimized people and workers as well as identity-based federalism then we are ready to accept the soon-to-be formed CA as it is,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;NC-led Govt soon&rsquo;</strong></span></div>
<div>
	<img alt="Nepali Congress (NC) President Sushil Koirala " src="/userfiles/images/2(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 107px;" />Nepali Congress (NC) President Sushil Koirala has said that a new NC-led government is going to be formed soon by incorporating all the political parties. Speaking at a programe in the Capital on January 14, Koirala said that talks were underway among the top leaders of the major political parties regarding government formation and that a breakthrough was expected within a few days. Koirala, who is tipped to become the next prime minister, said that the country will have a new constitution within a year. Speaking at the same programme, senior NC leader Sher Bahadur Deuba and Vice President Ram Chandra Poudel refuted rumors about bitter dispute inside the party on the prime ministerial candidate.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dahal for Fresh Presidential Poll</strong></span></div>
<div>
	<img alt="UCPN (Maoist) Chairman Pushpa Kamal Dahal" src="/userfiles/images/3(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />UCPN (Maoist) Chairman Pushpa Kamal Dahal on Thursday (January 16) proposed a new election of the President and Vice-president respecting the fresh mandate of the November 19 Constituent Assembly (CA) election. Presenting a political document at the party&rsquo;s Central Committee (CC) meet at the party headquarters Parisdanda, Dahal broke the party&rsquo;s silence on the presidential election. Meanwhile, Dahal in his 12-page political document, has expressed great dissatisfaction at the growing instance of &ldquo;sexual perversion&rdquo; and other maladies among the party leaders and activists. &ldquo;Party leaders and activists are becoming increasingly unrestrained due to sexual perversion and contradictory ideas about family, personal property and value system,&rdquo; Dahal has said in his dossier, without naming anyone. It must be noted that Dahal&rsquo;s own son Prakash had in 2012 abandoned his second wife and one-year-old son to &lsquo;elope&rsquo; with a married woman. Following the episode, UCPN (Maoist) suspended Prakash Dahal from party membership, but later revoked the decision.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gautam to Resign from Bardiya Seat</strong></span></div>
<div>
	<img alt="CPN-UML Vice-chairman Bamdev Gautam" src="/userfiles/images/4.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 105px;" />CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Writ against Docs&rsquo; Strike at TUTH</strong></span></div>
<div>
	As the hunger strike by senior Dr Govinda KC entered its seventh day and doctors restrict services at the Tribhuvan University Teaching Hospital (TUTH) in support, a writ was filed at the Supreme Court demanding that the service be resumed. Arguing that halting the services of the hospital is against the Essential Service Act, Advocate Sunil Ranjan and Consumer Welfare Protection Forum filed the writ on January 17. The writ demands an interim order from the court to resume the hospital&rsquo;s services.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.',
			'sortorder' => '2308',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2457',
			'article_category_id' => '140',
			'title' => 'ACAN-AUDAN Joint Protest Against Arrest Of CAs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Association of Chartered Accountants of Nepal (ACAN) and the Auditors&rsquo; Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the &ldquo;fake case&rdquo; against CA Jagadish Prasad Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Organising a press conference in the Capital on Thursday (January 16), ACAN and AUDAN have demanded the government not to arrest and/or prosecute auditors and chartered accountants just because of auditing the books of companies. Similarly, they have also demanded a clear explanation of the term &ldquo;accomplice&rdquo; mentioned in sections 121 and 127 of the Income Tax Act 2058 BS. Similarly, they have also demanded an amendment to sections 2 (e) and 7 (a) of the &ldquo;Asset (Money) Laundering Prevention Act, 2008.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release, both ACAN and AUDAN will not issue and or certify the audit reports of insurance companies from Friday (January 17) as part of their protest programme. They have also announced to collect the Certificate of Profession (CoP) of all chartered accountants and submit them to the Institute of Chartered Accountants of Nepal (ICAN) on January 29. They have also announced to put on black arm band at workplace and submit memorandum to the concerned government bodies.</div>
<div>
	&nbsp;</div>
<div>
	They have also announced not to issue and/or certify the audit reports of banks and financial institutions from January 29, the audit reports of the institutions licensed by the Securities Board of Nepal from February 13 and the audit reports of companies listed at Nepal Stock Exchange from February 27. Similarly, they have announced not to issue and or certify the audit reports of companies partly or fully owned by the Nepal government.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Association of Chartered Accountants of Nepal (ACAN) and the Auditors’ Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the “fake case” against CA Jagadish Prasad Agrawal.',
			'sortorder' => '2303',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2460',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (13 - 19 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Joshi Elected President of Chitwan Chamber</strong></span></div>
<div>
	Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi&rsquo;s team as the senior vice-president is Sohan Lal Pradhan. Chum Narayan Shrestha, Raju Shrestha and Chiranjibi Subedi have been elected as vice-presidents from Commerce, Industry and Commodity sectors respectively. Joshi, who was the senior vice president of the outgoing board, says that his work will be in line with the vision and mission of the Chamber.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four New ISPs in Market</strong></span></div>
<div>
	Four new companies have been given the go-ahead to operate as internet service providers (ISPs) raising their total number to 45. According to the Nepal Telecommunications Authority (NTA)., My Net and Lumbini Net obtained fresh permits from the NTA while Mega Broadcast and Otel Communications bought the licences held by existing ISPs, Everest Net and Zentech International, respectively. The four entrants have joined the market when demand for data services is increasing and two major telecom operators, Nepal Telecom and Ncell, are keeping a firm grip on the top slots. My Net is based in Dharan of Sunsari district while Lumbini Net is based in Tansen, Palpa. As per the NTA&rsquo;s latest Management Information Report, it has also issued Rural ISP licences to two companies, Pico Soft in Pokhara and Syangja Internet in Syangja to provide internet services in their localities. NTA charges Rs 300,000 for the ISP license, which allows service operation nationwide. The charge for Rural ISP license, which allows operation in only one village development committee, is set at Rs 100.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tourism Workshops by PATA</strong></span></div>
<div>
	PATA (Pacific Asia Travel Association) Nepal Chapter organsied workshops on Modern Destination Marketing Management and Writing Winning Proposals in the capital on Thursday. Simultaneously, it launched PATA Students&rsquo; Chapter Nepal and Friends of PATA Media Pool. Some 205 participants from tourism Industry that includes hotels, travel agencies, various tour operators, and the media fraternity and business institutions actively participated in the workshop that was set in motion by Subash Niroula, CEO of Nepal Tourism Board at Nepal Academy of Tourism and Hotel Management (NATHM), Rabi Bhawan on January 13.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Project Reports for Sunkoshi II</strong></span></div>
<div>
	The government is due to start the preparations of the detailed project report (DPR) of Sunkoshi II hydropower project, the country&acute;s largest hydropower project. The 1,111 MW reservoir-based project would be situated in the border area of Ramechhap and Solukhumbu districts. According to information officer at the Department of Electricity Development, Gokarna Raj Pantha, preparations for carrying out the DPR have been completed. &ldquo;We will soon call for bids,&rdquo; He said. The Asian Development Bank has already provided Rs 2.9 billion to prepare the DPR of the project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>SAARC Ministerial Meet Ends</strong></span></div>
<div>
	The fifth meeting of the commerce ministers of the South Asian Association for Regional Cooperation (SAARC) member countries concluded in New Delhi, India on Friday (January 17). The two-day meeting focused on ways to bring economic prosperity to the region through trade, according to the Ministry of Commerce. A Nepali delegation led by Minister for Finance and Commerce Shanker Prasad Koirala participated in the meeting. The delegation comprised Commerce Secretary Madhav Prasad Regmi and Joint Secretaries Nawaraj Bhandari, Begendra Sharma Poudel and Toya Narayan Gyawali. Commerce Ministers of Nepal, India, Afghanistan, Bhutan, the Maldives, Pakistan and Sri Lanka took part in the meeting. Representatives of chambers of commerce and industry of the SAARC region also attended the meeting.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi’s team as the senior vice-president is Sohan Lal Pradhan.',
			'sortorder' => '2301',
			'image' => null,
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	(int) 11 => array(
		'Article' => array(
			'id' => '2459',
			'article_category_id' => '140',
			'title' => 'Invest In Service Sector: NRB Guv',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Dr Yuvraj Khatiwada" src="/userfiles/images/gor.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 180px;" />Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce &amp; Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It has become necessary to invest in the country&rsquo;s service sector including health and education to stop capital flight,&rdquo; Dr Khatiwada said, &ldquo;The investment in the service sector will make the economy strong.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He also opined that the country has the right environment for investment at present. He also claimed that liquidity in the banks was quite high. &ldquo;Banks have more than Rs 100 billion which can be invested in different sectors,&rdquo; he said adding that this is the right time for investment.</div>
<div>
	&nbsp;</div>
<div>
	He also claimed that the scarcity of Indian currency in Nepal was because of the informal trade between the countries and the non-transparent customs evaluation. &ldquo;We bring Indian currency worth Rs 5 billion annually. If all of our trade with India takes place through the formal channels, this much amount of Indian currency is enough,&rdquo; he said.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce & Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.',
			'sortorder' => '2300',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2458',
			'article_category_id' => '140',
			'title' => 'NC To Elect Its Parliamentary Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC&rsquo;s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The other two members of the committee are central &nbsp;Ramesh Rijal and Ramchandra Tiwari.</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party&rsquo;s parliamentary party (PP) leader. The PP leader will be named as the NC&rsquo;s candidate for the post of prime minister.</div>
<div>
	&nbsp;</div>
<div>
	Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.',
			'sortorder' => '2299',
			'image' => null,
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	(int) 13 => array(
		'Article' => array(
			'id' => '2414',
			'article_category_id' => '140',
			'title' => '‘Prez Should Call First CA Meeting’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;The Then Prime Minister Girija Prasad Koirala had called the CA meeting in 2008 as he was holding the powers of both ceremonial Head of State and executive Prime Minister after suspension of the monarchy,&quot; Koirala said, &quot;we don&rsquo;t have such situation now.&quot; He added that the dispute will be resolved soon after calling a meeting of the High Level Political Committee.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, speaking at a separate programme in Birgunj, CPN (UML) senior leader and former prime minister Madhav Kumar Nepal, too, said that the first meeting of the new CA has to be called by the President.&nbsp;</div>
<div>
	Similarly, speaking at a separate interaction program in Kathmandu, legal professionals and advocates have stressed that the matter should be resolved through mutual consent of the President and the Council of Ministers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;It would be better if the Council of Ministers recommended the President to call such a meeting and the Presidents acted accordingly,&quot; said Bishwokant Mainali, a former chief of Nepal Bar Association. &quot;There should be coordination among the two institutions (Council of Ministers and President&#39;s Office),&quot; said constitutional expert Bhimarjun Acharya.</div>',
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			'description' => 'As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.',
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			'id' => '2415',
			'article_category_id' => '140',
			'title' => 'Weekly Roundup (30 December 2013 - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Govt Buying Apartments</strong></div>
<div>
	The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public&rsquo;s confidence in the housing business as well as fulfill the government&rsquo;s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Nepal Drug Ltd to be Revived</strong></div>
<div>
	The government has started discussions to resume the operations of Nepal Drug Ltd (NDL), a public enterprise closed down three years ago. At the discussion programme held at the Ministry of Finance, Minister for Finance, Industry, and Commerce and Supplies, Shanker Koirala said that the government was thinking to revive the NDL to save the history of Nepal&rsquo;s first drug manufacturing company and to provide medicines at cheaper raters to the general public.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Production License to Hydel Projects</strong></div>
<div>
	The Ministry of Energy has issued production license to two hydropower projects &ndash; 6.8MW Rudikhola A hydroelectricity Project and the 4MW Ghalemdi Khola Hydroelectricity Project. Senior Divisional Engineer at the Department of Electricity Development (DoED), Gokarna Raj Pantha said, &ldquo;Both these projects have committed to start producing power within three years.&rdquo; The construction cost of Rudikhola A which is being devepoed by Bindhyabasini Hydropower Development Company, is Rs 1.15 billion. Similarly, the Ghalemdi Khola hydel project is being developed by CMAT Power Development Company. Nepal Electricity Authority has already signed power purchase Agreement (PPA) with both the projects.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Taskforce for Making Nepal Free Wi-Fi Zone</strong></div>
<div>
	As per a concept developed by the Ministry of Information and Communications, the government has formed a taskforce to study the possibilities of declaring entire Nepal a Free WiFi Zone. Anandaraj Khanal, officiating chief of Nepal Telecommunications Authority (NTA) has been appointed the member secretary of the taskforce. Similarly, the taskforce has Mahesh Prasad Adhikari, a board member of NTA as the coordinator. Other members of the committee include technical Under-Secretaries at the Office of Prime Minister and Council of Ministers, the National Planning Commission, the Ministry of Science and Technology, the Ministry of Information and Communications, and expert at Tribhuvan University. The taskforce has been asked to submit its report with suggestions and recommendations within 30 days of it starting work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>NOC Demands Rs 2 bn Grant</strong></div>
<div>
	Ailing Nepal Oil Corporation (NOC) is preparing to seek a grant of nearly Rs 2 billion from the government to meet its monthly loss of Rs 1.85 billion. &ldquo;As we are not in position to hike prices, a grant from the government is the only way to meet our monthly loss which has climbed to Rs 1.85 billion,&rdquo; said NOC spokesperson Mukunda Ghimire, adding that the Corporation is incurring a huge loss in the import of LPG.</div>',
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			'description' => 'The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public’s confidence in the housing business as well as fulfill the government’s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.',
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		'Article' => array(
			'id' => '2598',
			'article_category_id' => '140',
			'title' => 'Website For Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<div>
		With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).&nbsp;</div>
	<div>
		&nbsp;</div>
</div>
<div>
	The website offers all the relevant information on Nepal&rsquo;s economic situation, and rules, regulations and laws related to investment in the country. According to Krishna Gyawali, secretary at the Ministry of Industry, the website is basically an investment guide to Nepal and is expected to help attract foreign investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The website will help foreign investors to understand Nepal&rsquo;s overall situation,&rdquo; Gyawali said, &ldquo;It is expected to increase the flow of foreign investment to Nepal.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to Dhruva Lal Rajbanshi, director general of the DoI, foreign investors willing to invest in Nepal can get all relevant information on Nepal from their home countries through the website. &ldquo;We hope that the website will be instrumental in attracting foreign investment to Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	UNCTAD, which has already prepared such websites for other least developed countries had started preparing the website for Nepal from the last year. A similar website has already been launched in countries like Rwanda. &nbsp;</div>',
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			'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' => 'With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).',
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			'id' => '2555',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (3 - 6 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tourism Minister hopes EU will remove Nepali Airlines from Blacklist&nbsp;</strong></span></div>
<div>
	Minister for Tourism and Civil Aviation, Ram Kumar Shrestha has expressed hope that the Nepali airlines would soon be removed from European Commission (EC)&rsquo;s blacklist that bans all airlines from Nepal from flying into the 28-nation bloc. He was confident that EU will remove the Nepali carriers from the list of unsafe carriers if the team from the EC, which arrived in Nepal on Feb 3 to conduct an on-site inspection of six airlines, prepares a factual report after thoroughly looking into the air safety measures adopted by them including areas like airworthiness of their aircraft and flight operation. The EC team has started visiting offices of state-owned Nepal Airlines, Buddha Air, Tara Air, Yeti Air, Shree Air and Sita Air from February 3. The team is also visiting the office of Civil Aviation Authority of Nepal to look into areas like flight operation, personal licensing and accident investigation. Minister Shrestha, who was speaking at a programme organised in the capital, also made it clear that EU&rsquo;s decision to put Nepal in the blacklist was not in any way influenced by the government&rsquo;s decision to buy Chinese aircraft.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pokhara Fair Concludes with Rs 80.5 m Transaction</strong></span></div>
<div>
	The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. &lsquo;Protection of Investment, Promotion of Business&rsquo; was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI). According to PCCI General Secretary Narayan Koirala, the fair that ran for 12 days saw over 120,000 visitors. It showcased 270 stalls related to different goods including handicrafts, agro-products, auto mobiles, information technology and garments. The fair was aimed at promoting local products and exploring their market, according to the organizers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Team Inspects Upper Arun Project Site</strong></span></div>
<div>
	A team from the World Bank (WB) on February 5 visited the project site of the 335MW Upper Arun Hydropower Project located some 10 kilometres away from Nepal-China border in Sankhuwasabha district. The WB team arrived in Nepal after a request from Nepal government to provide funds for the construction of the project. On February 4, officials from the Ministry of Energy (MoE) and Nepal Electricity Authority held talks with the WB team regarding the construction of the project, said Keshab Dhwoj Adhikari, spokesperson for the MoE. According to him, the WB is positive about providing soft loan for the construction of the project. The estimated cost of the project is around USD 450 million.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. ‘Protection of Investment, Promotion of Business’ was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI).',
			'sortorder' => '2404',
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			'id' => '2554',
			'article_category_id' => '140',
			'title' => 'ADB’s USD 50 Mn Loan For Gautam Buddha Airport',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. &ldquo;ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,&rdquo; said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF). &ldquo;The Bank seems positive to provide an additional loan of USD 30 million later,&rdquo; he informed The Corporate, adding that the upgrading of the airport will be completed by the end of 2018.</div>
<div>
	&nbsp;</div>
<div>
	Towards the end of the year 2012, ADB had agreed to provide a soft loan of USD 36 million for the project. Back then, it was estimated that a total amount of USD 42 million would be required to complete the upgrading of the airport. However, the project became uncertain after a Korean consultant put the estimated amount at USD 77 million for the project.</div>
<div>
	&nbsp;</div>
<div>
	The latest estimate has put the total amount at USD 95.05 million, according to Ratish Chandra Lal Suman, director general of the Civil Aviation Authority of Nepal (CAAN). &ldquo;CAAN will invest USD 22 million for the upgrading of the airport,&rdquo; he said. CAAN has already announced an international competitive bidding in accordance with ADB&rsquo;s guidelines for the construction of necessary infrastructure at the airport.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to CAAN, the upgrading of the airport will be done in two phases &ndash; civil work and installation of electronic devices and other equipment. In the first phase of the upgradation work, a 3000-metre runway, control tower, international terminal building, taxi way, fire brigade building, maintenance building, air cargo building and security posts etc will be constructed. Construction of these necessary infrastructures will begin by mid-2014.</div>',
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			'created' => '2014-02-09',
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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 Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. “ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,” said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF).',
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		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
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			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
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			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
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			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
			'sortorder' => '2355',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
			'published' => true,
			'created' => '2014-01-27',
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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 government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2461',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (20 - 26 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;CPN-Maoist will revolt if sidelined&rsquo;</strong></span></div>
<div>
	<img alt="Secretary of CPN-Maoist Netra Bikram Chand ‘Biplav’" src="/userfiles/images/1(6).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />Secretary of CPN-Maoist Netra Bikram Chand &lsquo;Biplav&rsquo; has warned that his party will launch another revolt if &ldquo;attempts are made to draft the new constitution by sidelining the party. &ldquo;We will institute an alternative power and wage a revolt if we feel that the achievements of the decade-long people&rsquo;s war are at risk,&rdquo; he said while speaking at a press meet in Dhankuta on January 13. Chand said that the agenda of his party, which boycotted the second Constituent Assembly (CA) election, is to draft the much awaited new constitution for the country through an all-party round table conference. &ldquo;But if there is an agreement on ensuring the rights of oppressed, marginalised, and victimized people and workers as well as identity-based federalism then we are ready to accept the soon-to-be formed CA as it is,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;NC-led Govt soon&rsquo;</strong></span></div>
<div>
	<img alt="Nepali Congress (NC) President Sushil Koirala " src="/userfiles/images/2(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 107px;" />Nepali Congress (NC) President Sushil Koirala has said that a new NC-led government is going to be formed soon by incorporating all the political parties. Speaking at a programe in the Capital on January 14, Koirala said that talks were underway among the top leaders of the major political parties regarding government formation and that a breakthrough was expected within a few days. Koirala, who is tipped to become the next prime minister, said that the country will have a new constitution within a year. Speaking at the same programme, senior NC leader Sher Bahadur Deuba and Vice President Ram Chandra Poudel refuted rumors about bitter dispute inside the party on the prime ministerial candidate.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dahal for Fresh Presidential Poll</strong></span></div>
<div>
	<img alt="UCPN (Maoist) Chairman Pushpa Kamal Dahal" src="/userfiles/images/3(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />UCPN (Maoist) Chairman Pushpa Kamal Dahal on Thursday (January 16) proposed a new election of the President and Vice-president respecting the fresh mandate of the November 19 Constituent Assembly (CA) election. Presenting a political document at the party&rsquo;s Central Committee (CC) meet at the party headquarters Parisdanda, Dahal broke the party&rsquo;s silence on the presidential election. Meanwhile, Dahal in his 12-page political document, has expressed great dissatisfaction at the growing instance of &ldquo;sexual perversion&rdquo; and other maladies among the party leaders and activists. &ldquo;Party leaders and activists are becoming increasingly unrestrained due to sexual perversion and contradictory ideas about family, personal property and value system,&rdquo; Dahal has said in his dossier, without naming anyone. It must be noted that Dahal&rsquo;s own son Prakash had in 2012 abandoned his second wife and one-year-old son to &lsquo;elope&rsquo; with a married woman. Following the episode, UCPN (Maoist) suspended Prakash Dahal from party membership, but later revoked the decision.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gautam to Resign from Bardiya Seat</strong></span></div>
<div>
	<img alt="CPN-UML Vice-chairman Bamdev Gautam" src="/userfiles/images/4.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 105px;" />CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Writ against Docs&rsquo; Strike at TUTH</strong></span></div>
<div>
	As the hunger strike by senior Dr Govinda KC entered its seventh day and doctors restrict services at the Tribhuvan University Teaching Hospital (TUTH) in support, a writ was filed at the Supreme Court demanding that the service be resumed. Arguing that halting the services of the hospital is against the Essential Service Act, Advocate Sunil Ranjan and Consumer Welfare Protection Forum filed the writ on January 17. The writ demands an interim order from the court to resume the hospital&rsquo;s services.</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' => 'CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2457',
			'article_category_id' => '140',
			'title' => 'ACAN-AUDAN Joint Protest Against Arrest Of CAs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Association of Chartered Accountants of Nepal (ACAN) and the Auditors&rsquo; Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the &ldquo;fake case&rdquo; against CA Jagadish Prasad Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Organising a press conference in the Capital on Thursday (January 16), ACAN and AUDAN have demanded the government not to arrest and/or prosecute auditors and chartered accountants just because of auditing the books of companies. Similarly, they have also demanded a clear explanation of the term &ldquo;accomplice&rdquo; mentioned in sections 121 and 127 of the Income Tax Act 2058 BS. Similarly, they have also demanded an amendment to sections 2 (e) and 7 (a) of the &ldquo;Asset (Money) Laundering Prevention Act, 2008.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release, both ACAN and AUDAN will not issue and or certify the audit reports of insurance companies from Friday (January 17) as part of their protest programme. They have also announced to collect the Certificate of Profession (CoP) of all chartered accountants and submit them to the Institute of Chartered Accountants of Nepal (ICAN) on January 29. They have also announced to put on black arm band at workplace and submit memorandum to the concerned government bodies.</div>
<div>
	&nbsp;</div>
<div>
	They have also announced not to issue and/or certify the audit reports of banks and financial institutions from January 29, the audit reports of the institutions licensed by the Securities Board of Nepal from February 13 and the audit reports of companies listed at Nepal Stock Exchange from February 27. Similarly, they have announced not to issue and or certify the audit reports of companies partly or fully owned by the Nepal government.</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 Association of Chartered Accountants of Nepal (ACAN) and the Auditors’ Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the “fake case” against CA Jagadish Prasad Agrawal.',
			'sortorder' => '2303',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2460',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (13 - 19 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Joshi Elected President of Chitwan Chamber</strong></span></div>
<div>
	Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi&rsquo;s team as the senior vice-president is Sohan Lal Pradhan. Chum Narayan Shrestha, Raju Shrestha and Chiranjibi Subedi have been elected as vice-presidents from Commerce, Industry and Commodity sectors respectively. Joshi, who was the senior vice president of the outgoing board, says that his work will be in line with the vision and mission of the Chamber.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four New ISPs in Market</strong></span></div>
<div>
	Four new companies have been given the go-ahead to operate as internet service providers (ISPs) raising their total number to 45. According to the Nepal Telecommunications Authority (NTA)., My Net and Lumbini Net obtained fresh permits from the NTA while Mega Broadcast and Otel Communications bought the licences held by existing ISPs, Everest Net and Zentech International, respectively. The four entrants have joined the market when demand for data services is increasing and two major telecom operators, Nepal Telecom and Ncell, are keeping a firm grip on the top slots. My Net is based in Dharan of Sunsari district while Lumbini Net is based in Tansen, Palpa. As per the NTA&rsquo;s latest Management Information Report, it has also issued Rural ISP licences to two companies, Pico Soft in Pokhara and Syangja Internet in Syangja to provide internet services in their localities. NTA charges Rs 300,000 for the ISP license, which allows service operation nationwide. The charge for Rural ISP license, which allows operation in only one village development committee, is set at Rs 100.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tourism Workshops by PATA</strong></span></div>
<div>
	PATA (Pacific Asia Travel Association) Nepal Chapter organsied workshops on Modern Destination Marketing Management and Writing Winning Proposals in the capital on Thursday. Simultaneously, it launched PATA Students&rsquo; Chapter Nepal and Friends of PATA Media Pool. Some 205 participants from tourism Industry that includes hotels, travel agencies, various tour operators, and the media fraternity and business institutions actively participated in the workshop that was set in motion by Subash Niroula, CEO of Nepal Tourism Board at Nepal Academy of Tourism and Hotel Management (NATHM), Rabi Bhawan on January 13.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Project Reports for Sunkoshi II</strong></span></div>
<div>
	The government is due to start the preparations of the detailed project report (DPR) of Sunkoshi II hydropower project, the country&acute;s largest hydropower project. The 1,111 MW reservoir-based project would be situated in the border area of Ramechhap and Solukhumbu districts. According to information officer at the Department of Electricity Development, Gokarna Raj Pantha, preparations for carrying out the DPR have been completed. &ldquo;We will soon call for bids,&rdquo; He said. The Asian Development Bank has already provided Rs 2.9 billion to prepare the DPR of the project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>SAARC Ministerial Meet Ends</strong></span></div>
<div>
	The fifth meeting of the commerce ministers of the South Asian Association for Regional Cooperation (SAARC) member countries concluded in New Delhi, India on Friday (January 17). The two-day meeting focused on ways to bring economic prosperity to the region through trade, according to the Ministry of Commerce. A Nepali delegation led by Minister for Finance and Commerce Shanker Prasad Koirala participated in the meeting. The delegation comprised Commerce Secretary Madhav Prasad Regmi and Joint Secretaries Nawaraj Bhandari, Begendra Sharma Poudel and Toya Narayan Gyawali. Commerce Ministers of Nepal, India, Afghanistan, Bhutan, the Maldives, Pakistan and Sri Lanka took part in the meeting. Representatives of chambers of commerce and industry of the SAARC region also attended the meeting.</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' => 'Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi’s team as the senior vice-president is Sohan Lal Pradhan.',
			'sortorder' => '2301',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2459',
			'article_category_id' => '140',
			'title' => 'Invest In Service Sector: NRB Guv',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Dr Yuvraj Khatiwada" src="/userfiles/images/gor.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 180px;" />Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce &amp; Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It has become necessary to invest in the country&rsquo;s service sector including health and education to stop capital flight,&rdquo; Dr Khatiwada said, &ldquo;The investment in the service sector will make the economy strong.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He also opined that the country has the right environment for investment at present. He also claimed that liquidity in the banks was quite high. &ldquo;Banks have more than Rs 100 billion which can be invested in different sectors,&rdquo; he said adding that this is the right time for investment.</div>
<div>
	&nbsp;</div>
<div>
	He also claimed that the scarcity of Indian currency in Nepal was because of the informal trade between the countries and the non-transparent customs evaluation. &ldquo;We bring Indian currency worth Rs 5 billion annually. If all of our trade with India takes place through the formal channels, this much amount of Indian currency is enough,&rdquo; he said.</div>',
			'published' => true,
			'created' => '2014-01-20',
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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' => 'Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce & Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.',
			'sortorder' => '2300',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2458',
			'article_category_id' => '140',
			'title' => 'NC To Elect Its Parliamentary Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC&rsquo;s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The other two members of the committee are central &nbsp;Ramesh Rijal and Ramchandra Tiwari.</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party&rsquo;s parliamentary party (PP) leader. The PP leader will be named as the NC&rsquo;s candidate for the post of prime minister.</div>
<div>
	&nbsp;</div>
<div>
	Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>',
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			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.',
			'sortorder' => '2299',
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			'id' => '2414',
			'article_category_id' => '140',
			'title' => '‘Prez Should Call First CA Meeting’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;The Then Prime Minister Girija Prasad Koirala had called the CA meeting in 2008 as he was holding the powers of both ceremonial Head of State and executive Prime Minister after suspension of the monarchy,&quot; Koirala said, &quot;we don&rsquo;t have such situation now.&quot; He added that the dispute will be resolved soon after calling a meeting of the High Level Political Committee.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, speaking at a separate programme in Birgunj, CPN (UML) senior leader and former prime minister Madhav Kumar Nepal, too, said that the first meeting of the new CA has to be called by the President.&nbsp;</div>
<div>
	Similarly, speaking at a separate interaction program in Kathmandu, legal professionals and advocates have stressed that the matter should be resolved through mutual consent of the President and the Council of Ministers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;It would be better if the Council of Ministers recommended the President to call such a meeting and the Presidents acted accordingly,&quot; said Bishwokant Mainali, a former chief of Nepal Bar Association. &quot;There should be coordination among the two institutions (Council of Ministers and President&#39;s Office),&quot; said constitutional expert Bhimarjun Acharya.</div>',
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			'description' => 'As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.',
			'sortorder' => '2259',
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			'id' => '2415',
			'article_category_id' => '140',
			'title' => 'Weekly Roundup (30 December 2013 - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Govt Buying Apartments</strong></div>
<div>
	The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public&rsquo;s confidence in the housing business as well as fulfill the government&rsquo;s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Nepal Drug Ltd to be Revived</strong></div>
<div>
	The government has started discussions to resume the operations of Nepal Drug Ltd (NDL), a public enterprise closed down three years ago. At the discussion programme held at the Ministry of Finance, Minister for Finance, Industry, and Commerce and Supplies, Shanker Koirala said that the government was thinking to revive the NDL to save the history of Nepal&rsquo;s first drug manufacturing company and to provide medicines at cheaper raters to the general public.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Production License to Hydel Projects</strong></div>
<div>
	The Ministry of Energy has issued production license to two hydropower projects &ndash; 6.8MW Rudikhola A hydroelectricity Project and the 4MW Ghalemdi Khola Hydroelectricity Project. Senior Divisional Engineer at the Department of Electricity Development (DoED), Gokarna Raj Pantha said, &ldquo;Both these projects have committed to start producing power within three years.&rdquo; The construction cost of Rudikhola A which is being devepoed by Bindhyabasini Hydropower Development Company, is Rs 1.15 billion. Similarly, the Ghalemdi Khola hydel project is being developed by CMAT Power Development Company. Nepal Electricity Authority has already signed power purchase Agreement (PPA) with both the projects.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Taskforce for Making Nepal Free Wi-Fi Zone</strong></div>
<div>
	As per a concept developed by the Ministry of Information and Communications, the government has formed a taskforce to study the possibilities of declaring entire Nepal a Free WiFi Zone. Anandaraj Khanal, officiating chief of Nepal Telecommunications Authority (NTA) has been appointed the member secretary of the taskforce. Similarly, the taskforce has Mahesh Prasad Adhikari, a board member of NTA as the coordinator. Other members of the committee include technical Under-Secretaries at the Office of Prime Minister and Council of Ministers, the National Planning Commission, the Ministry of Science and Technology, the Ministry of Information and Communications, and expert at Tribhuvan University. The taskforce has been asked to submit its report with suggestions and recommendations within 30 days of it starting work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>NOC Demands Rs 2 bn Grant</strong></div>
<div>
	Ailing Nepal Oil Corporation (NOC) is preparing to seek a grant of nearly Rs 2 billion from the government to meet its monthly loss of Rs 1.85 billion. &ldquo;As we are not in position to hike prices, a grant from the government is the only way to meet our monthly loss which has climbed to Rs 1.85 billion,&rdquo; said NOC spokesperson Mukunda Ghimire, adding that the Corporation is incurring a huge loss in the import of LPG.</div>',
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		'Article' => array(
			'id' => '2598',
			'article_category_id' => '140',
			'title' => 'Website For Foreign Investors',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<div>
		With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).&nbsp;</div>
	<div>
		&nbsp;</div>
</div>
<div>
	The website offers all the relevant information on Nepal&rsquo;s economic situation, and rules, regulations and laws related to investment in the country. According to Krishna Gyawali, secretary at the Ministry of Industry, the website is basically an investment guide to Nepal and is expected to help attract foreign investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The website will help foreign investors to understand Nepal&rsquo;s overall situation,&rdquo; Gyawali said, &ldquo;It is expected to increase the flow of foreign investment to Nepal.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to Dhruva Lal Rajbanshi, director general of the DoI, foreign investors willing to invest in Nepal can get all relevant information on Nepal from their home countries through the website. &ldquo;We hope that the website will be instrumental in attracting foreign investment to Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	UNCTAD, which has already prepared such websites for other least developed countries had started preparing the website for Nepal from the last year. A similar website has already been launched in countries like Rwanda. &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' => 'With an aim to provide detailed information on investment prospects in Nepal, a new website has been launched for foreign investors. The website (www.theiguides.org/nepal) was launched last Thursday (February 13) with joint efforts from the Department of Industry (DoI) and United Nations Conference on Trade and Development (UNCTAD).',
			'sortorder' => '2441',
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		'Article' => array(
			'id' => '2555',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (3 - 6 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tourism Minister hopes EU will remove Nepali Airlines from Blacklist&nbsp;</strong></span></div>
<div>
	Minister for Tourism and Civil Aviation, Ram Kumar Shrestha has expressed hope that the Nepali airlines would soon be removed from European Commission (EC)&rsquo;s blacklist that bans all airlines from Nepal from flying into the 28-nation bloc. He was confident that EU will remove the Nepali carriers from the list of unsafe carriers if the team from the EC, which arrived in Nepal on Feb 3 to conduct an on-site inspection of six airlines, prepares a factual report after thoroughly looking into the air safety measures adopted by them including areas like airworthiness of their aircraft and flight operation. The EC team has started visiting offices of state-owned Nepal Airlines, Buddha Air, Tara Air, Yeti Air, Shree Air and Sita Air from February 3. The team is also visiting the office of Civil Aviation Authority of Nepal to look into areas like flight operation, personal licensing and accident investigation. Minister Shrestha, who was speaking at a programme organised in the capital, also made it clear that EU&rsquo;s decision to put Nepal in the blacklist was not in any way influenced by the government&rsquo;s decision to buy Chinese aircraft.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pokhara Fair Concludes with Rs 80.5 m Transaction</strong></span></div>
<div>
	The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. &lsquo;Protection of Investment, Promotion of Business&rsquo; was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI). According to PCCI General Secretary Narayan Koirala, the fair that ran for 12 days saw over 120,000 visitors. It showcased 270 stalls related to different goods including handicrafts, agro-products, auto mobiles, information technology and garments. The fair was aimed at promoting local products and exploring their market, according to the organizers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>WB Team Inspects Upper Arun Project Site</strong></span></div>
<div>
	A team from the World Bank (WB) on February 5 visited the project site of the 335MW Upper Arun Hydropower Project located some 10 kilometres away from Nepal-China border in Sankhuwasabha district. The WB team arrived in Nepal after a request from Nepal government to provide funds for the construction of the project. On February 4, officials from the Ministry of Energy (MoE) and Nepal Electricity Authority held talks with the WB team regarding the construction of the project, said Keshab Dhwoj Adhikari, spokesperson for the MoE. According to him, the WB is positive about providing soft loan for the construction of the project. The estimated cost of the project is around USD 450 million.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The National Industrial Trade Fair that kicked off in Pokhara on January 23 concluded on February 3 with transactions of around Rs 80.5 million. ‘Protection of Investment, Promotion of Business’ was the theme of the fair organised by Pokhara Chamber of Commerce and Industry (PCCI).',
			'sortorder' => '2404',
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		'Article' => array(
			'id' => '2554',
			'article_category_id' => '140',
			'title' => 'ADB’s USD 50 Mn Loan For Gautam Buddha Airport',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. &ldquo;ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,&rdquo; said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF). &ldquo;The Bank seems positive to provide an additional loan of USD 30 million later,&rdquo; he informed The Corporate, adding that the upgrading of the airport will be completed by the end of 2018.</div>
<div>
	&nbsp;</div>
<div>
	Towards the end of the year 2012, ADB had agreed to provide a soft loan of USD 36 million for the project. Back then, it was estimated that a total amount of USD 42 million would be required to complete the upgrading of the airport. However, the project became uncertain after a Korean consultant put the estimated amount at USD 77 million for the project.</div>
<div>
	&nbsp;</div>
<div>
	The latest estimate has put the total amount at USD 95.05 million, according to Ratish Chandra Lal Suman, director general of the Civil Aviation Authority of Nepal (CAAN). &ldquo;CAAN will invest USD 22 million for the upgrading of the airport,&rdquo; he said. CAAN has already announced an international competitive bidding in accordance with ADB&rsquo;s guidelines for the construction of necessary infrastructure at the airport.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to CAAN, the upgrading of the airport will be done in two phases &ndash; civil work and installation of electronic devices and other equipment. In the first phase of the upgradation work, a 3000-metre runway, control tower, international terminal building, taxi way, fire brigade building, maintenance building, air cargo building and security posts etc will be constructed. Construction of these necessary infrastructures will begin by mid-2014.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-09',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Asian Development Bank has agreed to provide a soft loan of USD 50 million for the upgrading of the Gautam Budhha Airport in Bhairahawa. “ADB has already decided to provide the loan assistance. What remains now is the formalization of the decision by the ADB Board,” said Madhu Kumar Marasini, chief of the International Economic Cooperation Coordination Division under the Ministry of Finance (MoF).',
			'sortorder' => '2397',
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		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
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			'description' => 'The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
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			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
			'sortorder' => '2355',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
			'published' => true,
			'created' => '2014-01-27',
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			'description' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
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		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
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			'modified' => '2014-01-27',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
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		'Article' => array(
			'id' => '2461',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (20 - 26 January 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&lsquo;CPN-Maoist will revolt if sidelined&rsquo;</strong></span></div>
<div>
	<img alt="Secretary of CPN-Maoist Netra Bikram Chand ‘Biplav’" src="/userfiles/images/1(6).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />Secretary of CPN-Maoist Netra Bikram Chand &lsquo;Biplav&rsquo; has warned that his party will launch another revolt if &ldquo;attempts are made to draft the new constitution by sidelining the party. &ldquo;We will institute an alternative power and wage a revolt if we feel that the achievements of the decade-long people&rsquo;s war are at risk,&rdquo; he said while speaking at a press meet in Dhankuta on January 13. Chand said that the agenda of his party, which boycotted the second Constituent Assembly (CA) election, is to draft the much awaited new constitution for the country through an all-party round table conference. &ldquo;But if there is an agreement on ensuring the rights of oppressed, marginalised, and victimized people and workers as well as identity-based federalism then we are ready to accept the soon-to-be formed CA as it is,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;NC-led Govt soon&rsquo;</strong></span></div>
<div>
	<img alt="Nepali Congress (NC) President Sushil Koirala " src="/userfiles/images/2(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 107px;" />Nepali Congress (NC) President Sushil Koirala has said that a new NC-led government is going to be formed soon by incorporating all the political parties. Speaking at a programe in the Capital on January 14, Koirala said that talks were underway among the top leaders of the major political parties regarding government formation and that a breakthrough was expected within a few days. Koirala, who is tipped to become the next prime minister, said that the country will have a new constitution within a year. Speaking at the same programme, senior NC leader Sher Bahadur Deuba and Vice President Ram Chandra Poudel refuted rumors about bitter dispute inside the party on the prime ministerial candidate.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dahal for Fresh Presidential Poll</strong></span></div>
<div>
	<img alt="UCPN (Maoist) Chairman Pushpa Kamal Dahal" src="/userfiles/images/3(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 115px;" />UCPN (Maoist) Chairman Pushpa Kamal Dahal on Thursday (January 16) proposed a new election of the President and Vice-president respecting the fresh mandate of the November 19 Constituent Assembly (CA) election. Presenting a political document at the party&rsquo;s Central Committee (CC) meet at the party headquarters Parisdanda, Dahal broke the party&rsquo;s silence on the presidential election. Meanwhile, Dahal in his 12-page political document, has expressed great dissatisfaction at the growing instance of &ldquo;sexual perversion&rdquo; and other maladies among the party leaders and activists. &ldquo;Party leaders and activists are becoming increasingly unrestrained due to sexual perversion and contradictory ideas about family, personal property and value system,&rdquo; Dahal has said in his dossier, without naming anyone. It must be noted that Dahal&rsquo;s own son Prakash had in 2012 abandoned his second wife and one-year-old son to &lsquo;elope&rsquo; with a married woman. Following the episode, UCPN (Maoist) suspended Prakash Dahal from party membership, but later revoked the decision.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gautam to Resign from Bardiya Seat</strong></span></div>
<div>
	<img alt="CPN-UML Vice-chairman Bamdev Gautam" src="/userfiles/images/4.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 100px; height: 105px;" />CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Writ against Docs&rsquo; Strike at TUTH</strong></span></div>
<div>
	As the hunger strike by senior Dr Govinda KC entered its seventh day and doctors restrict services at the Tribhuvan University Teaching Hospital (TUTH) in support, a writ was filed at the Supreme Court demanding that the service be resumed. Arguing that halting the services of the hospital is against the Essential Service Act, Advocate Sunil Ranjan and Consumer Welfare Protection Forum filed the writ on January 17. The writ demands an interim order from the court to resume the hospital&rsquo;s services.</div>',
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			'description' => 'CPN-UML Vice-chairman Bamdev Gautam, who was elected from Bardiya-1 and Pyuthan-1, has said he will leave the Bardiya seat. Gautam, however, expressed his commitment to remain in contact with the electorate and help them carry out development activities in the district. The UML leader was in the district to celebrate Maghi, the greatest festival of the Tharu community.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2457',
			'article_category_id' => '140',
			'title' => 'ACAN-AUDAN Joint Protest Against Arrest Of CAs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The Association of Chartered Accountants of Nepal (ACAN) and the Auditors&rsquo; Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the &ldquo;fake case&rdquo; against CA Jagadish Prasad Agrawal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Organising a press conference in the Capital on Thursday (January 16), ACAN and AUDAN have demanded the government not to arrest and/or prosecute auditors and chartered accountants just because of auditing the books of companies. Similarly, they have also demanded a clear explanation of the term &ldquo;accomplice&rdquo; mentioned in sections 121 and 127 of the Income Tax Act 2058 BS. Similarly, they have also demanded an amendment to sections 2 (e) and 7 (a) of the &ldquo;Asset (Money) Laundering Prevention Act, 2008.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release, both ACAN and AUDAN will not issue and or certify the audit reports of insurance companies from Friday (January 17) as part of their protest programme. They have also announced to collect the Certificate of Profession (CoP) of all chartered accountants and submit them to the Institute of Chartered Accountants of Nepal (ICAN) on January 29. They have also announced to put on black arm band at workplace and submit memorandum to the concerned government bodies.</div>
<div>
	&nbsp;</div>
<div>
	They have also announced not to issue and/or certify the audit reports of banks and financial institutions from January 29, the audit reports of the institutions licensed by the Securities Board of Nepal from February 13 and the audit reports of companies listed at Nepal Stock Exchange from February 27. Similarly, they have announced not to issue and or certify the audit reports of companies partly or fully owned by the Nepal government.</div>',
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			'description' => 'The Association of Chartered Accountants of Nepal (ACAN) and the Auditors’ Association of Nepal (AUDAN) have announced a joint agitation against the arrest of auditors. Putting forward a four-point demand, the two organizations have asked the government to immediately release senior Chartered Accountant (CA) Gopal Kumar Agrawal and withdraw the “fake case” against CA Jagadish Prasad Agrawal.',
			'sortorder' => '2303',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2460',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (13 - 19 January 2014)',
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			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Joshi Elected President of Chitwan Chamber</strong></span></div>
<div>
	Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi&rsquo;s team as the senior vice-president is Sohan Lal Pradhan. Chum Narayan Shrestha, Raju Shrestha and Chiranjibi Subedi have been elected as vice-presidents from Commerce, Industry and Commodity sectors respectively. Joshi, who was the senior vice president of the outgoing board, says that his work will be in line with the vision and mission of the Chamber.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four New ISPs in Market</strong></span></div>
<div>
	Four new companies have been given the go-ahead to operate as internet service providers (ISPs) raising their total number to 45. According to the Nepal Telecommunications Authority (NTA)., My Net and Lumbini Net obtained fresh permits from the NTA while Mega Broadcast and Otel Communications bought the licences held by existing ISPs, Everest Net and Zentech International, respectively. The four entrants have joined the market when demand for data services is increasing and two major telecom operators, Nepal Telecom and Ncell, are keeping a firm grip on the top slots. My Net is based in Dharan of Sunsari district while Lumbini Net is based in Tansen, Palpa. As per the NTA&rsquo;s latest Management Information Report, it has also issued Rural ISP licences to two companies, Pico Soft in Pokhara and Syangja Internet in Syangja to provide internet services in their localities. NTA charges Rs 300,000 for the ISP license, which allows service operation nationwide. The charge for Rural ISP license, which allows operation in only one village development committee, is set at Rs 100.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tourism Workshops by PATA</strong></span></div>
<div>
	PATA (Pacific Asia Travel Association) Nepal Chapter organsied workshops on Modern Destination Marketing Management and Writing Winning Proposals in the capital on Thursday. Simultaneously, it launched PATA Students&rsquo; Chapter Nepal and Friends of PATA Media Pool. Some 205 participants from tourism Industry that includes hotels, travel agencies, various tour operators, and the media fraternity and business institutions actively participated in the workshop that was set in motion by Subash Niroula, CEO of Nepal Tourism Board at Nepal Academy of Tourism and Hotel Management (NATHM), Rabi Bhawan on January 13.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Project Reports for Sunkoshi II</strong></span></div>
<div>
	The government is due to start the preparations of the detailed project report (DPR) of Sunkoshi II hydropower project, the country&acute;s largest hydropower project. The 1,111 MW reservoir-based project would be situated in the border area of Ramechhap and Solukhumbu districts. According to information officer at the Department of Electricity Development, Gokarna Raj Pantha, preparations for carrying out the DPR have been completed. &ldquo;We will soon call for bids,&rdquo; He said. The Asian Development Bank has already provided Rs 2.9 billion to prepare the DPR of the project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>SAARC Ministerial Meet Ends</strong></span></div>
<div>
	The fifth meeting of the commerce ministers of the South Asian Association for Regional Cooperation (SAARC) member countries concluded in New Delhi, India on Friday (January 17). The two-day meeting focused on ways to bring economic prosperity to the region through trade, according to the Ministry of Commerce. A Nepali delegation led by Minister for Finance and Commerce Shanker Prasad Koirala participated in the meeting. The delegation comprised Commerce Secretary Madhav Prasad Regmi and Joint Secretaries Nawaraj Bhandari, Begendra Sharma Poudel and Toya Narayan Gyawali. Commerce Ministers of Nepal, India, Afghanistan, Bhutan, the Maldives, Pakistan and Sri Lanka took part in the meeting. Representatives of chambers of commerce and industry of the SAARC region also attended the meeting.</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' => 'Chitwan businessman Kalyan Joshi was elected the president of the Chitwan Chamber of Commerce on Jan 15 for a term of two years from the 17th General Assembly of the Chamber. The results of the election, which was held on January 14, were announced on January 15 morning. Joshi secured 933 votes while his rival Shree Bhakta Achyut Wagle received only 426 votes in the election. Elected in Joshi’s team as the senior vice-president is Sohan Lal Pradhan.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2459',
			'article_category_id' => '140',
			'title' => 'Invest In Service Sector: NRB Guv',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="Dr Yuvraj Khatiwada" src="/userfiles/images/gor.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 150px; height: 180px;" />Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce &amp; Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It has become necessary to invest in the country&rsquo;s service sector including health and education to stop capital flight,&rdquo; Dr Khatiwada said, &ldquo;The investment in the service sector will make the economy strong.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He also opined that the country has the right environment for investment at present. He also claimed that liquidity in the banks was quite high. &ldquo;Banks have more than Rs 100 billion which can be invested in different sectors,&rdquo; he said adding that this is the right time for investment.</div>
<div>
	&nbsp;</div>
<div>
	He also claimed that the scarcity of Indian currency in Nepal was because of the informal trade between the countries and the non-transparent customs evaluation. &ldquo;We bring Indian currency worth Rs 5 billion annually. If all of our trade with India takes place through the formal channels, this much amount of Indian currency is enough,&rdquo; he said.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce & Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2458',
			'article_category_id' => '140',
			'title' => 'NC To Elect Its Parliamentary Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC&rsquo;s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The other two members of the committee are central &nbsp;Ramesh Rijal and Ramchandra Tiwari.</div>
<div>
	&nbsp;</div>
<div>
	NC President Sushil Koirala, Senior Leader Sher Bahadur Deuba and Vice President Ramchandra Poudel are contesting for the post of the party&rsquo;s parliamentary party (PP) leader. The PP leader will be named as the NC&rsquo;s candidate for the post of prime minister.</div>
<div>
	&nbsp;</div>
<div>
	Among the top three leaders, NC President Koirala has relatively strong grip inside the party. Despite this, the election is going to be held in order to demonstrate a democratic practice inside the party, it is learnt.</div>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-20',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepali Congress (NC) has decided to conduct election of its parliamentary leader. NC’s central committee meeting on January 18 took the decision to form a three-member election organizing committee led by party spokesperson Dilendra Prasad Badu.',
			'sortorder' => '2299',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2414',
			'article_category_id' => '140',
			'title' => '‘Prez Should Call First CA Meeting’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;The Then Prime Minister Girija Prasad Koirala had called the CA meeting in 2008 as he was holding the powers of both ceremonial Head of State and executive Prime Minister after suspension of the monarchy,&quot; Koirala said, &quot;we don&rsquo;t have such situation now.&quot; He added that the dispute will be resolved soon after calling a meeting of the High Level Political Committee.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, speaking at a separate programme in Birgunj, CPN (UML) senior leader and former prime minister Madhav Kumar Nepal, too, said that the first meeting of the new CA has to be called by the President.&nbsp;</div>
<div>
	Similarly, speaking at a separate interaction program in Kathmandu, legal professionals and advocates have stressed that the matter should be resolved through mutual consent of the President and the Council of Ministers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&quot;It would be better if the Council of Ministers recommended the President to call such a meeting and the Presidents acted accordingly,&quot; said Bishwokant Mainali, a former chief of Nepal Bar Association. &quot;There should be coordination among the two institutions (Council of Ministers and President&#39;s Office),&quot; said constitutional expert Bhimarjun Acharya.</div>',
			'published' => true,
			'created' => '2014-01-06',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'As the debate on who should call the first meeting of the newly elected Constituent Assembly (CA) continues, Nepali Congress President Sushil Koirala has said that it is the task of the Head of State. Addressing a program in Kathmandu on January 3, Koirala said President Dr Ram Baran Yadav, in his capacity as the Head of State, should call the first meeting of the CA, adding that this would be in line with the international practice, too.',
			'sortorder' => '2259',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2415',
			'article_category_id' => '140',
			'title' => 'Weekly Roundup (30 December 2013 - 5 January 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>Govt Buying Apartments</strong></div>
<div>
	The government has decided to buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public&rsquo;s confidence in the housing business as well as fulfill the government&rsquo;s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Nepal Drug Ltd to be Revived</strong></div>
<div>
	The government has started discussions to resume the operations of Nepal Drug Ltd (NDL), a public enterprise closed down three years ago. At the discussion programme held at the Ministry of Finance, Minister for Finance, Industry, and Commerce and Supplies, Shanker Koirala said that the government was thinking to revive the NDL to save the history of Nepal&rsquo;s first drug manufacturing company and to provide medicines at cheaper raters to the general public.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Production License to Hydel Projects</strong></div>
<div>
	The Ministry of Energy has issued production license to two hydropower projects &ndash; 6.8MW Rudikhola A hydroelectricity Project and the 4MW Ghalemdi Khola Hydroelectricity Project. Senior Divisional Engineer at the Department of Electricity Development (DoED), Gokarna Raj Pantha said, &ldquo;Both these projects have committed to start producing power within three years.&rdquo; The construction cost of Rudikhola A which is being devepoed by Bindhyabasini Hydropower Development Company, is Rs 1.15 billion. Similarly, the Ghalemdi Khola hydel project is being developed by CMAT Power Development Company. Nepal Electricity Authority has already signed power purchase Agreement (PPA) with both the projects.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Taskforce for Making Nepal Free Wi-Fi Zone</strong></div>
<div>
	As per a concept developed by the Ministry of Information and Communications, the government has formed a taskforce to study the possibilities of declaring entire Nepal a Free WiFi Zone. Anandaraj Khanal, officiating chief of Nepal Telecommunications Authority (NTA) has been appointed the member secretary of the taskforce. Similarly, the taskforce has Mahesh Prasad Adhikari, a board member of NTA as the coordinator. Other members of the committee include technical Under-Secretaries at the Office of Prime Minister and Council of Ministers, the National Planning Commission, the Ministry of Science and Technology, the Ministry of Information and Communications, and expert at Tribhuvan University. The taskforce has been asked to submit its report with suggestions and recommendations within 30 days of it starting work.</div>
<div>
	&nbsp;</div>
<div>
	<strong>NOC Demands Rs 2 bn Grant</strong></div>
<div>
	Ailing Nepal Oil Corporation (NOC) is preparing to seek a grant of nearly Rs 2 billion from the government to meet its monthly loss of Rs 1.85 billion. &ldquo;As we are not in position to hike prices, a grant from the government is the only way to meet our monthly loss which has climbed to Rs 1.85 billion,&rdquo; said NOC spokesperson Mukunda Ghimire, adding that the Corporation is incurring a huge loss in the import of LPG.</div>',
			'published' => true,
			'created' => '2014-01-06',
			'modified' => '2014-01-06',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 buy apartments for VVIPs and VIPs. According to Suresh Prakash Acharya, spokesperson for the Ministry of Urban Development, the decision will boost up the general public’s confidence in the housing business as well as fulfill the government’s need. Acharya said that apartments will be bought for the Prime Minister, Chief Justice, ministers and government secretaries, among other highly-placed officials. The government has already invited bids for buying apartments for the VVIPs and VIPs. Acharya said that the decision will boost the morale of the housing entrepreneurs.',
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