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			'id' => '2168',
			'article_category_id' => '153',
			'title' => 'Dip In Mercury Raises Heater Sale',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	K<span style="font-size: 12px;">athmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm. Demand for heaters in local market has gone up significantly and traders in the niche are glad. With winter setting in early this year, it has led to greater trade than last year during the same period. An early surge in heater sales has flamed corresponding expectations of higher profit this season.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market status</strong></span></div>
<div>
	Market of winter-comforting materials like heater, blankets is always relational to the wintry spell. Since the spell started earlier this time, till February traders are expecting substantial trade of these products. Most of Nepali consumers rely on Chinese winter-warming products. Chinese products dominating Nepali market due to their affordable prices. However, internationally renowned home appliance brands like the Black &amp; Decker, Yasuda, Electron, et cetera, are also competing in the niche. These brands have introduced a series of electric and non-electric heaters in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhaskar Munankarmi, Assistant Manager at Him Electronics, authorized dealer of Samsung in Nepal, said that most heaters in Nepali market are Chinese and that consumers prefer them primarily for the affordable prices. &ldquo;We have been selling both Halogen and gas heaters of Smsungamong which the demand of gas heater is more due to expected long hours of power outage,&rdquo; Munankarmi added.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The sale of the heaters is expected to increase by 30 per cent than that of previous year till the peak of winter season,&rdquo; he said that adding that &ldquo;The prices of the heaters have also increased by 20 per cent than that of previous years due to rise in the price of foreign exchange.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Heaters in Nepali Market</strong></span></div>
<div>
	In Nepal, halogen, quartz, fan, kerosene and LPG heaters are widely preferred. Halogen, quartz and fan heaters are basically variants of electric heating devices. Halogen heaters are available in two- and three-rod types. Price of Chinese two-rod halogen heaters starts from Rs 1765, while the three-rod variant starts at around Rs 2200.</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the demand of gas heater is increasing in the market as compared to the halogen and kerosene heaters. &ldquo;As it can be operated even during load shedding hours and can heat up a room more effectively in short time, gas heaters are more popular,&rdquo; said Ishwor Dangol, proprietor of Asan based Ishwor Store. &ldquo;It is now displacing the traditional electric heater and kerosene heater,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market offers gas heaters with three burners. Once heated, the burner, made up of ceramic clay and lime, releases heat for a long time.</div>
<div>
	&nbsp;</div>
<div>
	A single heating burner with a capacity of 1.4 kilowatt can release up to 4,000 watts of heat at its full efficiency level. Dangol said a gas heater can heat a room with an area of 20-80 sqm, provided all the three burners are lighted. &ldquo;The infrared and fast heating systems fitted in the heater warms the room in a short time, thereby using less &nbsp;energy,&rdquo; said Dangol.</div>
<div>
	&nbsp;</div>
<div>
	Bikash Maharjan of Ganapati Store in Mahabauddha said a cylinder of LPG can fuel a gas heater for 90 to 100 hours with all the three burners lighted.</div>
<div>
	&nbsp;</div>
<div>
	Apart from the normal gas heater, the market also offers hybrid ones that use both LPG and electricity. Electric segment of the hybrid heater comes with three halogen rods or heating fan. &ldquo;The demand for the hybrid heater is also on the rise as it allows people to use the electric heater also,&rdquo; said Maharjan.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A normal gas heater costs between Rs 5,500 and Rs 6,000, while the hybrid one is available for Rs 7,500 and above. A one-year warranty is also offered in the products,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Heater Brands in Nepal" src="/userfiles/images/fc1%20(Copy).jpg" style="width: 550px; height: 274px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Brands in Nepali Market&nbsp;</strong></span></div>
<div>
	Internationally acclaimed home appliance brands like Black &amp; Decker, Yasuda, and Electron, among others, are competing in Nepal heater segment market. Though Chinese heaters are widely preferred by the Nepali customers, dealers of these international brands are hopeful of a fair share of the market for their products.</div>
<div>
	&nbsp;</div>
<div>
	Anil Sethia, Managing Director of Universal Trading Centre (UTC), a subsidiary of Lucky Group, the authorised distributor of Black &amp; Decker, says, &ldquo;We brought in electric heaters five years ago and currently we are the leaders when it comes to branded heaters, as the rest of the market is dominated by Chinese products.&rdquo; While determining actual market share of their product remains difficult, he informed that they sell around 1,000 units a year.</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Electron Appliances &mdash; an Australian brand established over 20 years ago &mdash; has been competing in the Nepali market since a decade. Amit Taparia, Manager at Electron International Private Limited, a professional household appliance company marketing the brand&rsquo;s appliances in Nepal, says, &ldquo;We have heaters in quartz, halogen, fan and gas models in the two- and three-rod segment. Capacities of our models vary from 600 to 1,200 watts. We also have a two-in-one gas cum electric heater.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to him, consumers are shifting away from traditional quartz to halogen and fan variants, though the latter are mainly used for office purposes. &ldquo;The sales of LPG heaters is also catching up with electric variants, as they can be used during power cut hours. This is the reason we occupy 20 per cent of the market share among branded heaters,&rdquo; says Taparia, though he argues that disclosure of price is difficult and may vary from one retailer to other.</div>
<div>
	&nbsp;</div>
<div>
	With Chinese products dominating the market, dealers in branded ones are reluctant to disclose the price and sales growth. However, they uniformly agree that the market is growing. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anil Goenka, Operation Manager of Triveni Byapar Company Limited, authorised distributor of Yasuda, says, &ldquo;Yasuda, an affordable brand introduced in Nepal just three years ago, is witnessing an average growth of 30 per cent every year. Targeting the middle class segment, we provide six models of halogen heaters. Five of our models belong to three-rod segment while one has two rods.&rdquo; Like Taparia, Goyenka also finds it difficult to reveal prices and annual sales of company products. He claimed that the brand enjoys 15 per cent of the market share among branded heaters. Goenka adds, &ldquo;Remote control feature and smooth rotation adds to the good looks that our products flaunt, making us the preferred choice among prospective buyers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospects of the Market</strong></span></div>
<div>
	Traders opine that the market of heater in Nepal is flourishing. Especially in Kathmandu where the climate tempts people to buy heater to avoid chilling winter cold. As a warm home in winter makes everything better, heater-traders expected equally&nbsp;<span style="font-size: 12px;">heated sales.&nbsp;</span></div>',
			'published' => true,
			'created' => '2013-11-26',
			'modified' => '2013-12-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Kathmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm.   Demand for heaters in local market has gone up significantly and traders in the niche are glad.',
			'sortorder' => '2017',
			'image' => null,
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	(int) 1 => array(
		'Article' => array(
			'id' => '2122',
			'article_category_id' => '153',
			'title' => 'Glittering And Glowing Jewellery Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Suraksha Adhikari&nbsp;</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items. &ldquo;These days people prefer unique and light weight jewellery over heavy and classic designs,&rdquo; said Mani Ratna Shakya, President of Federation of Nepal Gold and Silver Dealers&rsquo; Association (FENEGOSIDA).</span></div>
<div>
	&nbsp;</div>
<div>
	Once a symbol of prestige and prosperity, the charm of jewellery has not decreased yet but it has been an integral part of our society. Though the trend of jewellery has changed, it still denotes affluence of a family. Shakya said, &ldquo;The trend of placing orders has almost vanished as people now go for readymade products in the market.&rdquo; For Nepalis, jewellery is a tradition. The way people flaunt jewellery has changed over the period, but the charm hasn&rsquo;t changed and will never change, he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The shift in consumer preferences is evident with the fact that the number of branded and designer jewellery stores in the Kathmandu valley has increased many folds over the last two-three years, changing the way Nepalis shop for jewelries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	&ldquo;The leading metal in Nepali society, gold covers 75 per cent of the Nepal market because of its traditional and religious importance,&rdquo; said Tej Ratna Shakya, Former-President of FENEGOSIDA. Small amount of gold can be expanded to form large jewelleries and gold is an essential part in Hindu society during rituals ranging from birth and death of a person because of which the importance of gold has not decreased in our society. &nbsp;&ldquo;Though the sales volume of jewellery has come down because of the high price, the increase in the price of the yellow metal with various designs during the festival season has compensated the loss,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market demands estimated 35-40 kg gold per day but the government ceiling of importing only 15 kg per day has hindered in meeting the demand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;The annual revenue from the jewellery to Nepali government reaches around Rs 3 billion excluding the insurance and other additional income.&rdquo; He added, &ldquo;Around 5,400 kg of gold is imported and one kg of gold yields Rs 5,20,000 revenue. The revenue from gold four years ago was Rs 70 million with a rate of Rs 13, 000 per kg.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;After gold, silver occupies second position in Nepali market covering 25 percent of total jewellery.&rdquo; Shakya said. He added, &ldquo;Diamond market has been gradually increasing in Nepal showing higher opportunities to the traders.&rdquo; &nbsp;Before 4-5 years the sale of diamond was not even 10 per cent of total jewellery trade, but now a days people prefer diamond jewelries to heavy and classic gold jewellery. Shakya explained, &ldquo;Some years ago, diamond was only bought by upper higher class people but the trend of middle class people wearing diamond rather than yellow metal has made a significant improvement in recent years.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">The growing market size has also prompted traders bring in branded jewellery and come up with their own brands. While Shree Riddhi Sidhi has launched two brands Ashwarya and Akabari, other prominent stores like Gem House has introduced Swarna and Arsi brand jewelleries.</span></div>
<div>
	&nbsp;</div>
<div>
	The annual growth of the jewellery market is around 15-20 per cent at present but this growth is limited only up to this as the government has not revised its provision to import only 15 kg of gold per day while the demand of the gold is much more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Import-Export&nbsp;</strong></span></div>
<div>
	According to Tej Ratna Shakya, the government has permitted to import 15 kg gold on daily basis in Nepal. &ldquo;The raw material for gold is imported up to that ceiling but readymade jewelries are imported less in comparison to the raw material as the ready-made jewelleries have to pay 10 per cent custom duty,&rdquo; Shakya added. Only some of the big companies import the ready-made sets despite heavy custom charges, he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Talking about the export, Shakya said that though the jewellery market has not been able to make remarkable change, it nonetheless is slowly spreading its outreach. Some of the jewellery companies have opened their outlets in foreign countries. &ldquo;RB Diamond has opened its outlet in United States whereas Baraha Jewellery has its outlet in London and some have their outlet in Australia and so on,&rdquo; he further added.</div>
<div>
	&nbsp;</div>
<div>
	Apart from gold and silver, there is also high demand for Nepalis&rsquo; handcrafted jewelleries in the international market. &ldquo;Most of the gems in Nepal are used for silver jewelleries that are exported to Europe and America,&rdquo; said the traders. The handcrafted jewelries are very famous and liked by the Europeans and Americans. They are exported in different designs like earrings, rings, necklaces, pendants, bracelets, brooch, bangles and different articles embedded with precious stones.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Diamond is the most important precious stone in terms of value that generates a larger volume of revenue and business internationally,&rdquo; said Mahesh Man Shrestha, owner of Gahana Griha. Even in Nepal, diamond jewellery is more popular and in demand than other gemstones, added Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Jewellery certification</strong></span></div>
<div>
	Jewellery certification plays a vital role in the business. There are labs all over the world that identify and grade gemstones, however, it&rsquo;s not an established trend in Nepal yet. Shakya said, &ldquo;Since the jewelleries of Nepal are not exported to international market, the certification has not been an issue till now.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the trend is being established slowly. He added, &ldquo;RB Diamond Jewelers is taking an initiative to change this by introducing GIA (Gemological Institute of America) Certification for gems and jewelries in the near future.&rdquo; These certificates are internationally recognized and honoured and known for grading precision, technology, research and other important factors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospect of the market</strong></span></div>
<div>
	The jewellery market of Nepal is providing employment opportunities to around 50,000- 60,000 people at present. Nepal&rsquo;s jewellery market has a very bright future prospect. &ldquo;The growth in the market can be noticed through the rise in the number of gold stores,&rdquo; said Shakya adding that the profit margin of individual stores might have fluctuated, but the overall market is growing. The penetration of Nepali jewellery in Europe can develop the market in broader way with greater exposure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	There are many issues related to the jewellery market. Foremost is the lack of proper policies and regulations related to the production and other issues related to the market. Mani Ratna Shakya said, &ldquo;The government inspects and charges our shops without any proper policies and we are still unaware about the framework of our working area as government has not prepared any regulations.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Traders say the unavailability of raw material, lack of awareness among sellers and buyers, security risk and lack of skilled manpower have hindered the industry&rsquo;s growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;We can easily get a million dollar order from the US at present. Several American importers are interested in Nepali jewellery but we have not been able to export. Once we have the same export provisions as in India, the export of our jewellery will increase significantly. Therefore, the government should ease the export of jewellery.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Over 80 percent of the skilled manpower working in Nepal come from India and other countries. &ldquo;We are not being able to generate skilled manpower within the country and this might cause a huge problem in the days to come,&rdquo; said Shakya adding that this can degrade the quality of the jewelleries.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/jewellry%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
			'modified' => '2013-11-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items.',
			'sortorder' => '1982',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '2046',
			'article_category_id' => '153',
			'title' => 'Two-wheelers Getting More Riders',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the arrival of the main festivals in Nepal, the mob of people is seen around the motorcycle showrooms to grab the offers and schemes provided by various companies on the occasion of festivals. Adhir Kumar Shrestha, Assistant Managing Director of V.G. Automobiles Pvt. Ltd said that the sale of motorcycles has increased to double following the offers. This company has already sold around 1,200 units of motorcycles in short span of being authorized dealer of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shekhar Golchha, President of the Nepal Automobile Dealers&rsquo; Association (NADA) said that the size of the market increases during the festival season because of the trend of buying new things during the special occasions. He said, &ldquo;Around 20 to 50 per cent of total sale of two wheelers on Nepal is during Dashain.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added, &ldquo;The first choice of people after having some amount of money is automobile and Dashain is the most suitable occasion for the people to buy new things in the family.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The road widening drive in Kathmandu and other cities in the country started some time ago. However, most roads still await completion. &ldquo;Having wide roads will definitely have a positive impact on the industry,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	After the continuous dropdown of the two wheelers market for more than two years, the market has again picked up the pace. As per the data of Department of Transport Management the import of two-wheelers rose 22 percent in the first nine months of the fiscal year compared to the same period last year.</div>
<div>
	&nbsp;</div>
<div>
	Analyzing the data of past one decade, the motorcycle segment has witnessed a very impressive growth. The number of two-wheelers has grown from 26,547 in fiscal 2003-04 to 175,381 in fiscal 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	One of the largest players in the two-wheeler scene in the country, HH Bajaj, reported that they had witnessed a growth in sales of more than 40 percent. The company has so far sold around 30,000 units of two-wheelers. Shekhar Golchha, executive director of HH Bajaj, said that the reason behind the increase in sales was the bounce-back effect afterv a huge fall.</div>
<div>
	&nbsp;</div>
<div>
	The enormous growth the two-wheeler segment has been witnessing annually has been spreading to areas outside the capital city. While the market for two-wheelers has come to a saturation point in the Kathmandu valley, sales outside the valley have seen a massive growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Factors in Increasing Sales</strong></span></div>
<div>
	The easy availability of auto loans at a lower interest rate compared to the past few years has contributed to the growth in auto sales. Currently, finance companies are offering auto loans in the range of 9.5 to 12 percent interest. &ldquo;As two-wheelers are the means of transportation of the general people, easy availability of finance has played a positive role in the increment in sales,&rdquo; Golchha said. Meanwhile the sales of two-wheelers had increased as public transportation isn&rsquo;t reliable in the country. Launching of schemes by motorcycle dealers round the year and new model rollouts too have aided growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Problems and Challenges</strong></span></div>
<div>
	Traders say that the license distribution system of Transportation Management Department is capital centric which has been creating problem to the license holder outside the valley. This has been degrading the sale as the facility of trial for two wheelers is only in Pokhara and Kathmandu after the upgrade of license distribution system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector.&nbsp;</div>',
			'published' => true,
			'created' => '2013-10-28',
			'modified' => '2013-11-11',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.',
			'sortorder' => '1938',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'user_id' => '0'
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	(int) 3 => array(
		'Article' => array(
			'id' => '1992',
			'article_category_id' => '153',
			'title' => 'A Click Here And A Market There: The Growing Camera Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Everyone has memories &mdash; bitter or sweet. With time memories tend to fade, but if you want your memories to sweeten as they age then thank technology &mdash; the camera is at your service.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that because of the festive season, the sale of cameras - be it digital or SLR have been increasing. The camera is being recognized as a necessary gadget in today&rsquo;s context. Its significance has increased much in festivals. People prefer cameras to capture moments of joy and during festivals and other occasions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growing Trend</strong></span></div>
<div>
	There are a variety of cameras in the market including digital cameras and high resolution single lens SLRs. Digital cameras are preferred by people as it is easy to carry and easier to handle. Similarly, DSLR cameras are used by people for better quality pictures or to cover wider shots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the advantages of the digital camera is that there is no limitation in the number of pictures that can be taken. Along with this, the pictures captured can also be transferred to computers and can be developed according to the wish and feasibility of the people. People prefer digital cameras to analog cameras as they cannot capture the picture more than the number set in the photographic film. Traders say that the increasing trend of these digital cameras have an effect on the sale of branded cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The growing market of digital cameras clearly shows the growing interest of people towards it. Traders opine that digital cameras have a lot of opportunities in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Camera" src="/userfiles/images/FOCUS1.jpg" style="width: 550px; height: 347px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Brands Available in the Nepali Market</strong></span></div>
<div>
	With a large variety of cameras in the Nepali market, some famous brands available in the market are Canon, Sony, Samsung, Philips, Panasonic, Nikon and others. &nbsp;All authorized dealers of these cameras in the Nepali market have introduced new model cameras during the festive season with a series of offers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market is full of stores that deal in digital cameras of different brands. &nbsp;Stores in New road like Galaxy Photo, Royal Traders, New Amber Impex, Digital Camera Spot and more deal popular brands like Nikon, Canon, Sony, Samsung, Fuji, Olympus, Panasonic and Kodak for compact digital cameras with one year warranty. These stores also sell professional Digital Single Lens Reflex Camera (DSLR) of all brands mentioned.</div>
<div>
	&nbsp;</div>
<div>
	Primex International - Canon&rsquo;s authorised dealer in Nepal; Him Electronics - authorized dealer of Samsung in Nepal; and NepaHima Trade link - authorized dealer of Sony have introduced a new model of respective cameras on the occasion of Dashain and Tihar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	New Amber Impex also has camera accessories of brand UBCX such as camera bags, tripod, camera case, filter and more as per the requirement of the customers. About the cameras found in Galaxy Photo Mukesh KC, a staff at New Amber Impex informs, &ldquo;The products are from Singapore whereas the brands are Japanese.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Most products at these stores are from local authorised dealers where Purushottam Thapa, staff at Royal Traders shares, &ldquo;The brands are all Japanese and the cameras are assembled in China.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	There are various kinds of digital cameras available in these stores in Kathmandu where the customers can opt for simple portable compact digital cameras as well as professional DSLRs. According to Sunil Goel, staff at New Amber Impex the brand Sony also has water proof compact digital camera.</div>
<div>
	&nbsp;</div>
<div>
	There are various series where the function and system varies accordingly and he adds, &ldquo;In the compact digital camera of Sony WX50, you can get a panorama function for a wider view and a 3D movie function as well. Likewise, in compact digital cameras of Cannon IXY420F, you will get high mega pixels, full HD, Image Stabiliser with Wifi and a touchscreen.&rdquo; Shopkeepers say that while purchasing a camera one must look into the print order that compact digital cameras offer rather than high megapixels. The quality of print depends upon the print order where Sony has A3 size print order, Cannon has A2 and Samsung has A1.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In portable digital cameras, you can get colours as per your wish ranging from silver, black, pink, blue and more. &ldquo;The camera must have cases or bags. And while handling a compact digital camera, it would be better if you use the strap of the camera while using it,&rdquo;says KC from New Amber Impex.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status in Nepal</strong></span></div>
<div>
	The customers are interested in digital cameras as they can get a high resolution camera in relatively cheaper prices. At a minimum price of Rs 7000, people can get cameras with a focus of 8 megapixels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The traders say that in comparison to the brands of other countries, customers prefer the brands of Japan and Korea. Digital camera of Sony from japan is popular in Nepal. Dinesh Agrawal, Sales Manager of Primex International says that this brand is more popular in the Nepali market as it has various new features in comparison to other old model cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly the price of the digital camera is also decreasing because of high competition between various brands of cameras. These cameras attract customers because of their portability, easy handling features and various features with&nbsp;</div>
<div>
	high quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges</strong></span></div>
<div>
	Encouraging growth in sales aside, traders are experiencing various hurdles in this business. Though the competition is very high, traders claim that quality maintenance is not fair in the market. With the plethora of products available in the market, complaints about duplicate products are also on the rise. The growth of unhealthy competition and duplicate products that degrade market credibility is one of the few negative aspects in this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Photo Shop" src="/userfiles/images/FOC.jpg" style="width: 575px; height: 207px; margin-left: 15px; margin-right: 15px;" /></div>',
			'published' => true,
			'created' => '2013-10-21',
			'modified' => '2013-10-28',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.',
			'sortorder' => '1880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1951',
			'article_category_id' => '153',
			'title' => 'Opinion: ‘Possibilities Of The Commodity Market In Nepal’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size:14px;">The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;The possibilities of Commodity Market in Nepal&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. Experts from the commodity market presented their opinion on the current status of this sector. <strong>Excerpts:</strong></span><br />
	<br />
	<img alt="Paristha Nath Poudyal ,Director, Securities Board of Nepal (SEBON)" src="/userfiles/images/pnp.jpg" style="width: 150px; height: 188px;" /></p>
<p>
	<strong>Paristha Nath Poudyal<br />
	Director, Securities Board of Nepal (SEBON)</strong><br />
	<br />
	&bull; The budget of 2070/71 has fixed that the regulation of the commodity market will be done by the Securities Board of Nepal (SEBON). For implementing this decision we have received a working procedure from the Ministry of Finance. We have been directed to submit an ordinance or some legal works to the ministry by mid November.<br />
	&bull; We have already completed two levels of discussion for this. We are improving the market first and then regulating it.<br />
	&bull; We have been studying the regulatory process of various countries like India, Singapore, Hong Kong, United Kingdom and others. We will develop the regulation process according to the context of our country by discussing with stakeholders and studying all other countries&rsquo; regulations.<br />
	&bull; The regulatory body is just a facilitator and we will work accordingly.<br />
	&bull; Rather than the board, the issues related to regulations should be a matter of concern to the government and it should not delay the task.<br />
	&bull; Training for investors is essential. This year we have planned to establish the &lsquo;Capital Market Research and Training Institute&rsquo;. This effort is meant for developing the skills of investors.</p>
<p>
	<br />
	<br />
	<img alt="Dipendra Khatiwada" src="/userfiles/images/dk.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Dipendra Khatiwada<br />
	Managing Director, Mercantile Exchange Nepal (MEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The major necessity of today&rsquo;s market is regulation. We have been requesting the government for the formation of regulations from a long time. Regulations develop assurance and build trust among the public.<br />
	&bull;&nbsp;&nbsp; &nbsp;Regulations are not complete in themselves. They should be formed in such a way that they can support exchange companies as well as develop credibility among people.<br />
	&bull;&nbsp;&nbsp; &nbsp;Gold imported to Nepal is not of high quality. Though the gold is said to be of triple line, we should examine whether they are really of that standard. Such checks develop credibility in customers but Nepal does not have such facilities.<br />
	&bull;&nbsp;&nbsp; &nbsp;We do not have the mechanism to verify the quality of goods. If those mechanisms are in places, we can import any goods. Laws should be practical and only goods that can be verified should be imported.<br />
	&bull;&nbsp;&nbsp; &nbsp;There is no investment friendly environment in this market. The willpower of investors has decreased. So the establishment of a warehouse in Nepal is not possible for at least 5 years. Only the regulatory body can bridge the gap.<br />
	&bull;&nbsp;&nbsp; &nbsp;Other financial instruments can be promoted in this condition. Commodity is itself a financial instrument. Hazing platform, price discovery and price dissemination can be developed in the form of financial instruments.<br />
	&bull;&nbsp;&nbsp; &nbsp;Without the will power of the government, people from the outside the government cannot do anything. The government is unable to decide on the issue of formation of regulation for the commodity market which has created problems.<br />
	&bull;&nbsp;&nbsp; &nbsp;We are dealing with exchanges only in our market. Supply and distribution is not possible in such a situation. In international practice too it is seen that in the exchange process, 5 per cent win and 95 percent lose. This reality should be realized by investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;There are frequent transactions happening in the market. Though the quantity has decreased, the quality of transactions has increased and increase in quality is more essential than quantitative increment.</p>
<p>
	<br />
	<br />
	<img alt="Ram Sharan Upreti" src="/userfiles/images/rsu.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Ram Sharan Upreti<br />
	General Manager, Everest Commodities Limited</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The problems of the commodity market have been divided into three parts. The foremost problem is the failure of the government to formulate policies; secondly, there is no uniformity in the working policy of commodity exchange companies; and thirdly, the investors are not properly educated about this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Concerned stakeholders have been discussing issues of the commodity market from the very beginning and stakeholders have been raising their voice regarding this issue. But the government is not showing its concern on this matter. The commodity market has a significant position but the government has not raised any issue regarding this market at discussions of the economy of the country.<br />
	&bull;&nbsp;&nbsp; &nbsp;The failure of conducting a proper exchange operation module is also a problem in this market. There are 10 exchanges operating in the market with different trading modules.&nbsp; Presently, there are two-three types of trading module in Nepal. These modules have different trading and pricing processes which has cause confusion among customers. An appropriate module for the market has not been identified yet which has minimized scope of new opportunity for investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;Lack of proper awareness among investors on the commodity market is also a major problem in this sector. This market has been famous as a glamorous sector. Because of the same reason, the market reached its peak in a short period and did not take long to fall. The people have just understood it as an exchange market.<br />
	&bull;&nbsp;&nbsp; &nbsp;People who do not have proper knowledge come to this market and because of them, the market loses credibility.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market has been in operation for six years. But till date, real investors and organizational investors have not entered the market. Exchange companies have not been able to do something significant in the derivative mechanism.</p>
<p>
	<br />
	<img alt="Santosh Pradhan,Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/ssp.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Santosh Pradhan<br />
	Chairman, Nepal Derivative Exchange (NDEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Commodity exchange is not complete in itself. There are various factors responsible to run this market smoothly. In the context of Nepal, actual commodity exchange has not been practiced yet.<br />
	&bull;&nbsp;&nbsp; &nbsp;An appropriate commodity exchange friendly eco-system is essential for this. The laws and physical infrastructure favourable to this market should be maintained. We must be able to access agricultural products in the international market by storing it in a facilitated warehouse.<br />
	&bull;&nbsp;&nbsp; &nbsp;The government should at least bring an ordinance to maintain regulations and issue license to exchanges and brokers.<br />
	&bull;&nbsp;&nbsp; &nbsp;Exchange companies should be specialized on the basis of their operation procedure, software, human resources and other measures of standardization. Unless this is done, all exchange companies have their own term of standards and they move forward with different schemes.<br />
	&bull;&nbsp;&nbsp; &nbsp;Transaction through warehouses can be the baseline for systematic initiation in this market. In the medium level this market can be developed through big financial institutions, and stakeholders and their trade risks can be addressed through the commodity market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal can be developed as an international financial center. The trade of gold and silver can be done in Nepal in bigger investment. National as well as international investors can invest in this and manage their portfolio.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal is not in condition to run 10 commodity exchange at present. Maximum two exchanges would be enough.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Santosh Pradhan, Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/bs(1).jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Bijesh Shrestha,<br />
	President and Managing Director, Asian Derivative Exchange (ADEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Everything has a fixed life cycle and so does a commodity market. The commodity market was established in Nepal in 2006 AD and during 2009-2011, it attracted a lot of investors. This expanded the market by mid 2012, it became mature. Anything that experiences drastic growth in a short period of time does not last long and the same thing happened to the commodity market. The market has completed a life cycle and it has to revise itself now with some improvements in regulations and other aspects.<br />
	&bull;&nbsp;&nbsp; &nbsp;Only paper transactions are being done in the commodity market&nbsp; till date. The market grew drastically and crashed immediately because of which customers are losing trust. Trust can be regained by forming a strong base. Similarly, improvement in the capital market and the real estate market is also essential for improving this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Though there are 10 exchange companies operating in the market, the number of investors does not exceed from 50-60. This shows decrement in the number of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The regulatory body should pave the way for regulations and the exchange companies should follow it. This market should include transactions of exchange index and Nepse index to attract investors.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Abhisek Gautam" src="/userfiles/images/ag.jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Abhisek Gautam<br />
	General Manager,Commodity Futures Exchange (CFX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;There are more investors observing loss than earning profit in the commodity market.&nbsp; The number of customers in this market has decreased compared to the previous year. This market can observe negative effects which are created because of mismanagement of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market lacks novelty at present. We are using the same old things just with some modification. There have been change in the marketing procedure but production and market is the same.&nbsp; The numbers of investors are decreasing because of security issues in the market.<br />
	&bull;&nbsp;&nbsp; &nbsp;The expansion and recession in the commodity market is directly proportional to the economic cycle. The market has been experiencing recession these days but it was booming some months ago. Everything has its own pace but the commodity market rose exceptionally fast and is experiencing downfall now.<br />
	&bull;&nbsp;&nbsp; &nbsp;Some national and international organizations have been boosting agriculture production, commercialization and pricing in Nepal. Those agriculture products should be included in this market but we are failing to do so as the act related to the warehouse has not been formed yet. Also not formed are shares, treasury bills and other financial instruments that would make the market more effective.</p>',
			'published' => true,
			'created' => '2013-10-07',
			'modified' => '2013-10-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘The possibilities of Commodity Market in Nepal’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1809',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1902',
			'article_category_id' => '153',
			'title' => 'E-commerce Talks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;Demystifying New Mode of Trade and Payments&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. This interaction was dedicated to clear the existing technology that has been replaced by new technologies in the fields of trade and payments. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. <strong>Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Biswas Dhakal" src="/userfiles/images/bs.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Biswas Dhakal</span></strong></div>
<div>
	<strong><span style="font-size:14px;">President, F1Soft International Ltd</span></strong></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Our main objective is to facilitate customers with new and easy services. Other companies also carry similar objectives to make life easier for customers through digital transactions. Every transaction should be a digital transaction, be it large banking transactions or daily life transactions. We have initiated the online transaction service with this same purpose. This brings money to the banking sector and also increases investment. Remittance, which has covered large areas in the Nepali economy, is also brought to the country through online systems. The procedure of an online system is very easy and can be used by everyone. It can be done by simply sending an SMS and people are seen to be interested towards this service. But due to various reasons, the popularity of this system has not increased yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem of the digital system is a lack of its credibility among people. But the system is totally secured from our side. We have adopted international norms for security in the system. Our first priority is to provide secured transactions and we have not received any complaints regarding security and services from our customers.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main obstacle for digital transaction in reference to the worldwide global practice is digital illiteracy. Moreover, in an education deprived country like ours, the problem is huge. So it is impossible to achieve hundred per cent digital coverage in Nepal. However, our concept is to move from developed to less developed areas. For example, 50 per cent families of Kathmandu have their representatives abroad. A major responsibility for those abroad is to send money to their family. If we can convince the people in Kathmandu towards online transaction, they can opt for a digital medium as their mode of transaction. Moreover, the family in Kathmandu can also use an online medium to send money and other materials abroad. We can then enter rural areas as well. Using personal brand ambassadors rather than our individual effort for promotion would be more effective.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>There is a misconception that few government policies have created obstacles. However, if all processes are completed, it is not that difficult to work. Everyone involved in transaction has their own process. The Nepal Rastra Bank also has its own policy. The foreign exchange department also has its own policy. We cannot exist for long in this sector if we bypass their policies. According to the policy of the Nepal Rastra Bank, a private organization cannot hold funds of customers. So, we appointed banks for the payment and provided the custody of customers&rsquo; money to them. Similarly, foreign currencies are also handled by banks. So, there are no hurdles due to rules and regulations if they are handled properly.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Samir Vajracharya" src="/userfiles/images/sv(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Samir Vajracharya</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technology Officer, Smart Choice Technology</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Smart Choice Technology (SCT) started in 2001 AD when there were hardly 4-5 ATMs and 10,000 cards. Currently, there are 15, 000 cards under the SCT network only and more than 18,000 people with access to cash. A total of 85 financial institutions are affiliated with SCT. &nbsp;We have focused on ATM transactions and Point of Sale (POS), mainly. There is a vast difference in the situation now and then. Our vision is to provide easy access to financial activities to the people and we have been successful in our mission to a large extent. This does not mean that this is the line of satisfaction as a large number of people hesitate to use ATMs still.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Nepali market is not ready for e-services, which has been the main hurdle for increment in the online market. We should be able to make people aware about the importance of online transactions so that their interest level towards this service increases.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is not being able to lead this sector which is also seen as a major problem. The government should introduce some compulsory regulations regarding online services to increase people&rsquo;s involvement in this sector. This is only due to the contribution and dedication of the private sector that online services have reached up to this level. But without support from the government, the online sector cannot sustain for long. The private sector is profit-oriented, but if the government sector takes charge then this sector can be service-oriented.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Though the issue of security is big in this sector, SCT is very much concerned about the security issue and has worked on it. Our cards are based on pin codes which are the safest medium in this sector in comparison to a signature as it can be copied.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Customers have to face problems because of problems in network but these problems are not solely from theSCT network. There are various service providers including telecom, banks and others involved with it. This is difficult to manage as network problems may arise anywhere anytime. People should be aware of this.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Poorly developed infrastructures and a lack of skilled manpower are also major obstacles in the context of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are also facing problems because of political instability and power cuts. The companies from foreign countries are interested to work with us which is a positive sign for us but these vital problems are blocking them to work with us. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Similarly, there is a lack of government policy. The central bank should provide a benchmark to other banks for e-payment. It is difficult for the private sector to work without a benchmark. We are discussing with concerned authorities to solve these issues.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<img alt="Rabin Kumar Shrestha" src="/userfiles/images/rks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" /><span style="font-size:14px;"><strong>Rabin Kumar Shrestha</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technical Officer, PayBill</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are making maximum efforts for improvement of the online sector but we are not getting results accordingly. There are various reasons for this. Firstly, people are not aware of this system. Most people still believe that the internet is only limited to the social media. They are not aware that various transactions can also be done through the internet. These people can be attracted to this sector if they are made aware.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The issue of security is also a major concern but this system is very much secured. Customers should send two smses to transact from PEBIL. After the first sms, we send an alpha code to the customer and after that the customer must send both the alpha code and pin through sms. Only after this will they will be able to transact. So, this way our system is secured but people are still not convinced.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Subas Dhungana" src="/userfiles/images/sd.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" />Subash Dhungana</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Executive, iPay</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>iPay is an online payment system. We have been operating Muncha.com since 2002. Our services were limited to gift packages for long though we were not satisfied with the results. But some positive signs are emerging now based on which we are expanding our services. &nbsp;We have moved towards bringing remittance and media sites for downloading files along with online shopping. We have made agreements with seven banks for this purpose recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main reason behind the failure of e-commerce sites is the failure of payment to customers. For online payment, there are e-sewa, PayBill, SCT, credit card and our own production iPay which are associated with seven banks. But if the customer is asked to pay online, then s/he makes various excuses as they are not aware of these services. So cards of Nepali banks should get international validity for easy access to online payment. Around 20-25 people register in Muncha.com but at the end, they have problems with the payment system. Therefore, an easy way for payment should be initiated with support from the government or the central bank. Though these issues are discussed, we are lacking behind in implementation. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We have not faced any problem regarding security, nor have we received any complaints. We are practicing international norms of security in our system. We can&rsquo;t say that the online medium is hundred percent secured but problems have not occurred yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Political instability is also main problem for this sector. The number of internet users has increased, but political stability is must for the sector&rsquo;s rapid growth. Political stability brings employment, and it is when people are engaged and busy that they start engaging in online activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Bal K. Joshi" src="/userfiles/images/bkj.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Bal K. Joshi</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>President, MACHNET</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal has immense potential for e-commerce. Though there is not much expansion in this sector, the condition has not worsened. There are a lot of websites conducting e-commerce and their businesses have increased through the medium. The expansion of the market for e-commerce depends upon target customers and identifying their needs.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem at present is not being able to invite international transactions to our country. PayPal is popular for this at national and international levels. But there are some procedural problems in the use of PayPal digital transaction in Nepal. The customers have to pay an extra fee to send the money. For example, if a person has to send 2000 dollars then s/he will have to pay around 2500 dollars. So, there is no prospect for using PayPal to expand the digital transaction market in Nepal. We are introducing a new platform related to money transfer for the first time in Nepal to make it easier for Nepali customers to transfer money from abroad.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-30',
			'modified' => '2013-10-08',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘Demystifying New Mode of Trade and Payments’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1763',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1862',
			'article_category_id' => '153',
			'title' => 'Third Money Expo 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Third &lsquo;Money Expo 2013&rsquo; is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.&nbsp; Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation. The expo will host stalls of bank and financial organizations, capital market and&nbsp; insurance companies among others.&nbsp; Various regulatory bodies will also be participating in the event. There will be 125 stalls in total and different conferences related to share markets, investment in infrastructures, mutual&nbsp; funds, private public partnership, microfinance and use of new technology in commodities and financial markets will be held.&nbsp;</p>
<p>
	Organizers have informed that entrepreneurs from India, Europe and Middle East Asia will be participating as well. &ldquo;The government aims to uplift the country to the status of a developing country by 2020 AD. High levels of investment from private and public sectors are necessary for this and the expo aims to be a platform for the investors&rdquo;, say the organizers. The Money Expo will host discussions on various issues such as investment of remittance in productive areas, making investments project focused, and the demands of the comparatively liberal policy to invite foreign direct investment in infrastructure development.&rdquo;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'Third ‘Money Expo 2013’ is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.  Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation',
			'sortorder' => '1723',
			'image' => '1379935089.jpg',
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1861',
			'article_category_id' => '153',
			'title' => 'Problems And Challenges Of BFIs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme &lsquo;BFIs: Problems and Challenges&rsquo; was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:</p>
<p>
	<br />
	<strong>&lsquo;Financial Sector is Completely Secured&rsquo;</strong></p>
<p>
	<strong><img alt="bhaskar" src="/userfiles/images/Bhaskar.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 177px; " /></strong></p>
<p>
	<strong>Bhaskar Mani Gnawali</strong></p>
<p>
	<strong>Spokesperson, Nepal Rastra Bank</strong></p>
<p>
	&bull;&nbsp;&nbsp; There was an influx of financial institutions after the implementation of the Liberal License Policy which created unhealthy competition between the institutions. This resulted in maximum investment in the real estate sector, and thereby created problems in the financial sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; After that, the central bank decided to control loans in the real estate sector and a deposit insurance policy was also introduced. There is now a system of deposit insurance up to Rs 200,000 for all&nbsp; deposits of natural persons, so that there is no fear to deposit money in any bank and financial institution.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Influx of banks and financial institutions with the Liberal License Policy brought problems in the financial system. To control these problems, the central bank came up with a merger policy which has been successful thus far. We have brought this policy for the qualitative development of financial institutions and their sustainability. The merger is not a compulsion &ndash; it is a demand of the times.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The merger policy has not only increased the investment capacity of financial institutions but also performed as the check and balance mechanism. It has also discouraged financial crime.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There are altogether 175 financial institutions, including all types and classes of banks. This is still an excess number in the context of Nepal.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Rural access is increasing with the help of microfinance companies. Until now, 35 microfinance institutions have been permitted to operate and there are more coming in.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Medium level development banks have also helped a lot to raise the rural economy and alleviate poverty in Nepal. Model banking can be the best example for development in the country.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Total deposit in the financial system of Nepal amounts to Rs 1300 billion. Out of this, only about Rs 700 billion has been invested in real estate. This shows that investment in real estate won&rsquo;t be affecting the banking system of Nepal in the upcoming days.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Bank and financial institutions have to invest at least 12 per cent in the agriculture and hydro sectors. We have also planned to invest 20 per cent in the productive sector.<br />
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Failure to implement&nbsp; Secured Transaction Act as a Problem</strong></p>
<p>
	<br />
	<br />
	<strong><img alt="rajan" src="/userfiles/images/rajan(3).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajan Singh Bhandari</strong></p>
<p>
	<strong>President, Nepal Bankers&rsquo; Association</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the Secured Transaction Act is promulgated, it has not been implemented till date. This is seen as a problem.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The task of registering collaterals should be given to the credit Information Bureau. This reduces the possibility of double investment in working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Lately, because of unhealthy competition among some banks, there have been possibilities of double exposure in a single borrower through working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The capital fund of banks is very strong. So, investment in real estate is a small amount. This will no longer create long term problems in the banking sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though there are a lot of opportunities, there is no favourable environment for investment. Deposits and loan investment have doubled in four years but there is no change in the growth rate of the banking sector which is still around 4 per cent.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There is no technical risk in the banking sector. They are expanding technical services and facilities which have benefited this sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Banks are capable of securing themselves from probable operational risks. The check and balance system of the banking sector is effective.</p>
<p align="left">
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Need Classification of Development Banks</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="krishna" src="/userfiles/images/krishna.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Krishna Raj Lamichhane</strong></p>
<p>
	<strong>President,<br />
	Development Bankers Association, Nepal</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; The main problem of development banks is its classification. There are some such banks with higher amount of paid-up capital as well as small paid-up capital. So, the issues of these banks are different. The small development banks have competition with cooperatives whereas big ones have competition with commercial banks. Thus, classification has been a major issue of development banks.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The central bank has been providing various facilities to development banks expanding branches in rural areas, but not to those which have the main office in rural areas. In fact, those banks with head office in rural areas need support and assistance. They are working with low capital and in spite of lack of skilled man power. The government should help them in risk minimization.</p>
<p align="left">
	&bull;&nbsp;&nbsp; People in rural areas are less aware about banking habits compared to urban people. Along with this, lack of skilled man power, weak collateral, lack of security and infrastructure have increased risk of banking in those areas.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the number of development banks have decreased to 86 from 88, their branches have increased to 77 which is a remarkable number.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The working area of financial institutions should be divided during the classification of banks.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>&lsquo;We are not able to regain&nbsp;the trust of customers&rsquo;</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="rajan" src="/userfiles/images/rajan(4).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajendra Man Shakya</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Finance Companies Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Finance companies are diminishing rapidly and have reached 55 from a total of 88. We simplified the procedures of financial transaction for easy access among common people and high return in the financial system, but the misuse of these systems by some of our finance company holders and operators created problems. Besides this exception, the condition of finance companies is not that bad but we are still not being able to regain the trust of people.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The largest share of investment of finance companies is in real estate. More problems were created after the Nepal Rastra Bank introduced Dynamic Provisioning.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Investment stuck in real estate has not been recovered because of high investment and lack of new sectors for investment. Interest rate is high because of high investment.</p>
<p align="left">
	&bull;&nbsp;&nbsp; &lsquo;C&rsquo; class companies are facing problems as the regulatory body has included all financial companies under the same umbrella.There are some issues which only &lsquo;C&rsquo; class companies are facing, and which should be addressed by separate regulations.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Loan recovery is also seen as a problem these days. Most finance companies invest large amounts of money on land, houses and businesses knowingly or unknowingly. Loans taken in the name of business and commerce is also being used for investing on land and houses.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We have no right of prompt decisions as commercial banks. They can increase or decrease the interest rate according to their convenience but we are not allowed a make difference on loan amount. So, customers who don&rsquo;t have access to commercial and other banks come to us. But the problem of investment is interest rate. The depositors seek higher interest rate because of high risk, and so finance companies have to collect deposits by providing high interest than that of commercial banks. Therefore, we should be giving priority to invest in sectors where the return of investment is secure.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>Problems in Expanding Microfinance Services</strong></p>
<p>
	<br />
	<strong><img alt="dharma" src="/userfiles/images/dharma.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Dharma Raj Pandey</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Microfinance Bankers Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Micro finance basically deals with poverty alleviation, providing loans without collateral in rural areas, collecting small savings and providing micro insurance services. So, it has high cost and cost reduction has been a major challenge.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Expanding services in rural areas is our responsibility. But we are facing difficulty in expansion because of limited capital and high cost. Access to rural areas, management of skilled manpower and information system has also been major problems for us.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Microfinance has to be better understood. They conduct programmes for poverty alleviation which is unlike conventional financial institutions. Beyond loans and deposits, we also focus on other activities like generating skilled manpower, helping them to make plans. We inspect during implementation of the business plan or help in accessing people and their products in the market. It heightens our cost and risk so the central bank has to support us further through monetary policy.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We are not able to expand our services throughout the country. There are still 10 or 11 districts where micro finance services are not available. Within three to five years, we aim to reach each and every district of the country.&nbsp; For this, the government has to support us in organizational development.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The government has not been able to make proper evaluation of the financial services that support sustainable development objectives. Services helping the rural people access finances should be acknowledged by the government.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The size of loan is increasing these days which has increased the risk. We have been planning to formulate self regulation.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Like any other organizations, microfinance also needs some profit as it has to satisfy its customers with return of investment, risk bearing and expansion of its services. Therefore, the interest rate is high and we are trying our level best to reduce it.</p>
<p align="left">
	&bull; Another challenge of this sector is lack of skilled manpower and poor information technology system.</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme ‘BFIs: Problems and Challenges’ was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:',
			'sortorder' => '1722',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1822',
			'article_category_id' => '153',
			'title' => 'Nepal Emerging As A Global Auto Hub',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	With the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Focusing on the booming automobile market that had been on a downward spiral for the past three years, Nepal Automobile Dealers Association (NADA) in association with the Global Exposition and Management Services (GEMS), an event organizing company, organized the &lsquo;NADA Auto Show 2013&rsquo; to promote Nepal as a good market for automobile business.</div>
<div>
	&nbsp;</div>
<div>
	The auto show, which concluded last week, showcased the passenger car, two and four- wheelers, tyres and tubes, components and sub-assembly accessories, off-road vehicles, tractors and farm equipment batteries, environment and safety equipments, &nbsp;air-conditioning, trucks and bus lubricants, auto finance, auto insurance, garage equipment and auto paints.</div>
<div>
	&nbsp;</div>
<div>
	A total of 69 exhibitors, including local as well as international brands, displayed their products and services in 100 stalls. Automobile companies from Nepal, India, China, Korea, Japan, USA, Germany and Czech Republic, among others participated in the event. The auto show this year had different sections for two-wheelers, four-wheelers and commercial vehicles to cater to the need of segmented as well as general visitors.</div>
<div>
	&nbsp;</div>
<div>
	Inaugurating the Auto Show 2013, Finance Minister Shanker Prasad Koirala said the fair could help boost the transportation sector, which is considered an essential component for improving an economy. &ldquo;The government is considering revising the customs duty on the vehicle imports following the commitment at SAFTA and World Trade Organization,&rdquo; Koirala added. He said that in spite of a lot of possibilities in the automobile industry in Nepal, this sector has not improved as expected and government is ready to support this sector.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Visitors are seen as attracted by hatchbacks as compared to any other segment of four-wheelers,&rdquo; said Shekhar Golchha, President of NADA. &ldquo;The small car segment appeals to many as it is easier to navigate through the narrow and crowded traffic of Kathmandu, not to mention to cope with the dearth of parking space,&rdquo; he added. Golchha emphasized on the preference of small cars because of jerky roads all over the valley. &ldquo;These small cars are ideal to drive in the bumpy roads of Kathmandu valley and for those who are buying a car for the first time. New brands of cars are preferred by those who change their cars frequently but the demand of small cars is higher.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 269px;" />The Current Market&nbsp;</strong></span></div>
<div>
	According to Gopi Krishna Neupane, General Secretary of NADA, the market of automobiles has increased significantly than in the previous fiscal year. &ldquo;We have almost all international brands in our Nepali market including Nepali products,&rdquo; Neupane said. &ldquo;Sales have improved this year though it had significantly dropped in the previous years. Sales of both four-wheelers and two-wheelers had gone down last year.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to data provided by the Department for Transport Management, 208,500 units of vehicles were sold in Nepal in the fiscal year 2012/13 which is an increment of 28, 000 units from the previous fiscal year. Only 1, 70, 000 units of vehicles were sold in the fiscal year 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	Neupane added, &ldquo;Around 50 national and international companies are present in Nepal and are dealing in automobiles, providing employment to around 1.7 million people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Golchha said that the annual transaction of the automobiles in Nepal has crossed over Rs 50 billion, which is encouraging the people working in the industry.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 313px;" />Problems and Challenges</strong></span></div>
<div>
	Transportation has always played an important role in the economic and social development of any state. &ldquo;But business in Nepal has been directly hindered by the massive customs duty on the import of vehicles,&rdquo; said Golchha. He also pointed out the increment of 5 per cent excise duty while entrepreneurs try to reduce the customs duty which has pushed this business backwards. He also complained about the high fuel price, the crude manner in which prices of spare parts are fixed at customs offices, and problems created through the open border as major problems facing the country&acute;s automobile sector. &ldquo;Nepal has been levying 241 percent duty, including excise duty, customs tax and VAT on four-wheelers and 80 percent on two-wheelers. This is the highest imposition of tax on automobiles in the world,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector. &ldquo;Automobiles are essential for the growth of the economy but the government&rsquo;s negligence towards this sector has been a main factor that has held it back,&rdquo; Pradhan mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Future Prospects&nbsp;</strong></span></div>
<div>
	The auto dealers in Nepal are focusing towards the expansion of this market. Lately, new brands of automobiles are being introduced to the Nepali market on a weekly basis. Auto dealers are experiencing tough competition in introducing user friendly two and four- wheelers in the market. However, along with the rise of 25 per cent in sales, positive signs are emerging to indicate that the future of automobiles in Nepal is not dark.</div>
<div>
	&nbsp;</div>
<div>
	According to Neupane, &ldquo;99.5 per cent of Nepalis do not have access to four-wheelers. With a population of 26.4 million and the number of four-wheel vehicles around 1.5 million, we arrive at the ratio of five families to one vehicle. Based on this data, there are a lot of possibilities for the automobile market in Nepal. &ldquo;Only the market of Kathmandu valley does not depict the extent of the automobile market here; there are 73 districts in Nepal facilitated by motor ways. This shows that the market is growing outside of the valley too,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/fcs3.jpg" style="width: 550px; height: 233px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-17',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.',
			'sortorder' => '1683',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1780',
			'article_category_id' => '153',
			'title' => 'Software Industries Flourishing In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country.</div>
<div>
	&nbsp;</div>
<div>
	Supporting the growth, Computer&rsquo;s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	As per &nbsp;CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years.</div>
<div>
	&nbsp;</div>
<div>
	CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. &ldquo;Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Current Business</span></strong></div>
<div>
	The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million&ndash;Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million.</div>
<div>
	&nbsp;</div>
<div>
	A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent.</div>
<div>
	&nbsp;</div>
<div>
	A raw data recently showed that there are around 300 software companies in Kathmandu valley.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increment in Outsourcing Activities</span></strong></div>
<div>
	Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.</div>
<div>
	&nbsp;</div>
<div>
	There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. &ldquo;Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,&rdquo; said Balami.</div>
<div>
	&nbsp;</div>
<div>
	Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. &ldquo;We should bring Nepali ICT professionals, who are working abroad, to our &nbsp;country with capital and technology,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. &ldquo;Many developers were running the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,&rdquo; they stressed.</div>
<div>
	&nbsp;</div>
<div>
	There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities.</div>
<div>
	&nbsp;</div>
<div>
	Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Prospects of software business</span></strong></div>
<div>
	The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Way ahead</span></strong></div>
<div>
	In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.</div>',
			'published' => true,
			'created' => '2013-09-09',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world.',
			'sortorder' => '1641',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '2013-09-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
			'sortorder' => '1582',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1699',
			'article_category_id' => '153',
			'title' => 'More Demand For Cool Air',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.</div>
<div>
	&nbsp;</div>
<div>
	Growing urbanisation, surge in corporate offices, business complexes and shopping malls have pushed the demand for air-conditioners in the domestic market in the last few years. More than a dozen brands are competing in the Nepali market to cash in the growing demand for air conditioners.</div>
<div>
	&nbsp;</div>
<div>
	Air conditioners in Nepal are mainly imported from a number of East Asian countries like China, Malaysia, Japan and many more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market currently consists of varieties including the split type and the wall mount AC to ceiling cassette models from established brands including LG, Whirlpool, Beko, Panasonic, Yasuda, Midea, Gree, McQuay, Fuji Air, Mitsubishi, Daikin and Hyundai. Also available in the market are central ACs, but their sales are limited to big hotels, corporate buildings and shopping complexes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Distributors of the product say that the market for air conditioners in the country has grown by 25 to 30 per cent since its initial days, which reflects the rise in demand for ACs among upper class consumers and a compulsion for ACs in corporate houses, hospitals, shopping malls, hotels and commercial houses. &ldquo;Consumers of AC have doubled in recent years and the sale is expected to grow as the number of hospitals, hotels and other business houses are being constructed in an appreciable way,&rdquo; says Basuki Nath Thanur, Senior Manager-Commercial AC of Airtech Industries Pvt Ltd. According to Thanur, the products are mostly used by upper class consumers from big cities rather than the middle class.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="AC Brands in Nepal" src="/userfiles/images/airq.jpg" style="
float: right; margin: 0px 0px 0px 10px;width: 300px; height: 313px;" />Brands Available in Nepali Market</span></strong></div>
<div>
	A large variety of ACs including the single split type, the wall mountain, the ceiling cassette, ceiling suspended ACs, floor sanding ACs, duck able ACs, VRF or multi split ACs as well as central ACs are found in the Nepali market. Of the brands available here, customers prefer ACs imported from China and Malaysia as they are comparatively cheaper than&nbsp;</div>
<div>
	Japanese ACs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	ACs with a capacity of 0.75 tonne, 1 tonne, 1.5 tonnes and 2 tonnes are found in the market and are targeted at brand conscious people who do not mind paying a little extra for quality and reliability. Prices in the market range from Rs 58,000 to Rs 92,000. According to a company, ACs having capacity of 0.75 to 1.5 tonnes are appropriate for home use, while those with higher capacity are appropriate for&nbsp;</div>
<div>
	office use.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increasing Demand&nbsp;</span></strong></div>
<div>
	Along with the growing market, customers demand too is on the rise. A lot of customers including the big commercial houses and hotels are moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in living standards of people and the increment of various big commercial houses has forced traders to bring in products to satiate the need of customers. A leading importer mentioned that increasing demand has turned the market fiercely competitive.</div>
<div>
	&nbsp;</div>
<div>
	Even though the price of air conditioners has increased by around 20 per cent, traders dealing with popular brands say sales have increased four-fold since the beginning&nbsp;</div>
<div>
	of summer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Of the two types of AC widely sold in the market &ndash; domestic and office-use ACs - traders say sales of the wall mount AC has spiked considerably compared to split ACs that are fixed on the ceiling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	Some traders observe that the market share of air conditioners in Nepal is mostly covered by Chinese, Malaysian and Japanese brands, among which (roughly) 40 per cent of the market is covered by Chinese brands, 35 per cent by Japanese and 25 per cent by Malaysian brands.</div>
<div>
	&nbsp;</div>
<div>
	Traders have observed rapid expansion of the AC market in cities outside Kathmandu, with Narayangarh, Birgunj, Biratnagar, Pokhara, Bhairawa, Hetauda and Nepalgunj showing encouraging growth in the use of ACs. The eastern part of Nepal showed more demand for the appliance than the western part of the country and the gap in sales between Kathmandu and the rest of the country was shown to be narrowing.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges&nbsp;</span></strong></div>
<div>
	The encouraging growth in sales aside, traders are experiencing various hurdles in this business especially since competition is high. Traders claim that quality maintenance is not fair in the market and that with a plethora of products available, duplicate products are on the rise. With the growth of unhealthy competition, duplicate products have been degrading market credibility, which is the negative sign for business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other macro factors such as political instability and the rise of the dollar can be a threat to this business too. But despite these challenges, importers and distributors seem to have plenty to get going, as demand for air conditioners does not seem to show signs of subsiding as yet.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-26',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.',
			'sortorder' => '1560',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1655',
			'article_category_id' => '153',
			'title' => 'Foreign Language Skills Will Drive The Next BPO Boom',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujit Nath</strong></div>
<div>
	&nbsp;</div>
<div>
	The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.</div>
<div>
	&nbsp;</div>
<div>
	Businesses are expanding speedily and reaching even distant corners of the globe. Rapid changes are occurring in the way business transactions are conducted. Boundaries &ndash; physical and linguistic &ndash; are hence being naturally broken.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Globalisation has brought countries closer to each other, and there is now increased interaction between them. In such a scenario, knowledge of a foreign language shall go a long way in enabling improved communication and understanding.</div>
<div>
	&nbsp;</div>
<div>
	To attract more students many institutions are getting associated with coveted institutes such as Max Mueller, Alliance Francaise to ensure the holistic development of the students in terms of languages, which will help them in shaping their career in future.</div>
<div>
	&nbsp;</div>
<div>
	We all know that the best age for a child to pick up a foreign language is when he or she has attained an age of 6-8 years. But with working parents it is not always possible for them to go to such language schools. This is because of the time and budget constraints of their parents. Therefore, many of them are offering customised course classes to suit the timing and budget.</div>
<div>
	&nbsp;</div>
<div>
	A senior executive of Mafoi, a leading Indian placement agency that works for most Fortune 500 companies, says, &ldquo;Our clients have BPO assignment deals not only from France and Germany, but also from Belgium, Netherlands and other countries where these two languages are spoken. Speaking in their language gives confidence in the minds of the foreign clients with regard to their overseas BPOs for it shows that they are well-equipped to handle foreign business. This also helps in building personal rapport for knowledge of a common language, which definitely helps break communication barriers&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	On the context of students or professional from Nepal, she said, &ldquo;I have interviewed many girls from Nepal who has earned expertise in foreign language and doing quite well in USA, UK, Germany and Spain. Most of them were good at Spanish, French and German&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	She feels that Nepal has a great potential and especially the youths, who are talented enough to take up any challenges abroad. &ldquo;They are a good professional,&rdquo; she said.</div>
<div>
	&nbsp;</div>
<div>
	Mainak Sen, who stayed in Nepal for long time and settled in Germany, said, &ldquo;In my college days in Nepal, learning foreign language was not so popular. But I learned the language, which helped me a lot in mingle with the local culture in Germany and my profession. I have many friends in Nepal whose children prefer to learn atleast one foreign language as per their future career plan&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Jackson Subedi, Director of Alta Vista, &nbsp;exclusive Spanish Language School in Nepal which was founded in 2006, said, &ldquo;In this fast changing global scenario language skills, and particularly the knowledge of European languages, provide a great advantage to youngsters seeking career opportunities in the ever shrinking and increasingly globalised new world order&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	It is not only the love and thrill of learning a foreign language alone that brings these youngsters at these foreign language teaching institutes. They are there because they feel that knowledge of a foreign language other than Nepali and English will give them a passport to a whole new world of opportunities and career options, where their language skills will count a lot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, Prasanna, who learned Spanish in Nepal, believes that his knowledge of the Spanish language will come in handy not just in Spain, but also in USA and Latin America &mdash; where this language is extensively used. &ldquo;The language helped in enhancing my portfolio,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, according to Jackson, the Director of Alta Vista, there are students who wants to learn the foreign language to become tourist guide, which they feel is another sector which is booming every day.</div>
<div>
	&nbsp;</div>
<div>
	But how will knowing a foreign language help them in their careers?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The focus on creating a personalised business environment has meant that even professionally qualified people feel the need to upgrade their qualifications to stay competitive in the employment race. Multinationals, IT companies and BPOs in the country not only look for people with required technical qualifications but also those with linguistic skills.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;Learning Foreign language does make a difference and candidates knowing Spanish, French or German are definitely at an advantage during recruitment. But I personally feel that in Nepal the demand for learning Spanish is higher among the Nepali students&rdquo;, says Anup Satyal, a well known Spanish language teacher in Nepal.</div>
<div>
	However, some students are opting for Germany because the their education is bit cheaper and widely spoken in Austria, part of Switzerland and in most East European countries such as Poland, the &nbsp;Czech republic, Hungary etc. But there is a significant number who also think it shall be very useful, in terms of their career even in India.</div>
<div>
	&nbsp;</div>
<div>
	There is an increasing demand for linguistically skilled people even for interpretation and translation of technical documents, transactions and e-mails. Some opt for multiple foreign languages, for wider look in other countries to get more opportunities.</div>
<div>
	&nbsp;</div>
<div>
	Another factor for Nepali students opting for multiple foreign languages the USA is no longer the only preferred destination, as several youngsters as seek employment in Europe. There are also many who seek employment in countries such as Canada (Canadian immigration authorities insist on a French language certificate), and in the once-French and German colonies of Africa, where knowledge of French and/or German is extremely beneficial.</div>
<div>
	&nbsp;</div>
<div>
	In coming years youngsters from Nepal will shine more in other countries and proved to a great workforce.</div>',
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			'description' => 'The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1610',
			'article_category_id' => '153',
			'title' => 'Growing Market For Cosmetic Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Similar to the hundreds or perhaps thousands of grocery stores around town, there are cosmetic shops set up at every nook and corner of Kathmandu. From departmental stores to local beauty parlours, there is no dearth of cosmetic products for potential customers.</div>
<div>
	&nbsp;</div>
<div>
	Cosmetics products are mainly imported from abroad. Nepal gets its cosmetics products of various brands from a number of different countries. Needless to say, like other imports, a significant share of cosmetics products available in Nepal are manufactured in India.</div>
<div>
	&nbsp;</div>
<div>
	The market for cosmetics products has been growing quite significantly over the last few years. The availability of cosmetics products has increased appreciably and the consumption ratio too has increased with each passing year. The market boasts of leading cosmetics brands from the world. The domestic market for cosmetics products has come a long way as well with top notch global brands and established names from neighbouring countries available in the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the market for cosmetics products in the country is growing at about 25-30 per cent. They attribute the rise in demand for cosmetics products to the growing middle class and awareness about personal image and hygiene, which has resulted in greater spending on beauty and personal care products. &ldquo;The market for cosmetic products in Nepal is very good. It is showing continuous growth,&rdquo; an importer said, adding that people have become fashion conscious and do not mind spending on cosmetic products. According to him, the sales of cosmetics product are good in the cities as well as small towns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Brands Galore</span></strong></div>
<div>
	The domestic market features products of around 80 cosmetics brands including international brands like Lakme, L&rsquo;Oreal, Garnier and Emami as well as Mac&rsquo;s Lavera, Nova, Chase, Astaberry, Lotus, Ayur, Ole and Aroma Magic. Products from third countries were the top sellers until a few years ago but that scenario has changed. Approximately, 80 per cent of the cosmetic products sold in Nepal currently are imported from India. Other countries that Nepal imports cosmetic products from include China, Singapore, Thailand, UAE and Europe.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Nepali people are slowly understanding the importance of beauty and personal care products,&rdquo; observed another trader. While cosmetic products used to be considered a luxury until a few years ago, they have turned into a necessity today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Demanding Customers</span></strong></div>
<div>
	Along with the growing market for cosmetic products, customer preference is changing drastically. People are demanding products as per their need in contrast to the past when customers used to simply buy products were available in the market. A lot of people are also moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in awareness due to the media has forced traders to bring in products to satiate the need of choosy and demanding customers. A leading importer remarked, &ldquo;The awareness level of customers has turned the market fiercely competitive.&rdquo; &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though women still make up more than 80 per cent of the customers, the number of male customers is growing. The entry of products designed for men in recent years has helped the market grow significantly. Men&rsquo;s products such as after shave, deodorant, perfume, hair gel and skin care items are popular among male customers.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	According to an estimate, medium range cosmetic products enjoy a market share of around 60 percent while the premium brands hold around 30 per cent share with the low-end segment garnering around 10 percent of the market.</div>
<div>
	&nbsp;</div>
<div>
	Traders are now giving special attention to all kinds of markets in the country. &ldquo;Around 60 per cent of the market for cosmetic products within the Kathmandu Valley,&rdquo; a trader said. Besides Kathmandu, consumption of cosmetics products is high in places like Pokhara, Dharan, Itahari and Butwal. The gap in sales between Kathmandu and the rest of the country is narrowing so much so that the ratio can come down to 50-50 not too far in the future.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Driving Factors</span></strong></div>
<div>
	Cosmetics are an addiction among Nepalis, commented a store supervisor at a leading cosmetics store. She said that around 10 to 12 new brands enter the market every month and still, all of them manage to survive. She attributes this to the influence of western lifestyles and persuasive television programmes and cinema that have helped to push up the sales figures of cosmetics products. Consumption of cosmetic products is high in the rural market as well with remittance playing a crucial role.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Customers living in small towns too have become more selective. People who used soaps for all purposes earlier are now shifting to products like shampoo and face wash. &ldquo;An increase in the population in semi-urban and urban market places too has helped in the growth of sales for cosmetics products,&rdquo; observed an industry insider.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A change in the mindset of people has led to increasing demand for cosmetic products among male customers. While males in urban areas started using cosmetic products quite some time ago, rural males have started to use them recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges</span></strong></div>
<div>
	The encouraging growth in sales and turnover aside, traders are not happy with the way things are. They say that inconsistency of rules and procedures at the customs had slowed the growth of the market. An importer complained that traders are forced to declare higher prices at the customs by the officials. He says that they are thus compelled to sell products at a higher price due to the high import duty.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Duplicate Products</span></strong></div>
<div>
	With the plethora of products available in the market, complaints about duplicate products are also on the rise. Cosmetics products with similar labels and packaging has become a pertinent issue for all cosmetics users. The separation of duplicate products from original ones is almost impossible without proper government regulation.</div>
<div>
	It is hard to decide on the right one due to the availability of brands that claim to be original. However, one can avoid usage of unnecessary and harmful chemicals with long-term consequences on the health of one&rsquo;s skin by taking precautions and advice from experts.</div>
<div>
	&nbsp;</div>',
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			'description' => 'There are plenty of cosmetic stores in Kathmandu and all of them seem to have their own set of customers to deal with. Cosmetics business is considered to be among the most thriving businesses in the capital.',
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		'Article' => array(
			'id' => '1564',
			'article_category_id' => '153',
			'title' => 'Convenience Stores Target Expansion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<p>
	<strong style="font-size: 12px;">--By TC Correspondent</strong></p>
<div>
	<div>
		Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Convenience stores are a successful business in western countries,&rdquo; a manager with the Chaudhary Group promoted CG Mart remarked, adding, &ldquo;We are confident that the idea is bound to pick up in Nepal too.&rdquo; The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The Shift&nbsp;</strong></div>
	<div>
		The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. &ldquo;Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,&rdquo; said an observer.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&lsquo;Single shutter&rsquo; cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree&nbsp;</strong></div>
	<div>
		The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart also plans to develop convenience stores in a franchise style. &ldquo;Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,&rdquo; said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. &ldquo;We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,&rdquo; a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company&rsquo;s strategy to expand into neighbourhood regions. &ldquo;Our aim is to reach out to as many places as possible for the convenience of our customers,&rdquo; he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players&nbsp;</strong></div>
	<div>
		CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Store Locations&nbsp;</strong></div>
	<div>
		Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. &ldquo;We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Target Market&nbsp;</strong></div>
	<div>
		&ldquo;We are mainly targeting new and affluent suburbs of Kathmandu,&rdquo; said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The &lsquo;Chain&rsquo; Effect&nbsp;</strong></div>
	<div>
		A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.',
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			'title' => 'Dip In Mercury Raises Heater Sale',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	K<span style="font-size: 12px;">athmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm. Demand for heaters in local market has gone up significantly and traders in the niche are glad. With winter setting in early this year, it has led to greater trade than last year during the same period. An early surge in heater sales has flamed corresponding expectations of higher profit this season.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market status</strong></span></div>
<div>
	Market of winter-comforting materials like heater, blankets is always relational to the wintry spell. Since the spell started earlier this time, till February traders are expecting substantial trade of these products. Most of Nepali consumers rely on Chinese winter-warming products. Chinese products dominating Nepali market due to their affordable prices. However, internationally renowned home appliance brands like the Black &amp; Decker, Yasuda, Electron, et cetera, are also competing in the niche. These brands have introduced a series of electric and non-electric heaters in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhaskar Munankarmi, Assistant Manager at Him Electronics, authorized dealer of Samsung in Nepal, said that most heaters in Nepali market are Chinese and that consumers prefer them primarily for the affordable prices. &ldquo;We have been selling both Halogen and gas heaters of Smsungamong which the demand of gas heater is more due to expected long hours of power outage,&rdquo; Munankarmi added.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The sale of the heaters is expected to increase by 30 per cent than that of previous year till the peak of winter season,&rdquo; he said that adding that &ldquo;The prices of the heaters have also increased by 20 per cent than that of previous years due to rise in the price of foreign exchange.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Heaters in Nepali Market</strong></span></div>
<div>
	In Nepal, halogen, quartz, fan, kerosene and LPG heaters are widely preferred. Halogen, quartz and fan heaters are basically variants of electric heating devices. Halogen heaters are available in two- and three-rod types. Price of Chinese two-rod halogen heaters starts from Rs 1765, while the three-rod variant starts at around Rs 2200.</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the demand of gas heater is increasing in the market as compared to the halogen and kerosene heaters. &ldquo;As it can be operated even during load shedding hours and can heat up a room more effectively in short time, gas heaters are more popular,&rdquo; said Ishwor Dangol, proprietor of Asan based Ishwor Store. &ldquo;It is now displacing the traditional electric heater and kerosene heater,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market offers gas heaters with three burners. Once heated, the burner, made up of ceramic clay and lime, releases heat for a long time.</div>
<div>
	&nbsp;</div>
<div>
	A single heating burner with a capacity of 1.4 kilowatt can release up to 4,000 watts of heat at its full efficiency level. Dangol said a gas heater can heat a room with an area of 20-80 sqm, provided all the three burners are lighted. &ldquo;The infrared and fast heating systems fitted in the heater warms the room in a short time, thereby using less &nbsp;energy,&rdquo; said Dangol.</div>
<div>
	&nbsp;</div>
<div>
	Bikash Maharjan of Ganapati Store in Mahabauddha said a cylinder of LPG can fuel a gas heater for 90 to 100 hours with all the three burners lighted.</div>
<div>
	&nbsp;</div>
<div>
	Apart from the normal gas heater, the market also offers hybrid ones that use both LPG and electricity. Electric segment of the hybrid heater comes with three halogen rods or heating fan. &ldquo;The demand for the hybrid heater is also on the rise as it allows people to use the electric heater also,&rdquo; said Maharjan.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A normal gas heater costs between Rs 5,500 and Rs 6,000, while the hybrid one is available for Rs 7,500 and above. A one-year warranty is also offered in the products,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Heater Brands in Nepal" src="/userfiles/images/fc1%20(Copy).jpg" style="width: 550px; height: 274px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Brands in Nepali Market&nbsp;</strong></span></div>
<div>
	Internationally acclaimed home appliance brands like Black &amp; Decker, Yasuda, and Electron, among others, are competing in Nepal heater segment market. Though Chinese heaters are widely preferred by the Nepali customers, dealers of these international brands are hopeful of a fair share of the market for their products.</div>
<div>
	&nbsp;</div>
<div>
	Anil Sethia, Managing Director of Universal Trading Centre (UTC), a subsidiary of Lucky Group, the authorised distributor of Black &amp; Decker, says, &ldquo;We brought in electric heaters five years ago and currently we are the leaders when it comes to branded heaters, as the rest of the market is dominated by Chinese products.&rdquo; While determining actual market share of their product remains difficult, he informed that they sell around 1,000 units a year.</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Electron Appliances &mdash; an Australian brand established over 20 years ago &mdash; has been competing in the Nepali market since a decade. Amit Taparia, Manager at Electron International Private Limited, a professional household appliance company marketing the brand&rsquo;s appliances in Nepal, says, &ldquo;We have heaters in quartz, halogen, fan and gas models in the two- and three-rod segment. Capacities of our models vary from 600 to 1,200 watts. We also have a two-in-one gas cum electric heater.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to him, consumers are shifting away from traditional quartz to halogen and fan variants, though the latter are mainly used for office purposes. &ldquo;The sales of LPG heaters is also catching up with electric variants, as they can be used during power cut hours. This is the reason we occupy 20 per cent of the market share among branded heaters,&rdquo; says Taparia, though he argues that disclosure of price is difficult and may vary from one retailer to other.</div>
<div>
	&nbsp;</div>
<div>
	With Chinese products dominating the market, dealers in branded ones are reluctant to disclose the price and sales growth. However, they uniformly agree that the market is growing. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anil Goenka, Operation Manager of Triveni Byapar Company Limited, authorised distributor of Yasuda, says, &ldquo;Yasuda, an affordable brand introduced in Nepal just three years ago, is witnessing an average growth of 30 per cent every year. Targeting the middle class segment, we provide six models of halogen heaters. Five of our models belong to three-rod segment while one has two rods.&rdquo; Like Taparia, Goyenka also finds it difficult to reveal prices and annual sales of company products. He claimed that the brand enjoys 15 per cent of the market share among branded heaters. Goenka adds, &ldquo;Remote control feature and smooth rotation adds to the good looks that our products flaunt, making us the preferred choice among prospective buyers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospects of the Market</strong></span></div>
<div>
	Traders opine that the market of heater in Nepal is flourishing. Especially in Kathmandu where the climate tempts people to buy heater to avoid chilling winter cold. As a warm home in winter makes everything better, heater-traders expected equally&nbsp;<span style="font-size: 12px;">heated sales.&nbsp;</span></div>',
			'published' => true,
			'created' => '2013-11-26',
			'modified' => '2013-12-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Kathmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm.   Demand for heaters in local market has gone up significantly and traders in the niche are glad.',
			'sortorder' => '2017',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2122',
			'article_category_id' => '153',
			'title' => 'Glittering And Glowing Jewellery Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Suraksha Adhikari&nbsp;</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items. &ldquo;These days people prefer unique and light weight jewellery over heavy and classic designs,&rdquo; said Mani Ratna Shakya, President of Federation of Nepal Gold and Silver Dealers&rsquo; Association (FENEGOSIDA).</span></div>
<div>
	&nbsp;</div>
<div>
	Once a symbol of prestige and prosperity, the charm of jewellery has not decreased yet but it has been an integral part of our society. Though the trend of jewellery has changed, it still denotes affluence of a family. Shakya said, &ldquo;The trend of placing orders has almost vanished as people now go for readymade products in the market.&rdquo; For Nepalis, jewellery is a tradition. The way people flaunt jewellery has changed over the period, but the charm hasn&rsquo;t changed and will never change, he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The shift in consumer preferences is evident with the fact that the number of branded and designer jewellery stores in the Kathmandu valley has increased many folds over the last two-three years, changing the way Nepalis shop for jewelries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	&ldquo;The leading metal in Nepali society, gold covers 75 per cent of the Nepal market because of its traditional and religious importance,&rdquo; said Tej Ratna Shakya, Former-President of FENEGOSIDA. Small amount of gold can be expanded to form large jewelleries and gold is an essential part in Hindu society during rituals ranging from birth and death of a person because of which the importance of gold has not decreased in our society. &nbsp;&ldquo;Though the sales volume of jewellery has come down because of the high price, the increase in the price of the yellow metal with various designs during the festival season has compensated the loss,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market demands estimated 35-40 kg gold per day but the government ceiling of importing only 15 kg per day has hindered in meeting the demand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;The annual revenue from the jewellery to Nepali government reaches around Rs 3 billion excluding the insurance and other additional income.&rdquo; He added, &ldquo;Around 5,400 kg of gold is imported and one kg of gold yields Rs 5,20,000 revenue. The revenue from gold four years ago was Rs 70 million with a rate of Rs 13, 000 per kg.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;After gold, silver occupies second position in Nepali market covering 25 percent of total jewellery.&rdquo; Shakya said. He added, &ldquo;Diamond market has been gradually increasing in Nepal showing higher opportunities to the traders.&rdquo; &nbsp;Before 4-5 years the sale of diamond was not even 10 per cent of total jewellery trade, but now a days people prefer diamond jewelries to heavy and classic gold jewellery. Shakya explained, &ldquo;Some years ago, diamond was only bought by upper higher class people but the trend of middle class people wearing diamond rather than yellow metal has made a significant improvement in recent years.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">The growing market size has also prompted traders bring in branded jewellery and come up with their own brands. While Shree Riddhi Sidhi has launched two brands Ashwarya and Akabari, other prominent stores like Gem House has introduced Swarna and Arsi brand jewelleries.</span></div>
<div>
	&nbsp;</div>
<div>
	The annual growth of the jewellery market is around 15-20 per cent at present but this growth is limited only up to this as the government has not revised its provision to import only 15 kg of gold per day while the demand of the gold is much more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Import-Export&nbsp;</strong></span></div>
<div>
	According to Tej Ratna Shakya, the government has permitted to import 15 kg gold on daily basis in Nepal. &ldquo;The raw material for gold is imported up to that ceiling but readymade jewelries are imported less in comparison to the raw material as the ready-made jewelleries have to pay 10 per cent custom duty,&rdquo; Shakya added. Only some of the big companies import the ready-made sets despite heavy custom charges, he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Talking about the export, Shakya said that though the jewellery market has not been able to make remarkable change, it nonetheless is slowly spreading its outreach. Some of the jewellery companies have opened their outlets in foreign countries. &ldquo;RB Diamond has opened its outlet in United States whereas Baraha Jewellery has its outlet in London and some have their outlet in Australia and so on,&rdquo; he further added.</div>
<div>
	&nbsp;</div>
<div>
	Apart from gold and silver, there is also high demand for Nepalis&rsquo; handcrafted jewelleries in the international market. &ldquo;Most of the gems in Nepal are used for silver jewelleries that are exported to Europe and America,&rdquo; said the traders. The handcrafted jewelries are very famous and liked by the Europeans and Americans. They are exported in different designs like earrings, rings, necklaces, pendants, bracelets, brooch, bangles and different articles embedded with precious stones.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Diamond is the most important precious stone in terms of value that generates a larger volume of revenue and business internationally,&rdquo; said Mahesh Man Shrestha, owner of Gahana Griha. Even in Nepal, diamond jewellery is more popular and in demand than other gemstones, added Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Jewellery certification</strong></span></div>
<div>
	Jewellery certification plays a vital role in the business. There are labs all over the world that identify and grade gemstones, however, it&rsquo;s not an established trend in Nepal yet. Shakya said, &ldquo;Since the jewelleries of Nepal are not exported to international market, the certification has not been an issue till now.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the trend is being established slowly. He added, &ldquo;RB Diamond Jewelers is taking an initiative to change this by introducing GIA (Gemological Institute of America) Certification for gems and jewelries in the near future.&rdquo; These certificates are internationally recognized and honoured and known for grading precision, technology, research and other important factors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospect of the market</strong></span></div>
<div>
	The jewellery market of Nepal is providing employment opportunities to around 50,000- 60,000 people at present. Nepal&rsquo;s jewellery market has a very bright future prospect. &ldquo;The growth in the market can be noticed through the rise in the number of gold stores,&rdquo; said Shakya adding that the profit margin of individual stores might have fluctuated, but the overall market is growing. The penetration of Nepali jewellery in Europe can develop the market in broader way with greater exposure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	There are many issues related to the jewellery market. Foremost is the lack of proper policies and regulations related to the production and other issues related to the market. Mani Ratna Shakya said, &ldquo;The government inspects and charges our shops without any proper policies and we are still unaware about the framework of our working area as government has not prepared any regulations.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Traders say the unavailability of raw material, lack of awareness among sellers and buyers, security risk and lack of skilled manpower have hindered the industry&rsquo;s growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;We can easily get a million dollar order from the US at present. Several American importers are interested in Nepali jewellery but we have not been able to export. Once we have the same export provisions as in India, the export of our jewellery will increase significantly. Therefore, the government should ease the export of jewellery.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Over 80 percent of the skilled manpower working in Nepal come from India and other countries. &ldquo;We are not being able to generate skilled manpower within the country and this might cause a huge problem in the days to come,&rdquo; said Shakya adding that this can degrade the quality of the jewelleries.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/jewellry%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
			'modified' => '2013-11-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items.',
			'sortorder' => '1982',
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	(int) 2 => array(
		'Article' => array(
			'id' => '2046',
			'article_category_id' => '153',
			'title' => 'Two-wheelers Getting More Riders',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the arrival of the main festivals in Nepal, the mob of people is seen around the motorcycle showrooms to grab the offers and schemes provided by various companies on the occasion of festivals. Adhir Kumar Shrestha, Assistant Managing Director of V.G. Automobiles Pvt. Ltd said that the sale of motorcycles has increased to double following the offers. This company has already sold around 1,200 units of motorcycles in short span of being authorized dealer of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shekhar Golchha, President of the Nepal Automobile Dealers&rsquo; Association (NADA) said that the size of the market increases during the festival season because of the trend of buying new things during the special occasions. He said, &ldquo;Around 20 to 50 per cent of total sale of two wheelers on Nepal is during Dashain.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added, &ldquo;The first choice of people after having some amount of money is automobile and Dashain is the most suitable occasion for the people to buy new things in the family.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The road widening drive in Kathmandu and other cities in the country started some time ago. However, most roads still await completion. &ldquo;Having wide roads will definitely have a positive impact on the industry,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	After the continuous dropdown of the two wheelers market for more than two years, the market has again picked up the pace. As per the data of Department of Transport Management the import of two-wheelers rose 22 percent in the first nine months of the fiscal year compared to the same period last year.</div>
<div>
	&nbsp;</div>
<div>
	Analyzing the data of past one decade, the motorcycle segment has witnessed a very impressive growth. The number of two-wheelers has grown from 26,547 in fiscal 2003-04 to 175,381 in fiscal 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	One of the largest players in the two-wheeler scene in the country, HH Bajaj, reported that they had witnessed a growth in sales of more than 40 percent. The company has so far sold around 30,000 units of two-wheelers. Shekhar Golchha, executive director of HH Bajaj, said that the reason behind the increase in sales was the bounce-back effect afterv a huge fall.</div>
<div>
	&nbsp;</div>
<div>
	The enormous growth the two-wheeler segment has been witnessing annually has been spreading to areas outside the capital city. While the market for two-wheelers has come to a saturation point in the Kathmandu valley, sales outside the valley have seen a massive growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Factors in Increasing Sales</strong></span></div>
<div>
	The easy availability of auto loans at a lower interest rate compared to the past few years has contributed to the growth in auto sales. Currently, finance companies are offering auto loans in the range of 9.5 to 12 percent interest. &ldquo;As two-wheelers are the means of transportation of the general people, easy availability of finance has played a positive role in the increment in sales,&rdquo; Golchha said. Meanwhile the sales of two-wheelers had increased as public transportation isn&rsquo;t reliable in the country. Launching of schemes by motorcycle dealers round the year and new model rollouts too have aided growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Problems and Challenges</strong></span></div>
<div>
	Traders say that the license distribution system of Transportation Management Department is capital centric which has been creating problem to the license holder outside the valley. This has been degrading the sale as the facility of trial for two wheelers is only in Pokhara and Kathmandu after the upgrade of license distribution system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector.&nbsp;</div>',
			'published' => true,
			'created' => '2013-10-28',
			'modified' => '2013-11-11',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.',
			'sortorder' => '1938',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1992',
			'article_category_id' => '153',
			'title' => 'A Click Here And A Market There: The Growing Camera Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Everyone has memories &mdash; bitter or sweet. With time memories tend to fade, but if you want your memories to sweeten as they age then thank technology &mdash; the camera is at your service.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that because of the festive season, the sale of cameras - be it digital or SLR have been increasing. The camera is being recognized as a necessary gadget in today&rsquo;s context. Its significance has increased much in festivals. People prefer cameras to capture moments of joy and during festivals and other occasions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growing Trend</strong></span></div>
<div>
	There are a variety of cameras in the market including digital cameras and high resolution single lens SLRs. Digital cameras are preferred by people as it is easy to carry and easier to handle. Similarly, DSLR cameras are used by people for better quality pictures or to cover wider shots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the advantages of the digital camera is that there is no limitation in the number of pictures that can be taken. Along with this, the pictures captured can also be transferred to computers and can be developed according to the wish and feasibility of the people. People prefer digital cameras to analog cameras as they cannot capture the picture more than the number set in the photographic film. Traders say that the increasing trend of these digital cameras have an effect on the sale of branded cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The growing market of digital cameras clearly shows the growing interest of people towards it. Traders opine that digital cameras have a lot of opportunities in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Camera" src="/userfiles/images/FOCUS1.jpg" style="width: 550px; height: 347px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Brands Available in the Nepali Market</strong></span></div>
<div>
	With a large variety of cameras in the Nepali market, some famous brands available in the market are Canon, Sony, Samsung, Philips, Panasonic, Nikon and others. &nbsp;All authorized dealers of these cameras in the Nepali market have introduced new model cameras during the festive season with a series of offers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market is full of stores that deal in digital cameras of different brands. &nbsp;Stores in New road like Galaxy Photo, Royal Traders, New Amber Impex, Digital Camera Spot and more deal popular brands like Nikon, Canon, Sony, Samsung, Fuji, Olympus, Panasonic and Kodak for compact digital cameras with one year warranty. These stores also sell professional Digital Single Lens Reflex Camera (DSLR) of all brands mentioned.</div>
<div>
	&nbsp;</div>
<div>
	Primex International - Canon&rsquo;s authorised dealer in Nepal; Him Electronics - authorized dealer of Samsung in Nepal; and NepaHima Trade link - authorized dealer of Sony have introduced a new model of respective cameras on the occasion of Dashain and Tihar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	New Amber Impex also has camera accessories of brand UBCX such as camera bags, tripod, camera case, filter and more as per the requirement of the customers. About the cameras found in Galaxy Photo Mukesh KC, a staff at New Amber Impex informs, &ldquo;The products are from Singapore whereas the brands are Japanese.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Most products at these stores are from local authorised dealers where Purushottam Thapa, staff at Royal Traders shares, &ldquo;The brands are all Japanese and the cameras are assembled in China.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	There are various kinds of digital cameras available in these stores in Kathmandu where the customers can opt for simple portable compact digital cameras as well as professional DSLRs. According to Sunil Goel, staff at New Amber Impex the brand Sony also has water proof compact digital camera.</div>
<div>
	&nbsp;</div>
<div>
	There are various series where the function and system varies accordingly and he adds, &ldquo;In the compact digital camera of Sony WX50, you can get a panorama function for a wider view and a 3D movie function as well. Likewise, in compact digital cameras of Cannon IXY420F, you will get high mega pixels, full HD, Image Stabiliser with Wifi and a touchscreen.&rdquo; Shopkeepers say that while purchasing a camera one must look into the print order that compact digital cameras offer rather than high megapixels. The quality of print depends upon the print order where Sony has A3 size print order, Cannon has A2 and Samsung has A1.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In portable digital cameras, you can get colours as per your wish ranging from silver, black, pink, blue and more. &ldquo;The camera must have cases or bags. And while handling a compact digital camera, it would be better if you use the strap of the camera while using it,&rdquo;says KC from New Amber Impex.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status in Nepal</strong></span></div>
<div>
	The customers are interested in digital cameras as they can get a high resolution camera in relatively cheaper prices. At a minimum price of Rs 7000, people can get cameras with a focus of 8 megapixels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The traders say that in comparison to the brands of other countries, customers prefer the brands of Japan and Korea. Digital camera of Sony from japan is popular in Nepal. Dinesh Agrawal, Sales Manager of Primex International says that this brand is more popular in the Nepali market as it has various new features in comparison to other old model cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly the price of the digital camera is also decreasing because of high competition between various brands of cameras. These cameras attract customers because of their portability, easy handling features and various features with&nbsp;</div>
<div>
	high quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges</strong></span></div>
<div>
	Encouraging growth in sales aside, traders are experiencing various hurdles in this business. Though the competition is very high, traders claim that quality maintenance is not fair in the market. With the plethora of products available in the market, complaints about duplicate products are also on the rise. The growth of unhealthy competition and duplicate products that degrade market credibility is one of the few negative aspects in this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Photo Shop" src="/userfiles/images/FOC.jpg" style="width: 575px; height: 207px; margin-left: 15px; margin-right: 15px;" /></div>',
			'published' => true,
			'created' => '2013-10-21',
			'modified' => '2013-10-28',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.',
			'sortorder' => '1880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
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	),
	(int) 4 => array(
		'Article' => array(
			'id' => '1951',
			'article_category_id' => '153',
			'title' => 'Opinion: ‘Possibilities Of The Commodity Market In Nepal’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size:14px;">The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;The possibilities of Commodity Market in Nepal&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. Experts from the commodity market presented their opinion on the current status of this sector. <strong>Excerpts:</strong></span><br />
	<br />
	<img alt="Paristha Nath Poudyal ,Director, Securities Board of Nepal (SEBON)" src="/userfiles/images/pnp.jpg" style="width: 150px; height: 188px;" /></p>
<p>
	<strong>Paristha Nath Poudyal<br />
	Director, Securities Board of Nepal (SEBON)</strong><br />
	<br />
	&bull; The budget of 2070/71 has fixed that the regulation of the commodity market will be done by the Securities Board of Nepal (SEBON). For implementing this decision we have received a working procedure from the Ministry of Finance. We have been directed to submit an ordinance or some legal works to the ministry by mid November.<br />
	&bull; We have already completed two levels of discussion for this. We are improving the market first and then regulating it.<br />
	&bull; We have been studying the regulatory process of various countries like India, Singapore, Hong Kong, United Kingdom and others. We will develop the regulation process according to the context of our country by discussing with stakeholders and studying all other countries&rsquo; regulations.<br />
	&bull; The regulatory body is just a facilitator and we will work accordingly.<br />
	&bull; Rather than the board, the issues related to regulations should be a matter of concern to the government and it should not delay the task.<br />
	&bull; Training for investors is essential. This year we have planned to establish the &lsquo;Capital Market Research and Training Institute&rsquo;. This effort is meant for developing the skills of investors.</p>
<p>
	<br />
	<br />
	<img alt="Dipendra Khatiwada" src="/userfiles/images/dk.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Dipendra Khatiwada<br />
	Managing Director, Mercantile Exchange Nepal (MEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The major necessity of today&rsquo;s market is regulation. We have been requesting the government for the formation of regulations from a long time. Regulations develop assurance and build trust among the public.<br />
	&bull;&nbsp;&nbsp; &nbsp;Regulations are not complete in themselves. They should be formed in such a way that they can support exchange companies as well as develop credibility among people.<br />
	&bull;&nbsp;&nbsp; &nbsp;Gold imported to Nepal is not of high quality. Though the gold is said to be of triple line, we should examine whether they are really of that standard. Such checks develop credibility in customers but Nepal does not have such facilities.<br />
	&bull;&nbsp;&nbsp; &nbsp;We do not have the mechanism to verify the quality of goods. If those mechanisms are in places, we can import any goods. Laws should be practical and only goods that can be verified should be imported.<br />
	&bull;&nbsp;&nbsp; &nbsp;There is no investment friendly environment in this market. The willpower of investors has decreased. So the establishment of a warehouse in Nepal is not possible for at least 5 years. Only the regulatory body can bridge the gap.<br />
	&bull;&nbsp;&nbsp; &nbsp;Other financial instruments can be promoted in this condition. Commodity is itself a financial instrument. Hazing platform, price discovery and price dissemination can be developed in the form of financial instruments.<br />
	&bull;&nbsp;&nbsp; &nbsp;Without the will power of the government, people from the outside the government cannot do anything. The government is unable to decide on the issue of formation of regulation for the commodity market which has created problems.<br />
	&bull;&nbsp;&nbsp; &nbsp;We are dealing with exchanges only in our market. Supply and distribution is not possible in such a situation. In international practice too it is seen that in the exchange process, 5 per cent win and 95 percent lose. This reality should be realized by investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;There are frequent transactions happening in the market. Though the quantity has decreased, the quality of transactions has increased and increase in quality is more essential than quantitative increment.</p>
<p>
	<br />
	<br />
	<img alt="Ram Sharan Upreti" src="/userfiles/images/rsu.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Ram Sharan Upreti<br />
	General Manager, Everest Commodities Limited</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The problems of the commodity market have been divided into three parts. The foremost problem is the failure of the government to formulate policies; secondly, there is no uniformity in the working policy of commodity exchange companies; and thirdly, the investors are not properly educated about this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Concerned stakeholders have been discussing issues of the commodity market from the very beginning and stakeholders have been raising their voice regarding this issue. But the government is not showing its concern on this matter. The commodity market has a significant position but the government has not raised any issue regarding this market at discussions of the economy of the country.<br />
	&bull;&nbsp;&nbsp; &nbsp;The failure of conducting a proper exchange operation module is also a problem in this market. There are 10 exchanges operating in the market with different trading modules.&nbsp; Presently, there are two-three types of trading module in Nepal. These modules have different trading and pricing processes which has cause confusion among customers. An appropriate module for the market has not been identified yet which has minimized scope of new opportunity for investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;Lack of proper awareness among investors on the commodity market is also a major problem in this sector. This market has been famous as a glamorous sector. Because of the same reason, the market reached its peak in a short period and did not take long to fall. The people have just understood it as an exchange market.<br />
	&bull;&nbsp;&nbsp; &nbsp;People who do not have proper knowledge come to this market and because of them, the market loses credibility.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market has been in operation for six years. But till date, real investors and organizational investors have not entered the market. Exchange companies have not been able to do something significant in the derivative mechanism.</p>
<p>
	<br />
	<img alt="Santosh Pradhan,Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/ssp.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Santosh Pradhan<br />
	Chairman, Nepal Derivative Exchange (NDEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Commodity exchange is not complete in itself. There are various factors responsible to run this market smoothly. In the context of Nepal, actual commodity exchange has not been practiced yet.<br />
	&bull;&nbsp;&nbsp; &nbsp;An appropriate commodity exchange friendly eco-system is essential for this. The laws and physical infrastructure favourable to this market should be maintained. We must be able to access agricultural products in the international market by storing it in a facilitated warehouse.<br />
	&bull;&nbsp;&nbsp; &nbsp;The government should at least bring an ordinance to maintain regulations and issue license to exchanges and brokers.<br />
	&bull;&nbsp;&nbsp; &nbsp;Exchange companies should be specialized on the basis of their operation procedure, software, human resources and other measures of standardization. Unless this is done, all exchange companies have their own term of standards and they move forward with different schemes.<br />
	&bull;&nbsp;&nbsp; &nbsp;Transaction through warehouses can be the baseline for systematic initiation in this market. In the medium level this market can be developed through big financial institutions, and stakeholders and their trade risks can be addressed through the commodity market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal can be developed as an international financial center. The trade of gold and silver can be done in Nepal in bigger investment. National as well as international investors can invest in this and manage their portfolio.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal is not in condition to run 10 commodity exchange at present. Maximum two exchanges would be enough.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Santosh Pradhan, Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/bs(1).jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Bijesh Shrestha,<br />
	President and Managing Director, Asian Derivative Exchange (ADEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Everything has a fixed life cycle and so does a commodity market. The commodity market was established in Nepal in 2006 AD and during 2009-2011, it attracted a lot of investors. This expanded the market by mid 2012, it became mature. Anything that experiences drastic growth in a short period of time does not last long and the same thing happened to the commodity market. The market has completed a life cycle and it has to revise itself now with some improvements in regulations and other aspects.<br />
	&bull;&nbsp;&nbsp; &nbsp;Only paper transactions are being done in the commodity market&nbsp; till date. The market grew drastically and crashed immediately because of which customers are losing trust. Trust can be regained by forming a strong base. Similarly, improvement in the capital market and the real estate market is also essential for improving this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Though there are 10 exchange companies operating in the market, the number of investors does not exceed from 50-60. This shows decrement in the number of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The regulatory body should pave the way for regulations and the exchange companies should follow it. This market should include transactions of exchange index and Nepse index to attract investors.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Abhisek Gautam" src="/userfiles/images/ag.jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Abhisek Gautam<br />
	General Manager,Commodity Futures Exchange (CFX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;There are more investors observing loss than earning profit in the commodity market.&nbsp; The number of customers in this market has decreased compared to the previous year. This market can observe negative effects which are created because of mismanagement of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market lacks novelty at present. We are using the same old things just with some modification. There have been change in the marketing procedure but production and market is the same.&nbsp; The numbers of investors are decreasing because of security issues in the market.<br />
	&bull;&nbsp;&nbsp; &nbsp;The expansion and recession in the commodity market is directly proportional to the economic cycle. The market has been experiencing recession these days but it was booming some months ago. Everything has its own pace but the commodity market rose exceptionally fast and is experiencing downfall now.<br />
	&bull;&nbsp;&nbsp; &nbsp;Some national and international organizations have been boosting agriculture production, commercialization and pricing in Nepal. Those agriculture products should be included in this market but we are failing to do so as the act related to the warehouse has not been formed yet. Also not formed are shares, treasury bills and other financial instruments that would make the market more effective.</p>',
			'published' => true,
			'created' => '2013-10-07',
			'modified' => '2013-10-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘The possibilities of Commodity Market in Nepal’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1809',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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			'user_id' => '0'
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1902',
			'article_category_id' => '153',
			'title' => 'E-commerce Talks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;Demystifying New Mode of Trade and Payments&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. This interaction was dedicated to clear the existing technology that has been replaced by new technologies in the fields of trade and payments. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. <strong>Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Biswas Dhakal" src="/userfiles/images/bs.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Biswas Dhakal</span></strong></div>
<div>
	<strong><span style="font-size:14px;">President, F1Soft International Ltd</span></strong></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Our main objective is to facilitate customers with new and easy services. Other companies also carry similar objectives to make life easier for customers through digital transactions. Every transaction should be a digital transaction, be it large banking transactions or daily life transactions. We have initiated the online transaction service with this same purpose. This brings money to the banking sector and also increases investment. Remittance, which has covered large areas in the Nepali economy, is also brought to the country through online systems. The procedure of an online system is very easy and can be used by everyone. It can be done by simply sending an SMS and people are seen to be interested towards this service. But due to various reasons, the popularity of this system has not increased yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem of the digital system is a lack of its credibility among people. But the system is totally secured from our side. We have adopted international norms for security in the system. Our first priority is to provide secured transactions and we have not received any complaints regarding security and services from our customers.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main obstacle for digital transaction in reference to the worldwide global practice is digital illiteracy. Moreover, in an education deprived country like ours, the problem is huge. So it is impossible to achieve hundred per cent digital coverage in Nepal. However, our concept is to move from developed to less developed areas. For example, 50 per cent families of Kathmandu have their representatives abroad. A major responsibility for those abroad is to send money to their family. If we can convince the people in Kathmandu towards online transaction, they can opt for a digital medium as their mode of transaction. Moreover, the family in Kathmandu can also use an online medium to send money and other materials abroad. We can then enter rural areas as well. Using personal brand ambassadors rather than our individual effort for promotion would be more effective.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>There is a misconception that few government policies have created obstacles. However, if all processes are completed, it is not that difficult to work. Everyone involved in transaction has their own process. The Nepal Rastra Bank also has its own policy. The foreign exchange department also has its own policy. We cannot exist for long in this sector if we bypass their policies. According to the policy of the Nepal Rastra Bank, a private organization cannot hold funds of customers. So, we appointed banks for the payment and provided the custody of customers&rsquo; money to them. Similarly, foreign currencies are also handled by banks. So, there are no hurdles due to rules and regulations if they are handled properly.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Samir Vajracharya" src="/userfiles/images/sv(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Samir Vajracharya</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technology Officer, Smart Choice Technology</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Smart Choice Technology (SCT) started in 2001 AD when there were hardly 4-5 ATMs and 10,000 cards. Currently, there are 15, 000 cards under the SCT network only and more than 18,000 people with access to cash. A total of 85 financial institutions are affiliated with SCT. &nbsp;We have focused on ATM transactions and Point of Sale (POS), mainly. There is a vast difference in the situation now and then. Our vision is to provide easy access to financial activities to the people and we have been successful in our mission to a large extent. This does not mean that this is the line of satisfaction as a large number of people hesitate to use ATMs still.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Nepali market is not ready for e-services, which has been the main hurdle for increment in the online market. We should be able to make people aware about the importance of online transactions so that their interest level towards this service increases.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is not being able to lead this sector which is also seen as a major problem. The government should introduce some compulsory regulations regarding online services to increase people&rsquo;s involvement in this sector. This is only due to the contribution and dedication of the private sector that online services have reached up to this level. But without support from the government, the online sector cannot sustain for long. The private sector is profit-oriented, but if the government sector takes charge then this sector can be service-oriented.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Though the issue of security is big in this sector, SCT is very much concerned about the security issue and has worked on it. Our cards are based on pin codes which are the safest medium in this sector in comparison to a signature as it can be copied.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Customers have to face problems because of problems in network but these problems are not solely from theSCT network. There are various service providers including telecom, banks and others involved with it. This is difficult to manage as network problems may arise anywhere anytime. People should be aware of this.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Poorly developed infrastructures and a lack of skilled manpower are also major obstacles in the context of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are also facing problems because of political instability and power cuts. The companies from foreign countries are interested to work with us which is a positive sign for us but these vital problems are blocking them to work with us. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Similarly, there is a lack of government policy. The central bank should provide a benchmark to other banks for e-payment. It is difficult for the private sector to work without a benchmark. We are discussing with concerned authorities to solve these issues.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<img alt="Rabin Kumar Shrestha" src="/userfiles/images/rks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" /><span style="font-size:14px;"><strong>Rabin Kumar Shrestha</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technical Officer, PayBill</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are making maximum efforts for improvement of the online sector but we are not getting results accordingly. There are various reasons for this. Firstly, people are not aware of this system. Most people still believe that the internet is only limited to the social media. They are not aware that various transactions can also be done through the internet. These people can be attracted to this sector if they are made aware.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The issue of security is also a major concern but this system is very much secured. Customers should send two smses to transact from PEBIL. After the first sms, we send an alpha code to the customer and after that the customer must send both the alpha code and pin through sms. Only after this will they will be able to transact. So, this way our system is secured but people are still not convinced.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Subas Dhungana" src="/userfiles/images/sd.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" />Subash Dhungana</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Executive, iPay</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>iPay is an online payment system. We have been operating Muncha.com since 2002. Our services were limited to gift packages for long though we were not satisfied with the results. But some positive signs are emerging now based on which we are expanding our services. &nbsp;We have moved towards bringing remittance and media sites for downloading files along with online shopping. We have made agreements with seven banks for this purpose recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main reason behind the failure of e-commerce sites is the failure of payment to customers. For online payment, there are e-sewa, PayBill, SCT, credit card and our own production iPay which are associated with seven banks. But if the customer is asked to pay online, then s/he makes various excuses as they are not aware of these services. So cards of Nepali banks should get international validity for easy access to online payment. Around 20-25 people register in Muncha.com but at the end, they have problems with the payment system. Therefore, an easy way for payment should be initiated with support from the government or the central bank. Though these issues are discussed, we are lacking behind in implementation. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We have not faced any problem regarding security, nor have we received any complaints. We are practicing international norms of security in our system. We can&rsquo;t say that the online medium is hundred percent secured but problems have not occurred yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Political instability is also main problem for this sector. The number of internet users has increased, but political stability is must for the sector&rsquo;s rapid growth. Political stability brings employment, and it is when people are engaged and busy that they start engaging in online activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Bal K. Joshi" src="/userfiles/images/bkj.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Bal K. Joshi</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>President, MACHNET</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal has immense potential for e-commerce. Though there is not much expansion in this sector, the condition has not worsened. There are a lot of websites conducting e-commerce and their businesses have increased through the medium. The expansion of the market for e-commerce depends upon target customers and identifying their needs.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem at present is not being able to invite international transactions to our country. PayPal is popular for this at national and international levels. But there are some procedural problems in the use of PayPal digital transaction in Nepal. The customers have to pay an extra fee to send the money. For example, if a person has to send 2000 dollars then s/he will have to pay around 2500 dollars. So, there is no prospect for using PayPal to expand the digital transaction market in Nepal. We are introducing a new platform related to money transfer for the first time in Nepal to make it easier for Nepali customers to transfer money from abroad.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-30',
			'modified' => '2013-10-08',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘Demystifying New Mode of Trade and Payments’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1763',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '1862',
			'article_category_id' => '153',
			'title' => 'Third Money Expo 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Third &lsquo;Money Expo 2013&rsquo; is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.&nbsp; Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation. The expo will host stalls of bank and financial organizations, capital market and&nbsp; insurance companies among others.&nbsp; Various regulatory bodies will also be participating in the event. There will be 125 stalls in total and different conferences related to share markets, investment in infrastructures, mutual&nbsp; funds, private public partnership, microfinance and use of new technology in commodities and financial markets will be held.&nbsp;</p>
<p>
	Organizers have informed that entrepreneurs from India, Europe and Middle East Asia will be participating as well. &ldquo;The government aims to uplift the country to the status of a developing country by 2020 AD. High levels of investment from private and public sectors are necessary for this and the expo aims to be a platform for the investors&rdquo;, say the organizers. The Money Expo will host discussions on various issues such as investment of remittance in productive areas, making investments project focused, and the demands of the comparatively liberal policy to invite foreign direct investment in infrastructure development.&rdquo;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'Third ‘Money Expo 2013’ is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.  Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation',
			'sortorder' => '1723',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1861',
			'article_category_id' => '153',
			'title' => 'Problems And Challenges Of BFIs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme &lsquo;BFIs: Problems and Challenges&rsquo; was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:</p>
<p>
	<br />
	<strong>&lsquo;Financial Sector is Completely Secured&rsquo;</strong></p>
<p>
	<strong><img alt="bhaskar" src="/userfiles/images/Bhaskar.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 177px; " /></strong></p>
<p>
	<strong>Bhaskar Mani Gnawali</strong></p>
<p>
	<strong>Spokesperson, Nepal Rastra Bank</strong></p>
<p>
	&bull;&nbsp;&nbsp; There was an influx of financial institutions after the implementation of the Liberal License Policy which created unhealthy competition between the institutions. This resulted in maximum investment in the real estate sector, and thereby created problems in the financial sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; After that, the central bank decided to control loans in the real estate sector and a deposit insurance policy was also introduced. There is now a system of deposit insurance up to Rs 200,000 for all&nbsp; deposits of natural persons, so that there is no fear to deposit money in any bank and financial institution.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Influx of banks and financial institutions with the Liberal License Policy brought problems in the financial system. To control these problems, the central bank came up with a merger policy which has been successful thus far. We have brought this policy for the qualitative development of financial institutions and their sustainability. The merger is not a compulsion &ndash; it is a demand of the times.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The merger policy has not only increased the investment capacity of financial institutions but also performed as the check and balance mechanism. It has also discouraged financial crime.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There are altogether 175 financial institutions, including all types and classes of banks. This is still an excess number in the context of Nepal.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Rural access is increasing with the help of microfinance companies. Until now, 35 microfinance institutions have been permitted to operate and there are more coming in.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Medium level development banks have also helped a lot to raise the rural economy and alleviate poverty in Nepal. Model banking can be the best example for development in the country.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Total deposit in the financial system of Nepal amounts to Rs 1300 billion. Out of this, only about Rs 700 billion has been invested in real estate. This shows that investment in real estate won&rsquo;t be affecting the banking system of Nepal in the upcoming days.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Bank and financial institutions have to invest at least 12 per cent in the agriculture and hydro sectors. We have also planned to invest 20 per cent in the productive sector.<br />
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Failure to implement&nbsp; Secured Transaction Act as a Problem</strong></p>
<p>
	<br />
	<br />
	<strong><img alt="rajan" src="/userfiles/images/rajan(3).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajan Singh Bhandari</strong></p>
<p>
	<strong>President, Nepal Bankers&rsquo; Association</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the Secured Transaction Act is promulgated, it has not been implemented till date. This is seen as a problem.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The task of registering collaterals should be given to the credit Information Bureau. This reduces the possibility of double investment in working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Lately, because of unhealthy competition among some banks, there have been possibilities of double exposure in a single borrower through working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The capital fund of banks is very strong. So, investment in real estate is a small amount. This will no longer create long term problems in the banking sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though there are a lot of opportunities, there is no favourable environment for investment. Deposits and loan investment have doubled in four years but there is no change in the growth rate of the banking sector which is still around 4 per cent.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There is no technical risk in the banking sector. They are expanding technical services and facilities which have benefited this sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Banks are capable of securing themselves from probable operational risks. The check and balance system of the banking sector is effective.</p>
<p align="left">
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Need Classification of Development Banks</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="krishna" src="/userfiles/images/krishna.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Krishna Raj Lamichhane</strong></p>
<p>
	<strong>President,<br />
	Development Bankers Association, Nepal</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; The main problem of development banks is its classification. There are some such banks with higher amount of paid-up capital as well as small paid-up capital. So, the issues of these banks are different. The small development banks have competition with cooperatives whereas big ones have competition with commercial banks. Thus, classification has been a major issue of development banks.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The central bank has been providing various facilities to development banks expanding branches in rural areas, but not to those which have the main office in rural areas. In fact, those banks with head office in rural areas need support and assistance. They are working with low capital and in spite of lack of skilled man power. The government should help them in risk minimization.</p>
<p align="left">
	&bull;&nbsp;&nbsp; People in rural areas are less aware about banking habits compared to urban people. Along with this, lack of skilled man power, weak collateral, lack of security and infrastructure have increased risk of banking in those areas.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the number of development banks have decreased to 86 from 88, their branches have increased to 77 which is a remarkable number.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The working area of financial institutions should be divided during the classification of banks.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>&lsquo;We are not able to regain&nbsp;the trust of customers&rsquo;</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="rajan" src="/userfiles/images/rajan(4).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajendra Man Shakya</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Finance Companies Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Finance companies are diminishing rapidly and have reached 55 from a total of 88. We simplified the procedures of financial transaction for easy access among common people and high return in the financial system, but the misuse of these systems by some of our finance company holders and operators created problems. Besides this exception, the condition of finance companies is not that bad but we are still not being able to regain the trust of people.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The largest share of investment of finance companies is in real estate. More problems were created after the Nepal Rastra Bank introduced Dynamic Provisioning.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Investment stuck in real estate has not been recovered because of high investment and lack of new sectors for investment. Interest rate is high because of high investment.</p>
<p align="left">
	&bull;&nbsp;&nbsp; &lsquo;C&rsquo; class companies are facing problems as the regulatory body has included all financial companies under the same umbrella.There are some issues which only &lsquo;C&rsquo; class companies are facing, and which should be addressed by separate regulations.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Loan recovery is also seen as a problem these days. Most finance companies invest large amounts of money on land, houses and businesses knowingly or unknowingly. Loans taken in the name of business and commerce is also being used for investing on land and houses.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We have no right of prompt decisions as commercial banks. They can increase or decrease the interest rate according to their convenience but we are not allowed a make difference on loan amount. So, customers who don&rsquo;t have access to commercial and other banks come to us. But the problem of investment is interest rate. The depositors seek higher interest rate because of high risk, and so finance companies have to collect deposits by providing high interest than that of commercial banks. Therefore, we should be giving priority to invest in sectors where the return of investment is secure.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>Problems in Expanding Microfinance Services</strong></p>
<p>
	<br />
	<strong><img alt="dharma" src="/userfiles/images/dharma.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Dharma Raj Pandey</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Microfinance Bankers Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Micro finance basically deals with poverty alleviation, providing loans without collateral in rural areas, collecting small savings and providing micro insurance services. So, it has high cost and cost reduction has been a major challenge.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Expanding services in rural areas is our responsibility. But we are facing difficulty in expansion because of limited capital and high cost. Access to rural areas, management of skilled manpower and information system has also been major problems for us.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Microfinance has to be better understood. They conduct programmes for poverty alleviation which is unlike conventional financial institutions. Beyond loans and deposits, we also focus on other activities like generating skilled manpower, helping them to make plans. We inspect during implementation of the business plan or help in accessing people and their products in the market. It heightens our cost and risk so the central bank has to support us further through monetary policy.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We are not able to expand our services throughout the country. There are still 10 or 11 districts where micro finance services are not available. Within three to five years, we aim to reach each and every district of the country.&nbsp; For this, the government has to support us in organizational development.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The government has not been able to make proper evaluation of the financial services that support sustainable development objectives. Services helping the rural people access finances should be acknowledged by the government.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The size of loan is increasing these days which has increased the risk. We have been planning to formulate self regulation.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Like any other organizations, microfinance also needs some profit as it has to satisfy its customers with return of investment, risk bearing and expansion of its services. Therefore, the interest rate is high and we are trying our level best to reduce it.</p>
<p align="left">
	&bull; Another challenge of this sector is lack of skilled manpower and poor information technology system.</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme ‘BFIs: Problems and Challenges’ was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:',
			'sortorder' => '1722',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1822',
			'article_category_id' => '153',
			'title' => 'Nepal Emerging As A Global Auto Hub',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	With the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Focusing on the booming automobile market that had been on a downward spiral for the past three years, Nepal Automobile Dealers Association (NADA) in association with the Global Exposition and Management Services (GEMS), an event organizing company, organized the &lsquo;NADA Auto Show 2013&rsquo; to promote Nepal as a good market for automobile business.</div>
<div>
	&nbsp;</div>
<div>
	The auto show, which concluded last week, showcased the passenger car, two and four- wheelers, tyres and tubes, components and sub-assembly accessories, off-road vehicles, tractors and farm equipment batteries, environment and safety equipments, &nbsp;air-conditioning, trucks and bus lubricants, auto finance, auto insurance, garage equipment and auto paints.</div>
<div>
	&nbsp;</div>
<div>
	A total of 69 exhibitors, including local as well as international brands, displayed their products and services in 100 stalls. Automobile companies from Nepal, India, China, Korea, Japan, USA, Germany and Czech Republic, among others participated in the event. The auto show this year had different sections for two-wheelers, four-wheelers and commercial vehicles to cater to the need of segmented as well as general visitors.</div>
<div>
	&nbsp;</div>
<div>
	Inaugurating the Auto Show 2013, Finance Minister Shanker Prasad Koirala said the fair could help boost the transportation sector, which is considered an essential component for improving an economy. &ldquo;The government is considering revising the customs duty on the vehicle imports following the commitment at SAFTA and World Trade Organization,&rdquo; Koirala added. He said that in spite of a lot of possibilities in the automobile industry in Nepal, this sector has not improved as expected and government is ready to support this sector.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Visitors are seen as attracted by hatchbacks as compared to any other segment of four-wheelers,&rdquo; said Shekhar Golchha, President of NADA. &ldquo;The small car segment appeals to many as it is easier to navigate through the narrow and crowded traffic of Kathmandu, not to mention to cope with the dearth of parking space,&rdquo; he added. Golchha emphasized on the preference of small cars because of jerky roads all over the valley. &ldquo;These small cars are ideal to drive in the bumpy roads of Kathmandu valley and for those who are buying a car for the first time. New brands of cars are preferred by those who change their cars frequently but the demand of small cars is higher.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 269px;" />The Current Market&nbsp;</strong></span></div>
<div>
	According to Gopi Krishna Neupane, General Secretary of NADA, the market of automobiles has increased significantly than in the previous fiscal year. &ldquo;We have almost all international brands in our Nepali market including Nepali products,&rdquo; Neupane said. &ldquo;Sales have improved this year though it had significantly dropped in the previous years. Sales of both four-wheelers and two-wheelers had gone down last year.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to data provided by the Department for Transport Management, 208,500 units of vehicles were sold in Nepal in the fiscal year 2012/13 which is an increment of 28, 000 units from the previous fiscal year. Only 1, 70, 000 units of vehicles were sold in the fiscal year 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	Neupane added, &ldquo;Around 50 national and international companies are present in Nepal and are dealing in automobiles, providing employment to around 1.7 million people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Golchha said that the annual transaction of the automobiles in Nepal has crossed over Rs 50 billion, which is encouraging the people working in the industry.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 313px;" />Problems and Challenges</strong></span></div>
<div>
	Transportation has always played an important role in the economic and social development of any state. &ldquo;But business in Nepal has been directly hindered by the massive customs duty on the import of vehicles,&rdquo; said Golchha. He also pointed out the increment of 5 per cent excise duty while entrepreneurs try to reduce the customs duty which has pushed this business backwards. He also complained about the high fuel price, the crude manner in which prices of spare parts are fixed at customs offices, and problems created through the open border as major problems facing the country&acute;s automobile sector. &ldquo;Nepal has been levying 241 percent duty, including excise duty, customs tax and VAT on four-wheelers and 80 percent on two-wheelers. This is the highest imposition of tax on automobiles in the world,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector. &ldquo;Automobiles are essential for the growth of the economy but the government&rsquo;s negligence towards this sector has been a main factor that has held it back,&rdquo; Pradhan mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Future Prospects&nbsp;</strong></span></div>
<div>
	The auto dealers in Nepal are focusing towards the expansion of this market. Lately, new brands of automobiles are being introduced to the Nepali market on a weekly basis. Auto dealers are experiencing tough competition in introducing user friendly two and four- wheelers in the market. However, along with the rise of 25 per cent in sales, positive signs are emerging to indicate that the future of automobiles in Nepal is not dark.</div>
<div>
	&nbsp;</div>
<div>
	According to Neupane, &ldquo;99.5 per cent of Nepalis do not have access to four-wheelers. With a population of 26.4 million and the number of four-wheel vehicles around 1.5 million, we arrive at the ratio of five families to one vehicle. Based on this data, there are a lot of possibilities for the automobile market in Nepal. &ldquo;Only the market of Kathmandu valley does not depict the extent of the automobile market here; there are 73 districts in Nepal facilitated by motor ways. This shows that the market is growing outside of the valley too,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/fcs3.jpg" style="width: 550px; height: 233px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-17',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1780',
			'article_category_id' => '153',
			'title' => 'Software Industries Flourishing In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country.</div>
<div>
	&nbsp;</div>
<div>
	Supporting the growth, Computer&rsquo;s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	As per &nbsp;CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years.</div>
<div>
	&nbsp;</div>
<div>
	CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. &ldquo;Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Current Business</span></strong></div>
<div>
	The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million&ndash;Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million.</div>
<div>
	&nbsp;</div>
<div>
	A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent.</div>
<div>
	&nbsp;</div>
<div>
	A raw data recently showed that there are around 300 software companies in Kathmandu valley.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increment in Outsourcing Activities</span></strong></div>
<div>
	Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.</div>
<div>
	&nbsp;</div>
<div>
	There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. &ldquo;Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,&rdquo; said Balami.</div>
<div>
	&nbsp;</div>
<div>
	Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. &ldquo;We should bring Nepali ICT professionals, who are working abroad, to our &nbsp;country with capital and technology,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. &ldquo;Many developers were running the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,&rdquo; they stressed.</div>
<div>
	&nbsp;</div>
<div>
	There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities.</div>
<div>
	&nbsp;</div>
<div>
	Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Prospects of software business</span></strong></div>
<div>
	The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Way ahead</span></strong></div>
<div>
	In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.</div>',
			'published' => true,
			'created' => '2013-09-09',
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			'description' => 'Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
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	(int) 11 => array(
		'Article' => array(
			'id' => '1699',
			'article_category_id' => '153',
			'title' => 'More Demand For Cool Air',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.</div>
<div>
	&nbsp;</div>
<div>
	Growing urbanisation, surge in corporate offices, business complexes and shopping malls have pushed the demand for air-conditioners in the domestic market in the last few years. More than a dozen brands are competing in the Nepali market to cash in the growing demand for air conditioners.</div>
<div>
	&nbsp;</div>
<div>
	Air conditioners in Nepal are mainly imported from a number of East Asian countries like China, Malaysia, Japan and many more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market currently consists of varieties including the split type and the wall mount AC to ceiling cassette models from established brands including LG, Whirlpool, Beko, Panasonic, Yasuda, Midea, Gree, McQuay, Fuji Air, Mitsubishi, Daikin and Hyundai. Also available in the market are central ACs, but their sales are limited to big hotels, corporate buildings and shopping complexes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Distributors of the product say that the market for air conditioners in the country has grown by 25 to 30 per cent since its initial days, which reflects the rise in demand for ACs among upper class consumers and a compulsion for ACs in corporate houses, hospitals, shopping malls, hotels and commercial houses. &ldquo;Consumers of AC have doubled in recent years and the sale is expected to grow as the number of hospitals, hotels and other business houses are being constructed in an appreciable way,&rdquo; says Basuki Nath Thanur, Senior Manager-Commercial AC of Airtech Industries Pvt Ltd. According to Thanur, the products are mostly used by upper class consumers from big cities rather than the middle class.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="AC Brands in Nepal" src="/userfiles/images/airq.jpg" style="
float: right; margin: 0px 0px 0px 10px;width: 300px; height: 313px;" />Brands Available in Nepali Market</span></strong></div>
<div>
	A large variety of ACs including the single split type, the wall mountain, the ceiling cassette, ceiling suspended ACs, floor sanding ACs, duck able ACs, VRF or multi split ACs as well as central ACs are found in the Nepali market. Of the brands available here, customers prefer ACs imported from China and Malaysia as they are comparatively cheaper than&nbsp;</div>
<div>
	Japanese ACs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	ACs with a capacity of 0.75 tonne, 1 tonne, 1.5 tonnes and 2 tonnes are found in the market and are targeted at brand conscious people who do not mind paying a little extra for quality and reliability. Prices in the market range from Rs 58,000 to Rs 92,000. According to a company, ACs having capacity of 0.75 to 1.5 tonnes are appropriate for home use, while those with higher capacity are appropriate for&nbsp;</div>
<div>
	office use.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increasing Demand&nbsp;</span></strong></div>
<div>
	Along with the growing market, customers demand too is on the rise. A lot of customers including the big commercial houses and hotels are moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in living standards of people and the increment of various big commercial houses has forced traders to bring in products to satiate the need of customers. A leading importer mentioned that increasing demand has turned the market fiercely competitive.</div>
<div>
	&nbsp;</div>
<div>
	Even though the price of air conditioners has increased by around 20 per cent, traders dealing with popular brands say sales have increased four-fold since the beginning&nbsp;</div>
<div>
	of summer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Of the two types of AC widely sold in the market &ndash; domestic and office-use ACs - traders say sales of the wall mount AC has spiked considerably compared to split ACs that are fixed on the ceiling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	Some traders observe that the market share of air conditioners in Nepal is mostly covered by Chinese, Malaysian and Japanese brands, among which (roughly) 40 per cent of the market is covered by Chinese brands, 35 per cent by Japanese and 25 per cent by Malaysian brands.</div>
<div>
	&nbsp;</div>
<div>
	Traders have observed rapid expansion of the AC market in cities outside Kathmandu, with Narayangarh, Birgunj, Biratnagar, Pokhara, Bhairawa, Hetauda and Nepalgunj showing encouraging growth in the use of ACs. The eastern part of Nepal showed more demand for the appliance than the western part of the country and the gap in sales between Kathmandu and the rest of the country was shown to be narrowing.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges&nbsp;</span></strong></div>
<div>
	The encouraging growth in sales aside, traders are experiencing various hurdles in this business especially since competition is high. Traders claim that quality maintenance is not fair in the market and that with a plethora of products available, duplicate products are on the rise. With the growth of unhealthy competition, duplicate products have been degrading market credibility, which is the negative sign for business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other macro factors such as political instability and the rise of the dollar can be a threat to this business too. But despite these challenges, importers and distributors seem to have plenty to get going, as demand for air conditioners does not seem to show signs of subsiding as yet.</div>
<div>
	&nbsp;</div>',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1655',
			'article_category_id' => '153',
			'title' => 'Foreign Language Skills Will Drive The Next BPO Boom',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujit Nath</strong></div>
<div>
	&nbsp;</div>
<div>
	The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.</div>
<div>
	&nbsp;</div>
<div>
	Businesses are expanding speedily and reaching even distant corners of the globe. Rapid changes are occurring in the way business transactions are conducted. Boundaries &ndash; physical and linguistic &ndash; are hence being naturally broken.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Globalisation has brought countries closer to each other, and there is now increased interaction between them. In such a scenario, knowledge of a foreign language shall go a long way in enabling improved communication and understanding.</div>
<div>
	&nbsp;</div>
<div>
	To attract more students many institutions are getting associated with coveted institutes such as Max Mueller, Alliance Francaise to ensure the holistic development of the students in terms of languages, which will help them in shaping their career in future.</div>
<div>
	&nbsp;</div>
<div>
	We all know that the best age for a child to pick up a foreign language is when he or she has attained an age of 6-8 years. But with working parents it is not always possible for them to go to such language schools. This is because of the time and budget constraints of their parents. Therefore, many of them are offering customised course classes to suit the timing and budget.</div>
<div>
	&nbsp;</div>
<div>
	A senior executive of Mafoi, a leading Indian placement agency that works for most Fortune 500 companies, says, &ldquo;Our clients have BPO assignment deals not only from France and Germany, but also from Belgium, Netherlands and other countries where these two languages are spoken. Speaking in their language gives confidence in the minds of the foreign clients with regard to their overseas BPOs for it shows that they are well-equipped to handle foreign business. This also helps in building personal rapport for knowledge of a common language, which definitely helps break communication barriers&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	On the context of students or professional from Nepal, she said, &ldquo;I have interviewed many girls from Nepal who has earned expertise in foreign language and doing quite well in USA, UK, Germany and Spain. Most of them were good at Spanish, French and German&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	She feels that Nepal has a great potential and especially the youths, who are talented enough to take up any challenges abroad. &ldquo;They are a good professional,&rdquo; she said.</div>
<div>
	&nbsp;</div>
<div>
	Mainak Sen, who stayed in Nepal for long time and settled in Germany, said, &ldquo;In my college days in Nepal, learning foreign language was not so popular. But I learned the language, which helped me a lot in mingle with the local culture in Germany and my profession. I have many friends in Nepal whose children prefer to learn atleast one foreign language as per their future career plan&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Jackson Subedi, Director of Alta Vista, &nbsp;exclusive Spanish Language School in Nepal which was founded in 2006, said, &ldquo;In this fast changing global scenario language skills, and particularly the knowledge of European languages, provide a great advantage to youngsters seeking career opportunities in the ever shrinking and increasingly globalised new world order&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	It is not only the love and thrill of learning a foreign language alone that brings these youngsters at these foreign language teaching institutes. They are there because they feel that knowledge of a foreign language other than Nepali and English will give them a passport to a whole new world of opportunities and career options, where their language skills will count a lot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, Prasanna, who learned Spanish in Nepal, believes that his knowledge of the Spanish language will come in handy not just in Spain, but also in USA and Latin America &mdash; where this language is extensively used. &ldquo;The language helped in enhancing my portfolio,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, according to Jackson, the Director of Alta Vista, there are students who wants to learn the foreign language to become tourist guide, which they feel is another sector which is booming every day.</div>
<div>
	&nbsp;</div>
<div>
	But how will knowing a foreign language help them in their careers?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The focus on creating a personalised business environment has meant that even professionally qualified people feel the need to upgrade their qualifications to stay competitive in the employment race. Multinationals, IT companies and BPOs in the country not only look for people with required technical qualifications but also those with linguistic skills.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;Learning Foreign language does make a difference and candidates knowing Spanish, French or German are definitely at an advantage during recruitment. But I personally feel that in Nepal the demand for learning Spanish is higher among the Nepali students&rdquo;, says Anup Satyal, a well known Spanish language teacher in Nepal.</div>
<div>
	However, some students are opting for Germany because the their education is bit cheaper and widely spoken in Austria, part of Switzerland and in most East European countries such as Poland, the &nbsp;Czech republic, Hungary etc. But there is a significant number who also think it shall be very useful, in terms of their career even in India.</div>
<div>
	&nbsp;</div>
<div>
	There is an increasing demand for linguistically skilled people even for interpretation and translation of technical documents, transactions and e-mails. Some opt for multiple foreign languages, for wider look in other countries to get more opportunities.</div>
<div>
	&nbsp;</div>
<div>
	Another factor for Nepali students opting for multiple foreign languages the USA is no longer the only preferred destination, as several youngsters as seek employment in Europe. There are also many who seek employment in countries such as Canada (Canadian immigration authorities insist on a French language certificate), and in the once-French and German colonies of Africa, where knowledge of French and/or German is extremely beneficial.</div>
<div>
	&nbsp;</div>
<div>
	In coming years youngsters from Nepal will shine more in other countries and proved to a great workforce.</div>',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1610',
			'article_category_id' => '153',
			'title' => 'Growing Market For Cosmetic Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Similar to the hundreds or perhaps thousands of grocery stores around town, there are cosmetic shops set up at every nook and corner of Kathmandu. From departmental stores to local beauty parlours, there is no dearth of cosmetic products for potential customers.</div>
<div>
	&nbsp;</div>
<div>
	Cosmetics products are mainly imported from abroad. Nepal gets its cosmetics products of various brands from a number of different countries. Needless to say, like other imports, a significant share of cosmetics products available in Nepal are manufactured in India.</div>
<div>
	&nbsp;</div>
<div>
	The market for cosmetics products has been growing quite significantly over the last few years. The availability of cosmetics products has increased appreciably and the consumption ratio too has increased with each passing year. The market boasts of leading cosmetics brands from the world. The domestic market for cosmetics products has come a long way as well with top notch global brands and established names from neighbouring countries available in the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the market for cosmetics products in the country is growing at about 25-30 per cent. They attribute the rise in demand for cosmetics products to the growing middle class and awareness about personal image and hygiene, which has resulted in greater spending on beauty and personal care products. &ldquo;The market for cosmetic products in Nepal is very good. It is showing continuous growth,&rdquo; an importer said, adding that people have become fashion conscious and do not mind spending on cosmetic products. According to him, the sales of cosmetics product are good in the cities as well as small towns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Brands Galore</span></strong></div>
<div>
	The domestic market features products of around 80 cosmetics brands including international brands like Lakme, L&rsquo;Oreal, Garnier and Emami as well as Mac&rsquo;s Lavera, Nova, Chase, Astaberry, Lotus, Ayur, Ole and Aroma Magic. Products from third countries were the top sellers until a few years ago but that scenario has changed. Approximately, 80 per cent of the cosmetic products sold in Nepal currently are imported from India. Other countries that Nepal imports cosmetic products from include China, Singapore, Thailand, UAE and Europe.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Nepali people are slowly understanding the importance of beauty and personal care products,&rdquo; observed another trader. While cosmetic products used to be considered a luxury until a few years ago, they have turned into a necessity today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Demanding Customers</span></strong></div>
<div>
	Along with the growing market for cosmetic products, customer preference is changing drastically. People are demanding products as per their need in contrast to the past when customers used to simply buy products were available in the market. A lot of people are also moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in awareness due to the media has forced traders to bring in products to satiate the need of choosy and demanding customers. A leading importer remarked, &ldquo;The awareness level of customers has turned the market fiercely competitive.&rdquo; &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though women still make up more than 80 per cent of the customers, the number of male customers is growing. The entry of products designed for men in recent years has helped the market grow significantly. Men&rsquo;s products such as after shave, deodorant, perfume, hair gel and skin care items are popular among male customers.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	According to an estimate, medium range cosmetic products enjoy a market share of around 60 percent while the premium brands hold around 30 per cent share with the low-end segment garnering around 10 percent of the market.</div>
<div>
	&nbsp;</div>
<div>
	Traders are now giving special attention to all kinds of markets in the country. &ldquo;Around 60 per cent of the market for cosmetic products within the Kathmandu Valley,&rdquo; a trader said. Besides Kathmandu, consumption of cosmetics products is high in places like Pokhara, Dharan, Itahari and Butwal. The gap in sales between Kathmandu and the rest of the country is narrowing so much so that the ratio can come down to 50-50 not too far in the future.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Driving Factors</span></strong></div>
<div>
	Cosmetics are an addiction among Nepalis, commented a store supervisor at a leading cosmetics store. She said that around 10 to 12 new brands enter the market every month and still, all of them manage to survive. She attributes this to the influence of western lifestyles and persuasive television programmes and cinema that have helped to push up the sales figures of cosmetics products. Consumption of cosmetic products is high in the rural market as well with remittance playing a crucial role.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Customers living in small towns too have become more selective. People who used soaps for all purposes earlier are now shifting to products like shampoo and face wash. &ldquo;An increase in the population in semi-urban and urban market places too has helped in the growth of sales for cosmetics products,&rdquo; observed an industry insider.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A change in the mindset of people has led to increasing demand for cosmetic products among male customers. While males in urban areas started using cosmetic products quite some time ago, rural males have started to use them recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges</span></strong></div>
<div>
	The encouraging growth in sales and turnover aside, traders are not happy with the way things are. They say that inconsistency of rules and procedures at the customs had slowed the growth of the market. An importer complained that traders are forced to declare higher prices at the customs by the officials. He says that they are thus compelled to sell products at a higher price due to the high import duty.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Duplicate Products</span></strong></div>
<div>
	With the plethora of products available in the market, complaints about duplicate products are also on the rise. Cosmetics products with similar labels and packaging has become a pertinent issue for all cosmetics users. The separation of duplicate products from original ones is almost impossible without proper government regulation.</div>
<div>
	It is hard to decide on the right one due to the availability of brands that claim to be original. However, one can avoid usage of unnecessary and harmful chemicals with long-term consequences on the health of one&rsquo;s skin by taking precautions and advice from experts.</div>
<div>
	&nbsp;</div>',
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			'description' => 'There are plenty of cosmetic stores in Kathmandu and all of them seem to have their own set of customers to deal with. Cosmetics business is considered to be among the most thriving businesses in the capital.',
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			'id' => '1564',
			'article_category_id' => '153',
			'title' => 'Convenience Stores Target Expansion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<p>
	<strong style="font-size: 12px;">--By TC Correspondent</strong></p>
<div>
	<div>
		Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Convenience stores are a successful business in western countries,&rdquo; a manager with the Chaudhary Group promoted CG Mart remarked, adding, &ldquo;We are confident that the idea is bound to pick up in Nepal too.&rdquo; The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The Shift&nbsp;</strong></div>
	<div>
		The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. &ldquo;Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,&rdquo; said an observer.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&lsquo;Single shutter&rsquo; cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree&nbsp;</strong></div>
	<div>
		The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart also plans to develop convenience stores in a franchise style. &ldquo;Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,&rdquo; said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. &ldquo;We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,&rdquo; a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company&rsquo;s strategy to expand into neighbourhood regions. &ldquo;Our aim is to reach out to as many places as possible for the convenience of our customers,&rdquo; he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players&nbsp;</strong></div>
	<div>
		CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Store Locations&nbsp;</strong></div>
	<div>
		Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. &ldquo;We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Target Market&nbsp;</strong></div>
	<div>
		&ldquo;We are mainly targeting new and affluent suburbs of Kathmandu,&rdquo; said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The &lsquo;Chain&rsquo; Effect&nbsp;</strong></div>
	<div>
		A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.',
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			'title' => 'Dip In Mercury Raises Heater Sale',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	K<span style="font-size: 12px;">athmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm. Demand for heaters in local market has gone up significantly and traders in the niche are glad. With winter setting in early this year, it has led to greater trade than last year during the same period. An early surge in heater sales has flamed corresponding expectations of higher profit this season.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market status</strong></span></div>
<div>
	Market of winter-comforting materials like heater, blankets is always relational to the wintry spell. Since the spell started earlier this time, till February traders are expecting substantial trade of these products. Most of Nepali consumers rely on Chinese winter-warming products. Chinese products dominating Nepali market due to their affordable prices. However, internationally renowned home appliance brands like the Black &amp; Decker, Yasuda, Electron, et cetera, are also competing in the niche. These brands have introduced a series of electric and non-electric heaters in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhaskar Munankarmi, Assistant Manager at Him Electronics, authorized dealer of Samsung in Nepal, said that most heaters in Nepali market are Chinese and that consumers prefer them primarily for the affordable prices. &ldquo;We have been selling both Halogen and gas heaters of Smsungamong which the demand of gas heater is more due to expected long hours of power outage,&rdquo; Munankarmi added.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The sale of the heaters is expected to increase by 30 per cent than that of previous year till the peak of winter season,&rdquo; he said that adding that &ldquo;The prices of the heaters have also increased by 20 per cent than that of previous years due to rise in the price of foreign exchange.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Heaters in Nepali Market</strong></span></div>
<div>
	In Nepal, halogen, quartz, fan, kerosene and LPG heaters are widely preferred. Halogen, quartz and fan heaters are basically variants of electric heating devices. Halogen heaters are available in two- and three-rod types. Price of Chinese two-rod halogen heaters starts from Rs 1765, while the three-rod variant starts at around Rs 2200.</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the demand of gas heater is increasing in the market as compared to the halogen and kerosene heaters. &ldquo;As it can be operated even during load shedding hours and can heat up a room more effectively in short time, gas heaters are more popular,&rdquo; said Ishwor Dangol, proprietor of Asan based Ishwor Store. &ldquo;It is now displacing the traditional electric heater and kerosene heater,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market offers gas heaters with three burners. Once heated, the burner, made up of ceramic clay and lime, releases heat for a long time.</div>
<div>
	&nbsp;</div>
<div>
	A single heating burner with a capacity of 1.4 kilowatt can release up to 4,000 watts of heat at its full efficiency level. Dangol said a gas heater can heat a room with an area of 20-80 sqm, provided all the three burners are lighted. &ldquo;The infrared and fast heating systems fitted in the heater warms the room in a short time, thereby using less &nbsp;energy,&rdquo; said Dangol.</div>
<div>
	&nbsp;</div>
<div>
	Bikash Maharjan of Ganapati Store in Mahabauddha said a cylinder of LPG can fuel a gas heater for 90 to 100 hours with all the three burners lighted.</div>
<div>
	&nbsp;</div>
<div>
	Apart from the normal gas heater, the market also offers hybrid ones that use both LPG and electricity. Electric segment of the hybrid heater comes with three halogen rods or heating fan. &ldquo;The demand for the hybrid heater is also on the rise as it allows people to use the electric heater also,&rdquo; said Maharjan.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A normal gas heater costs between Rs 5,500 and Rs 6,000, while the hybrid one is available for Rs 7,500 and above. A one-year warranty is also offered in the products,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Heater Brands in Nepal" src="/userfiles/images/fc1%20(Copy).jpg" style="width: 550px; height: 274px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Brands in Nepali Market&nbsp;</strong></span></div>
<div>
	Internationally acclaimed home appliance brands like Black &amp; Decker, Yasuda, and Electron, among others, are competing in Nepal heater segment market. Though Chinese heaters are widely preferred by the Nepali customers, dealers of these international brands are hopeful of a fair share of the market for their products.</div>
<div>
	&nbsp;</div>
<div>
	Anil Sethia, Managing Director of Universal Trading Centre (UTC), a subsidiary of Lucky Group, the authorised distributor of Black &amp; Decker, says, &ldquo;We brought in electric heaters five years ago and currently we are the leaders when it comes to branded heaters, as the rest of the market is dominated by Chinese products.&rdquo; While determining actual market share of their product remains difficult, he informed that they sell around 1,000 units a year.</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Electron Appliances &mdash; an Australian brand established over 20 years ago &mdash; has been competing in the Nepali market since a decade. Amit Taparia, Manager at Electron International Private Limited, a professional household appliance company marketing the brand&rsquo;s appliances in Nepal, says, &ldquo;We have heaters in quartz, halogen, fan and gas models in the two- and three-rod segment. Capacities of our models vary from 600 to 1,200 watts. We also have a two-in-one gas cum electric heater.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to him, consumers are shifting away from traditional quartz to halogen and fan variants, though the latter are mainly used for office purposes. &ldquo;The sales of LPG heaters is also catching up with electric variants, as they can be used during power cut hours. This is the reason we occupy 20 per cent of the market share among branded heaters,&rdquo; says Taparia, though he argues that disclosure of price is difficult and may vary from one retailer to other.</div>
<div>
	&nbsp;</div>
<div>
	With Chinese products dominating the market, dealers in branded ones are reluctant to disclose the price and sales growth. However, they uniformly agree that the market is growing. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anil Goenka, Operation Manager of Triveni Byapar Company Limited, authorised distributor of Yasuda, says, &ldquo;Yasuda, an affordable brand introduced in Nepal just three years ago, is witnessing an average growth of 30 per cent every year. Targeting the middle class segment, we provide six models of halogen heaters. Five of our models belong to three-rod segment while one has two rods.&rdquo; Like Taparia, Goyenka also finds it difficult to reveal prices and annual sales of company products. He claimed that the brand enjoys 15 per cent of the market share among branded heaters. Goenka adds, &ldquo;Remote control feature and smooth rotation adds to the good looks that our products flaunt, making us the preferred choice among prospective buyers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospects of the Market</strong></span></div>
<div>
	Traders opine that the market of heater in Nepal is flourishing. Especially in Kathmandu where the climate tempts people to buy heater to avoid chilling winter cold. As a warm home in winter makes everything better, heater-traders expected equally&nbsp;<span style="font-size: 12px;">heated sales.&nbsp;</span></div>',
			'published' => true,
			'created' => '2013-11-26',
			'modified' => '2013-12-03',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Kathmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm.   Demand for heaters in local market has gone up significantly and traders in the niche are glad.',
			'sortorder' => '2017',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2122',
			'article_category_id' => '153',
			'title' => 'Glittering And Glowing Jewellery Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Suraksha Adhikari&nbsp;</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items. &ldquo;These days people prefer unique and light weight jewellery over heavy and classic designs,&rdquo; said Mani Ratna Shakya, President of Federation of Nepal Gold and Silver Dealers&rsquo; Association (FENEGOSIDA).</span></div>
<div>
	&nbsp;</div>
<div>
	Once a symbol of prestige and prosperity, the charm of jewellery has not decreased yet but it has been an integral part of our society. Though the trend of jewellery has changed, it still denotes affluence of a family. Shakya said, &ldquo;The trend of placing orders has almost vanished as people now go for readymade products in the market.&rdquo; For Nepalis, jewellery is a tradition. The way people flaunt jewellery has changed over the period, but the charm hasn&rsquo;t changed and will never change, he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The shift in consumer preferences is evident with the fact that the number of branded and designer jewellery stores in the Kathmandu valley has increased many folds over the last two-three years, changing the way Nepalis shop for jewelries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	&ldquo;The leading metal in Nepali society, gold covers 75 per cent of the Nepal market because of its traditional and religious importance,&rdquo; said Tej Ratna Shakya, Former-President of FENEGOSIDA. Small amount of gold can be expanded to form large jewelleries and gold is an essential part in Hindu society during rituals ranging from birth and death of a person because of which the importance of gold has not decreased in our society. &nbsp;&ldquo;Though the sales volume of jewellery has come down because of the high price, the increase in the price of the yellow metal with various designs during the festival season has compensated the loss,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market demands estimated 35-40 kg gold per day but the government ceiling of importing only 15 kg per day has hindered in meeting the demand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;The annual revenue from the jewellery to Nepali government reaches around Rs 3 billion excluding the insurance and other additional income.&rdquo; He added, &ldquo;Around 5,400 kg of gold is imported and one kg of gold yields Rs 5,20,000 revenue. The revenue from gold four years ago was Rs 70 million with a rate of Rs 13, 000 per kg.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;After gold, silver occupies second position in Nepali market covering 25 percent of total jewellery.&rdquo; Shakya said. He added, &ldquo;Diamond market has been gradually increasing in Nepal showing higher opportunities to the traders.&rdquo; &nbsp;Before 4-5 years the sale of diamond was not even 10 per cent of total jewellery trade, but now a days people prefer diamond jewelries to heavy and classic gold jewellery. Shakya explained, &ldquo;Some years ago, diamond was only bought by upper higher class people but the trend of middle class people wearing diamond rather than yellow metal has made a significant improvement in recent years.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">The growing market size has also prompted traders bring in branded jewellery and come up with their own brands. While Shree Riddhi Sidhi has launched two brands Ashwarya and Akabari, other prominent stores like Gem House has introduced Swarna and Arsi brand jewelleries.</span></div>
<div>
	&nbsp;</div>
<div>
	The annual growth of the jewellery market is around 15-20 per cent at present but this growth is limited only up to this as the government has not revised its provision to import only 15 kg of gold per day while the demand of the gold is much more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Import-Export&nbsp;</strong></span></div>
<div>
	According to Tej Ratna Shakya, the government has permitted to import 15 kg gold on daily basis in Nepal. &ldquo;The raw material for gold is imported up to that ceiling but readymade jewelries are imported less in comparison to the raw material as the ready-made jewelleries have to pay 10 per cent custom duty,&rdquo; Shakya added. Only some of the big companies import the ready-made sets despite heavy custom charges, he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Talking about the export, Shakya said that though the jewellery market has not been able to make remarkable change, it nonetheless is slowly spreading its outreach. Some of the jewellery companies have opened their outlets in foreign countries. &ldquo;RB Diamond has opened its outlet in United States whereas Baraha Jewellery has its outlet in London and some have their outlet in Australia and so on,&rdquo; he further added.</div>
<div>
	&nbsp;</div>
<div>
	Apart from gold and silver, there is also high demand for Nepalis&rsquo; handcrafted jewelleries in the international market. &ldquo;Most of the gems in Nepal are used for silver jewelleries that are exported to Europe and America,&rdquo; said the traders. The handcrafted jewelries are very famous and liked by the Europeans and Americans. They are exported in different designs like earrings, rings, necklaces, pendants, bracelets, brooch, bangles and different articles embedded with precious stones.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Diamond is the most important precious stone in terms of value that generates a larger volume of revenue and business internationally,&rdquo; said Mahesh Man Shrestha, owner of Gahana Griha. Even in Nepal, diamond jewellery is more popular and in demand than other gemstones, added Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Jewellery certification</strong></span></div>
<div>
	Jewellery certification plays a vital role in the business. There are labs all over the world that identify and grade gemstones, however, it&rsquo;s not an established trend in Nepal yet. Shakya said, &ldquo;Since the jewelleries of Nepal are not exported to international market, the certification has not been an issue till now.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the trend is being established slowly. He added, &ldquo;RB Diamond Jewelers is taking an initiative to change this by introducing GIA (Gemological Institute of America) Certification for gems and jewelries in the near future.&rdquo; These certificates are internationally recognized and honoured and known for grading precision, technology, research and other important factors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospect of the market</strong></span></div>
<div>
	The jewellery market of Nepal is providing employment opportunities to around 50,000- 60,000 people at present. Nepal&rsquo;s jewellery market has a very bright future prospect. &ldquo;The growth in the market can be noticed through the rise in the number of gold stores,&rdquo; said Shakya adding that the profit margin of individual stores might have fluctuated, but the overall market is growing. The penetration of Nepali jewellery in Europe can develop the market in broader way with greater exposure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	There are many issues related to the jewellery market. Foremost is the lack of proper policies and regulations related to the production and other issues related to the market. Mani Ratna Shakya said, &ldquo;The government inspects and charges our shops without any proper policies and we are still unaware about the framework of our working area as government has not prepared any regulations.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Traders say the unavailability of raw material, lack of awareness among sellers and buyers, security risk and lack of skilled manpower have hindered the industry&rsquo;s growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;We can easily get a million dollar order from the US at present. Several American importers are interested in Nepali jewellery but we have not been able to export. Once we have the same export provisions as in India, the export of our jewellery will increase significantly. Therefore, the government should ease the export of jewellery.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Over 80 percent of the skilled manpower working in Nepal come from India and other countries. &ldquo;We are not being able to generate skilled manpower within the country and this might cause a huge problem in the days to come,&rdquo; said Shakya adding that this can degrade the quality of the jewelleries.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/jewellry%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
			'modified' => '2013-11-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items.',
			'sortorder' => '1982',
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			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2046',
			'article_category_id' => '153',
			'title' => 'Two-wheelers Getting More Riders',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the arrival of the main festivals in Nepal, the mob of people is seen around the motorcycle showrooms to grab the offers and schemes provided by various companies on the occasion of festivals. Adhir Kumar Shrestha, Assistant Managing Director of V.G. Automobiles Pvt. Ltd said that the sale of motorcycles has increased to double following the offers. This company has already sold around 1,200 units of motorcycles in short span of being authorized dealer of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shekhar Golchha, President of the Nepal Automobile Dealers&rsquo; Association (NADA) said that the size of the market increases during the festival season because of the trend of buying new things during the special occasions. He said, &ldquo;Around 20 to 50 per cent of total sale of two wheelers on Nepal is during Dashain.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added, &ldquo;The first choice of people after having some amount of money is automobile and Dashain is the most suitable occasion for the people to buy new things in the family.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The road widening drive in Kathmandu and other cities in the country started some time ago. However, most roads still await completion. &ldquo;Having wide roads will definitely have a positive impact on the industry,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	After the continuous dropdown of the two wheelers market for more than two years, the market has again picked up the pace. As per the data of Department of Transport Management the import of two-wheelers rose 22 percent in the first nine months of the fiscal year compared to the same period last year.</div>
<div>
	&nbsp;</div>
<div>
	Analyzing the data of past one decade, the motorcycle segment has witnessed a very impressive growth. The number of two-wheelers has grown from 26,547 in fiscal 2003-04 to 175,381 in fiscal 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	One of the largest players in the two-wheeler scene in the country, HH Bajaj, reported that they had witnessed a growth in sales of more than 40 percent. The company has so far sold around 30,000 units of two-wheelers. Shekhar Golchha, executive director of HH Bajaj, said that the reason behind the increase in sales was the bounce-back effect afterv a huge fall.</div>
<div>
	&nbsp;</div>
<div>
	The enormous growth the two-wheeler segment has been witnessing annually has been spreading to areas outside the capital city. While the market for two-wheelers has come to a saturation point in the Kathmandu valley, sales outside the valley have seen a massive growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Factors in Increasing Sales</strong></span></div>
<div>
	The easy availability of auto loans at a lower interest rate compared to the past few years has contributed to the growth in auto sales. Currently, finance companies are offering auto loans in the range of 9.5 to 12 percent interest. &ldquo;As two-wheelers are the means of transportation of the general people, easy availability of finance has played a positive role in the increment in sales,&rdquo; Golchha said. Meanwhile the sales of two-wheelers had increased as public transportation isn&rsquo;t reliable in the country. Launching of schemes by motorcycle dealers round the year and new model rollouts too have aided growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Problems and Challenges</strong></span></div>
<div>
	Traders say that the license distribution system of Transportation Management Department is capital centric which has been creating problem to the license holder outside the valley. This has been degrading the sale as the facility of trial for two wheelers is only in Pokhara and Kathmandu after the upgrade of license distribution system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector.&nbsp;</div>',
			'published' => true,
			'created' => '2013-10-28',
			'modified' => '2013-11-11',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.',
			'sortorder' => '1938',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1992',
			'article_category_id' => '153',
			'title' => 'A Click Here And A Market There: The Growing Camera Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Everyone has memories &mdash; bitter or sweet. With time memories tend to fade, but if you want your memories to sweeten as they age then thank technology &mdash; the camera is at your service.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that because of the festive season, the sale of cameras - be it digital or SLR have been increasing. The camera is being recognized as a necessary gadget in today&rsquo;s context. Its significance has increased much in festivals. People prefer cameras to capture moments of joy and during festivals and other occasions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growing Trend</strong></span></div>
<div>
	There are a variety of cameras in the market including digital cameras and high resolution single lens SLRs. Digital cameras are preferred by people as it is easy to carry and easier to handle. Similarly, DSLR cameras are used by people for better quality pictures or to cover wider shots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the advantages of the digital camera is that there is no limitation in the number of pictures that can be taken. Along with this, the pictures captured can also be transferred to computers and can be developed according to the wish and feasibility of the people. People prefer digital cameras to analog cameras as they cannot capture the picture more than the number set in the photographic film. Traders say that the increasing trend of these digital cameras have an effect on the sale of branded cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The growing market of digital cameras clearly shows the growing interest of people towards it. Traders opine that digital cameras have a lot of opportunities in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Camera" src="/userfiles/images/FOCUS1.jpg" style="width: 550px; height: 347px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Brands Available in the Nepali Market</strong></span></div>
<div>
	With a large variety of cameras in the Nepali market, some famous brands available in the market are Canon, Sony, Samsung, Philips, Panasonic, Nikon and others. &nbsp;All authorized dealers of these cameras in the Nepali market have introduced new model cameras during the festive season with a series of offers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market is full of stores that deal in digital cameras of different brands. &nbsp;Stores in New road like Galaxy Photo, Royal Traders, New Amber Impex, Digital Camera Spot and more deal popular brands like Nikon, Canon, Sony, Samsung, Fuji, Olympus, Panasonic and Kodak for compact digital cameras with one year warranty. These stores also sell professional Digital Single Lens Reflex Camera (DSLR) of all brands mentioned.</div>
<div>
	&nbsp;</div>
<div>
	Primex International - Canon&rsquo;s authorised dealer in Nepal; Him Electronics - authorized dealer of Samsung in Nepal; and NepaHima Trade link - authorized dealer of Sony have introduced a new model of respective cameras on the occasion of Dashain and Tihar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	New Amber Impex also has camera accessories of brand UBCX such as camera bags, tripod, camera case, filter and more as per the requirement of the customers. About the cameras found in Galaxy Photo Mukesh KC, a staff at New Amber Impex informs, &ldquo;The products are from Singapore whereas the brands are Japanese.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Most products at these stores are from local authorised dealers where Purushottam Thapa, staff at Royal Traders shares, &ldquo;The brands are all Japanese and the cameras are assembled in China.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	There are various kinds of digital cameras available in these stores in Kathmandu where the customers can opt for simple portable compact digital cameras as well as professional DSLRs. According to Sunil Goel, staff at New Amber Impex the brand Sony also has water proof compact digital camera.</div>
<div>
	&nbsp;</div>
<div>
	There are various series where the function and system varies accordingly and he adds, &ldquo;In the compact digital camera of Sony WX50, you can get a panorama function for a wider view and a 3D movie function as well. Likewise, in compact digital cameras of Cannon IXY420F, you will get high mega pixels, full HD, Image Stabiliser with Wifi and a touchscreen.&rdquo; Shopkeepers say that while purchasing a camera one must look into the print order that compact digital cameras offer rather than high megapixels. The quality of print depends upon the print order where Sony has A3 size print order, Cannon has A2 and Samsung has A1.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In portable digital cameras, you can get colours as per your wish ranging from silver, black, pink, blue and more. &ldquo;The camera must have cases or bags. And while handling a compact digital camera, it would be better if you use the strap of the camera while using it,&rdquo;says KC from New Amber Impex.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status in Nepal</strong></span></div>
<div>
	The customers are interested in digital cameras as they can get a high resolution camera in relatively cheaper prices. At a minimum price of Rs 7000, people can get cameras with a focus of 8 megapixels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The traders say that in comparison to the brands of other countries, customers prefer the brands of Japan and Korea. Digital camera of Sony from japan is popular in Nepal. Dinesh Agrawal, Sales Manager of Primex International says that this brand is more popular in the Nepali market as it has various new features in comparison to other old model cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly the price of the digital camera is also decreasing because of high competition between various brands of cameras. These cameras attract customers because of their portability, easy handling features and various features with&nbsp;</div>
<div>
	high quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges</strong></span></div>
<div>
	Encouraging growth in sales aside, traders are experiencing various hurdles in this business. Though the competition is very high, traders claim that quality maintenance is not fair in the market. With the plethora of products available in the market, complaints about duplicate products are also on the rise. The growth of unhealthy competition and duplicate products that degrade market credibility is one of the few negative aspects in this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Photo Shop" src="/userfiles/images/FOC.jpg" style="width: 575px; height: 207px; margin-left: 15px; margin-right: 15px;" /></div>',
			'published' => true,
			'created' => '2013-10-21',
			'modified' => '2013-10-28',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.',
			'sortorder' => '1880',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1951',
			'article_category_id' => '153',
			'title' => 'Opinion: ‘Possibilities Of The Commodity Market In Nepal’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size:14px;">The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;The possibilities of Commodity Market in Nepal&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. Experts from the commodity market presented their opinion on the current status of this sector. <strong>Excerpts:</strong></span><br />
	<br />
	<img alt="Paristha Nath Poudyal ,Director, Securities Board of Nepal (SEBON)" src="/userfiles/images/pnp.jpg" style="width: 150px; height: 188px;" /></p>
<p>
	<strong>Paristha Nath Poudyal<br />
	Director, Securities Board of Nepal (SEBON)</strong><br />
	<br />
	&bull; The budget of 2070/71 has fixed that the regulation of the commodity market will be done by the Securities Board of Nepal (SEBON). For implementing this decision we have received a working procedure from the Ministry of Finance. We have been directed to submit an ordinance or some legal works to the ministry by mid November.<br />
	&bull; We have already completed two levels of discussion for this. We are improving the market first and then regulating it.<br />
	&bull; We have been studying the regulatory process of various countries like India, Singapore, Hong Kong, United Kingdom and others. We will develop the regulation process according to the context of our country by discussing with stakeholders and studying all other countries&rsquo; regulations.<br />
	&bull; The regulatory body is just a facilitator and we will work accordingly.<br />
	&bull; Rather than the board, the issues related to regulations should be a matter of concern to the government and it should not delay the task.<br />
	&bull; Training for investors is essential. This year we have planned to establish the &lsquo;Capital Market Research and Training Institute&rsquo;. This effort is meant for developing the skills of investors.</p>
<p>
	<br />
	<br />
	<img alt="Dipendra Khatiwada" src="/userfiles/images/dk.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Dipendra Khatiwada<br />
	Managing Director, Mercantile Exchange Nepal (MEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The major necessity of today&rsquo;s market is regulation. We have been requesting the government for the formation of regulations from a long time. Regulations develop assurance and build trust among the public.<br />
	&bull;&nbsp;&nbsp; &nbsp;Regulations are not complete in themselves. They should be formed in such a way that they can support exchange companies as well as develop credibility among people.<br />
	&bull;&nbsp;&nbsp; &nbsp;Gold imported to Nepal is not of high quality. Though the gold is said to be of triple line, we should examine whether they are really of that standard. Such checks develop credibility in customers but Nepal does not have such facilities.<br />
	&bull;&nbsp;&nbsp; &nbsp;We do not have the mechanism to verify the quality of goods. If those mechanisms are in places, we can import any goods. Laws should be practical and only goods that can be verified should be imported.<br />
	&bull;&nbsp;&nbsp; &nbsp;There is no investment friendly environment in this market. The willpower of investors has decreased. So the establishment of a warehouse in Nepal is not possible for at least 5 years. Only the regulatory body can bridge the gap.<br />
	&bull;&nbsp;&nbsp; &nbsp;Other financial instruments can be promoted in this condition. Commodity is itself a financial instrument. Hazing platform, price discovery and price dissemination can be developed in the form of financial instruments.<br />
	&bull;&nbsp;&nbsp; &nbsp;Without the will power of the government, people from the outside the government cannot do anything. The government is unable to decide on the issue of formation of regulation for the commodity market which has created problems.<br />
	&bull;&nbsp;&nbsp; &nbsp;We are dealing with exchanges only in our market. Supply and distribution is not possible in such a situation. In international practice too it is seen that in the exchange process, 5 per cent win and 95 percent lose. This reality should be realized by investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;There are frequent transactions happening in the market. Though the quantity has decreased, the quality of transactions has increased and increase in quality is more essential than quantitative increment.</p>
<p>
	<br />
	<br />
	<img alt="Ram Sharan Upreti" src="/userfiles/images/rsu.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Ram Sharan Upreti<br />
	General Manager, Everest Commodities Limited</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The problems of the commodity market have been divided into three parts. The foremost problem is the failure of the government to formulate policies; secondly, there is no uniformity in the working policy of commodity exchange companies; and thirdly, the investors are not properly educated about this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Concerned stakeholders have been discussing issues of the commodity market from the very beginning and stakeholders have been raising their voice regarding this issue. But the government is not showing its concern on this matter. The commodity market has a significant position but the government has not raised any issue regarding this market at discussions of the economy of the country.<br />
	&bull;&nbsp;&nbsp; &nbsp;The failure of conducting a proper exchange operation module is also a problem in this market. There are 10 exchanges operating in the market with different trading modules.&nbsp; Presently, there are two-three types of trading module in Nepal. These modules have different trading and pricing processes which has cause confusion among customers. An appropriate module for the market has not been identified yet which has minimized scope of new opportunity for investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;Lack of proper awareness among investors on the commodity market is also a major problem in this sector. This market has been famous as a glamorous sector. Because of the same reason, the market reached its peak in a short period and did not take long to fall. The people have just understood it as an exchange market.<br />
	&bull;&nbsp;&nbsp; &nbsp;People who do not have proper knowledge come to this market and because of them, the market loses credibility.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market has been in operation for six years. But till date, real investors and organizational investors have not entered the market. Exchange companies have not been able to do something significant in the derivative mechanism.</p>
<p>
	<br />
	<img alt="Santosh Pradhan,Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/ssp.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Santosh Pradhan<br />
	Chairman, Nepal Derivative Exchange (NDEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Commodity exchange is not complete in itself. There are various factors responsible to run this market smoothly. In the context of Nepal, actual commodity exchange has not been practiced yet.<br />
	&bull;&nbsp;&nbsp; &nbsp;An appropriate commodity exchange friendly eco-system is essential for this. The laws and physical infrastructure favourable to this market should be maintained. We must be able to access agricultural products in the international market by storing it in a facilitated warehouse.<br />
	&bull;&nbsp;&nbsp; &nbsp;The government should at least bring an ordinance to maintain regulations and issue license to exchanges and brokers.<br />
	&bull;&nbsp;&nbsp; &nbsp;Exchange companies should be specialized on the basis of their operation procedure, software, human resources and other measures of standardization. Unless this is done, all exchange companies have their own term of standards and they move forward with different schemes.<br />
	&bull;&nbsp;&nbsp; &nbsp;Transaction through warehouses can be the baseline for systematic initiation in this market. In the medium level this market can be developed through big financial institutions, and stakeholders and their trade risks can be addressed through the commodity market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal can be developed as an international financial center. The trade of gold and silver can be done in Nepal in bigger investment. National as well as international investors can invest in this and manage their portfolio.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal is not in condition to run 10 commodity exchange at present. Maximum two exchanges would be enough.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Santosh Pradhan, Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/bs(1).jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Bijesh Shrestha,<br />
	President and Managing Director, Asian Derivative Exchange (ADEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Everything has a fixed life cycle and so does a commodity market. The commodity market was established in Nepal in 2006 AD and during 2009-2011, it attracted a lot of investors. This expanded the market by mid 2012, it became mature. Anything that experiences drastic growth in a short period of time does not last long and the same thing happened to the commodity market. The market has completed a life cycle and it has to revise itself now with some improvements in regulations and other aspects.<br />
	&bull;&nbsp;&nbsp; &nbsp;Only paper transactions are being done in the commodity market&nbsp; till date. The market grew drastically and crashed immediately because of which customers are losing trust. Trust can be regained by forming a strong base. Similarly, improvement in the capital market and the real estate market is also essential for improving this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Though there are 10 exchange companies operating in the market, the number of investors does not exceed from 50-60. This shows decrement in the number of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The regulatory body should pave the way for regulations and the exchange companies should follow it. This market should include transactions of exchange index and Nepse index to attract investors.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Abhisek Gautam" src="/userfiles/images/ag.jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Abhisek Gautam<br />
	General Manager,Commodity Futures Exchange (CFX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;There are more investors observing loss than earning profit in the commodity market.&nbsp; The number of customers in this market has decreased compared to the previous year. This market can observe negative effects which are created because of mismanagement of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market lacks novelty at present. We are using the same old things just with some modification. There have been change in the marketing procedure but production and market is the same.&nbsp; The numbers of investors are decreasing because of security issues in the market.<br />
	&bull;&nbsp;&nbsp; &nbsp;The expansion and recession in the commodity market is directly proportional to the economic cycle. The market has been experiencing recession these days but it was booming some months ago. Everything has its own pace but the commodity market rose exceptionally fast and is experiencing downfall now.<br />
	&bull;&nbsp;&nbsp; &nbsp;Some national and international organizations have been boosting agriculture production, commercialization and pricing in Nepal. Those agriculture products should be included in this market but we are failing to do so as the act related to the warehouse has not been formed yet. Also not formed are shares, treasury bills and other financial instruments that would make the market more effective.</p>',
			'published' => true,
			'created' => '2013-10-07',
			'modified' => '2013-10-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘The possibilities of Commodity Market in Nepal’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1809',
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1902',
			'article_category_id' => '153',
			'title' => 'E-commerce Talks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;Demystifying New Mode of Trade and Payments&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. This interaction was dedicated to clear the existing technology that has been replaced by new technologies in the fields of trade and payments. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. <strong>Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Biswas Dhakal" src="/userfiles/images/bs.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Biswas Dhakal</span></strong></div>
<div>
	<strong><span style="font-size:14px;">President, F1Soft International Ltd</span></strong></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Our main objective is to facilitate customers with new and easy services. Other companies also carry similar objectives to make life easier for customers through digital transactions. Every transaction should be a digital transaction, be it large banking transactions or daily life transactions. We have initiated the online transaction service with this same purpose. This brings money to the banking sector and also increases investment. Remittance, which has covered large areas in the Nepali economy, is also brought to the country through online systems. The procedure of an online system is very easy and can be used by everyone. It can be done by simply sending an SMS and people are seen to be interested towards this service. But due to various reasons, the popularity of this system has not increased yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem of the digital system is a lack of its credibility among people. But the system is totally secured from our side. We have adopted international norms for security in the system. Our first priority is to provide secured transactions and we have not received any complaints regarding security and services from our customers.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main obstacle for digital transaction in reference to the worldwide global practice is digital illiteracy. Moreover, in an education deprived country like ours, the problem is huge. So it is impossible to achieve hundred per cent digital coverage in Nepal. However, our concept is to move from developed to less developed areas. For example, 50 per cent families of Kathmandu have their representatives abroad. A major responsibility for those abroad is to send money to their family. If we can convince the people in Kathmandu towards online transaction, they can opt for a digital medium as their mode of transaction. Moreover, the family in Kathmandu can also use an online medium to send money and other materials abroad. We can then enter rural areas as well. Using personal brand ambassadors rather than our individual effort for promotion would be more effective.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>There is a misconception that few government policies have created obstacles. However, if all processes are completed, it is not that difficult to work. Everyone involved in transaction has their own process. The Nepal Rastra Bank also has its own policy. The foreign exchange department also has its own policy. We cannot exist for long in this sector if we bypass their policies. According to the policy of the Nepal Rastra Bank, a private organization cannot hold funds of customers. So, we appointed banks for the payment and provided the custody of customers&rsquo; money to them. Similarly, foreign currencies are also handled by banks. So, there are no hurdles due to rules and regulations if they are handled properly.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Samir Vajracharya" src="/userfiles/images/sv(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Samir Vajracharya</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technology Officer, Smart Choice Technology</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Smart Choice Technology (SCT) started in 2001 AD when there were hardly 4-5 ATMs and 10,000 cards. Currently, there are 15, 000 cards under the SCT network only and more than 18,000 people with access to cash. A total of 85 financial institutions are affiliated with SCT. &nbsp;We have focused on ATM transactions and Point of Sale (POS), mainly. There is a vast difference in the situation now and then. Our vision is to provide easy access to financial activities to the people and we have been successful in our mission to a large extent. This does not mean that this is the line of satisfaction as a large number of people hesitate to use ATMs still.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Nepali market is not ready for e-services, which has been the main hurdle for increment in the online market. We should be able to make people aware about the importance of online transactions so that their interest level towards this service increases.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is not being able to lead this sector which is also seen as a major problem. The government should introduce some compulsory regulations regarding online services to increase people&rsquo;s involvement in this sector. This is only due to the contribution and dedication of the private sector that online services have reached up to this level. But without support from the government, the online sector cannot sustain for long. The private sector is profit-oriented, but if the government sector takes charge then this sector can be service-oriented.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Though the issue of security is big in this sector, SCT is very much concerned about the security issue and has worked on it. Our cards are based on pin codes which are the safest medium in this sector in comparison to a signature as it can be copied.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Customers have to face problems because of problems in network but these problems are not solely from theSCT network. There are various service providers including telecom, banks and others involved with it. This is difficult to manage as network problems may arise anywhere anytime. People should be aware of this.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Poorly developed infrastructures and a lack of skilled manpower are also major obstacles in the context of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are also facing problems because of political instability and power cuts. The companies from foreign countries are interested to work with us which is a positive sign for us but these vital problems are blocking them to work with us. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Similarly, there is a lack of government policy. The central bank should provide a benchmark to other banks for e-payment. It is difficult for the private sector to work without a benchmark. We are discussing with concerned authorities to solve these issues.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<img alt="Rabin Kumar Shrestha" src="/userfiles/images/rks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" /><span style="font-size:14px;"><strong>Rabin Kumar Shrestha</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technical Officer, PayBill</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are making maximum efforts for improvement of the online sector but we are not getting results accordingly. There are various reasons for this. Firstly, people are not aware of this system. Most people still believe that the internet is only limited to the social media. They are not aware that various transactions can also be done through the internet. These people can be attracted to this sector if they are made aware.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The issue of security is also a major concern but this system is very much secured. Customers should send two smses to transact from PEBIL. After the first sms, we send an alpha code to the customer and after that the customer must send both the alpha code and pin through sms. Only after this will they will be able to transact. So, this way our system is secured but people are still not convinced.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Subas Dhungana" src="/userfiles/images/sd.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" />Subash Dhungana</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Executive, iPay</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>iPay is an online payment system. We have been operating Muncha.com since 2002. Our services were limited to gift packages for long though we were not satisfied with the results. But some positive signs are emerging now based on which we are expanding our services. &nbsp;We have moved towards bringing remittance and media sites for downloading files along with online shopping. We have made agreements with seven banks for this purpose recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main reason behind the failure of e-commerce sites is the failure of payment to customers. For online payment, there are e-sewa, PayBill, SCT, credit card and our own production iPay which are associated with seven banks. But if the customer is asked to pay online, then s/he makes various excuses as they are not aware of these services. So cards of Nepali banks should get international validity for easy access to online payment. Around 20-25 people register in Muncha.com but at the end, they have problems with the payment system. Therefore, an easy way for payment should be initiated with support from the government or the central bank. Though these issues are discussed, we are lacking behind in implementation. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We have not faced any problem regarding security, nor have we received any complaints. We are practicing international norms of security in our system. We can&rsquo;t say that the online medium is hundred percent secured but problems have not occurred yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Political instability is also main problem for this sector. The number of internet users has increased, but political stability is must for the sector&rsquo;s rapid growth. Political stability brings employment, and it is when people are engaged and busy that they start engaging in online activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Bal K. Joshi" src="/userfiles/images/bkj.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Bal K. Joshi</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>President, MACHNET</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal has immense potential for e-commerce. Though there is not much expansion in this sector, the condition has not worsened. There are a lot of websites conducting e-commerce and their businesses have increased through the medium. The expansion of the market for e-commerce depends upon target customers and identifying their needs.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem at present is not being able to invite international transactions to our country. PayPal is popular for this at national and international levels. But there are some procedural problems in the use of PayPal digital transaction in Nepal. The customers have to pay an extra fee to send the money. For example, if a person has to send 2000 dollars then s/he will have to pay around 2500 dollars. So, there is no prospect for using PayPal to expand the digital transaction market in Nepal. We are introducing a new platform related to money transfer for the first time in Nepal to make it easier for Nepali customers to transfer money from abroad.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-30',
			'modified' => '2013-10-08',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘Demystifying New Mode of Trade and Payments’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1763',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '1862',
			'article_category_id' => '153',
			'title' => 'Third Money Expo 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Third &lsquo;Money Expo 2013&rsquo; is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.&nbsp; Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation. The expo will host stalls of bank and financial organizations, capital market and&nbsp; insurance companies among others.&nbsp; Various regulatory bodies will also be participating in the event. There will be 125 stalls in total and different conferences related to share markets, investment in infrastructures, mutual&nbsp; funds, private public partnership, microfinance and use of new technology in commodities and financial markets will be held.&nbsp;</p>
<p>
	Organizers have informed that entrepreneurs from India, Europe and Middle East Asia will be participating as well. &ldquo;The government aims to uplift the country to the status of a developing country by 2020 AD. High levels of investment from private and public sectors are necessary for this and the expo aims to be a platform for the investors&rdquo;, say the organizers. The Money Expo will host discussions on various issues such as investment of remittance in productive areas, making investments project focused, and the demands of the comparatively liberal policy to invite foreign direct investment in infrastructure development.&rdquo;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'Third ‘Money Expo 2013’ is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.  Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation',
			'sortorder' => '1723',
			'image' => '1379935089.jpg',
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1861',
			'article_category_id' => '153',
			'title' => 'Problems And Challenges Of BFIs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme &lsquo;BFIs: Problems and Challenges&rsquo; was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:</p>
<p>
	<br />
	<strong>&lsquo;Financial Sector is Completely Secured&rsquo;</strong></p>
<p>
	<strong><img alt="bhaskar" src="/userfiles/images/Bhaskar.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 177px; " /></strong></p>
<p>
	<strong>Bhaskar Mani Gnawali</strong></p>
<p>
	<strong>Spokesperson, Nepal Rastra Bank</strong></p>
<p>
	&bull;&nbsp;&nbsp; There was an influx of financial institutions after the implementation of the Liberal License Policy which created unhealthy competition between the institutions. This resulted in maximum investment in the real estate sector, and thereby created problems in the financial sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; After that, the central bank decided to control loans in the real estate sector and a deposit insurance policy was also introduced. There is now a system of deposit insurance up to Rs 200,000 for all&nbsp; deposits of natural persons, so that there is no fear to deposit money in any bank and financial institution.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Influx of banks and financial institutions with the Liberal License Policy brought problems in the financial system. To control these problems, the central bank came up with a merger policy which has been successful thus far. We have brought this policy for the qualitative development of financial institutions and their sustainability. The merger is not a compulsion &ndash; it is a demand of the times.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The merger policy has not only increased the investment capacity of financial institutions but also performed as the check and balance mechanism. It has also discouraged financial crime.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There are altogether 175 financial institutions, including all types and classes of banks. This is still an excess number in the context of Nepal.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Rural access is increasing with the help of microfinance companies. Until now, 35 microfinance institutions have been permitted to operate and there are more coming in.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Medium level development banks have also helped a lot to raise the rural economy and alleviate poverty in Nepal. Model banking can be the best example for development in the country.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Total deposit in the financial system of Nepal amounts to Rs 1300 billion. Out of this, only about Rs 700 billion has been invested in real estate. This shows that investment in real estate won&rsquo;t be affecting the banking system of Nepal in the upcoming days.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Bank and financial institutions have to invest at least 12 per cent in the agriculture and hydro sectors. We have also planned to invest 20 per cent in the productive sector.<br />
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Failure to implement&nbsp; Secured Transaction Act as a Problem</strong></p>
<p>
	<br />
	<br />
	<strong><img alt="rajan" src="/userfiles/images/rajan(3).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajan Singh Bhandari</strong></p>
<p>
	<strong>President, Nepal Bankers&rsquo; Association</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the Secured Transaction Act is promulgated, it has not been implemented till date. This is seen as a problem.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The task of registering collaterals should be given to the credit Information Bureau. This reduces the possibility of double investment in working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Lately, because of unhealthy competition among some banks, there have been possibilities of double exposure in a single borrower through working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The capital fund of banks is very strong. So, investment in real estate is a small amount. This will no longer create long term problems in the banking sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though there are a lot of opportunities, there is no favourable environment for investment. Deposits and loan investment have doubled in four years but there is no change in the growth rate of the banking sector which is still around 4 per cent.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There is no technical risk in the banking sector. They are expanding technical services and facilities which have benefited this sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Banks are capable of securing themselves from probable operational risks. The check and balance system of the banking sector is effective.</p>
<p align="left">
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Need Classification of Development Banks</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="krishna" src="/userfiles/images/krishna.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Krishna Raj Lamichhane</strong></p>
<p>
	<strong>President,<br />
	Development Bankers Association, Nepal</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; The main problem of development banks is its classification. There are some such banks with higher amount of paid-up capital as well as small paid-up capital. So, the issues of these banks are different. The small development banks have competition with cooperatives whereas big ones have competition with commercial banks. Thus, classification has been a major issue of development banks.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The central bank has been providing various facilities to development banks expanding branches in rural areas, but not to those which have the main office in rural areas. In fact, those banks with head office in rural areas need support and assistance. They are working with low capital and in spite of lack of skilled man power. The government should help them in risk minimization.</p>
<p align="left">
	&bull;&nbsp;&nbsp; People in rural areas are less aware about banking habits compared to urban people. Along with this, lack of skilled man power, weak collateral, lack of security and infrastructure have increased risk of banking in those areas.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the number of development banks have decreased to 86 from 88, their branches have increased to 77 which is a remarkable number.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The working area of financial institutions should be divided during the classification of banks.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>&lsquo;We are not able to regain&nbsp;the trust of customers&rsquo;</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="rajan" src="/userfiles/images/rajan(4).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajendra Man Shakya</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Finance Companies Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Finance companies are diminishing rapidly and have reached 55 from a total of 88. We simplified the procedures of financial transaction for easy access among common people and high return in the financial system, but the misuse of these systems by some of our finance company holders and operators created problems. Besides this exception, the condition of finance companies is not that bad but we are still not being able to regain the trust of people.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The largest share of investment of finance companies is in real estate. More problems were created after the Nepal Rastra Bank introduced Dynamic Provisioning.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Investment stuck in real estate has not been recovered because of high investment and lack of new sectors for investment. Interest rate is high because of high investment.</p>
<p align="left">
	&bull;&nbsp;&nbsp; &lsquo;C&rsquo; class companies are facing problems as the regulatory body has included all financial companies under the same umbrella.There are some issues which only &lsquo;C&rsquo; class companies are facing, and which should be addressed by separate regulations.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Loan recovery is also seen as a problem these days. Most finance companies invest large amounts of money on land, houses and businesses knowingly or unknowingly. Loans taken in the name of business and commerce is also being used for investing on land and houses.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We have no right of prompt decisions as commercial banks. They can increase or decrease the interest rate according to their convenience but we are not allowed a make difference on loan amount. So, customers who don&rsquo;t have access to commercial and other banks come to us. But the problem of investment is interest rate. The depositors seek higher interest rate because of high risk, and so finance companies have to collect deposits by providing high interest than that of commercial banks. Therefore, we should be giving priority to invest in sectors where the return of investment is secure.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>Problems in Expanding Microfinance Services</strong></p>
<p>
	<br />
	<strong><img alt="dharma" src="/userfiles/images/dharma.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Dharma Raj Pandey</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Microfinance Bankers Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Micro finance basically deals with poverty alleviation, providing loans without collateral in rural areas, collecting small savings and providing micro insurance services. So, it has high cost and cost reduction has been a major challenge.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Expanding services in rural areas is our responsibility. But we are facing difficulty in expansion because of limited capital and high cost. Access to rural areas, management of skilled manpower and information system has also been major problems for us.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Microfinance has to be better understood. They conduct programmes for poverty alleviation which is unlike conventional financial institutions. Beyond loans and deposits, we also focus on other activities like generating skilled manpower, helping them to make plans. We inspect during implementation of the business plan or help in accessing people and their products in the market. It heightens our cost and risk so the central bank has to support us further through monetary policy.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We are not able to expand our services throughout the country. There are still 10 or 11 districts where micro finance services are not available. Within three to five years, we aim to reach each and every district of the country.&nbsp; For this, the government has to support us in organizational development.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The government has not been able to make proper evaluation of the financial services that support sustainable development objectives. Services helping the rural people access finances should be acknowledged by the government.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The size of loan is increasing these days which has increased the risk. We have been planning to formulate self regulation.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Like any other organizations, microfinance also needs some profit as it has to satisfy its customers with return of investment, risk bearing and expansion of its services. Therefore, the interest rate is high and we are trying our level best to reduce it.</p>
<p align="left">
	&bull; Another challenge of this sector is lack of skilled manpower and poor information technology system.</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme ‘BFIs: Problems and Challenges’ was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:',
			'sortorder' => '1722',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1822',
			'article_category_id' => '153',
			'title' => 'Nepal Emerging As A Global Auto Hub',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	With the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Focusing on the booming automobile market that had been on a downward spiral for the past three years, Nepal Automobile Dealers Association (NADA) in association with the Global Exposition and Management Services (GEMS), an event organizing company, organized the &lsquo;NADA Auto Show 2013&rsquo; to promote Nepal as a good market for automobile business.</div>
<div>
	&nbsp;</div>
<div>
	The auto show, which concluded last week, showcased the passenger car, two and four- wheelers, tyres and tubes, components and sub-assembly accessories, off-road vehicles, tractors and farm equipment batteries, environment and safety equipments, &nbsp;air-conditioning, trucks and bus lubricants, auto finance, auto insurance, garage equipment and auto paints.</div>
<div>
	&nbsp;</div>
<div>
	A total of 69 exhibitors, including local as well as international brands, displayed their products and services in 100 stalls. Automobile companies from Nepal, India, China, Korea, Japan, USA, Germany and Czech Republic, among others participated in the event. The auto show this year had different sections for two-wheelers, four-wheelers and commercial vehicles to cater to the need of segmented as well as general visitors.</div>
<div>
	&nbsp;</div>
<div>
	Inaugurating the Auto Show 2013, Finance Minister Shanker Prasad Koirala said the fair could help boost the transportation sector, which is considered an essential component for improving an economy. &ldquo;The government is considering revising the customs duty on the vehicle imports following the commitment at SAFTA and World Trade Organization,&rdquo; Koirala added. He said that in spite of a lot of possibilities in the automobile industry in Nepal, this sector has not improved as expected and government is ready to support this sector.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Visitors are seen as attracted by hatchbacks as compared to any other segment of four-wheelers,&rdquo; said Shekhar Golchha, President of NADA. &ldquo;The small car segment appeals to many as it is easier to navigate through the narrow and crowded traffic of Kathmandu, not to mention to cope with the dearth of parking space,&rdquo; he added. Golchha emphasized on the preference of small cars because of jerky roads all over the valley. &ldquo;These small cars are ideal to drive in the bumpy roads of Kathmandu valley and for those who are buying a car for the first time. New brands of cars are preferred by those who change their cars frequently but the demand of small cars is higher.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 269px;" />The Current Market&nbsp;</strong></span></div>
<div>
	According to Gopi Krishna Neupane, General Secretary of NADA, the market of automobiles has increased significantly than in the previous fiscal year. &ldquo;We have almost all international brands in our Nepali market including Nepali products,&rdquo; Neupane said. &ldquo;Sales have improved this year though it had significantly dropped in the previous years. Sales of both four-wheelers and two-wheelers had gone down last year.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to data provided by the Department for Transport Management, 208,500 units of vehicles were sold in Nepal in the fiscal year 2012/13 which is an increment of 28, 000 units from the previous fiscal year. Only 1, 70, 000 units of vehicles were sold in the fiscal year 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	Neupane added, &ldquo;Around 50 national and international companies are present in Nepal and are dealing in automobiles, providing employment to around 1.7 million people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Golchha said that the annual transaction of the automobiles in Nepal has crossed over Rs 50 billion, which is encouraging the people working in the industry.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 313px;" />Problems and Challenges</strong></span></div>
<div>
	Transportation has always played an important role in the economic and social development of any state. &ldquo;But business in Nepal has been directly hindered by the massive customs duty on the import of vehicles,&rdquo; said Golchha. He also pointed out the increment of 5 per cent excise duty while entrepreneurs try to reduce the customs duty which has pushed this business backwards. He also complained about the high fuel price, the crude manner in which prices of spare parts are fixed at customs offices, and problems created through the open border as major problems facing the country&acute;s automobile sector. &ldquo;Nepal has been levying 241 percent duty, including excise duty, customs tax and VAT on four-wheelers and 80 percent on two-wheelers. This is the highest imposition of tax on automobiles in the world,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector. &ldquo;Automobiles are essential for the growth of the economy but the government&rsquo;s negligence towards this sector has been a main factor that has held it back,&rdquo; Pradhan mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Future Prospects&nbsp;</strong></span></div>
<div>
	The auto dealers in Nepal are focusing towards the expansion of this market. Lately, new brands of automobiles are being introduced to the Nepali market on a weekly basis. Auto dealers are experiencing tough competition in introducing user friendly two and four- wheelers in the market. However, along with the rise of 25 per cent in sales, positive signs are emerging to indicate that the future of automobiles in Nepal is not dark.</div>
<div>
	&nbsp;</div>
<div>
	According to Neupane, &ldquo;99.5 per cent of Nepalis do not have access to four-wheelers. With a population of 26.4 million and the number of four-wheel vehicles around 1.5 million, we arrive at the ratio of five families to one vehicle. Based on this data, there are a lot of possibilities for the automobile market in Nepal. &ldquo;Only the market of Kathmandu valley does not depict the extent of the automobile market here; there are 73 districts in Nepal facilitated by motor ways. This shows that the market is growing outside of the valley too,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/fcs3.jpg" style="width: 550px; height: 233px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-17',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.',
			'sortorder' => '1683',
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '1780',
			'article_category_id' => '153',
			'title' => 'Software Industries Flourishing In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country.</div>
<div>
	&nbsp;</div>
<div>
	Supporting the growth, Computer&rsquo;s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	As per &nbsp;CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years.</div>
<div>
	&nbsp;</div>
<div>
	CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. &ldquo;Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Current Business</span></strong></div>
<div>
	The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million&ndash;Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million.</div>
<div>
	&nbsp;</div>
<div>
	A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent.</div>
<div>
	&nbsp;</div>
<div>
	A raw data recently showed that there are around 300 software companies in Kathmandu valley.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increment in Outsourcing Activities</span></strong></div>
<div>
	Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.</div>
<div>
	&nbsp;</div>
<div>
	There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. &ldquo;Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,&rdquo; said Balami.</div>
<div>
	&nbsp;</div>
<div>
	Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. &ldquo;We should bring Nepali ICT professionals, who are working abroad, to our &nbsp;country with capital and technology,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. &ldquo;Many developers were running the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,&rdquo; they stressed.</div>
<div>
	&nbsp;</div>
<div>
	There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities.</div>
<div>
	&nbsp;</div>
<div>
	Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Prospects of software business</span></strong></div>
<div>
	The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Way ahead</span></strong></div>
<div>
	In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.</div>',
			'published' => true,
			'created' => '2013-09-09',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world.',
			'sortorder' => '1641',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '2013-09-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1699',
			'article_category_id' => '153',
			'title' => 'More Demand For Cool Air',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.</div>
<div>
	&nbsp;</div>
<div>
	Growing urbanisation, surge in corporate offices, business complexes and shopping malls have pushed the demand for air-conditioners in the domestic market in the last few years. More than a dozen brands are competing in the Nepali market to cash in the growing demand for air conditioners.</div>
<div>
	&nbsp;</div>
<div>
	Air conditioners in Nepal are mainly imported from a number of East Asian countries like China, Malaysia, Japan and many more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market currently consists of varieties including the split type and the wall mount AC to ceiling cassette models from established brands including LG, Whirlpool, Beko, Panasonic, Yasuda, Midea, Gree, McQuay, Fuji Air, Mitsubishi, Daikin and Hyundai. Also available in the market are central ACs, but their sales are limited to big hotels, corporate buildings and shopping complexes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Distributors of the product say that the market for air conditioners in the country has grown by 25 to 30 per cent since its initial days, which reflects the rise in demand for ACs among upper class consumers and a compulsion for ACs in corporate houses, hospitals, shopping malls, hotels and commercial houses. &ldquo;Consumers of AC have doubled in recent years and the sale is expected to grow as the number of hospitals, hotels and other business houses are being constructed in an appreciable way,&rdquo; says Basuki Nath Thanur, Senior Manager-Commercial AC of Airtech Industries Pvt Ltd. According to Thanur, the products are mostly used by upper class consumers from big cities rather than the middle class.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="AC Brands in Nepal" src="/userfiles/images/airq.jpg" style="
float: right; margin: 0px 0px 0px 10px;width: 300px; height: 313px;" />Brands Available in Nepali Market</span></strong></div>
<div>
	A large variety of ACs including the single split type, the wall mountain, the ceiling cassette, ceiling suspended ACs, floor sanding ACs, duck able ACs, VRF or multi split ACs as well as central ACs are found in the Nepali market. Of the brands available here, customers prefer ACs imported from China and Malaysia as they are comparatively cheaper than&nbsp;</div>
<div>
	Japanese ACs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	ACs with a capacity of 0.75 tonne, 1 tonne, 1.5 tonnes and 2 tonnes are found in the market and are targeted at brand conscious people who do not mind paying a little extra for quality and reliability. Prices in the market range from Rs 58,000 to Rs 92,000. According to a company, ACs having capacity of 0.75 to 1.5 tonnes are appropriate for home use, while those with higher capacity are appropriate for&nbsp;</div>
<div>
	office use.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increasing Demand&nbsp;</span></strong></div>
<div>
	Along with the growing market, customers demand too is on the rise. A lot of customers including the big commercial houses and hotels are moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in living standards of people and the increment of various big commercial houses has forced traders to bring in products to satiate the need of customers. A leading importer mentioned that increasing demand has turned the market fiercely competitive.</div>
<div>
	&nbsp;</div>
<div>
	Even though the price of air conditioners has increased by around 20 per cent, traders dealing with popular brands say sales have increased four-fold since the beginning&nbsp;</div>
<div>
	of summer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Of the two types of AC widely sold in the market &ndash; domestic and office-use ACs - traders say sales of the wall mount AC has spiked considerably compared to split ACs that are fixed on the ceiling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	Some traders observe that the market share of air conditioners in Nepal is mostly covered by Chinese, Malaysian and Japanese brands, among which (roughly) 40 per cent of the market is covered by Chinese brands, 35 per cent by Japanese and 25 per cent by Malaysian brands.</div>
<div>
	&nbsp;</div>
<div>
	Traders have observed rapid expansion of the AC market in cities outside Kathmandu, with Narayangarh, Birgunj, Biratnagar, Pokhara, Bhairawa, Hetauda and Nepalgunj showing encouraging growth in the use of ACs. The eastern part of Nepal showed more demand for the appliance than the western part of the country and the gap in sales between Kathmandu and the rest of the country was shown to be narrowing.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges&nbsp;</span></strong></div>
<div>
	The encouraging growth in sales aside, traders are experiencing various hurdles in this business especially since competition is high. Traders claim that quality maintenance is not fair in the market and that with a plethora of products available, duplicate products are on the rise. With the growth of unhealthy competition, duplicate products have been degrading market credibility, which is the negative sign for business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other macro factors such as political instability and the rise of the dollar can be a threat to this business too. But despite these challenges, importers and distributors seem to have plenty to get going, as demand for air conditioners does not seem to show signs of subsiding as yet.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-26',
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			'description' => 'As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.',
			'sortorder' => '1560',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1655',
			'article_category_id' => '153',
			'title' => 'Foreign Language Skills Will Drive The Next BPO Boom',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujit Nath</strong></div>
<div>
	&nbsp;</div>
<div>
	The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.</div>
<div>
	&nbsp;</div>
<div>
	Businesses are expanding speedily and reaching even distant corners of the globe. Rapid changes are occurring in the way business transactions are conducted. Boundaries &ndash; physical and linguistic &ndash; are hence being naturally broken.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Globalisation has brought countries closer to each other, and there is now increased interaction between them. In such a scenario, knowledge of a foreign language shall go a long way in enabling improved communication and understanding.</div>
<div>
	&nbsp;</div>
<div>
	To attract more students many institutions are getting associated with coveted institutes such as Max Mueller, Alliance Francaise to ensure the holistic development of the students in terms of languages, which will help them in shaping their career in future.</div>
<div>
	&nbsp;</div>
<div>
	We all know that the best age for a child to pick up a foreign language is when he or she has attained an age of 6-8 years. But with working parents it is not always possible for them to go to such language schools. This is because of the time and budget constraints of their parents. Therefore, many of them are offering customised course classes to suit the timing and budget.</div>
<div>
	&nbsp;</div>
<div>
	A senior executive of Mafoi, a leading Indian placement agency that works for most Fortune 500 companies, says, &ldquo;Our clients have BPO assignment deals not only from France and Germany, but also from Belgium, Netherlands and other countries where these two languages are spoken. Speaking in their language gives confidence in the minds of the foreign clients with regard to their overseas BPOs for it shows that they are well-equipped to handle foreign business. This also helps in building personal rapport for knowledge of a common language, which definitely helps break communication barriers&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	On the context of students or professional from Nepal, she said, &ldquo;I have interviewed many girls from Nepal who has earned expertise in foreign language and doing quite well in USA, UK, Germany and Spain. Most of them were good at Spanish, French and German&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	She feels that Nepal has a great potential and especially the youths, who are talented enough to take up any challenges abroad. &ldquo;They are a good professional,&rdquo; she said.</div>
<div>
	&nbsp;</div>
<div>
	Mainak Sen, who stayed in Nepal for long time and settled in Germany, said, &ldquo;In my college days in Nepal, learning foreign language was not so popular. But I learned the language, which helped me a lot in mingle with the local culture in Germany and my profession. I have many friends in Nepal whose children prefer to learn atleast one foreign language as per their future career plan&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Jackson Subedi, Director of Alta Vista, &nbsp;exclusive Spanish Language School in Nepal which was founded in 2006, said, &ldquo;In this fast changing global scenario language skills, and particularly the knowledge of European languages, provide a great advantage to youngsters seeking career opportunities in the ever shrinking and increasingly globalised new world order&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	It is not only the love and thrill of learning a foreign language alone that brings these youngsters at these foreign language teaching institutes. They are there because they feel that knowledge of a foreign language other than Nepali and English will give them a passport to a whole new world of opportunities and career options, where their language skills will count a lot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, Prasanna, who learned Spanish in Nepal, believes that his knowledge of the Spanish language will come in handy not just in Spain, but also in USA and Latin America &mdash; where this language is extensively used. &ldquo;The language helped in enhancing my portfolio,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, according to Jackson, the Director of Alta Vista, there are students who wants to learn the foreign language to become tourist guide, which they feel is another sector which is booming every day.</div>
<div>
	&nbsp;</div>
<div>
	But how will knowing a foreign language help them in their careers?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The focus on creating a personalised business environment has meant that even professionally qualified people feel the need to upgrade their qualifications to stay competitive in the employment race. Multinationals, IT companies and BPOs in the country not only look for people with required technical qualifications but also those with linguistic skills.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;Learning Foreign language does make a difference and candidates knowing Spanish, French or German are definitely at an advantage during recruitment. But I personally feel that in Nepal the demand for learning Spanish is higher among the Nepali students&rdquo;, says Anup Satyal, a well known Spanish language teacher in Nepal.</div>
<div>
	However, some students are opting for Germany because the their education is bit cheaper and widely spoken in Austria, part of Switzerland and in most East European countries such as Poland, the &nbsp;Czech republic, Hungary etc. But there is a significant number who also think it shall be very useful, in terms of their career even in India.</div>
<div>
	&nbsp;</div>
<div>
	There is an increasing demand for linguistically skilled people even for interpretation and translation of technical documents, transactions and e-mails. Some opt for multiple foreign languages, for wider look in other countries to get more opportunities.</div>
<div>
	&nbsp;</div>
<div>
	Another factor for Nepali students opting for multiple foreign languages the USA is no longer the only preferred destination, as several youngsters as seek employment in Europe. There are also many who seek employment in countries such as Canada (Canadian immigration authorities insist on a French language certificate), and in the once-French and German colonies of Africa, where knowledge of French and/or German is extremely beneficial.</div>
<div>
	&nbsp;</div>
<div>
	In coming years youngsters from Nepal will shine more in other countries and proved to a great workforce.</div>',
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			'description' => 'The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1610',
			'article_category_id' => '153',
			'title' => 'Growing Market For Cosmetic Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Similar to the hundreds or perhaps thousands of grocery stores around town, there are cosmetic shops set up at every nook and corner of Kathmandu. From departmental stores to local beauty parlours, there is no dearth of cosmetic products for potential customers.</div>
<div>
	&nbsp;</div>
<div>
	Cosmetics products are mainly imported from abroad. Nepal gets its cosmetics products of various brands from a number of different countries. Needless to say, like other imports, a significant share of cosmetics products available in Nepal are manufactured in India.</div>
<div>
	&nbsp;</div>
<div>
	The market for cosmetics products has been growing quite significantly over the last few years. The availability of cosmetics products has increased appreciably and the consumption ratio too has increased with each passing year. The market boasts of leading cosmetics brands from the world. The domestic market for cosmetics products has come a long way as well with top notch global brands and established names from neighbouring countries available in the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the market for cosmetics products in the country is growing at about 25-30 per cent. They attribute the rise in demand for cosmetics products to the growing middle class and awareness about personal image and hygiene, which has resulted in greater spending on beauty and personal care products. &ldquo;The market for cosmetic products in Nepal is very good. It is showing continuous growth,&rdquo; an importer said, adding that people have become fashion conscious and do not mind spending on cosmetic products. According to him, the sales of cosmetics product are good in the cities as well as small towns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Brands Galore</span></strong></div>
<div>
	The domestic market features products of around 80 cosmetics brands including international brands like Lakme, L&rsquo;Oreal, Garnier and Emami as well as Mac&rsquo;s Lavera, Nova, Chase, Astaberry, Lotus, Ayur, Ole and Aroma Magic. Products from third countries were the top sellers until a few years ago but that scenario has changed. Approximately, 80 per cent of the cosmetic products sold in Nepal currently are imported from India. Other countries that Nepal imports cosmetic products from include China, Singapore, Thailand, UAE and Europe.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Nepali people are slowly understanding the importance of beauty and personal care products,&rdquo; observed another trader. While cosmetic products used to be considered a luxury until a few years ago, they have turned into a necessity today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Demanding Customers</span></strong></div>
<div>
	Along with the growing market for cosmetic products, customer preference is changing drastically. People are demanding products as per their need in contrast to the past when customers used to simply buy products were available in the market. A lot of people are also moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in awareness due to the media has forced traders to bring in products to satiate the need of choosy and demanding customers. A leading importer remarked, &ldquo;The awareness level of customers has turned the market fiercely competitive.&rdquo; &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though women still make up more than 80 per cent of the customers, the number of male customers is growing. The entry of products designed for men in recent years has helped the market grow significantly. Men&rsquo;s products such as after shave, deodorant, perfume, hair gel and skin care items are popular among male customers.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	According to an estimate, medium range cosmetic products enjoy a market share of around 60 percent while the premium brands hold around 30 per cent share with the low-end segment garnering around 10 percent of the market.</div>
<div>
	&nbsp;</div>
<div>
	Traders are now giving special attention to all kinds of markets in the country. &ldquo;Around 60 per cent of the market for cosmetic products within the Kathmandu Valley,&rdquo; a trader said. Besides Kathmandu, consumption of cosmetics products is high in places like Pokhara, Dharan, Itahari and Butwal. The gap in sales between Kathmandu and the rest of the country is narrowing so much so that the ratio can come down to 50-50 not too far in the future.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Driving Factors</span></strong></div>
<div>
	Cosmetics are an addiction among Nepalis, commented a store supervisor at a leading cosmetics store. She said that around 10 to 12 new brands enter the market every month and still, all of them manage to survive. She attributes this to the influence of western lifestyles and persuasive television programmes and cinema that have helped to push up the sales figures of cosmetics products. Consumption of cosmetic products is high in the rural market as well with remittance playing a crucial role.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Customers living in small towns too have become more selective. People who used soaps for all purposes earlier are now shifting to products like shampoo and face wash. &ldquo;An increase in the population in semi-urban and urban market places too has helped in the growth of sales for cosmetics products,&rdquo; observed an industry insider.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A change in the mindset of people has led to increasing demand for cosmetic products among male customers. While males in urban areas started using cosmetic products quite some time ago, rural males have started to use them recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges</span></strong></div>
<div>
	The encouraging growth in sales and turnover aside, traders are not happy with the way things are. They say that inconsistency of rules and procedures at the customs had slowed the growth of the market. An importer complained that traders are forced to declare higher prices at the customs by the officials. He says that they are thus compelled to sell products at a higher price due to the high import duty.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Duplicate Products</span></strong></div>
<div>
	With the plethora of products available in the market, complaints about duplicate products are also on the rise. Cosmetics products with similar labels and packaging has become a pertinent issue for all cosmetics users. The separation of duplicate products from original ones is almost impossible without proper government regulation.</div>
<div>
	It is hard to decide on the right one due to the availability of brands that claim to be original. However, one can avoid usage of unnecessary and harmful chemicals with long-term consequences on the health of one&rsquo;s skin by taking precautions and advice from experts.</div>
<div>
	&nbsp;</div>',
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			'description' => 'There are plenty of cosmetic stores in Kathmandu and all of them seem to have their own set of customers to deal with. Cosmetics business is considered to be among the most thriving businesses in the capital.',
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		'Article' => array(
			'id' => '1564',
			'article_category_id' => '153',
			'title' => 'Convenience Stores Target Expansion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<p>
	<strong style="font-size: 12px;">--By TC Correspondent</strong></p>
<div>
	<div>
		Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Convenience stores are a successful business in western countries,&rdquo; a manager with the Chaudhary Group promoted CG Mart remarked, adding, &ldquo;We are confident that the idea is bound to pick up in Nepal too.&rdquo; The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The Shift&nbsp;</strong></div>
	<div>
		The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. &ldquo;Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,&rdquo; said an observer.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&lsquo;Single shutter&rsquo; cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree&nbsp;</strong></div>
	<div>
		The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart also plans to develop convenience stores in a franchise style. &ldquo;Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,&rdquo; said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. &ldquo;We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,&rdquo; a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company&rsquo;s strategy to expand into neighbourhood regions. &ldquo;Our aim is to reach out to as many places as possible for the convenience of our customers,&rdquo; he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players&nbsp;</strong></div>
	<div>
		CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Store Locations&nbsp;</strong></div>
	<div>
		Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. &ldquo;We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Target Market&nbsp;</strong></div>
	<div>
		&ldquo;We are mainly targeting new and affluent suburbs of Kathmandu,&rdquo; said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The &lsquo;Chain&rsquo; Effect&nbsp;</strong></div>
	<div>
		A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div>
</div>
<div>
	&nbsp;</div>',
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			'description' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.',
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			'title' => 'Dip In Mercury Raises Heater Sale',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	K<span style="font-size: 12px;">athmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm. Demand for heaters in local market has gone up significantly and traders in the niche are glad. With winter setting in early this year, it has led to greater trade than last year during the same period. An early surge in heater sales has flamed corresponding expectations of higher profit this season.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market status</strong></span></div>
<div>
	Market of winter-comforting materials like heater, blankets is always relational to the wintry spell. Since the spell started earlier this time, till February traders are expecting substantial trade of these products. Most of Nepali consumers rely on Chinese winter-warming products. Chinese products dominating Nepali market due to their affordable prices. However, internationally renowned home appliance brands like the Black &amp; Decker, Yasuda, Electron, et cetera, are also competing in the niche. These brands have introduced a series of electric and non-electric heaters in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhaskar Munankarmi, Assistant Manager at Him Electronics, authorized dealer of Samsung in Nepal, said that most heaters in Nepali market are Chinese and that consumers prefer them primarily for the affordable prices. &ldquo;We have been selling both Halogen and gas heaters of Smsungamong which the demand of gas heater is more due to expected long hours of power outage,&rdquo; Munankarmi added.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The sale of the heaters is expected to increase by 30 per cent than that of previous year till the peak of winter season,&rdquo; he said that adding that &ldquo;The prices of the heaters have also increased by 20 per cent than that of previous years due to rise in the price of foreign exchange.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Heaters in Nepali Market</strong></span></div>
<div>
	In Nepal, halogen, quartz, fan, kerosene and LPG heaters are widely preferred. Halogen, quartz and fan heaters are basically variants of electric heating devices. Halogen heaters are available in two- and three-rod types. Price of Chinese two-rod halogen heaters starts from Rs 1765, while the three-rod variant starts at around Rs 2200.</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the demand of gas heater is increasing in the market as compared to the halogen and kerosene heaters. &ldquo;As it can be operated even during load shedding hours and can heat up a room more effectively in short time, gas heaters are more popular,&rdquo; said Ishwor Dangol, proprietor of Asan based Ishwor Store. &ldquo;It is now displacing the traditional electric heater and kerosene heater,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market offers gas heaters with three burners. Once heated, the burner, made up of ceramic clay and lime, releases heat for a long time.</div>
<div>
	&nbsp;</div>
<div>
	A single heating burner with a capacity of 1.4 kilowatt can release up to 4,000 watts of heat at its full efficiency level. Dangol said a gas heater can heat a room with an area of 20-80 sqm, provided all the three burners are lighted. &ldquo;The infrared and fast heating systems fitted in the heater warms the room in a short time, thereby using less &nbsp;energy,&rdquo; said Dangol.</div>
<div>
	&nbsp;</div>
<div>
	Bikash Maharjan of Ganapati Store in Mahabauddha said a cylinder of LPG can fuel a gas heater for 90 to 100 hours with all the three burners lighted.</div>
<div>
	&nbsp;</div>
<div>
	Apart from the normal gas heater, the market also offers hybrid ones that use both LPG and electricity. Electric segment of the hybrid heater comes with three halogen rods or heating fan. &ldquo;The demand for the hybrid heater is also on the rise as it allows people to use the electric heater also,&rdquo; said Maharjan.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;A normal gas heater costs between Rs 5,500 and Rs 6,000, while the hybrid one is available for Rs 7,500 and above. A one-year warranty is also offered in the products,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Heater Brands in Nepal" src="/userfiles/images/fc1%20(Copy).jpg" style="width: 550px; height: 274px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Brands in Nepali Market&nbsp;</strong></span></div>
<div>
	Internationally acclaimed home appliance brands like Black &amp; Decker, Yasuda, and Electron, among others, are competing in Nepal heater segment market. Though Chinese heaters are widely preferred by the Nepali customers, dealers of these international brands are hopeful of a fair share of the market for their products.</div>
<div>
	&nbsp;</div>
<div>
	Anil Sethia, Managing Director of Universal Trading Centre (UTC), a subsidiary of Lucky Group, the authorised distributor of Black &amp; Decker, says, &ldquo;We brought in electric heaters five years ago and currently we are the leaders when it comes to branded heaters, as the rest of the market is dominated by Chinese products.&rdquo; While determining actual market share of their product remains difficult, he informed that they sell around 1,000 units a year.</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, Electron Appliances &mdash; an Australian brand established over 20 years ago &mdash; has been competing in the Nepali market since a decade. Amit Taparia, Manager at Electron International Private Limited, a professional household appliance company marketing the brand&rsquo;s appliances in Nepal, says, &ldquo;We have heaters in quartz, halogen, fan and gas models in the two- and three-rod segment. Capacities of our models vary from 600 to 1,200 watts. We also have a two-in-one gas cum electric heater.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	According to him, consumers are shifting away from traditional quartz to halogen and fan variants, though the latter are mainly used for office purposes. &ldquo;The sales of LPG heaters is also catching up with electric variants, as they can be used during power cut hours. This is the reason we occupy 20 per cent of the market share among branded heaters,&rdquo; says Taparia, though he argues that disclosure of price is difficult and may vary from one retailer to other.</div>
<div>
	&nbsp;</div>
<div>
	With Chinese products dominating the market, dealers in branded ones are reluctant to disclose the price and sales growth. However, they uniformly agree that the market is growing. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Anil Goenka, Operation Manager of Triveni Byapar Company Limited, authorised distributor of Yasuda, says, &ldquo;Yasuda, an affordable brand introduced in Nepal just three years ago, is witnessing an average growth of 30 per cent every year. Targeting the middle class segment, we provide six models of halogen heaters. Five of our models belong to three-rod segment while one has two rods.&rdquo; Like Taparia, Goyenka also finds it difficult to reveal prices and annual sales of company products. He claimed that the brand enjoys 15 per cent of the market share among branded heaters. Goenka adds, &ldquo;Remote control feature and smooth rotation adds to the good looks that our products flaunt, making us the preferred choice among prospective buyers.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospects of the Market</strong></span></div>
<div>
	Traders opine that the market of heater in Nepal is flourishing. Especially in Kathmandu where the climate tempts people to buy heater to avoid chilling winter cold. As a warm home in winter makes everything better, heater-traders expected equally&nbsp;<span style="font-size: 12px;">heated sales.&nbsp;</span></div>',
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			'description' => 'Kathmandu is under the chilly spell of Northern winds and people have started shopping for appliances to keep warm.   Demand for heaters in local market has gone up significantly and traders in the niche are glad.',
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			'id' => '2122',
			'article_category_id' => '153',
			'title' => 'Glittering And Glowing Jewellery Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Suraksha Adhikari&nbsp;</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items. &ldquo;These days people prefer unique and light weight jewellery over heavy and classic designs,&rdquo; said Mani Ratna Shakya, President of Federation of Nepal Gold and Silver Dealers&rsquo; Association (FENEGOSIDA).</span></div>
<div>
	&nbsp;</div>
<div>
	Once a symbol of prestige and prosperity, the charm of jewellery has not decreased yet but it has been an integral part of our society. Though the trend of jewellery has changed, it still denotes affluence of a family. Shakya said, &ldquo;The trend of placing orders has almost vanished as people now go for readymade products in the market.&rdquo; For Nepalis, jewellery is a tradition. The way people flaunt jewellery has changed over the period, but the charm hasn&rsquo;t changed and will never change, he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The shift in consumer preferences is evident with the fact that the number of branded and designer jewellery stores in the Kathmandu valley has increased many folds over the last two-three years, changing the way Nepalis shop for jewelries.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	&ldquo;The leading metal in Nepali society, gold covers 75 per cent of the Nepal market because of its traditional and religious importance,&rdquo; said Tej Ratna Shakya, Former-President of FENEGOSIDA. Small amount of gold can be expanded to form large jewelleries and gold is an essential part in Hindu society during rituals ranging from birth and death of a person because of which the importance of gold has not decreased in our society. &nbsp;&ldquo;Though the sales volume of jewellery has come down because of the high price, the increase in the price of the yellow metal with various designs during the festival season has compensated the loss,&rdquo; he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market demands estimated 35-40 kg gold per day but the government ceiling of importing only 15 kg per day has hindered in meeting the demand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;The annual revenue from the jewellery to Nepali government reaches around Rs 3 billion excluding the insurance and other additional income.&rdquo; He added, &ldquo;Around 5,400 kg of gold is imported and one kg of gold yields Rs 5,20,000 revenue. The revenue from gold four years ago was Rs 70 million with a rate of Rs 13, 000 per kg.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;After gold, silver occupies second position in Nepali market covering 25 percent of total jewellery.&rdquo; Shakya said. He added, &ldquo;Diamond market has been gradually increasing in Nepal showing higher opportunities to the traders.&rdquo; &nbsp;Before 4-5 years the sale of diamond was not even 10 per cent of total jewellery trade, but now a days people prefer diamond jewelries to heavy and classic gold jewellery. Shakya explained, &ldquo;Some years ago, diamond was only bought by upper higher class people but the trend of middle class people wearing diamond rather than yellow metal has made a significant improvement in recent years.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 12px;">The growing market size has also prompted traders bring in branded jewellery and come up with their own brands. While Shree Riddhi Sidhi has launched two brands Ashwarya and Akabari, other prominent stores like Gem House has introduced Swarna and Arsi brand jewelleries.</span></div>
<div>
	&nbsp;</div>
<div>
	The annual growth of the jewellery market is around 15-20 per cent at present but this growth is limited only up to this as the government has not revised its provision to import only 15 kg of gold per day while the demand of the gold is much more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Import-Export&nbsp;</strong></span></div>
<div>
	According to Tej Ratna Shakya, the government has permitted to import 15 kg gold on daily basis in Nepal. &ldquo;The raw material for gold is imported up to that ceiling but readymade jewelries are imported less in comparison to the raw material as the ready-made jewelleries have to pay 10 per cent custom duty,&rdquo; Shakya added. Only some of the big companies import the ready-made sets despite heavy custom charges, he said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Talking about the export, Shakya said that though the jewellery market has not been able to make remarkable change, it nonetheless is slowly spreading its outreach. Some of the jewellery companies have opened their outlets in foreign countries. &ldquo;RB Diamond has opened its outlet in United States whereas Baraha Jewellery has its outlet in London and some have their outlet in Australia and so on,&rdquo; he further added.</div>
<div>
	&nbsp;</div>
<div>
	Apart from gold and silver, there is also high demand for Nepalis&rsquo; handcrafted jewelleries in the international market. &ldquo;Most of the gems in Nepal are used for silver jewelleries that are exported to Europe and America,&rdquo; said the traders. The handcrafted jewelries are very famous and liked by the Europeans and Americans. They are exported in different designs like earrings, rings, necklaces, pendants, bracelets, brooch, bangles and different articles embedded with precious stones.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Diamond is the most important precious stone in terms of value that generates a larger volume of revenue and business internationally,&rdquo; said Mahesh Man Shrestha, owner of Gahana Griha. Even in Nepal, diamond jewellery is more popular and in demand than other gemstones, added Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Jewellery certification</strong></span></div>
<div>
	Jewellery certification plays a vital role in the business. There are labs all over the world that identify and grade gemstones, however, it&rsquo;s not an established trend in Nepal yet. Shakya said, &ldquo;Since the jewelleries of Nepal are not exported to international market, the certification has not been an issue till now.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	But the trend is being established slowly. He added, &ldquo;RB Diamond Jewelers is taking an initiative to change this by introducing GIA (Gemological Institute of America) Certification for gems and jewelries in the near future.&rdquo; These certificates are internationally recognized and honoured and known for grading precision, technology, research and other important factors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Prospect of the market</strong></span></div>
<div>
	The jewellery market of Nepal is providing employment opportunities to around 50,000- 60,000 people at present. Nepal&rsquo;s jewellery market has a very bright future prospect. &ldquo;The growth in the market can be noticed through the rise in the number of gold stores,&rdquo; said Shakya adding that the profit margin of individual stores might have fluctuated, but the overall market is growing. The penetration of Nepali jewellery in Europe can develop the market in broader way with greater exposure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	There are many issues related to the jewellery market. Foremost is the lack of proper policies and regulations related to the production and other issues related to the market. Mani Ratna Shakya said, &ldquo;The government inspects and charges our shops without any proper policies and we are still unaware about the framework of our working area as government has not prepared any regulations.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Traders say the unavailability of raw material, lack of awareness among sellers and buyers, security risk and lack of skilled manpower have hindered the industry&rsquo;s growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shakya said, &ldquo;We can easily get a million dollar order from the US at present. Several American importers are interested in Nepali jewellery but we have not been able to export. Once we have the same export provisions as in India, the export of our jewellery will increase significantly. Therefore, the government should ease the export of jewellery.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Over 80 percent of the skilled manpower working in Nepal come from India and other countries. &ldquo;We are not being able to generate skilled manpower within the country and this might cause a huge problem in the days to come,&rdquo; said Shakya adding that this can degrade the quality of the jewelleries.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/jewellry%20(Copy).jpg" style="margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
			'modified' => '2013-11-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 domestic jewellery market has come a long way. Customer preferences are gradually shifting towards designer and branded jewellery rather than the classic designs that require more amount of gold. Classic jewellery designs were the market leaders until a few years back but these days people are seen more interested towards modern, semi-modern and antique items.',
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	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2046',
			'article_category_id' => '153',
			'title' => 'Two-wheelers Getting More Riders',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the arrival of the main festivals in Nepal, the mob of people is seen around the motorcycle showrooms to grab the offers and schemes provided by various companies on the occasion of festivals. Adhir Kumar Shrestha, Assistant Managing Director of V.G. Automobiles Pvt. Ltd said that the sale of motorcycles has increased to double following the offers. This company has already sold around 1,200 units of motorcycles in short span of being authorized dealer of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Shekhar Golchha, President of the Nepal Automobile Dealers&rsquo; Association (NADA) said that the size of the market increases during the festival season because of the trend of buying new things during the special occasions. He said, &ldquo;Around 20 to 50 per cent of total sale of two wheelers on Nepal is during Dashain.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	He added, &ldquo;The first choice of people after having some amount of money is automobile and Dashain is the most suitable occasion for the people to buy new things in the family.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The road widening drive in Kathmandu and other cities in the country started some time ago. However, most roads still await completion. &ldquo;Having wide roads will definitely have a positive impact on the industry,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status</strong></span></div>
<div>
	After the continuous dropdown of the two wheelers market for more than two years, the market has again picked up the pace. As per the data of Department of Transport Management the import of two-wheelers rose 22 percent in the first nine months of the fiscal year compared to the same period last year.</div>
<div>
	&nbsp;</div>
<div>
	Analyzing the data of past one decade, the motorcycle segment has witnessed a very impressive growth. The number of two-wheelers has grown from 26,547 in fiscal 2003-04 to 175,381 in fiscal 2012-13.</div>
<div>
	&nbsp;</div>
<div>
	One of the largest players in the two-wheeler scene in the country, HH Bajaj, reported that they had witnessed a growth in sales of more than 40 percent. The company has so far sold around 30,000 units of two-wheelers. Shekhar Golchha, executive director of HH Bajaj, said that the reason behind the increase in sales was the bounce-back effect afterv a huge fall.</div>
<div>
	&nbsp;</div>
<div>
	The enormous growth the two-wheeler segment has been witnessing annually has been spreading to areas outside the capital city. While the market for two-wheelers has come to a saturation point in the Kathmandu valley, sales outside the valley have seen a massive growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Factors in Increasing Sales</strong></span></div>
<div>
	The easy availability of auto loans at a lower interest rate compared to the past few years has contributed to the growth in auto sales. Currently, finance companies are offering auto loans in the range of 9.5 to 12 percent interest. &ldquo;As two-wheelers are the means of transportation of the general people, easy availability of finance has played a positive role in the increment in sales,&rdquo; Golchha said. Meanwhile the sales of two-wheelers had increased as public transportation isn&rsquo;t reliable in the country. Launching of schemes by motorcycle dealers round the year and new model rollouts too have aided growth.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Problems and Challenges</strong></span></div>
<div>
	Traders say that the license distribution system of Transportation Management Department is capital centric which has been creating problem to the license holder outside the valley. This has been degrading the sale as the facility of trial for two wheelers is only in Pokhara and Kathmandu after the upgrade of license distribution system.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector.&nbsp;</div>',
			'published' => true,
			'created' => '2013-10-28',
			'modified' => '2013-11-11',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In a country like Nepal where a proficient transportation service seems to be a far-fetched dream, two-wheelers have become the easiest and cheapest way to get around. Motorcycles have become the choice for the people working during odd hours to move around in the busiest roads of capital or the bumpy roads in the countryside or say the narrow roads where the four wheelers cannot easily pass by.',
			'sortorder' => '1938',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '1992',
			'article_category_id' => '153',
			'title' => 'A Click Here And A Market There: The Growing Camera Business',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Everyone has memories &mdash; bitter or sweet. With time memories tend to fade, but if you want your memories to sweeten as they age then thank technology &mdash; the camera is at your service.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that because of the festive season, the sale of cameras - be it digital or SLR have been increasing. The camera is being recognized as a necessary gadget in today&rsquo;s context. Its significance has increased much in festivals. People prefer cameras to capture moments of joy and during festivals and other occasions.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Growing Trend</strong></span></div>
<div>
	There are a variety of cameras in the market including digital cameras and high resolution single lens SLRs. Digital cameras are preferred by people as it is easy to carry and easier to handle. Similarly, DSLR cameras are used by people for better quality pictures or to cover wider shots.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the advantages of the digital camera is that there is no limitation in the number of pictures that can be taken. Along with this, the pictures captured can also be transferred to computers and can be developed according to the wish and feasibility of the people. People prefer digital cameras to analog cameras as they cannot capture the picture more than the number set in the photographic film. Traders say that the increasing trend of these digital cameras have an effect on the sale of branded cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The growing market of digital cameras clearly shows the growing interest of people towards it. Traders opine that digital cameras have a lot of opportunities in the Nepali market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Camera" src="/userfiles/images/FOCUS1.jpg" style="width: 550px; height: 347px; margin-left: 15px; margin-right: 15px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Brands Available in the Nepali Market</strong></span></div>
<div>
	With a large variety of cameras in the Nepali market, some famous brands available in the market are Canon, Sony, Samsung, Philips, Panasonic, Nikon and others. &nbsp;All authorized dealers of these cameras in the Nepali market have introduced new model cameras during the festive season with a series of offers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The market is full of stores that deal in digital cameras of different brands. &nbsp;Stores in New road like Galaxy Photo, Royal Traders, New Amber Impex, Digital Camera Spot and more deal popular brands like Nikon, Canon, Sony, Samsung, Fuji, Olympus, Panasonic and Kodak for compact digital cameras with one year warranty. These stores also sell professional Digital Single Lens Reflex Camera (DSLR) of all brands mentioned.</div>
<div>
	&nbsp;</div>
<div>
	Primex International - Canon&rsquo;s authorised dealer in Nepal; Him Electronics - authorized dealer of Samsung in Nepal; and NepaHima Trade link - authorized dealer of Sony have introduced a new model of respective cameras on the occasion of Dashain and Tihar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	New Amber Impex also has camera accessories of brand UBCX such as camera bags, tripod, camera case, filter and more as per the requirement of the customers. About the cameras found in Galaxy Photo Mukesh KC, a staff at New Amber Impex informs, &ldquo;The products are from Singapore whereas the brands are Japanese.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Most products at these stores are from local authorised dealers where Purushottam Thapa, staff at Royal Traders shares, &ldquo;The brands are all Japanese and the cameras are assembled in China.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	There are various kinds of digital cameras available in these stores in Kathmandu where the customers can opt for simple portable compact digital cameras as well as professional DSLRs. According to Sunil Goel, staff at New Amber Impex the brand Sony also has water proof compact digital camera.</div>
<div>
	&nbsp;</div>
<div>
	There are various series where the function and system varies accordingly and he adds, &ldquo;In the compact digital camera of Sony WX50, you can get a panorama function for a wider view and a 3D movie function as well. Likewise, in compact digital cameras of Cannon IXY420F, you will get high mega pixels, full HD, Image Stabiliser with Wifi and a touchscreen.&rdquo; Shopkeepers say that while purchasing a camera one must look into the print order that compact digital cameras offer rather than high megapixels. The quality of print depends upon the print order where Sony has A3 size print order, Cannon has A2 and Samsung has A1.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In portable digital cameras, you can get colours as per your wish ranging from silver, black, pink, blue and more. &ldquo;The camera must have cases or bags. And while handling a compact digital camera, it would be better if you use the strap of the camera while using it,&rdquo;says KC from New Amber Impex.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Market Status in Nepal</strong></span></div>
<div>
	The customers are interested in digital cameras as they can get a high resolution camera in relatively cheaper prices. At a minimum price of Rs 7000, people can get cameras with a focus of 8 megapixels.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The traders say that in comparison to the brands of other countries, customers prefer the brands of Japan and Korea. Digital camera of Sony from japan is popular in Nepal. Dinesh Agrawal, Sales Manager of Primex International says that this brand is more popular in the Nepali market as it has various new features in comparison to other old model cameras.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly the price of the digital camera is also decreasing because of high competition between various brands of cameras. These cameras attract customers because of their portability, easy handling features and various features with&nbsp;</div>
<div>
	high quality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges</strong></span></div>
<div>
	Encouraging growth in sales aside, traders are experiencing various hurdles in this business. Though the competition is very high, traders claim that quality maintenance is not fair in the market. With the plethora of products available in the market, complaints about duplicate products are also on the rise. The growth of unhealthy competition and duplicate products that degrade market credibility is one of the few negative aspects in this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Photo Shop" src="/userfiles/images/FOC.jpg" style="width: 575px; height: 207px; margin-left: 15px; margin-right: 15px;" /></div>',
			'published' => true,
			'created' => '2013-10-21',
			'modified' => '2013-10-28',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the cheer of the festive season, the market is crowded with people busy in buying goods for the festival. People, unlike in former festivals are interested towards technology. The importance of technology as connective devices in festivals and other occasions have allured people in many ways. Similarly, people are also attracted with the series of discount offered during the festival.',
			'sortorder' => '1880',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1951',
			'article_category_id' => '153',
			'title' => 'Opinion: ‘Possibilities Of The Commodity Market In Nepal’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size:14px;">The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;The possibilities of Commodity Market in Nepal&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. Experts from the commodity market presented their opinion on the current status of this sector. <strong>Excerpts:</strong></span><br />
	<br />
	<img alt="Paristha Nath Poudyal ,Director, Securities Board of Nepal (SEBON)" src="/userfiles/images/pnp.jpg" style="width: 150px; height: 188px;" /></p>
<p>
	<strong>Paristha Nath Poudyal<br />
	Director, Securities Board of Nepal (SEBON)</strong><br />
	<br />
	&bull; The budget of 2070/71 has fixed that the regulation of the commodity market will be done by the Securities Board of Nepal (SEBON). For implementing this decision we have received a working procedure from the Ministry of Finance. We have been directed to submit an ordinance or some legal works to the ministry by mid November.<br />
	&bull; We have already completed two levels of discussion for this. We are improving the market first and then regulating it.<br />
	&bull; We have been studying the regulatory process of various countries like India, Singapore, Hong Kong, United Kingdom and others. We will develop the regulation process according to the context of our country by discussing with stakeholders and studying all other countries&rsquo; regulations.<br />
	&bull; The regulatory body is just a facilitator and we will work accordingly.<br />
	&bull; Rather than the board, the issues related to regulations should be a matter of concern to the government and it should not delay the task.<br />
	&bull; Training for investors is essential. This year we have planned to establish the &lsquo;Capital Market Research and Training Institute&rsquo;. This effort is meant for developing the skills of investors.</p>
<p>
	<br />
	<br />
	<img alt="Dipendra Khatiwada" src="/userfiles/images/dk.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Dipendra Khatiwada<br />
	Managing Director, Mercantile Exchange Nepal (MEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The major necessity of today&rsquo;s market is regulation. We have been requesting the government for the formation of regulations from a long time. Regulations develop assurance and build trust among the public.<br />
	&bull;&nbsp;&nbsp; &nbsp;Regulations are not complete in themselves. They should be formed in such a way that they can support exchange companies as well as develop credibility among people.<br />
	&bull;&nbsp;&nbsp; &nbsp;Gold imported to Nepal is not of high quality. Though the gold is said to be of triple line, we should examine whether they are really of that standard. Such checks develop credibility in customers but Nepal does not have such facilities.<br />
	&bull;&nbsp;&nbsp; &nbsp;We do not have the mechanism to verify the quality of goods. If those mechanisms are in places, we can import any goods. Laws should be practical and only goods that can be verified should be imported.<br />
	&bull;&nbsp;&nbsp; &nbsp;There is no investment friendly environment in this market. The willpower of investors has decreased. So the establishment of a warehouse in Nepal is not possible for at least 5 years. Only the regulatory body can bridge the gap.<br />
	&bull;&nbsp;&nbsp; &nbsp;Other financial instruments can be promoted in this condition. Commodity is itself a financial instrument. Hazing platform, price discovery and price dissemination can be developed in the form of financial instruments.<br />
	&bull;&nbsp;&nbsp; &nbsp;Without the will power of the government, people from the outside the government cannot do anything. The government is unable to decide on the issue of formation of regulation for the commodity market which has created problems.<br />
	&bull;&nbsp;&nbsp; &nbsp;We are dealing with exchanges only in our market. Supply and distribution is not possible in such a situation. In international practice too it is seen that in the exchange process, 5 per cent win and 95 percent lose. This reality should be realized by investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;There are frequent transactions happening in the market. Though the quantity has decreased, the quality of transactions has increased and increase in quality is more essential than quantitative increment.</p>
<p>
	<br />
	<br />
	<img alt="Ram Sharan Upreti" src="/userfiles/images/rsu.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Ram Sharan Upreti<br />
	General Manager, Everest Commodities Limited</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;The problems of the commodity market have been divided into three parts. The foremost problem is the failure of the government to formulate policies; secondly, there is no uniformity in the working policy of commodity exchange companies; and thirdly, the investors are not properly educated about this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Concerned stakeholders have been discussing issues of the commodity market from the very beginning and stakeholders have been raising their voice regarding this issue. But the government is not showing its concern on this matter. The commodity market has a significant position but the government has not raised any issue regarding this market at discussions of the economy of the country.<br />
	&bull;&nbsp;&nbsp; &nbsp;The failure of conducting a proper exchange operation module is also a problem in this market. There are 10 exchanges operating in the market with different trading modules.&nbsp; Presently, there are two-three types of trading module in Nepal. These modules have different trading and pricing processes which has cause confusion among customers. An appropriate module for the market has not been identified yet which has minimized scope of new opportunity for investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;Lack of proper awareness among investors on the commodity market is also a major problem in this sector. This market has been famous as a glamorous sector. Because of the same reason, the market reached its peak in a short period and did not take long to fall. The people have just understood it as an exchange market.<br />
	&bull;&nbsp;&nbsp; &nbsp;People who do not have proper knowledge come to this market and because of them, the market loses credibility.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market has been in operation for six years. But till date, real investors and organizational investors have not entered the market. Exchange companies have not been able to do something significant in the derivative mechanism.</p>
<p>
	<br />
	<img alt="Santosh Pradhan,Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/ssp.jpg" style="width: 150px; height: 188px;" /><br />
	<strong>Santosh Pradhan<br />
	Chairman, Nepal Derivative Exchange (NDEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Commodity exchange is not complete in itself. There are various factors responsible to run this market smoothly. In the context of Nepal, actual commodity exchange has not been practiced yet.<br />
	&bull;&nbsp;&nbsp; &nbsp;An appropriate commodity exchange friendly eco-system is essential for this. The laws and physical infrastructure favourable to this market should be maintained. We must be able to access agricultural products in the international market by storing it in a facilitated warehouse.<br />
	&bull;&nbsp;&nbsp; &nbsp;The government should at least bring an ordinance to maintain regulations and issue license to exchanges and brokers.<br />
	&bull;&nbsp;&nbsp; &nbsp;Exchange companies should be specialized on the basis of their operation procedure, software, human resources and other measures of standardization. Unless this is done, all exchange companies have their own term of standards and they move forward with different schemes.<br />
	&bull;&nbsp;&nbsp; &nbsp;Transaction through warehouses can be the baseline for systematic initiation in this market. In the medium level this market can be developed through big financial institutions, and stakeholders and their trade risks can be addressed through the commodity market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal can be developed as an international financial center. The trade of gold and silver can be done in Nepal in bigger investment. National as well as international investors can invest in this and manage their portfolio.<br />
	&bull;&nbsp;&nbsp; &nbsp;Nepal is not in condition to run 10 commodity exchange at present. Maximum two exchanges would be enough.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Santosh Pradhan, Chairman, Nepal Derivative Exchange (NDEX)" src="/userfiles/images/bs(1).jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Bijesh Shrestha,<br />
	President and Managing Director, Asian Derivative Exchange (ADEX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;Everything has a fixed life cycle and so does a commodity market. The commodity market was established in Nepal in 2006 AD and during 2009-2011, it attracted a lot of investors. This expanded the market by mid 2012, it became mature. Anything that experiences drastic growth in a short period of time does not last long and the same thing happened to the commodity market. The market has completed a life cycle and it has to revise itself now with some improvements in regulations and other aspects.<br />
	&bull;&nbsp;&nbsp; &nbsp;Only paper transactions are being done in the commodity market&nbsp; till date. The market grew drastically and crashed immediately because of which customers are losing trust. Trust can be regained by forming a strong base. Similarly, improvement in the capital market and the real estate market is also essential for improving this market.<br />
	&bull;&nbsp;&nbsp; &nbsp;Though there are 10 exchange companies operating in the market, the number of investors does not exceed from 50-60. This shows decrement in the number of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The regulatory body should pave the way for regulations and the exchange companies should follow it. This market should include transactions of exchange index and Nepse index to attract investors.</p>
<p>
	&nbsp;</p>
<p>
	<br />
	<img alt="Abhisek Gautam" src="/userfiles/images/ag.jpg" style="width: 150px; height: 186px;" /><br />
	<strong>Abhisek Gautam<br />
	General Manager,Commodity Futures Exchange (CFX)</strong></p>
<p>
	<br />
	&bull;&nbsp;&nbsp; &nbsp;There are more investors observing loss than earning profit in the commodity market.&nbsp; The number of customers in this market has decreased compared to the previous year. This market can observe negative effects which are created because of mismanagement of investors.<br />
	&bull;&nbsp;&nbsp; &nbsp;The commodity market lacks novelty at present. We are using the same old things just with some modification. There have been change in the marketing procedure but production and market is the same.&nbsp; The numbers of investors are decreasing because of security issues in the market.<br />
	&bull;&nbsp;&nbsp; &nbsp;The expansion and recession in the commodity market is directly proportional to the economic cycle. The market has been experiencing recession these days but it was booming some months ago. Everything has its own pace but the commodity market rose exceptionally fast and is experiencing downfall now.<br />
	&bull;&nbsp;&nbsp; &nbsp;Some national and international organizations have been boosting agriculture production, commercialization and pricing in Nepal. Those agriculture products should be included in this market but we are failing to do so as the act related to the warehouse has not been formed yet. Also not formed are shares, treasury bills and other financial instruments that would make the market more effective.</p>',
			'published' => true,
			'created' => '2013-10-07',
			'modified' => '2013-10-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of the Money Expo for 2013 is being held in the capital at the end of this month. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘The possibilities of Commodity Market in Nepal’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1809',
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			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '1902',
			'article_category_id' => '153',
			'title' => 'E-commerce Talks',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme &lsquo;Demystifying New Mode of Trade and Payments&rsquo; was conducted by New Business Age on September 19 as headway to the Expo. This interaction was dedicated to clear the existing technology that has been replaced by new technologies in the fields of trade and payments. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. <strong>Excerpts:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Biswas Dhakal" src="/userfiles/images/bs.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Biswas Dhakal</span></strong></div>
<div>
	<strong><span style="font-size:14px;">President, F1Soft International Ltd</span></strong></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Our main objective is to facilitate customers with new and easy services. Other companies also carry similar objectives to make life easier for customers through digital transactions. Every transaction should be a digital transaction, be it large banking transactions or daily life transactions. We have initiated the online transaction service with this same purpose. This brings money to the banking sector and also increases investment. Remittance, which has covered large areas in the Nepali economy, is also brought to the country through online systems. The procedure of an online system is very easy and can be used by everyone. It can be done by simply sending an SMS and people are seen to be interested towards this service. But due to various reasons, the popularity of this system has not increased yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem of the digital system is a lack of its credibility among people. But the system is totally secured from our side. We have adopted international norms for security in the system. Our first priority is to provide secured transactions and we have not received any complaints regarding security and services from our customers.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main obstacle for digital transaction in reference to the worldwide global practice is digital illiteracy. Moreover, in an education deprived country like ours, the problem is huge. So it is impossible to achieve hundred per cent digital coverage in Nepal. However, our concept is to move from developed to less developed areas. For example, 50 per cent families of Kathmandu have their representatives abroad. A major responsibility for those abroad is to send money to their family. If we can convince the people in Kathmandu towards online transaction, they can opt for a digital medium as their mode of transaction. Moreover, the family in Kathmandu can also use an online medium to send money and other materials abroad. We can then enter rural areas as well. Using personal brand ambassadors rather than our individual effort for promotion would be more effective.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>There is a misconception that few government policies have created obstacles. However, if all processes are completed, it is not that difficult to work. Everyone involved in transaction has their own process. The Nepal Rastra Bank also has its own policy. The foreign exchange department also has its own policy. We cannot exist for long in this sector if we bypass their policies. According to the policy of the Nepal Rastra Bank, a private organization cannot hold funds of customers. So, we appointed banks for the payment and provided the custody of customers&rsquo; money to them. Similarly, foreign currencies are also handled by banks. So, there are no hurdles due to rules and regulations if they are handled properly.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Samir Vajracharya" src="/userfiles/images/sv(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Samir Vajracharya</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technology Officer, Smart Choice Technology</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Smart Choice Technology (SCT) started in 2001 AD when there were hardly 4-5 ATMs and 10,000 cards. Currently, there are 15, 000 cards under the SCT network only and more than 18,000 people with access to cash. A total of 85 financial institutions are affiliated with SCT. &nbsp;We have focused on ATM transactions and Point of Sale (POS), mainly. There is a vast difference in the situation now and then. Our vision is to provide easy access to financial activities to the people and we have been successful in our mission to a large extent. This does not mean that this is the line of satisfaction as a large number of people hesitate to use ATMs still.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Nepali market is not ready for e-services, which has been the main hurdle for increment in the online market. We should be able to make people aware about the importance of online transactions so that their interest level towards this service increases.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is not being able to lead this sector which is also seen as a major problem. The government should introduce some compulsory regulations regarding online services to increase people&rsquo;s involvement in this sector. This is only due to the contribution and dedication of the private sector that online services have reached up to this level. But without support from the government, the online sector cannot sustain for long. The private sector is profit-oriented, but if the government sector takes charge then this sector can be service-oriented.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Though the issue of security is big in this sector, SCT is very much concerned about the security issue and has worked on it. Our cards are based on pin codes which are the safest medium in this sector in comparison to a signature as it can be copied.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Customers have to face problems because of problems in network but these problems are not solely from theSCT network. There are various service providers including telecom, banks and others involved with it. This is difficult to manage as network problems may arise anywhere anytime. People should be aware of this.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Poorly developed infrastructures and a lack of skilled manpower are also major obstacles in the context of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are also facing problems because of political instability and power cuts. The companies from foreign countries are interested to work with us which is a positive sign for us but these vital problems are blocking them to work with us. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Similarly, there is a lack of government policy. The central bank should provide a benchmark to other banks for e-payment. It is difficult for the private sector to work without a benchmark. We are discussing with concerned authorities to solve these issues.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<img alt="Rabin Kumar Shrestha" src="/userfiles/images/rks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" /><span style="font-size:14px;"><strong>Rabin Kumar Shrestha</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Chief Technical Officer, PayBill</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We are making maximum efforts for improvement of the online sector but we are not getting results accordingly. There are various reasons for this. Firstly, people are not aware of this system. Most people still believe that the internet is only limited to the social media. They are not aware that various transactions can also be done through the internet. These people can be attracted to this sector if they are made aware.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The issue of security is also a major concern but this system is very much secured. Customers should send two smses to transact from PEBIL. After the first sms, we send an alpha code to the customer and after that the customer must send both the alpha code and pin through sms. Only after this will they will be able to transact. So, this way our system is secured but people are still not convinced.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Subas Dhungana" src="/userfiles/images/sd.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 244px;" />Subash Dhungana</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>Executive, iPay</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>iPay is an online payment system. We have been operating Muncha.com since 2002. Our services were limited to gift packages for long though we were not satisfied with the results. But some positive signs are emerging now based on which we are expanding our services. &nbsp;We have moved towards bringing remittance and media sites for downloading files along with online shopping. We have made agreements with seven banks for this purpose recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main reason behind the failure of e-commerce sites is the failure of payment to customers. For online payment, there are e-sewa, PayBill, SCT, credit card and our own production iPay which are associated with seven banks. But if the customer is asked to pay online, then s/he makes various excuses as they are not aware of these services. So cards of Nepali banks should get international validity for easy access to online payment. Around 20-25 people register in Muncha.com but at the end, they have problems with the payment system. Therefore, an easy way for payment should be initiated with support from the government or the central bank. Though these issues are discussed, we are lacking behind in implementation. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>We have not faced any problem regarding security, nor have we received any complaints. We are practicing international norms of security in our system. We can&rsquo;t say that the online medium is hundred percent secured but problems have not occurred yet.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Political instability is also main problem for this sector. The number of internet users has increased, but political stability is must for the sector&rsquo;s rapid growth. Political stability brings employment, and it is when people are engaged and busy that they start engaging in online activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		&nbsp;</p>
</div>
<div>
	<span style="font-size:14px;"><strong><img alt="Bal K. Joshi" src="/userfiles/images/bkj.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 243px;" />Bal K. Joshi</strong></span></div>
<div>
	<span style="font-size:14px;"><strong>President, MACHNET</strong></span></div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal has immense potential for e-commerce. Though there is not much expansion in this sector, the condition has not worsened. There are a lot of websites conducting e-commerce and their businesses have increased through the medium. The expansion of the market for e-commerce depends upon target customers and identifying their needs.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The main problem at present is not being able to invite international transactions to our country. PayPal is popular for this at national and international levels. But there are some procedural problems in the use of PayPal digital transaction in Nepal. The customers have to pay an extra fee to send the money. For example, if a person has to send 2000 dollars then s/he will have to pay around 2500 dollars. So, there is no prospect for using PayPal to expand the digital transaction market in Nepal. We are introducing a new platform related to money transfer for the first time in Nepal to make it easier for Nepali customers to transfer money from abroad.&nbsp;</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-30',
			'modified' => '2013-10-08',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in capital in the end of October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal. An interaction programme ‘Demystifying New Mode of Trade and Payments’ was conducted by New Business Age on September 19 as headway to the Expo.',
			'sortorder' => '1763',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '1862',
			'article_category_id' => '153',
			'title' => 'Third Money Expo 2013',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Third &lsquo;Money Expo 2013&rsquo; is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.&nbsp; Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation. The expo will host stalls of bank and financial organizations, capital market and&nbsp; insurance companies among others.&nbsp; Various regulatory bodies will also be participating in the event. There will be 125 stalls in total and different conferences related to share markets, investment in infrastructures, mutual&nbsp; funds, private public partnership, microfinance and use of new technology in commodities and financial markets will be held.&nbsp;</p>
<p>
	Organizers have informed that entrepreneurs from India, Europe and Middle East Asia will be participating as well. &ldquo;The government aims to uplift the country to the status of a developing country by 2020 AD. High levels of investment from private and public sectors are necessary for this and the expo aims to be a platform for the investors&rdquo;, say the organizers. The Money Expo will host discussions on various issues such as investment of remittance in productive areas, making investments project focused, and the demands of the comparatively liberal policy to invite foreign direct investment in infrastructure development.&rdquo;</p>
<p>
	&nbsp;</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'Third ‘Money Expo 2013’ is being organized jointly by Aarthik Abhiyan Daily and Jamb Technologies from October 31st to November 2 at Bhrikutimandap, Kathmandu. The expo first was held in 2011 AD in order to promote investment and take the financial sector of the country to greater heights.  Organizers say that this expo will be the biggest platform for investment and financial transactions in the nation',
			'sortorder' => '1723',
			'image' => '1379935089.jpg',
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '1861',
			'article_category_id' => '153',
			'title' => 'Problems And Challenges Of BFIs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme &lsquo;BFIs: Problems and Challenges&rsquo; was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:</p>
<p>
	<br />
	<strong>&lsquo;Financial Sector is Completely Secured&rsquo;</strong></p>
<p>
	<strong><img alt="bhaskar" src="/userfiles/images/Bhaskar.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 177px; " /></strong></p>
<p>
	<strong>Bhaskar Mani Gnawali</strong></p>
<p>
	<strong>Spokesperson, Nepal Rastra Bank</strong></p>
<p>
	&bull;&nbsp;&nbsp; There was an influx of financial institutions after the implementation of the Liberal License Policy which created unhealthy competition between the institutions. This resulted in maximum investment in the real estate sector, and thereby created problems in the financial sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; After that, the central bank decided to control loans in the real estate sector and a deposit insurance policy was also introduced. There is now a system of deposit insurance up to Rs 200,000 for all&nbsp; deposits of natural persons, so that there is no fear to deposit money in any bank and financial institution.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Influx of banks and financial institutions with the Liberal License Policy brought problems in the financial system. To control these problems, the central bank came up with a merger policy which has been successful thus far. We have brought this policy for the qualitative development of financial institutions and their sustainability. The merger is not a compulsion &ndash; it is a demand of the times.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The merger policy has not only increased the investment capacity of financial institutions but also performed as the check and balance mechanism. It has also discouraged financial crime.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There are altogether 175 financial institutions, including all types and classes of banks. This is still an excess number in the context of Nepal.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Rural access is increasing with the help of microfinance companies. Until now, 35 microfinance institutions have been permitted to operate and there are more coming in.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Medium level development banks have also helped a lot to raise the rural economy and alleviate poverty in Nepal. Model banking can be the best example for development in the country.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Total deposit in the financial system of Nepal amounts to Rs 1300 billion. Out of this, only about Rs 700 billion has been invested in real estate. This shows that investment in real estate won&rsquo;t be affecting the banking system of Nepal in the upcoming days.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Bank and financial institutions have to invest at least 12 per cent in the agriculture and hydro sectors. We have also planned to invest 20 per cent in the productive sector.<br />
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Failure to implement&nbsp; Secured Transaction Act as a Problem</strong></p>
<p>
	<br />
	<br />
	<strong><img alt="rajan" src="/userfiles/images/rajan(3).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajan Singh Bhandari</strong></p>
<p>
	<strong>President, Nepal Bankers&rsquo; Association</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the Secured Transaction Act is promulgated, it has not been implemented till date. This is seen as a problem.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The task of registering collaterals should be given to the credit Information Bureau. This reduces the possibility of double investment in working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Lately, because of unhealthy competition among some banks, there have been possibilities of double exposure in a single borrower through working capital financing.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The capital fund of banks is very strong. So, investment in real estate is a small amount. This will no longer create long term problems in the banking sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though there are a lot of opportunities, there is no favourable environment for investment. Deposits and loan investment have doubled in four years but there is no change in the growth rate of the banking sector which is still around 4 per cent.</p>
<p align="left">
	&bull;&nbsp;&nbsp; There is no technical risk in the banking sector. They are expanding technical services and facilities which have benefited this sector.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Banks are capable of securing themselves from probable operational risks. The check and balance system of the banking sector is effective.</p>
<p align="left">
	<br />
	&nbsp;</p>
<p align="left">
	<strong>Need Classification of Development Banks</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="krishna" src="/userfiles/images/krishna.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Krishna Raj Lamichhane</strong></p>
<p>
	<strong>President,<br />
	Development Bankers Association, Nepal</strong></p>
<p>
	&nbsp;</p>
<p align="left">
	&bull;&nbsp;&nbsp; The main problem of development banks is its classification. There are some such banks with higher amount of paid-up capital as well as small paid-up capital. So, the issues of these banks are different. The small development banks have competition with cooperatives whereas big ones have competition with commercial banks. Thus, classification has been a major issue of development banks.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The central bank has been providing various facilities to development banks expanding branches in rural areas, but not to those which have the main office in rural areas. In fact, those banks with head office in rural areas need support and assistance. They are working with low capital and in spite of lack of skilled man power. The government should help them in risk minimization.</p>
<p align="left">
	&bull;&nbsp;&nbsp; People in rural areas are less aware about banking habits compared to urban people. Along with this, lack of skilled man power, weak collateral, lack of security and infrastructure have increased risk of banking in those areas.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Though the number of development banks have decreased to 86 from 88, their branches have increased to 77 which is a remarkable number.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The working area of financial institutions should be divided during the classification of banks.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>&lsquo;We are not able to regain&nbsp;the trust of customers&rsquo;</strong></p>
<p>
	&nbsp;</p>
<p>
	<strong><img alt="rajan" src="/userfiles/images/rajan(4).jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 178px; " /></strong></p>
<p>
	<strong>Rajendra Man Shakya</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Finance Companies Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Finance companies are diminishing rapidly and have reached 55 from a total of 88. We simplified the procedures of financial transaction for easy access among common people and high return in the financial system, but the misuse of these systems by some of our finance company holders and operators created problems. Besides this exception, the condition of finance companies is not that bad but we are still not being able to regain the trust of people.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The largest share of investment of finance companies is in real estate. More problems were created after the Nepal Rastra Bank introduced Dynamic Provisioning.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Investment stuck in real estate has not been recovered because of high investment and lack of new sectors for investment. Interest rate is high because of high investment.</p>
<p align="left">
	&bull;&nbsp;&nbsp; &lsquo;C&rsquo; class companies are facing problems as the regulatory body has included all financial companies under the same umbrella.There are some issues which only &lsquo;C&rsquo; class companies are facing, and which should be addressed by separate regulations.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Loan recovery is also seen as a problem these days. Most finance companies invest large amounts of money on land, houses and businesses knowingly or unknowingly. Loans taken in the name of business and commerce is also being used for investing on land and houses.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We have no right of prompt decisions as commercial banks. They can increase or decrease the interest rate according to their convenience but we are not allowed a make difference on loan amount. So, customers who don&rsquo;t have access to commercial and other banks come to us. But the problem of investment is interest rate. The depositors seek higher interest rate because of high risk, and so finance companies have to collect deposits by providing high interest than that of commercial banks. Therefore, we should be giving priority to invest in sectors where the return of investment is secure.</p>
<p align="left">
	&nbsp;</p>
<p align="left">
	<strong>Problems in Expanding Microfinance Services</strong></p>
<p>
	<br />
	<strong><img alt="dharma" src="/userfiles/images/dharma.jpg" style="border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; width: 150px; height: 180px; " /></strong></p>
<p>
	<strong>Dharma Raj Pandey</strong></p>
<p>
	<strong>Chairman,<br />
	Nepal Microfinance Bankers Association</strong></p>
<p>
	&nbsp;</p>
<p>
	&bull;&nbsp;&nbsp; Micro finance basically deals with poverty alleviation, providing loans without collateral in rural areas, collecting small savings and providing micro insurance services. So, it has high cost and cost reduction has been a major challenge.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Expanding services in rural areas is our responsibility. But we are facing difficulty in expansion because of limited capital and high cost. Access to rural areas, management of skilled manpower and information system has also been major problems for us.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Microfinance has to be better understood. They conduct programmes for poverty alleviation which is unlike conventional financial institutions. Beyond loans and deposits, we also focus on other activities like generating skilled manpower, helping them to make plans. We inspect during implementation of the business plan or help in accessing people and their products in the market. It heightens our cost and risk so the central bank has to support us further through monetary policy.</p>
<p align="left">
	&bull;&nbsp;&nbsp; We are not able to expand our services throughout the country. There are still 10 or 11 districts where micro finance services are not available. Within three to five years, we aim to reach each and every district of the country.&nbsp; For this, the government has to support us in organizational development.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The government has not been able to make proper evaluation of the financial services that support sustainable development objectives. Services helping the rural people access finances should be acknowledged by the government.</p>
<p align="left">
	&bull;&nbsp;&nbsp; The size of loan is increasing these days which has increased the risk. We have been planning to formulate self regulation.</p>
<p align="left">
	&bull;&nbsp;&nbsp; Like any other organizations, microfinance also needs some profit as it has to satisfy its customers with return of investment, risk bearing and expansion of its services. Therefore, the interest rate is high and we are trying our level best to reduce it.</p>
<p align="left">
	&bull; Another challenge of this sector is lack of skilled manpower and poor information technology system.</p>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-23',
			'modified' => '2013-09-23',
			'keywords' => 'Focus cover story news & articles, cover story news & articles from Focus, cover story headlines from nepal,  Focus current and latest cover story news from nepal, Focus economic news from nepal, nepali cover story Focus economic news and events,  ongoing  cover story news of Nepal',
			'description' => 'The third edition of Money Expo for 2013 is being held in the capital from October. Aiming to promote investment opportunities and wealth protection strategies, this expo is the largest finance and investment show in Nepal 31 till November 2. An interaction programme ‘BFIs: Problems and Challenges’ was conducted by New Business Age on September 19 as pack up the reen up to the Expo. Experts from banks and financial institutions presented their opinion on the current status of the financial sector. Excerpts:',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1822',
			'article_category_id' => '153',
			'title' => 'Nepal Emerging As A Global Auto Hub',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	With the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Focusing on the booming automobile market that had been on a downward spiral for the past three years, Nepal Automobile Dealers Association (NADA) in association with the Global Exposition and Management Services (GEMS), an event organizing company, organized the &lsquo;NADA Auto Show 2013&rsquo; to promote Nepal as a good market for automobile business.</div>
<div>
	&nbsp;</div>
<div>
	The auto show, which concluded last week, showcased the passenger car, two and four- wheelers, tyres and tubes, components and sub-assembly accessories, off-road vehicles, tractors and farm equipment batteries, environment and safety equipments, &nbsp;air-conditioning, trucks and bus lubricants, auto finance, auto insurance, garage equipment and auto paints.</div>
<div>
	&nbsp;</div>
<div>
	A total of 69 exhibitors, including local as well as international brands, displayed their products and services in 100 stalls. Automobile companies from Nepal, India, China, Korea, Japan, USA, Germany and Czech Republic, among others participated in the event. The auto show this year had different sections for two-wheelers, four-wheelers and commercial vehicles to cater to the need of segmented as well as general visitors.</div>
<div>
	&nbsp;</div>
<div>
	Inaugurating the Auto Show 2013, Finance Minister Shanker Prasad Koirala said the fair could help boost the transportation sector, which is considered an essential component for improving an economy. &ldquo;The government is considering revising the customs duty on the vehicle imports following the commitment at SAFTA and World Trade Organization,&rdquo; Koirala added. He said that in spite of a lot of possibilities in the automobile industry in Nepal, this sector has not improved as expected and government is ready to support this sector.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Visitors are seen as attracted by hatchbacks as compared to any other segment of four-wheelers,&rdquo; said Shekhar Golchha, President of NADA. &ldquo;The small car segment appeals to many as it is easier to navigate through the narrow and crowded traffic of Kathmandu, not to mention to cope with the dearth of parking space,&rdquo; he added. Golchha emphasized on the preference of small cars because of jerky roads all over the valley. &ldquo;These small cars are ideal to drive in the bumpy roads of Kathmandu valley and for those who are buying a car for the first time. New brands of cars are preferred by those who change their cars frequently but the demand of small cars is higher.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 269px;" />The Current Market&nbsp;</strong></span></div>
<div>
	According to Gopi Krishna Neupane, General Secretary of NADA, the market of automobiles has increased significantly than in the previous fiscal year. &ldquo;We have almost all international brands in our Nepali market including Nepali products,&rdquo; Neupane said. &ldquo;Sales have improved this year though it had significantly dropped in the previous years. Sales of both four-wheelers and two-wheelers had gone down last year.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to data provided by the Department for Transport Management, 208,500 units of vehicles were sold in Nepal in the fiscal year 2012/13 which is an increment of 28, 000 units from the previous fiscal year. Only 1, 70, 000 units of vehicles were sold in the fiscal year 2011/12.</div>
<div>
	&nbsp;</div>
<div>
	Neupane added, &ldquo;Around 50 national and international companies are present in Nepal and are dealing in automobiles, providing employment to around 1.7 million people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Golchha said that the annual transaction of the automobiles in Nepal has crossed over Rs 50 billion, which is encouraging the people working in the industry.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/fcs2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 313px;" />Problems and Challenges</strong></span></div>
<div>
	Transportation has always played an important role in the economic and social development of any state. &ldquo;But business in Nepal has been directly hindered by the massive customs duty on the import of vehicles,&rdquo; said Golchha. He also pointed out the increment of 5 per cent excise duty while entrepreneurs try to reduce the customs duty which has pushed this business backwards. He also complained about the high fuel price, the crude manner in which prices of spare parts are fixed at customs offices, and problems created through the open border as major problems facing the country&acute;s automobile sector. &ldquo;Nepal has been levying 241 percent duty, including excise duty, customs tax and VAT on four-wheelers and 80 percent on two-wheelers. This is the highest imposition of tax on automobiles in the world,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	Other major challenges include transportation hurdles and traffic management. Pradip Pradhan, member of NADA, said that the government&rsquo;s categorizing automobiles in the luxury segment has hindered the growth of the sector. &ldquo;Automobiles are essential for the growth of the economy but the government&rsquo;s negligence towards this sector has been a main factor that has held it back,&rdquo; Pradhan mentioned.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Future Prospects&nbsp;</strong></span></div>
<div>
	The auto dealers in Nepal are focusing towards the expansion of this market. Lately, new brands of automobiles are being introduced to the Nepali market on a weekly basis. Auto dealers are experiencing tough competition in introducing user friendly two and four- wheelers in the market. However, along with the rise of 25 per cent in sales, positive signs are emerging to indicate that the future of automobiles in Nepal is not dark.</div>
<div>
	&nbsp;</div>
<div>
	According to Neupane, &ldquo;99.5 per cent of Nepalis do not have access to four-wheelers. With a population of 26.4 million and the number of four-wheel vehicles around 1.5 million, we arrive at the ratio of five families to one vehicle. Based on this data, there are a lot of possibilities for the automobile market in Nepal. &ldquo;Only the market of Kathmandu valley does not depict the extent of the automobile market here; there are 73 districts in Nepal facilitated by motor ways. This shows that the market is growing outside of the valley too,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/fcs3.jpg" style="width: 550px; height: 233px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-17',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate 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 the expansion of the automobile market in Nepal, the possibilities of employment opportunities have also grown. Along with the gradual development of road and transportation facilities in Nepal, the growing business of automobiles and its spare parts, automotive oils and other products used in automobiles have been able to sustain the commercial growth and promotion of the national economy of Nepal.',
			'sortorder' => '1683',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1780',
			'article_category_id' => '153',
			'title' => 'Software Industries Flourishing In Nepal',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	The software market in Nepal is experiencing steady growth. Experts and professionals involved in this business are taking this growth as a positive aspect of developing awareness related to information technology in the country.</div>
<div>
	&nbsp;</div>
<div>
	Supporting the growth, Computer&rsquo;s Association Nepal organised Subisu CAN Softech 2013 with the aim to showcase new technologies developed in the field of software, services, solutions and services and create environment to develop policies significant to promote information and communication technology in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	As per &nbsp;CAN the overall trade of software has increased in the domestic market. Amrit Kumar Pant, General Secretary of CAN, said, the market and activities related to this business have been increasing as the people have been using software and application as necessity while it was used in the form of luxury till some years ago.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The trend of using computers is also on the rise since schools, health institutions, clubs and other social groups in far flung areas of the country have started using computers for day-to-day activities, Pant said, adding that the volume of overall ICT products will double in the next few years.</div>
<div>
	&nbsp;</div>
<div>
	CAN is working toward developing Nepal as a digital hub, particularly in software development, said Pant pointing out various international level software are being developed in Nepal. &ldquo;Some years ago, people used desktop based software but now the people have switched to mobile based, android updating system which shows growing awareness of people towards technology,&rdquo; he added.</div>
<div>
	&nbsp;</div>
<div>
	According to Bishwo Ram Balami, third vice president of CAN, Nepal is independent enough to produce adequate number of domestic software which is being used in cooperatives, medical establishments, small scale industries, shopping malls etc but other software like billing software, banking software are imported from other countries.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Current Business</span></strong></div>
<div>
	The growing market of software business has not been only fulfilling desires of youths and the IT enthusiasts; it also has been boosting up the economy of the country. According to Narayan Neupane, second vice president of CAN, the annual transaction of 30 local companies dealing with Management Information System (MIS) is around Rs 1.5 billion. Similarly, the financial sectors and Enterprises Resource Planning (ERP) software companies are doing transaction of around Rs 4 billion per year. The operating system including Windows, Linux, Mac are annually transacting around Rs 30 million&ndash;Rs 35 million. The use of genuine and branded anti-virus software is on the rise and the trade volume of anti-virus software is around Rs 2 million.</div>
<div>
	&nbsp;</div>
<div>
	A study carried out by Central Bureau of Statistics, Government of Nepal recently showed that the computer penetration in Nepal is around 3 per cent among which 20 per cent uses internet. With the rise of mobile applications, the internet users in mobile has reached up to 67 per cent.</div>
<div>
	&nbsp;</div>
<div>
	A raw data recently showed that there are around 300 software companies in Kathmandu valley.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increment in Outsourcing Activities</span></strong></div>
<div>
	Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world. Outsourcing has now flattened the world to a large extent, and is playing a pivotal role in bridging the digital as well as economic divide among the developed and the developing countries.</div>
<div>
	&nbsp;</div>
<div>
	There is not a specific data on the outsourcing activities of Nepal but it has been definitely increasing as almost 2,500 graduates are being produced from BIT, BIM schools. The manpower has been increasing speedily and as the country is not being able to provide the employment opportunities to those students and they have searched alternative ways to utilize their capabilities. &ldquo;Outsourcing is a common phenomenon in Nepal at present and they are working for the companies of Australia, America, Japan and other western countries,&rdquo; said Balami.</div>
<div>
	&nbsp;</div>
<div>
	Pant said that the outsourcing activities have been providing employment opportunities to around 200-2500 people in the country but actual data has not yet come because most of the people are doing it on the basis of their own personal contact.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems and Challenges</span></strong></div>
<div>
	Brain drain of the human resources has became a concern in the country. Khem Raj Bhattarai, Founder of KRB Software Pvt Ltd said that the skilled manpower are outsourcing to other countries which is a great loss to the nation. &ldquo;We should bring Nepali ICT professionals, who are working abroad, to our &nbsp;country with capital and technology,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	According to the experts of this sector, lack of awareness in the people about running registered software companies have created problems. &ldquo;Many developers were running the business illegally, which was discouraging the registered companies and eventually promoting unhealthy competition in the market,&rdquo; they stressed.</div>
<div>
	&nbsp;</div>
<div>
	There is lack of awareness in the people about the importance of ICT business and its prospects in the country. Pirated software users are also increasing which has been a threat to the software business and awareness should be increased to disarm these sorts of activities.</div>
<div>
	&nbsp;</div>
<div>
	Commenting on the amendment of the IT related Policy, one of the sources from Chief Investigation Bureau (CIB) said that government should come up with an updated provision to encourage the youngsters to engage in healthy business and increasing awareness about the disadvantages of pirated software to the county. They should be given a proper opportunities to showcase their abilities.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Prospects of software business</span></strong></div>
<div>
	The IT sector are experiencing remarkable growth in the Nepali market. The CAN Softech have brought the IT professionals and IT enthusiasts under one roof to discuss new prospects in this sector. Such activities not only act as a hub for these peoples but also encourage them to do something innovative and remarkable in this field. Some of the IT experts feels that Nepal government should prepare special policy for implementing the original software in order to discourage the pirated software. Government sector should support the IT sector in identifying areas to brings revenue in the country.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Way ahead</span></strong></div>
<div>
	In this converging era, people look for a one door solution to their problems as they want one application, which can perform multiple tasks. So, if Nepal is to gear towards introducing itself as ICT-based country, it should focus itself in developing a clean environment where information and technology can flourish in a holistic way.</div>',
			'published' => true,
			'created' => '2013-09-09',
			'modified' => '2013-09-23',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Back at the turn of the century, outsourcing was not much of a global phenomenon as it is today, and businesses and governments alike were skeptic of transferring bulk of their IT works to the other side of the world.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '2013-09-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
			'sortorder' => '1582',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1699',
			'article_category_id' => '153',
			'title' => 'More Demand For Cool Air',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.</div>
<div>
	&nbsp;</div>
<div>
	Growing urbanisation, surge in corporate offices, business complexes and shopping malls have pushed the demand for air-conditioners in the domestic market in the last few years. More than a dozen brands are competing in the Nepali market to cash in the growing demand for air conditioners.</div>
<div>
	&nbsp;</div>
<div>
	Air conditioners in Nepal are mainly imported from a number of East Asian countries like China, Malaysia, Japan and many more.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The domestic market currently consists of varieties including the split type and the wall mount AC to ceiling cassette models from established brands including LG, Whirlpool, Beko, Panasonic, Yasuda, Midea, Gree, McQuay, Fuji Air, Mitsubishi, Daikin and Hyundai. Also available in the market are central ACs, but their sales are limited to big hotels, corporate buildings and shopping complexes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Distributors of the product say that the market for air conditioners in the country has grown by 25 to 30 per cent since its initial days, which reflects the rise in demand for ACs among upper class consumers and a compulsion for ACs in corporate houses, hospitals, shopping malls, hotels and commercial houses. &ldquo;Consumers of AC have doubled in recent years and the sale is expected to grow as the number of hospitals, hotels and other business houses are being constructed in an appreciable way,&rdquo; says Basuki Nath Thanur, Senior Manager-Commercial AC of Airtech Industries Pvt Ltd. According to Thanur, the products are mostly used by upper class consumers from big cities rather than the middle class.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="AC Brands in Nepal" src="/userfiles/images/airq.jpg" style="
float: right; margin: 0px 0px 0px 10px;width: 300px; height: 313px;" />Brands Available in Nepali Market</span></strong></div>
<div>
	A large variety of ACs including the single split type, the wall mountain, the ceiling cassette, ceiling suspended ACs, floor sanding ACs, duck able ACs, VRF or multi split ACs as well as central ACs are found in the Nepali market. Of the brands available here, customers prefer ACs imported from China and Malaysia as they are comparatively cheaper than&nbsp;</div>
<div>
	Japanese ACs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	ACs with a capacity of 0.75 tonne, 1 tonne, 1.5 tonnes and 2 tonnes are found in the market and are targeted at brand conscious people who do not mind paying a little extra for quality and reliability. Prices in the market range from Rs 58,000 to Rs 92,000. According to a company, ACs having capacity of 0.75 to 1.5 tonnes are appropriate for home use, while those with higher capacity are appropriate for&nbsp;</div>
<div>
	office use.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Increasing Demand&nbsp;</span></strong></div>
<div>
	Along with the growing market, customers demand too is on the rise. A lot of customers including the big commercial houses and hotels are moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in living standards of people and the increment of various big commercial houses has forced traders to bring in products to satiate the need of customers. A leading importer mentioned that increasing demand has turned the market fiercely competitive.</div>
<div>
	&nbsp;</div>
<div>
	Even though the price of air conditioners has increased by around 20 per cent, traders dealing with popular brands say sales have increased four-fold since the beginning&nbsp;</div>
<div>
	of summer.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Of the two types of AC widely sold in the market &ndash; domestic and office-use ACs - traders say sales of the wall mount AC has spiked considerably compared to split ACs that are fixed on the ceiling.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	Some traders observe that the market share of air conditioners in Nepal is mostly covered by Chinese, Malaysian and Japanese brands, among which (roughly) 40 per cent of the market is covered by Chinese brands, 35 per cent by Japanese and 25 per cent by Malaysian brands.</div>
<div>
	&nbsp;</div>
<div>
	Traders have observed rapid expansion of the AC market in cities outside Kathmandu, with Narayangarh, Birgunj, Biratnagar, Pokhara, Bhairawa, Hetauda and Nepalgunj showing encouraging growth in the use of ACs. The eastern part of Nepal showed more demand for the appliance than the western part of the country and the gap in sales between Kathmandu and the rest of the country was shown to be narrowing.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges&nbsp;</span></strong></div>
<div>
	The encouraging growth in sales aside, traders are experiencing various hurdles in this business especially since competition is high. Traders claim that quality maintenance is not fair in the market and that with a plethora of products available, duplicate products are on the rise. With the growth of unhealthy competition, duplicate products have been degrading market credibility, which is the negative sign for business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other macro factors such as political instability and the rise of the dollar can be a threat to this business too. But despite these challenges, importers and distributors seem to have plenty to get going, as demand for air conditioners does not seem to show signs of subsiding as yet.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-08-26',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'As the mercury level rises, air conditioners are perhaps the best appliances around for cooling, and there is no dearth of quality in the local market for buyers of the product.',
			'sortorder' => '1560',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1655',
			'article_category_id' => '153',
			'title' => 'Foreign Language Skills Will Drive The Next BPO Boom',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujit Nath</strong></div>
<div>
	&nbsp;</div>
<div>
	The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.</div>
<div>
	&nbsp;</div>
<div>
	Businesses are expanding speedily and reaching even distant corners of the globe. Rapid changes are occurring in the way business transactions are conducted. Boundaries &ndash; physical and linguistic &ndash; are hence being naturally broken.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Globalisation has brought countries closer to each other, and there is now increased interaction between them. In such a scenario, knowledge of a foreign language shall go a long way in enabling improved communication and understanding.</div>
<div>
	&nbsp;</div>
<div>
	To attract more students many institutions are getting associated with coveted institutes such as Max Mueller, Alliance Francaise to ensure the holistic development of the students in terms of languages, which will help them in shaping their career in future.</div>
<div>
	&nbsp;</div>
<div>
	We all know that the best age for a child to pick up a foreign language is when he or she has attained an age of 6-8 years. But with working parents it is not always possible for them to go to such language schools. This is because of the time and budget constraints of their parents. Therefore, many of them are offering customised course classes to suit the timing and budget.</div>
<div>
	&nbsp;</div>
<div>
	A senior executive of Mafoi, a leading Indian placement agency that works for most Fortune 500 companies, says, &ldquo;Our clients have BPO assignment deals not only from France and Germany, but also from Belgium, Netherlands and other countries where these two languages are spoken. Speaking in their language gives confidence in the minds of the foreign clients with regard to their overseas BPOs for it shows that they are well-equipped to handle foreign business. This also helps in building personal rapport for knowledge of a common language, which definitely helps break communication barriers&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	On the context of students or professional from Nepal, she said, &ldquo;I have interviewed many girls from Nepal who has earned expertise in foreign language and doing quite well in USA, UK, Germany and Spain. Most of them were good at Spanish, French and German&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	She feels that Nepal has a great potential and especially the youths, who are talented enough to take up any challenges abroad. &ldquo;They are a good professional,&rdquo; she said.</div>
<div>
	&nbsp;</div>
<div>
	Mainak Sen, who stayed in Nepal for long time and settled in Germany, said, &ldquo;In my college days in Nepal, learning foreign language was not so popular. But I learned the language, which helped me a lot in mingle with the local culture in Germany and my profession. I have many friends in Nepal whose children prefer to learn atleast one foreign language as per their future career plan&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	Jackson Subedi, Director of Alta Vista, &nbsp;exclusive Spanish Language School in Nepal which was founded in 2006, said, &ldquo;In this fast changing global scenario language skills, and particularly the knowledge of European languages, provide a great advantage to youngsters seeking career opportunities in the ever shrinking and increasingly globalised new world order&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	It is not only the love and thrill of learning a foreign language alone that brings these youngsters at these foreign language teaching institutes. They are there because they feel that knowledge of a foreign language other than Nepali and English will give them a passport to a whole new world of opportunities and career options, where their language skills will count a lot.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For instance, Prasanna, who learned Spanish in Nepal, believes that his knowledge of the Spanish language will come in handy not just in Spain, but also in USA and Latin America &mdash; where this language is extensively used. &ldquo;The language helped in enhancing my portfolio,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Interestingly, according to Jackson, the Director of Alta Vista, there are students who wants to learn the foreign language to become tourist guide, which they feel is another sector which is booming every day.</div>
<div>
	&nbsp;</div>
<div>
	But how will knowing a foreign language help them in their careers?&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The focus on creating a personalised business environment has meant that even professionally qualified people feel the need to upgrade their qualifications to stay competitive in the employment race. Multinationals, IT companies and BPOs in the country not only look for people with required technical qualifications but also those with linguistic skills.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;Learning Foreign language does make a difference and candidates knowing Spanish, French or German are definitely at an advantage during recruitment. But I personally feel that in Nepal the demand for learning Spanish is higher among the Nepali students&rdquo;, says Anup Satyal, a well known Spanish language teacher in Nepal.</div>
<div>
	However, some students are opting for Germany because the their education is bit cheaper and widely spoken in Austria, part of Switzerland and in most East European countries such as Poland, the &nbsp;Czech republic, Hungary etc. But there is a significant number who also think it shall be very useful, in terms of their career even in India.</div>
<div>
	&nbsp;</div>
<div>
	There is an increasing demand for linguistically skilled people even for interpretation and translation of technical documents, transactions and e-mails. Some opt for multiple foreign languages, for wider look in other countries to get more opportunities.</div>
<div>
	&nbsp;</div>
<div>
	Another factor for Nepali students opting for multiple foreign languages the USA is no longer the only preferred destination, as several youngsters as seek employment in Europe. There are also many who seek employment in countries such as Canada (Canadian immigration authorities insist on a French language certificate), and in the once-French and German colonies of Africa, where knowledge of French and/or German is extremely beneficial.</div>
<div>
	&nbsp;</div>
<div>
	In coming years youngsters from Nepal will shine more in other countries and proved to a great workforce.</div>',
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			'created' => '2013-08-19',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The world is shrinking beyond our imagination and unlike few years back more and more Nepali students and professional are now going abroad and opting for foreign language skills to enhance their portfolio.',
			'sortorder' => '1516',
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	(int) 13 => array(
		'Article' => array(
			'id' => '1610',
			'article_category_id' => '153',
			'title' => 'Growing Market For Cosmetic Products',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Similar to the hundreds or perhaps thousands of grocery stores around town, there are cosmetic shops set up at every nook and corner of Kathmandu. From departmental stores to local beauty parlours, there is no dearth of cosmetic products for potential customers.</div>
<div>
	&nbsp;</div>
<div>
	Cosmetics products are mainly imported from abroad. Nepal gets its cosmetics products of various brands from a number of different countries. Needless to say, like other imports, a significant share of cosmetics products available in Nepal are manufactured in India.</div>
<div>
	&nbsp;</div>
<div>
	The market for cosmetics products has been growing quite significantly over the last few years. The availability of cosmetics products has increased appreciably and the consumption ratio too has increased with each passing year. The market boasts of leading cosmetics brands from the world. The domestic market for cosmetics products has come a long way as well with top notch global brands and established names from neighbouring countries available in the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders say that the market for cosmetics products in the country is growing at about 25-30 per cent. They attribute the rise in demand for cosmetics products to the growing middle class and awareness about personal image and hygiene, which has resulted in greater spending on beauty and personal care products. &ldquo;The market for cosmetic products in Nepal is very good. It is showing continuous growth,&rdquo; an importer said, adding that people have become fashion conscious and do not mind spending on cosmetic products. According to him, the sales of cosmetics product are good in the cities as well as small towns.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Brands Galore</span></strong></div>
<div>
	The domestic market features products of around 80 cosmetics brands including international brands like Lakme, L&rsquo;Oreal, Garnier and Emami as well as Mac&rsquo;s Lavera, Nova, Chase, Astaberry, Lotus, Ayur, Ole and Aroma Magic. Products from third countries were the top sellers until a few years ago but that scenario has changed. Approximately, 80 per cent of the cosmetic products sold in Nepal currently are imported from India. Other countries that Nepal imports cosmetic products from include China, Singapore, Thailand, UAE and Europe.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Nepali people are slowly understanding the importance of beauty and personal care products,&rdquo; observed another trader. While cosmetic products used to be considered a luxury until a few years ago, they have turned into a necessity today.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Demanding Customers</span></strong></div>
<div>
	Along with the growing market for cosmetic products, customer preference is changing drastically. People are demanding products as per their need in contrast to the past when customers used to simply buy products were available in the market. A lot of people are also moving from lesser priced products to premium ones.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The rise in awareness due to the media has forced traders to bring in products to satiate the need of choosy and demanding customers. A leading importer remarked, &ldquo;The awareness level of customers has turned the market fiercely competitive.&rdquo; &nbsp; &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though women still make up more than 80 per cent of the customers, the number of male customers is growing. The entry of products designed for men in recent years has helped the market grow significantly. Men&rsquo;s products such as after shave, deodorant, perfume, hair gel and skin care items are popular among male customers.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Market Share</span></strong></div>
<div>
	According to an estimate, medium range cosmetic products enjoy a market share of around 60 percent while the premium brands hold around 30 per cent share with the low-end segment garnering around 10 percent of the market.</div>
<div>
	&nbsp;</div>
<div>
	Traders are now giving special attention to all kinds of markets in the country. &ldquo;Around 60 per cent of the market for cosmetic products within the Kathmandu Valley,&rdquo; a trader said. Besides Kathmandu, consumption of cosmetics products is high in places like Pokhara, Dharan, Itahari and Butwal. The gap in sales between Kathmandu and the rest of the country is narrowing so much so that the ratio can come down to 50-50 not too far in the future.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Driving Factors</span></strong></div>
<div>
	Cosmetics are an addiction among Nepalis, commented a store supervisor at a leading cosmetics store. She said that around 10 to 12 new brands enter the market every month and still, all of them manage to survive. She attributes this to the influence of western lifestyles and persuasive television programmes and cinema that have helped to push up the sales figures of cosmetics products. Consumption of cosmetic products is high in the rural market as well with remittance playing a crucial role.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Customers living in small towns too have become more selective. People who used soaps for all purposes earlier are now shifting to products like shampoo and face wash. &ldquo;An increase in the population in semi-urban and urban market places too has helped in the growth of sales for cosmetics products,&rdquo; observed an industry insider.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	A change in the mindset of people has led to increasing demand for cosmetic products among male customers. While males in urban areas started using cosmetic products quite some time ago, rural males have started to use them recently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Challenges</span></strong></div>
<div>
	The encouraging growth in sales and turnover aside, traders are not happy with the way things are. They say that inconsistency of rules and procedures at the customs had slowed the growth of the market. An importer complained that traders are forced to declare higher prices at the customs by the officials. He says that they are thus compelled to sell products at a higher price due to the high import duty.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Duplicate Products</span></strong></div>
<div>
	With the plethora of products available in the market, complaints about duplicate products are also on the rise. Cosmetics products with similar labels and packaging has become a pertinent issue for all cosmetics users. The separation of duplicate products from original ones is almost impossible without proper government regulation.</div>
<div>
	It is hard to decide on the right one due to the availability of brands that claim to be original. However, one can avoid usage of unnecessary and harmful chemicals with long-term consequences on the health of one&rsquo;s skin by taking precautions and advice from experts.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-12',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'There are plenty of cosmetic stores in Kathmandu and all of them seem to have their own set of customers to deal with. Cosmetics business is considered to be among the most thriving businesses in the capital.',
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	(int) 14 => array(
		'Article' => array(
			'id' => '1564',
			'article_category_id' => '153',
			'title' => 'Convenience Stores Target Expansion',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<p>
	<strong style="font-size: 12px;">--By TC Correspondent</strong></p>
<div>
	<div>
		Given the ever escalating population of the Kathmandu Valley, the need for convenience stores which can address the basic needs of customers, is being felt more than before. A convenience store is a small store, mostly located in densely populated areas, that stocks everyday items like groceries, toiletries, soft drinks, tobacco and liquor products along with other customised services.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Convenience stores are a successful business in western countries,&rdquo; a manager with the Chaudhary Group promoted CG Mart remarked, adding, &ldquo;We are confident that the idea is bound to pick up in Nepal too.&rdquo; The people of Nepal are becoming busier and problems of space in core areas are rising, increasing the need for such stores.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		As the name suggests, the stores are mainly operated for the convenience of busy people. While some stores operate till late hours for the benefit of people who work in the evenings, they are also meant to facilitate busy and single people for their shopping needs. Some convenience stores also feature spaces where people can get their tea/coffee and ready-to-eat items for snacking needs.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The Shift&nbsp;</strong></div>
	<div>
		The attitude and expectation of people towards shopping has changed completely. There used to be a time when people hopped from one shop to another looking to buy different commodities. However, the trend of convenience stores offering a wide range of items in a single place has caught on. &ldquo;Not too long ago, Nepalis used to hesitate to enter convenience stores, but now the trend has witnessed a radical shift with a large number of convenience stores opening, targeting the middle class and offering quality products at reasonable prices,&rdquo; said an observer.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		&lsquo;Single shutter&rsquo; cold stores have turned to convenience stores in recent times and sell thousands of products from hundreds of local and international suppliers. This has resulted in direct employment of scores of local people in their own neighbourhood.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="CGMART" src="/userfiles/images/focus1.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 225px;" />Expansion Spree&nbsp;</strong></div>
	<div>
		The movement in this sector has been rather evident. KK Store, a Malaysian chain store brand now operates four stores in Kathmandu. Similarly, CG Mart, Big Mart and Stuti Mero Mart among others too have opened multiple stores and boast of expansion plans in the Kathmandu Valley as well as other parts of the country.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart also plans to develop convenience stores in a franchise style. &ldquo;Those who are currently operating a mini-mart or a small supermarket can brand it in our name. However, they need to follow the rules and norms set by us,&rdquo; said an official. CG is planning to open 10-12 convenience stores in Kathmandu this year and intends to increase the number to more than 100 in another two years. Apart from Kathmandu, the company has aimed to open stores in Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart, a local chain of convenience stores, has expanded its presence in Kathmandu by opening outlets in Ghattekulo, Katyayani Chowk and Sinamangal. One of the major aims of Stuti Mero Mart is to expand its presence in all 35 wards of Kathmandu Metropolitan City. &ldquo;We will be opening 17 more outlets in Kathmandu district within one-and-a-half years,&rdquo; a store manager said. Upon completion of the expansion process in Kathmandu, Stuti intends to venture into Lalitpur and Bhaktapur districts before penetrating markets located outside the Kathmandu Valley.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Mega Mart, the operator of Big Mart stores, has firmed plans to expand its retail network by opening 11 new stores in Nepal in 2013 including stores at Sanepa, Old Baneshwor, Sinamangal, Kalanki, New Bus Park, Pepsicola and Dholahiti in Patan. A manager at Big Mart said the store expansion programme is part of the company&rsquo;s strategy to expand into neighbourhood regions. &ldquo;Our aim is to reach out to as many places as possible for the convenience of our customers,&rdquo; he said. The company also plans to expand outside the Kathmandu Valley by opening stores in Pokhara and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong><img alt="BIGMART" src="/userfiles/images/focus2.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 225px;" />Major Players&nbsp;</strong></div>
	<div>
		CG Mart stores offer everyday items like groceries, toiletries, beverages, tobacco and liquor along with various customised services. Stores located in densely populated areas have been designed to fulfill the daily requirements of people residing or working nearby. Largely famous in Western countries, the company believes that the concept will be equally popular in Nepal. The company has set up its own supply chain so that they need not depend on other agencies for stock. It believes that the supply chain will also help to price the goods nominally. CG Mart opens from 7 am to 11 pm to cater to the needs of people with busy schedules.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		ANS Co has ventured into retail business by opening a chain of convenience stores named Stuti Mero Mart in different parts of Kathmandu. An official of the company said the main objective of the mart is to provide an impeccable shopping experience at the local level.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Stuti Mero Mart outlets open from 8 am to 8 pm and boast of a collection of around 7,500 items, both domestic and imported. These items range from spices, meat and confectionaries to cosmetic items, toiletries, liquor and kitchen ware. All its outlets are spread over an area of 2,000 to 3,000 sq ft with each store hiring 8-10 local employees. All outlets of Stuti Mero Mart are also providing free home delivery service for the convenience of its customers. Stuti Mero Mart is also planning to launch an online store soon so that customers can place orders from home.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Big Mart, on the other hand, maintains four stores at City Center in Kamalpokhari, Lazimpat, Shantinagar and Jhamsikhel. Big Mart plans to take its store tally to 15 by the year-end.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Store Locations&nbsp;</strong></div>
	<div>
		Possibility and feasibility are the prime factors in determining the locations of convenience stores, said a store manager of Big Mart. CG Mart too said it chooses the location as per its plan to penetrate high-potential areas for retail business. &ldquo;We plan to open stores in highly populated areas to meet daily requirements of people residing there or working nearby,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		CG Mart plans to open around 300 to 400 outlets across the country within the next three years. Outside the valley, CG Mart will expand in areas having high density population like Pokhara, Butwal and Biratnagar.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>Target Market&nbsp;</strong></div>
	<div>
		&ldquo;We are mainly targeting new and affluent suburbs of Kathmandu,&rdquo; said a manager at Mega Mart. Big Mart stores cater to the needs of people from all income groups. Besides the usual products, the store also features chicken, goat and buffalo meat.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<strong>The &lsquo;Chain&rsquo; Effect&nbsp;</strong></div>
	<div>
		A chain of convenience stores usually have uniform products, mostly consisting of consumables. Even though they do not command large volumes as stand alone units, the numbers start becoming significant when one combines the volume going out to all stores. This factor provides the companies leverage against suppliers, allowing them to negotiate for larger margins. Those benefits could then be passed on to the consumers. The chain stores in Kathmandu are already operating for 16 hours a day and in the future, there is scope for 24-hour stores, said industry analysts. Chain stores in Nepal could also emulate stores abroad and provide tea/ coffee, hot food and other related items that would make these stores even more convenient for consumers, they said.</div>
</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-08-05',
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			'description' => 'Popular convenience store chains in Kathmandu are looking to rapidly expand their business by opening new outlets.',
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