Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'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/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
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		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	 </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	 </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. “We have not been able to supply enough to meet the growing demand,” he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	 </div>
<div style="text-align: justify;">
	“Though we have demand, there are no skilled labours to produce carpet,” he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	 </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporter’s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
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		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	 </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. “However with the increase in cost of fund, the returns have not increased as expected,” he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	 </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. “But along with the return, cost of fund has also increased which is not a good sign,” he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. “This would also increase the rate of interest in loans which will eventually affect investment and consumption,” he explained.<br />
	 </div>
<p style="text-align: justify;">
	According to the report, all banks’ average returns have increased. Compared to the second quarter of last fiscal year, bank’s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		'Article' => array(
			'id' => '289',
			'article_category_id' => '34',
			'title' => 'CG Launches Three Housing Projects',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub, a shopping mall at Bharatpur, Chitwan. “The total investment for these projects will be Rs 1.1 billion,” said Nirvana Chaudhary, the Managing director of the group.<br />
	 </div>
<div style="text-align: justify;">
	A statement from the group claims that the MVR III will have nine independent houses with design and architecture similar to that of MVR I and II. These houses would cost between Rs 15 million to Rs 20 million. Similarly, CG Hills at Hattigauda will have 60 stand-alone and row houses built in four to nine aanas of land, according to the statement. The houses in this project would cost from Rs 10 million to Rs 15 million.</div>
<p style="text-align: justify;">
	The Bharatpur Hub will be the first multiplex with shopping mall, food court and a three or four star hotel outside the Kathmandu Valley, the statement said.&nbsp;The multiplex will be constructed at an investment of Rs 550 million. “We will construct similar malls in Pokhara, Itahari and Butwal in the near future. The investment in each project will be at least Rs 500 million,” informed Chaudhary. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub......',
			'sortorder' => '215',
			'image' => null,
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			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '288',
			'article_category_id' => '34',
			'title' => 'Lower Modi Hydro 75 Per Cent Complete',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment. The project that began in 2007 is expected to complete by 2011 August.</div>
<p style="text-align: justify;">
	United Modi Hydropower Pvt Ltd has invested Rs 1.66 billion on the 10 Megawatts project. Upendra Gautam, the Director of the company said, “Construction of headworks, descending basin and canal is 75 per cent complete.” Gautam said if the political environment remains favourable, the project will be completed within the stipulated time period. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment.',
			'sortorder' => '214',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '287',
			'article_category_id' => '34',
			'title' => 'WB To Finance Kabeli-Damak Transmission Line',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction. Shyam Shrestha, the Chief of the project said at least US$ 5 million will be provided as aid while the remaining amount would be subsidised loan.<br />
	 </div>
<div style="text-align: justify;">
	The amount of aid and loan would be fixed during a meet on April 4, said Ram Chandra Pandey, General Manager of the Department of Transmission Line at Nepal Electricity Authority (NEA). Shrestha said the WB has agreed to provide the aid from its old fund.<br />
	 </div>
<div style="text-align: justify;">
	The NEA had started negotiation with the WB for four months ago to arrange the finance for the project. The WB has now agreed to finance the entire cost of the project.<br />
	 </div>
<div style="text-align: justify;">
	The transmission line will be of 132 Kilovolt and can transmit up to 150 Megawatts of electricity. it will begin near Kabeli A hydroelectricity project and end at Damak substation stretching some 90 kilometres.&nbsp;Shrestha said, “Though the line is near Kabeli A project, it is not solely for this project. It would connect to the national grid other hydroelectricity projects as well that are developed near Kabeli A site.”<br />
	 </div>
<p style="text-align: justify;">
	Acording to him, the construction of the project will be completed by 2014. He said the construction work at the Damak substation has already started and the works on the transmission line would begin after the coming rainy season.</p>
<p style="text-align: justify;">
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction.',
			'sortorder' => '213',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '286',
			'article_category_id' => '34',
			'title' => 'BoK Launches Kissan Banking Sewa',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels. This product aims at setting up a culture to save for the future among all communities and include them in the banking system, according to the bank. Ajaya Shrestha, the CEO of the bank said this new scheme has been introduced after receiving overwhelming response for some other products of the bank.<br />
	 </div>
<div style="text-align: justify;">
	According to the bank, this product will use the branches as the focal points and utilise technological solutions like mobile banking. The bank already has a mobile banking product branded M-PAISA. It says, “In order to ensure service accessibility to the target segment without any additional cost, all services available under M-PAISA are made free of charge.”<br />
	 </div>
<div style="text-align: justify;">
	According to a press statement released by the bank, the product is based on SHG (Self Help Group) model wherein people will organise themselves in a group of five members and participate in the programme.<br />
	 </div>
<div style="text-align: justify;">
	The group members can deposit certain amount in their individual accounts for a stipulated period. Once the standard criteria for the deposit volume are met, they will be eligible for the loan. The loan till a predefined limit will be provided upon the group’s guarantee without any collateral, the statement says.<br />
	 </div>
<div style="text-align: justify;">
	The bank claims that the product is the first of its kind from the commercial banks of Nepal. The bank expects such products would benefit Nepal’s agro-based economy. The strategy is expected to contribute positively to the rural development by instilling financial habits amongst the rural people.<br />
	 </div>
<p style="text-align: justify;">
	Jawalakhel and Sankhu branch are chosen as the first phase locations to serve as the central points of these products.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels.',
			'sortorder' => '212',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '285',
			'article_category_id' => '34',
			'title' => 'New Federation For Medium Sized Hotels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year. He said that as the existing association is limited to hotels in the Kathmandu Valley only, a need was felt go expand it to include all the hotels from across the country.<br />
	 </div>
<div style="text-align: justify;">
	He said there is a provision in the statute for forming a federation by including five districts and 11 associations. <br />
	 </div>
<div style="text-align: justify;">
	According to him a national meet would be organised within a month to prepare for the objective.<br />
	 </div>
<div style="text-align: justify;">
	The NHEA currently has seven hotel entrepreneurs associations from different places in Kathmandu and Nepal Guesthouse Entrepreneurs Association affiliated to it. There are around 3,500 medium and small hotels across the country including 1,400 in Kathmandu. Accoridng to the association there are around 300 unregistered medium sized hotels operating in Kathmandu alone.<br />
	 </div>
<p style="text-align: justify;">
	After the formation of the federation, the operational quality of the hotels is expected to get better. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year.',
			'sortorder' => '211',
			'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' => '284',
			'article_category_id' => '34',
			'title' => 'Supply & Use  Table Ready',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready. The SUT helps to examine what products and services are being produced and supplied in the country and how they are being used – in industries or in consumption.<br />
	 </div>
<div style="text-align: justify;">
	Such table would make the measurement of economic variables more realistic, according to Economist Prof Dr Madan Kumar Dahal.<br />
	 </div>
<div style="text-align: justify;">
	SUT also helps understand the effect of the change in one sector or sub-sector of the economy on the other sector or subsector. It also helps to adjust the differences in the Gross Domestic Product (GDP) figures calculated from different methods. GDP is calculated by adding up either the expenditure, income or production by all the members of the economy in a given period of time. The table also works as a base to prepare Symmetric Input-Output Table (SIOT) needed for national planning. According to CBS, it can also help in preparing Social Accounting Matrix (SAM). SIOT and SAM are not prepared in Nepal as of now.<br />
	 </div>
<div style="text-align: justify;">
	Aryal added that the SUT prepared now has 42 sectors of which 31 are the primary sectors and 11 are secondary sectors. Similarly, goods and services are categorised in 52 primary headings which are subdivided into hundreds of secondary headings.<br />
	 </div>
<div style="text-align: justify;">
	Aryal said SUT would be ready only when the total of supply and use is the same in all the 42 sectors of all 52 goods and services. “This is the most challenging part of preparing SUT and we have succeeded in that,” he added. Fiscal year 2004-05 is taken as the base year to prepare the SUT, Aryal informed.<br />
	 </div>
<p style="text-align: justify;">
	Asian Development Bank provided technical support for the SUT preparation which was completed entirely by Nepali human resource. Aryal said that it would be better if such tables can be prepared every five years.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '2011-04-28',
			'keywords' => '',
			'description' => 'The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready.',
			'sortorder' => '210',
			'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' => '283',
			'article_category_id' => '34',
			'title' => 'Shrestha Nominated CACCI Executive Committee Member',
			'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/img1.jpg" style="width: 242px; height: 265px;" vspace="2" />A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March. Pradeep Kumar Shrestha, Former President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led the 11-member business delegation at the conference.<br />
	 </div>
<div style="text-align: justify;">
	CACCI President Amb Benedicto Yujuico nominated three Executive Committee Members including Shrestha from Nepal and two others from Iran and Turkey. More than 400 delegates from 27 Asia Pacific countries attended the conference.<br />
	 </div>
<p style="text-align: justify;">
	A session on ‘Innovative and Leading-Edge Approaches to Sustainable Use of Resources’ was chaired by Shrestha during the conference.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March.',
			'sortorder' => '209',
			'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' => '282',
			'article_category_id' => '34',
			'title' => 'Banking Offences Continue Unabated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation. The authorities concerned accept that banking offences have not declined despite the provisions in the law aimed to control them. Due to the failure in the implementation of this law, cases like cheque bouncing, fraud and overvaluation of collaterals have continued unabated.<br />
	 </div>
<div style="text-align: justify;">
	Bhaskar Mani Gyanwali, the Spokesperson at Nepal Rastra Bank (NRB) accepted that the banking offences have not been controlled and argued that this is because very few people know about the legal provisions. Giving example of the cheque bounce, Gnyawali said though the law has provisions for penalty, imprisonment and black listing of the account holder who issues such cheques and almost all banks have been experiencing cases of cheque bounce, nobody has filed a legal complaint, said Gyanwali.<br />
	 </div>
<div style="text-align: justify;">
	In case of bounced cheque, Banking Offence and Punishment&nbsp;Act 2008 has a provision of penalty up to the amount of the cheque, confiscation of the money in the account of the issuer of such cheque and imprisonment of one to five years depending on the amount of the cheque.<br />
	 </div>
<p style="text-align: justify;">
	Other prevailing major banking offences in Nepal are opening new accounts without accountholder’s details, over valuation of collateral when granting loan and misuse of loans. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation.',
			'sortorder' => '208',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '281',
			'article_category_id' => '34',
			'title' => 'Bird Tourism  To Lure Tourists',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development. The package proposed by the association has also been taken positively by the Ministry of Tourism and Civil Aviation.<br />
	 </div>
<div style="text-align: justify;">
	There are 868 species of birds identified in Nepal. The association has declared 27 regions including Koshi Tappu, Annapurna, Chitwan, Bardia and Shuklaphanta as the areas for bird watching. Each of these regions provide habitat to between 400 and 500 bird species.<br />
	 </div>
<div style="text-align: justify;">
	Gurung added that Rs 300,000 has already been disbursed to introduce the package. Gurung claimed that as bird watchers are rich and high-end tourists, this package would help attract them to Nepal.<br />
	 </div>
<p style="text-align: justify;">
	He also informed that 15 per cent of the income generated from the package would be used for the protection of birds. Currently, only one percent of tourists coming to Nepal go bird watching. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development.',
			'sortorder' => '207',
			'image' => null,
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			'main_news' => false,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '280',
			'article_category_id' => '34',
			'title' => 'Government Plans New Land Acquisition Act',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.<br />
	 </div>
<div style="text-align: justify;">
	The major points to be changed are related to the compensation and environmental management. The Ministry of Finance (MoF) has already held discussions with the authorities and ministries concerned. Finance Secretary Rameshwor Khanal said, “A new act is being formulated as there were difficulties in acquiring land for development projects under the existing one.”<br />
	 </div>
<div style="text-align: justify;">
	The Ministry of Law and Justice (MLJ) and Nepal Law Commission (NLC) have started reforming the law.<br />
	 </div>
<div style="text-align: justify;">
	Khanal added, “If such issues are not addressed timely, we will be unable to commence any project.”<br />
	 </div>
<p style="text-align: justify;">
	Ramesh Dhakal, a Joint Secretary at NLC said the new act would ensure easy and simple procedure for land acquisition. “It would also ensure the right amount of compensation,” he added. There is no provision of the compensation in the existing act. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.',
			'sortorder' => '206',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	(int) 13 => array(
		'Article' => array(
			'id' => '279',
			'article_category_id' => '34',
			'title' => 'Industries To Dodge Power Woes',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.<br />
	 </div>
<div style="text-align: justify;">
	According to Ananta Ram Rathi, the owner of Arbind Paper Mills,&nbsp;installation of the boiler for storing the steam has already started. The next step is to set up pressure turbines.<br />
	 </div>
<div style="text-align: justify;">
	According to Rathi, the boiler was installed for Rs 20 million while the turbine would cost around Rs 10 million. Rathi expects to meet 80 per cent of the power required by the mill to be supplied by this project. Currently the mill is paying Rs 1.8 million as electricity charge every month. “After the installation of the powerhouse, we can save up to Rs 10.75 million annually. More importantly, we hope that we can operate our factory throughout the year.” he said.<br />
	 </div>
<div style="text-align: justify;">
	Rathi said the steam generated in the factory can produce 500 Kilowatts of electricity.<br />
	 </div>
<div style="text-align: justify;">
	Similarly, Baba Paper Mills is conducting a study to install similar equipment.<br />
	 </div>
<div style="text-align: justify;">
	Meanwhile the companies are exploring ways to minimise the environmental damage caused by burning the husk which is used as the fuel in the boiler. <br />
	 </div>
<p style="text-align: justify;">
	Eastern Sugar Mill has been using this technology since the very beginning of the mill’s operation. It produces three megawatts of electricity. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.',
			'sortorder' => '205',
			'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' => '278',
			'article_category_id' => '34',
			'title' => 'Central Business Park In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five <i>ropanies</i> of land, the park will have a 10-storey air-conditioned building with amenities of global standard. The project is being promoted by Clean Developers Group and managed by Clean Energy Development Bank. The building will be very suitable for corporate offices, according to the promoters.&nbsp;&nbsp;</div>
<p style="text-align: justify;">
	The construction of the park is planned to be completed within 18 months. This is the second venture of the group after the success of Central Park Housing in Bishalnagar. The park is expected to address all problems related to space, power-cut, parking and security being faced by Nepal’s corporate world. Speaking at the programme, Sanjay Ladsaria, Executive Director of Clean Developers said, “The park will be useful for banks, insurance companies and other corporate offices.” The project is registered with US Green Building Council for LEED certification and is expected to save energy and water consumption.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five ropanies of land, the park will have a 10-storey air-conditioned building with amenities of global standard.',
			'sortorder' => '204',
			'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
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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)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'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/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 1 => array(
		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	 </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	 </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. “We have not been able to supply enough to meet the growing demand,” he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	 </div>
<div style="text-align: justify;">
	“Though we have demand, there are no skilled labours to produce carpet,” he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	 </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporter’s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	(int) 2 => array(
		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	 </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. “However with the increase in cost of fund, the returns have not increased as expected,” he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	 </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. “But along with the return, cost of fund has also increased which is not a good sign,” he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. “This would also increase the rate of interest in loans which will eventually affect investment and consumption,” he explained.<br />
	 </div>
<p style="text-align: justify;">
	According to the report, all banks’ average returns have increased. Compared to the second quarter of last fiscal year, bank’s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'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' => '289',
			'article_category_id' => '34',
			'title' => 'CG Launches Three Housing Projects',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub, a shopping mall at Bharatpur, Chitwan. “The total investment for these projects will be Rs 1.1 billion,” said Nirvana Chaudhary, the Managing director of the group.<br />
	 </div>
<div style="text-align: justify;">
	A statement from the group claims that the MVR III will have nine independent houses with design and architecture similar to that of MVR I and II. These houses would cost between Rs 15 million to Rs 20 million. Similarly, CG Hills at Hattigauda will have 60 stand-alone and row houses built in four to nine aanas of land, according to the statement. The houses in this project would cost from Rs 10 million to Rs 15 million.</div>
<p style="text-align: justify;">
	The Bharatpur Hub will be the first multiplex with shopping mall, food court and a three or four star hotel outside the Kathmandu Valley, the statement said.&nbsp;The multiplex will be constructed at an investment of Rs 550 million. “We will construct similar malls in Pokhara, Itahari and Butwal in the near future. The investment in each project will be at least Rs 500 million,” informed Chaudhary. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub......',
			'sortorder' => '215',
			'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' => '288',
			'article_category_id' => '34',
			'title' => 'Lower Modi Hydro 75 Per Cent Complete',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment. The project that began in 2007 is expected to complete by 2011 August.</div>
<p style="text-align: justify;">
	United Modi Hydropower Pvt Ltd has invested Rs 1.66 billion on the 10 Megawatts project. Upendra Gautam, the Director of the company said, “Construction of headworks, descending basin and canal is 75 per cent complete.” Gautam said if the political environment remains favourable, the project will be completed within the stipulated time period. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment.',
			'sortorder' => '214',
			'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' => '287',
			'article_category_id' => '34',
			'title' => 'WB To Finance Kabeli-Damak Transmission Line',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction. Shyam Shrestha, the Chief of the project said at least US$ 5 million will be provided as aid while the remaining amount would be subsidised loan.<br />
	 </div>
<div style="text-align: justify;">
	The amount of aid and loan would be fixed during a meet on April 4, said Ram Chandra Pandey, General Manager of the Department of Transmission Line at Nepal Electricity Authority (NEA). Shrestha said the WB has agreed to provide the aid from its old fund.<br />
	 </div>
<div style="text-align: justify;">
	The NEA had started negotiation with the WB for four months ago to arrange the finance for the project. The WB has now agreed to finance the entire cost of the project.<br />
	 </div>
<div style="text-align: justify;">
	The transmission line will be of 132 Kilovolt and can transmit up to 150 Megawatts of electricity. it will begin near Kabeli A hydroelectricity project and end at Damak substation stretching some 90 kilometres.&nbsp;Shrestha said, “Though the line is near Kabeli A project, it is not solely for this project. It would connect to the national grid other hydroelectricity projects as well that are developed near Kabeli A site.”<br />
	 </div>
<p style="text-align: justify;">
	Acording to him, the construction of the project will be completed by 2014. He said the construction work at the Damak substation has already started and the works on the transmission line would begin after the coming rainy season.</p>
<p style="text-align: justify;">
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction.',
			'sortorder' => '213',
			'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' => '286',
			'article_category_id' => '34',
			'title' => 'BoK Launches Kissan Banking Sewa',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels. This product aims at setting up a culture to save for the future among all communities and include them in the banking system, according to the bank. Ajaya Shrestha, the CEO of the bank said this new scheme has been introduced after receiving overwhelming response for some other products of the bank.<br />
	 </div>
<div style="text-align: justify;">
	According to the bank, this product will use the branches as the focal points and utilise technological solutions like mobile banking. The bank already has a mobile banking product branded M-PAISA. It says, “In order to ensure service accessibility to the target segment without any additional cost, all services available under M-PAISA are made free of charge.”<br />
	 </div>
<div style="text-align: justify;">
	According to a press statement released by the bank, the product is based on SHG (Self Help Group) model wherein people will organise themselves in a group of five members and participate in the programme.<br />
	 </div>
<div style="text-align: justify;">
	The group members can deposit certain amount in their individual accounts for a stipulated period. Once the standard criteria for the deposit volume are met, they will be eligible for the loan. The loan till a predefined limit will be provided upon the group’s guarantee without any collateral, the statement says.<br />
	 </div>
<div style="text-align: justify;">
	The bank claims that the product is the first of its kind from the commercial banks of Nepal. The bank expects such products would benefit Nepal’s agro-based economy. The strategy is expected to contribute positively to the rural development by instilling financial habits amongst the rural people.<br />
	 </div>
<p style="text-align: justify;">
	Jawalakhel and Sankhu branch are chosen as the first phase locations to serve as the central points of these products.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels.',
			'sortorder' => '212',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '285',
			'article_category_id' => '34',
			'title' => 'New Federation For Medium Sized Hotels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year. He said that as the existing association is limited to hotels in the Kathmandu Valley only, a need was felt go expand it to include all the hotels from across the country.<br />
	 </div>
<div style="text-align: justify;">
	He said there is a provision in the statute for forming a federation by including five districts and 11 associations. <br />
	 </div>
<div style="text-align: justify;">
	According to him a national meet would be organised within a month to prepare for the objective.<br />
	 </div>
<div style="text-align: justify;">
	The NHEA currently has seven hotel entrepreneurs associations from different places in Kathmandu and Nepal Guesthouse Entrepreneurs Association affiliated to it. There are around 3,500 medium and small hotels across the country including 1,400 in Kathmandu. Accoridng to the association there are around 300 unregistered medium sized hotels operating in Kathmandu alone.<br />
	 </div>
<p style="text-align: justify;">
	After the formation of the federation, the operational quality of the hotels is expected to get better. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year.',
			'sortorder' => '211',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '284',
			'article_category_id' => '34',
			'title' => 'Supply & Use  Table Ready',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready. The SUT helps to examine what products and services are being produced and supplied in the country and how they are being used – in industries or in consumption.<br />
	 </div>
<div style="text-align: justify;">
	Such table would make the measurement of economic variables more realistic, according to Economist Prof Dr Madan Kumar Dahal.<br />
	 </div>
<div style="text-align: justify;">
	SUT also helps understand the effect of the change in one sector or sub-sector of the economy on the other sector or subsector. It also helps to adjust the differences in the Gross Domestic Product (GDP) figures calculated from different methods. GDP is calculated by adding up either the expenditure, income or production by all the members of the economy in a given period of time. The table also works as a base to prepare Symmetric Input-Output Table (SIOT) needed for national planning. According to CBS, it can also help in preparing Social Accounting Matrix (SAM). SIOT and SAM are not prepared in Nepal as of now.<br />
	 </div>
<div style="text-align: justify;">
	Aryal added that the SUT prepared now has 42 sectors of which 31 are the primary sectors and 11 are secondary sectors. Similarly, goods and services are categorised in 52 primary headings which are subdivided into hundreds of secondary headings.<br />
	 </div>
<div style="text-align: justify;">
	Aryal said SUT would be ready only when the total of supply and use is the same in all the 42 sectors of all 52 goods and services. “This is the most challenging part of preparing SUT and we have succeeded in that,” he added. Fiscal year 2004-05 is taken as the base year to prepare the SUT, Aryal informed.<br />
	 </div>
<p style="text-align: justify;">
	Asian Development Bank provided technical support for the SUT preparation which was completed entirely by Nepali human resource. Aryal said that it would be better if such tables can be prepared every five years.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '2011-04-28',
			'keywords' => '',
			'description' => 'The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready.',
			'sortorder' => '210',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '283',
			'article_category_id' => '34',
			'title' => 'Shrestha Nominated CACCI Executive Committee Member',
			'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/img1.jpg" style="width: 242px; height: 265px;" vspace="2" />A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March. Pradeep Kumar Shrestha, Former President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led the 11-member business delegation at the conference.<br />
	 </div>
<div style="text-align: justify;">
	CACCI President Amb Benedicto Yujuico nominated three Executive Committee Members including Shrestha from Nepal and two others from Iran and Turkey. More than 400 delegates from 27 Asia Pacific countries attended the conference.<br />
	 </div>
<p style="text-align: justify;">
	A session on ‘Innovative and Leading-Edge Approaches to Sustainable Use of Resources’ was chaired by Shrestha during the conference.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March.',
			'sortorder' => '209',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '282',
			'article_category_id' => '34',
			'title' => 'Banking Offences Continue Unabated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation. The authorities concerned accept that banking offences have not declined despite the provisions in the law aimed to control them. Due to the failure in the implementation of this law, cases like cheque bouncing, fraud and overvaluation of collaterals have continued unabated.<br />
	 </div>
<div style="text-align: justify;">
	Bhaskar Mani Gyanwali, the Spokesperson at Nepal Rastra Bank (NRB) accepted that the banking offences have not been controlled and argued that this is because very few people know about the legal provisions. Giving example of the cheque bounce, Gnyawali said though the law has provisions for penalty, imprisonment and black listing of the account holder who issues such cheques and almost all banks have been experiencing cases of cheque bounce, nobody has filed a legal complaint, said Gyanwali.<br />
	 </div>
<div style="text-align: justify;">
	In case of bounced cheque, Banking Offence and Punishment&nbsp;Act 2008 has a provision of penalty up to the amount of the cheque, confiscation of the money in the account of the issuer of such cheque and imprisonment of one to five years depending on the amount of the cheque.<br />
	 </div>
<p style="text-align: justify;">
	Other prevailing major banking offences in Nepal are opening new accounts without accountholder’s details, over valuation of collateral when granting loan and misuse of loans. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation.',
			'sortorder' => '208',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '281',
			'article_category_id' => '34',
			'title' => 'Bird Tourism  To Lure Tourists',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development. The package proposed by the association has also been taken positively by the Ministry of Tourism and Civil Aviation.<br />
	 </div>
<div style="text-align: justify;">
	There are 868 species of birds identified in Nepal. The association has declared 27 regions including Koshi Tappu, Annapurna, Chitwan, Bardia and Shuklaphanta as the areas for bird watching. Each of these regions provide habitat to between 400 and 500 bird species.<br />
	 </div>
<div style="text-align: justify;">
	Gurung added that Rs 300,000 has already been disbursed to introduce the package. Gurung claimed that as bird watchers are rich and high-end tourists, this package would help attract them to Nepal.<br />
	 </div>
<p style="text-align: justify;">
	He also informed that 15 per cent of the income generated from the package would be used for the protection of birds. Currently, only one percent of tourists coming to Nepal go bird watching. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development.',
			'sortorder' => '207',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	),
	(int) 12 => array(
		'Article' => array(
			'id' => '280',
			'article_category_id' => '34',
			'title' => 'Government Plans New Land Acquisition Act',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.<br />
	 </div>
<div style="text-align: justify;">
	The major points to be changed are related to the compensation and environmental management. The Ministry of Finance (MoF) has already held discussions with the authorities and ministries concerned. Finance Secretary Rameshwor Khanal said, “A new act is being formulated as there were difficulties in acquiring land for development projects under the existing one.”<br />
	 </div>
<div style="text-align: justify;">
	The Ministry of Law and Justice (MLJ) and Nepal Law Commission (NLC) have started reforming the law.<br />
	 </div>
<div style="text-align: justify;">
	Khanal added, “If such issues are not addressed timely, we will be unable to commence any project.”<br />
	 </div>
<p style="text-align: justify;">
	Ramesh Dhakal, a Joint Secretary at NLC said the new act would ensure easy and simple procedure for land acquisition. “It would also ensure the right amount of compensation,” he added. There is no provision of the compensation in the existing act. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.',
			'sortorder' => '206',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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	(int) 13 => array(
		'Article' => array(
			'id' => '279',
			'article_category_id' => '34',
			'title' => 'Industries To Dodge Power Woes',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.<br />
	 </div>
<div style="text-align: justify;">
	According to Ananta Ram Rathi, the owner of Arbind Paper Mills,&nbsp;installation of the boiler for storing the steam has already started. The next step is to set up pressure turbines.<br />
	 </div>
<div style="text-align: justify;">
	According to Rathi, the boiler was installed for Rs 20 million while the turbine would cost around Rs 10 million. Rathi expects to meet 80 per cent of the power required by the mill to be supplied by this project. Currently the mill is paying Rs 1.8 million as electricity charge every month. “After the installation of the powerhouse, we can save up to Rs 10.75 million annually. More importantly, we hope that we can operate our factory throughout the year.” he said.<br />
	 </div>
<div style="text-align: justify;">
	Rathi said the steam generated in the factory can produce 500 Kilowatts of electricity.<br />
	 </div>
<div style="text-align: justify;">
	Similarly, Baba Paper Mills is conducting a study to install similar equipment.<br />
	 </div>
<div style="text-align: justify;">
	Meanwhile the companies are exploring ways to minimise the environmental damage caused by burning the husk which is used as the fuel in the boiler. <br />
	 </div>
<p style="text-align: justify;">
	Eastern Sugar Mill has been using this technology since the very beginning of the mill’s operation. It produces three megawatts of electricity. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.',
			'sortorder' => '205',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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			'main_news' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '278',
			'article_category_id' => '34',
			'title' => 'Central Business Park In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five <i>ropanies</i> of land, the park will have a 10-storey air-conditioned building with amenities of global standard. The project is being promoted by Clean Developers Group and managed by Clean Energy Development Bank. The building will be very suitable for corporate offices, according to the promoters.&nbsp;&nbsp;</div>
<p style="text-align: justify;">
	The construction of the park is planned to be completed within 18 months. This is the second venture of the group after the success of Central Park Housing in Bishalnagar. The park is expected to address all problems related to space, power-cut, parking and security being faced by Nepal’s corporate world. Speaking at the programme, Sanjay Ladsaria, Executive Director of Clean Developers said, “The park will be useful for banks, insurance companies and other corporate offices.” The project is registered with US Green Building Council for LEED certification and is expected to save energy and water consumption.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five ropanies of land, the park will have a 10-storey air-conditioned building with amenities of global standard.',
			'sortorder' => '204',
			'image' => null,
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View::_evaluate() - CORE/Cake/View/View.php, line 971
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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
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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'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/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
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		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	 </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	 </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. “We have not been able to supply enough to meet the growing demand,” he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	 </div>
<div style="text-align: justify;">
	“Though we have demand, there are no skilled labours to produce carpet,” he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	 </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporter’s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	 </p>',
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			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
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			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	 </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. “However with the increase in cost of fund, the returns have not increased as expected,” he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	 </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. “But along with the return, cost of fund has also increased which is not a good sign,” he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. “This would also increase the rate of interest in loans which will eventually affect investment and consumption,” he explained.<br />
	 </div>
<p style="text-align: justify;">
	According to the report, all banks’ average returns have increased. Compared to the second quarter of last fiscal year, bank’s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'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' => '289',
			'article_category_id' => '34',
			'title' => 'CG Launches Three Housing Projects',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub, a shopping mall at Bharatpur, Chitwan. “The total investment for these projects will be Rs 1.1 billion,” said Nirvana Chaudhary, the Managing director of the group.<br />
	 </div>
<div style="text-align: justify;">
	A statement from the group claims that the MVR III will have nine independent houses with design and architecture similar to that of MVR I and II. These houses would cost between Rs 15 million to Rs 20 million. Similarly, CG Hills at Hattigauda will have 60 stand-alone and row houses built in four to nine aanas of land, according to the statement. The houses in this project would cost from Rs 10 million to Rs 15 million.</div>
<p style="text-align: justify;">
	The Bharatpur Hub will be the first multiplex with shopping mall, food court and a three or four star hotel outside the Kathmandu Valley, the statement said.&nbsp;The multiplex will be constructed at an investment of Rs 550 million. “We will construct similar malls in Pokhara, Itahari and Butwal in the near future. The investment in each project will be at least Rs 500 million,” informed Chaudhary. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub......',
			'sortorder' => '215',
			'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' => '288',
			'article_category_id' => '34',
			'title' => 'Lower Modi Hydro 75 Per Cent Complete',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment. The project that began in 2007 is expected to complete by 2011 August.</div>
<p style="text-align: justify;">
	United Modi Hydropower Pvt Ltd has invested Rs 1.66 billion on the 10 Megawatts project. Upendra Gautam, the Director of the company said, “Construction of headworks, descending basin and canal is 75 per cent complete.” Gautam said if the political environment remains favourable, the project will be completed within the stipulated time period. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment.',
			'sortorder' => '214',
			'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' => '287',
			'article_category_id' => '34',
			'title' => 'WB To Finance Kabeli-Damak Transmission Line',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction. Shyam Shrestha, the Chief of the project said at least US$ 5 million will be provided as aid while the remaining amount would be subsidised loan.<br />
	 </div>
<div style="text-align: justify;">
	The amount of aid and loan would be fixed during a meet on April 4, said Ram Chandra Pandey, General Manager of the Department of Transmission Line at Nepal Electricity Authority (NEA). Shrestha said the WB has agreed to provide the aid from its old fund.<br />
	 </div>
<div style="text-align: justify;">
	The NEA had started negotiation with the WB for four months ago to arrange the finance for the project. The WB has now agreed to finance the entire cost of the project.<br />
	 </div>
<div style="text-align: justify;">
	The transmission line will be of 132 Kilovolt and can transmit up to 150 Megawatts of electricity. it will begin near Kabeli A hydroelectricity project and end at Damak substation stretching some 90 kilometres.&nbsp;Shrestha said, “Though the line is near Kabeli A project, it is not solely for this project. It would connect to the national grid other hydroelectricity projects as well that are developed near Kabeli A site.”<br />
	 </div>
<p style="text-align: justify;">
	Acording to him, the construction of the project will be completed by 2014. He said the construction work at the Damak substation has already started and the works on the transmission line would begin after the coming rainy season.</p>
<p style="text-align: justify;">
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction.',
			'sortorder' => '213',
			'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' => '286',
			'article_category_id' => '34',
			'title' => 'BoK Launches Kissan Banking Sewa',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels. This product aims at setting up a culture to save for the future among all communities and include them in the banking system, according to the bank. Ajaya Shrestha, the CEO of the bank said this new scheme has been introduced after receiving overwhelming response for some other products of the bank.<br />
	 </div>
<div style="text-align: justify;">
	According to the bank, this product will use the branches as the focal points and utilise technological solutions like mobile banking. The bank already has a mobile banking product branded M-PAISA. It says, “In order to ensure service accessibility to the target segment without any additional cost, all services available under M-PAISA are made free of charge.”<br />
	 </div>
<div style="text-align: justify;">
	According to a press statement released by the bank, the product is based on SHG (Self Help Group) model wherein people will organise themselves in a group of five members and participate in the programme.<br />
	 </div>
<div style="text-align: justify;">
	The group members can deposit certain amount in their individual accounts for a stipulated period. Once the standard criteria for the deposit volume are met, they will be eligible for the loan. The loan till a predefined limit will be provided upon the group’s guarantee without any collateral, the statement says.<br />
	 </div>
<div style="text-align: justify;">
	The bank claims that the product is the first of its kind from the commercial banks of Nepal. The bank expects such products would benefit Nepal’s agro-based economy. The strategy is expected to contribute positively to the rural development by instilling financial habits amongst the rural people.<br />
	 </div>
<p style="text-align: justify;">
	Jawalakhel and Sankhu branch are chosen as the first phase locations to serve as the central points of these products.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels.',
			'sortorder' => '212',
			'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' => '285',
			'article_category_id' => '34',
			'title' => 'New Federation For Medium Sized Hotels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year. He said that as the existing association is limited to hotels in the Kathmandu Valley only, a need was felt go expand it to include all the hotels from across the country.<br />
	 </div>
<div style="text-align: justify;">
	He said there is a provision in the statute for forming a federation by including five districts and 11 associations. <br />
	 </div>
<div style="text-align: justify;">
	According to him a national meet would be organised within a month to prepare for the objective.<br />
	 </div>
<div style="text-align: justify;">
	The NHEA currently has seven hotel entrepreneurs associations from different places in Kathmandu and Nepal Guesthouse Entrepreneurs Association affiliated to it. There are around 3,500 medium and small hotels across the country including 1,400 in Kathmandu. Accoridng to the association there are around 300 unregistered medium sized hotels operating in Kathmandu alone.<br />
	 </div>
<p style="text-align: justify;">
	After the formation of the federation, the operational quality of the hotels is expected to get better. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year.',
			'sortorder' => '211',
			'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' => '284',
			'article_category_id' => '34',
			'title' => 'Supply & Use  Table Ready',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready. The SUT helps to examine what products and services are being produced and supplied in the country and how they are being used – in industries or in consumption.<br />
	 </div>
<div style="text-align: justify;">
	Such table would make the measurement of economic variables more realistic, according to Economist Prof Dr Madan Kumar Dahal.<br />
	 </div>
<div style="text-align: justify;">
	SUT also helps understand the effect of the change in one sector or sub-sector of the economy on the other sector or subsector. It also helps to adjust the differences in the Gross Domestic Product (GDP) figures calculated from different methods. GDP is calculated by adding up either the expenditure, income or production by all the members of the economy in a given period of time. The table also works as a base to prepare Symmetric Input-Output Table (SIOT) needed for national planning. According to CBS, it can also help in preparing Social Accounting Matrix (SAM). SIOT and SAM are not prepared in Nepal as of now.<br />
	 </div>
<div style="text-align: justify;">
	Aryal added that the SUT prepared now has 42 sectors of which 31 are the primary sectors and 11 are secondary sectors. Similarly, goods and services are categorised in 52 primary headings which are subdivided into hundreds of secondary headings.<br />
	 </div>
<div style="text-align: justify;">
	Aryal said SUT would be ready only when the total of supply and use is the same in all the 42 sectors of all 52 goods and services. “This is the most challenging part of preparing SUT and we have succeeded in that,” he added. Fiscal year 2004-05 is taken as the base year to prepare the SUT, Aryal informed.<br />
	 </div>
<p style="text-align: justify;">
	Asian Development Bank provided technical support for the SUT preparation which was completed entirely by Nepali human resource. Aryal said that it would be better if such tables can be prepared every five years.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '2011-04-28',
			'keywords' => '',
			'description' => 'The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready.',
			'sortorder' => '210',
			'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' => '283',
			'article_category_id' => '34',
			'title' => 'Shrestha Nominated CACCI Executive Committee Member',
			'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/img1.jpg" style="width: 242px; height: 265px;" vspace="2" />A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March. Pradeep Kumar Shrestha, Former President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led the 11-member business delegation at the conference.<br />
	 </div>
<div style="text-align: justify;">
	CACCI President Amb Benedicto Yujuico nominated three Executive Committee Members including Shrestha from Nepal and two others from Iran and Turkey. More than 400 delegates from 27 Asia Pacific countries attended the conference.<br />
	 </div>
<p style="text-align: justify;">
	A session on ‘Innovative and Leading-Edge Approaches to Sustainable Use of Resources’ was chaired by Shrestha during the conference.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March.',
			'sortorder' => '209',
			'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' => '282',
			'article_category_id' => '34',
			'title' => 'Banking Offences Continue Unabated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation. The authorities concerned accept that banking offences have not declined despite the provisions in the law aimed to control them. Due to the failure in the implementation of this law, cases like cheque bouncing, fraud and overvaluation of collaterals have continued unabated.<br />
	 </div>
<div style="text-align: justify;">
	Bhaskar Mani Gyanwali, the Spokesperson at Nepal Rastra Bank (NRB) accepted that the banking offences have not been controlled and argued that this is because very few people know about the legal provisions. Giving example of the cheque bounce, Gnyawali said though the law has provisions for penalty, imprisonment and black listing of the account holder who issues such cheques and almost all banks have been experiencing cases of cheque bounce, nobody has filed a legal complaint, said Gyanwali.<br />
	 </div>
<div style="text-align: justify;">
	In case of bounced cheque, Banking Offence and Punishment&nbsp;Act 2008 has a provision of penalty up to the amount of the cheque, confiscation of the money in the account of the issuer of such cheque and imprisonment of one to five years depending on the amount of the cheque.<br />
	 </div>
<p style="text-align: justify;">
	Other prevailing major banking offences in Nepal are opening new accounts without accountholder’s details, over valuation of collateral when granting loan and misuse of loans. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation.',
			'sortorder' => '208',
			'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' => '281',
			'article_category_id' => '34',
			'title' => 'Bird Tourism  To Lure Tourists',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development. The package proposed by the association has also been taken positively by the Ministry of Tourism and Civil Aviation.<br />
	 </div>
<div style="text-align: justify;">
	There are 868 species of birds identified in Nepal. The association has declared 27 regions including Koshi Tappu, Annapurna, Chitwan, Bardia and Shuklaphanta as the areas for bird watching. Each of these regions provide habitat to between 400 and 500 bird species.<br />
	 </div>
<div style="text-align: justify;">
	Gurung added that Rs 300,000 has already been disbursed to introduce the package. Gurung claimed that as bird watchers are rich and high-end tourists, this package would help attract them to Nepal.<br />
	 </div>
<p style="text-align: justify;">
	He also informed that 15 per cent of the income generated from the package would be used for the protection of birds. Currently, only one percent of tourists coming to Nepal go bird watching. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development.',
			'sortorder' => '207',
			'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' => '280',
			'article_category_id' => '34',
			'title' => 'Government Plans New Land Acquisition Act',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.<br />
	 </div>
<div style="text-align: justify;">
	The major points to be changed are related to the compensation and environmental management. The Ministry of Finance (MoF) has already held discussions with the authorities and ministries concerned. Finance Secretary Rameshwor Khanal said, “A new act is being formulated as there were difficulties in acquiring land for development projects under the existing one.”<br />
	 </div>
<div style="text-align: justify;">
	The Ministry of Law and Justice (MLJ) and Nepal Law Commission (NLC) have started reforming the law.<br />
	 </div>
<div style="text-align: justify;">
	Khanal added, “If such issues are not addressed timely, we will be unable to commence any project.”<br />
	 </div>
<p style="text-align: justify;">
	Ramesh Dhakal, a Joint Secretary at NLC said the new act would ensure easy and simple procedure for land acquisition. “It would also ensure the right amount of compensation,” he added. There is no provision of the compensation in the existing act. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.',
			'sortorder' => '206',
			'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' => '279',
			'article_category_id' => '34',
			'title' => 'Industries To Dodge Power Woes',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.<br />
	 </div>
<div style="text-align: justify;">
	According to Ananta Ram Rathi, the owner of Arbind Paper Mills,&nbsp;installation of the boiler for storing the steam has already started. The next step is to set up pressure turbines.<br />
	 </div>
<div style="text-align: justify;">
	According to Rathi, the boiler was installed for Rs 20 million while the turbine would cost around Rs 10 million. Rathi expects to meet 80 per cent of the power required by the mill to be supplied by this project. Currently the mill is paying Rs 1.8 million as electricity charge every month. “After the installation of the powerhouse, we can save up to Rs 10.75 million annually. More importantly, we hope that we can operate our factory throughout the year.” he said.<br />
	 </div>
<div style="text-align: justify;">
	Rathi said the steam generated in the factory can produce 500 Kilowatts of electricity.<br />
	 </div>
<div style="text-align: justify;">
	Similarly, Baba Paper Mills is conducting a study to install similar equipment.<br />
	 </div>
<div style="text-align: justify;">
	Meanwhile the companies are exploring ways to minimise the environmental damage caused by burning the husk which is used as the fuel in the boiler. <br />
	 </div>
<p style="text-align: justify;">
	Eastern Sugar Mill has been using this technology since the very beginning of the mill’s operation. It produces three megawatts of electricity. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.',
			'sortorder' => '205',
			'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' => '278',
			'article_category_id' => '34',
			'title' => 'Central Business Park In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five <i>ropanies</i> of land, the park will have a 10-storey air-conditioned building with amenities of global standard. The project is being promoted by Clean Developers Group and managed by Clean Energy Development Bank. The building will be very suitable for corporate offices, according to the promoters.&nbsp;&nbsp;</div>
<p style="text-align: justify;">
	The construction of the park is planned to be completed within 18 months. This is the second venture of the group after the success of Central Park Housing in Bishalnagar. The park is expected to address all problems related to space, power-cut, parking and security being faced by Nepal’s corporate world. Speaking at the programme, Sanjay Ladsaria, Executive Director of Clean Developers said, “The park will be useful for banks, insurance companies and other corporate offices.” The project is registered with US Green Building Council for LEED certification and is expected to save energy and water consumption.</p>',
			'published' => true,
			'created' => '2011-04-28',
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			'description' => 'The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five ropanies of land, the park will have a 10-storey air-conditioned building with amenities of global standard.',
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Code Context
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		'Article' => array(
			'id' => '292',
			'article_category_id' => '34',
			'title' => 'Digitised E-posters For Advertising',
			'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/img2.jpg" style="width: 320px; height: 202px;" vspace="2" />Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable. He informed that the technology is called electronic point of purchase media (E-POM).</div>
<p style="text-align: justify;">
	According to the company, this service has started from Bhatbhateni Supermarket in Kathmandu. Four 46 inches and two 32 inches display screens have been installed at the supermarket. Currently, there are 30 different advertisements being played on the e-posters. The screens are manufactured by Viewsonic, an American company. The advertisement on these e-posters can be played through pen drives too. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Media Space Solution Pvt Ltd has begun using digitised e-posters as a new advertising medium. G P Adhikari, the Executive Director of the company said at its official announcement function that advertising through such technology is easy and affordable.',
			'sortorder' => '218',
			'image' => null,
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		'Article' => array(
			'id' => '291',
			'article_category_id' => '34',
			'title' => 'Carpet Export Increases Despite Production Problems',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The export of woollen carpet increased&nbsp;16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.<br />
	 </div>
<div style="text-align: justify;">
	According to the Trade and Export Promotion Centre, 423,481 square metres of carpet worth Rs 2.37 billion was exported to different countries in the six months that ended on mid-January 2011. During the same period last year, the value of carpet export was Rs 2.03 billion.<br />
	 </div>
<div style="text-align: justify;">
	Anup Bahadur Malla, the promoter of Kangri Carpet said the demand for Nepali carpet is growing in the international market. “We have not been able to supply enough to meet the growing demand,” he added. He revealed that though the market is growing, the industries in Nepal have failed to respond accordingly due to the power crisis and labour problems.<br />
	 </div>
<div style="text-align: justify;">
	“Though we have demand, there are no skilled labours to produce carpet,” he lamented. He added that the price of Nepali carpets have not increased despite the rise in demand. Nepali carpets compete with the Indian carpets which are 40 per cent cheaper. But Malla claimed that the quality of Nepali carpet is much better.<br />
	 </div>
<p style="text-align: justify;">
	Surendra Dhakal, the Advisor of the Carpet Exporter’s Association has however cautioned that though the export had increased in the first six months it has started declining after December. </p>
<p>
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The export of woollen carpet increased 16.5 per cent in the first six months of the current fiscal year compared to the same period of the last year indicating rvivial in the industry.',
			'sortorder' => '217',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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		'Article' => array(
			'id' => '290',
			'article_category_id' => '34',
			'title' => 'Banks Register Increase In Returns And Capital Fund',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.<br />
	 </div>
<div style="text-align: justify;">
	Average return of the banks in second quarter of the last year was 9.46 per cent while this year, it is 11.44 per cent. Shovan Dev Panta, the CEO of Lumbini Bank said the average return increased as there was progress in the repayment of bad loans. “However with the increase in cost of fund, the returns have not increased as expected,” he added. Cost of fund that was 5.43 per cent in the second quarter last year has increased to 7.86 per cent in the same period this year.<br />
	 </div>
<div style="text-align: justify;">
	Maheswor Lal Shrestha, the Management Coordinator of Nepal Bank Limited said it is positive to have increasing returns for banks in the current difficult situation. “But along with the return, cost of fund has also increased which is not a good sign,” he said. He cites the increase in interest rate for deposits as the main reason behind the rise in cost of fund. “This would also increase the rate of interest in loans which will eventually affect investment and consumption,” he explained.<br />
	 </div>
<p style="text-align: justify;">
	According to the report, all banks’ average returns have increased. Compared to the second quarter of last fiscal year, bank’s capital adequacy has increased to 15.7 per cent of the risk-weighted assets.&nbsp;This was 10.4 per cent in the same period last year.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Commercial banks’ average return has increased by 2 per cent over the last one year. This is shown by the unaudited report of 30 banks for the second quarter of the current fiscal year.',
			'sortorder' => '216',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		'Article' => array(
			'id' => '289',
			'article_category_id' => '34',
			'title' => 'CG Launches Three Housing Projects',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub, a shopping mall at Bharatpur, Chitwan. “The total investment for these projects will be Rs 1.1 billion,” said Nirvana Chaudhary, the Managing director of the group.<br />
	 </div>
<div style="text-align: justify;">
	A statement from the group claims that the MVR III will have nine independent houses with design and architecture similar to that of MVR I and II. These houses would cost between Rs 15 million to Rs 20 million. Similarly, CG Hills at Hattigauda will have 60 stand-alone and row houses built in four to nine aanas of land, according to the statement. The houses in this project would cost from Rs 10 million to Rs 15 million.</div>
<p style="text-align: justify;">
	The Bharatpur Hub will be the first multiplex with shopping mall, food court and a three or four star hotel outside the Kathmandu Valley, the statement said.&nbsp;The multiplex will be constructed at an investment of Rs 550 million. “We will construct similar malls in Pokhara, Itahari and Butwal in the near future. The investment in each project will be at least Rs 500 million,” informed Chaudhary. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'CG Developers, the property development wing of Chaudhary Group has launched three housing projects. These are the Mount View Residency (MVR) Phase III at Harisiddhi, CG Hills at Hattigauda and Bharatpur Hub......',
			'sortorder' => '215',
			'image' => null,
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		'Article' => array(
			'id' => '288',
			'article_category_id' => '34',
			'title' => 'Lower Modi Hydro 75 Per Cent Complete',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment. The project that began in 2007 is expected to complete by 2011 August.</div>
<p style="text-align: justify;">
	United Modi Hydropower Pvt Ltd has invested Rs 1.66 billion on the 10 Megawatts project. Upendra Gautam, the Director of the company said, “Construction of headworks, descending basin and canal is 75 per cent complete.” Gautam said if the political environment remains favourable, the project will be completed within the stipulated time period. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The construction work at Lower Modi Hydroelectricity Project is 75 per cent complete. The project at Chuwa VDC of Parbat district is being constructed entirely by Nepali company, technology and investment.',
			'sortorder' => '214',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '287',
			'article_category_id' => '34',
			'title' => 'WB To Finance Kabeli-Damak Transmission Line',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction. Shyam Shrestha, the Chief of the project said at least US$ 5 million will be provided as aid while the remaining amount would be subsidised loan.<br />
	 </div>
<div style="text-align: justify;">
	The amount of aid and loan would be fixed during a meet on April 4, said Ram Chandra Pandey, General Manager of the Department of Transmission Line at Nepal Electricity Authority (NEA). Shrestha said the WB has agreed to provide the aid from its old fund.<br />
	 </div>
<div style="text-align: justify;">
	The NEA had started negotiation with the WB for four months ago to arrange the finance for the project. The WB has now agreed to finance the entire cost of the project.<br />
	 </div>
<div style="text-align: justify;">
	The transmission line will be of 132 Kilovolt and can transmit up to 150 Megawatts of electricity. it will begin near Kabeli A hydroelectricity project and end at Damak substation stretching some 90 kilometres.&nbsp;Shrestha said, “Though the line is near Kabeli A project, it is not solely for this project. It would connect to the national grid other hydroelectricity projects as well that are developed near Kabeli A site.”<br />
	 </div>
<p style="text-align: justify;">
	Acording to him, the construction of the project will be completed by 2014. He said the construction work at the Damak substation has already started and the works on the transmission line would begin after the coming rainy season.</p>
<p style="text-align: justify;">
	 </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Kabeli-Damak transmission line would be constructed under The World Bank’s (WB) financing. The WB has decided to provide US$ 30 million (around Rs 2.22 billion) for the construction.',
			'sortorder' => '213',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '286',
			'article_category_id' => '34',
			'title' => 'BoK Launches Kissan Banking Sewa',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels. This product aims at setting up a culture to save for the future among all communities and include them in the banking system, according to the bank. Ajaya Shrestha, the CEO of the bank said this new scheme has been introduced after receiving overwhelming response for some other products of the bank.<br />
	 </div>
<div style="text-align: justify;">
	According to the bank, this product will use the branches as the focal points and utilise technological solutions like mobile banking. The bank already has a mobile banking product branded M-PAISA. It says, “In order to ensure service accessibility to the target segment without any additional cost, all services available under M-PAISA are made free of charge.”<br />
	 </div>
<div style="text-align: justify;">
	According to a press statement released by the bank, the product is based on SHG (Self Help Group) model wherein people will organise themselves in a group of five members and participate in the programme.<br />
	 </div>
<div style="text-align: justify;">
	The group members can deposit certain amount in their individual accounts for a stipulated period. Once the standard criteria for the deposit volume are met, they will be eligible for the loan. The loan till a predefined limit will be provided upon the group’s guarantee without any collateral, the statement says.<br />
	 </div>
<div style="text-align: justify;">
	The bank claims that the product is the first of its kind from the commercial banks of Nepal. The bank expects such products would benefit Nepal’s agro-based economy. The strategy is expected to contribute positively to the rural development by instilling financial habits amongst the rural people.<br />
	 </div>
<p style="text-align: justify;">
	Jawalakhel and Sankhu branch are chosen as the first phase locations to serve as the central points of these products.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Bank of Kathmandu (BoK) has introduced ‘BOK Kissan Banking Sewa’ with the aim of bringing the rural mass into the formal financial channels.',
			'sortorder' => '212',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	(int) 7 => array(
		'Article' => array(
			'id' => '285',
			'article_category_id' => '34',
			'title' => 'New Federation For Medium Sized Hotels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year. He said that as the existing association is limited to hotels in the Kathmandu Valley only, a need was felt go expand it to include all the hotels from across the country.<br />
	 </div>
<div style="text-align: justify;">
	He said there is a provision in the statute for forming a federation by including five districts and 11 associations. <br />
	 </div>
<div style="text-align: justify;">
	According to him a national meet would be organised within a month to prepare for the objective.<br />
	 </div>
<div style="text-align: justify;">
	The NHEA currently has seven hotel entrepreneurs associations from different places in Kathmandu and Nepal Guesthouse Entrepreneurs Association affiliated to it. There are around 3,500 medium and small hotels across the country including 1,400 in Kathmandu. Accoridng to the association there are around 300 unregistered medium sized hotels operating in Kathmandu alone.<br />
	 </div>
<p style="text-align: justify;">
	After the formation of the federation, the operational quality of the hotels is expected to get better. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Medium sized hotels operating in Kathmandu are planning to form a federation by including similar hotels from all across the country. Amrit Bhujel, the President of Nepal Hotel Entrepreneurs Association (NHEA) said the new federation would be formed within a year.',
			'sortorder' => '211',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
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	(int) 8 => array(
		'Article' => array(
			'id' => '284',
			'article_category_id' => '34',
			'title' => 'Supply & Use  Table Ready',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready. The SUT helps to examine what products and services are being produced and supplied in the country and how they are being used – in industries or in consumption.<br />
	 </div>
<div style="text-align: justify;">
	Such table would make the measurement of economic variables more realistic, according to Economist Prof Dr Madan Kumar Dahal.<br />
	 </div>
<div style="text-align: justify;">
	SUT also helps understand the effect of the change in one sector or sub-sector of the economy on the other sector or subsector. It also helps to adjust the differences in the Gross Domestic Product (GDP) figures calculated from different methods. GDP is calculated by adding up either the expenditure, income or production by all the members of the economy in a given period of time. The table also works as a base to prepare Symmetric Input-Output Table (SIOT) needed for national planning. According to CBS, it can also help in preparing Social Accounting Matrix (SAM). SIOT and SAM are not prepared in Nepal as of now.<br />
	 </div>
<div style="text-align: justify;">
	Aryal added that the SUT prepared now has 42 sectors of which 31 are the primary sectors and 11 are secondary sectors. Similarly, goods and services are categorised in 52 primary headings which are subdivided into hundreds of secondary headings.<br />
	 </div>
<div style="text-align: justify;">
	Aryal said SUT would be ready only when the total of supply and use is the same in all the 42 sectors of all 52 goods and services. “This is the most challenging part of preparing SUT and we have succeeded in that,” he added. Fiscal year 2004-05 is taken as the base year to prepare the SUT, Aryal informed.<br />
	 </div>
<p style="text-align: justify;">
	Asian Development Bank provided technical support for the SUT preparation which was completed entirely by Nepali human resource. Aryal said that it would be better if such tables can be prepared every five years.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '2011-04-28',
			'keywords' => '',
			'description' => 'The Central Bureau of Statistics (CBS) has prepared Supply and Use Table (SUT) that will help improve the national income accounting. Suman Raj Aryal, CBS Director and Chief of National Account Department said the report is almost ready.',
			'sortorder' => '210',
			'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' => '283',
			'article_category_id' => '34',
			'title' => 'Shrestha Nominated CACCI Executive Committee Member',
			'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/img1.jpg" style="width: 242px; height: 265px;" vspace="2" />A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March. Pradeep Kumar Shrestha, Former President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led the 11-member business delegation at the conference.<br />
	 </div>
<div style="text-align: justify;">
	CACCI President Amb Benedicto Yujuico nominated three Executive Committee Members including Shrestha from Nepal and two others from Iran and Turkey. More than 400 delegates from 27 Asia Pacific countries attended the conference.<br />
	 </div>
<p style="text-align: justify;">
	A session on ‘Innovative and Leading-Edge Approaches to Sustainable Use of Resources’ was chaired by Shrestha during the conference.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'A business delegation from Nepal attended the 25th Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) Conference held in Istanbul, Turkey from 6 to 8 March.',
			'sortorder' => '209',
			'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' => '282',
			'article_category_id' => '34',
			'title' => 'Banking Offences Continue Unabated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation. The authorities concerned accept that banking offences have not declined despite the provisions in the law aimed to control them. Due to the failure in the implementation of this law, cases like cheque bouncing, fraud and overvaluation of collaterals have continued unabated.<br />
	 </div>
<div style="text-align: justify;">
	Bhaskar Mani Gyanwali, the Spokesperson at Nepal Rastra Bank (NRB) accepted that the banking offences have not been controlled and argued that this is because very few people know about the legal provisions. Giving example of the cheque bounce, Gnyawali said though the law has provisions for penalty, imprisonment and black listing of the account holder who issues such cheques and almost all banks have been experiencing cases of cheque bounce, nobody has filed a legal complaint, said Gyanwali.<br />
	 </div>
<div style="text-align: justify;">
	In case of bounced cheque, Banking Offence and Punishment&nbsp;Act 2008 has a provision of penalty up to the amount of the cheque, confiscation of the money in the account of the issuer of such cheque and imprisonment of one to five years depending on the amount of the cheque.<br />
	 </div>
<p style="text-align: justify;">
	Other prevailing major banking offences in Nepal are opening new accounts without accountholder’s details, over valuation of collateral when granting loan and misuse of loans. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The law aimed to control malpractices in the banking sector has not proved effective even after one- and-a-half years of its promulgation.',
			'sortorder' => '208',
			'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' => '281',
			'article_category_id' => '34',
			'title' => 'Bird Tourism  To Lure Tourists',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development. The package proposed by the association has also been taken positively by the Ministry of Tourism and Civil Aviation.<br />
	 </div>
<div style="text-align: justify;">
	There are 868 species of birds identified in Nepal. The association has declared 27 regions including Koshi Tappu, Annapurna, Chitwan, Bardia and Shuklaphanta as the areas for bird watching. Each of these regions provide habitat to between 400 and 500 bird species.<br />
	 </div>
<div style="text-align: justify;">
	Gurung added that Rs 300,000 has already been disbursed to introduce the package. Gurung claimed that as bird watchers are rich and high-end tourists, this package would help attract them to Nepal.<br />
	 </div>
<p style="text-align: justify;">
	He also informed that 15 per cent of the income generated from the package would be used for the protection of birds. Currently, only one percent of tourists coming to Nepal go bird watching. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal Birds Protection Association has introduced a new package to attract tourists. Dr Hum Gurung, the CEO of the association said this will help exploit the opportunity of bird watching for tourism development.',
			'sortorder' => '207',
			'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' => '280',
			'article_category_id' => '34',
			'title' => 'Government Plans New Land Acquisition Act',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.<br />
	 </div>
<div style="text-align: justify;">
	The major points to be changed are related to the compensation and environmental management. The Ministry of Finance (MoF) has already held discussions with the authorities and ministries concerned. Finance Secretary Rameshwor Khanal said, “A new act is being formulated as there were difficulties in acquiring land for development projects under the existing one.”<br />
	 </div>
<div style="text-align: justify;">
	The Ministry of Law and Justice (MLJ) and Nepal Law Commission (NLC) have started reforming the law.<br />
	 </div>
<div style="text-align: justify;">
	Khanal added, “If such issues are not addressed timely, we will be unable to commence any project.”<br />
	 </div>
<p style="text-align: justify;">
	Ramesh Dhakal, a Joint Secretary at NLC said the new act would ensure easy and simple procedure for land acquisition. “It would also ensure the right amount of compensation,” he added. There is no provision of the compensation in the existing act. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The government is planning to introduce a new law for land acquisition replacing the existing Land Acquision Act-1977 with the objective to avoid the hassles being faced in acquiring land for development projects.',
			'sortorder' => '206',
			'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' => '279',
			'article_category_id' => '34',
			'title' => 'Industries To Dodge Power Woes',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.<br />
	 </div>
<div style="text-align: justify;">
	According to Ananta Ram Rathi, the owner of Arbind Paper Mills,&nbsp;installation of the boiler for storing the steam has already started. The next step is to set up pressure turbines.<br />
	 </div>
<div style="text-align: justify;">
	According to Rathi, the boiler was installed for Rs 20 million while the turbine would cost around Rs 10 million. Rathi expects to meet 80 per cent of the power required by the mill to be supplied by this project. Currently the mill is paying Rs 1.8 million as electricity charge every month. “After the installation of the powerhouse, we can save up to Rs 10.75 million annually. More importantly, we hope that we can operate our factory throughout the year.” he said.<br />
	 </div>
<div style="text-align: justify;">
	Rathi said the steam generated in the factory can produce 500 Kilowatts of electricity.<br />
	 </div>
<div style="text-align: justify;">
	Similarly, Baba Paper Mills is conducting a study to install similar equipment.<br />
	 </div>
<div style="text-align: justify;">
	Meanwhile the companies are exploring ways to minimise the environmental damage caused by burning the husk which is used as the fuel in the boiler. <br />
	 </div>
<p style="text-align: justify;">
	Eastern Sugar Mill has been using this technology since the very beginning of the mill’s operation. It produces three megawatts of electricity. </p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Two paper mills in Sunsari have found a new way to get rid of the ongoing power crisis. Arvind Paper Mills at Narshimha and Baba Paper Mills plan to produce electricity from the steam generated in the factory.',
			'sortorder' => '205',
			'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' => '278',
			'article_category_id' => '34',
			'title' => 'Central Business Park In The Offing',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify;">
	The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five <i>ropanies</i> of land, the park will have a 10-storey air-conditioned building with amenities of global standard. The project is being promoted by Clean Developers Group and managed by Clean Energy Development Bank. The building will be very suitable for corporate offices, according to the promoters.&nbsp;&nbsp;</div>
<p style="text-align: justify;">
	The construction of the park is planned to be completed within 18 months. This is the second venture of the group after the success of Central Park Housing in Bishalnagar. The park is expected to address all problems related to space, power-cut, parking and security being faced by Nepal’s corporate world. Speaking at the programme, Sanjay Ladsaria, Executive Director of Clean Developers said, “The park will be useful for banks, insurance companies and other corporate offices.” The project is registered with US Green Building Council for LEED certification and is expected to save energy and water consumption.</p>',
			'published' => true,
			'created' => '2011-04-28',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The foundation stone of Central Business Park was laid in Thapathali of Kathmandu on Saturday. Spread over an area of five ropanies of land, the park will have a 10-storey air-conditioned building with amenities of global standard.',
			'sortorder' => '204',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
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