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Code Context
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			'id' => '4909',
			'article_category_id' => '1',
			'title' => '30% Work Completed in Upper Dordi ‘A’',
			'sub_title' => '',
			'summary' => 'December 11: The 25MW Upper Dordi ‘A’ hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and p',
			'content' => '<p style="text-align: justify;">December 11:&nbsp;The 25MW Upper Dordi &lsquo;A&rsquo; hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and penstock pipes related works have finished. &ldquo;The tunnel work was halted for nine months by last year&rsquo;s earthquake and Terai unrest,&rdquo; he said, adding, &ldquo;After the interruption, the civil construction work is moving ahead.&rdquo; As per him, the construction of power house is also moving at same time. Of 2800 kilometers, 750 meters tunnel digging work has also finished.</p>

<p style="text-align: justify;">With the investment of promoters and on the leadership of Nepal Investment Bank, eight other banks have invested in hydropower amounting to Rs 4.50 billion at Dordi &lsquo;A&rsquo;. The project will announce share for locals and public on the annual general meeting (AGM) which will be held on Dec/Jan. Singh said that as per the regulation, 10 percent share will be offered to locals and 15 percent to public.</p>

<p style="text-align: justify;">Constructed under &lsquo;run of the river&rsquo; system, the land acquirement and forest related task has been solved. As per Singh, the demands of locals on road construction and other facilities are pended. The project will be concluded by the June/July of 2018. The electricity produced from the project will be connected to central grid. For the purpose, Nepal Electricity Authority (NEA) had already procured land for the construction of sub-station.</p>

<p style="text-align: justify;">If the Authority moves the construction work of sub-station fast, the transmission line will be ready by the completion of the project. The 14 kilometers distanced transmission line constructed on investment of Rs 100 million will be beneficial for Upper Dordi A and Dordi (27MW) as well. With the construction of the transmission line, Dordi corridor which carries the second highest hydropower potential after Marsyangdi in Lamjung will open the way to construction other projects.</p>

<p style="text-align: justify;">Meanwhile, NEA and Dordi A have made an agreement in which the electricity produced by Dordi &lsquo;A&rsquo; will be paid Rs 8.4 during winter and Rs 4.8 per unit during summer by the NEA.&nbsp;</p>
',
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			'sortorder' => '4739',
			'image' => '20161211031344_DORDI A.jpg',
			'article_date' => '2016-12-11 00:00:00',
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			'id' => '4908',
			'article_category_id' => '1',
			'title' => 'Sherpa Wins Carlsberg Golf 2016',
			'sub_title' => '',
			'summary' => 'December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished ',
			'content' => '<p style="text-align: justify;">December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished second and third respectively.</p>

<p style="text-align: justify;">Vijay Shrestha Einhus won the gross section title with 35 points. Shrestha also bagged the longest dive award hitting a drive of 330 yards. Awards were handed to the winners, gross winner, female winner, senior winner, longest drive, closest to the pin and most birdies during the competition.</p>

<p style="text-align: justify;">According to Arun Adhikari, Managing Director of Gorkha Brewery, Carlsberg Golf has been providing a good platform for emerging and talented golfers.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4738',
			'image' => '20161211021250_carlsberg.jpg',
			'article_date' => '2016-12-11 00:00:00',
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			'id' => '4907',
			'article_category_id' => '1',
			'title' => 'Share Market and Liquidity',
			'sub_title' => '',
			'summary' => 'December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates ',
			'content' => '<p style="text-align:justify">December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates excess liquidity problem which also directly influence the share market.</p>

<p style="text-align:justify">Excess liquidity problem in BFIs arises due to the lack of favourable investment environment resulting low interest rate on loan extension. In such circumstance, share investors take loan from banking system and invest in share market. However, when the BFIs lack liquidity, they attract deposit by increasing deposit interest rate. In such situation, share investors sell their share ownerships and invest in bank deposits which take the share market downward.</p>

<p style="text-align:justify">At this point of time, it is rumoured that the market lacks liquidity. In the current FY, decreased growth rate of remittance flow, increased growth rate of import, minimal income from tourism sector have caused lack of liquidity in the market. As a result, the discount rate of government Treasury bill has increased. The discount rate which was less than 1 per cent during mid-August increased to 3 per cent during mid-November. However, on November 29, the discount rate of 91 days Treasury bill was 2.4999 per cent that shows of reduction in liquidity problem in the banking system.</p>

<p style="text-align:justify">Similarly, the BFIs have also increased the interest rate on deposits on the verge of liquidity problem. &nbsp;Apparently, the share investors are getting attracted to increased interest rate of bank deposit which is a safe investment compare to share investment. Due to which, the market capitalisation which was Rs 2000 billion on September 5 has decreased to Rs 1718 billion on December 8. &nbsp;Investors&#39; lack of confidence in share market and attraction in secure investment has resulted in rise in bank deposits. The banks avoids margin lending in such condition however, such scenario of the security market is of temporary nature.&nbsp;</p>
',
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			'sortorder' => '4737',
			'image' => '20161211021948_sharemarekt and liquidity.jpg',
			'article_date' => '2016-12-11 00:00:00',
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			'id' => '4906',
			'article_category_id' => '1',
			'title' => 'Interbank Interest Rate in Declining Trend',
			'sub_title' => '',
			'summary' => 'December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per ',
			'content' => '<p style="text-align: justify;">December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per cent in the last day from 2.79 per cent of the first day during the last week. The decreasing interbank interest rate indicates of mounting liquidity in the market.</p>

<p style="text-align: justify;">In the initial phase of the current FY, the rate was 1.14 per cent. The rate gradually decreased to 0.36 per cent during the month which is the least interbank rate of the current FY. However, the rate rose to 4.2551 per cent during the festive season of Dashain-Tihar. After the festive season, the rate increased to 4.3511 per cent once which is the highest rate of the current FY. After the raise, the interbank interest rate was once again in decreasing trend and reached 1.9550 on December 2.</p>

<p style="text-align: justify;">The declining interbank interest rate since last two weeks indicates of decreasing liquidity problems in banks and financial institutions (BFIs). &nbsp;It also shows the potential decline in interest rate given on deposits by BFIs.&nbsp; The BFIs offered 7-8 per cent interest rate on deposits two weeks ago citing lack of liquidity.&nbsp;</p>
',
			'published' => true,
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			'modified' => '2016-12-11',
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			'description' => '',
			'sortorder' => '4736',
			'image' => '20161211125455_interbank.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
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			'id' => '4905',
			'article_category_id' => '1',
			'title' => 'Premier Insurance Appoints NMB Capital as its Issue Manager',
			'sub_title' => '',
			'summary' => 'December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.',
			'content' => '<p style="text-align: justify;">December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.</p>

<p style="text-align: justify;">Premier Insurance informed that the FPO will be issued in premium rate with the face value of Rs 100. &nbsp;According to the company, the promoter and general share proportion will set at 51:49 after the issuance of FPO. &nbsp;</p>
',
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			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4735',
			'image' => '20161211120033_premier.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'id' => '4904',
			'article_category_id' => '1',
			'title' => 'Himalayan Distillery to Distribute 20% Cash Dividend',
			'sub_title' => '',
			'summary' => 'December 11: Himalayan Distillery has conducted its 16th annual general meeting on December 9. The AGM held at company's office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.',
			'content' => '<p style="text-align: justify;">December 11: Himalayan Distillery has conducted its 16<sup>th</sup> annual general meeting on December 9. The AGM held at company&#39;s office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4734',
			'image' => '20161211114824_himalayan disti.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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		'Article' => array(
			'id' => '4903',
			'article_category_id' => '1',
			'title' => 'Tata's Two New Showrooms in Kathmandu and Bhaktapur',
			'sub_title' => '',
			'summary' => 'December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started 'Sashila Motors' at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.',
			'content' => '<p style="text-align: justify;">December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started &#39;Sashila Motors&#39; at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.</p>

<p style="text-align: justify;">Satish Macheraju, South Asia Regional Director of Tata Motors and Sourya Rana, Director of Sipradi Trading jointly inaugurated the showrooms amid a program organised in the capital. The inauguration program was attended by higher officials of Sipradi Trading including Sambhu Prasad Dhahal, Director, Rajan Babu Shrestha, CEO,Rajesh Prasad Giri, Chief Operating Officer and Bodh Prakash Mukhiya, Nepal-Bhutan Country Manager of Tata Motors.</p>

<p style="text-align: justify;">&quot;Sashila Motors will make Tata commercial vehicles easily available to the traders of Kathmandu and Bhaktapur with a facility of bank finance,&quot; said Santosh Khatiwada, Managing Director of the showroom.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4733',
			'image' => '20161211113814_tata.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '4902',
			'article_category_id' => '1',
			'title' => 'Everest Bank Adds More Features to Indo-Nepal Remit ',
			'sub_title' => '',
			'summary' => 'December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds “ONLINE”. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any ',
			'content' => '<p>December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds &ldquo;ONLINE&rdquo;. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any branch of PNB) to any branch of Everest Bank in Nepal and more than 500 business correspondents located in remote parts of the county, reads the press statement issued by the bank.&nbsp;</p>

<p>Presently, the bank is rendering its banking services through its domestic network of 61 branches, 5 Extension Counters, 24 Revenue Collection Counters, 86 ATMs and many correspondents across the globe.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4732',
			'image' => '20161209050547_everst.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '4901',
			'article_category_id' => '1',
			'title' => 'Government organising International Investment Conference on March 2-3',
			'sub_title' => '',
			'summary' => 'December 9:  Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.  The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the',
			'content' => '<p style="text-align: justify;">December 9:&nbsp; Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.</p>

<p style="text-align: justify;">The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the investment in Nepal.</p>

<p style="text-align: justify;">Joshi said &quot;The conference will reassure the foreign investors about the security of their investment. However, the Nepali political leaders should also express their commitment to assure foreigners for investment protection.&quot;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4731',
			'image' => '20161209043312_NEPAL.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4900',
			'article_category_id' => '1',
			'title' => 'ADB Grants $20 Million to Spur Private Sector Solar Power Investment in Nepal',
			'sub_title' => '',
			'summary' => 'December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicat',
			'content' => '<p style="text-align: justify;">December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicated and scaled up elsewhere in the energy-strapped South Asian nation, said the bank issuing a press statement.</p>

<p style="text-align: justify;"><br />
The grant will be used to finance the difference between private sector cost of producing utility-scale solar power and the minimum price that the Nepal Electricity Authority is willing to pay for the power. This is the first time that Nepal has ever used so-called &ldquo;viability gap&rdquo; funding.&nbsp;<br />
&ldquo;Providing some financial security to the private sector should draw more private investment into this critical sector in Nepal and, in doing so, reduce pressure on government finances,&rdquo; said Aiming Zhou, Senior Energy Specialist at ADB&rsquo;s South Asia Regional Department. &ldquo;And once the private sector better understands the Nepal solar sector, I would expect them to seek investment opportunities elsewhere in Nepal or indeed the region.&rdquo;</p>

<p style="text-align: justify;"><br />
According to the Manila based bank, companies will now be able to bid to develop solar systems through an international competitive bidding process, with power purchase agreements awarded on the basis of the best offtake prices. The funding under the grant will be payable on the first day of operation of the solar system, up to end June, 2022. Bidding is expected to start in the first quarter of 2017 and last around 6 to 12 months.</p>

<p style="text-align: justify;"><br />
The $20 million grant is being financed by the Scaling Up Renewable Energy in Low Income Countries Program (SREP) of the Climate Investment Funds (CIF) administered by the Asian Development Bank (ADB). It will form part of the $440.50 million South Asia Subregional Economic Cooperation Power System Expansion Project, which kicked off in January 2015, reads the statement.&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4730',
			'image' => '20161209040255_adb.jpg',
			'article_date' => '2016-12-09 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4899',
			'article_category_id' => '1',
			'title' => 'CBS Preparing for Economic Census for First Time',
			'sub_title' => '',
			'summary' => 'December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as ‘Economic Census Year’ started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employmen',
			'content' => '<p style="text-align: justify;">December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as &lsquo;Economic Census Year&rsquo; started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employment. The census will present clear glimpse of economic activities of every kind.&nbsp;</p>

<p style="text-align: justify;">&nbsp;&ldquo;Presently, the statistics of gross domestic product (GDP) of Nepal do not reflect actual scenario,&rdquo; he said, adding, &ldquo;The economic census of 2018 will take us near to the actual GDP.&rdquo; In 1961, for the first time, Nepal announced the GDP. &nbsp;After the census, changes can be observed in the size and structure of the economy of Nepal. It has been said that currently the economic size of the country is Rs 21 billion. The census will also show the changes in the economic size, as per him.</p>

<p style="text-align: justify;">CBS will be conducting economic census from the mid of 2018 and is preparing necessary ground work. The Department after the first economic census will conduct the census in the gap of five years. The census will give the actual picture of the contribution made by various sectors of the economy.</p>

<p style="text-align: justify;">Currently, CBS is preparing for determining the mapping of census area. The department will be mobilizing 5000 data collectors for three months. Suwal informed that the preliminary census will be unveiled in two or three days after finishing taking census and complete details will come out after a year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>
',
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			'sortorder' => '4729',
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	(int) 11 => array(
		'Article' => array(
			'id' => '4898',
			'article_category_id' => '1',
			'title' => 'NRB to Invest 6.5 Billion in Fixed Deposit',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on 'A' listed commercial banks, 'B' listed national level development banks and 'C' listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned ba',
			'content' => '<p style="text-align: justify;">December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on &#39;A&#39; listed commercial banks, &#39;B&#39; listed national level development banks and &#39;C&#39; listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned banks and financial institutions (BFIs) from December 16 2016 to December 15 2017.</p>

<p style="text-align: justify;">The central bank is investing Rs 5.18 billion as FD in &#39;A&#39; listed commercial bank. Similarly, the bank is investing Rs 972 million and Rs 324 million as FD in &#39;B&#39; listed and &#39;C&#39; listed BFIs. The bank has applied 11 conditions to invest the fund in the listed BFIs.</p>

<p style="text-align: justify;">The NRB has issued a notice in which the interested BFIs are asked to submitted a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by December 9 1300 hours. The BFIs willing to take the FD must have come into operation for two years and should have minimum capital fund. The BFIs must fulfil the categories including the non-performing loan should be less than 5 per cent of total loan extension, net liquid assets should meet 20 per cent or more of the total domestic deposits will be eligible. According to NRB, the BFIs must have maintained the loan, domestic deposit and primary capital proportion as per the timely set standard by the central bank.</p>

<p style="text-align: justify;">Similarly, the BFIs earning operating profit in last FY and having real estate investment not exceeding NRB set limit can also participate in the FD plan. However, BFIs leaded by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.</p>

<p style="text-align: justify;">Similarly, BFIs completing minimum of 6 months from the Prompt Corrective Action taken by NRB can also apply for the deposit. NRB has also set a condition where the BFIs must have issued the shares allocated to general public.</p>

<p style="text-align: justify;">Likewise, the BFIs which are not announced problematic or completed 6 months since announced problem free are also allowed to apply for the fixed deposit of NRB.&nbsp;</p>
',
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			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4728',
			'image' => '20161209012020_nrb.jpg',
			'article_date' => '2016-12-09 00:00:00',
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			'id' => '4897',
			'article_category_id' => '1',
			'title' => 'China to deliver IPS Service in Nepal',
			'sub_title' => ' Ends Indian Monopoly',
			'summary' => 'December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third coun',
			'content' => '<p style="text-align: justify;">December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third country in order to deliver IP service in Nepal. CTG will be providing IP service in Nepal through the terrestrial cable route linking Nepal and China via Rasuwa-Jilong gateway.&nbsp;</p>

<p style="text-align: justify;"><br />
Lochan Lal Amatya, chief technical officer NT and Yan Ou executive president of CTG executive signed the MoU regarding the matter in a program organised in Hong Kong on December 6.&nbsp;</p>

<p style="text-align: justify;">In the program, Amatya said that NT would benefit through the terrestrial cable route. He also expressed hope that the CTG would provide a reliable service and that Nepal could be established as a transit hub for it.</p>

<p style="text-align: justify;"><br />
Similarly, Yan said that CTG has been expanding its service into the Himalayan area and that China-Nepal route could provide service to Nepal and transit service from India.&nbsp;</p>
',
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			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4727',
			'image' => '20161209122200_ips.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
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			'id' => '4896',
			'article_category_id' => '1',
			'title' => 'Samsung Smartphone Cafe in Newroad',
			'sub_title' => '',
			'summary' => 'December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra s',
			'content' => '<p style="text-align: justify;">December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra said that the cafe has been re-launched so that to provide best experience to the customer.</p>

<p style="text-align: justify;">The customers purchasing Samsung mobile from the cafe will be provided free 6 GB data till December 14, informed the press statement issued by the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4726',
			'image' => '20161209112307_samsung cafe.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
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	(int) 14 => array(
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			'id' => '4895',
			'article_category_id' => '1',
			'title' => 'Nepal Investment Bags 'Bank of the Year' Award',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Investment Bank has bagged 'Bank of the Year 2016' award. London Based magazine 'The Banker' published by 'The Financial Times London honoured the bank with the award.',
			'content' => '<p style="text-align: justify;">December 9: Nepal Investment Bank has bagged &#39;Bank of the Year 2016&#39; award. London Based magazine &#39;The Banker&#39; published by &#39;The Financial Times London honoured the bank with the award.</p>

<p style="text-align: justify;">Prithwi Bahadur Pande, Chairman and Jyoti Pandey, CEO of the bank received the award amid a program organised in London. With the award, the bank has bagged the award for fifth time. Presently, the bank is providing its services through its network of 48 branches and 83 ATMs.&nbsp;</p>
',
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			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4725',
			'image' => '20161209105759_nibl.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4909',
			'article_category_id' => '1',
			'title' => '30% Work Completed in Upper Dordi ‘A’',
			'sub_title' => '',
			'summary' => 'December 11: The 25MW Upper Dordi ‘A’ hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and p',
			'content' => '<p style="text-align: justify;">December 11:&nbsp;The 25MW Upper Dordi &lsquo;A&rsquo; hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and penstock pipes related works have finished. &ldquo;The tunnel work was halted for nine months by last year&rsquo;s earthquake and Terai unrest,&rdquo; he said, adding, &ldquo;After the interruption, the civil construction work is moving ahead.&rdquo; As per him, the construction of power house is also moving at same time. Of 2800 kilometers, 750 meters tunnel digging work has also finished.</p>

<p style="text-align: justify;">With the investment of promoters and on the leadership of Nepal Investment Bank, eight other banks have invested in hydropower amounting to Rs 4.50 billion at Dordi &lsquo;A&rsquo;. The project will announce share for locals and public on the annual general meeting (AGM) which will be held on Dec/Jan. Singh said that as per the regulation, 10 percent share will be offered to locals and 15 percent to public.</p>

<p style="text-align: justify;">Constructed under &lsquo;run of the river&rsquo; system, the land acquirement and forest related task has been solved. As per Singh, the demands of locals on road construction and other facilities are pended. The project will be concluded by the June/July of 2018. The electricity produced from the project will be connected to central grid. For the purpose, Nepal Electricity Authority (NEA) had already procured land for the construction of sub-station.</p>

<p style="text-align: justify;">If the Authority moves the construction work of sub-station fast, the transmission line will be ready by the completion of the project. The 14 kilometers distanced transmission line constructed on investment of Rs 100 million will be beneficial for Upper Dordi A and Dordi (27MW) as well. With the construction of the transmission line, Dordi corridor which carries the second highest hydropower potential after Marsyangdi in Lamjung will open the way to construction other projects.</p>

<p style="text-align: justify;">Meanwhile, NEA and Dordi A have made an agreement in which the electricity produced by Dordi &lsquo;A&rsquo; will be paid Rs 8.4 during winter and Rs 4.8 per unit during summer by the NEA.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4739',
			'image' => '20161211031344_DORDI A.jpg',
			'article_date' => '2016-12-11 00:00:00',
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		'Article' => array(
			'id' => '4908',
			'article_category_id' => '1',
			'title' => 'Sherpa Wins Carlsberg Golf 2016',
			'sub_title' => '',
			'summary' => 'December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished ',
			'content' => '<p style="text-align: justify;">December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished second and third respectively.</p>

<p style="text-align: justify;">Vijay Shrestha Einhus won the gross section title with 35 points. Shrestha also bagged the longest dive award hitting a drive of 330 yards. Awards were handed to the winners, gross winner, female winner, senior winner, longest drive, closest to the pin and most birdies during the competition.</p>

<p style="text-align: justify;">According to Arun Adhikari, Managing Director of Gorkha Brewery, Carlsberg Golf has been providing a good platform for emerging and talented golfers.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4738',
			'image' => '20161211021250_carlsberg.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '4907',
			'article_category_id' => '1',
			'title' => 'Share Market and Liquidity',
			'sub_title' => '',
			'summary' => 'December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates ',
			'content' => '<p style="text-align:justify">December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates excess liquidity problem which also directly influence the share market.</p>

<p style="text-align:justify">Excess liquidity problem in BFIs arises due to the lack of favourable investment environment resulting low interest rate on loan extension. In such circumstance, share investors take loan from banking system and invest in share market. However, when the BFIs lack liquidity, they attract deposit by increasing deposit interest rate. In such situation, share investors sell their share ownerships and invest in bank deposits which take the share market downward.</p>

<p style="text-align:justify">At this point of time, it is rumoured that the market lacks liquidity. In the current FY, decreased growth rate of remittance flow, increased growth rate of import, minimal income from tourism sector have caused lack of liquidity in the market. As a result, the discount rate of government Treasury bill has increased. The discount rate which was less than 1 per cent during mid-August increased to 3 per cent during mid-November. However, on November 29, the discount rate of 91 days Treasury bill was 2.4999 per cent that shows of reduction in liquidity problem in the banking system.</p>

<p style="text-align:justify">Similarly, the BFIs have also increased the interest rate on deposits on the verge of liquidity problem. &nbsp;Apparently, the share investors are getting attracted to increased interest rate of bank deposit which is a safe investment compare to share investment. Due to which, the market capitalisation which was Rs 2000 billion on September 5 has decreased to Rs 1718 billion on December 8. &nbsp;Investors&#39; lack of confidence in share market and attraction in secure investment has resulted in rise in bank deposits. The banks avoids margin lending in such condition however, such scenario of the security market is of temporary nature.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4737',
			'image' => '20161211021948_sharemarekt and liquidity.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
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	(int) 3 => array(
		'Article' => array(
			'id' => '4906',
			'article_category_id' => '1',
			'title' => 'Interbank Interest Rate in Declining Trend',
			'sub_title' => '',
			'summary' => 'December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per ',
			'content' => '<p style="text-align: justify;">December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per cent in the last day from 2.79 per cent of the first day during the last week. The decreasing interbank interest rate indicates of mounting liquidity in the market.</p>

<p style="text-align: justify;">In the initial phase of the current FY, the rate was 1.14 per cent. The rate gradually decreased to 0.36 per cent during the month which is the least interbank rate of the current FY. However, the rate rose to 4.2551 per cent during the festive season of Dashain-Tihar. After the festive season, the rate increased to 4.3511 per cent once which is the highest rate of the current FY. After the raise, the interbank interest rate was once again in decreasing trend and reached 1.9550 on December 2.</p>

<p style="text-align: justify;">The declining interbank interest rate since last two weeks indicates of decreasing liquidity problems in banks and financial institutions (BFIs). &nbsp;It also shows the potential decline in interest rate given on deposits by BFIs.&nbsp; The BFIs offered 7-8 per cent interest rate on deposits two weeks ago citing lack of liquidity.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4736',
			'image' => '20161211125455_interbank.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 4 => array(
		'Article' => array(
			'id' => '4905',
			'article_category_id' => '1',
			'title' => 'Premier Insurance Appoints NMB Capital as its Issue Manager',
			'sub_title' => '',
			'summary' => 'December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.',
			'content' => '<p style="text-align: justify;">December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.</p>

<p style="text-align: justify;">Premier Insurance informed that the FPO will be issued in premium rate with the face value of Rs 100. &nbsp;According to the company, the promoter and general share proportion will set at 51:49 after the issuance of FPO. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4735',
			'image' => '20161211120033_premier.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 5 => array(
		'Article' => array(
			'id' => '4904',
			'article_category_id' => '1',
			'title' => 'Himalayan Distillery to Distribute 20% Cash Dividend',
			'sub_title' => '',
			'summary' => 'December 11: Himalayan Distillery has conducted its 16th annual general meeting on December 9. The AGM held at company's office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.',
			'content' => '<p style="text-align: justify;">December 11: Himalayan Distillery has conducted its 16<sup>th</sup> annual general meeting on December 9. The AGM held at company&#39;s office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4734',
			'image' => '20161211114824_himalayan disti.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 6 => array(
		'Article' => array(
			'id' => '4903',
			'article_category_id' => '1',
			'title' => 'Tata's Two New Showrooms in Kathmandu and Bhaktapur',
			'sub_title' => '',
			'summary' => 'December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started 'Sashila Motors' at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.',
			'content' => '<p style="text-align: justify;">December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started &#39;Sashila Motors&#39; at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.</p>

<p style="text-align: justify;">Satish Macheraju, South Asia Regional Director of Tata Motors and Sourya Rana, Director of Sipradi Trading jointly inaugurated the showrooms amid a program organised in the capital. The inauguration program was attended by higher officials of Sipradi Trading including Sambhu Prasad Dhahal, Director, Rajan Babu Shrestha, CEO,Rajesh Prasad Giri, Chief Operating Officer and Bodh Prakash Mukhiya, Nepal-Bhutan Country Manager of Tata Motors.</p>

<p style="text-align: justify;">&quot;Sashila Motors will make Tata commercial vehicles easily available to the traders of Kathmandu and Bhaktapur with a facility of bank finance,&quot; said Santosh Khatiwada, Managing Director of the showroom.</p>
',
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			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4733',
			'image' => '20161211113814_tata.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '4902',
			'article_category_id' => '1',
			'title' => 'Everest Bank Adds More Features to Indo-Nepal Remit ',
			'sub_title' => '',
			'summary' => 'December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds “ONLINE”. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any ',
			'content' => '<p>December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds &ldquo;ONLINE&rdquo;. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any branch of PNB) to any branch of Everest Bank in Nepal and more than 500 business correspondents located in remote parts of the county, reads the press statement issued by the bank.&nbsp;</p>

<p>Presently, the bank is rendering its banking services through its domestic network of 61 branches, 5 Extension Counters, 24 Revenue Collection Counters, 86 ATMs and many correspondents across the globe.&nbsp;</p>
',
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			'created' => '2016-12-09',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4732',
			'image' => '20161209050547_everst.jpg',
			'article_date' => '2016-12-09 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '4901',
			'article_category_id' => '1',
			'title' => 'Government organising International Investment Conference on March 2-3',
			'sub_title' => '',
			'summary' => 'December 9:  Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.  The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the',
			'content' => '<p style="text-align: justify;">December 9:&nbsp; Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.</p>

<p style="text-align: justify;">The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the investment in Nepal.</p>

<p style="text-align: justify;">Joshi said &quot;The conference will reassure the foreign investors about the security of their investment. However, the Nepali political leaders should also express their commitment to assure foreigners for investment protection.&quot;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4731',
			'image' => '20161209043312_NEPAL.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4900',
			'article_category_id' => '1',
			'title' => 'ADB Grants $20 Million to Spur Private Sector Solar Power Investment in Nepal',
			'sub_title' => '',
			'summary' => 'December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicat',
			'content' => '<p style="text-align: justify;">December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicated and scaled up elsewhere in the energy-strapped South Asian nation, said the bank issuing a press statement.</p>

<p style="text-align: justify;"><br />
The grant will be used to finance the difference between private sector cost of producing utility-scale solar power and the minimum price that the Nepal Electricity Authority is willing to pay for the power. This is the first time that Nepal has ever used so-called &ldquo;viability gap&rdquo; funding.&nbsp;<br />
&ldquo;Providing some financial security to the private sector should draw more private investment into this critical sector in Nepal and, in doing so, reduce pressure on government finances,&rdquo; said Aiming Zhou, Senior Energy Specialist at ADB&rsquo;s South Asia Regional Department. &ldquo;And once the private sector better understands the Nepal solar sector, I would expect them to seek investment opportunities elsewhere in Nepal or indeed the region.&rdquo;</p>

<p style="text-align: justify;"><br />
According to the Manila based bank, companies will now be able to bid to develop solar systems through an international competitive bidding process, with power purchase agreements awarded on the basis of the best offtake prices. The funding under the grant will be payable on the first day of operation of the solar system, up to end June, 2022. Bidding is expected to start in the first quarter of 2017 and last around 6 to 12 months.</p>

<p style="text-align: justify;"><br />
The $20 million grant is being financed by the Scaling Up Renewable Energy in Low Income Countries Program (SREP) of the Climate Investment Funds (CIF) administered by the Asian Development Bank (ADB). It will form part of the $440.50 million South Asia Subregional Economic Cooperation Power System Expansion Project, which kicked off in January 2015, reads the statement.&nbsp;</p>

<p>&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4730',
			'image' => '20161209040255_adb.jpg',
			'article_date' => '2016-12-09 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4899',
			'article_category_id' => '1',
			'title' => 'CBS Preparing for Economic Census for First Time',
			'sub_title' => '',
			'summary' => 'December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as ‘Economic Census Year’ started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employmen',
			'content' => '<p style="text-align: justify;">December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as &lsquo;Economic Census Year&rsquo; started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employment. The census will present clear glimpse of economic activities of every kind.&nbsp;</p>

<p style="text-align: justify;">&nbsp;&ldquo;Presently, the statistics of gross domestic product (GDP) of Nepal do not reflect actual scenario,&rdquo; he said, adding, &ldquo;The economic census of 2018 will take us near to the actual GDP.&rdquo; In 1961, for the first time, Nepal announced the GDP. &nbsp;After the census, changes can be observed in the size and structure of the economy of Nepal. It has been said that currently the economic size of the country is Rs 21 billion. The census will also show the changes in the economic size, as per him.</p>

<p style="text-align: justify;">CBS will be conducting economic census from the mid of 2018 and is preparing necessary ground work. The Department after the first economic census will conduct the census in the gap of five years. The census will give the actual picture of the contribution made by various sectors of the economy.</p>

<p style="text-align: justify;">Currently, CBS is preparing for determining the mapping of census area. The department will be mobilizing 5000 data collectors for three months. Suwal informed that the preliminary census will be unveiled in two or three days after finishing taking census and complete details will come out after a year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>
',
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			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4729',
			'image' => '20161209015641_cbs.JPG',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4898',
			'article_category_id' => '1',
			'title' => 'NRB to Invest 6.5 Billion in Fixed Deposit',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on 'A' listed commercial banks, 'B' listed national level development banks and 'C' listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned ba',
			'content' => '<p style="text-align: justify;">December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on &#39;A&#39; listed commercial banks, &#39;B&#39; listed national level development banks and &#39;C&#39; listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned banks and financial institutions (BFIs) from December 16 2016 to December 15 2017.</p>

<p style="text-align: justify;">The central bank is investing Rs 5.18 billion as FD in &#39;A&#39; listed commercial bank. Similarly, the bank is investing Rs 972 million and Rs 324 million as FD in &#39;B&#39; listed and &#39;C&#39; listed BFIs. The bank has applied 11 conditions to invest the fund in the listed BFIs.</p>

<p style="text-align: justify;">The NRB has issued a notice in which the interested BFIs are asked to submitted a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by December 9 1300 hours. The BFIs willing to take the FD must have come into operation for two years and should have minimum capital fund. The BFIs must fulfil the categories including the non-performing loan should be less than 5 per cent of total loan extension, net liquid assets should meet 20 per cent or more of the total domestic deposits will be eligible. According to NRB, the BFIs must have maintained the loan, domestic deposit and primary capital proportion as per the timely set standard by the central bank.</p>

<p style="text-align: justify;">Similarly, the BFIs earning operating profit in last FY and having real estate investment not exceeding NRB set limit can also participate in the FD plan. However, BFIs leaded by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.</p>

<p style="text-align: justify;">Similarly, BFIs completing minimum of 6 months from the Prompt Corrective Action taken by NRB can also apply for the deposit. NRB has also set a condition where the BFIs must have issued the shares allocated to general public.</p>

<p style="text-align: justify;">Likewise, the BFIs which are not announced problematic or completed 6 months since announced problem free are also allowed to apply for the fixed deposit of NRB.&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4728',
			'image' => '20161209012020_nrb.jpg',
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	(int) 12 => array(
		'Article' => array(
			'id' => '4897',
			'article_category_id' => '1',
			'title' => 'China to deliver IPS Service in Nepal',
			'sub_title' => ' Ends Indian Monopoly',
			'summary' => 'December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third coun',
			'content' => '<p style="text-align: justify;">December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third country in order to deliver IP service in Nepal. CTG will be providing IP service in Nepal through the terrestrial cable route linking Nepal and China via Rasuwa-Jilong gateway.&nbsp;</p>

<p style="text-align: justify;"><br />
Lochan Lal Amatya, chief technical officer NT and Yan Ou executive president of CTG executive signed the MoU regarding the matter in a program organised in Hong Kong on December 6.&nbsp;</p>

<p style="text-align: justify;">In the program, Amatya said that NT would benefit through the terrestrial cable route. He also expressed hope that the CTG would provide a reliable service and that Nepal could be established as a transit hub for it.</p>

<p style="text-align: justify;"><br />
Similarly, Yan said that CTG has been expanding its service into the Himalayan area and that China-Nepal route could provide service to Nepal and transit service from India.&nbsp;</p>
',
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			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4727',
			'image' => '20161209122200_ips.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '4896',
			'article_category_id' => '1',
			'title' => 'Samsung Smartphone Cafe in Newroad',
			'sub_title' => '',
			'summary' => 'December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra s',
			'content' => '<p style="text-align: justify;">December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra said that the cafe has been re-launched so that to provide best experience to the customer.</p>

<p style="text-align: justify;">The customers purchasing Samsung mobile from the cafe will be provided free 6 GB data till December 14, informed the press statement issued by the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4726',
			'image' => '20161209112307_samsung cafe.jpg',
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			'id' => '4895',
			'article_category_id' => '1',
			'title' => 'Nepal Investment Bags 'Bank of the Year' Award',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Investment Bank has bagged 'Bank of the Year 2016' award. London Based magazine 'The Banker' published by 'The Financial Times London honoured the bank with the award.',
			'content' => '<p style="text-align: justify;">December 9: Nepal Investment Bank has bagged &#39;Bank of the Year 2016&#39; award. London Based magazine &#39;The Banker&#39; published by &#39;The Financial Times London honoured the bank with the award.</p>

<p style="text-align: justify;">Prithwi Bahadur Pande, Chairman and Jyoti Pandey, CEO of the bank received the award amid a program organised in London. With the award, the bank has bagged the award for fifth time. Presently, the bank is providing its services through its network of 48 branches and 83 ATMs.&nbsp;</p>
',
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			'sortorder' => '4725',
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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Controller::render() - CORE/Cake/Controller/Controller.php, line 968
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		'Article' => array(
			'id' => '4909',
			'article_category_id' => '1',
			'title' => '30% Work Completed in Upper Dordi ‘A’',
			'sub_title' => '',
			'summary' => 'December 11: The 25MW Upper Dordi ‘A’ hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and p',
			'content' => '<p style="text-align: justify;">December 11:&nbsp;The 25MW Upper Dordi &lsquo;A&rsquo; hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and penstock pipes related works have finished. &ldquo;The tunnel work was halted for nine months by last year&rsquo;s earthquake and Terai unrest,&rdquo; he said, adding, &ldquo;After the interruption, the civil construction work is moving ahead.&rdquo; As per him, the construction of power house is also moving at same time. Of 2800 kilometers, 750 meters tunnel digging work has also finished.</p>

<p style="text-align: justify;">With the investment of promoters and on the leadership of Nepal Investment Bank, eight other banks have invested in hydropower amounting to Rs 4.50 billion at Dordi &lsquo;A&rsquo;. The project will announce share for locals and public on the annual general meeting (AGM) which will be held on Dec/Jan. Singh said that as per the regulation, 10 percent share will be offered to locals and 15 percent to public.</p>

<p style="text-align: justify;">Constructed under &lsquo;run of the river&rsquo; system, the land acquirement and forest related task has been solved. As per Singh, the demands of locals on road construction and other facilities are pended. The project will be concluded by the June/July of 2018. The electricity produced from the project will be connected to central grid. For the purpose, Nepal Electricity Authority (NEA) had already procured land for the construction of sub-station.</p>

<p style="text-align: justify;">If the Authority moves the construction work of sub-station fast, the transmission line will be ready by the completion of the project. The 14 kilometers distanced transmission line constructed on investment of Rs 100 million will be beneficial for Upper Dordi A and Dordi (27MW) as well. With the construction of the transmission line, Dordi corridor which carries the second highest hydropower potential after Marsyangdi in Lamjung will open the way to construction other projects.</p>

<p style="text-align: justify;">Meanwhile, NEA and Dordi A have made an agreement in which the electricity produced by Dordi &lsquo;A&rsquo; will be paid Rs 8.4 during winter and Rs 4.8 per unit during summer by the NEA.&nbsp;</p>
',
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			'sortorder' => '4739',
			'image' => '20161211031344_DORDI A.jpg',
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		'Article' => array(
			'id' => '4908',
			'article_category_id' => '1',
			'title' => 'Sherpa Wins Carlsberg Golf 2016',
			'sub_title' => '',
			'summary' => 'December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished ',
			'content' => '<p style="text-align: justify;">December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished second and third respectively.</p>

<p style="text-align: justify;">Vijay Shrestha Einhus won the gross section title with 35 points. Shrestha also bagged the longest dive award hitting a drive of 330 yards. Awards were handed to the winners, gross winner, female winner, senior winner, longest drive, closest to the pin and most birdies during the competition.</p>

<p style="text-align: justify;">According to Arun Adhikari, Managing Director of Gorkha Brewery, Carlsberg Golf has been providing a good platform for emerging and talented golfers.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'keywords' => '',
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			'sortorder' => '4738',
			'image' => '20161211021250_carlsberg.jpg',
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		'Article' => array(
			'id' => '4907',
			'article_category_id' => '1',
			'title' => 'Share Market and Liquidity',
			'sub_title' => '',
			'summary' => 'December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates ',
			'content' => '<p style="text-align:justify">December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates excess liquidity problem which also directly influence the share market.</p>

<p style="text-align:justify">Excess liquidity problem in BFIs arises due to the lack of favourable investment environment resulting low interest rate on loan extension. In such circumstance, share investors take loan from banking system and invest in share market. However, when the BFIs lack liquidity, they attract deposit by increasing deposit interest rate. In such situation, share investors sell their share ownerships and invest in bank deposits which take the share market downward.</p>

<p style="text-align:justify">At this point of time, it is rumoured that the market lacks liquidity. In the current FY, decreased growth rate of remittance flow, increased growth rate of import, minimal income from tourism sector have caused lack of liquidity in the market. As a result, the discount rate of government Treasury bill has increased. The discount rate which was less than 1 per cent during mid-August increased to 3 per cent during mid-November. However, on November 29, the discount rate of 91 days Treasury bill was 2.4999 per cent that shows of reduction in liquidity problem in the banking system.</p>

<p style="text-align:justify">Similarly, the BFIs have also increased the interest rate on deposits on the verge of liquidity problem. &nbsp;Apparently, the share investors are getting attracted to increased interest rate of bank deposit which is a safe investment compare to share investment. Due to which, the market capitalisation which was Rs 2000 billion on September 5 has decreased to Rs 1718 billion on December 8. &nbsp;Investors&#39; lack of confidence in share market and attraction in secure investment has resulted in rise in bank deposits. The banks avoids margin lending in such condition however, such scenario of the security market is of temporary nature.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4737',
			'image' => '20161211021948_sharemarekt and liquidity.jpg',
			'article_date' => '2016-12-11 00:00:00',
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '4906',
			'article_category_id' => '1',
			'title' => 'Interbank Interest Rate in Declining Trend',
			'sub_title' => '',
			'summary' => 'December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per ',
			'content' => '<p style="text-align: justify;">December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per cent in the last day from 2.79 per cent of the first day during the last week. The decreasing interbank interest rate indicates of mounting liquidity in the market.</p>

<p style="text-align: justify;">In the initial phase of the current FY, the rate was 1.14 per cent. The rate gradually decreased to 0.36 per cent during the month which is the least interbank rate of the current FY. However, the rate rose to 4.2551 per cent during the festive season of Dashain-Tihar. After the festive season, the rate increased to 4.3511 per cent once which is the highest rate of the current FY. After the raise, the interbank interest rate was once again in decreasing trend and reached 1.9550 on December 2.</p>

<p style="text-align: justify;">The declining interbank interest rate since last two weeks indicates of decreasing liquidity problems in banks and financial institutions (BFIs). &nbsp;It also shows the potential decline in interest rate given on deposits by BFIs.&nbsp; The BFIs offered 7-8 per cent interest rate on deposits two weeks ago citing lack of liquidity.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4736',
			'image' => '20161211125455_interbank.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 4 => array(
		'Article' => array(
			'id' => '4905',
			'article_category_id' => '1',
			'title' => 'Premier Insurance Appoints NMB Capital as its Issue Manager',
			'sub_title' => '',
			'summary' => 'December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.',
			'content' => '<p style="text-align: justify;">December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.</p>

<p style="text-align: justify;">Premier Insurance informed that the FPO will be issued in premium rate with the face value of Rs 100. &nbsp;According to the company, the promoter and general share proportion will set at 51:49 after the issuance of FPO. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4735',
			'image' => '20161211120033_premier.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '4904',
			'article_category_id' => '1',
			'title' => 'Himalayan Distillery to Distribute 20% Cash Dividend',
			'sub_title' => '',
			'summary' => 'December 11: Himalayan Distillery has conducted its 16th annual general meeting on December 9. The AGM held at company's office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.',
			'content' => '<p style="text-align: justify;">December 11: Himalayan Distillery has conducted its 16<sup>th</sup> annual general meeting on December 9. The AGM held at company&#39;s office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4734',
			'image' => '20161211114824_himalayan disti.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '4903',
			'article_category_id' => '1',
			'title' => 'Tata's Two New Showrooms in Kathmandu and Bhaktapur',
			'sub_title' => '',
			'summary' => 'December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started 'Sashila Motors' at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.',
			'content' => '<p style="text-align: justify;">December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started &#39;Sashila Motors&#39; at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.</p>

<p style="text-align: justify;">Satish Macheraju, South Asia Regional Director of Tata Motors and Sourya Rana, Director of Sipradi Trading jointly inaugurated the showrooms amid a program organised in the capital. The inauguration program was attended by higher officials of Sipradi Trading including Sambhu Prasad Dhahal, Director, Rajan Babu Shrestha, CEO,Rajesh Prasad Giri, Chief Operating Officer and Bodh Prakash Mukhiya, Nepal-Bhutan Country Manager of Tata Motors.</p>

<p style="text-align: justify;">&quot;Sashila Motors will make Tata commercial vehicles easily available to the traders of Kathmandu and Bhaktapur with a facility of bank finance,&quot; said Santosh Khatiwada, Managing Director of the showroom.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4733',
			'image' => '20161211113814_tata.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '4902',
			'article_category_id' => '1',
			'title' => 'Everest Bank Adds More Features to Indo-Nepal Remit ',
			'sub_title' => '',
			'summary' => 'December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds “ONLINE”. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any ',
			'content' => '<p>December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds &ldquo;ONLINE&rdquo;. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any branch of PNB) to any branch of Everest Bank in Nepal and more than 500 business correspondents located in remote parts of the county, reads the press statement issued by the bank.&nbsp;</p>

<p>Presently, the bank is rendering its banking services through its domestic network of 61 branches, 5 Extension Counters, 24 Revenue Collection Counters, 86 ATMs and many correspondents across the globe.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4732',
			'image' => '20161209050547_everst.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '4901',
			'article_category_id' => '1',
			'title' => 'Government organising International Investment Conference on March 2-3',
			'sub_title' => '',
			'summary' => 'December 9:  Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.  The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the',
			'content' => '<p style="text-align: justify;">December 9:&nbsp; Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.</p>

<p style="text-align: justify;">The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the investment in Nepal.</p>

<p style="text-align: justify;">Joshi said &quot;The conference will reassure the foreign investors about the security of their investment. However, the Nepali political leaders should also express their commitment to assure foreigners for investment protection.&quot;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4731',
			'image' => '20161209043312_NEPAL.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '4900',
			'article_category_id' => '1',
			'title' => 'ADB Grants $20 Million to Spur Private Sector Solar Power Investment in Nepal',
			'sub_title' => '',
			'summary' => 'December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicat',
			'content' => '<p style="text-align: justify;">December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicated and scaled up elsewhere in the energy-strapped South Asian nation, said the bank issuing a press statement.</p>

<p style="text-align: justify;"><br />
The grant will be used to finance the difference between private sector cost of producing utility-scale solar power and the minimum price that the Nepal Electricity Authority is willing to pay for the power. This is the first time that Nepal has ever used so-called &ldquo;viability gap&rdquo; funding.&nbsp;<br />
&ldquo;Providing some financial security to the private sector should draw more private investment into this critical sector in Nepal and, in doing so, reduce pressure on government finances,&rdquo; said Aiming Zhou, Senior Energy Specialist at ADB&rsquo;s South Asia Regional Department. &ldquo;And once the private sector better understands the Nepal solar sector, I would expect them to seek investment opportunities elsewhere in Nepal or indeed the region.&rdquo;</p>

<p style="text-align: justify;"><br />
According to the Manila based bank, companies will now be able to bid to develop solar systems through an international competitive bidding process, with power purchase agreements awarded on the basis of the best offtake prices. The funding under the grant will be payable on the first day of operation of the solar system, up to end June, 2022. Bidding is expected to start in the first quarter of 2017 and last around 6 to 12 months.</p>

<p style="text-align: justify;"><br />
The $20 million grant is being financed by the Scaling Up Renewable Energy in Low Income Countries Program (SREP) of the Climate Investment Funds (CIF) administered by the Asian Development Bank (ADB). It will form part of the $440.50 million South Asia Subregional Economic Cooperation Power System Expansion Project, which kicked off in January 2015, reads the statement.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4730',
			'image' => '20161209040255_adb.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '4899',
			'article_category_id' => '1',
			'title' => 'CBS Preparing for Economic Census for First Time',
			'sub_title' => '',
			'summary' => 'December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as ‘Economic Census Year’ started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employmen',
			'content' => '<p style="text-align: justify;">December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as &lsquo;Economic Census Year&rsquo; started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employment. The census will present clear glimpse of economic activities of every kind.&nbsp;</p>

<p style="text-align: justify;">&nbsp;&ldquo;Presently, the statistics of gross domestic product (GDP) of Nepal do not reflect actual scenario,&rdquo; he said, adding, &ldquo;The economic census of 2018 will take us near to the actual GDP.&rdquo; In 1961, for the first time, Nepal announced the GDP. &nbsp;After the census, changes can be observed in the size and structure of the economy of Nepal. It has been said that currently the economic size of the country is Rs 21 billion. The census will also show the changes in the economic size, as per him.</p>

<p style="text-align: justify;">CBS will be conducting economic census from the mid of 2018 and is preparing necessary ground work. The Department after the first economic census will conduct the census in the gap of five years. The census will give the actual picture of the contribution made by various sectors of the economy.</p>

<p style="text-align: justify;">Currently, CBS is preparing for determining the mapping of census area. The department will be mobilizing 5000 data collectors for three months. Suwal informed that the preliminary census will be unveiled in two or three days after finishing taking census and complete details will come out after a year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4729',
			'image' => '20161209015641_cbs.JPG',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '4898',
			'article_category_id' => '1',
			'title' => 'NRB to Invest 6.5 Billion in Fixed Deposit',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on 'A' listed commercial banks, 'B' listed national level development banks and 'C' listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned ba',
			'content' => '<p style="text-align: justify;">December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on &#39;A&#39; listed commercial banks, &#39;B&#39; listed national level development banks and &#39;C&#39; listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned banks and financial institutions (BFIs) from December 16 2016 to December 15 2017.</p>

<p style="text-align: justify;">The central bank is investing Rs 5.18 billion as FD in &#39;A&#39; listed commercial bank. Similarly, the bank is investing Rs 972 million and Rs 324 million as FD in &#39;B&#39; listed and &#39;C&#39; listed BFIs. The bank has applied 11 conditions to invest the fund in the listed BFIs.</p>

<p style="text-align: justify;">The NRB has issued a notice in which the interested BFIs are asked to submitted a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by December 9 1300 hours. The BFIs willing to take the FD must have come into operation for two years and should have minimum capital fund. The BFIs must fulfil the categories including the non-performing loan should be less than 5 per cent of total loan extension, net liquid assets should meet 20 per cent or more of the total domestic deposits will be eligible. According to NRB, the BFIs must have maintained the loan, domestic deposit and primary capital proportion as per the timely set standard by the central bank.</p>

<p style="text-align: justify;">Similarly, the BFIs earning operating profit in last FY and having real estate investment not exceeding NRB set limit can also participate in the FD plan. However, BFIs leaded by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.</p>

<p style="text-align: justify;">Similarly, BFIs completing minimum of 6 months from the Prompt Corrective Action taken by NRB can also apply for the deposit. NRB has also set a condition where the BFIs must have issued the shares allocated to general public.</p>

<p style="text-align: justify;">Likewise, the BFIs which are not announced problematic or completed 6 months since announced problem free are also allowed to apply for the fixed deposit of NRB.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4728',
			'image' => '20161209012020_nrb.jpg',
			'article_date' => '2016-12-09 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' => '4897',
			'article_category_id' => '1',
			'title' => 'China to deliver IPS Service in Nepal',
			'sub_title' => ' Ends Indian Monopoly',
			'summary' => 'December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third coun',
			'content' => '<p style="text-align: justify;">December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third country in order to deliver IP service in Nepal. CTG will be providing IP service in Nepal through the terrestrial cable route linking Nepal and China via Rasuwa-Jilong gateway.&nbsp;</p>

<p style="text-align: justify;"><br />
Lochan Lal Amatya, chief technical officer NT and Yan Ou executive president of CTG executive signed the MoU regarding the matter in a program organised in Hong Kong on December 6.&nbsp;</p>

<p style="text-align: justify;">In the program, Amatya said that NT would benefit through the terrestrial cable route. He also expressed hope that the CTG would provide a reliable service and that Nepal could be established as a transit hub for it.</p>

<p style="text-align: justify;"><br />
Similarly, Yan said that CTG has been expanding its service into the Himalayan area and that China-Nepal route could provide service to Nepal and transit service from India.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4727',
			'image' => '20161209122200_ips.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
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	(int) 13 => array(
		'Article' => array(
			'id' => '4896',
			'article_category_id' => '1',
			'title' => 'Samsung Smartphone Cafe in Newroad',
			'sub_title' => '',
			'summary' => 'December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra s',
			'content' => '<p style="text-align: justify;">December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra said that the cafe has been re-launched so that to provide best experience to the customer.</p>

<p style="text-align: justify;">The customers purchasing Samsung mobile from the cafe will be provided free 6 GB data till December 14, informed the press statement issued by the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4726',
			'image' => '20161209112307_samsung cafe.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '4895',
			'article_category_id' => '1',
			'title' => 'Nepal Investment Bags 'Bank of the Year' Award',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Investment Bank has bagged 'Bank of the Year 2016' award. London Based magazine 'The Banker' published by 'The Financial Times London honoured the bank with the award.',
			'content' => '<p style="text-align: justify;">December 9: Nepal Investment Bank has bagged &#39;Bank of the Year 2016&#39; award. London Based magazine &#39;The Banker&#39; published by &#39;The Financial Times London honoured the bank with the award.</p>

<p style="text-align: justify;">Prithwi Bahadur Pande, Chairman and Jyoti Pandey, CEO of the bank received the award amid a program organised in London. With the award, the bank has bagged the award for fifth time. Presently, the bank is providing its services through its network of 48 branches and 83 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4725',
			'image' => '20161209105759_nibl.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
Code Context
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		'Article' => array(
			'id' => '4909',
			'article_category_id' => '1',
			'title' => '30% Work Completed in Upper Dordi ‘A’',
			'sub_title' => '',
			'summary' => 'December 11: The 25MW Upper Dordi ‘A’ hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and p',
			'content' => '<p style="text-align: justify;">December 11:&nbsp;The 25MW Upper Dordi &lsquo;A&rsquo; hydropower has finished 30 per cent of construction work that is being under construction at Dordi River in Lamjung district. According to Bishnu Bahadur Singh, Chief Executive Engineer (CEE) of the project, digging of tunnel, dam construction, and penstock pipes related works have finished. &ldquo;The tunnel work was halted for nine months by last year&rsquo;s earthquake and Terai unrest,&rdquo; he said, adding, &ldquo;After the interruption, the civil construction work is moving ahead.&rdquo; As per him, the construction of power house is also moving at same time. Of 2800 kilometers, 750 meters tunnel digging work has also finished.</p>

<p style="text-align: justify;">With the investment of promoters and on the leadership of Nepal Investment Bank, eight other banks have invested in hydropower amounting to Rs 4.50 billion at Dordi &lsquo;A&rsquo;. The project will announce share for locals and public on the annual general meeting (AGM) which will be held on Dec/Jan. Singh said that as per the regulation, 10 percent share will be offered to locals and 15 percent to public.</p>

<p style="text-align: justify;">Constructed under &lsquo;run of the river&rsquo; system, the land acquirement and forest related task has been solved. As per Singh, the demands of locals on road construction and other facilities are pended. The project will be concluded by the June/July of 2018. The electricity produced from the project will be connected to central grid. For the purpose, Nepal Electricity Authority (NEA) had already procured land for the construction of sub-station.</p>

<p style="text-align: justify;">If the Authority moves the construction work of sub-station fast, the transmission line will be ready by the completion of the project. The 14 kilometers distanced transmission line constructed on investment of Rs 100 million will be beneficial for Upper Dordi A and Dordi (27MW) as well. With the construction of the transmission line, Dordi corridor which carries the second highest hydropower potential after Marsyangdi in Lamjung will open the way to construction other projects.</p>

<p style="text-align: justify;">Meanwhile, NEA and Dordi A have made an agreement in which the electricity produced by Dordi &lsquo;A&rsquo; will be paid Rs 8.4 during winter and Rs 4.8 per unit during summer by the NEA.&nbsp;</p>
',
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			'sortorder' => '4739',
			'image' => '20161211031344_DORDI A.jpg',
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			'id' => '4908',
			'article_category_id' => '1',
			'title' => 'Sherpa Wins Carlsberg Golf 2016',
			'sub_title' => '',
			'summary' => 'December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished ',
			'content' => '<p style="text-align: justify;">December 11: Pemba Sherpa has won the Carlsberg Golf 2016 title at the Gokarna Forest Resort on Saturday. Sherpa, playing with eight-handicap golfer, accumulated 37 stableford points to claim the title. Former SSP Rajendra Shrestha and Former Major General Mahesh Bikram Karki finished second and third respectively.</p>

<p style="text-align: justify;">Vijay Shrestha Einhus won the gross section title with 35 points. Shrestha also bagged the longest dive award hitting a drive of 330 yards. Awards were handed to the winners, gross winner, female winner, senior winner, longest drive, closest to the pin and most birdies during the competition.</p>

<p style="text-align: justify;">According to Arun Adhikari, Managing Director of Gorkha Brewery, Carlsberg Golf has been providing a good platform for emerging and talented golfers.</p>

<p style="text-align: justify;">&nbsp;</p>

<p style="text-align: justify;">&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4738',
			'image' => '20161211021250_carlsberg.jpg',
			'article_date' => '2016-12-11 00:00:00',
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		'Article' => array(
			'id' => '4907',
			'article_category_id' => '1',
			'title' => 'Share Market and Liquidity',
			'sub_title' => '',
			'summary' => 'December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates ',
			'content' => '<p style="text-align:justify">December 11: Lack or excess of investable fund in banking system is generally called liquidity problem. Liquidity problem arises with the imbalance of deposit collection and loan extension. When the growth rate of loan compare to deposit is low and absent of new investment sector in the market creates excess liquidity problem which also directly influence the share market.</p>

<p style="text-align:justify">Excess liquidity problem in BFIs arises due to the lack of favourable investment environment resulting low interest rate on loan extension. In such circumstance, share investors take loan from banking system and invest in share market. However, when the BFIs lack liquidity, they attract deposit by increasing deposit interest rate. In such situation, share investors sell their share ownerships and invest in bank deposits which take the share market downward.</p>

<p style="text-align:justify">At this point of time, it is rumoured that the market lacks liquidity. In the current FY, decreased growth rate of remittance flow, increased growth rate of import, minimal income from tourism sector have caused lack of liquidity in the market. As a result, the discount rate of government Treasury bill has increased. The discount rate which was less than 1 per cent during mid-August increased to 3 per cent during mid-November. However, on November 29, the discount rate of 91 days Treasury bill was 2.4999 per cent that shows of reduction in liquidity problem in the banking system.</p>

<p style="text-align:justify">Similarly, the BFIs have also increased the interest rate on deposits on the verge of liquidity problem. &nbsp;Apparently, the share investors are getting attracted to increased interest rate of bank deposit which is a safe investment compare to share investment. Due to which, the market capitalisation which was Rs 2000 billion on September 5 has decreased to Rs 1718 billion on December 8. &nbsp;Investors&#39; lack of confidence in share market and attraction in secure investment has resulted in rise in bank deposits. The banks avoids margin lending in such condition however, such scenario of the security market is of temporary nature.&nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4737',
			'image' => '20161211021948_sharemarekt and liquidity.jpg',
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		'Article' => array(
			'id' => '4906',
			'article_category_id' => '1',
			'title' => 'Interbank Interest Rate in Declining Trend',
			'sub_title' => '',
			'summary' => 'December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per ',
			'content' => '<p style="text-align: justify;">December 11: The daily weighted average interbank interest rate during the last week has declined. According to the report published by Nepal Rastra Bank (NRB), the rate reached 1.95 per cent in the last day from 2.79 per cent of the first day during the last week. The decreasing interbank interest rate indicates of mounting liquidity in the market.</p>

<p style="text-align: justify;">In the initial phase of the current FY, the rate was 1.14 per cent. The rate gradually decreased to 0.36 per cent during the month which is the least interbank rate of the current FY. However, the rate rose to 4.2551 per cent during the festive season of Dashain-Tihar. After the festive season, the rate increased to 4.3511 per cent once which is the highest rate of the current FY. After the raise, the interbank interest rate was once again in decreasing trend and reached 1.9550 on December 2.</p>

<p style="text-align: justify;">The declining interbank interest rate since last two weeks indicates of decreasing liquidity problems in banks and financial institutions (BFIs). &nbsp;It also shows the potential decline in interest rate given on deposits by BFIs.&nbsp; The BFIs offered 7-8 per cent interest rate on deposits two weeks ago citing lack of liquidity.&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4736',
			'image' => '20161211125455_interbank.jpg',
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			'id' => '4905',
			'article_category_id' => '1',
			'title' => 'Premier Insurance Appoints NMB Capital as its Issue Manager',
			'sub_title' => '',
			'summary' => 'December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.',
			'content' => '<p style="text-align: justify;">December 11: Premier Insurance Company (Nepal) has appointed NMB Capital as its Issue Manger for its upcoming further public offering (FPO).Sudhumna Prasad Upadhya, CEO of Premier and Srijesh Ghimire, CEO of NMB Capital signed an agreement regarding the matter amid a program on December 9.</p>

<p style="text-align: justify;">Premier Insurance informed that the FPO will be issued in premium rate with the face value of Rs 100. &nbsp;According to the company, the promoter and general share proportion will set at 51:49 after the issuance of FPO. &nbsp;</p>
',
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			'keywords' => '',
			'description' => '',
			'sortorder' => '4735',
			'image' => '20161211120033_premier.jpg',
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			'homepage' => false,
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		'Article' => array(
			'id' => '4904',
			'article_category_id' => '1',
			'title' => 'Himalayan Distillery to Distribute 20% Cash Dividend',
			'sub_title' => '',
			'summary' => 'December 11: Himalayan Distillery has conducted its 16th annual general meeting on December 9. The AGM held at company's office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.',
			'content' => '<p style="text-align: justify;">December 11: Himalayan Distillery has conducted its 16<sup>th</sup> annual general meeting on December 9. The AGM held at company&#39;s office premises located at Lipanibirta, Parsa approved the proposal of distributing 20 per cent cash dividend. The meeting also approved the financial report of the company of the FY 2072/73.</p>
',
			'published' => true,
			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4734',
			'image' => '20161211114824_himalayan disti.jpg',
			'article_date' => '2016-12-11 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 6 => array(
		'Article' => array(
			'id' => '4903',
			'article_category_id' => '1',
			'title' => 'Tata's Two New Showrooms in Kathmandu and Bhaktapur',
			'sub_title' => '',
			'summary' => 'December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started 'Sashila Motors' at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.',
			'content' => '<p style="text-align: justify;">December 11: Tata Company has launched two advanced new showrooms to sell its commercial vehicles. The company started &#39;Sashila Motors&#39; at Ravibhawan, Kathmandu and Suryabinayak, Bhaktapur.</p>

<p style="text-align: justify;">Satish Macheraju, South Asia Regional Director of Tata Motors and Sourya Rana, Director of Sipradi Trading jointly inaugurated the showrooms amid a program organised in the capital. The inauguration program was attended by higher officials of Sipradi Trading including Sambhu Prasad Dhahal, Director, Rajan Babu Shrestha, CEO,Rajesh Prasad Giri, Chief Operating Officer and Bodh Prakash Mukhiya, Nepal-Bhutan Country Manager of Tata Motors.</p>

<p style="text-align: justify;">&quot;Sashila Motors will make Tata commercial vehicles easily available to the traders of Kathmandu and Bhaktapur with a facility of bank finance,&quot; said Santosh Khatiwada, Managing Director of the showroom.</p>
',
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			'created' => '2016-12-11',
			'modified' => '2016-12-11',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4733',
			'image' => '20161211113814_tata.jpg',
			'article_date' => '2016-12-11 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '4902',
			'article_category_id' => '1',
			'title' => 'Everest Bank Adds More Features to Indo-Nepal Remit ',
			'sub_title' => '',
			'summary' => 'December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds “ONLINE”. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any ',
			'content' => '<p>December 9: Everest Bank for the first time in Nepal had launched Indo-Nepal Remit under which customers through any branch of Punjab National Bank, India could remit funds &ldquo;ONLINE&rdquo;. The bank with the help of Punjab National Bank has made it possible for Nepalis working in India to remit funds online through the use of mobile (without visiting any branch of PNB) to any branch of Everest Bank in Nepal and more than 500 business correspondents located in remote parts of the county, reads the press statement issued by the bank.&nbsp;</p>

<p>Presently, the bank is rendering its banking services through its domestic network of 61 branches, 5 Extension Counters, 24 Revenue Collection Counters, 86 ATMs and many correspondents across the globe.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4732',
			'image' => '20161209050547_everst.jpg',
			'article_date' => '2016-12-09 00:00:00',
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		'Article' => array(
			'id' => '4901',
			'article_category_id' => '1',
			'title' => 'Government organising International Investment Conference on March 2-3',
			'sub_title' => '',
			'summary' => 'December 9:  Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.  The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the',
			'content' => '<p style="text-align: justify;">December 9:&nbsp; Nepal government is preparing to organise the International Investment Conference on March 2-3, 2017.</p>

<p style="text-align: justify;">The conference directive committee under the leader ship of Nabindra Raj Joshi, Minister for Industry decided of organising the conference so that to inform the foreign investors about the legal and administrative framework along with the political commitment for the investment in Nepal.</p>

<p style="text-align: justify;">Joshi said &quot;The conference will reassure the foreign investors about the security of their investment. However, the Nepali political leaders should also express their commitment to assure foreigners for investment protection.&quot;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4731',
			'image' => '20161209043312_NEPAL.jpg',
			'article_date' => '2016-12-09 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '4900',
			'article_category_id' => '1',
			'title' => 'ADB Grants $20 Million to Spur Private Sector Solar Power Investment in Nepal',
			'sub_title' => '',
			'summary' => 'December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicat',
			'content' => '<p style="text-align: justify;">December 9: Asian Development Bank has granted a $20 million to Nepal to spur private sector investment in utility-scale solar power. The funding should ensure installation of at least 25 megawatts (MW) of solar power by 2018 but, more importantly, will provide a business model that can be replicated and scaled up elsewhere in the energy-strapped South Asian nation, said the bank issuing a press statement.</p>

<p style="text-align: justify;"><br />
The grant will be used to finance the difference between private sector cost of producing utility-scale solar power and the minimum price that the Nepal Electricity Authority is willing to pay for the power. This is the first time that Nepal has ever used so-called &ldquo;viability gap&rdquo; funding.&nbsp;<br />
&ldquo;Providing some financial security to the private sector should draw more private investment into this critical sector in Nepal and, in doing so, reduce pressure on government finances,&rdquo; said Aiming Zhou, Senior Energy Specialist at ADB&rsquo;s South Asia Regional Department. &ldquo;And once the private sector better understands the Nepal solar sector, I would expect them to seek investment opportunities elsewhere in Nepal or indeed the region.&rdquo;</p>

<p style="text-align: justify;"><br />
According to the Manila based bank, companies will now be able to bid to develop solar systems through an international competitive bidding process, with power purchase agreements awarded on the basis of the best offtake prices. The funding under the grant will be payable on the first day of operation of the solar system, up to end June, 2022. Bidding is expected to start in the first quarter of 2017 and last around 6 to 12 months.</p>

<p style="text-align: justify;"><br />
The $20 million grant is being financed by the Scaling Up Renewable Energy in Low Income Countries Program (SREP) of the Climate Investment Funds (CIF) administered by the Asian Development Bank (ADB). It will form part of the $440.50 million South Asia Subregional Economic Cooperation Power System Expansion Project, which kicked off in January 2015, reads the statement.&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4730',
			'image' => '20161209040255_adb.jpg',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4899',
			'article_category_id' => '1',
			'title' => 'CBS Preparing for Economic Census for First Time',
			'sub_title' => '',
			'summary' => 'December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as ‘Economic Census Year’ started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employmen',
			'content' => '<p style="text-align: justify;">December 9: Central Bureau of Statistics (CBS) is preparing to undertake the census of economic activities for the first time in Nepal. The Bureau declaring 2018 as &lsquo;Economic Census Year&rsquo; started the preparation. According to the Dr Rudra Suwal, Deputy Director General of the Bureau, the economic census will be conducted on all 15 economic areas including agriculture, mine, transportation, industries, tourism and employment. The census will present clear glimpse of economic activities of every kind.&nbsp;</p>

<p style="text-align: justify;">&nbsp;&ldquo;Presently, the statistics of gross domestic product (GDP) of Nepal do not reflect actual scenario,&rdquo; he said, adding, &ldquo;The economic census of 2018 will take us near to the actual GDP.&rdquo; In 1961, for the first time, Nepal announced the GDP. &nbsp;After the census, changes can be observed in the size and structure of the economy of Nepal. It has been said that currently the economic size of the country is Rs 21 billion. The census will also show the changes in the economic size, as per him.</p>

<p style="text-align: justify;">CBS will be conducting economic census from the mid of 2018 and is preparing necessary ground work. The Department after the first economic census will conduct the census in the gap of five years. The census will give the actual picture of the contribution made by various sectors of the economy.</p>

<p style="text-align: justify;">Currently, CBS is preparing for determining the mapping of census area. The department will be mobilizing 5000 data collectors for three months. Suwal informed that the preliminary census will be unveiled in two or three days after finishing taking census and complete details will come out after a year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p>
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '4898',
			'article_category_id' => '1',
			'title' => 'NRB to Invest 6.5 Billion in Fixed Deposit',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on 'A' listed commercial banks, 'B' listed national level development banks and 'C' listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned ba',
			'content' => '<p style="text-align: justify;">December 9: Nepal Rastra Bank (NRB) is investing Rs 6.49 billion on &#39;A&#39; listed commercial banks, &#39;B&#39; listed national level development banks and &#39;C&#39; listed national level finance companies. The central bank is investing the funds accumulated in its various trusts as fixed deposits (FD) in the aforementioned banks and financial institutions (BFIs) from December 16 2016 to December 15 2017.</p>

<p style="text-align: justify;">The central bank is investing Rs 5.18 billion as FD in &#39;A&#39; listed commercial bank. Similarly, the bank is investing Rs 972 million and Rs 324 million as FD in &#39;B&#39; listed and &#39;C&#39; listed BFIs. The bank has applied 11 conditions to invest the fund in the listed BFIs.</p>

<p style="text-align: justify;">The NRB has issued a notice in which the interested BFIs are asked to submitted a duly sealed price quotation form with the specified amount the BFIs willing to take as FD by December 9 1300 hours. The BFIs willing to take the FD must have come into operation for two years and should have minimum capital fund. The BFIs must fulfil the categories including the non-performing loan should be less than 5 per cent of total loan extension, net liquid assets should meet 20 per cent or more of the total domestic deposits will be eligible. According to NRB, the BFIs must have maintained the loan, domestic deposit and primary capital proportion as per the timely set standard by the central bank.</p>

<p style="text-align: justify;">Similarly, the BFIs earning operating profit in last FY and having real estate investment not exceeding NRB set limit can also participate in the FD plan. However, BFIs leaded by Directors, CEO or Executive Directors against whom NRB has taken action will not get an opportunity to participate.</p>

<p style="text-align: justify;">Similarly, BFIs completing minimum of 6 months from the Prompt Corrective Action taken by NRB can also apply for the deposit. NRB has also set a condition where the BFIs must have issued the shares allocated to general public.</p>

<p style="text-align: justify;">Likewise, the BFIs which are not announced problematic or completed 6 months since announced problem free are also allowed to apply for the fixed deposit of NRB.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4728',
			'image' => '20161209012020_nrb.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '4897',
			'article_category_id' => '1',
			'title' => 'China to deliver IPS Service in Nepal',
			'sub_title' => ' Ends Indian Monopoly',
			'summary' => 'December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third coun',
			'content' => '<p style="text-align: justify;">December 9: Indian monopoly in internet bandwidth on Nepal has finally ended with the signing of MoU between Nepal Telecom (NT), the state-owned telecommunication service provider and China Telecom Global Limited (CTG). It is the first time that the country signed an agreement with third country in order to deliver IP service in Nepal. CTG will be providing IP service in Nepal through the terrestrial cable route linking Nepal and China via Rasuwa-Jilong gateway.&nbsp;</p>

<p style="text-align: justify;"><br />
Lochan Lal Amatya, chief technical officer NT and Yan Ou executive president of CTG executive signed the MoU regarding the matter in a program organised in Hong Kong on December 6.&nbsp;</p>

<p style="text-align: justify;">In the program, Amatya said that NT would benefit through the terrestrial cable route. He also expressed hope that the CTG would provide a reliable service and that Nepal could be established as a transit hub for it.</p>

<p style="text-align: justify;"><br />
Similarly, Yan said that CTG has been expanding its service into the Himalayan area and that China-Nepal route could provide service to Nepal and transit service from India.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4727',
			'image' => '20161209122200_ips.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '4896',
			'article_category_id' => '1',
			'title' => 'Samsung Smartphone Cafe in Newroad',
			'sub_title' => '',
			'summary' => 'December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra s',
			'content' => '<p style="text-align: justify;">December 9: Integrated Mobility Solutions (IMS) Smart has re-launched the Samsung Smartphone Cafe at Newroad, Kathmandu. Deepak Malhotra, Chairman of the IME Group and Dikesh Malhotra, President and CEO of the company jointly inaugurated the cafe on December 8. Chairman Malhotra said that the cafe has been re-launched so that to provide best experience to the customer.</p>

<p style="text-align: justify;">The customers purchasing Samsung mobile from the cafe will be provided free 6 GB data till December 14, informed the press statement issued by the company.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4726',
			'image' => '20161209112307_samsung cafe.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '4895',
			'article_category_id' => '1',
			'title' => 'Nepal Investment Bags 'Bank of the Year' Award',
			'sub_title' => '',
			'summary' => 'December 9: Nepal Investment Bank has bagged 'Bank of the Year 2016' award. London Based magazine 'The Banker' published by 'The Financial Times London honoured the bank with the award.',
			'content' => '<p style="text-align: justify;">December 9: Nepal Investment Bank has bagged &#39;Bank of the Year 2016&#39; award. London Based magazine &#39;The Banker&#39; published by &#39;The Financial Times London honoured the bank with the award.</p>

<p style="text-align: justify;">Prithwi Bahadur Pande, Chairman and Jyoti Pandey, CEO of the bank received the award amid a program organised in London. With the award, the bank has bagged the award for fifth time. Presently, the bank is providing its services through its network of 48 branches and 83 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-12-09',
			'modified' => '2016-12-09',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4725',
			'image' => '20161209105759_nibl.jpg',
			'article_date' => '2016-12-09 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	)
)
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