OPPO Opens 1st Service Centre at City Center

Jan 19, 2017 2 40 seconds to read

January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari. Issuing a press statement, the company has said that the service center is aimed at providing maintenance and…

Repair of Upper Tamakoshi Dam Resumes After 22 Months

Jan 19, 2017 0 1 minutes 22 seconds to read

January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now…

Interbank Transaction between BFIs Other than Commercial Bank Increases

Jan 19, 2017 0 1 minutes 34 seconds to read

January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial…

Laxmi Bank Starts Branch at Old Baneshwor

Jan 19, 2017 0 16 seconds to read

January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16th branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs.…

Nepal bank Appoints Civil Capital as Issue Manager

Jan 19, 2017 0 25 seconds to read

January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18. The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56th annual general…

Samsung to Launch Galaxy C9 Pro in Nepali Market

Jan 19, 2017 0 35 seconds to read

January 19: A South Korean multinational electronics company, Samsung is launching its new mobile phone model C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media, retailer of Samsung phone in Nepal, the company is planning to launch the mobile phone by the end of…

Government to Implement Exim Code from Next FY

Jan 18, 2017 0 2 minutes 16 seconds to read

January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective. The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. "The mechanism is being implemented to discourage…

Inflation Cools, Economic Growth Target to be Met

Jan 18, 2017 0 1 minutes 58 seconds to read

January 17: The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17. In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY. According to the…

Forward Community Microfinance's IPO through ASBA System

Jan 18, 2017 1 1 minutes 16 seconds to read

January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA…

BFIs let-go NRB Security Bills; Liquidity Crisis in Question

Jan 18, 2017 0 1 minutes 11 seconds to read

January 18: Nepal Rastra Bank issued Rs 40 billion worth of 'Direct Purchase Auction Bidding' in a bid to address BIFs' complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold.…

Pathak Appointed as Deputy CEO of NCC

Jan 18, 2017 0 17 seconds to read

January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in…

ADBL to Start Mobile Banking Services

Jan 18, 2017 1 53 seconds to read

January 18: Agricultural Development Bank is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash…

Call for Increasing Engagement with China For Economic Prosperity

Jan 17, 2017 0 3 minutes 29 seconds to read

January 17: Former prime minister KP Sharma Oli has said that the ‘One Belt, One Road’ initiative taken by China can be largely beneficial to the Nepali…

Nyadi Hydropower Contract to Chinese Company Zhejiang

Jan 17, 2017 0 1 minutes 14 seconds to read

January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January…

Birgunj Customs Collects 55 Billion Revenue in 6 Months

Jan 17, 2017 0 2 minutes 5 seconds to read

January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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			'id' => '5183',
			'article_category_id' => '1',
			'title' => 'OPPO Opens 1st Service Centre at City Center',
			'sub_title' => '',
			'summary' => 'January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.  Issuing a press statement, the company has said that the service center is aimed at providing maintenance and s',
			'content' => '<p style="text-align: justify;">January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.</p>

<p style="text-align: justify;">Issuing a press statement, the company has said that the service center is aimed at providing maintenance and servicing of Oppo handsets sold in Nepal.</p>

<p style="text-align: justify;">&ldquo;Located at the shop number S10 at second floor of City Centre, the service centre will provide services to its valued customers throughout Sunday to Friday from 10 am to 6 pm,&rdquo; reads the statement. With the opening, Oppo has started a toll-free hotline number as well. The company informs that the customers can make queries and receive solutions to problems regarding their Oppo mobile phones by dialing 16600188886. &nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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		'Article' => array(
			'id' => '5182',
			'article_category_id' => '1',
			'title' => 'Repair of Upper Tamakoshi Dam Resumes After 22 Months',
			'sub_title' => '',
			'summary' => 'January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.',
			'content' => '<p style="text-align: justify;">January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.</p>

<p style="text-align: justify;">The construction works of dam area halted due to the disruption in the access road caused by the earthquake, took a pace after the construction of the tunnel road to the project.</p>

<p style="text-align: justify;">Sino Hydro, the main civil constructor of the project re-started the construction of the dam area under Lot-1 which was completed by 90 per cent earlier, said Dr. Ganesh Neupane, Spokesperson of the Upper Tamakoshi Hydropower Project.</p>

<p style="text-align: justify;">The concreting task in the &#39;Gate Hub&#39; of the left side started under the dam construction which started with a new working schedule, said the project.</p>

<p style="text-align: justify;">Dr Neupane informed that the installation of the gate used for the dam and related technology has also started. According to him, repair of dam, de-sander basin, installation of water controlling gates and other tasks have also been started.</p>

<p style="text-align: justify;">Previously, the consultant of the project had informed that the 60 meter long and 22 meter high dam bogged down by17 centimetres during the earthquake. &quot;Lahmeyer, the consultant company of the project has suggested using grouting technology to repair the sinkholes of the dam caused by the sink,&quot; said Neupane.</p>

<p style="text-align: justify;">According to the concerned employees of the project, the project under construction in Lamabagar of Dolakha district might generate 456 MW of electricity before its new completion schedule.</p>
',
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			'created' => '2017-01-19',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4985',
			'image' => '20170119031439_upper tamakoshi.jpg',
			'article_date' => '2017-01-19 00:00:00',
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		'Article' => array(
			'id' => '5181',
			'article_category_id' => '1',
			'title' => 'Interbank Transaction between BFIs Other than Commercial Bank Increases',
			'sub_title' => '',
			'summary' => 'January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.',
			'content' => '<p style="text-align: justify;">January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.</p>

<p style="text-align: justify;">Meanwhile, the interbank transaction of commercial banks has increased by 1.5 times. The interbank transaction which was Rs 317 billion during the first five months of the last FY has increased to Rs 486 billion in the review period of the current FY, according to the current Macroeconomic and Financial Situation of Nepal based on five months&#39; data published by NRB.</p>

<p style="text-align: justify;">From the initial period of the current FY, the interbank transactions between BFIs were in increasing trend. The government&#39;s failure to carry out capital expenditure as per its target has lead to the liquidity crisis, said the bankers. With the shortage of investable money, the banks are collecting funds by increasing interest rate of deposits.</p>

<p style="text-align: justify;">With the increase in deposit interest rate, loan interest rate has also increased resulting deterioration of investment environment, as per the entrepreneurs. &nbsp;The investors who invest by taking loans from BFIs are not willing to take risk on increasing loan interest rate.</p>

<p style="text-align: justify;">Along with the interbank transaction, weighted average interest rate of interbank transaction has also increased. According to NRB, the weighted average interest rate of interbank transaction was 2.67 per cent by the mid-December 2016. During the same period of the last FY, such interest rate was 0.82 per cent while it was 3.59 per cent by the mid-November of the current FY.&nbsp;</p>
',
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			'sortorder' => '4984',
			'image' => '20170119010741_interbank.jpg',
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			'id' => '5180',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Starts Branch at Old Baneshwor',
			'sub_title' => '',
			'summary' => 'January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16th branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs. ',
			'content' => '<p style="text-align: justify;">January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16<sup>th</sup> branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs.&nbsp;</p>
',
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			'created' => '2017-01-19',
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			'description' => '',
			'sortorder' => '4983',
			'image' => '20170119115131_laxmi branch.jpg',
			'article_date' => '2017-01-19 00:00:00',
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		'Article' => array(
			'id' => '5179',
			'article_category_id' => '1',
			'title' => 'Nepal bank Appoints Civil Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.  The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56th annual general meeting.',
			'content' => '<p style="text-align: justify;">January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.</p>

<p style="text-align: justify;">The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56<sup>th</sup> annual general meeting.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4982',
			'image' => '20170119114700_nepal bank.jpg',
			'article_date' => '2017-01-19 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '5178',
			'article_category_id' => '1',
			'title' => 'Samsung to Launch Galaxy C9 Pro in Nepali Market',
			'sub_title' => '',
			'summary' => 'January 19: A South Korean multinational electronics company, Samsung is launching its new mobile phone model C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media, retailer of Samsung phone in Nepal, the company is planning to launch the mobile phone by the end of February.',
			'content' => '<p style="text-align:justify">January 19: South Korean multinational electronics company, Samsung is launching its new smartphone Samsung Galaxy C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media,&nbsp;the company is planning to launch the mobile phone by the end of February.</p>

<p style="text-align:justify">As per Khadka, the company will open advance booking for the phone from mid-February. The phone is powered by 4000mAh battery and 16MP rear&nbsp;camera with dual-LED (dual tone) flash. The phone comes with 6 GB RAM, 64 GB internal memory and Android Marshmallow operating system. The company informed that the phone will cost below Rs 60,000 in the domestic market.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4981',
			'image' => '20170119112129_samsung.jpg',
			'article_date' => '2017-01-19 00:00:00',
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		'Article' => array(
			'id' => '5177',
			'article_category_id' => '1',
			'title' => 'Government to Implement Exim Code  from Next FY',
			'sub_title' => '',
			'summary' => 'January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.  The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. "The mechanism is being implemented to discourage il',
			'content' => '<p style="text-align: justify;">January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.</p>

<p style="text-align: justify;">The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. &quot;The mechanism is being implemented to discourage illegal trade,&quot; said Devi Prasad Bhandari, Director of the Planning and Services Section of the Customs Department.</p>

<p style="text-align: justify;">Director Bhandari claims that the technology will further encourage legal foreign trade. He informed that the technical preparation has already been initiated for its implementation. According to the Department, registration of code will start from January 26. The exporters and importers can apply for registration through online.</p>

<p style="text-align: justify;">Although the Customs Act had already mechanised Exim Code for transparency in export and import, it is being implemented only after a decade. The Department has also interacted and collected suggestions from industrialists and entrepreneurs of major export-import hubs for its implementation. Bhandari informed that the entrepreneurs from Birgunj and Bhairahawa have been consulted for this. &quot;Series of discussions with stakeholders have been conducted for the purpose. Suggestions from the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) and Trade Facilitation Centre have also been drawn,&quot; he said.</p>

<p style="text-align: justify;">The preparation to introduce it has been started with an objective of increasing revenue recovery by systematizing and updating the statistics of the exporters and importers, said one official of the Department.</p>

<p style="text-align: justify;">Director Bhandari informed that the traders who import goods worth above Rs 25,000 will have to mandatorily obtain an Exim code. However, exporters need Exim code for exports of Rs 500,000 and above. Officials claim that the enforcement of the rule will help control fake firms and revenue leakage, and also introduce price uniformity in the market.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Presently, information of import is sent to the Nepali consulate in Kolkata through the Department of Commerce after opening letter of credit ( LC),&nbsp; and the consulate sends&nbsp; it to the Indian Customs with due process , &nbsp;and this process will be automatically shortened through this new technology, said Section Officer Arjun Poudel. A separate software is being prepared for this, he said.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Director Bhandari said this arrangement is effective worldwide as it discourages fake transactions besides saving time of the exporters and importers.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4980',
			'image' => '20170118045416_customs.JPG',
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	(int) 7 => array(
		'Article' => array(
			'id' => '5176',
			'article_category_id' => '1',
			'title' => 'Inflation Cools, Economic Growth Target to be Met',
			'sub_title' => 'NRB’s Five-month Macroeconomic Report',
			'summary' => ' January 17:  The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.  In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.   According to the repo',
			'content' => '<p style="text-align: justify;">January 17: &nbsp;The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.&nbsp; In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.</p>

<p style="text-align: justify;">&nbsp;According to the report, the inflation was 11.6 percent in the last FY last and stood at 4.8 percent until October the current FY. NRB mentioned increasing of production activities in the country, ease in the supply system alongside the effective government monitoring of the market as factors attributing to the lowering of the inflation rate.</p>

<p style="text-align: justify;">Region wise, Kathmandu valley has the least inflation at 2.5 percent. &ldquo;This means that the market monitoring was effective,&rdquo; says one economist. As per the report, inflation rate in the hilly areas stood at 5.5 percent during the period while it was 3.7 percent in both mountainous regions and Terai plains.</p>

<p style="text-align: justify;">According to NRB, inflation in the food and non-food groups during the period were logged at 0.6 percent and 6.5 percent respectively. The food inflation and non-food inflation were 14.8 percent and 9.1 percent in the corresponding period of the last FY.&nbsp;</p>

<p style="text-align: justify;">&nbsp;In the current FY, the price of ghee and &nbsp;edible oil have come down by the highest 20.5 percent while it was lowest in pulses and beans at 6.6 percent.&nbsp; In fruit and food items, the prices came down by 2.4 percent and 1.1 percent respectively. However, the report points out that the inflation surged by 14.7 percent and 11.6 percent in sugar, sugar related products and alcoholic beverages respectively.&nbsp;</p>

<p style="text-align: justify;">According to NRB, the cooling of the inflation rate has also indicated that the economic growth could be attained as targeted by the budget and monetary policy of the current FY.</p>

<p style="text-align: justify;">&nbsp;The report states that targeted economic growth rate could be achieved in view of the favorable weather, improvement in energy supply and accelerating reconstruction works and steadily increasing remittance inflow. &ldquo;More than expected agricultural growth could support attaining the target of economic growth in 2017,&rdquo; NRB said in the report.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4979',
			'image' => null,
			'article_date' => '2017-01-18 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '5175',
			'article_category_id' => '1',
			'title' => 'Forward Community Microfinance's IPO through ASBA System',
			'sub_title' => '',
			'summary' => 'January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.',
			'content' => '<p style="text-align: justify;">January 18: General investors who are interested on Forward Community Microfinance&#39;s IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.</p>

<p style="text-align: justify;">&quot;ASBA was supposed to be implemented from January 14, however, there was no issuance of IPO or FPO during the first week. Thus the investors will get the services for the first time in Forward Community&#39;s IPO,&quot; said Niranjan Ghimire, Joint Spokesperson of SEBON. &quot;The system will simplify, ease and hassle free the process for investors, thus, we believe the participation will be encouraging,&quot; he added.</p>

<p style="text-align: justify;">Investors can apply for Forward Community Microfinance&#39;s IPO directly through their bank accounts of SEBON approved BFIs by paying certain charges. The investors can also submit their applications for free from Nabil Investment Banking, the issue manager of the IPO, in previous manner. However, under the system, investors can easily submit their application hassle-free by paying certain fee, he said.</p>

<p style="text-align: justify;">Under the system, investors will be charged Rs 150 per application under Rs 50,000and Rs 250 per application above Rs 50,000. SEBON clarifies that the system is not mandatory for now.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4978',
			'image' => '20170118015128_FORWARD_Community_.jpg',
			'article_date' => '2017-01-18 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '5174',
			'article_category_id' => '1',
			'title' => 'BFIs let-go NRB Security Bills; Liquidity Crisis in Question',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Rastra Bank issued Rs 40 billion worth of 'Direct Purchase Auction Bidding' in a bid to address BIFs' complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold.  ',
			'content' => '<p style="text-align:justify">January 18: Nepal Rastra Bank issued Rs 40 billion worth of &#39;Direct Purchase Auction Bidding&#39; in a bid to address BIFs&#39; complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold. &nbsp;</p>

<p style="text-align:justify">&quot;The less participation of BFIs in the auction bidding of Rs 40 billion issued by the NRB to curve the liquidity crisis has doubted the existence of liquidity crisis in the market,&quot; said Chitamani Siwakoti, Deputy Governor of NRB. According to him, BFIs procured only Rs 1.90 billion of Rs 20 billion repo issued by the NRB previously. During the issuance of repo, BFIs viewed that the short term repo might not address the liquidity crisis.</p>

<p style="text-align:justify">&quot;As repo is for only 2 weeks period, we issued NRB Security Bills with the maturity period till May 26 and July 13 that can be directly purchased through auction bidding. However, it drew minimal participation.&quot; Only six BFIs participated in the auction bidding. As per Siwakoti, if there was real crisis of liquidity, BFIs would have procured the required amount for investment.&nbsp;</p>
',
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			'created' => '2017-01-18',
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			'sortorder' => '4977',
			'image' => '20170118125918_nrb.jpg',
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	(int) 10 => array(
		'Article' => array(
			'id' => '5173',
			'article_category_id' => '1',
			'title' => 'Pathak Appointed as Deputy CEO of NCC',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.',
			'content' => '<p style="text-align:justify">January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4976',
			'image' => '20170118111527_ncc.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '5172',
			'article_category_id' => '1',
			'title' => 'ADBL to  Start Mobile Banking Services',
			'sub_title' => '',
			'summary' => 'January 18: Agricultural Development Bank is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.',
			'content' => '<p style="text-align:justify">January 18: Agricultural Development Bank (ADBL)&nbsp;is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.</p>

<p style="text-align:justify">With the agreement, the bank will start &#39;ADBL Smart Banking&#39; mobile banking services for its customers. &nbsp;The bank said that the F1 has prepared software as per the requirements of the bank. According to the bank, the customers can now fill up the forms, get notifications of transactions, transfer money, request for statement and chequebooks, defer debit card and cheque, get information on loan interest and principal through ADBL Smart Banking Services or through online. Moreover, the bank informed that the customers initiating the service in the current year will not be charged annual fee.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4975',
			'image' => '20170118110307_agriculture.jpg',
			'article_date' => '2017-01-18 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '5171',
			'article_category_id' => '1',
			'title' => 'Call for Increasing Engagement with China For Economic Prosperity',
			'sub_title' => '',
			'summary' => 'January 17: Former prime minister KP Sharma Oli has said that the ‘One Belt, One Road’ initiative taken by China can be largely beneficial to the Nepali economy',
			'content' => '<p>January 17: Former prime minister KP Sharma Oli has said that the &lsquo;One Belt, One Road&rsquo; initiative taken by China can be largely beneficial to the Nepali economy. He said that Nepal&rsquo;s engagement in restoring and reviving the ancient Silk Road route will usher the country into a new era of trade and connectivity.</p>

<p>Former PM Oli who is also the chairman of the main opposition party CPN-UML, made such remarks at the inaugural session of the China-Nepal Think-Tank Top Conference 2017 in Kathmandu that commenced today. The two-day conference is organised jointly by the Kathmandu Bureau of Xinhua News Agency, the official news agency of China and Nepal Study Center at Hebei University of Economics &amp; Business, China. The programme was chaired by Huang Youyi, Secretary General ofInternational Advisory Board of The Chahar Institute and Political Member of Chinese People Political Consultative Conference and its Foreign Affairs Committee.&nbsp;&nbsp;&nbsp;</p>

<p>Inaugurating the event, Oli thanked China for its policy of non-interference in Nepal&rsquo;s internal matters. &ldquo;I have found China very much willing and eager in supporting the development endeavours in Nepal,&rdquo; he mentioned. He said that despite the current difficult political situation, Nepal is headed towards a new and positive direction.</p>

<p>It is the first conference of China-Nepal Think Tank, a group comprising of eminent personalities from Nepal and China. According to the organisers, the objective of the event is to find ways to further strengthen the bilateral relationship between the two nations.</p>

<p>Speaking at the programme, former deputy prime minister and foreign minister Kamal Thapa charted out three factors impacting the Sino-Nepal relationship. &ldquo;First is the significant socio-economic transformation in China and Nepal. Second is the emergence of China and India as the world&rsquo;s economic powerhouses, and thirdly, the One Belt, One Road connectivity concept,&rdquo; he mentioned.</p>

<p>Thapa stressed that Nepal should prioritise on expanding its connectivity infrastructure with China. He also urged for a Sino-Nepal transit treaty. &ldquo;We must have a transit treaty with China at the earliest possible. The border blockade of 2015 has clearly pointed out to the need of such pact,&rdquo; he said, adding that China should provide landlocked Nepal with the access to the sea.</p>

<p>Thapa criticised the current government citing the lack of progress on various agreements with China that were signed by the erstwhile government led KP Sharma Oli.</p>

<p>Similarly, former minister and Naya Shakti Party leader Hisila Yami pointed out that Nepal should replace political diplomacy by economic diplomacy. &ldquo;The development of Tibet and expansion of roadways and railways in the areas near to Nepal-China border has pronounced much more opportunities for Nepal. It can be a vibrant bridge between China and India,&rdquo; she said. &ldquo;Connecting Nepal, China and India trilaterally would create a huge market of more than 2.6 billion people,&rdquo; Yami added.&nbsp;</p>

<p>Speaking at the event, Cui Guitian, Professor at Shandong University stressed on increasing the frequency of exchange of political delegations between China and Nepal to further bolster the bilateral relationship. &ldquo;The future of Sino-Nepal relationship depends on the level of engagement of political parties of both the countries,&rdquo; he said.&nbsp;</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
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			'created' => '2017-01-17',
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			'keywords' => '',
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			'sortorder' => '4974',
			'image' => '20170118102355_china nepal.jpg',
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	(int) 13 => array(
		'Article' => array(
			'id' => '5170',
			'article_category_id' => '1',
			'title' => 'Nyadi Hydropower Contract to Chinese Company Zhejiang',
			'sub_title' => '',
			'summary' => 'January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.',
			'content' => '<p style="text-align: justify;">January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.</p>

<p style="text-align: justify;">Issuing a press statement, the company informed that the contract was done as per EPC format. The Chinese company obtained the contract for civil, hydro mechanical and electro mechanical works. Rajeev Rajbhandari, Chairman of the company and Liu Koching, Chairman of the Zhejiang Hydropower signed the agreement paper on behalf of the respective organisation.</p>

<p style="text-align: justify;">According to the statement, the project will commence from coming February to complete within next 38 months. The company targets to operate the hydro project by 2020 April.</p>

<p style="text-align: justify;">Nyadi Hydropower is the joint venture of Butwal Power and Lamjung Electricity Development Company. It is also planning to issue shares to the local people of affected area and general investors in near future.</p>

<p style="text-align: justify;">&quot;The hydro project will have a consortium loan from Nabil, Global IME and Himalayan Bank headed by Everest Bank. Moreover, Hydropower Investment and Development Company will also be investing in the project,&quot; reads the statement.</p>

<p style="text-align: justify;">Similarly, the company informed that the tasks related with procurement of land for the project, construction of project access road, power purchase agreement, appointment of supervision consultant and financial management has already concluded.&nbsp;</p>
',
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			'created' => '2017-01-17',
			'modified' => '2017-01-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4973',
			'image' => '20170117034903_nyadi.jpg',
			'article_date' => '2017-01-17 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '5169',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Collects 55 Billion Revenue in 6 Months',
			'sub_title' => '',
			'summary' => 'January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.',
			'content' => '<p style="text-align: justify;">January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.</p>

<p style="text-align: justify;">&quot;The collected revenue is five per cent more than the target,&quot; said Sewantak Pokharel, Chief Customs Officer of Birgunj custom point. Department of Customs had given Rs 52.11 billion as revenue target to the customs office.</p>

<p style="text-align: justify;">During the review period of the last FY, the customs point collected Rs 14.74 billion in revenue. The collected revenue was just 44 per cent of the given target of that period. During the period, the customs collection was negatively affected by the Tarai unrest and border blockade. A total of Rs 33.59 billion revenue target was given to the office during the period, however, the disruption of import and export due to negative circumstances hindered the collection of revenue during the review period of last FY.</p>

<p style="text-align: justify;">As per the data of Birgunj Customs Office, it collected Rs 8.89 billion revenue in the month of Paush (mid-December to mid-January) against its target of Rs 8.66 billion for the month. Amongst the collected revenue, the office collected Rs 3.34 billion in customs duty, Rs 3.25 billion in VAT and Rs 1.96 billion in excise duty.</p>

<p style="text-align: justify;">According to Pokharel, vehicles and petroleum products have major contribution in the revenue collected from Birgunj Customs Office.&nbsp;&nbsp;</p>

<p style="text-align: justify;">In the first six months of the current FY, the customs point collected Rs 20.58 billion as customs duty, Rs 19.75 billion in VAT and Rs 11.54 billion in excise duty. The customs point is given a target of Rs 107 billion in revenue for the current FY ending in May. Pokharel claims that the annual target of the revenue will be easily achieved with the same pace of revenue collection.</p>

<p style="text-align: justify;">District wise, Parsa collects the largest amount of revenue due to the customs point in Birgunj. A businessman from Birgunj says although some industries shifted to other places, but as raw materials and consumer goods for Kathmandu come through this point, it has the largest contribution in revenue.&nbsp; &nbsp;Lalitpur district has second position in terms of revenue contribution, Rupandehi third and Kathmandu fourth.</p>

<p style="text-align: justify;">&nbsp;According to statistics of the Comptroller General&rsquo;s Office, the least contribution in revenue is from Dadeldhura, which stands at 0.1 percent. &nbsp;</p>
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$articles = array(
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		'Article' => array(
			'id' => '5183',
			'article_category_id' => '1',
			'title' => 'OPPO Opens 1st Service Centre at City Center',
			'sub_title' => '',
			'summary' => 'January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.  Issuing a press statement, the company has said that the service center is aimed at providing maintenance and s',
			'content' => '<p style="text-align: justify;">January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.</p>

<p style="text-align: justify;">Issuing a press statement, the company has said that the service center is aimed at providing maintenance and servicing of Oppo handsets sold in Nepal.</p>

<p style="text-align: justify;">&ldquo;Located at the shop number S10 at second floor of City Centre, the service centre will provide services to its valued customers throughout Sunday to Friday from 10 am to 6 pm,&rdquo; reads the statement. With the opening, Oppo has started a toll-free hotline number as well. The company informs that the customers can make queries and receive solutions to problems regarding their Oppo mobile phones by dialing 16600188886. &nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-01-19',
			'modified' => '2017-01-19',
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			'description' => '',
			'sortorder' => '4986',
			'image' => '20170119033704_oppo.jpg',
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		'Article' => array(
			'id' => '5182',
			'article_category_id' => '1',
			'title' => 'Repair of Upper Tamakoshi Dam Resumes After 22 Months',
			'sub_title' => '',
			'summary' => 'January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.',
			'content' => '<p style="text-align: justify;">January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.</p>

<p style="text-align: justify;">The construction works of dam area halted due to the disruption in the access road caused by the earthquake, took a pace after the construction of the tunnel road to the project.</p>

<p style="text-align: justify;">Sino Hydro, the main civil constructor of the project re-started the construction of the dam area under Lot-1 which was completed by 90 per cent earlier, said Dr. Ganesh Neupane, Spokesperson of the Upper Tamakoshi Hydropower Project.</p>

<p style="text-align: justify;">The concreting task in the &#39;Gate Hub&#39; of the left side started under the dam construction which started with a new working schedule, said the project.</p>

<p style="text-align: justify;">Dr Neupane informed that the installation of the gate used for the dam and related technology has also started. According to him, repair of dam, de-sander basin, installation of water controlling gates and other tasks have also been started.</p>

<p style="text-align: justify;">Previously, the consultant of the project had informed that the 60 meter long and 22 meter high dam bogged down by17 centimetres during the earthquake. &quot;Lahmeyer, the consultant company of the project has suggested using grouting technology to repair the sinkholes of the dam caused by the sink,&quot; said Neupane.</p>

<p style="text-align: justify;">According to the concerned employees of the project, the project under construction in Lamabagar of Dolakha district might generate 456 MW of electricity before its new completion schedule.</p>
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			'title' => 'Interbank Transaction between BFIs Other than Commercial Bank Increases',
			'sub_title' => '',
			'summary' => 'January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.',
			'content' => '<p style="text-align: justify;">January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.</p>

<p style="text-align: justify;">Meanwhile, the interbank transaction of commercial banks has increased by 1.5 times. The interbank transaction which was Rs 317 billion during the first five months of the last FY has increased to Rs 486 billion in the review period of the current FY, according to the current Macroeconomic and Financial Situation of Nepal based on five months&#39; data published by NRB.</p>

<p style="text-align: justify;">From the initial period of the current FY, the interbank transactions between BFIs were in increasing trend. The government&#39;s failure to carry out capital expenditure as per its target has lead to the liquidity crisis, said the bankers. With the shortage of investable money, the banks are collecting funds by increasing interest rate of deposits.</p>

<p style="text-align: justify;">With the increase in deposit interest rate, loan interest rate has also increased resulting deterioration of investment environment, as per the entrepreneurs. &nbsp;The investors who invest by taking loans from BFIs are not willing to take risk on increasing loan interest rate.</p>

<p style="text-align: justify;">Along with the interbank transaction, weighted average interest rate of interbank transaction has also increased. According to NRB, the weighted average interest rate of interbank transaction was 2.67 per cent by the mid-December 2016. During the same period of the last FY, such interest rate was 0.82 per cent while it was 3.59 per cent by the mid-November of the current FY.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4984',
			'image' => '20170119010741_interbank.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5180',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Starts Branch at Old Baneshwor',
			'sub_title' => '',
			'summary' => 'January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16th branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs. ',
			'content' => '<p style="text-align: justify;">January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16<sup>th</sup> branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4983',
			'image' => '20170119115131_laxmi branch.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5179',
			'article_category_id' => '1',
			'title' => 'Nepal bank Appoints Civil Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.  The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56th annual general meeting.',
			'content' => '<p style="text-align: justify;">January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.</p>

<p style="text-align: justify;">The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56<sup>th</sup> annual general meeting.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4982',
			'image' => '20170119114700_nepal bank.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5178',
			'article_category_id' => '1',
			'title' => 'Samsung to Launch Galaxy C9 Pro in Nepali Market',
			'sub_title' => '',
			'summary' => 'January 19: A South Korean multinational electronics company, Samsung is launching its new mobile phone model C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media, retailer of Samsung phone in Nepal, the company is planning to launch the mobile phone by the end of February.',
			'content' => '<p style="text-align:justify">January 19: South Korean multinational electronics company, Samsung is launching its new smartphone Samsung Galaxy C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media,&nbsp;the company is planning to launch the mobile phone by the end of February.</p>

<p style="text-align:justify">As per Khadka, the company will open advance booking for the phone from mid-February. The phone is powered by 4000mAh battery and 16MP rear&nbsp;camera with dual-LED (dual tone) flash. The phone comes with 6 GB RAM, 64 GB internal memory and Android Marshmallow operating system. The company informed that the phone will cost below Rs 60,000 in the domestic market.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4981',
			'image' => '20170119112129_samsung.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5177',
			'article_category_id' => '1',
			'title' => 'Government to Implement Exim Code  from Next FY',
			'sub_title' => '',
			'summary' => 'January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.  The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. "The mechanism is being implemented to discourage il',
			'content' => '<p style="text-align: justify;">January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.</p>

<p style="text-align: justify;">The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. &quot;The mechanism is being implemented to discourage illegal trade,&quot; said Devi Prasad Bhandari, Director of the Planning and Services Section of the Customs Department.</p>

<p style="text-align: justify;">Director Bhandari claims that the technology will further encourage legal foreign trade. He informed that the technical preparation has already been initiated for its implementation. According to the Department, registration of code will start from January 26. The exporters and importers can apply for registration through online.</p>

<p style="text-align: justify;">Although the Customs Act had already mechanised Exim Code for transparency in export and import, it is being implemented only after a decade. The Department has also interacted and collected suggestions from industrialists and entrepreneurs of major export-import hubs for its implementation. Bhandari informed that the entrepreneurs from Birgunj and Bhairahawa have been consulted for this. &quot;Series of discussions with stakeholders have been conducted for the purpose. Suggestions from the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) and Trade Facilitation Centre have also been drawn,&quot; he said.</p>

<p style="text-align: justify;">The preparation to introduce it has been started with an objective of increasing revenue recovery by systematizing and updating the statistics of the exporters and importers, said one official of the Department.</p>

<p style="text-align: justify;">Director Bhandari informed that the traders who import goods worth above Rs 25,000 will have to mandatorily obtain an Exim code. However, exporters need Exim code for exports of Rs 500,000 and above. Officials claim that the enforcement of the rule will help control fake firms and revenue leakage, and also introduce price uniformity in the market.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Presently, information of import is sent to the Nepali consulate in Kolkata through the Department of Commerce after opening letter of credit ( LC),&nbsp; and the consulate sends&nbsp; it to the Indian Customs with due process , &nbsp;and this process will be automatically shortened through this new technology, said Section Officer Arjun Poudel. A separate software is being prepared for this, he said.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Director Bhandari said this arrangement is effective worldwide as it discourages fake transactions besides saving time of the exporters and importers.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4980',
			'image' => '20170118045416_customs.JPG',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5176',
			'article_category_id' => '1',
			'title' => 'Inflation Cools, Economic Growth Target to be Met',
			'sub_title' => 'NRB’s Five-month Macroeconomic Report',
			'summary' => ' January 17:  The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.  In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.   According to the repo',
			'content' => '<p style="text-align: justify;">January 17: &nbsp;The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.&nbsp; In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.</p>

<p style="text-align: justify;">&nbsp;According to the report, the inflation was 11.6 percent in the last FY last and stood at 4.8 percent until October the current FY. NRB mentioned increasing of production activities in the country, ease in the supply system alongside the effective government monitoring of the market as factors attributing to the lowering of the inflation rate.</p>

<p style="text-align: justify;">Region wise, Kathmandu valley has the least inflation at 2.5 percent. &ldquo;This means that the market monitoring was effective,&rdquo; says one economist. As per the report, inflation rate in the hilly areas stood at 5.5 percent during the period while it was 3.7 percent in both mountainous regions and Terai plains.</p>

<p style="text-align: justify;">According to NRB, inflation in the food and non-food groups during the period were logged at 0.6 percent and 6.5 percent respectively. The food inflation and non-food inflation were 14.8 percent and 9.1 percent in the corresponding period of the last FY.&nbsp;</p>

<p style="text-align: justify;">&nbsp;In the current FY, the price of ghee and &nbsp;edible oil have come down by the highest 20.5 percent while it was lowest in pulses and beans at 6.6 percent.&nbsp; In fruit and food items, the prices came down by 2.4 percent and 1.1 percent respectively. However, the report points out that the inflation surged by 14.7 percent and 11.6 percent in sugar, sugar related products and alcoholic beverages respectively.&nbsp;</p>

<p style="text-align: justify;">According to NRB, the cooling of the inflation rate has also indicated that the economic growth could be attained as targeted by the budget and monetary policy of the current FY.</p>

<p style="text-align: justify;">&nbsp;The report states that targeted economic growth rate could be achieved in view of the favorable weather, improvement in energy supply and accelerating reconstruction works and steadily increasing remittance inflow. &ldquo;More than expected agricultural growth could support attaining the target of economic growth in 2017,&rdquo; NRB said in the report.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4979',
			'image' => null,
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5175',
			'article_category_id' => '1',
			'title' => 'Forward Community Microfinance's IPO through ASBA System',
			'sub_title' => '',
			'summary' => 'January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.',
			'content' => '<p style="text-align: justify;">January 18: General investors who are interested on Forward Community Microfinance&#39;s IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.</p>

<p style="text-align: justify;">&quot;ASBA was supposed to be implemented from January 14, however, there was no issuance of IPO or FPO during the first week. Thus the investors will get the services for the first time in Forward Community&#39;s IPO,&quot; said Niranjan Ghimire, Joint Spokesperson of SEBON. &quot;The system will simplify, ease and hassle free the process for investors, thus, we believe the participation will be encouraging,&quot; he added.</p>

<p style="text-align: justify;">Investors can apply for Forward Community Microfinance&#39;s IPO directly through their bank accounts of SEBON approved BFIs by paying certain charges. The investors can also submit their applications for free from Nabil Investment Banking, the issue manager of the IPO, in previous manner. However, under the system, investors can easily submit their application hassle-free by paying certain fee, he said.</p>

<p style="text-align: justify;">Under the system, investors will be charged Rs 150 per application under Rs 50,000and Rs 250 per application above Rs 50,000. SEBON clarifies that the system is not mandatory for now.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4978',
			'image' => '20170118015128_FORWARD_Community_.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5174',
			'article_category_id' => '1',
			'title' => 'BFIs let-go NRB Security Bills; Liquidity Crisis in Question',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Rastra Bank issued Rs 40 billion worth of 'Direct Purchase Auction Bidding' in a bid to address BIFs' complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold.  ',
			'content' => '<p style="text-align:justify">January 18: Nepal Rastra Bank issued Rs 40 billion worth of &#39;Direct Purchase Auction Bidding&#39; in a bid to address BIFs&#39; complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold. &nbsp;</p>

<p style="text-align:justify">&quot;The less participation of BFIs in the auction bidding of Rs 40 billion issued by the NRB to curve the liquidity crisis has doubted the existence of liquidity crisis in the market,&quot; said Chitamani Siwakoti, Deputy Governor of NRB. According to him, BFIs procured only Rs 1.90 billion of Rs 20 billion repo issued by the NRB previously. During the issuance of repo, BFIs viewed that the short term repo might not address the liquidity crisis.</p>

<p style="text-align:justify">&quot;As repo is for only 2 weeks period, we issued NRB Security Bills with the maturity period till May 26 and July 13 that can be directly purchased through auction bidding. However, it drew minimal participation.&quot; Only six BFIs participated in the auction bidding. As per Siwakoti, if there was real crisis of liquidity, BFIs would have procured the required amount for investment.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4977',
			'image' => '20170118125918_nrb.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5173',
			'article_category_id' => '1',
			'title' => 'Pathak Appointed as Deputy CEO of NCC',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.',
			'content' => '<p style="text-align:justify">January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4976',
			'image' => '20170118111527_ncc.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5172',
			'article_category_id' => '1',
			'title' => 'ADBL to  Start Mobile Banking Services',
			'sub_title' => '',
			'summary' => 'January 18: Agricultural Development Bank is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.',
			'content' => '<p style="text-align:justify">January 18: Agricultural Development Bank (ADBL)&nbsp;is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.</p>

<p style="text-align:justify">With the agreement, the bank will start &#39;ADBL Smart Banking&#39; mobile banking services for its customers. &nbsp;The bank said that the F1 has prepared software as per the requirements of the bank. According to the bank, the customers can now fill up the forms, get notifications of transactions, transfer money, request for statement and chequebooks, defer debit card and cheque, get information on loan interest and principal through ADBL Smart Banking Services or through online. Moreover, the bank informed that the customers initiating the service in the current year will not be charged annual fee.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4975',
			'image' => '20170118110307_agriculture.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 12 => array(
		'Article' => array(
			'id' => '5171',
			'article_category_id' => '1',
			'title' => 'Call for Increasing Engagement with China For Economic Prosperity',
			'sub_title' => '',
			'summary' => 'January 17: Former prime minister KP Sharma Oli has said that the ‘One Belt, One Road’ initiative taken by China can be largely beneficial to the Nepali economy',
			'content' => '<p>January 17: Former prime minister KP Sharma Oli has said that the &lsquo;One Belt, One Road&rsquo; initiative taken by China can be largely beneficial to the Nepali economy. He said that Nepal&rsquo;s engagement in restoring and reviving the ancient Silk Road route will usher the country into a new era of trade and connectivity.</p>

<p>Former PM Oli who is also the chairman of the main opposition party CPN-UML, made such remarks at the inaugural session of the China-Nepal Think-Tank Top Conference 2017 in Kathmandu that commenced today. The two-day conference is organised jointly by the Kathmandu Bureau of Xinhua News Agency, the official news agency of China and Nepal Study Center at Hebei University of Economics &amp; Business, China. The programme was chaired by Huang Youyi, Secretary General ofInternational Advisory Board of The Chahar Institute and Political Member of Chinese People Political Consultative Conference and its Foreign Affairs Committee.&nbsp;&nbsp;&nbsp;</p>

<p>Inaugurating the event, Oli thanked China for its policy of non-interference in Nepal&rsquo;s internal matters. &ldquo;I have found China very much willing and eager in supporting the development endeavours in Nepal,&rdquo; he mentioned. He said that despite the current difficult political situation, Nepal is headed towards a new and positive direction.</p>

<p>It is the first conference of China-Nepal Think Tank, a group comprising of eminent personalities from Nepal and China. According to the organisers, the objective of the event is to find ways to further strengthen the bilateral relationship between the two nations.</p>

<p>Speaking at the programme, former deputy prime minister and foreign minister Kamal Thapa charted out three factors impacting the Sino-Nepal relationship. &ldquo;First is the significant socio-economic transformation in China and Nepal. Second is the emergence of China and India as the world&rsquo;s economic powerhouses, and thirdly, the One Belt, One Road connectivity concept,&rdquo; he mentioned.</p>

<p>Thapa stressed that Nepal should prioritise on expanding its connectivity infrastructure with China. He also urged for a Sino-Nepal transit treaty. &ldquo;We must have a transit treaty with China at the earliest possible. The border blockade of 2015 has clearly pointed out to the need of such pact,&rdquo; he said, adding that China should provide landlocked Nepal with the access to the sea.</p>

<p>Thapa criticised the current government citing the lack of progress on various agreements with China that were signed by the erstwhile government led KP Sharma Oli.</p>

<p>Similarly, former minister and Naya Shakti Party leader Hisila Yami pointed out that Nepal should replace political diplomacy by economic diplomacy. &ldquo;The development of Tibet and expansion of roadways and railways in the areas near to Nepal-China border has pronounced much more opportunities for Nepal. It can be a vibrant bridge between China and India,&rdquo; she said. &ldquo;Connecting Nepal, China and India trilaterally would create a huge market of more than 2.6 billion people,&rdquo; Yami added.&nbsp;</p>

<p>Speaking at the event, Cui Guitian, Professor at Shandong University stressed on increasing the frequency of exchange of political delegations between China and Nepal to further bolster the bilateral relationship. &ldquo;The future of Sino-Nepal relationship depends on the level of engagement of political parties of both the countries,&rdquo; he said.&nbsp;</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-17',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4974',
			'image' => '20170118102355_china nepal.jpg',
			'article_date' => '2017-01-17 00:00:00',
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		'Article' => array(
			'id' => '5170',
			'article_category_id' => '1',
			'title' => 'Nyadi Hydropower Contract to Chinese Company Zhejiang',
			'sub_title' => '',
			'summary' => 'January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.',
			'content' => '<p style="text-align: justify;">January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.</p>

<p style="text-align: justify;">Issuing a press statement, the company informed that the contract was done as per EPC format. The Chinese company obtained the contract for civil, hydro mechanical and electro mechanical works. Rajeev Rajbhandari, Chairman of the company and Liu Koching, Chairman of the Zhejiang Hydropower signed the agreement paper on behalf of the respective organisation.</p>

<p style="text-align: justify;">According to the statement, the project will commence from coming February to complete within next 38 months. The company targets to operate the hydro project by 2020 April.</p>

<p style="text-align: justify;">Nyadi Hydropower is the joint venture of Butwal Power and Lamjung Electricity Development Company. It is also planning to issue shares to the local people of affected area and general investors in near future.</p>

<p style="text-align: justify;">&quot;The hydro project will have a consortium loan from Nabil, Global IME and Himalayan Bank headed by Everest Bank. Moreover, Hydropower Investment and Development Company will also be investing in the project,&quot; reads the statement.</p>

<p style="text-align: justify;">Similarly, the company informed that the tasks related with procurement of land for the project, construction of project access road, power purchase agreement, appointment of supervision consultant and financial management has already concluded.&nbsp;</p>
',
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			'created' => '2017-01-17',
			'modified' => '2017-01-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4973',
			'image' => '20170117034903_nyadi.jpg',
			'article_date' => '2017-01-17 00:00:00',
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		'Article' => array(
			'id' => '5169',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Collects 55 Billion Revenue in 6 Months',
			'sub_title' => '',
			'summary' => 'January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.',
			'content' => '<p style="text-align: justify;">January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.</p>

<p style="text-align: justify;">&quot;The collected revenue is five per cent more than the target,&quot; said Sewantak Pokharel, Chief Customs Officer of Birgunj custom point. Department of Customs had given Rs 52.11 billion as revenue target to the customs office.</p>

<p style="text-align: justify;">During the review period of the last FY, the customs point collected Rs 14.74 billion in revenue. The collected revenue was just 44 per cent of the given target of that period. During the period, the customs collection was negatively affected by the Tarai unrest and border blockade. A total of Rs 33.59 billion revenue target was given to the office during the period, however, the disruption of import and export due to negative circumstances hindered the collection of revenue during the review period of last FY.</p>

<p style="text-align: justify;">As per the data of Birgunj Customs Office, it collected Rs 8.89 billion revenue in the month of Paush (mid-December to mid-January) against its target of Rs 8.66 billion for the month. Amongst the collected revenue, the office collected Rs 3.34 billion in customs duty, Rs 3.25 billion in VAT and Rs 1.96 billion in excise duty.</p>

<p style="text-align: justify;">According to Pokharel, vehicles and petroleum products have major contribution in the revenue collected from Birgunj Customs Office.&nbsp;&nbsp;</p>

<p style="text-align: justify;">In the first six months of the current FY, the customs point collected Rs 20.58 billion as customs duty, Rs 19.75 billion in VAT and Rs 11.54 billion in excise duty. The customs point is given a target of Rs 107 billion in revenue for the current FY ending in May. Pokharel claims that the annual target of the revenue will be easily achieved with the same pace of revenue collection.</p>

<p style="text-align: justify;">District wise, Parsa collects the largest amount of revenue due to the customs point in Birgunj. A businessman from Birgunj says although some industries shifted to other places, but as raw materials and consumer goods for Kathmandu come through this point, it has the largest contribution in revenue.&nbsp; &nbsp;Lalitpur district has second position in terms of revenue contribution, Rupandehi third and Kathmandu fourth.</p>

<p style="text-align: justify;">&nbsp;According to statistics of the Comptroller General&rsquo;s Office, the least contribution in revenue is from Dadeldhura, which stands at 0.1 percent. &nbsp;</p>
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	(int) 0 => array(
		'Article' => array(
			'id' => '5183',
			'article_category_id' => '1',
			'title' => 'OPPO Opens 1st Service Centre at City Center',
			'sub_title' => '',
			'summary' => 'January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.  Issuing a press statement, the company has said that the service center is aimed at providing maintenance and s',
			'content' => '<p style="text-align: justify;">January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.</p>

<p style="text-align: justify;">Issuing a press statement, the company has said that the service center is aimed at providing maintenance and servicing of Oppo handsets sold in Nepal.</p>

<p style="text-align: justify;">&ldquo;Located at the shop number S10 at second floor of City Centre, the service centre will provide services to its valued customers throughout Sunday to Friday from 10 am to 6 pm,&rdquo; reads the statement. With the opening, Oppo has started a toll-free hotline number as well. The company informs that the customers can make queries and receive solutions to problems regarding their Oppo mobile phones by dialing 16600188886. &nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4986',
			'image' => '20170119033704_oppo.jpg',
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		'Article' => array(
			'id' => '5182',
			'article_category_id' => '1',
			'title' => 'Repair of Upper Tamakoshi Dam Resumes After 22 Months',
			'sub_title' => '',
			'summary' => 'January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.',
			'content' => '<p style="text-align: justify;">January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.</p>

<p style="text-align: justify;">The construction works of dam area halted due to the disruption in the access road caused by the earthquake, took a pace after the construction of the tunnel road to the project.</p>

<p style="text-align: justify;">Sino Hydro, the main civil constructor of the project re-started the construction of the dam area under Lot-1 which was completed by 90 per cent earlier, said Dr. Ganesh Neupane, Spokesperson of the Upper Tamakoshi Hydropower Project.</p>

<p style="text-align: justify;">The concreting task in the &#39;Gate Hub&#39; of the left side started under the dam construction which started with a new working schedule, said the project.</p>

<p style="text-align: justify;">Dr Neupane informed that the installation of the gate used for the dam and related technology has also started. According to him, repair of dam, de-sander basin, installation of water controlling gates and other tasks have also been started.</p>

<p style="text-align: justify;">Previously, the consultant of the project had informed that the 60 meter long and 22 meter high dam bogged down by17 centimetres during the earthquake. &quot;Lahmeyer, the consultant company of the project has suggested using grouting technology to repair the sinkholes of the dam caused by the sink,&quot; said Neupane.</p>

<p style="text-align: justify;">According to the concerned employees of the project, the project under construction in Lamabagar of Dolakha district might generate 456 MW of electricity before its new completion schedule.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4985',
			'image' => '20170119031439_upper tamakoshi.jpg',
			'article_date' => '2017-01-19 00:00:00',
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		'Article' => array(
			'id' => '5181',
			'article_category_id' => '1',
			'title' => 'Interbank Transaction between BFIs Other than Commercial Bank Increases',
			'sub_title' => '',
			'summary' => 'January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.',
			'content' => '<p style="text-align: justify;">January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.</p>

<p style="text-align: justify;">Meanwhile, the interbank transaction of commercial banks has increased by 1.5 times. The interbank transaction which was Rs 317 billion during the first five months of the last FY has increased to Rs 486 billion in the review period of the current FY, according to the current Macroeconomic and Financial Situation of Nepal based on five months&#39; data published by NRB.</p>

<p style="text-align: justify;">From the initial period of the current FY, the interbank transactions between BFIs were in increasing trend. The government&#39;s failure to carry out capital expenditure as per its target has lead to the liquidity crisis, said the bankers. With the shortage of investable money, the banks are collecting funds by increasing interest rate of deposits.</p>

<p style="text-align: justify;">With the increase in deposit interest rate, loan interest rate has also increased resulting deterioration of investment environment, as per the entrepreneurs. &nbsp;The investors who invest by taking loans from BFIs are not willing to take risk on increasing loan interest rate.</p>

<p style="text-align: justify;">Along with the interbank transaction, weighted average interest rate of interbank transaction has also increased. According to NRB, the weighted average interest rate of interbank transaction was 2.67 per cent by the mid-December 2016. During the same period of the last FY, such interest rate was 0.82 per cent while it was 3.59 per cent by the mid-November of the current FY.&nbsp;</p>
',
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			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4984',
			'image' => '20170119010741_interbank.jpg',
			'article_date' => '2017-01-19 00:00:00',
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	(int) 3 => array(
		'Article' => array(
			'id' => '5180',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Starts Branch at Old Baneshwor',
			'sub_title' => '',
			'summary' => 'January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16th branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs. ',
			'content' => '<p style="text-align: justify;">January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16<sup>th</sup> branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4983',
			'image' => '20170119115131_laxmi branch.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '5179',
			'article_category_id' => '1',
			'title' => 'Nepal bank Appoints Civil Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.  The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56th annual general meeting.',
			'content' => '<p style="text-align: justify;">January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.</p>

<p style="text-align: justify;">The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56<sup>th</sup> annual general meeting.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4982',
			'image' => '20170119114700_nepal bank.jpg',
			'article_date' => '2017-01-19 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '5178',
			'article_category_id' => '1',
			'title' => 'Samsung to Launch Galaxy C9 Pro in Nepali Market',
			'sub_title' => '',
			'summary' => 'January 19: A South Korean multinational electronics company, Samsung is launching its new mobile phone model C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media, retailer of Samsung phone in Nepal, the company is planning to launch the mobile phone by the end of February.',
			'content' => '<p style="text-align:justify">January 19: South Korean multinational electronics company, Samsung is launching its new smartphone Samsung Galaxy C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media,&nbsp;the company is planning to launch the mobile phone by the end of February.</p>

<p style="text-align:justify">As per Khadka, the company will open advance booking for the phone from mid-February. The phone is powered by 4000mAh battery and 16MP rear&nbsp;camera with dual-LED (dual tone) flash. The phone comes with 6 GB RAM, 64 GB internal memory and Android Marshmallow operating system. The company informed that the phone will cost below Rs 60,000 in the domestic market.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4981',
			'image' => '20170119112129_samsung.jpg',
			'article_date' => '2017-01-19 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '5177',
			'article_category_id' => '1',
			'title' => 'Government to Implement Exim Code  from Next FY',
			'sub_title' => '',
			'summary' => 'January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.  The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. "The mechanism is being implemented to discourage il',
			'content' => '<p style="text-align: justify;">January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.</p>

<p style="text-align: justify;">The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. &quot;The mechanism is being implemented to discourage illegal trade,&quot; said Devi Prasad Bhandari, Director of the Planning and Services Section of the Customs Department.</p>

<p style="text-align: justify;">Director Bhandari claims that the technology will further encourage legal foreign trade. He informed that the technical preparation has already been initiated for its implementation. According to the Department, registration of code will start from January 26. The exporters and importers can apply for registration through online.</p>

<p style="text-align: justify;">Although the Customs Act had already mechanised Exim Code for transparency in export and import, it is being implemented only after a decade. The Department has also interacted and collected suggestions from industrialists and entrepreneurs of major export-import hubs for its implementation. Bhandari informed that the entrepreneurs from Birgunj and Bhairahawa have been consulted for this. &quot;Series of discussions with stakeholders have been conducted for the purpose. Suggestions from the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) and Trade Facilitation Centre have also been drawn,&quot; he said.</p>

<p style="text-align: justify;">The preparation to introduce it has been started with an objective of increasing revenue recovery by systematizing and updating the statistics of the exporters and importers, said one official of the Department.</p>

<p style="text-align: justify;">Director Bhandari informed that the traders who import goods worth above Rs 25,000 will have to mandatorily obtain an Exim code. However, exporters need Exim code for exports of Rs 500,000 and above. Officials claim that the enforcement of the rule will help control fake firms and revenue leakage, and also introduce price uniformity in the market.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Presently, information of import is sent to the Nepali consulate in Kolkata through the Department of Commerce after opening letter of credit ( LC),&nbsp; and the consulate sends&nbsp; it to the Indian Customs with due process , &nbsp;and this process will be automatically shortened through this new technology, said Section Officer Arjun Poudel. A separate software is being prepared for this, he said.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Director Bhandari said this arrangement is effective worldwide as it discourages fake transactions besides saving time of the exporters and importers.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4980',
			'image' => '20170118045416_customs.JPG',
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	(int) 7 => array(
		'Article' => array(
			'id' => '5176',
			'article_category_id' => '1',
			'title' => 'Inflation Cools, Economic Growth Target to be Met',
			'sub_title' => 'NRB’s Five-month Macroeconomic Report',
			'summary' => ' January 17:  The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.  In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.   According to the repo',
			'content' => '<p style="text-align: justify;">January 17: &nbsp;The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.&nbsp; In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.</p>

<p style="text-align: justify;">&nbsp;According to the report, the inflation was 11.6 percent in the last FY last and stood at 4.8 percent until October the current FY. NRB mentioned increasing of production activities in the country, ease in the supply system alongside the effective government monitoring of the market as factors attributing to the lowering of the inflation rate.</p>

<p style="text-align: justify;">Region wise, Kathmandu valley has the least inflation at 2.5 percent. &ldquo;This means that the market monitoring was effective,&rdquo; says one economist. As per the report, inflation rate in the hilly areas stood at 5.5 percent during the period while it was 3.7 percent in both mountainous regions and Terai plains.</p>

<p style="text-align: justify;">According to NRB, inflation in the food and non-food groups during the period were logged at 0.6 percent and 6.5 percent respectively. The food inflation and non-food inflation were 14.8 percent and 9.1 percent in the corresponding period of the last FY.&nbsp;</p>

<p style="text-align: justify;">&nbsp;In the current FY, the price of ghee and &nbsp;edible oil have come down by the highest 20.5 percent while it was lowest in pulses and beans at 6.6 percent.&nbsp; In fruit and food items, the prices came down by 2.4 percent and 1.1 percent respectively. However, the report points out that the inflation surged by 14.7 percent and 11.6 percent in sugar, sugar related products and alcoholic beverages respectively.&nbsp;</p>

<p style="text-align: justify;">According to NRB, the cooling of the inflation rate has also indicated that the economic growth could be attained as targeted by the budget and monetary policy of the current FY.</p>

<p style="text-align: justify;">&nbsp;The report states that targeted economic growth rate could be achieved in view of the favorable weather, improvement in energy supply and accelerating reconstruction works and steadily increasing remittance inflow. &ldquo;More than expected agricultural growth could support attaining the target of economic growth in 2017,&rdquo; NRB said in the report.&nbsp;&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '5175',
			'article_category_id' => '1',
			'title' => 'Forward Community Microfinance's IPO through ASBA System',
			'sub_title' => '',
			'summary' => 'January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.',
			'content' => '<p style="text-align: justify;">January 18: General investors who are interested on Forward Community Microfinance&#39;s IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.</p>

<p style="text-align: justify;">&quot;ASBA was supposed to be implemented from January 14, however, there was no issuance of IPO or FPO during the first week. Thus the investors will get the services for the first time in Forward Community&#39;s IPO,&quot; said Niranjan Ghimire, Joint Spokesperson of SEBON. &quot;The system will simplify, ease and hassle free the process for investors, thus, we believe the participation will be encouraging,&quot; he added.</p>

<p style="text-align: justify;">Investors can apply for Forward Community Microfinance&#39;s IPO directly through their bank accounts of SEBON approved BFIs by paying certain charges. The investors can also submit their applications for free from Nabil Investment Banking, the issue manager of the IPO, in previous manner. However, under the system, investors can easily submit their application hassle-free by paying certain fee, he said.</p>

<p style="text-align: justify;">Under the system, investors will be charged Rs 150 per application under Rs 50,000and Rs 250 per application above Rs 50,000. SEBON clarifies that the system is not mandatory for now.&nbsp;</p>
',
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			'sortorder' => '4978',
			'image' => '20170118015128_FORWARD_Community_.jpg',
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		'Article' => array(
			'id' => '5174',
			'article_category_id' => '1',
			'title' => 'BFIs let-go NRB Security Bills; Liquidity Crisis in Question',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Rastra Bank issued Rs 40 billion worth of 'Direct Purchase Auction Bidding' in a bid to address BIFs' complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold.  ',
			'content' => '<p style="text-align:justify">January 18: Nepal Rastra Bank issued Rs 40 billion worth of &#39;Direct Purchase Auction Bidding&#39; in a bid to address BIFs&#39; complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold. &nbsp;</p>

<p style="text-align:justify">&quot;The less participation of BFIs in the auction bidding of Rs 40 billion issued by the NRB to curve the liquidity crisis has doubted the existence of liquidity crisis in the market,&quot; said Chitamani Siwakoti, Deputy Governor of NRB. According to him, BFIs procured only Rs 1.90 billion of Rs 20 billion repo issued by the NRB previously. During the issuance of repo, BFIs viewed that the short term repo might not address the liquidity crisis.</p>

<p style="text-align:justify">&quot;As repo is for only 2 weeks period, we issued NRB Security Bills with the maturity period till May 26 and July 13 that can be directly purchased through auction bidding. However, it drew minimal participation.&quot; Only six BFIs participated in the auction bidding. As per Siwakoti, if there was real crisis of liquidity, BFIs would have procured the required amount for investment.&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '5173',
			'article_category_id' => '1',
			'title' => 'Pathak Appointed as Deputy CEO of NCC',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.',
			'content' => '<p style="text-align:justify">January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.</p>
',
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			'created' => '2017-01-18',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4976',
			'image' => '20170118111527_ncc.jpg',
			'article_date' => '2017-01-18 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '5172',
			'article_category_id' => '1',
			'title' => 'ADBL to  Start Mobile Banking Services',
			'sub_title' => '',
			'summary' => 'January 18: Agricultural Development Bank is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.',
			'content' => '<p style="text-align:justify">January 18: Agricultural Development Bank (ADBL)&nbsp;is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.</p>

<p style="text-align:justify">With the agreement, the bank will start &#39;ADBL Smart Banking&#39; mobile banking services for its customers. &nbsp;The bank said that the F1 has prepared software as per the requirements of the bank. According to the bank, the customers can now fill up the forms, get notifications of transactions, transfer money, request for statement and chequebooks, defer debit card and cheque, get information on loan interest and principal through ADBL Smart Banking Services or through online. Moreover, the bank informed that the customers initiating the service in the current year will not be charged annual fee.&nbsp;</p>
',
			'published' => true,
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			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4975',
			'image' => '20170118110307_agriculture.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '5171',
			'article_category_id' => '1',
			'title' => 'Call for Increasing Engagement with China For Economic Prosperity',
			'sub_title' => '',
			'summary' => 'January 17: Former prime minister KP Sharma Oli has said that the ‘One Belt, One Road’ initiative taken by China can be largely beneficial to the Nepali economy',
			'content' => '<p>January 17: Former prime minister KP Sharma Oli has said that the &lsquo;One Belt, One Road&rsquo; initiative taken by China can be largely beneficial to the Nepali economy. He said that Nepal&rsquo;s engagement in restoring and reviving the ancient Silk Road route will usher the country into a new era of trade and connectivity.</p>

<p>Former PM Oli who is also the chairman of the main opposition party CPN-UML, made such remarks at the inaugural session of the China-Nepal Think-Tank Top Conference 2017 in Kathmandu that commenced today. The two-day conference is organised jointly by the Kathmandu Bureau of Xinhua News Agency, the official news agency of China and Nepal Study Center at Hebei University of Economics &amp; Business, China. The programme was chaired by Huang Youyi, Secretary General ofInternational Advisory Board of The Chahar Institute and Political Member of Chinese People Political Consultative Conference and its Foreign Affairs Committee.&nbsp;&nbsp;&nbsp;</p>

<p>Inaugurating the event, Oli thanked China for its policy of non-interference in Nepal&rsquo;s internal matters. &ldquo;I have found China very much willing and eager in supporting the development endeavours in Nepal,&rdquo; he mentioned. He said that despite the current difficult political situation, Nepal is headed towards a new and positive direction.</p>

<p>It is the first conference of China-Nepal Think Tank, a group comprising of eminent personalities from Nepal and China. According to the organisers, the objective of the event is to find ways to further strengthen the bilateral relationship between the two nations.</p>

<p>Speaking at the programme, former deputy prime minister and foreign minister Kamal Thapa charted out three factors impacting the Sino-Nepal relationship. &ldquo;First is the significant socio-economic transformation in China and Nepal. Second is the emergence of China and India as the world&rsquo;s economic powerhouses, and thirdly, the One Belt, One Road connectivity concept,&rdquo; he mentioned.</p>

<p>Thapa stressed that Nepal should prioritise on expanding its connectivity infrastructure with China. He also urged for a Sino-Nepal transit treaty. &ldquo;We must have a transit treaty with China at the earliest possible. The border blockade of 2015 has clearly pointed out to the need of such pact,&rdquo; he said, adding that China should provide landlocked Nepal with the access to the sea.</p>

<p>Thapa criticised the current government citing the lack of progress on various agreements with China that were signed by the erstwhile government led KP Sharma Oli.</p>

<p>Similarly, former minister and Naya Shakti Party leader Hisila Yami pointed out that Nepal should replace political diplomacy by economic diplomacy. &ldquo;The development of Tibet and expansion of roadways and railways in the areas near to Nepal-China border has pronounced much more opportunities for Nepal. It can be a vibrant bridge between China and India,&rdquo; she said. &ldquo;Connecting Nepal, China and India trilaterally would create a huge market of more than 2.6 billion people,&rdquo; Yami added.&nbsp;</p>

<p>Speaking at the event, Cui Guitian, Professor at Shandong University stressed on increasing the frequency of exchange of political delegations between China and Nepal to further bolster the bilateral relationship. &ldquo;The future of Sino-Nepal relationship depends on the level of engagement of political parties of both the countries,&rdquo; he said.&nbsp;</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
',
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			'sortorder' => '4974',
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	(int) 13 => array(
		'Article' => array(
			'id' => '5170',
			'article_category_id' => '1',
			'title' => 'Nyadi Hydropower Contract to Chinese Company Zhejiang',
			'sub_title' => '',
			'summary' => 'January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.',
			'content' => '<p style="text-align: justify;">January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.</p>

<p style="text-align: justify;">Issuing a press statement, the company informed that the contract was done as per EPC format. The Chinese company obtained the contract for civil, hydro mechanical and electro mechanical works. Rajeev Rajbhandari, Chairman of the company and Liu Koching, Chairman of the Zhejiang Hydropower signed the agreement paper on behalf of the respective organisation.</p>

<p style="text-align: justify;">According to the statement, the project will commence from coming February to complete within next 38 months. The company targets to operate the hydro project by 2020 April.</p>

<p style="text-align: justify;">Nyadi Hydropower is the joint venture of Butwal Power and Lamjung Electricity Development Company. It is also planning to issue shares to the local people of affected area and general investors in near future.</p>

<p style="text-align: justify;">&quot;The hydro project will have a consortium loan from Nabil, Global IME and Himalayan Bank headed by Everest Bank. Moreover, Hydropower Investment and Development Company will also be investing in the project,&quot; reads the statement.</p>

<p style="text-align: justify;">Similarly, the company informed that the tasks related with procurement of land for the project, construction of project access road, power purchase agreement, appointment of supervision consultant and financial management has already concluded.&nbsp;</p>
',
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			'created' => '2017-01-17',
			'modified' => '2017-01-17',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4973',
			'image' => '20170117034903_nyadi.jpg',
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	(int) 14 => array(
		'Article' => array(
			'id' => '5169',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Collects 55 Billion Revenue in 6 Months',
			'sub_title' => '',
			'summary' => 'January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.',
			'content' => '<p style="text-align: justify;">January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.</p>

<p style="text-align: justify;">&quot;The collected revenue is five per cent more than the target,&quot; said Sewantak Pokharel, Chief Customs Officer of Birgunj custom point. Department of Customs had given Rs 52.11 billion as revenue target to the customs office.</p>

<p style="text-align: justify;">During the review period of the last FY, the customs point collected Rs 14.74 billion in revenue. The collected revenue was just 44 per cent of the given target of that period. During the period, the customs collection was negatively affected by the Tarai unrest and border blockade. A total of Rs 33.59 billion revenue target was given to the office during the period, however, the disruption of import and export due to negative circumstances hindered the collection of revenue during the review period of last FY.</p>

<p style="text-align: justify;">As per the data of Birgunj Customs Office, it collected Rs 8.89 billion revenue in the month of Paush (mid-December to mid-January) against its target of Rs 8.66 billion for the month. Amongst the collected revenue, the office collected Rs 3.34 billion in customs duty, Rs 3.25 billion in VAT and Rs 1.96 billion in excise duty.</p>

<p style="text-align: justify;">According to Pokharel, vehicles and petroleum products have major contribution in the revenue collected from Birgunj Customs Office.&nbsp;&nbsp;</p>

<p style="text-align: justify;">In the first six months of the current FY, the customs point collected Rs 20.58 billion as customs duty, Rs 19.75 billion in VAT and Rs 11.54 billion in excise duty. The customs point is given a target of Rs 107 billion in revenue for the current FY ending in May. Pokharel claims that the annual target of the revenue will be easily achieved with the same pace of revenue collection.</p>

<p style="text-align: justify;">District wise, Parsa collects the largest amount of revenue due to the customs point in Birgunj. A businessman from Birgunj says although some industries shifted to other places, but as raw materials and consumer goods for Kathmandu come through this point, it has the largest contribution in revenue.&nbsp; &nbsp;Lalitpur district has second position in terms of revenue contribution, Rupandehi third and Kathmandu fourth.</p>

<p style="text-align: justify;">&nbsp;According to statistics of the Comptroller General&rsquo;s Office, the least contribution in revenue is from Dadeldhura, which stands at 0.1 percent. &nbsp;</p>
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$articles = array(
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		'Article' => array(
			'id' => '5183',
			'article_category_id' => '1',
			'title' => 'OPPO Opens 1st Service Centre at City Center',
			'sub_title' => '',
			'summary' => 'January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.  Issuing a press statement, the company has said that the service center is aimed at providing maintenance and s',
			'content' => '<p style="text-align: justify;">January 19: The Chinese smartphone brand Oppo has opened its first customer service center at City Center, Kamalpokhari.</p>

<p style="text-align: justify;">Issuing a press statement, the company has said that the service center is aimed at providing maintenance and servicing of Oppo handsets sold in Nepal.</p>

<p style="text-align: justify;">&ldquo;Located at the shop number S10 at second floor of City Centre, the service centre will provide services to its valued customers throughout Sunday to Friday from 10 am to 6 pm,&rdquo; reads the statement. With the opening, Oppo has started a toll-free hotline number as well. The company informs that the customers can make queries and receive solutions to problems regarding their Oppo mobile phones by dialing 16600188886. &nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2017-01-19',
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			'sortorder' => '4986',
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			'id' => '5182',
			'article_category_id' => '1',
			'title' => 'Repair of Upper Tamakoshi Dam Resumes After 22 Months',
			'sub_title' => '',
			'summary' => 'January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.',
			'content' => '<p style="text-align: justify;">January 19: Repair of the dam area of the under construction Upper Tamakoshi Hydropower project which was destroyed by the devastating earthquake of April 25, 2015 has now started.</p>

<p style="text-align: justify;">The construction works of dam area halted due to the disruption in the access road caused by the earthquake, took a pace after the construction of the tunnel road to the project.</p>

<p style="text-align: justify;">Sino Hydro, the main civil constructor of the project re-started the construction of the dam area under Lot-1 which was completed by 90 per cent earlier, said Dr. Ganesh Neupane, Spokesperson of the Upper Tamakoshi Hydropower Project.</p>

<p style="text-align: justify;">The concreting task in the &#39;Gate Hub&#39; of the left side started under the dam construction which started with a new working schedule, said the project.</p>

<p style="text-align: justify;">Dr Neupane informed that the installation of the gate used for the dam and related technology has also started. According to him, repair of dam, de-sander basin, installation of water controlling gates and other tasks have also been started.</p>

<p style="text-align: justify;">Previously, the consultant of the project had informed that the 60 meter long and 22 meter high dam bogged down by17 centimetres during the earthquake. &quot;Lahmeyer, the consultant company of the project has suggested using grouting technology to repair the sinkholes of the dam caused by the sink,&quot; said Neupane.</p>

<p style="text-align: justify;">According to the concerned employees of the project, the project under construction in Lamabagar of Dolakha district might generate 456 MW of electricity before its new completion schedule.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4985',
			'image' => '20170119031439_upper tamakoshi.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	),
	(int) 2 => array(
		'Article' => array(
			'id' => '5181',
			'article_category_id' => '1',
			'title' => 'Interbank Transaction between BFIs Other than Commercial Bank Increases',
			'sub_title' => '',
			'summary' => 'January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.',
			'content' => '<p style="text-align: justify;">January 19: In the first five months of the current FY, the interbank transaction of banks and financial institutions (BFIs) other than commercial banks has increased by four times. In the review period of the last FY, these BFIs carried out Rs 30.78 billion worth of interbank transactions whereas in the same period of the current FY, such amount is Rs 171.88 billion. It indicates of greater liquidity crisis in these BFIs than in commercial banks.</p>

<p style="text-align: justify;">Meanwhile, the interbank transaction of commercial banks has increased by 1.5 times. The interbank transaction which was Rs 317 billion during the first five months of the last FY has increased to Rs 486 billion in the review period of the current FY, according to the current Macroeconomic and Financial Situation of Nepal based on five months&#39; data published by NRB.</p>

<p style="text-align: justify;">From the initial period of the current FY, the interbank transactions between BFIs were in increasing trend. The government&#39;s failure to carry out capital expenditure as per its target has lead to the liquidity crisis, said the bankers. With the shortage of investable money, the banks are collecting funds by increasing interest rate of deposits.</p>

<p style="text-align: justify;">With the increase in deposit interest rate, loan interest rate has also increased resulting deterioration of investment environment, as per the entrepreneurs. &nbsp;The investors who invest by taking loans from BFIs are not willing to take risk on increasing loan interest rate.</p>

<p style="text-align: justify;">Along with the interbank transaction, weighted average interest rate of interbank transaction has also increased. According to NRB, the weighted average interest rate of interbank transaction was 2.67 per cent by the mid-December 2016. During the same period of the last FY, such interest rate was 0.82 per cent while it was 3.59 per cent by the mid-November of the current FY.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4984',
			'image' => '20170119010741_interbank.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '5180',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Starts Branch at Old Baneshwor',
			'sub_title' => '',
			'summary' => 'January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16th branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs. ',
			'content' => '<p style="text-align: justify;">January 19: Laxmi Bank has started a new branch at Old Baneshwor of Kathmandu. The branch which was inaugurated on Wednesday, January 18 is the 16<sup>th</sup> branch of the bank. With the addition, the network of the bank has expanded to 65 branches, three extension counters and 81 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4983',
			'image' => '20170119115131_laxmi branch.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '5179',
			'article_category_id' => '1',
			'title' => 'Nepal bank Appoints Civil Capital as Issue Manager',
			'sub_title' => '',
			'summary' => 'January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.  The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56th annual general meeting.',
			'content' => '<p style="text-align: justify;">January 19: Nepal Bank has appointed Civil Capital as its Issue Manager. Devendra Pratap Shah, CEO of Nepal Bank and Parag Bista, CEO of Civil Capital signed the agreement on behalf of their respective organisations amid a program on January 18.</p>

<p style="text-align: justify;">The bank is preparing to issue 23.74 percent right shares of its total paid-up capital as per the decision of its 56<sup>th</sup> annual general meeting.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4982',
			'image' => '20170119114700_nepal bank.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '5178',
			'article_category_id' => '1',
			'title' => 'Samsung to Launch Galaxy C9 Pro in Nepali Market',
			'sub_title' => '',
			'summary' => 'January 19: A South Korean multinational electronics company, Samsung is launching its new mobile phone model C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media, retailer of Samsung phone in Nepal, the company is planning to launch the mobile phone by the end of February.',
			'content' => '<p style="text-align:justify">January 19: South Korean multinational electronics company, Samsung is launching its new smartphone Samsung Galaxy C9 Pro in the Nepali market soon. According to Geeta Khadka, Media Planning Manager of Max Media,&nbsp;the company is planning to launch the mobile phone by the end of February.</p>

<p style="text-align:justify">As per Khadka, the company will open advance booking for the phone from mid-February. The phone is powered by 4000mAh battery and 16MP rear&nbsp;camera with dual-LED (dual tone) flash. The phone comes with 6 GB RAM, 64 GB internal memory and Android Marshmallow operating system. The company informed that the phone will cost below Rs 60,000 in the domestic market.</p>
',
			'published' => true,
			'created' => '2017-01-19',
			'modified' => '2017-01-19',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4981',
			'image' => '20170119112129_samsung.jpg',
			'article_date' => '2017-01-19 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '5177',
			'article_category_id' => '1',
			'title' => 'Government to Implement Exim Code  from Next FY',
			'sub_title' => '',
			'summary' => 'January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.  The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. "The mechanism is being implemented to discourage il',
			'content' => '<p style="text-align: justify;">January 18: The government is planning to implement Exim Code from next fiscal year (2017-18) in a bid to make foreign trade transparent and effective.</p>

<p style="text-align: justify;">The mechanism is being implemented from the next fiscal year starting in July to systematize the export-import trade with India and third countries. According to the Customs Department, exporters and importers will have to obtain Exim code first for their export and import. &quot;The mechanism is being implemented to discourage illegal trade,&quot; said Devi Prasad Bhandari, Director of the Planning and Services Section of the Customs Department.</p>

<p style="text-align: justify;">Director Bhandari claims that the technology will further encourage legal foreign trade. He informed that the technical preparation has already been initiated for its implementation. According to the Department, registration of code will start from January 26. The exporters and importers can apply for registration through online.</p>

<p style="text-align: justify;">Although the Customs Act had already mechanised Exim Code for transparency in export and import, it is being implemented only after a decade. The Department has also interacted and collected suggestions from industrialists and entrepreneurs of major export-import hubs for its implementation. Bhandari informed that the entrepreneurs from Birgunj and Bhairahawa have been consulted for this. &quot;Series of discussions with stakeholders have been conducted for the purpose. Suggestions from the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) and Trade Facilitation Centre have also been drawn,&quot; he said.</p>

<p style="text-align: justify;">The preparation to introduce it has been started with an objective of increasing revenue recovery by systematizing and updating the statistics of the exporters and importers, said one official of the Department.</p>

<p style="text-align: justify;">Director Bhandari informed that the traders who import goods worth above Rs 25,000 will have to mandatorily obtain an Exim code. However, exporters need Exim code for exports of Rs 500,000 and above. Officials claim that the enforcement of the rule will help control fake firms and revenue leakage, and also introduce price uniformity in the market.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Presently, information of import is sent to the Nepali consulate in Kolkata through the Department of Commerce after opening letter of credit ( LC),&nbsp; and the consulate sends&nbsp; it to the Indian Customs with due process , &nbsp;and this process will be automatically shortened through this new technology, said Section Officer Arjun Poudel. A separate software is being prepared for this, he said.&nbsp;&nbsp;</p>

<p style="text-align: justify;">Director Bhandari said this arrangement is effective worldwide as it discourages fake transactions besides saving time of the exporters and importers.</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4980',
			'image' => '20170118045416_customs.JPG',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '5176',
			'article_category_id' => '1',
			'title' => 'Inflation Cools, Economic Growth Target to be Met',
			'sub_title' => 'NRB’s Five-month Macroeconomic Report',
			'summary' => ' January 17:  The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.  In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.   According to the repo',
			'content' => '<p style="text-align: justify;">January 17: &nbsp;The Nepal Rastra Bank (NRB) has said that the consumer prices have cooled in the first five months of the current fiscal year 2016/17.&nbsp; In its macroeconomic update of the first five months of the current FY, the central bank has stated that the inflation rate has declined to 3.8 percent compared to the same period last FY.</p>

<p style="text-align: justify;">&nbsp;According to the report, the inflation was 11.6 percent in the last FY last and stood at 4.8 percent until October the current FY. NRB mentioned increasing of production activities in the country, ease in the supply system alongside the effective government monitoring of the market as factors attributing to the lowering of the inflation rate.</p>

<p style="text-align: justify;">Region wise, Kathmandu valley has the least inflation at 2.5 percent. &ldquo;This means that the market monitoring was effective,&rdquo; says one economist. As per the report, inflation rate in the hilly areas stood at 5.5 percent during the period while it was 3.7 percent in both mountainous regions and Terai plains.</p>

<p style="text-align: justify;">According to NRB, inflation in the food and non-food groups during the period were logged at 0.6 percent and 6.5 percent respectively. The food inflation and non-food inflation were 14.8 percent and 9.1 percent in the corresponding period of the last FY.&nbsp;</p>

<p style="text-align: justify;">&nbsp;In the current FY, the price of ghee and &nbsp;edible oil have come down by the highest 20.5 percent while it was lowest in pulses and beans at 6.6 percent.&nbsp; In fruit and food items, the prices came down by 2.4 percent and 1.1 percent respectively. However, the report points out that the inflation surged by 14.7 percent and 11.6 percent in sugar, sugar related products and alcoholic beverages respectively.&nbsp;</p>

<p style="text-align: justify;">According to NRB, the cooling of the inflation rate has also indicated that the economic growth could be attained as targeted by the budget and monetary policy of the current FY.</p>

<p style="text-align: justify;">&nbsp;The report states that targeted economic growth rate could be achieved in view of the favorable weather, improvement in energy supply and accelerating reconstruction works and steadily increasing remittance inflow. &ldquo;More than expected agricultural growth could support attaining the target of economic growth in 2017,&rdquo; NRB said in the report.&nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4979',
			'image' => null,
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '5175',
			'article_category_id' => '1',
			'title' => 'Forward Community Microfinance's IPO through ASBA System',
			'sub_title' => '',
			'summary' => 'January 18: General investors who are interested on Forward Community Microfinance's IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.',
			'content' => '<p style="text-align: justify;">January 18: General investors who are interested on Forward Community Microfinance&#39;s IPO can submit their application forms from the BFIs approved for ASBA system. The microfinance will be issuing the IPO from January 22. The Securities Board of Nepal (SEBON) is implementing the ASBA system for the first time in Nepal under which investors can directly apply for IPO from their respective bank accounts. So far, SEBON has approved 30 BFIs for ASBA implementation.</p>

<p style="text-align: justify;">&quot;ASBA was supposed to be implemented from January 14, however, there was no issuance of IPO or FPO during the first week. Thus the investors will get the services for the first time in Forward Community&#39;s IPO,&quot; said Niranjan Ghimire, Joint Spokesperson of SEBON. &quot;The system will simplify, ease and hassle free the process for investors, thus, we believe the participation will be encouraging,&quot; he added.</p>

<p style="text-align: justify;">Investors can apply for Forward Community Microfinance&#39;s IPO directly through their bank accounts of SEBON approved BFIs by paying certain charges. The investors can also submit their applications for free from Nabil Investment Banking, the issue manager of the IPO, in previous manner. However, under the system, investors can easily submit their application hassle-free by paying certain fee, he said.</p>

<p style="text-align: justify;">Under the system, investors will be charged Rs 150 per application under Rs 50,000and Rs 250 per application above Rs 50,000. SEBON clarifies that the system is not mandatory for now.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4978',
			'image' => '20170118015128_FORWARD_Community_.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '5174',
			'article_category_id' => '1',
			'title' => 'BFIs let-go NRB Security Bills; Liquidity Crisis in Question',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Rastra Bank issued Rs 40 billion worth of 'Direct Purchase Auction Bidding' in a bid to address BIFs' complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold.  ',
			'content' => '<p style="text-align:justify">January 18: Nepal Rastra Bank issued Rs 40 billion worth of &#39;Direct Purchase Auction Bidding&#39; in a bid to address BIFs&#39; complains on liquidity crisis. However, only Rs 9.70 billion worth of auction bidding has been procured by the BFIs so far. Previously, when NRB issued one and two weekly repo, BFIs complained that the short term repo might not solve the liquidity problem. Addressing the complains, NRB issued the auction bidding lasting for nearly five months, but, only 1/4 of the auction bidding has been sold. &nbsp;</p>

<p style="text-align:justify">&quot;The less participation of BFIs in the auction bidding of Rs 40 billion issued by the NRB to curve the liquidity crisis has doubted the existence of liquidity crisis in the market,&quot; said Chitamani Siwakoti, Deputy Governor of NRB. According to him, BFIs procured only Rs 1.90 billion of Rs 20 billion repo issued by the NRB previously. During the issuance of repo, BFIs viewed that the short term repo might not address the liquidity crisis.</p>

<p style="text-align:justify">&quot;As repo is for only 2 weeks period, we issued NRB Security Bills with the maturity period till May 26 and July 13 that can be directly purchased through auction bidding. However, it drew minimal participation.&quot; Only six BFIs participated in the auction bidding. As per Siwakoti, if there was real crisis of liquidity, BFIs would have procured the required amount for investment.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4977',
			'image' => '20170118125918_nrb.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '5173',
			'article_category_id' => '1',
			'title' => 'Pathak Appointed as Deputy CEO of NCC',
			'sub_title' => '',
			'summary' => 'January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.',
			'content' => '<p style="text-align:justify">January 18: Nepal Credit and Commerce Bank that recently started integrated transaction after merging four development banks into it has appointed Bandana Pathak as its Acting General Manager and Deputy CEO on January 16. Previously, Pathak was serving as Deputy General Manager of the bank. Pathak started her banking career from Nepal Bangladesh Bank in 1994.</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4976',
			'image' => '20170118111527_ncc.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '5172',
			'article_category_id' => '1',
			'title' => 'ADBL to  Start Mobile Banking Services',
			'sub_title' => '',
			'summary' => 'January 18: Agricultural Development Bank is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.',
			'content' => '<p style="text-align:justify">January 18: Agricultural Development Bank (ADBL)&nbsp;is starting mobile banking services. The bank carried out an agreement with F1 Soft International for that matter. Prem Kumar Shrestha, Head of Market and Branch Administration Department of the bank and Subash Sharma, CEO of F1 Soft signed a memorandum of understanding (MoU) amid a program on January 17. The program was also attended by the CEO of the bank Lila Prakash Sitaula.</p>

<p style="text-align:justify">With the agreement, the bank will start &#39;ADBL Smart Banking&#39; mobile banking services for its customers. &nbsp;The bank said that the F1 has prepared software as per the requirements of the bank. According to the bank, the customers can now fill up the forms, get notifications of transactions, transfer money, request for statement and chequebooks, defer debit card and cheque, get information on loan interest and principal through ADBL Smart Banking Services or through online. Moreover, the bank informed that the customers initiating the service in the current year will not be charged annual fee.&nbsp;</p>
',
			'published' => true,
			'created' => '2017-01-18',
			'modified' => '2017-01-18',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4975',
			'image' => '20170118110307_agriculture.jpg',
			'article_date' => '2017-01-18 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '5171',
			'article_category_id' => '1',
			'title' => 'Call for Increasing Engagement with China For Economic Prosperity',
			'sub_title' => '',
			'summary' => 'January 17: Former prime minister KP Sharma Oli has said that the ‘One Belt, One Road’ initiative taken by China can be largely beneficial to the Nepali economy',
			'content' => '<p>January 17: Former prime minister KP Sharma Oli has said that the &lsquo;One Belt, One Road&rsquo; initiative taken by China can be largely beneficial to the Nepali economy. He said that Nepal&rsquo;s engagement in restoring and reviving the ancient Silk Road route will usher the country into a new era of trade and connectivity.</p>

<p>Former PM Oli who is also the chairman of the main opposition party CPN-UML, made such remarks at the inaugural session of the China-Nepal Think-Tank Top Conference 2017 in Kathmandu that commenced today. The two-day conference is organised jointly by the Kathmandu Bureau of Xinhua News Agency, the official news agency of China and Nepal Study Center at Hebei University of Economics &amp; Business, China. The programme was chaired by Huang Youyi, Secretary General ofInternational Advisory Board of The Chahar Institute and Political Member of Chinese People Political Consultative Conference and its Foreign Affairs Committee.&nbsp;&nbsp;&nbsp;</p>

<p>Inaugurating the event, Oli thanked China for its policy of non-interference in Nepal&rsquo;s internal matters. &ldquo;I have found China very much willing and eager in supporting the development endeavours in Nepal,&rdquo; he mentioned. He said that despite the current difficult political situation, Nepal is headed towards a new and positive direction.</p>

<p>It is the first conference of China-Nepal Think Tank, a group comprising of eminent personalities from Nepal and China. According to the organisers, the objective of the event is to find ways to further strengthen the bilateral relationship between the two nations.</p>

<p>Speaking at the programme, former deputy prime minister and foreign minister Kamal Thapa charted out three factors impacting the Sino-Nepal relationship. &ldquo;First is the significant socio-economic transformation in China and Nepal. Second is the emergence of China and India as the world&rsquo;s economic powerhouses, and thirdly, the One Belt, One Road connectivity concept,&rdquo; he mentioned.</p>

<p>Thapa stressed that Nepal should prioritise on expanding its connectivity infrastructure with China. He also urged for a Sino-Nepal transit treaty. &ldquo;We must have a transit treaty with China at the earliest possible. The border blockade of 2015 has clearly pointed out to the need of such pact,&rdquo; he said, adding that China should provide landlocked Nepal with the access to the sea.</p>

<p>Thapa criticised the current government citing the lack of progress on various agreements with China that were signed by the erstwhile government led KP Sharma Oli.</p>

<p>Similarly, former minister and Naya Shakti Party leader Hisila Yami pointed out that Nepal should replace political diplomacy by economic diplomacy. &ldquo;The development of Tibet and expansion of roadways and railways in the areas near to Nepal-China border has pronounced much more opportunities for Nepal. It can be a vibrant bridge between China and India,&rdquo; she said. &ldquo;Connecting Nepal, China and India trilaterally would create a huge market of more than 2.6 billion people,&rdquo; Yami added.&nbsp;</p>

<p>Speaking at the event, Cui Guitian, Professor at Shandong University stressed on increasing the frequency of exchange of political delegations between China and Nepal to further bolster the bilateral relationship. &ldquo;The future of Sino-Nepal relationship depends on the level of engagement of political parties of both the countries,&rdquo; he said.&nbsp;</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>
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		'Article' => array(
			'id' => '5170',
			'article_category_id' => '1',
			'title' => 'Nyadi Hydropower Contract to Chinese Company Zhejiang',
			'sub_title' => '',
			'summary' => 'January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.',
			'content' => '<p style="text-align: justify;">January 17: The construction contract of 30MW capacity Nyadi Hydropower Project has been finalised. An agreement between Nyadi Hydropower and Chinese Company Zhejiang Hydropower Construction and Installation was signed on January 16.</p>

<p style="text-align: justify;">Issuing a press statement, the company informed that the contract was done as per EPC format. The Chinese company obtained the contract for civil, hydro mechanical and electro mechanical works. Rajeev Rajbhandari, Chairman of the company and Liu Koching, Chairman of the Zhejiang Hydropower signed the agreement paper on behalf of the respective organisation.</p>

<p style="text-align: justify;">According to the statement, the project will commence from coming February to complete within next 38 months. The company targets to operate the hydro project by 2020 April.</p>

<p style="text-align: justify;">Nyadi Hydropower is the joint venture of Butwal Power and Lamjung Electricity Development Company. It is also planning to issue shares to the local people of affected area and general investors in near future.</p>

<p style="text-align: justify;">&quot;The hydro project will have a consortium loan from Nabil, Global IME and Himalayan Bank headed by Everest Bank. Moreover, Hydropower Investment and Development Company will also be investing in the project,&quot; reads the statement.</p>

<p style="text-align: justify;">Similarly, the company informed that the tasks related with procurement of land for the project, construction of project access road, power purchase agreement, appointment of supervision consultant and financial management has already concluded.&nbsp;</p>
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		'Article' => array(
			'id' => '5169',
			'article_category_id' => '1',
			'title' => 'Birgunj Customs Collects 55 Billion Revenue in 6 Months',
			'sub_title' => '',
			'summary' => 'January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.',
			'content' => '<p style="text-align: justify;">January 17: The major customs point of Nepal, Birgunj Customs Office has collected Rs 55.17 billion in revenue in the first six months of the current fiscal year 2016/17.</p>

<p style="text-align: justify;">&quot;The collected revenue is five per cent more than the target,&quot; said Sewantak Pokharel, Chief Customs Officer of Birgunj custom point. Department of Customs had given Rs 52.11 billion as revenue target to the customs office.</p>

<p style="text-align: justify;">During the review period of the last FY, the customs point collected Rs 14.74 billion in revenue. The collected revenue was just 44 per cent of the given target of that period. During the period, the customs collection was negatively affected by the Tarai unrest and border blockade. A total of Rs 33.59 billion revenue target was given to the office during the period, however, the disruption of import and export due to negative circumstances hindered the collection of revenue during the review period of last FY.</p>

<p style="text-align: justify;">As per the data of Birgunj Customs Office, it collected Rs 8.89 billion revenue in the month of Paush (mid-December to mid-January) against its target of Rs 8.66 billion for the month. Amongst the collected revenue, the office collected Rs 3.34 billion in customs duty, Rs 3.25 billion in VAT and Rs 1.96 billion in excise duty.</p>

<p style="text-align: justify;">According to Pokharel, vehicles and petroleum products have major contribution in the revenue collected from Birgunj Customs Office.&nbsp;&nbsp;</p>

<p style="text-align: justify;">In the first six months of the current FY, the customs point collected Rs 20.58 billion as customs duty, Rs 19.75 billion in VAT and Rs 11.54 billion in excise duty. The customs point is given a target of Rs 107 billion in revenue for the current FY ending in May. Pokharel claims that the annual target of the revenue will be easily achieved with the same pace of revenue collection.</p>

<p style="text-align: justify;">District wise, Parsa collects the largest amount of revenue due to the customs point in Birgunj. A businessman from Birgunj says although some industries shifted to other places, but as raw materials and consumer goods for Kathmandu come through this point, it has the largest contribution in revenue.&nbsp; &nbsp;Lalitpur district has second position in terms of revenue contribution, Rupandehi third and Kathmandu fourth.</p>

<p style="text-align: justify;">&nbsp;According to statistics of the Comptroller General&rsquo;s Office, the least contribution in revenue is from Dadeldhura, which stands at 0.1 percent. &nbsp;</p>
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FOREX

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

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

Bullion

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

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

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