Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '561',
			'article_category_id' => '34',
			'title' => 'IFIC To Buy 41 Per Cent Share In NB Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB). After the deal is executed, IFIC’s stake in NBB will reach 51 per cent from the present 10 percent.</p>
<p>
	According to the details submitted to the Nepal Stock Exchange (NEPSE) by NBB, its existing shareholder IFIC has begun the process to buy 15 per cent promoter shares in NBB from Bank Asia, a Bangladeshi bank, and 26 per cent promoter shares from NB Group, the Nepali promoters of NBB.</p>
<p>
	IFIC has filed an application at the central bank of Bangladesh seeking approval of the deal. After receiving the approval from the Bangladesh central bank, IFIC has to seek an approval from Nepal’s central bank as well. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB).',
			'sortorder' => '464',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '560',
			'article_category_id' => '34',
			'title' => 'NEA Signs PPA With Rasuwagadhi And Mid-Bhotekoshi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company. The price under these PPAs is Rs 8.40 per unit in dry season and Rs 4.80 during wet seasons, according to Sher Singh Bhat, NEA’s Chief of Electricity Trading Department.</p>
<p>
	According to the agreement, both the projects are allowed price escalation of 3 per cent per annum up to eight times from the date of the start of commercial power production. While Rasuwagadhi project is estimated to cost Rs 13.68 billion it is Rs. 12.28 in Mid-Bhotekoshi. The cost will be financed by loans and share investment in 50/50 ratio. Employees Provident Fund has promised a loan of Rs 6.225 billion for Rasuwagadhi and Rs 6.21 billion for Mid-Bhotekoshi.</p>
<p>
	Similarly, in Rasuwagadhi and Mid-Bhotekoshi, Chilime will have share investment of 33 and 38 per cent respectively while NEA will have 18 and 10 per cent respectively. Employees Provident Fund Depositors will have 19.5 per cent share on both the projects.</p>
<p>
	Likewise, employees of Chilime will have 4.5 per cent shares while the people of the project-affected districts will have 10 per cent and other general public will have 15 per cent. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company.',
			'sortorder' => '463',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'id' => '559',
			'article_category_id' => '34',
			'title' => '18 Big Businesses Appeal Against IRD',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD). Such businesses include Jagadamba Steel, CGGC Chamelia (a contractor of Chamelia project), Arun Intercontinental, The Explore Nepal and Shakti Commercial Enterprises. </p>
<p>
	Well over Rs 630 million in state revenue is said to be evaded by these 18 business houses according to IRD which also claims that more than Rs 3 billion in taxes is evaded by 437 business houses. According to the law, a party not satisfied with the decision of the IRD can appeal at the revenue tribunal within 35 days by depositing 50 per cent of the penalty amount imposed by IRD. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD).',
			'sortorder' => '462',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		'Article' => array(
			'id' => '558',
			'article_category_id' => '34',
			'title' => 'Surya Nepal Asha Social Entrepreneurship Award',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="4" height="201" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/surya.jpg" vspace="1" width="300" /></p>
<p>
	The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants. Ram Sapkota (Mountain Delights Treks and Expedition and Tukee Nepal, Jyamrung), Sabita Maharjan (Kirtipur Hosiery, Kirtipur), Shyam Badan Yadav (Kalash Milk Industry, Dhorey Village, Parsa), Vijaya Develoment Resource Centre (VDRC, Nawalparasi) and Chhahari Services (Kathmandu) were awarded a cash prize of Rs 100,000 each by Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal</p>
<p>
	. Surya Nepal Asha Social Entrepreneurship Award 2011 was sponsored by Surya Nepal Private Limited, organised by ChangeFusion Nepal and supported by NBI. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants',
			'sortorder' => '461',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'id' => '557',
			'article_category_id' => '34',
			'title' => '3 Big Industrial Infrastructure In Far West',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region. Among those is a special economic zone (SEZ) that will be set up in Kailali district. The other two will be in Kanchanpur district of which one is Far Western Industrial Estate and a dry port. Minister Jha said, the dry port will be in Dodhara-Chadani area. At a press meet on November 10, Jha promised to deploy a team of technician and specialists for detailed studies for these three projects. He also urged investors to look into opportunities in the far west.</p>
<p>
	The SEZ project has been under proposal for a number of years and the budget released by successive previous governments for this project has been freezing. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region.',
			'sortorder' => '460',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '556',
			'article_category_id' => '34',
			'title' => 'Heritage Carpet Coming',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December. The industry at Thankot, set up with Rs 200 million, is planning to produce quality carpets with the brand name Heritage. </p>
<p>
	According to Yubraj Dhakal, Director of the company, 95 per cent of factory set up has completed. The factory can produce 5-6,000 metres of carpet every day. Dhakal said that the carpets produced by the company will be of premium quality and price. So, the company is also planning to export it to India.</p>
<p>
	According to the company, more than 50 people will be getting direct employment while equal number of people will be getting indirect employment opportunities. Lately, the demand for good quality carpets is on the rise. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December.',
			'sortorder' => '459',
			'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) 6 => array(
		'Article' => array(
			'id' => '555',
			'article_category_id' => '34',
			'title' => 'Casino Nepal Under Malaysian Company',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza. The same company has been managing Casino Shangri- La as well. Bodh Bikram Pandey, Director of SM and Casino Shangri-La confirmed that an agreement has been signed between both the parties to manage the CN.</p>
<p>
	According to the agreement the number of workers at the CN will be reduced to 500 from the present 775. SM has agreed to provide Rs 160 million to pay salaries and allowances to retired workers as well as the outstanding salary to the retained workers. . </p>
<p>
	CN had remained closed for three months and it has to pay Rs 140 million as taxes to the government as of the end of the fiscal year 2010/11. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza',
			'sortorder' => '458',
			'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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		'Article' => array(
			'id' => '554',
			'article_category_id' => '34',
			'title' => '50 Projects For Investment Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects. </p>
<p>
	The strategy is expected to attract large investors in the country during the investment year. According to Hemant Dawadi, Director General of FNCCI, the federation is preparing profiles of the projects. This is the first time that FNCCI is preparing such an extensive strategy paper for large projects. Dawadi said that the projects will be mainly in hydropower, tourism, education, health, agriculture, infrastructure development, cement and consumer goods.</p>
<p>
	Such profiles will include the investment opportunities in the respective field, the government policy for the same as well as the constraints in the realisation of the opportunities. According to Dawadi, once the projects are developed, investors will be searched in China, India, America and European countries by mobilising support from the business chambers in the respective countries. FNCCI says it has plan to set up an information centre with its own investment within three years. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects.',
			'sortorder' => '457',
			'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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		'Article' => array(
			'id' => '553',
			'article_category_id' => '34',
			'title' => 'Yamaha YBR Mileage Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages, MAW Enterprises, the authorised distributor of Yamaha for Nepal, organised Yamaha YBR Mileage Challenge in Janakpur.</p>
<p>
	<img align="right" alt="" border="5" height="167" hspace="4" src="http://newbusinessage.com/ckfinder/userfiles/Images/yahama.jpg" vspace="4" width="300" /></p>
<p>
	A total of 45 owners of YBR motorbikes participated in the event. Khusi Lal Thakuri won in the YBR 110 category with a mileage of 85 km per litre. Ratneshwor Yadav with 84 km per litre was the first runner-up. Similarly, Radheshyam Rajak won in the YBR 125 category with a mileage of 79 km per litre while Bijay Kumar Thakur was the runner up. Winners were declared on the basis of distance covered by the bikes in a minute. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages',
			'sortorder' => '456',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '552',
			'article_category_id' => '34',
			'title' => 'Solar Electrification In Bhojpur Village',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT), a modern and environmentally clean source of electricity. The project was funded and implemented with assistance from the Government of India. Under the scheme, 155 houses have benefited. Each household has received a solar panel, maintenance free battery and home lighting system of 75 watts. The project cost Rs 7.39 million. Colonel Ajay Pasbola, Defence Attache with the Embassy of India in Nepal, formally inaugurated and handed over the project to Users Committee on 16 November. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT)',
			'sortorder' => '455',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '551',
			'article_category_id' => '34',
			'title' => 'NEPSE Begins Block Trading',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Stock Exchange (NEPSE) has started a special system for block trading from November 15. Trading of more than one per cent of the listed shares of a company is defined as ‘block trading’, according to NEPSE. For such trading, NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited by India’s hospitality industry major Oberoi Hotels to Nepal’s investment company Shivcream Land and Industries Company.</p>
<p>
	With this Oberoi has made final exit from Soaltee. With the new system, buyers and sellers of large quantity of shares of a company can negotiate the price outside the NEPSE and bring the deal to NEPSE for record purpose. Thus the parties to such deals can now pay the commission on the basis of the actual deal value. Earlier, as the deals were recorded by NEPSE on the current market price, the parties were forced to pay a high commission. </p>
<p>
	NEPSE hopes, this new system will make it easier for the large shareholders, such as foreign direct investors to exit from a company. According to Nepse, the Soaltee deal was signed between the parties on September 14 and the price agreed was Rs. 140 per share. The Face value of Soaltee’s shares is Rs. 10 per unit. The latest trading price of Soaltee’s shares before November 15 was Rs. 186. With the exit of Oberoi, Soaltee now has Holiday Inn International as the only foreign shareholder. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited',
			'sortorder' => '454',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '550',
			'article_category_id' => '34',
			'title' => 'NIBL Partners With Broadlink, Radius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network &amp; Communication Pvt Ltd which will allow NIBL customers to purchase Broadlink’s PINs through NIBL eBanking and ATMs.<img align="left" alt="" border="1" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/brodlink.jpg" style="width: 133px; height: 122px;" vspace="2" />The facility will cover both Wi-Fi service (Broadlink Wi-Fi) and Internet based telephone service (Broadtel) provided by Broadlink.<img align="right" alt="" border="3" height="70" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/investment.jpg" vspace="1" width="300" /></p>
<p>
	Similarly, the bank also integrated with Radius Communications enabling purchase of calling cards through ATMs and eBanking. Radius Communications has been providing IP Telephony service for the past one year through which international calls can be made at very economical rates. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network & Communication Pvt Ltd',
			'sortorder' => '453',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '549',
			'article_category_id' => '34',
			'title' => 'Young Entrepreneurs Honoured',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="5" height="160" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/1st.jpg" vspace="2" width="300" /></p>
<p>
	Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17. Biswas Dhakal of E-Sewa, Hajuri Bista of Nawaras Pickles, Hari Bhakta Sharma of Deurali Janta Pharmaceuticals and Bhola Sharma who established a library in Parbat were felicitated during the programme.</p>
<p>
	Similarly, Maheshwor Shrestha of Everest Fashion, Nirajan Shrestha of Sujal Foods, Om Rajbhandari of Brihat Investments, and Shyam Kakshapati of Nanglo International were also honoured. Though GEW is celebrated for a week globally, in Nepal it was observed only for a day. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17',
			'sortorder' => '452',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '548',
			'article_category_id' => '34',
			'title' => 'NMB, BPKIHS Tie Up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital.</p>
<p>
	<img align="right" alt="" border="1" height="92" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/nmb.jpg" vspace="2" width="300" /></p>
<p>
	With this agreement, the bank can open bill counters to collect revenues on behalf of the hospital and facilitate a system to effectively manage the fund. The bank will also establish a separate banking counter to provide various banking services to the hospital’s staff, doctors, and medical students.  &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital',
			'sortorder' => '451',
			'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) 14 => array(
		'Article' => array(
			'id' => '547',
			'article_category_id' => '34',
			'title' => 'Five-Year AML Strategy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The government has come up with a five-year strategy to fight money laundering and terroristfinancing. According to this Anti-Money Laundering (AML) strategy, legal provisions are being amended to allow the government authority to seize black money. It has also incorporated institutional and policy reforms detailing the activities and responsibilities of different government bodies.</p>
<p>
	This follows increasing pressure from the international community to make such law. Latest such pressure came a couple of weeks back from the meeting, of Financial Action Task Force (FATF) held in France. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government has come up with a five-year strategy',
			'sortorder' => '450',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
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			'Article' => array(
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			'Article' => array(
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			'Article' => array(
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			'Article' => array(
				[maximum depth reached]
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		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
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	'current_user' => null,
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)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '561',
			'article_category_id' => '34',
			'title' => 'IFIC To Buy 41 Per Cent Share In NB Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB). After the deal is executed, IFIC’s stake in NBB will reach 51 per cent from the present 10 percent.</p>
<p>
	According to the details submitted to the Nepal Stock Exchange (NEPSE) by NBB, its existing shareholder IFIC has begun the process to buy 15 per cent promoter shares in NBB from Bank Asia, a Bangladeshi bank, and 26 per cent promoter shares from NB Group, the Nepali promoters of NBB.</p>
<p>
	IFIC has filed an application at the central bank of Bangladesh seeking approval of the deal. After receiving the approval from the Bangladesh central bank, IFIC has to seek an approval from Nepal’s central bank as well. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB).',
			'sortorder' => '464',
			'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) 1 => array(
		'Article' => array(
			'id' => '560',
			'article_category_id' => '34',
			'title' => 'NEA Signs PPA With Rasuwagadhi And Mid-Bhotekoshi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company. The price under these PPAs is Rs 8.40 per unit in dry season and Rs 4.80 during wet seasons, according to Sher Singh Bhat, NEA’s Chief of Electricity Trading Department.</p>
<p>
	According to the agreement, both the projects are allowed price escalation of 3 per cent per annum up to eight times from the date of the start of commercial power production. While Rasuwagadhi project is estimated to cost Rs 13.68 billion it is Rs. 12.28 in Mid-Bhotekoshi. The cost will be financed by loans and share investment in 50/50 ratio. Employees Provident Fund has promised a loan of Rs 6.225 billion for Rasuwagadhi and Rs 6.21 billion for Mid-Bhotekoshi.</p>
<p>
	Similarly, in Rasuwagadhi and Mid-Bhotekoshi, Chilime will have share investment of 33 and 38 per cent respectively while NEA will have 18 and 10 per cent respectively. Employees Provident Fund Depositors will have 19.5 per cent share on both the projects.</p>
<p>
	Likewise, employees of Chilime will have 4.5 per cent shares while the people of the project-affected districts will have 10 per cent and other general public will have 15 per cent. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company.',
			'sortorder' => '463',
			'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) 2 => array(
		'Article' => array(
			'id' => '559',
			'article_category_id' => '34',
			'title' => '18 Big Businesses Appeal Against IRD',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD). Such businesses include Jagadamba Steel, CGGC Chamelia (a contractor of Chamelia project), Arun Intercontinental, The Explore Nepal and Shakti Commercial Enterprises. </p>
<p>
	Well over Rs 630 million in state revenue is said to be evaded by these 18 business houses according to IRD which also claims that more than Rs 3 billion in taxes is evaded by 437 business houses. According to the law, a party not satisfied with the decision of the IRD can appeal at the revenue tribunal within 35 days by depositing 50 per cent of the penalty amount imposed by IRD. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD).',
			'sortorder' => '462',
			'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' => '558',
			'article_category_id' => '34',
			'title' => 'Surya Nepal Asha Social Entrepreneurship Award',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="4" height="201" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/surya.jpg" vspace="1" width="300" /></p>
<p>
	The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants. Ram Sapkota (Mountain Delights Treks and Expedition and Tukee Nepal, Jyamrung), Sabita Maharjan (Kirtipur Hosiery, Kirtipur), Shyam Badan Yadav (Kalash Milk Industry, Dhorey Village, Parsa), Vijaya Develoment Resource Centre (VDRC, Nawalparasi) and Chhahari Services (Kathmandu) were awarded a cash prize of Rs 100,000 each by Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal</p>
<p>
	. Surya Nepal Asha Social Entrepreneurship Award 2011 was sponsored by Surya Nepal Private Limited, organised by ChangeFusion Nepal and supported by NBI. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants',
			'sortorder' => '461',
			'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) 4 => array(
		'Article' => array(
			'id' => '557',
			'article_category_id' => '34',
			'title' => '3 Big Industrial Infrastructure In Far West',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region. Among those is a special economic zone (SEZ) that will be set up in Kailali district. The other two will be in Kanchanpur district of which one is Far Western Industrial Estate and a dry port. Minister Jha said, the dry port will be in Dodhara-Chadani area. At a press meet on November 10, Jha promised to deploy a team of technician and specialists for detailed studies for these three projects. He also urged investors to look into opportunities in the far west.</p>
<p>
	The SEZ project has been under proposal for a number of years and the budget released by successive previous governments for this project has been freezing. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region.',
			'sortorder' => '460',
			'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' => '556',
			'article_category_id' => '34',
			'title' => 'Heritage Carpet Coming',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December. The industry at Thankot, set up with Rs 200 million, is planning to produce quality carpets with the brand name Heritage. </p>
<p>
	According to Yubraj Dhakal, Director of the company, 95 per cent of factory set up has completed. The factory can produce 5-6,000 metres of carpet every day. Dhakal said that the carpets produced by the company will be of premium quality and price. So, the company is also planning to export it to India.</p>
<p>
	According to the company, more than 50 people will be getting direct employment while equal number of people will be getting indirect employment opportunities. Lately, the demand for good quality carpets is on the rise. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December.',
			'sortorder' => '459',
			'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' => '555',
			'article_category_id' => '34',
			'title' => 'Casino Nepal Under Malaysian Company',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza. The same company has been managing Casino Shangri- La as well. Bodh Bikram Pandey, Director of SM and Casino Shangri-La confirmed that an agreement has been signed between both the parties to manage the CN.</p>
<p>
	According to the agreement the number of workers at the CN will be reduced to 500 from the present 775. SM has agreed to provide Rs 160 million to pay salaries and allowances to retired workers as well as the outstanding salary to the retained workers. . </p>
<p>
	CN had remained closed for three months and it has to pay Rs 140 million as taxes to the government as of the end of the fiscal year 2010/11. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza',
			'sortorder' => '458',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '554',
			'article_category_id' => '34',
			'title' => '50 Projects For Investment Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects. </p>
<p>
	The strategy is expected to attract large investors in the country during the investment year. According to Hemant Dawadi, Director General of FNCCI, the federation is preparing profiles of the projects. This is the first time that FNCCI is preparing such an extensive strategy paper for large projects. Dawadi said that the projects will be mainly in hydropower, tourism, education, health, agriculture, infrastructure development, cement and consumer goods.</p>
<p>
	Such profiles will include the investment opportunities in the respective field, the government policy for the same as well as the constraints in the realisation of the opportunities. According to Dawadi, once the projects are developed, investors will be searched in China, India, America and European countries by mobilising support from the business chambers in the respective countries. FNCCI says it has plan to set up an information centre with its own investment within three years. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects.',
			'sortorder' => '457',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '553',
			'article_category_id' => '34',
			'title' => 'Yamaha YBR Mileage Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages, MAW Enterprises, the authorised distributor of Yamaha for Nepal, organised Yamaha YBR Mileage Challenge in Janakpur.</p>
<p>
	<img align="right" alt="" border="5" height="167" hspace="4" src="http://newbusinessage.com/ckfinder/userfiles/Images/yahama.jpg" vspace="4" width="300" /></p>
<p>
	A total of 45 owners of YBR motorbikes participated in the event. Khusi Lal Thakuri won in the YBR 110 category with a mileage of 85 km per litre. Ratneshwor Yadav with 84 km per litre was the first runner-up. Similarly, Radheshyam Rajak won in the YBR 125 category with a mileage of 79 km per litre while Bijay Kumar Thakur was the runner up. Winners were declared on the basis of distance covered by the bikes in a minute. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages',
			'sortorder' => '456',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '552',
			'article_category_id' => '34',
			'title' => 'Solar Electrification In Bhojpur Village',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT), a modern and environmentally clean source of electricity. The project was funded and implemented with assistance from the Government of India. Under the scheme, 155 houses have benefited. Each household has received a solar panel, maintenance free battery and home lighting system of 75 watts. The project cost Rs 7.39 million. Colonel Ajay Pasbola, Defence Attache with the Embassy of India in Nepal, formally inaugurated and handed over the project to Users Committee on 16 November. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT)',
			'sortorder' => '455',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '551',
			'article_category_id' => '34',
			'title' => 'NEPSE Begins Block Trading',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Stock Exchange (NEPSE) has started a special system for block trading from November 15. Trading of more than one per cent of the listed shares of a company is defined as ‘block trading’, according to NEPSE. For such trading, NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited by India’s hospitality industry major Oberoi Hotels to Nepal’s investment company Shivcream Land and Industries Company.</p>
<p>
	With this Oberoi has made final exit from Soaltee. With the new system, buyers and sellers of large quantity of shares of a company can negotiate the price outside the NEPSE and bring the deal to NEPSE for record purpose. Thus the parties to such deals can now pay the commission on the basis of the actual deal value. Earlier, as the deals were recorded by NEPSE on the current market price, the parties were forced to pay a high commission. </p>
<p>
	NEPSE hopes, this new system will make it easier for the large shareholders, such as foreign direct investors to exit from a company. According to Nepse, the Soaltee deal was signed between the parties on September 14 and the price agreed was Rs. 140 per share. The Face value of Soaltee’s shares is Rs. 10 per unit. The latest trading price of Soaltee’s shares before November 15 was Rs. 186. With the exit of Oberoi, Soaltee now has Holiday Inn International as the only foreign shareholder. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited',
			'sortorder' => '454',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '550',
			'article_category_id' => '34',
			'title' => 'NIBL Partners With Broadlink, Radius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network &amp; Communication Pvt Ltd which will allow NIBL customers to purchase Broadlink’s PINs through NIBL eBanking and ATMs.<img align="left" alt="" border="1" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/brodlink.jpg" style="width: 133px; height: 122px;" vspace="2" />The facility will cover both Wi-Fi service (Broadlink Wi-Fi) and Internet based telephone service (Broadtel) provided by Broadlink.<img align="right" alt="" border="3" height="70" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/investment.jpg" vspace="1" width="300" /></p>
<p>
	Similarly, the bank also integrated with Radius Communications enabling purchase of calling cards through ATMs and eBanking. Radius Communications has been providing IP Telephony service for the past one year through which international calls can be made at very economical rates. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network & Communication Pvt Ltd',
			'sortorder' => '453',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '549',
			'article_category_id' => '34',
			'title' => 'Young Entrepreneurs Honoured',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="5" height="160" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/1st.jpg" vspace="2" width="300" /></p>
<p>
	Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17. Biswas Dhakal of E-Sewa, Hajuri Bista of Nawaras Pickles, Hari Bhakta Sharma of Deurali Janta Pharmaceuticals and Bhola Sharma who established a library in Parbat were felicitated during the programme.</p>
<p>
	Similarly, Maheshwor Shrestha of Everest Fashion, Nirajan Shrestha of Sujal Foods, Om Rajbhandari of Brihat Investments, and Shyam Kakshapati of Nanglo International were also honoured. Though GEW is celebrated for a week globally, in Nepal it was observed only for a day. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17',
			'sortorder' => '452',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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		'Article' => array(
			'id' => '548',
			'article_category_id' => '34',
			'title' => 'NMB, BPKIHS Tie Up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital.</p>
<p>
	<img align="right" alt="" border="1" height="92" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/nmb.jpg" vspace="2" width="300" /></p>
<p>
	With this agreement, the bank can open bill counters to collect revenues on behalf of the hospital and facilitate a system to effectively manage the fund. The bank will also establish a separate banking counter to provide various banking services to the hospital’s staff, doctors, and medical students.  &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital',
			'sortorder' => '451',
			'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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			'id' => '547',
			'article_category_id' => '34',
			'title' => 'Five-Year AML Strategy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The government has come up with a five-year strategy to fight money laundering and terroristfinancing. According to this Anti-Money Laundering (AML) strategy, legal provisions are being amended to allow the government authority to seize black money. It has also incorporated institutional and policy reforms detailing the activities and responsibilities of different government bodies.</p>
<p>
	This follows increasing pressure from the international community to make such law. Latest such pressure came a couple of weeks back from the meeting, of Financial Action Task Force (FATF) held in France. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government has come up with a five-year strategy',
			'sortorder' => '450',
			'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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)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '561',
			'article_category_id' => '34',
			'title' => 'IFIC To Buy 41 Per Cent Share In NB Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB). After the deal is executed, IFIC’s stake in NBB will reach 51 per cent from the present 10 percent.</p>
<p>
	According to the details submitted to the Nepal Stock Exchange (NEPSE) by NBB, its existing shareholder IFIC has begun the process to buy 15 per cent promoter shares in NBB from Bank Asia, a Bangladeshi bank, and 26 per cent promoter shares from NB Group, the Nepali promoters of NBB.</p>
<p>
	IFIC has filed an application at the central bank of Bangladesh seeking approval of the deal. After receiving the approval from the Bangladesh central bank, IFIC has to seek an approval from Nepal’s central bank as well. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB).',
			'sortorder' => '464',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '560',
			'article_category_id' => '34',
			'title' => 'NEA Signs PPA With Rasuwagadhi And Mid-Bhotekoshi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company. The price under these PPAs is Rs 8.40 per unit in dry season and Rs 4.80 during wet seasons, according to Sher Singh Bhat, NEA’s Chief of Electricity Trading Department.</p>
<p>
	According to the agreement, both the projects are allowed price escalation of 3 per cent per annum up to eight times from the date of the start of commercial power production. While Rasuwagadhi project is estimated to cost Rs 13.68 billion it is Rs. 12.28 in Mid-Bhotekoshi. The cost will be financed by loans and share investment in 50/50 ratio. Employees Provident Fund has promised a loan of Rs 6.225 billion for Rasuwagadhi and Rs 6.21 billion for Mid-Bhotekoshi.</p>
<p>
	Similarly, in Rasuwagadhi and Mid-Bhotekoshi, Chilime will have share investment of 33 and 38 per cent respectively while NEA will have 18 and 10 per cent respectively. Employees Provident Fund Depositors will have 19.5 per cent share on both the projects.</p>
<p>
	Likewise, employees of Chilime will have 4.5 per cent shares while the people of the project-affected districts will have 10 per cent and other general public will have 15 per cent. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company.',
			'sortorder' => '463',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 2 => array(
		'Article' => array(
			'id' => '559',
			'article_category_id' => '34',
			'title' => '18 Big Businesses Appeal Against IRD',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD). Such businesses include Jagadamba Steel, CGGC Chamelia (a contractor of Chamelia project), Arun Intercontinental, The Explore Nepal and Shakti Commercial Enterprises. </p>
<p>
	Well over Rs 630 million in state revenue is said to be evaded by these 18 business houses according to IRD which also claims that more than Rs 3 billion in taxes is evaded by 437 business houses. According to the law, a party not satisfied with the decision of the IRD can appeal at the revenue tribunal within 35 days by depositing 50 per cent of the penalty amount imposed by IRD. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD).',
			'sortorder' => '462',
			'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' => '558',
			'article_category_id' => '34',
			'title' => 'Surya Nepal Asha Social Entrepreneurship Award',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="4" height="201" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/surya.jpg" vspace="1" width="300" /></p>
<p>
	The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants. Ram Sapkota (Mountain Delights Treks and Expedition and Tukee Nepal, Jyamrung), Sabita Maharjan (Kirtipur Hosiery, Kirtipur), Shyam Badan Yadav (Kalash Milk Industry, Dhorey Village, Parsa), Vijaya Develoment Resource Centre (VDRC, Nawalparasi) and Chhahari Services (Kathmandu) were awarded a cash prize of Rs 100,000 each by Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal</p>
<p>
	. Surya Nepal Asha Social Entrepreneurship Award 2011 was sponsored by Surya Nepal Private Limited, organised by ChangeFusion Nepal and supported by NBI. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants',
			'sortorder' => '461',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		'Article' => array(
			'id' => '557',
			'article_category_id' => '34',
			'title' => '3 Big Industrial Infrastructure In Far West',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region. Among those is a special economic zone (SEZ) that will be set up in Kailali district. The other two will be in Kanchanpur district of which one is Far Western Industrial Estate and a dry port. Minister Jha said, the dry port will be in Dodhara-Chadani area. At a press meet on November 10, Jha promised to deploy a team of technician and specialists for detailed studies for these three projects. He also urged investors to look into opportunities in the far west.</p>
<p>
	The SEZ project has been under proposal for a number of years and the budget released by successive previous governments for this project has been freezing. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region.',
			'sortorder' => '460',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '556',
			'article_category_id' => '34',
			'title' => 'Heritage Carpet Coming',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December. The industry at Thankot, set up with Rs 200 million, is planning to produce quality carpets with the brand name Heritage. </p>
<p>
	According to Yubraj Dhakal, Director of the company, 95 per cent of factory set up has completed. The factory can produce 5-6,000 metres of carpet every day. Dhakal said that the carpets produced by the company will be of premium quality and price. So, the company is also planning to export it to India.</p>
<p>
	According to the company, more than 50 people will be getting direct employment while equal number of people will be getting indirect employment opportunities. Lately, the demand for good quality carpets is on the rise. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December.',
			'sortorder' => '459',
			'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' => '555',
			'article_category_id' => '34',
			'title' => 'Casino Nepal Under Malaysian Company',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza. The same company has been managing Casino Shangri- La as well. Bodh Bikram Pandey, Director of SM and Casino Shangri-La confirmed that an agreement has been signed between both the parties to manage the CN.</p>
<p>
	According to the agreement the number of workers at the CN will be reduced to 500 from the present 775. SM has agreed to provide Rs 160 million to pay salaries and allowances to retired workers as well as the outstanding salary to the retained workers. . </p>
<p>
	CN had remained closed for three months and it has to pay Rs 140 million as taxes to the government as of the end of the fiscal year 2010/11. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza',
			'sortorder' => '458',
			'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) 7 => array(
		'Article' => array(
			'id' => '554',
			'article_category_id' => '34',
			'title' => '50 Projects For Investment Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects. </p>
<p>
	The strategy is expected to attract large investors in the country during the investment year. According to Hemant Dawadi, Director General of FNCCI, the federation is preparing profiles of the projects. This is the first time that FNCCI is preparing such an extensive strategy paper for large projects. Dawadi said that the projects will be mainly in hydropower, tourism, education, health, agriculture, infrastructure development, cement and consumer goods.</p>
<p>
	Such profiles will include the investment opportunities in the respective field, the government policy for the same as well as the constraints in the realisation of the opportunities. According to Dawadi, once the projects are developed, investors will be searched in China, India, America and European countries by mobilising support from the business chambers in the respective countries. FNCCI says it has plan to set up an information centre with its own investment within three years. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects.',
			'sortorder' => '457',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '553',
			'article_category_id' => '34',
			'title' => 'Yamaha YBR Mileage Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages, MAW Enterprises, the authorised distributor of Yamaha for Nepal, organised Yamaha YBR Mileage Challenge in Janakpur.</p>
<p>
	<img align="right" alt="" border="5" height="167" hspace="4" src="http://newbusinessage.com/ckfinder/userfiles/Images/yahama.jpg" vspace="4" width="300" /></p>
<p>
	A total of 45 owners of YBR motorbikes participated in the event. Khusi Lal Thakuri won in the YBR 110 category with a mileage of 85 km per litre. Ratneshwor Yadav with 84 km per litre was the first runner-up. Similarly, Radheshyam Rajak won in the YBR 125 category with a mileage of 79 km per litre while Bijay Kumar Thakur was the runner up. Winners were declared on the basis of distance covered by the bikes in a minute. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages',
			'sortorder' => '456',
			'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) 9 => array(
		'Article' => array(
			'id' => '552',
			'article_category_id' => '34',
			'title' => 'Solar Electrification In Bhojpur Village',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT), a modern and environmentally clean source of electricity. The project was funded and implemented with assistance from the Government of India. Under the scheme, 155 houses have benefited. Each household has received a solar panel, maintenance free battery and home lighting system of 75 watts. The project cost Rs 7.39 million. Colonel Ajay Pasbola, Defence Attache with the Embassy of India in Nepal, formally inaugurated and handed over the project to Users Committee on 16 November. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT)',
			'sortorder' => '455',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '551',
			'article_category_id' => '34',
			'title' => 'NEPSE Begins Block Trading',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Stock Exchange (NEPSE) has started a special system for block trading from November 15. Trading of more than one per cent of the listed shares of a company is defined as ‘block trading’, according to NEPSE. For such trading, NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited by India’s hospitality industry major Oberoi Hotels to Nepal’s investment company Shivcream Land and Industries Company.</p>
<p>
	With this Oberoi has made final exit from Soaltee. With the new system, buyers and sellers of large quantity of shares of a company can negotiate the price outside the NEPSE and bring the deal to NEPSE for record purpose. Thus the parties to such deals can now pay the commission on the basis of the actual deal value. Earlier, as the deals were recorded by NEPSE on the current market price, the parties were forced to pay a high commission. </p>
<p>
	NEPSE hopes, this new system will make it easier for the large shareholders, such as foreign direct investors to exit from a company. According to Nepse, the Soaltee deal was signed between the parties on September 14 and the price agreed was Rs. 140 per share. The Face value of Soaltee’s shares is Rs. 10 per unit. The latest trading price of Soaltee’s shares before November 15 was Rs. 186. With the exit of Oberoi, Soaltee now has Holiday Inn International as the only foreign shareholder. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited',
			'sortorder' => '454',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '550',
			'article_category_id' => '34',
			'title' => 'NIBL Partners With Broadlink, Radius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network &amp; Communication Pvt Ltd which will allow NIBL customers to purchase Broadlink’s PINs through NIBL eBanking and ATMs.<img align="left" alt="" border="1" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/brodlink.jpg" style="width: 133px; height: 122px;" vspace="2" />The facility will cover both Wi-Fi service (Broadlink Wi-Fi) and Internet based telephone service (Broadtel) provided by Broadlink.<img align="right" alt="" border="3" height="70" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/investment.jpg" vspace="1" width="300" /></p>
<p>
	Similarly, the bank also integrated with Radius Communications enabling purchase of calling cards through ATMs and eBanking. Radius Communications has been providing IP Telephony service for the past one year through which international calls can be made at very economical rates. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network & Communication Pvt Ltd',
			'sortorder' => '453',
			'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) 12 => array(
		'Article' => array(
			'id' => '549',
			'article_category_id' => '34',
			'title' => 'Young Entrepreneurs Honoured',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="5" height="160" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/1st.jpg" vspace="2" width="300" /></p>
<p>
	Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17. Biswas Dhakal of E-Sewa, Hajuri Bista of Nawaras Pickles, Hari Bhakta Sharma of Deurali Janta Pharmaceuticals and Bhola Sharma who established a library in Parbat were felicitated during the programme.</p>
<p>
	Similarly, Maheshwor Shrestha of Everest Fashion, Nirajan Shrestha of Sujal Foods, Om Rajbhandari of Brihat Investments, and Shyam Kakshapati of Nanglo International were also honoured. Though GEW is celebrated for a week globally, in Nepal it was observed only for a day. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17',
			'sortorder' => '452',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '548',
			'article_category_id' => '34',
			'title' => 'NMB, BPKIHS Tie Up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital.</p>
<p>
	<img align="right" alt="" border="1" height="92" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/nmb.jpg" vspace="2" width="300" /></p>
<p>
	With this agreement, the bank can open bill counters to collect revenues on behalf of the hospital and facilitate a system to effectively manage the fund. The bank will also establish a separate banking counter to provide various banking services to the hospital’s staff, doctors, and medical students.  &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital',
			'sortorder' => '451',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '547',
			'article_category_id' => '34',
			'title' => 'Five-Year AML Strategy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The government has come up with a five-year strategy to fight money laundering and terroristfinancing. According to this Anti-Money Laundering (AML) strategy, legal provisions are being amended to allow the government authority to seize black money. It has also incorporated institutional and policy reforms detailing the activities and responsibilities of different government bodies.</p>
<p>
	This follows increasing pressure from the international community to make such law. Latest such pressure came a couple of weeks back from the meeting, of Financial Action Task Force (FATF) held in France. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government has come up with a five-year strategy',
			'sortorder' => '450',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
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			'Article' => array(
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)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '561',
			'article_category_id' => '34',
			'title' => 'IFIC To Buy 41 Per Cent Share In NB Bank',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB). After the deal is executed, IFIC’s stake in NBB will reach 51 per cent from the present 10 percent.</p>
<p>
	According to the details submitted to the Nepal Stock Exchange (NEPSE) by NBB, its existing shareholder IFIC has begun the process to buy 15 per cent promoter shares in NBB from Bank Asia, a Bangladeshi bank, and 26 per cent promoter shares from NB Group, the Nepali promoters of NBB.</p>
<p>
	IFIC has filed an application at the central bank of Bangladesh seeking approval of the deal. After receiving the approval from the Bangladesh central bank, IFIC has to seek an approval from Nepal’s central bank as well. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'International Finance Investment and Commerce Bank (IFIC) of Bangladesh is buying 41 stake in Nepal Bangladesh Bank (NBB).',
			'sortorder' => '464',
			'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) 1 => array(
		'Article' => array(
			'id' => '560',
			'article_category_id' => '34',
			'title' => 'NEA Signs PPA With Rasuwagadhi And Mid-Bhotekoshi',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company. The price under these PPAs is Rs 8.40 per unit in dry season and Rs 4.80 during wet seasons, according to Sher Singh Bhat, NEA’s Chief of Electricity Trading Department.</p>
<p>
	According to the agreement, both the projects are allowed price escalation of 3 per cent per annum up to eight times from the date of the start of commercial power production. While Rasuwagadhi project is estimated to cost Rs 13.68 billion it is Rs. 12.28 in Mid-Bhotekoshi. The cost will be financed by loans and share investment in 50/50 ratio. Employees Provident Fund has promised a loan of Rs 6.225 billion for Rasuwagadhi and Rs 6.21 billion for Mid-Bhotekoshi.</p>
<p>
	Similarly, in Rasuwagadhi and Mid-Bhotekoshi, Chilime will have share investment of 33 and 38 per cent respectively while NEA will have 18 and 10 per cent respectively. Employees Provident Fund Depositors will have 19.5 per cent share on both the projects.</p>
<p>
	Likewise, employees of Chilime will have 4.5 per cent shares while the people of the project-affected districts will have 10 per cent and other general public will have 15 per cent. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Electricity Authority (NEA) has signed power purchase agreement (PPA) with Rasuwagadhi (111 MW) and Mid-Bhotekoshi (102 MW) Hydropower projects promoted by Chilime Hydropower Company.',
			'sortorder' => '463',
			'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) 2 => array(
		'Article' => array(
			'id' => '559',
			'article_category_id' => '34',
			'title' => '18 Big Businesses Appeal Against IRD',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD). Such businesses include Jagadamba Steel, CGGC Chamelia (a contractor of Chamelia project), Arun Intercontinental, The Explore Nepal and Shakti Commercial Enterprises. </p>
<p>
	Well over Rs 630 million in state revenue is said to be evaded by these 18 business houses according to IRD which also claims that more than Rs 3 billion in taxes is evaded by 437 business houses. According to the law, a party not satisfied with the decision of the IRD can appeal at the revenue tribunal within 35 days by depositing 50 per cent of the penalty amount imposed by IRD. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Eighteen business houses accused of fake VAT bills have appealed at revenue tribunal against the Value Added Tax (VAT) assessment imposed on them by Inland Revenue Department (IRD).',
			'sortorder' => '462',
			'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' => '558',
			'article_category_id' => '34',
			'title' => 'Surya Nepal Asha Social Entrepreneurship Award',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="4" height="201" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/surya.jpg" vspace="1" width="300" /></p>
<p>
	The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants. Ram Sapkota (Mountain Delights Treks and Expedition and Tukee Nepal, Jyamrung), Sabita Maharjan (Kirtipur Hosiery, Kirtipur), Shyam Badan Yadav (Kalash Milk Industry, Dhorey Village, Parsa), Vijaya Develoment Resource Centre (VDRC, Nawalparasi) and Chhahari Services (Kathmandu) were awarded a cash prize of Rs 100,000 each by Surya Nepal Private Limited along with the opportunity of networking through ChangeFusion Nepal</p>
<p>
	. Surya Nepal Asha Social Entrepreneurship Award 2011 was sponsored by Surya Nepal Private Limited, organised by ChangeFusion Nepal and supported by NBI. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Surya Nepal Asha Social Entrepreneurship Award (SNASEA) has been presented to five social entrepreneurs selected after evaluating credentials of 66 applicants',
			'sortorder' => '461',
			'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) 4 => array(
		'Article' => array(
			'id' => '557',
			'article_category_id' => '34',
			'title' => '3 Big Industrial Infrastructure In Far West',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region. Among those is a special economic zone (SEZ) that will be set up in Kailali district. The other two will be in Kanchanpur district of which one is Far Western Industrial Estate and a dry port. Minister Jha said, the dry port will be in Dodhara-Chadani area. At a press meet on November 10, Jha promised to deploy a team of technician and specialists for detailed studies for these three projects. He also urged investors to look into opportunities in the far west.</p>
<p>
	The SEZ project has been under proposal for a number of years and the budget released by successive previous governments for this project has been freezing. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Minister for Industry Anil Kumar Jha has informed that the ministry is determined to set up three big industrial infrastructures in the far western region.',
			'sortorder' => '460',
			'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' => '556',
			'article_category_id' => '34',
			'title' => 'Heritage Carpet Coming',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December. The industry at Thankot, set up with Rs 200 million, is planning to produce quality carpets with the brand name Heritage. </p>
<p>
	According to Yubraj Dhakal, Director of the company, 95 per cent of factory set up has completed. The factory can produce 5-6,000 metres of carpet every day. Dhakal said that the carpets produced by the company will be of premium quality and price. So, the company is also planning to export it to India.</p>
<p>
	According to the company, more than 50 people will be getting direct employment while equal number of people will be getting indirect employment opportunities. Lately, the demand for good quality carpets is on the rise. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Heritage Flooring Carpet Industries Pvt Ltd is planning to start producing carpets from November/December.',
			'sortorder' => '459',
			'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' => '555',
			'article_category_id' => '34',
			'title' => 'Casino Nepal Under Malaysian Company',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza. The same company has been managing Casino Shangri- La as well. Bodh Bikram Pandey, Director of SM and Casino Shangri-La confirmed that an agreement has been signed between both the parties to manage the CN.</p>
<p>
	According to the agreement the number of workers at the CN will be reduced to 500 from the present 775. SM has agreed to provide Rs 160 million to pay salaries and allowances to retired workers as well as the outstanding salary to the retained workers. . </p>
<p>
	CN had remained closed for three months and it has to pay Rs 140 million as taxes to the government as of the end of the fiscal year 2010/11. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Malaysian company Star Management (SM) will be managing Casino Nepal (CN) that is located in the premises of Hotel Soaltee Crowne Plaza',
			'sortorder' => '458',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '554',
			'article_category_id' => '34',
			'title' => '50 Projects For Investment Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects. </p>
<p>
	The strategy is expected to attract large investors in the country during the investment year. According to Hemant Dawadi, Director General of FNCCI, the federation is preparing profiles of the projects. This is the first time that FNCCI is preparing such an extensive strategy paper for large projects. Dawadi said that the projects will be mainly in hydropower, tourism, education, health, agriculture, infrastructure development, cement and consumer goods.</p>
<p>
	Such profiles will include the investment opportunities in the respective field, the government policy for the same as well as the constraints in the realisation of the opportunities. According to Dawadi, once the projects are developed, investors will be searched in China, India, America and European countries by mobilising support from the business chambers in the respective countries. FNCCI says it has plan to set up an information centre with its own investment within three years. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Targeting the investment year 2012/13, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is planning to bring medium-term economic development strategy with 50 new projects.',
			'sortorder' => '457',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '553',
			'article_category_id' => '34',
			'title' => 'Yamaha YBR Mileage Challenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages, MAW Enterprises, the authorised distributor of Yamaha for Nepal, organised Yamaha YBR Mileage Challenge in Janakpur.</p>
<p>
	<img align="right" alt="" border="5" height="167" hspace="4" src="http://newbusinessage.com/ckfinder/userfiles/Images/yahama.jpg" vspace="4" width="300" /></p>
<p>
	A total of 45 owners of YBR motorbikes participated in the event. Khusi Lal Thakuri won in the YBR 110 category with a mileage of 85 km per litre. Ratneshwor Yadav with 84 km per litre was the first runner-up. Similarly, Radheshyam Rajak won in the YBR 125 category with a mileage of 79 km per litre while Bijay Kumar Thakur was the runner up. Winners were declared on the basis of distance covered by the bikes in a minute. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Aiming to make customers more aware about Yamaha YBR bikes and their respective mileages',
			'sortorder' => '456',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '552',
			'article_category_id' => '34',
			'title' => 'Solar Electrification In Bhojpur Village',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT), a modern and environmentally clean source of electricity. The project was funded and implemented with assistance from the Government of India. Under the scheme, 155 houses have benefited. Each household has received a solar panel, maintenance free battery and home lighting system of 75 watts. The project cost Rs 7.39 million. Colonel Ajay Pasbola, Defence Attache with the Embassy of India in Nepal, formally inaugurated and handed over the project to Users Committee on 16 November. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Helaucha village in Bhojpur district has started getting electricity using Solar Photo Voltaic Technology (SPVT)',
			'sortorder' => '455',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '551',
			'article_category_id' => '34',
			'title' => 'NEPSE Begins Block Trading',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Stock Exchange (NEPSE) has started a special system for block trading from November 15. Trading of more than one per cent of the listed shares of a company is defined as ‘block trading’, according to NEPSE. For such trading, NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited by India’s hospitality industry major Oberoi Hotels to Nepal’s investment company Shivcream Land and Industries Company.</p>
<p>
	With this Oberoi has made final exit from Soaltee. With the new system, buyers and sellers of large quantity of shares of a company can negotiate the price outside the NEPSE and bring the deal to NEPSE for record purpose. Thus the parties to such deals can now pay the commission on the basis of the actual deal value. Earlier, as the deals were recorded by NEPSE on the current market price, the parties were forced to pay a high commission. </p>
<p>
	NEPSE hopes, this new system will make it easier for the large shareholders, such as foreign direct investors to exit from a company. According to Nepse, the Soaltee deal was signed between the parties on September 14 and the price agreed was Rs. 140 per share. The Face value of Soaltee’s shares is Rs. 10 per unit. The latest trading price of Soaltee’s shares before November 15 was Rs. 186. With the exit of Oberoi, Soaltee now has Holiday Inn International as the only foreign shareholder. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NEPSE has introduced a separate window in its automated trading system. The first deal recorded in NEPSE under the new system was the sale of 1,020,144 units of shares in Hotel Soaltee Limited',
			'sortorder' => '454',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '550',
			'article_category_id' => '34',
			'title' => 'NIBL Partners With Broadlink, Radius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network &amp; Communication Pvt Ltd which will allow NIBL customers to purchase Broadlink’s PINs through NIBL eBanking and ATMs.<img align="left" alt="" border="1" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/brodlink.jpg" style="width: 133px; height: 122px;" vspace="2" />The facility will cover both Wi-Fi service (Broadlink Wi-Fi) and Internet based telephone service (Broadtel) provided by Broadlink.<img align="right" alt="" border="3" height="70" hspace="1" src="http://newbusinessage.com/ckfinder/userfiles/Images/investment.jpg" vspace="1" width="300" /></p>
<p>
	Similarly, the bank also integrated with Radius Communications enabling purchase of calling cards through ATMs and eBanking. Radius Communications has been providing IP Telephony service for the past one year through which international calls can be made at very economical rates. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Investment Bank Limited (NIBL) has tied up with Broadlink Network & Communication Pvt Ltd',
			'sortorder' => '453',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '549',
			'article_category_id' => '34',
			'title' => 'Young Entrepreneurs Honoured',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<img align="top" alt="" border="5" height="160" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/1st.jpg" vspace="2" width="300" /></p>
<p>
	Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17. Biswas Dhakal of E-Sewa, Hajuri Bista of Nawaras Pickles, Hari Bhakta Sharma of Deurali Janta Pharmaceuticals and Bhola Sharma who established a library in Parbat were felicitated during the programme.</p>
<p>
	Similarly, Maheshwor Shrestha of Everest Fashion, Nirajan Shrestha of Sujal Foods, Om Rajbhandari of Brihat Investments, and Shyam Kakshapati of Nanglo International were also honoured. Though GEW is celebrated for a week globally, in Nepal it was observed only for a day. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Samriddhi, The Prosperity Foundation honoured eight young entrepreneurs on the occasion of Global Entrepreneurship Week (GEW) on November 17',
			'sortorder' => '452',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '548',
			'article_category_id' => '34',
			'title' => 'NMB, BPKIHS Tie Up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital.</p>
<p>
	<img align="right" alt="" border="1" height="92" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/nmb.jpg" vspace="2" width="300" /></p>
<p>
	With this agreement, the bank can open bill counters to collect revenues on behalf of the hospital and facilitate a system to effectively manage the fund. The bank will also establish a separate banking counter to provide various banking services to the hospital’s staff, doctors, and medical students.  &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'NMB Bank Limited and BP Koirala Institute of Health Sciences (BPKIHS),Dharan have entered into an agreement under which the bank is to provide cash management service to the hospital',
			'sortorder' => '451',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '547',
			'article_category_id' => '34',
			'title' => 'Five-Year AML Strategy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	The government has come up with a five-year strategy to fight money laundering and terroristfinancing. According to this Anti-Money Laundering (AML) strategy, legal provisions are being amended to allow the government authority to seize black money. It has also incorporated institutional and policy reforms detailing the activities and responsibilities of different government bodies.</p>
<p>
	This follows increasing pressure from the international community to make such law. Latest such pressure came a couple of weeks back from the meeting, of Financial Action Task Force (FATF) held in France. &nbsp;</p>',
			'published' => true,
			'created' => '2012-02-22',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government has come up with a five-year strategy',
			'sortorder' => '450',
			'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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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
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Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117