Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
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			'id' => '4682',
			'article_category_id' => '1',
			'title' => 'Bhandari Re-appointed as NCHL Chairman',
			'sub_title' => '',
			'summary' => 'November 4: Rajan Singh Bhandari has been selected as the Chairman of the board of Nepal Clearing House (NCHL).  The board meeting held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) an',
			'content' => '<p style="text-align:justify">November 4: Rajan Singh Bhandari has been re-appointed as Chairman of the board of Nepal Clearing House Limited (NCHL).&nbsp; The board meeting of NCHL held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) and Jyoti Prakash Pandey (Nepal Investment Bank) from the commercial banks group in the post of directors. Likewise, Janak Bahadur Adhikari (Executive Director of NRB), Krishna Lamichhane (Kailash Bikash Bank), Saroj Kaji Tuladhar (Goodwill Finanace) and Rabindra Bahadur Malla (Smart Choice Technology) are the other directors of NCHL. &nbsp;&nbsp;</p>
',
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			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4512',
			'image' => '20161104025013_bhandari.jpg',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4681',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Open Golf Tournament',
			'sub_title' => '',
			'summary' => 'November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.',
			'content' => '<p style="text-align: justify;">November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.</p>

<p style="text-align: justify;">According to the organizer, the tournament will have winner, first-runner up, ladies winner, ladies first-runner up, senior citizen winner, best gross, longest dive, closest to the pin and most birdies.&nbsp;</p>
',
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			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4511',
			'image' => '20161104023729_laxmi bank.jpg',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4680',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Special Business Class Offer',
			'sub_title' => '',
			'summary' => 'November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of 'two seats, one great offer'. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.',
			'content' => '<p>November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of &#39;two seats, one great offer&#39;. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.<br />
&nbsp;</p>
',
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			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4510',
			'image' => '20161104022752_qatar airways.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '4679',
			'article_category_id' => '1',
			'title' => 'Import of Diamond Increases Dominating Gold and Silver',
			'sub_title' => '',
			'summary' => 'November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department.  According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.',
			'content' => '<p style="text-align:justify">November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department. &nbsp;According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.</p>

<p style="text-align:justify"><br />
However, the government officials cited the decrease in import of gold and silver to the control of illegal transaction and not the contraction of the market. &ldquo;The import of gold and silver has declined due to Nepal Rastra Bank (NRB) provision of not allowing Nepali passengers to bring raw gold while returning from abroad,&rdquo; says Shishir Kumar Dhungana, General Director of DoC. He added that NRB&#39;s tighten policy, control in smuggling and surveillance of Department of Revenue Investigation has caused the decline in the import on gold and silver.</p>

<p style="text-align:justify"><br />
In the first quarter of FY 2016/17, the import of gold and silver has been dwindled by 27.48 percent and 45.67 percent respectively. Meanwhile the statistics reveals that the import of diamond has increased by 13.21 percent in the same period. Due to the decrease in import of gold and silver, the major consumed precious metals, in the Nepali market, the whole precious metals and stones import has decreased by 34.25 percent in the first three months of the current FY.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, the total amount of gold import which was Rs 5.64&nbsp;billion in the first quarter of the last FY has decreased to Rs 4.9 billion in the current FY. Likewise, the total amount of silver import of Rs 3.6 billion in the first three months of the last FY has decreased to Rs 1.54 billion in the same period of current FY. However, on the same period, the import of diamond has increased from Rs 190 million to Rs 215.1&nbsp;million.&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '4509',
			'image' => '20161104020347_gold and silver.JPG',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4678',
			'article_category_id' => '1',
			'title' => 'Sangrila Development Bank Celebrates 12th Anniversary',
			'sub_title' => '',
			'summary' => 'November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13th year. On the occasion, the bank organised a blood donation program with a slogan 'Raktadaan-Jeevandaan'. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected ',
			'content' => '<p>November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13<sup>th</sup> year. On the occasion, the bank organised a blood donation program with a slogan &#39;Raktadaan-Jeevandaan&#39;. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected from the blood donation programs organised in the premises of central office located at Baluwatar along with other regional offices at Nepalgunj and Pokhara. Presently, the bank is providing its banking services through its network of 31 branches, 6 microfinance units and 12 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4508',
			'image' => '20161104011229_sangrila.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '4677',
			'article_category_id' => '1',
			'title' => 'Ncell Contributes Rs 1.15 billion to Rural Telecommunication Fund',
			'sub_title' => '',
			'summary' => 'November 3: Ncell, the first private sector's mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government's regulation, Ncell contributed 2 percent of its total income to the Fund.',
			'content' => '<p style="text-align:justify">November 3: Ncell, the first private sector&#39;s mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government&#39;s regulation, Ncell contributed 2 percent of its total income to the Fund.</p>

<p style="text-align:justify">According to the Nepal Telecommunication Authority (NTA), Nell deposited the highest amount to the Fund in the last FY followed by Nepal Telecom. Nepal Telecom has granted Rs 780 million to the Fund. Among the internet service providers, Subisu has deposited the highest amount of Rs 17.6 million. Ncell has been contributing the highest amount to the fund since last 3-4 years as the top mobile service provider of the country.</p>

<p style="text-align:justify">Based on the amount contributed by Ncell to the fund, Ncell earned Rs 57 billion in the last FY. Similarly, NT earned Rs 39 billion in the last FY. According to the NTA employees, the actual income of the companies will be known after the announcement of their auditor&#39;s report by mid-December.</p>

<p style="text-align:justify">As per the sub-section (4) of section (30) of Telecommunication Act, 2053, NTA will form a fund in order to develop, expand and operation of telecommunication services in rural areas and licensed companies will have to deposit 2 percent of total income earned annually to the fund. The amount accumulated in the fund will be utilised for the development, expansion and operation of telecommunication services through the service providers in the rural areas under the synchronisation of the telecommunication policy of the government.</p>

<p style="text-align:justify">Based on the amount deposited by Ncell, Nepal Telecom and other internet service providers to the fund, the annual income of the telecommunication sector of the country has passed out Rs 100 billion. However, nearly 30-40 percent income of the sector is contributed by the phone-calls done from foreign countries.</p>

<p style="text-align:justify">The telecommunication service providers have contributed more than Rs 2.25 billion to the fund in the last FY. The government has been collected billions of revenue from the sector every year. Due to which, Ncell and NT has become the highest taxpayers of the country. Ncell has topped the tax payers list for the last 4 years.&nbsp;</p>
',
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			'modified' => '2016-11-03',
			'keywords' => '',
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			'sortorder' => '4507',
			'image' => '20161103044949_ncell.JPG',
			'article_date' => '2016-11-03 00:00:00',
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			'id' => '4676',
			'article_category_id' => '1',
			'title' => '20 Hydel Projects Granted Power Generation License',
			'sub_title' => '',
			'summary' => 'November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.',
			'content' => '<p style="text-align: justify;">November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.</p>

<p style="text-align: justify;">Among those projects, two projects were granted license in the two months period of mid-April/mid-June whereas in mid-June/mid-July, three projects were provided license. Similarly, the government distributed power generation license to the six projects in mid-July/mid-August. Likewise, the government has issued license for three projects in mid-August/mid-September and mid-September/mid-October each whereas only one project got power generation license till November 3. The government had distributed power generation license to only 17 projects in the same period of last year. &nbsp;</p>

<p style="text-align: justify;">Furthermore, the number of projects receiving production survey license within the seven months of this year has reached 22.</p>

<p style="text-align: justify;">In a contrast, the government has not issued single Survey License for Transmission or Transmission Construction licenses in these seven months. According to stakeholders, the difference in distribution of power generation license and transmission license may create various problems in near future. For that matter, co-ordination between power development department which gives power generation permit and NEA which works as transmitter is essential.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4506',
			'image' => '20161103024555_nea.jpg',
			'article_date' => '2016-11-03 00:00:00',
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		'Article' => array(
			'id' => '4675',
			'article_category_id' => '1',
			'title' => 'PPA Signed for 8MW Upper Naugarh Gad Hydropower Project',
			'sub_title' => '',
			'summary' => 'November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.',
			'content' => '<p>November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.</p>

<p>Issuing a press statement, the company informed that the company has already constructed 8.5 MW Hydropower Project in the same river last year. The company had constructed the project in 17 months.</p>

<p>According to the statement, the company is planning to construct the new project of 8 MW within next 15-17 months. The company expects that the power generated from the project will be connected to the NEA Balanch Substation at 132 KV side which is only 7 Km away from the company&#39;s proposed powerhouse. Moreover, the company assured that the return to the shareholders will increase in future as it is also developing other projects including numerous solar projects. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4505',
			'image' => '20161103010403_api.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
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		'Article' => array(
			'id' => '4674',
			'article_category_id' => '1',
			'title' => 'Agni Incorporated Launches Mahindra 'Uday' Scheme ',
			'sub_title' => '',
			'summary' => 'November 3: Agni Incorporated, the authorised distributor of Mahindra & Mahindra Ltd, has launched "Mahindra Uday" scheme in a bid to strengthen the relation between the company and its 'pick-up customers'. Under the scheme, the service seekers will be provided special servicing services along with various other services.  ',
			'content' => '<p style="text-align:justify">November 3: Agni Incorporated, the authorised distributor of Mahindra &amp; Mahindra Ltd, has launched &quot;Mahindra Uday&quot; scheme in a bid to strengthen the relation between the company and its &#39;pick-up customers&#39;. Under the scheme, the service seekers will be provided special servicing services along with various other services. &nbsp;</p>

<p style="text-align:justify"><br />
&quot;Under the scheme, participant customer will be provided a membership card based on which the customer can receive various facilities from the dealers of Agni,&quot; said the company. The company informed that the scheme will mainly provide free accidental life insurance upto Rs 200,000, scholarships of Rs 25,000 to 25 brilliant students and discounts on spare parts and lubricants.&nbsp;</p>

<p style="text-align:justify"><br />
Moreover, the company also launched Big Bolero Pick-up having big cargo box, big payload, big power and big comfortable cabin features in the Nepali market.&nbsp;</p>

<p>&nbsp;</p>
',
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			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4504',
			'image' => '20161103120420_mahindra.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '4673',
			'article_category_id' => '1',
			'title' => 'ADB Approves $120 million to Improve Nepal’s Education Standards',
			'sub_title' => '',
			'summary' => 'November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.',
			'content' => '<p style="text-align: justify;">November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.</p>

<p style="text-align: justify;">Issuing the press release, the bank informed that the loan is part of a multi-donor program to provide $6.5 billion to the School Sector Development Plan, the government&rsquo;s main education initiative for 2017-2023, that includes setting up of 200 model schools with disaster risk resilient infrastructure, improved education facilities, a full complement of teachers and quality improvements to enhance student learning.</p>

<p style="text-align: justify;">&ldquo;Continued investment in education, particularly secondary education, is critical for Nepal to achieve its goal of becoming an inclusive and prosperous middle-income country by 2030,&rdquo; said Sungsup Ra, Director, Human and Social Development Division in ADB&rsquo;s South Asia Regional Department. &ldquo;The project will support government efforts to increase the number of secondary school graduates, who will earn higher wages than non-graduates, and boost the efficiency of the country&rsquo;s education system.&rdquo;</p>

<p style="text-align: justify;">According to the bank, although enrollment in basic education is high, few students, especially among marginalized groups such as Dalits and poor girls, progress to secondary education in Nepal. The quality of learning is hampered by a lack of teachers and scarce opportunities for teachers&rsquo; professional development. Average achievement scores are particularly low in key subjects like math and science, and only 47% of students passed the grade 10 examinations in 2015.</p>

<p style="text-align: justify;">As part of the School Sector Development Plan, the ADB loan will boost quality education by, for example, introducing and expanding ICT in classrooms, boosting teachers&rsquo; professional development, and promoting activity-based pedagogy for math, science, and English. The model schools, meanwhile, will have a separate head teacher, a full complement of subject teachers, disaster risk-resilient infrastructure, water and sanitation facilities, a library, a science laboratory, ICT facilities, internet connectivity, and e-resources.</p>

<p style="text-align: justify;">&quot;The $6.5 billion program will benefit 6.3&nbsp;million students, 153,200 teachers, and more than 34,000 schools. It is envisaged that 4,500 schools will receive separate individual subject teachers for math, science, and English by 2021. Professional development courses will be provided to 13,500 subject teachers and activity-based math, science, and English kits for grades 6-8 will be made available in 3,000 schools. The model school program will be rolled out in 200 community schools, benefiting 40,000 students&mdash;half of which will be girls&mdash;with training for 2,000 teachers in new ICT and e-learning resources,&quot; reads the statement.</p>

<p style="text-align: justify;">The program will be carried out over the next 5 years under ADB&rsquo;s results-based lending modality, which will disburse funds based on the achievement of yearly results or performance targets.</p>

<p style="text-align: justify;">&ldquo;We expect the government to establish a sound institutional setup to strongly drive the reform and change processes envisaged in the SSDP,&rdquo; said Mr. Ra.</p>

<p style="text-align: justify;">ADB will collaborate with 8 other development partners and the government of Nepal in a sector-wide approach, using a common results framework and disbursement-linked indicator matrix. This will ensure harmonization and joint action for greater impact.</p>

<p style="text-align: justify;">ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members &ndash; 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.</p>
',
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			'sortorder' => '4503',
			'image' => '20161103113420_adb.jpg',
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		'Article' => array(
			'id' => '4672',
			'article_category_id' => '1',
			'title' => 'Prabhu Insurance to Distribute 17% Bonus Share',
			'sub_title' => '',
			'summary' => 'November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million. ',
			'content' => '<p style="text-align: justify;">November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million.&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '4502',
			'image' => '20161103111730_prabhu insurance.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '4671',
			'article_category_id' => '1',
			'title' => 'NB Insurance Branches at Three Locations',
			'sub_title' => '',
			'summary' => 'November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.',
			'content' => '<p style="text-align: justify;">November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.</p>

<p style="text-align: justify;">&quot;NB insurance, establishing itself as a prominent insurance company, will expand its branches all across the country so that to provide easy, fast and reliable insurance services,&quot; said Ambika Prasad Poudel, BOD Director of the company. With the additions, the company will be providing its services through 17 branches, 5 contact offices and 11 service counters. Poudel informed of receiving Rs 45.3 million as premium from auctioning unsold right shares. &quot;After issuing the 10:8 right shares, the paid-up capital of the company has reached Rs 270 million. The company will soon expand its branch network all across the country to provide convenient services to general public,&quot; he added.&nbsp;</p>
',
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			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4501',
			'image' => '20161103110416_nb insurnace.jpg',
			'article_date' => '2016-11-03 00:00:00',
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		'Article' => array(
			'id' => '4670',
			'article_category_id' => '1',
			'title' => 'SEBON’s Stand Hinders Acquisition of Reliable Devt Bank',
			'sub_title' => '',
			'summary' => 'November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank's initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors' decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).',
			'content' => '<p style="text-align: justify;">November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank&#39;s initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors&#39; decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).</p>

<p style="text-align: justify;"><br />
Global IME has indicated to withdraw the acquisition decision as the earlier decided swap ratio of the banks will be disordered. Upon the happening, the expectations of the Reliable Development Bank of becoming a commercial bank will not be meet. Similarly, the investors of Reliable Development bank are also favoring the acquisition as Global IME is one of the biggest commercial banks of Nepal which would yield high return on shares. One of the shareholders of Reliable said, &ldquo;If Reliable turns a commercial bank, the shareholders will benefit in the future. The high level of management has assured the shareholders of the acquisition.&rdquo; According to the sources of the bank, it is not necessary to issue right shares in 1:1 ratio approved by general meeting.&nbsp;</p>

<p style="text-align: justify;"><br />
The board has stressed the development bank to issue shares endorsed by general meeting not only for confidence of shareholders but also to follow current law. Niraj Giri, Acting Director and Spokesperson of the board said, &ldquo;All the companies are equal in front of the law. It is good that a company is doing well but the decision made by general meeting should not be changed as per the regulation.&rsquo; He said that the precedent could make negative impact in the share market thus the relevant party must make decision practically.&nbsp;</p>

<p style="text-align: justify;"><br />
Many banks and financial institutions have opted to use alternatives such as merger, acquisition and issuance of right shares in order to meet minimum paid-up capital as per the directive of Nepal Rastra Bank by the fiscal year 2073/74. Therefore, Reliable had made plan of issuing right shares till it gets suitable partner for merger and acquisition.&nbsp;</p>

<p style="text-align: justify;"><br />
However, Global IME came forward to acquire the bank for which both companies informed of agreement made between them to Nepal Stock Exchange on September 28, 2016. As per the agreement, the development bank will distribute accumulated profit of Rs 270.90 million to its current shareholders till June 2016. In case of failure of the acquisition, the development bank will have to issue right shares along with the lost opportunity of becoming a commercial bank.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-02',
			'modified' => '2016-11-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4500',
			'image' => '20161102010726_reliable.jpg',
			'article_date' => '2016-11-02 00:00:00',
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			'id' => '4669',
			'article_category_id' => '1',
			'title' => 'Int'l trade fair in Dehradun to target holidaymakers',
			'sub_title' => '',
			'summary' => 'November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, ',
			'content' => '<p>November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, the capital of India&#39;s Uttarakhand state, with an aim to promote ecotourism.</p>

<p>The Chamber is holding a first ever international trade fair to promote its art, culture and tourism destinations. The event is expected to attract Indian tourists as well as tourists from other countries to Nepal.</p>

<p>The five &ndash; day trade fair to start in the second week of December will showcase handicraft materials, herbs, readymade garments, Pashmina and information related to the tourism destinations through more than 40 stalls.</p>
',
			'published' => true,
			'created' => '2016-11-01',
			'modified' => '2016-11-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4499',
			'image' => null,
			'article_date' => '2016-11-01 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '4668',
			'article_category_id' => '1',
			'title' => 'Rajesh Hamal Nepal Brand Ambassador for Indica Easy',
			'sub_title' => '',
			'summary' => 'October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand 'Indica Easy Hair Colour'. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.',
			'content' => '<p style="text-align:justify">October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand &#39;Indica Easy Hair Colour&#39;. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.</p>

<p style="text-align:justify">&ldquo;We are proud that we have Rajesh Hamal who fits into all the brand values seamlessly. He has won the hearts of Nepalese audience through his unique own style of melodrama,&rdquo; commented one of the company personnel.</p>

<p style="text-align:justify">Similarly, speaking at the program, Rajesh Hamal expressed his happiness to be associated with such innovative product and brand. &ldquo;I have myself tried the product and found it to be extremely satisfactory. I believe that Nepalese consumers will finally see some world class product being marketed in our country.&rdquo;</p>

<p style="text-align:justify">CavinKare is diversified fast moving consumer goods (FMCG) with its major brands in personal care, dairy, snacks, foods and beverages.&nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-28',
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			'description' => '',
			'sortorder' => '4498',
			'image' => '20161028045238_Indica-Easy-Hair-Colour_Dark-brown.jpg',
			'article_date' => '2016-10-28 00:00:00',
			'homepage' => false,
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View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
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(
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		'Article' => array(
			'id' => '4682',
			'article_category_id' => '1',
			'title' => 'Bhandari Re-appointed as NCHL Chairman',
			'sub_title' => '',
			'summary' => 'November 4: Rajan Singh Bhandari has been selected as the Chairman of the board of Nepal Clearing House (NCHL).  The board meeting held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) an',
			'content' => '<p style="text-align:justify">November 4: Rajan Singh Bhandari has been re-appointed as Chairman of the board of Nepal Clearing House Limited (NCHL).&nbsp; The board meeting of NCHL held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) and Jyoti Prakash Pandey (Nepal Investment Bank) from the commercial banks group in the post of directors. Likewise, Janak Bahadur Adhikari (Executive Director of NRB), Krishna Lamichhane (Kailash Bikash Bank), Saroj Kaji Tuladhar (Goodwill Finanace) and Rabindra Bahadur Malla (Smart Choice Technology) are the other directors of NCHL. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4512',
			'image' => '20161104025013_bhandari.jpg',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4681',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Open Golf Tournament',
			'sub_title' => '',
			'summary' => 'November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.',
			'content' => '<p style="text-align: justify;">November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.</p>

<p style="text-align: justify;">According to the organizer, the tournament will have winner, first-runner up, ladies winner, ladies first-runner up, senior citizen winner, best gross, longest dive, closest to the pin and most birdies.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4511',
			'image' => '20161104023729_laxmi bank.jpg',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4680',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Special Business Class Offer',
			'sub_title' => '',
			'summary' => 'November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of 'two seats, one great offer'. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.',
			'content' => '<p>November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of &#39;two seats, one great offer&#39;. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.<br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4510',
			'image' => '20161104022752_qatar airways.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '4679',
			'article_category_id' => '1',
			'title' => 'Import of Diamond Increases Dominating Gold and Silver',
			'sub_title' => '',
			'summary' => 'November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department.  According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.',
			'content' => '<p style="text-align:justify">November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department. &nbsp;According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.</p>

<p style="text-align:justify"><br />
However, the government officials cited the decrease in import of gold and silver to the control of illegal transaction and not the contraction of the market. &ldquo;The import of gold and silver has declined due to Nepal Rastra Bank (NRB) provision of not allowing Nepali passengers to bring raw gold while returning from abroad,&rdquo; says Shishir Kumar Dhungana, General Director of DoC. He added that NRB&#39;s tighten policy, control in smuggling and surveillance of Department of Revenue Investigation has caused the decline in the import on gold and silver.</p>

<p style="text-align:justify"><br />
In the first quarter of FY 2016/17, the import of gold and silver has been dwindled by 27.48 percent and 45.67 percent respectively. Meanwhile the statistics reveals that the import of diamond has increased by 13.21 percent in the same period. Due to the decrease in import of gold and silver, the major consumed precious metals, in the Nepali market, the whole precious metals and stones import has decreased by 34.25 percent in the first three months of the current FY.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, the total amount of gold import which was Rs 5.64&nbsp;billion in the first quarter of the last FY has decreased to Rs 4.9 billion in the current FY. Likewise, the total amount of silver import of Rs 3.6 billion in the first three months of the last FY has decreased to Rs 1.54 billion in the same period of current FY. However, on the same period, the import of diamond has increased from Rs 190 million to Rs 215.1&nbsp;million.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4509',
			'image' => '20161104020347_gold and silver.JPG',
			'article_date' => '2016-11-04 00:00:00',
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			'id' => '4678',
			'article_category_id' => '1',
			'title' => 'Sangrila Development Bank Celebrates 12th Anniversary',
			'sub_title' => '',
			'summary' => 'November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13th year. On the occasion, the bank organised a blood donation program with a slogan 'Raktadaan-Jeevandaan'. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected ',
			'content' => '<p>November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13<sup>th</sup> year. On the occasion, the bank organised a blood donation program with a slogan &#39;Raktadaan-Jeevandaan&#39;. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected from the blood donation programs organised in the premises of central office located at Baluwatar along with other regional offices at Nepalgunj and Pokhara. Presently, the bank is providing its banking services through its network of 31 branches, 6 microfinance units and 12 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4508',
			'image' => '20161104011229_sangrila.jpg',
			'article_date' => '2016-11-04 00:00:00',
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		'Article' => array(
			'id' => '4677',
			'article_category_id' => '1',
			'title' => 'Ncell Contributes Rs 1.15 billion to Rural Telecommunication Fund',
			'sub_title' => '',
			'summary' => 'November 3: Ncell, the first private sector's mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government's regulation, Ncell contributed 2 percent of its total income to the Fund.',
			'content' => '<p style="text-align:justify">November 3: Ncell, the first private sector&#39;s mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government&#39;s regulation, Ncell contributed 2 percent of its total income to the Fund.</p>

<p style="text-align:justify">According to the Nepal Telecommunication Authority (NTA), Nell deposited the highest amount to the Fund in the last FY followed by Nepal Telecom. Nepal Telecom has granted Rs 780 million to the Fund. Among the internet service providers, Subisu has deposited the highest amount of Rs 17.6 million. Ncell has been contributing the highest amount to the fund since last 3-4 years as the top mobile service provider of the country.</p>

<p style="text-align:justify">Based on the amount contributed by Ncell to the fund, Ncell earned Rs 57 billion in the last FY. Similarly, NT earned Rs 39 billion in the last FY. According to the NTA employees, the actual income of the companies will be known after the announcement of their auditor&#39;s report by mid-December.</p>

<p style="text-align:justify">As per the sub-section (4) of section (30) of Telecommunication Act, 2053, NTA will form a fund in order to develop, expand and operation of telecommunication services in rural areas and licensed companies will have to deposit 2 percent of total income earned annually to the fund. The amount accumulated in the fund will be utilised for the development, expansion and operation of telecommunication services through the service providers in the rural areas under the synchronisation of the telecommunication policy of the government.</p>

<p style="text-align:justify">Based on the amount deposited by Ncell, Nepal Telecom and other internet service providers to the fund, the annual income of the telecommunication sector of the country has passed out Rs 100 billion. However, nearly 30-40 percent income of the sector is contributed by the phone-calls done from foreign countries.</p>

<p style="text-align:justify">The telecommunication service providers have contributed more than Rs 2.25 billion to the fund in the last FY. The government has been collected billions of revenue from the sector every year. Due to which, Ncell and NT has become the highest taxpayers of the country. Ncell has topped the tax payers list for the last 4 years.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4507',
			'image' => '20161103044949_ncell.JPG',
			'article_date' => '2016-11-03 00:00:00',
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		'Article' => array(
			'id' => '4676',
			'article_category_id' => '1',
			'title' => '20 Hydel Projects Granted Power Generation License',
			'sub_title' => '',
			'summary' => 'November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.',
			'content' => '<p style="text-align: justify;">November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.</p>

<p style="text-align: justify;">Among those projects, two projects were granted license in the two months period of mid-April/mid-June whereas in mid-June/mid-July, three projects were provided license. Similarly, the government distributed power generation license to the six projects in mid-July/mid-August. Likewise, the government has issued license for three projects in mid-August/mid-September and mid-September/mid-October each whereas only one project got power generation license till November 3. The government had distributed power generation license to only 17 projects in the same period of last year. &nbsp;</p>

<p style="text-align: justify;">Furthermore, the number of projects receiving production survey license within the seven months of this year has reached 22.</p>

<p style="text-align: justify;">In a contrast, the government has not issued single Survey License for Transmission or Transmission Construction licenses in these seven months. According to stakeholders, the difference in distribution of power generation license and transmission license may create various problems in near future. For that matter, co-ordination between power development department which gives power generation permit and NEA which works as transmitter is essential.&nbsp;</p>
',
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			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4506',
			'image' => '20161103024555_nea.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '4675',
			'article_category_id' => '1',
			'title' => 'PPA Signed for 8MW Upper Naugarh Gad Hydropower Project',
			'sub_title' => '',
			'summary' => 'November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.',
			'content' => '<p>November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.</p>

<p>Issuing a press statement, the company informed that the company has already constructed 8.5 MW Hydropower Project in the same river last year. The company had constructed the project in 17 months.</p>

<p>According to the statement, the company is planning to construct the new project of 8 MW within next 15-17 months. The company expects that the power generated from the project will be connected to the NEA Balanch Substation at 132 KV side which is only 7 Km away from the company&#39;s proposed powerhouse. Moreover, the company assured that the return to the shareholders will increase in future as it is also developing other projects including numerous solar projects. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4505',
			'image' => '20161103010403_api.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '4674',
			'article_category_id' => '1',
			'title' => 'Agni Incorporated Launches Mahindra 'Uday' Scheme ',
			'sub_title' => '',
			'summary' => 'November 3: Agni Incorporated, the authorised distributor of Mahindra & Mahindra Ltd, has launched "Mahindra Uday" scheme in a bid to strengthen the relation between the company and its 'pick-up customers'. Under the scheme, the service seekers will be provided special servicing services along with various other services.  ',
			'content' => '<p style="text-align:justify">November 3: Agni Incorporated, the authorised distributor of Mahindra &amp; Mahindra Ltd, has launched &quot;Mahindra Uday&quot; scheme in a bid to strengthen the relation between the company and its &#39;pick-up customers&#39;. Under the scheme, the service seekers will be provided special servicing services along with various other services. &nbsp;</p>

<p style="text-align:justify"><br />
&quot;Under the scheme, participant customer will be provided a membership card based on which the customer can receive various facilities from the dealers of Agni,&quot; said the company. The company informed that the scheme will mainly provide free accidental life insurance upto Rs 200,000, scholarships of Rs 25,000 to 25 brilliant students and discounts on spare parts and lubricants.&nbsp;</p>

<p style="text-align:justify"><br />
Moreover, the company also launched Big Bolero Pick-up having big cargo box, big payload, big power and big comfortable cabin features in the Nepali market.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4504',
			'image' => '20161103120420_mahindra.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '4673',
			'article_category_id' => '1',
			'title' => 'ADB Approves $120 million to Improve Nepal’s Education Standards',
			'sub_title' => '',
			'summary' => 'November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.',
			'content' => '<p style="text-align: justify;">November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.</p>

<p style="text-align: justify;">Issuing the press release, the bank informed that the loan is part of a multi-donor program to provide $6.5 billion to the School Sector Development Plan, the government&rsquo;s main education initiative for 2017-2023, that includes setting up of 200 model schools with disaster risk resilient infrastructure, improved education facilities, a full complement of teachers and quality improvements to enhance student learning.</p>

<p style="text-align: justify;">&ldquo;Continued investment in education, particularly secondary education, is critical for Nepal to achieve its goal of becoming an inclusive and prosperous middle-income country by 2030,&rdquo; said Sungsup Ra, Director, Human and Social Development Division in ADB&rsquo;s South Asia Regional Department. &ldquo;The project will support government efforts to increase the number of secondary school graduates, who will earn higher wages than non-graduates, and boost the efficiency of the country&rsquo;s education system.&rdquo;</p>

<p style="text-align: justify;">According to the bank, although enrollment in basic education is high, few students, especially among marginalized groups such as Dalits and poor girls, progress to secondary education in Nepal. The quality of learning is hampered by a lack of teachers and scarce opportunities for teachers&rsquo; professional development. Average achievement scores are particularly low in key subjects like math and science, and only 47% of students passed the grade 10 examinations in 2015.</p>

<p style="text-align: justify;">As part of the School Sector Development Plan, the ADB loan will boost quality education by, for example, introducing and expanding ICT in classrooms, boosting teachers&rsquo; professional development, and promoting activity-based pedagogy for math, science, and English. The model schools, meanwhile, will have a separate head teacher, a full complement of subject teachers, disaster risk-resilient infrastructure, water and sanitation facilities, a library, a science laboratory, ICT facilities, internet connectivity, and e-resources.</p>

<p style="text-align: justify;">&quot;The $6.5 billion program will benefit 6.3&nbsp;million students, 153,200 teachers, and more than 34,000 schools. It is envisaged that 4,500 schools will receive separate individual subject teachers for math, science, and English by 2021. Professional development courses will be provided to 13,500 subject teachers and activity-based math, science, and English kits for grades 6-8 will be made available in 3,000 schools. The model school program will be rolled out in 200 community schools, benefiting 40,000 students&mdash;half of which will be girls&mdash;with training for 2,000 teachers in new ICT and e-learning resources,&quot; reads the statement.</p>

<p style="text-align: justify;">The program will be carried out over the next 5 years under ADB&rsquo;s results-based lending modality, which will disburse funds based on the achievement of yearly results or performance targets.</p>

<p style="text-align: justify;">&ldquo;We expect the government to establish a sound institutional setup to strongly drive the reform and change processes envisaged in the SSDP,&rdquo; said Mr. Ra.</p>

<p style="text-align: justify;">ADB will collaborate with 8 other development partners and the government of Nepal in a sector-wide approach, using a common results framework and disbursement-linked indicator matrix. This will ensure harmonization and joint action for greater impact.</p>

<p style="text-align: justify;">ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members &ndash; 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.</p>
',
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			'keywords' => '',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4672',
			'article_category_id' => '1',
			'title' => 'Prabhu Insurance to Distribute 17% Bonus Share',
			'sub_title' => '',
			'summary' => 'November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million. ',
			'content' => '<p style="text-align: justify;">November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4502',
			'image' => '20161103111730_prabhu insurance.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4671',
			'article_category_id' => '1',
			'title' => 'NB Insurance Branches at Three Locations',
			'sub_title' => '',
			'summary' => 'November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.',
			'content' => '<p style="text-align: justify;">November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.</p>

<p style="text-align: justify;">&quot;NB insurance, establishing itself as a prominent insurance company, will expand its branches all across the country so that to provide easy, fast and reliable insurance services,&quot; said Ambika Prasad Poudel, BOD Director of the company. With the additions, the company will be providing its services through 17 branches, 5 contact offices and 11 service counters. Poudel informed of receiving Rs 45.3 million as premium from auctioning unsold right shares. &quot;After issuing the 10:8 right shares, the paid-up capital of the company has reached Rs 270 million. The company will soon expand its branch network all across the country to provide convenient services to general public,&quot; he added.&nbsp;</p>
',
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			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4501',
			'image' => '20161103110416_nb insurnace.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '4670',
			'article_category_id' => '1',
			'title' => 'SEBON’s Stand Hinders Acquisition of Reliable Devt Bank',
			'sub_title' => '',
			'summary' => 'November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank's initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors' decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).',
			'content' => '<p style="text-align: justify;">November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank&#39;s initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors&#39; decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).</p>

<p style="text-align: justify;"><br />
Global IME has indicated to withdraw the acquisition decision as the earlier decided swap ratio of the banks will be disordered. Upon the happening, the expectations of the Reliable Development Bank of becoming a commercial bank will not be meet. Similarly, the investors of Reliable Development bank are also favoring the acquisition as Global IME is one of the biggest commercial banks of Nepal which would yield high return on shares. One of the shareholders of Reliable said, &ldquo;If Reliable turns a commercial bank, the shareholders will benefit in the future. The high level of management has assured the shareholders of the acquisition.&rdquo; According to the sources of the bank, it is not necessary to issue right shares in 1:1 ratio approved by general meeting.&nbsp;</p>

<p style="text-align: justify;"><br />
The board has stressed the development bank to issue shares endorsed by general meeting not only for confidence of shareholders but also to follow current law. Niraj Giri, Acting Director and Spokesperson of the board said, &ldquo;All the companies are equal in front of the law. It is good that a company is doing well but the decision made by general meeting should not be changed as per the regulation.&rsquo; He said that the precedent could make negative impact in the share market thus the relevant party must make decision practically.&nbsp;</p>

<p style="text-align: justify;"><br />
Many banks and financial institutions have opted to use alternatives such as merger, acquisition and issuance of right shares in order to meet minimum paid-up capital as per the directive of Nepal Rastra Bank by the fiscal year 2073/74. Therefore, Reliable had made plan of issuing right shares till it gets suitable partner for merger and acquisition.&nbsp;</p>

<p style="text-align: justify;"><br />
However, Global IME came forward to acquire the bank for which both companies informed of agreement made between them to Nepal Stock Exchange on September 28, 2016. As per the agreement, the development bank will distribute accumulated profit of Rs 270.90 million to its current shareholders till June 2016. In case of failure of the acquisition, the development bank will have to issue right shares along with the lost opportunity of becoming a commercial bank.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-02',
			'modified' => '2016-11-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4500',
			'image' => '20161102010726_reliable.jpg',
			'article_date' => '2016-11-02 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '4669',
			'article_category_id' => '1',
			'title' => 'Int'l trade fair in Dehradun to target holidaymakers',
			'sub_title' => '',
			'summary' => 'November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, ',
			'content' => '<p>November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, the capital of India&#39;s Uttarakhand state, with an aim to promote ecotourism.</p>

<p>The Chamber is holding a first ever international trade fair to promote its art, culture and tourism destinations. The event is expected to attract Indian tourists as well as tourists from other countries to Nepal.</p>

<p>The five &ndash; day trade fair to start in the second week of December will showcase handicraft materials, herbs, readymade garments, Pashmina and information related to the tourism destinations through more than 40 stalls.</p>
',
			'published' => true,
			'created' => '2016-11-01',
			'modified' => '2016-11-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4499',
			'image' => null,
			'article_date' => '2016-11-01 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 14 => array(
		'Article' => array(
			'id' => '4668',
			'article_category_id' => '1',
			'title' => 'Rajesh Hamal Nepal Brand Ambassador for Indica Easy',
			'sub_title' => '',
			'summary' => 'October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand 'Indica Easy Hair Colour'. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.',
			'content' => '<p style="text-align:justify">October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand &#39;Indica Easy Hair Colour&#39;. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.</p>

<p style="text-align:justify">&ldquo;We are proud that we have Rajesh Hamal who fits into all the brand values seamlessly. He has won the hearts of Nepalese audience through his unique own style of melodrama,&rdquo; commented one of the company personnel.</p>

<p style="text-align:justify">Similarly, speaking at the program, Rajesh Hamal expressed his happiness to be associated with such innovative product and brand. &ldquo;I have myself tried the product and found it to be extremely satisfactory. I believe that Nepalese consumers will finally see some world class product being marketed in our country.&rdquo;</p>

<p style="text-align:justify">CavinKare is diversified fast moving consumer goods (FMCG) with its major brands in personal care, dairy, snacks, foods and beverages.&nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-28',
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			'description' => '',
			'sortorder' => '4498',
			'image' => '20161028045238_Indica-Easy-Hair-Colour_Dark-brown.jpg',
			'article_date' => '2016-10-28 00:00:00',
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
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		'Article' => array(
			'id' => '4682',
			'article_category_id' => '1',
			'title' => 'Bhandari Re-appointed as NCHL Chairman',
			'sub_title' => '',
			'summary' => 'November 4: Rajan Singh Bhandari has been selected as the Chairman of the board of Nepal Clearing House (NCHL).  The board meeting held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) an',
			'content' => '<p style="text-align:justify">November 4: Rajan Singh Bhandari has been re-appointed as Chairman of the board of Nepal Clearing House Limited (NCHL).&nbsp; The board meeting of NCHL held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) and Jyoti Prakash Pandey (Nepal Investment Bank) from the commercial banks group in the post of directors. Likewise, Janak Bahadur Adhikari (Executive Director of NRB), Krishna Lamichhane (Kailash Bikash Bank), Saroj Kaji Tuladhar (Goodwill Finanace) and Rabindra Bahadur Malla (Smart Choice Technology) are the other directors of NCHL. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4512',
			'image' => '20161104025013_bhandari.jpg',
			'article_date' => '2016-11-04 00:00:00',
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		'Article' => array(
			'id' => '4681',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Open Golf Tournament',
			'sub_title' => '',
			'summary' => 'November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.',
			'content' => '<p style="text-align: justify;">November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.</p>

<p style="text-align: justify;">According to the organizer, the tournament will have winner, first-runner up, ladies winner, ladies first-runner up, senior citizen winner, best gross, longest dive, closest to the pin and most birdies.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4511',
			'image' => '20161104023729_laxmi bank.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '4680',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Special Business Class Offer',
			'sub_title' => '',
			'summary' => 'November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of 'two seats, one great offer'. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.',
			'content' => '<p>November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of &#39;two seats, one great offer&#39;. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.<br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4510',
			'image' => '20161104022752_qatar airways.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '4679',
			'article_category_id' => '1',
			'title' => 'Import of Diamond Increases Dominating Gold and Silver',
			'sub_title' => '',
			'summary' => 'November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department.  According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.',
			'content' => '<p style="text-align:justify">November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department. &nbsp;According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.</p>

<p style="text-align:justify"><br />
However, the government officials cited the decrease in import of gold and silver to the control of illegal transaction and not the contraction of the market. &ldquo;The import of gold and silver has declined due to Nepal Rastra Bank (NRB) provision of not allowing Nepali passengers to bring raw gold while returning from abroad,&rdquo; says Shishir Kumar Dhungana, General Director of DoC. He added that NRB&#39;s tighten policy, control in smuggling and surveillance of Department of Revenue Investigation has caused the decline in the import on gold and silver.</p>

<p style="text-align:justify"><br />
In the first quarter of FY 2016/17, the import of gold and silver has been dwindled by 27.48 percent and 45.67 percent respectively. Meanwhile the statistics reveals that the import of diamond has increased by 13.21 percent in the same period. Due to the decrease in import of gold and silver, the major consumed precious metals, in the Nepali market, the whole precious metals and stones import has decreased by 34.25 percent in the first three months of the current FY.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, the total amount of gold import which was Rs 5.64&nbsp;billion in the first quarter of the last FY has decreased to Rs 4.9 billion in the current FY. Likewise, the total amount of silver import of Rs 3.6 billion in the first three months of the last FY has decreased to Rs 1.54 billion in the same period of current FY. However, on the same period, the import of diamond has increased from Rs 190 million to Rs 215.1&nbsp;million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4509',
			'image' => '20161104020347_gold and silver.JPG',
			'article_date' => '2016-11-04 00:00:00',
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	(int) 4 => array(
		'Article' => array(
			'id' => '4678',
			'article_category_id' => '1',
			'title' => 'Sangrila Development Bank Celebrates 12th Anniversary',
			'sub_title' => '',
			'summary' => 'November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13th year. On the occasion, the bank organised a blood donation program with a slogan 'Raktadaan-Jeevandaan'. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected ',
			'content' => '<p>November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13<sup>th</sup> year. On the occasion, the bank organised a blood donation program with a slogan &#39;Raktadaan-Jeevandaan&#39;. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected from the blood donation programs organised in the premises of central office located at Baluwatar along with other regional offices at Nepalgunj and Pokhara. Presently, the bank is providing its banking services through its network of 31 branches, 6 microfinance units and 12 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4508',
			'image' => '20161104011229_sangrila.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '4677',
			'article_category_id' => '1',
			'title' => 'Ncell Contributes Rs 1.15 billion to Rural Telecommunication Fund',
			'sub_title' => '',
			'summary' => 'November 3: Ncell, the first private sector's mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government's regulation, Ncell contributed 2 percent of its total income to the Fund.',
			'content' => '<p style="text-align:justify">November 3: Ncell, the first private sector&#39;s mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government&#39;s regulation, Ncell contributed 2 percent of its total income to the Fund.</p>

<p style="text-align:justify">According to the Nepal Telecommunication Authority (NTA), Nell deposited the highest amount to the Fund in the last FY followed by Nepal Telecom. Nepal Telecom has granted Rs 780 million to the Fund. Among the internet service providers, Subisu has deposited the highest amount of Rs 17.6 million. Ncell has been contributing the highest amount to the fund since last 3-4 years as the top mobile service provider of the country.</p>

<p style="text-align:justify">Based on the amount contributed by Ncell to the fund, Ncell earned Rs 57 billion in the last FY. Similarly, NT earned Rs 39 billion in the last FY. According to the NTA employees, the actual income of the companies will be known after the announcement of their auditor&#39;s report by mid-December.</p>

<p style="text-align:justify">As per the sub-section (4) of section (30) of Telecommunication Act, 2053, NTA will form a fund in order to develop, expand and operation of telecommunication services in rural areas and licensed companies will have to deposit 2 percent of total income earned annually to the fund. The amount accumulated in the fund will be utilised for the development, expansion and operation of telecommunication services through the service providers in the rural areas under the synchronisation of the telecommunication policy of the government.</p>

<p style="text-align:justify">Based on the amount deposited by Ncell, Nepal Telecom and other internet service providers to the fund, the annual income of the telecommunication sector of the country has passed out Rs 100 billion. However, nearly 30-40 percent income of the sector is contributed by the phone-calls done from foreign countries.</p>

<p style="text-align:justify">The telecommunication service providers have contributed more than Rs 2.25 billion to the fund in the last FY. The government has been collected billions of revenue from the sector every year. Due to which, Ncell and NT has become the highest taxpayers of the country. Ncell has topped the tax payers list for the last 4 years.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4507',
			'image' => '20161103044949_ncell.JPG',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '4676',
			'article_category_id' => '1',
			'title' => '20 Hydel Projects Granted Power Generation License',
			'sub_title' => '',
			'summary' => 'November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.',
			'content' => '<p style="text-align: justify;">November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.</p>

<p style="text-align: justify;">Among those projects, two projects were granted license in the two months period of mid-April/mid-June whereas in mid-June/mid-July, three projects were provided license. Similarly, the government distributed power generation license to the six projects in mid-July/mid-August. Likewise, the government has issued license for three projects in mid-August/mid-September and mid-September/mid-October each whereas only one project got power generation license till November 3. The government had distributed power generation license to only 17 projects in the same period of last year. &nbsp;</p>

<p style="text-align: justify;">Furthermore, the number of projects receiving production survey license within the seven months of this year has reached 22.</p>

<p style="text-align: justify;">In a contrast, the government has not issued single Survey License for Transmission or Transmission Construction licenses in these seven months. According to stakeholders, the difference in distribution of power generation license and transmission license may create various problems in near future. For that matter, co-ordination between power development department which gives power generation permit and NEA which works as transmitter is essential.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4506',
			'image' => '20161103024555_nea.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '4675',
			'article_category_id' => '1',
			'title' => 'PPA Signed for 8MW Upper Naugarh Gad Hydropower Project',
			'sub_title' => '',
			'summary' => 'November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.',
			'content' => '<p>November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.</p>

<p>Issuing a press statement, the company informed that the company has already constructed 8.5 MW Hydropower Project in the same river last year. The company had constructed the project in 17 months.</p>

<p>According to the statement, the company is planning to construct the new project of 8 MW within next 15-17 months. The company expects that the power generated from the project will be connected to the NEA Balanch Substation at 132 KV side which is only 7 Km away from the company&#39;s proposed powerhouse. Moreover, the company assured that the return to the shareholders will increase in future as it is also developing other projects including numerous solar projects. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4505',
			'image' => '20161103010403_api.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '4674',
			'article_category_id' => '1',
			'title' => 'Agni Incorporated Launches Mahindra 'Uday' Scheme ',
			'sub_title' => '',
			'summary' => 'November 3: Agni Incorporated, the authorised distributor of Mahindra & Mahindra Ltd, has launched "Mahindra Uday" scheme in a bid to strengthen the relation between the company and its 'pick-up customers'. Under the scheme, the service seekers will be provided special servicing services along with various other services.  ',
			'content' => '<p style="text-align:justify">November 3: Agni Incorporated, the authorised distributor of Mahindra &amp; Mahindra Ltd, has launched &quot;Mahindra Uday&quot; scheme in a bid to strengthen the relation between the company and its &#39;pick-up customers&#39;. Under the scheme, the service seekers will be provided special servicing services along with various other services. &nbsp;</p>

<p style="text-align:justify"><br />
&quot;Under the scheme, participant customer will be provided a membership card based on which the customer can receive various facilities from the dealers of Agni,&quot; said the company. The company informed that the scheme will mainly provide free accidental life insurance upto Rs 200,000, scholarships of Rs 25,000 to 25 brilliant students and discounts on spare parts and lubricants.&nbsp;</p>

<p style="text-align:justify"><br />
Moreover, the company also launched Big Bolero Pick-up having big cargo box, big payload, big power and big comfortable cabin features in the Nepali market.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4504',
			'image' => '20161103120420_mahindra.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '4673',
			'article_category_id' => '1',
			'title' => 'ADB Approves $120 million to Improve Nepal’s Education Standards',
			'sub_title' => '',
			'summary' => 'November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.',
			'content' => '<p style="text-align: justify;">November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.</p>

<p style="text-align: justify;">Issuing the press release, the bank informed that the loan is part of a multi-donor program to provide $6.5 billion to the School Sector Development Plan, the government&rsquo;s main education initiative for 2017-2023, that includes setting up of 200 model schools with disaster risk resilient infrastructure, improved education facilities, a full complement of teachers and quality improvements to enhance student learning.</p>

<p style="text-align: justify;">&ldquo;Continued investment in education, particularly secondary education, is critical for Nepal to achieve its goal of becoming an inclusive and prosperous middle-income country by 2030,&rdquo; said Sungsup Ra, Director, Human and Social Development Division in ADB&rsquo;s South Asia Regional Department. &ldquo;The project will support government efforts to increase the number of secondary school graduates, who will earn higher wages than non-graduates, and boost the efficiency of the country&rsquo;s education system.&rdquo;</p>

<p style="text-align: justify;">According to the bank, although enrollment in basic education is high, few students, especially among marginalized groups such as Dalits and poor girls, progress to secondary education in Nepal. The quality of learning is hampered by a lack of teachers and scarce opportunities for teachers&rsquo; professional development. Average achievement scores are particularly low in key subjects like math and science, and only 47% of students passed the grade 10 examinations in 2015.</p>

<p style="text-align: justify;">As part of the School Sector Development Plan, the ADB loan will boost quality education by, for example, introducing and expanding ICT in classrooms, boosting teachers&rsquo; professional development, and promoting activity-based pedagogy for math, science, and English. The model schools, meanwhile, will have a separate head teacher, a full complement of subject teachers, disaster risk-resilient infrastructure, water and sanitation facilities, a library, a science laboratory, ICT facilities, internet connectivity, and e-resources.</p>

<p style="text-align: justify;">&quot;The $6.5 billion program will benefit 6.3&nbsp;million students, 153,200 teachers, and more than 34,000 schools. It is envisaged that 4,500 schools will receive separate individual subject teachers for math, science, and English by 2021. Professional development courses will be provided to 13,500 subject teachers and activity-based math, science, and English kits for grades 6-8 will be made available in 3,000 schools. The model school program will be rolled out in 200 community schools, benefiting 40,000 students&mdash;half of which will be girls&mdash;with training for 2,000 teachers in new ICT and e-learning resources,&quot; reads the statement.</p>

<p style="text-align: justify;">The program will be carried out over the next 5 years under ADB&rsquo;s results-based lending modality, which will disburse funds based on the achievement of yearly results or performance targets.</p>

<p style="text-align: justify;">&ldquo;We expect the government to establish a sound institutional setup to strongly drive the reform and change processes envisaged in the SSDP,&rdquo; said Mr. Ra.</p>

<p style="text-align: justify;">ADB will collaborate with 8 other development partners and the government of Nepal in a sector-wide approach, using a common results framework and disbursement-linked indicator matrix. This will ensure harmonization and joint action for greater impact.</p>

<p style="text-align: justify;">ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members &ndash; 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4503',
			'image' => '20161103113420_adb.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4672',
			'article_category_id' => '1',
			'title' => 'Prabhu Insurance to Distribute 17% Bonus Share',
			'sub_title' => '',
			'summary' => 'November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million. ',
			'content' => '<p style="text-align: justify;">November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4502',
			'image' => '20161103111730_prabhu insurance.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
		)
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	(int) 11 => array(
		'Article' => array(
			'id' => '4671',
			'article_category_id' => '1',
			'title' => 'NB Insurance Branches at Three Locations',
			'sub_title' => '',
			'summary' => 'November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.',
			'content' => '<p style="text-align: justify;">November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.</p>

<p style="text-align: justify;">&quot;NB insurance, establishing itself as a prominent insurance company, will expand its branches all across the country so that to provide easy, fast and reliable insurance services,&quot; said Ambika Prasad Poudel, BOD Director of the company. With the additions, the company will be providing its services through 17 branches, 5 contact offices and 11 service counters. Poudel informed of receiving Rs 45.3 million as premium from auctioning unsold right shares. &quot;After issuing the 10:8 right shares, the paid-up capital of the company has reached Rs 270 million. The company will soon expand its branch network all across the country to provide convenient services to general public,&quot; he added.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4501',
			'image' => '20161103110416_nb insurnace.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '4670',
			'article_category_id' => '1',
			'title' => 'SEBON’s Stand Hinders Acquisition of Reliable Devt Bank',
			'sub_title' => '',
			'summary' => 'November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank's initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors' decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).',
			'content' => '<p style="text-align: justify;">November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank&#39;s initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors&#39; decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).</p>

<p style="text-align: justify;"><br />
Global IME has indicated to withdraw the acquisition decision as the earlier decided swap ratio of the banks will be disordered. Upon the happening, the expectations of the Reliable Development Bank of becoming a commercial bank will not be meet. Similarly, the investors of Reliable Development bank are also favoring the acquisition as Global IME is one of the biggest commercial banks of Nepal which would yield high return on shares. One of the shareholders of Reliable said, &ldquo;If Reliable turns a commercial bank, the shareholders will benefit in the future. The high level of management has assured the shareholders of the acquisition.&rdquo; According to the sources of the bank, it is not necessary to issue right shares in 1:1 ratio approved by general meeting.&nbsp;</p>

<p style="text-align: justify;"><br />
The board has stressed the development bank to issue shares endorsed by general meeting not only for confidence of shareholders but also to follow current law. Niraj Giri, Acting Director and Spokesperson of the board said, &ldquo;All the companies are equal in front of the law. It is good that a company is doing well but the decision made by general meeting should not be changed as per the regulation.&rsquo; He said that the precedent could make negative impact in the share market thus the relevant party must make decision practically.&nbsp;</p>

<p style="text-align: justify;"><br />
Many banks and financial institutions have opted to use alternatives such as merger, acquisition and issuance of right shares in order to meet minimum paid-up capital as per the directive of Nepal Rastra Bank by the fiscal year 2073/74. Therefore, Reliable had made plan of issuing right shares till it gets suitable partner for merger and acquisition.&nbsp;</p>

<p style="text-align: justify;"><br />
However, Global IME came forward to acquire the bank for which both companies informed of agreement made between them to Nepal Stock Exchange on September 28, 2016. As per the agreement, the development bank will distribute accumulated profit of Rs 270.90 million to its current shareholders till June 2016. In case of failure of the acquisition, the development bank will have to issue right shares along with the lost opportunity of becoming a commercial bank.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-02',
			'modified' => '2016-11-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4500',
			'image' => '20161102010726_reliable.jpg',
			'article_date' => '2016-11-02 00:00:00',
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		'Article' => array(
			'id' => '4669',
			'article_category_id' => '1',
			'title' => 'Int'l trade fair in Dehradun to target holidaymakers',
			'sub_title' => '',
			'summary' => 'November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, ',
			'content' => '<p>November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, the capital of India&#39;s Uttarakhand state, with an aim to promote ecotourism.</p>

<p>The Chamber is holding a first ever international trade fair to promote its art, culture and tourism destinations. The event is expected to attract Indian tourists as well as tourists from other countries to Nepal.</p>

<p>The five &ndash; day trade fair to start in the second week of December will showcase handicraft materials, herbs, readymade garments, Pashmina and information related to the tourism destinations through more than 40 stalls.</p>
',
			'published' => true,
			'created' => '2016-11-01',
			'modified' => '2016-11-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4499',
			'image' => null,
			'article_date' => '2016-11-01 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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		'Article' => array(
			'id' => '4668',
			'article_category_id' => '1',
			'title' => 'Rajesh Hamal Nepal Brand Ambassador for Indica Easy',
			'sub_title' => '',
			'summary' => 'October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand 'Indica Easy Hair Colour'. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.',
			'content' => '<p style="text-align:justify">October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand &#39;Indica Easy Hair Colour&#39;. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.</p>

<p style="text-align:justify">&ldquo;We are proud that we have Rajesh Hamal who fits into all the brand values seamlessly. He has won the hearts of Nepalese audience through his unique own style of melodrama,&rdquo; commented one of the company personnel.</p>

<p style="text-align:justify">Similarly, speaking at the program, Rajesh Hamal expressed his happiness to be associated with such innovative product and brand. &ldquo;I have myself tried the product and found it to be extremely satisfactory. I believe that Nepalese consumers will finally see some world class product being marketed in our country.&rdquo;</p>

<p style="text-align:justify">CavinKare is diversified fast moving consumer goods (FMCG) with its major brands in personal care, dairy, snacks, foods and beverages.&nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-28',
			'modified' => '2016-10-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4498',
			'image' => '20161028045238_Indica-Easy-Hair-Colour_Dark-brown.jpg',
			'article_date' => '2016-10-28 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
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$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '4682',
			'article_category_id' => '1',
			'title' => 'Bhandari Re-appointed as NCHL Chairman',
			'sub_title' => '',
			'summary' => 'November 4: Rajan Singh Bhandari has been selected as the Chairman of the board of Nepal Clearing House (NCHL).  The board meeting held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) an',
			'content' => '<p style="text-align:justify">November 4: Rajan Singh Bhandari has been re-appointed as Chairman of the board of Nepal Clearing House Limited (NCHL).&nbsp; The board meeting of NCHL held on last week selected Bhandari for the second tenure. Similarly, the annual general meeting (AGM) held on last month elected Rajan Singh Bhandari (Citizens Bank), Upendra Poudyal (NMB Bank) and Jyoti Prakash Pandey (Nepal Investment Bank) from the commercial banks group in the post of directors. Likewise, Janak Bahadur Adhikari (Executive Director of NRB), Krishna Lamichhane (Kailash Bikash Bank), Saroj Kaji Tuladhar (Goodwill Finanace) and Rabindra Bahadur Malla (Smart Choice Technology) are the other directors of NCHL. &nbsp;&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4512',
			'image' => '20161104025013_bhandari.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		'Article' => array(
			'id' => '4681',
			'article_category_id' => '1',
			'title' => 'Laxmi Bank Open Golf Tournament',
			'sub_title' => '',
			'summary' => 'November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.',
			'content' => '<p style="text-align: justify;">November 4: Laxmi Bank Open Golf Tournament is scheduled for Saturday at the Gokarna Golf Club. This tournament will be played over 18 holes on stableford 3/4 handicap format. The tournament features men, women, senior, guest and junior sections. Around 100 amateur golfers are expected to take part in the tournament.</p>

<p style="text-align: justify;">According to the organizer, the tournament will have winner, first-runner up, ladies winner, ladies first-runner up, senior citizen winner, best gross, longest dive, closest to the pin and most birdies.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4511',
			'image' => '20161104023729_laxmi bank.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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		'Article' => array(
			'id' => '4680',
			'article_category_id' => '1',
			'title' => 'Qatar Airways Special Business Class Offer',
			'sub_title' => '',
			'summary' => 'November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of 'two seats, one great offer'. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.',
			'content' => '<p>November 4: Qatar airways has launched an exclusive companion offer under which couples, friends and family can take advantage of &#39;two seats, one great offer&#39;. This offer lasts from November 1 to November 7. The airline said in a statement that this unique offer is designed for passengers to explore the world together while making memories they will cherish forever.<br />
&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4510',
			'image' => '20161104022752_qatar airways.jpg',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 3 => array(
		'Article' => array(
			'id' => '4679',
			'article_category_id' => '1',
			'title' => 'Import of Diamond Increases Dominating Gold and Silver',
			'sub_title' => '',
			'summary' => 'November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department.  According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.',
			'content' => '<p style="text-align:justify">November 4: The business expansion of precious stone diamond in recent times has affected the business of gold and silver. It is shown by the statistics of import of precious metals and gems through formal medium along with the statistics of custom revenue department. &nbsp;According to the statistics of Department of Custom (DoC), the import of gold and silver has declined while the import of diamond has risen in the first quarter of the current FY in compare to the corresponding period of last FY.</p>

<p style="text-align:justify"><br />
However, the government officials cited the decrease in import of gold and silver to the control of illegal transaction and not the contraction of the market. &ldquo;The import of gold and silver has declined due to Nepal Rastra Bank (NRB) provision of not allowing Nepali passengers to bring raw gold while returning from abroad,&rdquo; says Shishir Kumar Dhungana, General Director of DoC. He added that NRB&#39;s tighten policy, control in smuggling and surveillance of Department of Revenue Investigation has caused the decline in the import on gold and silver.</p>

<p style="text-align:justify"><br />
In the first quarter of FY 2016/17, the import of gold and silver has been dwindled by 27.48 percent and 45.67 percent respectively. Meanwhile the statistics reveals that the import of diamond has increased by 13.21 percent in the same period. Due to the decrease in import of gold and silver, the major consumed precious metals, in the Nepali market, the whole precious metals and stones import has decreased by 34.25 percent in the first three months of the current FY.&nbsp;</p>

<p style="text-align:justify"><br />
Similarly, the total amount of gold import which was Rs 5.64&nbsp;billion in the first quarter of the last FY has decreased to Rs 4.9 billion in the current FY. Likewise, the total amount of silver import of Rs 3.6 billion in the first three months of the last FY has decreased to Rs 1.54 billion in the same period of current FY. However, on the same period, the import of diamond has increased from Rs 190 million to Rs 215.1&nbsp;million.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4509',
			'image' => '20161104020347_gold and silver.JPG',
			'article_date' => '2016-11-04 00:00:00',
			'homepage' => false,
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			'id' => '4678',
			'article_category_id' => '1',
			'title' => 'Sangrila Development Bank Celebrates 12th Anniversary',
			'sub_title' => '',
			'summary' => 'November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13th year. On the occasion, the bank organised a blood donation program with a slogan 'Raktadaan-Jeevandaan'. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected ',
			'content' => '<p>November 4: Sangrila Development Bank has completed its 12th years of operation and entered into 13<sup>th</sup> year. On the occasion, the bank organised a blood donation program with a slogan &#39;Raktadaan-Jeevandaan&#39;. According to Rajendra Prasad Poudel, Chief Executive Officer of the bank, a total of 197 points of blood were collected from the blood donation programs organised in the premises of central office located at Baluwatar along with other regional offices at Nepalgunj and Pokhara. Presently, the bank is providing its banking services through its network of 31 branches, 6 microfinance units and 12 ATMs.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-04',
			'modified' => '2016-11-04',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4508',
			'image' => '20161104011229_sangrila.jpg',
			'article_date' => '2016-11-04 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' => '4677',
			'article_category_id' => '1',
			'title' => 'Ncell Contributes Rs 1.15 billion to Rural Telecommunication Fund',
			'sub_title' => '',
			'summary' => 'November 3: Ncell, the first private sector's mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government's regulation, Ncell contributed 2 percent of its total income to the Fund.',
			'content' => '<p style="text-align:justify">November 3: Ncell, the first private sector&#39;s mobile service provider of the country, has contributed Rs 1.15 billion to Rural Telecommunication Fund. The company provided the amount to the fund from its total income of the last FY. As per the government&#39;s regulation, Ncell contributed 2 percent of its total income to the Fund.</p>

<p style="text-align:justify">According to the Nepal Telecommunication Authority (NTA), Nell deposited the highest amount to the Fund in the last FY followed by Nepal Telecom. Nepal Telecom has granted Rs 780 million to the Fund. Among the internet service providers, Subisu has deposited the highest amount of Rs 17.6 million. Ncell has been contributing the highest amount to the fund since last 3-4 years as the top mobile service provider of the country.</p>

<p style="text-align:justify">Based on the amount contributed by Ncell to the fund, Ncell earned Rs 57 billion in the last FY. Similarly, NT earned Rs 39 billion in the last FY. According to the NTA employees, the actual income of the companies will be known after the announcement of their auditor&#39;s report by mid-December.</p>

<p style="text-align:justify">As per the sub-section (4) of section (30) of Telecommunication Act, 2053, NTA will form a fund in order to develop, expand and operation of telecommunication services in rural areas and licensed companies will have to deposit 2 percent of total income earned annually to the fund. The amount accumulated in the fund will be utilised for the development, expansion and operation of telecommunication services through the service providers in the rural areas under the synchronisation of the telecommunication policy of the government.</p>

<p style="text-align:justify">Based on the amount deposited by Ncell, Nepal Telecom and other internet service providers to the fund, the annual income of the telecommunication sector of the country has passed out Rs 100 billion. However, nearly 30-40 percent income of the sector is contributed by the phone-calls done from foreign countries.</p>

<p style="text-align:justify">The telecommunication service providers have contributed more than Rs 2.25 billion to the fund in the last FY. The government has been collected billions of revenue from the sector every year. Due to which, Ncell and NT has become the highest taxpayers of the country. Ncell has topped the tax payers list for the last 4 years.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4507',
			'image' => '20161103044949_ncell.JPG',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
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		'Article' => array(
			'id' => '4676',
			'article_category_id' => '1',
			'title' => '20 Hydel Projects Granted Power Generation License',
			'sub_title' => '',
			'summary' => 'November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.',
			'content' => '<p style="text-align: justify;">November 3: The government has granted hydro-power generation license to 20 projects including small and big within the seven months of this year. The power generation license has been provided to 3MW Miltikhola Hydro-electricity project to 400 MW Kali Gandaki Hydro-electricity.</p>

<p style="text-align: justify;">Among those projects, two projects were granted license in the two months period of mid-April/mid-June whereas in mid-June/mid-July, three projects were provided license. Similarly, the government distributed power generation license to the six projects in mid-July/mid-August. Likewise, the government has issued license for three projects in mid-August/mid-September and mid-September/mid-October each whereas only one project got power generation license till November 3. The government had distributed power generation license to only 17 projects in the same period of last year. &nbsp;</p>

<p style="text-align: justify;">Furthermore, the number of projects receiving production survey license within the seven months of this year has reached 22.</p>

<p style="text-align: justify;">In a contrast, the government has not issued single Survey License for Transmission or Transmission Construction licenses in these seven months. According to stakeholders, the difference in distribution of power generation license and transmission license may create various problems in near future. For that matter, co-ordination between power development department which gives power generation permit and NEA which works as transmitter is essential.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4506',
			'image' => '20161103024555_nea.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
			'in_scroller' => false,
			'user_id' => '16'
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	(int) 7 => array(
		'Article' => array(
			'id' => '4675',
			'article_category_id' => '1',
			'title' => 'PPA Signed for 8MW Upper Naugarh Gad Hydropower Project',
			'sub_title' => '',
			'summary' => 'November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.',
			'content' => '<p>November 3: APi Power Company has signed the Power Purchase Agreement of Upper Naugarh Gad Small Hydropower Project with Nepal Electricity Authority on October 28. The project is based in Darchula.</p>

<p>Issuing a press statement, the company informed that the company has already constructed 8.5 MW Hydropower Project in the same river last year. The company had constructed the project in 17 months.</p>

<p>According to the statement, the company is planning to construct the new project of 8 MW within next 15-17 months. The company expects that the power generated from the project will be connected to the NEA Balanch Substation at 132 KV side which is only 7 Km away from the company&#39;s proposed powerhouse. Moreover, the company assured that the return to the shareholders will increase in future as it is also developing other projects including numerous solar projects. &nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4505',
			'image' => '20161103010403_api.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '4674',
			'article_category_id' => '1',
			'title' => 'Agni Incorporated Launches Mahindra 'Uday' Scheme ',
			'sub_title' => '',
			'summary' => 'November 3: Agni Incorporated, the authorised distributor of Mahindra & Mahindra Ltd, has launched "Mahindra Uday" scheme in a bid to strengthen the relation between the company and its 'pick-up customers'. Under the scheme, the service seekers will be provided special servicing services along with various other services.  ',
			'content' => '<p style="text-align:justify">November 3: Agni Incorporated, the authorised distributor of Mahindra &amp; Mahindra Ltd, has launched &quot;Mahindra Uday&quot; scheme in a bid to strengthen the relation between the company and its &#39;pick-up customers&#39;. Under the scheme, the service seekers will be provided special servicing services along with various other services. &nbsp;</p>

<p style="text-align:justify"><br />
&quot;Under the scheme, participant customer will be provided a membership card based on which the customer can receive various facilities from the dealers of Agni,&quot; said the company. The company informed that the scheme will mainly provide free accidental life insurance upto Rs 200,000, scholarships of Rs 25,000 to 25 brilliant students and discounts on spare parts and lubricants.&nbsp;</p>

<p style="text-align:justify"><br />
Moreover, the company also launched Big Bolero Pick-up having big cargo box, big payload, big power and big comfortable cabin features in the Nepali market.&nbsp;</p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4504',
			'image' => '20161103120420_mahindra.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '4673',
			'article_category_id' => '1',
			'title' => 'ADB Approves $120 million to Improve Nepal’s Education Standards',
			'sub_title' => '',
			'summary' => 'November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.',
			'content' => '<p style="text-align: justify;">November 3: The Asian Development Bank (ADB) has approved a $120 million loan and a $500,000 grant to help improve access and quality of secondary education in Nepal.</p>

<p style="text-align: justify;">Issuing the press release, the bank informed that the loan is part of a multi-donor program to provide $6.5 billion to the School Sector Development Plan, the government&rsquo;s main education initiative for 2017-2023, that includes setting up of 200 model schools with disaster risk resilient infrastructure, improved education facilities, a full complement of teachers and quality improvements to enhance student learning.</p>

<p style="text-align: justify;">&ldquo;Continued investment in education, particularly secondary education, is critical for Nepal to achieve its goal of becoming an inclusive and prosperous middle-income country by 2030,&rdquo; said Sungsup Ra, Director, Human and Social Development Division in ADB&rsquo;s South Asia Regional Department. &ldquo;The project will support government efforts to increase the number of secondary school graduates, who will earn higher wages than non-graduates, and boost the efficiency of the country&rsquo;s education system.&rdquo;</p>

<p style="text-align: justify;">According to the bank, although enrollment in basic education is high, few students, especially among marginalized groups such as Dalits and poor girls, progress to secondary education in Nepal. The quality of learning is hampered by a lack of teachers and scarce opportunities for teachers&rsquo; professional development. Average achievement scores are particularly low in key subjects like math and science, and only 47% of students passed the grade 10 examinations in 2015.</p>

<p style="text-align: justify;">As part of the School Sector Development Plan, the ADB loan will boost quality education by, for example, introducing and expanding ICT in classrooms, boosting teachers&rsquo; professional development, and promoting activity-based pedagogy for math, science, and English. The model schools, meanwhile, will have a separate head teacher, a full complement of subject teachers, disaster risk-resilient infrastructure, water and sanitation facilities, a library, a science laboratory, ICT facilities, internet connectivity, and e-resources.</p>

<p style="text-align: justify;">&quot;The $6.5 billion program will benefit 6.3&nbsp;million students, 153,200 teachers, and more than 34,000 schools. It is envisaged that 4,500 schools will receive separate individual subject teachers for math, science, and English by 2021. Professional development courses will be provided to 13,500 subject teachers and activity-based math, science, and English kits for grades 6-8 will be made available in 3,000 schools. The model school program will be rolled out in 200 community schools, benefiting 40,000 students&mdash;half of which will be girls&mdash;with training for 2,000 teachers in new ICT and e-learning resources,&quot; reads the statement.</p>

<p style="text-align: justify;">The program will be carried out over the next 5 years under ADB&rsquo;s results-based lending modality, which will disburse funds based on the achievement of yearly results or performance targets.</p>

<p style="text-align: justify;">&ldquo;We expect the government to establish a sound institutional setup to strongly drive the reform and change processes envisaged in the SSDP,&rdquo; said Mr. Ra.</p>

<p style="text-align: justify;">ADB will collaborate with 8 other development partners and the government of Nepal in a sector-wide approach, using a common results framework and disbursement-linked indicator matrix. This will ensure harmonization and joint action for greater impact.</p>

<p style="text-align: justify;">ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB in December 2016 will mark 50 years of development partnership in the region. It is owned by 67 members &ndash; 48 from the region. In 2015, ADB assistance totaled $27.2 billion, including cofinancing of $10.7 billion.</p>
',
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			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4503',
			'image' => '20161103113420_adb.jpg',
			'article_date' => '2016-11-03 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '4672',
			'article_category_id' => '1',
			'title' => 'Prabhu Insurance to Distribute 17% Bonus Share',
			'sub_title' => '',
			'summary' => 'November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million. ',
			'content' => '<p style="text-align: justify;">November 3: Prabhu Insurance is distributing 17 percent bonus share to its shareholders. The 21th annual general meeting of the company has approved a proposal of distributing 17 percent bonus share of its total paid-up capital to its shareholders. Moreover, the company also endorsed a proposal of issuing 50 percent i.e 2:1 right shares of the paid-up capital maintained after distribution of bonus shares. After the issuance of bonus and right shares, the total paid-up capital of the company will reach Rs 577.5 million.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4502',
			'image' => '20161103111730_prabhu insurance.jpg',
			'article_date' => '2016-11-03 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => true,
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	(int) 11 => array(
		'Article' => array(
			'id' => '4671',
			'article_category_id' => '1',
			'title' => 'NB Insurance Branches at Three Locations',
			'sub_title' => '',
			'summary' => 'November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.',
			'content' => '<p style="text-align: justify;">November 3: NB insurance has opened three new branches in the capital. The company started branches at Kalanki, Koteshwor and Sallaghari of the valley. Prof Dr Fatta Bahadur KC, Chairman of Insurance Board inaugurated the branches. Chairman KC, congratulating the company on its successful launch of three branches in a short span of time, requested the board of directors and management to focus on development and expansion of the insurance sector.</p>

<p style="text-align: justify;">&quot;NB insurance, establishing itself as a prominent insurance company, will expand its branches all across the country so that to provide easy, fast and reliable insurance services,&quot; said Ambika Prasad Poudel, BOD Director of the company. With the additions, the company will be providing its services through 17 branches, 5 contact offices and 11 service counters. Poudel informed of receiving Rs 45.3 million as premium from auctioning unsold right shares. &quot;After issuing the 10:8 right shares, the paid-up capital of the company has reached Rs 270 million. The company will soon expand its branch network all across the country to provide convenient services to general public,&quot; he added.&nbsp;</p>
',
			'published' => true,
			'created' => '2016-11-03',
			'modified' => '2016-11-03',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4501',
			'image' => '20161103110416_nb insurnace.jpg',
			'article_date' => '2016-11-03 00:00:00',
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			'breaking_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '4670',
			'article_category_id' => '1',
			'title' => 'SEBON’s Stand Hinders Acquisition of Reliable Devt Bank',
			'sub_title' => '',
			'summary' => 'November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank's initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors' decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).',
			'content' => '<p style="text-align: justify;">November 2: The recent stand of Securities Board of Nepal (SEBON) has created difficulty to Reliable Development Bank which was in a process to be acquired by Global IME bank. According to SEBON, the bank&#39;s initiation to go into acquisition with Global IME without issuing right shares to its shareholders as per the board of directors&#39; decision is against the prevailed law. Based on which, the regulatory body has clearly stated that the bank cannot go into acquisition till the issuance of right shares approved by its annual general meeting (AGM).</p>

<p style="text-align: justify;"><br />
Global IME has indicated to withdraw the acquisition decision as the earlier decided swap ratio of the banks will be disordered. Upon the happening, the expectations of the Reliable Development Bank of becoming a commercial bank will not be meet. Similarly, the investors of Reliable Development bank are also favoring the acquisition as Global IME is one of the biggest commercial banks of Nepal which would yield high return on shares. One of the shareholders of Reliable said, &ldquo;If Reliable turns a commercial bank, the shareholders will benefit in the future. The high level of management has assured the shareholders of the acquisition.&rdquo; According to the sources of the bank, it is not necessary to issue right shares in 1:1 ratio approved by general meeting.&nbsp;</p>

<p style="text-align: justify;"><br />
The board has stressed the development bank to issue shares endorsed by general meeting not only for confidence of shareholders but also to follow current law. Niraj Giri, Acting Director and Spokesperson of the board said, &ldquo;All the companies are equal in front of the law. It is good that a company is doing well but the decision made by general meeting should not be changed as per the regulation.&rsquo; He said that the precedent could make negative impact in the share market thus the relevant party must make decision practically.&nbsp;</p>

<p style="text-align: justify;"><br />
Many banks and financial institutions have opted to use alternatives such as merger, acquisition and issuance of right shares in order to meet minimum paid-up capital as per the directive of Nepal Rastra Bank by the fiscal year 2073/74. Therefore, Reliable had made plan of issuing right shares till it gets suitable partner for merger and acquisition.&nbsp;</p>

<p style="text-align: justify;"><br />
However, Global IME came forward to acquire the bank for which both companies informed of agreement made between them to Nepal Stock Exchange on September 28, 2016. As per the agreement, the development bank will distribute accumulated profit of Rs 270.90 million to its current shareholders till June 2016. In case of failure of the acquisition, the development bank will have to issue right shares along with the lost opportunity of becoming a commercial bank.&nbsp;</p>

<p>&nbsp;</p>
',
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			'created' => '2016-11-02',
			'modified' => '2016-11-02',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4500',
			'image' => '20161102010726_reliable.jpg',
			'article_date' => '2016-11-02 00:00:00',
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		'Article' => array(
			'id' => '4669',
			'article_category_id' => '1',
			'title' => 'Int'l trade fair in Dehradun to target holidaymakers',
			'sub_title' => '',
			'summary' => 'November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, ',
			'content' => '<p>November 1: The Kanchanpur Chamber of Commerce and Industry is set to hold a trade fair in Dehradun, the capital of India&#39;s Uttarakhand state, with an aim to promote ecotourism.</p>

<p>The Chamber is holding a first ever international trade fair to promote its art, culture and tourism destinations. The event is expected to attract Indian tourists as well as tourists from other countries to Nepal.</p>

<p>The five &ndash; day trade fair to start in the second week of December will showcase handicraft materials, herbs, readymade garments, Pashmina and information related to the tourism destinations through more than 40 stalls.</p>
',
			'published' => true,
			'created' => '2016-11-01',
			'modified' => '2016-11-01',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4499',
			'image' => null,
			'article_date' => '2016-11-01 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '4668',
			'article_category_id' => '1',
			'title' => 'Rajesh Hamal Nepal Brand Ambassador for Indica Easy',
			'sub_title' => '',
			'summary' => 'October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand 'Indica Easy Hair Colour'. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.',
			'content' => '<p style="text-align:justify">October 28: CavinKare has appointed Rajesh Hamal as a new Brand Ambassador for Nepal. The company appointed Hamal as its Brand Ambassador for its brand &#39;Indica Easy Hair Colour&#39;. Issuing a press statement, the company said that Indica herbal hair colour has been one of the most successful hair colour brand in Nepal.</p>

<p style="text-align:justify">&ldquo;We are proud that we have Rajesh Hamal who fits into all the brand values seamlessly. He has won the hearts of Nepalese audience through his unique own style of melodrama,&rdquo; commented one of the company personnel.</p>

<p style="text-align:justify">Similarly, speaking at the program, Rajesh Hamal expressed his happiness to be associated with such innovative product and brand. &ldquo;I have myself tried the product and found it to be extremely satisfactory. I believe that Nepalese consumers will finally see some world class product being marketed in our country.&rdquo;</p>

<p style="text-align:justify">CavinKare is diversified fast moving consumer goods (FMCG) with its major brands in personal care, dairy, snacks, foods and beverages.&nbsp; &nbsp; &nbsp;</p>
',
			'published' => true,
			'created' => '2016-10-28',
			'modified' => '2016-10-28',
			'keywords' => '',
			'description' => '',
			'sortorder' => '4498',
			'image' => '20161028045238_Indica-Easy-Hair-Colour_Dark-brown.jpg',
			'article_date' => '2016-10-28 00:00:00',
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			'breaking_news' => false,
			'main_news' => true,
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			'user_id' => '16'
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