Biznews

ADB Projects 3.8 Pc GDP Growth

Nov 30, -0001 0 2 minutes 52 seconds to read

…

Nuclear Physics & Space Tech Centres In The Offing

Nov 30, -0001 0 58 seconds to read

…

Bhansa Gas Hits The Market

Nov 30, -0001 0 1 minutes 23 seconds to read

…

Samsung Plans $ 700 M Investment In India

Nov 30, -0001 0 2 minutes 17 seconds to read

…

Trade Union, Ministry Reach Agreement

Nov 30, -0001 0 2 minutes 10 seconds to read

…

Committee For Rehabilitation Of Sick Industries

Nov 30, -0001 0 59 seconds to read

…

Credit Rating Regulations Early May

Nov 30, -0001 0 1 minutes 39 seconds to read

…

West Seti License Terminated

Nov 30, -0001 0 1 minutes 22 seconds to read

…

Basnet Elected NCC Chief

Nov 30, -0001 0 57 seconds to read

…

Ncell Upgrades To Next Generation Technology

Nov 30, -0001 0 49 seconds to read

…

Nepal, US Sign TIFA

Nov 30, -0001 0 1 minutes 50 seconds to read

…

SC Stays NRB Directives

Nov 30, -0001 0 37 seconds to read

…

New Leadership In FNCCI

Nov 30, -0001 0 44 seconds to read

…

Manufacturing Production Index Increases

Nov 30, -0001 0 1 minutes 5 seconds to read

…

Rs 1.5 Billion ADB Aid In Agriculture

Nov 30, -0001 0 35 seconds to read

…

< previous181920212223242526next >

No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '324',
			'article_category_id' => '34',
			'title' => 'ADB Projects 3.8 Pc GDP Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">A</span><span style="font-size: 9.5pt;">sian Development Bank (ADB) has projected Nepalâ€™s Gross Domestic Product (GDP) growth for the current fiscal year to remain at 3.8 per cent. This is less than the five years average of 4 per cent. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">According to ADBâ€™s Asian Development Outlook 2011,the main reasons for Nepalâ€™s slower economic growth are the deceleration in remittance inflow as well as commercial banksâ€™ excessive lending to real estate sector and reduced liquidity in the banking system that led to record high inter-bank borrowing rates. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Agriculture is expected to grow by 4 per cent in fiscal year 2011 which is 1.3 per cent higher than that of 2010. According to ADB, the growth is largely due to a weather-induced recovery in the output of key summer crops. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Outlook says, â€œThe tightening fiscal year 2011 monetary policy of Nepal Rastra Bank, the central bank, aimed at stabilising the real estate market, will further curtail services expansion, to 4.5 per cent growth in fiscal year 2011, down from 6 per cent in 2010.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">It further says, â€œA slowdown in construction activity and higher fuel costs will limit industryâ€™s growth to 1 per cent in 2011, compared with 3.3 per cent a year earlier.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However the GDP growth is expected to improve modestly to 4 per cent in fiscal year 2012 if the normal weather conditions persist. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;â€œA pickup in tourism related activities driven by Nepal Tourism Year 2011 campaign should raise services growth to 5.5 per cent,â€ ADB expects. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The ADB forecasted the growth of 1.5 per cent in construction activity after slight relaxation by NRB in its directives to the banks.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The average inflation is expected to be 10 per cent. High food and oil prices and domestic distortions like power cuts will continue to exert upward pressure on the prices, says the ADB. With likely moderation in Indian prices and the governmentâ€™s measures to prohibit transport syndicatesâ€™ restrictive practices, 8 per cent average inflation is expected in 2012, according to ADB. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '247',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '323',
			'article_category_id' => '34',
			'title' => 'Nuclear Physics & Space Tech Centres In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;">M</span>inistry of Science and Technology (MoST) of Nepal has begun exploring the possibility to set up centres for studies on nuclear physics, bio-technology and space technology. Spokesperson at the ministry, Mukunda Raj Prakash Ghimire, said that though Nepal is not in apposition right now to use such technology, a study is to commence soon to find future prospects.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	According to him, the proposed study will prepare a concept paper on the issues.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	The ministry has received eight proposals from the parties interested to carry out the studies. Nepal Academy of Science and Technology (NAST) and Tribhuvan Universityâ€™s Central Departments of Physics and Chemistry have submitted the proposal to carry out the study about the centre of nuclear technology while NAST and Central Department of Physics have submitted proposals for study about the space centre. Similalry, NAST, Biotechnology Association and an institution named â€˜Capsuleâ€™ have submitted a proposal for biotechnology centre.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '246',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '322',
			'article_category_id' => '34',
			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '245',
			'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' => '321',
			'article_category_id' => '34',
			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '244',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '243',
			'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' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '242',
			'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' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
			'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' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
			'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' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'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' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'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' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
			'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' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'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' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'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' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'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' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'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(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '324',
			'article_category_id' => '34',
			'title' => 'ADB Projects 3.8 Pc GDP Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">A</span><span style="font-size: 9.5pt;">sian Development Bank (ADB) has projected Nepalâ€™s Gross Domestic Product (GDP) growth for the current fiscal year to remain at 3.8 per cent. This is less than the five years average of 4 per cent. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">According to ADBâ€™s Asian Development Outlook 2011,the main reasons for Nepalâ€™s slower economic growth are the deceleration in remittance inflow as well as commercial banksâ€™ excessive lending to real estate sector and reduced liquidity in the banking system that led to record high inter-bank borrowing rates. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Agriculture is expected to grow by 4 per cent in fiscal year 2011 which is 1.3 per cent higher than that of 2010. According to ADB, the growth is largely due to a weather-induced recovery in the output of key summer crops. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Outlook says, â€œThe tightening fiscal year 2011 monetary policy of Nepal Rastra Bank, the central bank, aimed at stabilising the real estate market, will further curtail services expansion, to 4.5 per cent growth in fiscal year 2011, down from 6 per cent in 2010.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">It further says, â€œA slowdown in construction activity and higher fuel costs will limit industryâ€™s growth to 1 per cent in 2011, compared with 3.3 per cent a year earlier.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However the GDP growth is expected to improve modestly to 4 per cent in fiscal year 2012 if the normal weather conditions persist. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;â€œA pickup in tourism related activities driven by Nepal Tourism Year 2011 campaign should raise services growth to 5.5 per cent,â€ ADB expects. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The ADB forecasted the growth of 1.5 per cent in construction activity after slight relaxation by NRB in its directives to the banks.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The average inflation is expected to be 10 per cent. High food and oil prices and domestic distortions like power cuts will continue to exert upward pressure on the prices, says the ADB. With likely moderation in Indian prices and the governmentâ€™s measures to prohibit transport syndicatesâ€™ restrictive practices, 8 per cent average inflation is expected in 2012, according to ADB. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '247',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '323',
			'article_category_id' => '34',
			'title' => 'Nuclear Physics & Space Tech Centres In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;">M</span>inistry of Science and Technology (MoST) of Nepal has begun exploring the possibility to set up centres for studies on nuclear physics, bio-technology and space technology. Spokesperson at the ministry, Mukunda Raj Prakash Ghimire, said that though Nepal is not in apposition right now to use such technology, a study is to commence soon to find future prospects.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	According to him, the proposed study will prepare a concept paper on the issues.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	The ministry has received eight proposals from the parties interested to carry out the studies. Nepal Academy of Science and Technology (NAST) and Tribhuvan Universityâ€™s Central Departments of Physics and Chemistry have submitted the proposal to carry out the study about the centre of nuclear technology while NAST and Central Department of Physics have submitted proposals for study about the space centre. Similalry, NAST, Biotechnology Association and an institution named â€˜Capsuleâ€™ have submitted a proposal for biotechnology centre.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '246',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '322',
			'article_category_id' => '34',
			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '245',
			'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' => '321',
			'article_category_id' => '34',
			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '244',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '243',
			'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' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '242',
			'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' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
			'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' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
			'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' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'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' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'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' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
			'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' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'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' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'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' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'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' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'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
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

file not found!

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



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '324',
			'article_category_id' => '34',
			'title' => 'ADB Projects 3.8 Pc GDP Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">A</span><span style="font-size: 9.5pt;">sian Development Bank (ADB) has projected Nepalâ€™s Gross Domestic Product (GDP) growth for the current fiscal year to remain at 3.8 per cent. This is less than the five years average of 4 per cent. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">According to ADBâ€™s Asian Development Outlook 2011,the main reasons for Nepalâ€™s slower economic growth are the deceleration in remittance inflow as well as commercial banksâ€™ excessive lending to real estate sector and reduced liquidity in the banking system that led to record high inter-bank borrowing rates. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Agriculture is expected to grow by 4 per cent in fiscal year 2011 which is 1.3 per cent higher than that of 2010. According to ADB, the growth is largely due to a weather-induced recovery in the output of key summer crops. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Outlook says, â€œThe tightening fiscal year 2011 monetary policy of Nepal Rastra Bank, the central bank, aimed at stabilising the real estate market, will further curtail services expansion, to 4.5 per cent growth in fiscal year 2011, down from 6 per cent in 2010.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">It further says, â€œA slowdown in construction activity and higher fuel costs will limit industryâ€™s growth to 1 per cent in 2011, compared with 3.3 per cent a year earlier.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However the GDP growth is expected to improve modestly to 4 per cent in fiscal year 2012 if the normal weather conditions persist. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;â€œA pickup in tourism related activities driven by Nepal Tourism Year 2011 campaign should raise services growth to 5.5 per cent,â€ ADB expects. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The ADB forecasted the growth of 1.5 per cent in construction activity after slight relaxation by NRB in its directives to the banks.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The average inflation is expected to be 10 per cent. High food and oil prices and domestic distortions like power cuts will continue to exert upward pressure on the prices, says the ADB. With likely moderation in Indian prices and the governmentâ€™s measures to prohibit transport syndicatesâ€™ restrictive practices, 8 per cent average inflation is expected in 2012, according to ADB. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '247',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '323',
			'article_category_id' => '34',
			'title' => 'Nuclear Physics & Space Tech Centres In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;">M</span>inistry of Science and Technology (MoST) of Nepal has begun exploring the possibility to set up centres for studies on nuclear physics, bio-technology and space technology. Spokesperson at the ministry, Mukunda Raj Prakash Ghimire, said that though Nepal is not in apposition right now to use such technology, a study is to commence soon to find future prospects.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	According to him, the proposed study will prepare a concept paper on the issues.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	The ministry has received eight proposals from the parties interested to carry out the studies. Nepal Academy of Science and Technology (NAST) and Tribhuvan Universityâ€™s Central Departments of Physics and Chemistry have submitted the proposal to carry out the study about the centre of nuclear technology while NAST and Central Department of Physics have submitted proposals for study about the space centre. Similalry, NAST, Biotechnology Association and an institution named â€˜Capsuleâ€™ have submitted a proposal for biotechnology centre.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '246',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '322',
			'article_category_id' => '34',
			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '245',
			'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' => '321',
			'article_category_id' => '34',
			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '244',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '243',
			'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' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '242',
			'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' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
			'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' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
			'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' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'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' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'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' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
			'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' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'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' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'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' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'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' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'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(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '324',
			'article_category_id' => '34',
			'title' => 'ADB Projects 3.8 Pc GDP Growth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">A</span><span style="font-size: 9.5pt;">sian Development Bank (ADB) has projected Nepalâ€™s Gross Domestic Product (GDP) growth for the current fiscal year to remain at 3.8 per cent. This is less than the five years average of 4 per cent. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">According to ADBâ€™s Asian Development Outlook 2011,the main reasons for Nepalâ€™s slower economic growth are the deceleration in remittance inflow as well as commercial banksâ€™ excessive lending to real estate sector and reduced liquidity in the banking system that led to record high inter-bank borrowing rates. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Agriculture is expected to grow by 4 per cent in fiscal year 2011 which is 1.3 per cent higher than that of 2010. According to ADB, the growth is largely due to a weather-induced recovery in the output of key summer crops. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Outlook says, â€œThe tightening fiscal year 2011 monetary policy of Nepal Rastra Bank, the central bank, aimed at stabilising the real estate market, will further curtail services expansion, to 4.5 per cent growth in fiscal year 2011, down from 6 per cent in 2010.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">It further says, â€œA slowdown in construction activity and higher fuel costs will limit industryâ€™s growth to 1 per cent in 2011, compared with 3.3 per cent a year earlier.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However the GDP growth is expected to improve modestly to 4 per cent in fiscal year 2012 if the normal weather conditions persist. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">&nbsp;â€œA pickup in tourism related activities driven by Nepal Tourism Year 2011 campaign should raise services growth to 5.5 per cent,â€ ADB expects. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The ADB forecasted the growth of 1.5 per cent in construction activity after slight relaxation by NRB in its directives to the banks.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The average inflation is expected to be 10 per cent. High food and oil prices and domestic distortions like power cuts will continue to exert upward pressure on the prices, says the ADB. With likely moderation in Indian prices and the governmentâ€™s measures to prohibit transport syndicatesâ€™ restrictive practices, 8 per cent average inflation is expected in 2012, according to ADB. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '247',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '323',
			'article_category_id' => '34',
			'title' => 'Nuclear Physics & Space Tech Centres In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;">M</span>inistry of Science and Technology (MoST) of Nepal has begun exploring the possibility to set up centres for studies on nuclear physics, bio-technology and space technology. Spokesperson at the ministry, Mukunda Raj Prakash Ghimire, said that though Nepal is not in apposition right now to use such technology, a study is to commence soon to find future prospects.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	According to him, the proposed study will prepare a concept paper on the issues.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	The ministry has received eight proposals from the parties interested to carry out the studies. Nepal Academy of Science and Technology (NAST) and Tribhuvan Universityâ€™s Central Departments of Physics and Chemistry have submitted the proposal to carry out the study about the centre of nuclear technology while NAST and Central Department of Physics have submitted proposals for study about the space centre. Similalry, NAST, Biotechnology Association and an institution named â€˜Capsuleâ€™ have submitted a proposal for biotechnology centre.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '246',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '322',
			'article_category_id' => '34',
			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '245',
			'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' => '321',
			'article_category_id' => '34',
			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '244',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '243',
			'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' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '242',
			'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' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
			'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' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
			'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' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'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' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'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' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
			'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' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'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' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'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' => '294',
			'article_category_id' => '34',
			'title' => 'Manufacturing Production Index Increases',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).<br />
	Â </div>
<div style="text-align: justify;">
	In the same period, the Manufacturing Producersâ€™ Price Index increased 8.11 per cent, show the CBS data.<br />
	Â </div>
<div style="text-align: justify;">
	The highest increase in the production was in aluminium products (42 per cent) followed by rectified liquor and garment both of which increased over 34 per cent. The largest decline was in paper (other than newsprint) which registered a whopping reduction of ovr 64 per cent. That was followed by biscuits which declined over 51 percent. Among the other decliners were beer (17 per cent), soft drinks (26 per cent), sawn wood (24 per cent) and wire and cable (16 per cent).<br />
	<br />
	Â </div>
<div style="text-align: justify;">
	Among the goods in which the price increased, the highest was in the sawn wood (132 per cent) followed by lube oil (78 per cent),&nbsp;ply wood (73 per cent) and paper excluding newsprint (72 per cent).<br />
	Â </div>
<p style="text-align: justify;">
	Among the goods in which the producersâ€™ price decreased include iron rod and billets and plastic products (21 per cent) and soap and carton boxes (26 per cent each). </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Manufacturing Production Index in the first quarter of the current fiscal year increased by 1.23 per cent compared to the same period previous fiscal year, according to the data released recently by the Central Bureau of Statistics (CBS).',
			'sortorder' => '220',
			'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' => '293',
			'article_category_id' => '34',
			'title' => 'Rs 1.5 Billion ADB Aid In Agriculture',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	<img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img3.jpg" vspace="2" />Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.</div>
<p style="text-align: justify;">
	The project covers 10 districts in mid western and far western regions targeting to provide benefit to 18,700 households. The project targets to help farming in 7,500 hectares of land and produce 65,500 metric tonnes of products that is expected to be valued at US$ 301 million, according to the ADB. The project is expected to increase the income levels of the women.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Asian Development Bank (ADB) has signed an agreement with Nepal government to provide an assistance of Rs 1.447 billion to help small and medium sized farmers to enhance cash crops production under value chain concept.',
			'sortorder' => '219',
			'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
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

file not found!

Latest

173 People Die in Disaster Incidents since June 10

Crusher Federation Urges PM Oli for Industry Renewal

Prime Minister Calls for Enhancing 'Hello Sarkar' Service

Bardiya National Park Sees Increase in Tourist Arrivals

Experts, Manpower Agencies at Odds Over Draft of Labour Migration Policy

Lower Seti Hydropower Project Acquires o500 Ropanis of Land

Government Proposes Formation of New Authority to Regulate Cooperatives

Sugar Prices Surge ahead of Festive Season amid Govt’s Failure to Import Sugar

BFIN to Host Conference in Kathmandu on Wednesday

Price of Gold Reaches All-Time High in Nepal

FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00