October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the…
October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October…
October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month…
October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali"…
October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its…
October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition.…
October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling…
October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88…
October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the…
October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one…
October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October…
October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of…
October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week.…
October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will…
October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4626', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Launches ‘Siddhartha e-Sewa Account’', 'sub_title' => '', 'summary' => 'October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.', 'content' => '<p style="text-align: justify;">October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.</p> <p style="text-align: justify;"><br /> According to the bank, the customers can open the account on zero balance and can get various facilities including cheque-book and electronic banking package. The bank believes that the techno-friendly customers of e-Sewa will be able to receive high quality of banking services through the product. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4456', 'image' => '20161023112805_siddhartha bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4625', 'article_category_id' => '1', 'title' => 'Soaltee Hotel Prepares For Its Golden Jubilee Celebrations ', 'sub_title' => '', 'summary' => 'October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. ', 'content' => '<p style="text-align: justify;">October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. </p> <p style="text-align: justify;">On the occasion, Prabhakar SJB Rana, Chairman Emeritus of Soaltee Crowne Plaza also announced about the establishment of four star hotels in Nepalgunj. He informed that the hotel is already under construction and is scheduled for soft launch in March/April 2017. The company has also procured a land at Khapaundi, Pokhara to build a hotel. Soaltee Hotel was founded by the Late Prince Himalaya Bir Bikram Shah Dev and the Late Princess Rajya Laxmi Devi Shah in the year 1965. The 104 rooms’ hotel was inaugurated by the Late King Mahendra Bir Bikram Shah Dev in the year 1966. </p> <p style="text-align: justify;">In the year 1969, Soaltee Hotel was incorporated as a Private Limited Company. In the same year, Oberoi Hotels (India) Private Limited invested its shares capital for operational management of the Hotel. The brand name of the Hotel was changed to ‘Hotel Soaltee Oberoi’. In the year 1975, it became a Public Limited Company with an investment in the shares capital by Nepal Industrial Development Corporation, International Finance Corporation, Oberoi Hotels (India) Private Limited, Nepal Airlines Corporation, Promoters of the Company and the Public. The Company also started its airline catering services business, which is now operated as LSG Sky Chefs Kathmandu in the vicinity of the Tribhuvan International Airport, Tilganga, and Kathmandu. In the year 2011, Oberoi Hotels Private Limited, an international hotel chain, sold out its entire stake in the Soaltee Hotel to a Nepali Company Sibkrim Land and Industrial Company Private Limited, a company of NE Group. In the year 2014 Soaltee Hospitality Limited, a fully owned subsidiary of Soaltee Hotel Limited was incorporated to increase the portfolio of operational properties throughout the country. </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4455', 'image' => '20161021053747_soaltee.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4624', 'article_category_id' => '1', 'title' => 'FNCCI Statue Amended ', 'sub_title' => ' FNCCI to get first female President ', 'summary' => 'October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically', 'content' => '<p style="text-align:justify">October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically become the new President of the organisation. The amended provision will implemented from the upcoming AGM of FNCCI which will be held on Chaitra. It is believed that the provision will help to end the group politics within the private sector body. The amendment of statute proposal was approved by a full majority of the SGM.</p> <p style="text-align:justify"><br /> The SGM also approved the provision of formulating federation chapters on seven provinces. With the amendment in the statute, improvement in the election system has also been made. Moreover, the structure of FNCCI will be developed as per the federal structure of the country and representation from the province has also been secured in the executive committee. According to FNCCI, the statute is amended in a bid to meet the federal structure of the country as provisioned in the new constitution. Along with the amendment, the earlier system of representative selected from zones and regions have been abolished.</p> <p style="text-align:justify"><br /> "The amended statue has increased the responsibilities and rights of districts level industry and commerce association," said Pashupati Murarka, President of FNCCI. "The amended statue has also widened the role of Commodity Association and Bilateral Commerce and Industry Association," he added. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4454', 'image' => '20161021052455_FNCCI.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4623', 'article_category_id' => '1', 'title' => 'Better Environment for Foreign Investors Needed: US Ambassador', 'sub_title' => '', 'summary' => 'October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.', 'content' => '<p style="text-align:justify">October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.</p> <p style="text-align:justify">Stating the recent parliamentary endorsements of economic Bills as a welcoming move, Ambassador Teplitz said suggested to complete the process of formulation and amendment of Bills as soon as possible. “The Government of Nepal has taken an ambitious aim of uplifting the country’s status into developing nation by 2022. A sustainable economic growth is a must to achieve the goal,” she said, adding, “Timely introduction of new laws and amendment of new ones will eventually create an environment of trust.” According to Teplitz, conscious investors will remain in ‘wait and watch’ situation till a predictable investment environment is created. </p> <p style="text-align:justify">“The US Government has welcomed the recent parliamentary endorsement of Industrial Enterprises Act and Special Economic Zone Act. The Foreign Investment and Technology Transfer Act which is going through the parliamentary process is our main interest,” she said. Teplitz mentioned that the US government is eagerly waiting to see the approval of the Bill by the legislative body soon. She, however, noted that the proposed Bill needs extensive improvements. “There should be an ‘automatic window’ instead of ‘one-stop service centre’ proposed in the FITTA Bill. The proposed provisions of ‘one-stop service center and Industrial and Investment promotion board will make it more difficult for foreign investors rather than facilitating them,” she said. She suggested forming a mechanism of automatic window for approval of foreign investment as issues regarding the management of companies and their employees are dynamic and multidimensional in the modern economy. “India became the top FDI destination by adopting and implementing the ‘automatic window’ concept in 2015," she said. </p> <p style="text-align:justify">She also suggested removal of the cap on FDI in the draft of the proposed FITTA Bill. Stating that policy level obscurity and work level opacity turn the bureaucracy autocratic thereby fostering corruption in the country, Ambassador Teplitz stressed on making economic laws clear, pragmatic and simple as possible.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4453', 'image' => '20161021040017_tepliz.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4626', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Launches ‘Siddhartha e-Sewa Account’', 'sub_title' => '', 'summary' => 'October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.', 'content' => '<p style="text-align: justify;">October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.</p> <p style="text-align: justify;"><br /> According to the bank, the customers can open the account on zero balance and can get various facilities including cheque-book and electronic banking package. The bank believes that the techno-friendly customers of e-Sewa will be able to receive high quality of banking services through the product. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4456', 'image' => '20161023112805_siddhartha bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4625', 'article_category_id' => '1', 'title' => 'Soaltee Hotel Prepares For Its Golden Jubilee Celebrations ', 'sub_title' => '', 'summary' => 'October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. ', 'content' => '<p style="text-align: justify;">October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. </p> <p style="text-align: justify;">On the occasion, Prabhakar SJB Rana, Chairman Emeritus of Soaltee Crowne Plaza also announced about the establishment of four star hotels in Nepalgunj. He informed that the hotel is already under construction and is scheduled for soft launch in March/April 2017. The company has also procured a land at Khapaundi, Pokhara to build a hotel. Soaltee Hotel was founded by the Late Prince Himalaya Bir Bikram Shah Dev and the Late Princess Rajya Laxmi Devi Shah in the year 1965. The 104 rooms’ hotel was inaugurated by the Late King Mahendra Bir Bikram Shah Dev in the year 1966. </p> <p style="text-align: justify;">In the year 1969, Soaltee Hotel was incorporated as a Private Limited Company. In the same year, Oberoi Hotels (India) Private Limited invested its shares capital for operational management of the Hotel. The brand name of the Hotel was changed to ‘Hotel Soaltee Oberoi’. In the year 1975, it became a Public Limited Company with an investment in the shares capital by Nepal Industrial Development Corporation, International Finance Corporation, Oberoi Hotels (India) Private Limited, Nepal Airlines Corporation, Promoters of the Company and the Public. The Company also started its airline catering services business, which is now operated as LSG Sky Chefs Kathmandu in the vicinity of the Tribhuvan International Airport, Tilganga, and Kathmandu. In the year 2011, Oberoi Hotels Private Limited, an international hotel chain, sold out its entire stake in the Soaltee Hotel to a Nepali Company Sibkrim Land and Industrial Company Private Limited, a company of NE Group. In the year 2014 Soaltee Hospitality Limited, a fully owned subsidiary of Soaltee Hotel Limited was incorporated to increase the portfolio of operational properties throughout the country. </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4455', 'image' => '20161021053747_soaltee.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4624', 'article_category_id' => '1', 'title' => 'FNCCI Statue Amended ', 'sub_title' => ' FNCCI to get first female President ', 'summary' => 'October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically', 'content' => '<p style="text-align:justify">October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically become the new President of the organisation. The amended provision will implemented from the upcoming AGM of FNCCI which will be held on Chaitra. It is believed that the provision will help to end the group politics within the private sector body. The amendment of statute proposal was approved by a full majority of the SGM.</p> <p style="text-align:justify"><br /> The SGM also approved the provision of formulating federation chapters on seven provinces. With the amendment in the statute, improvement in the election system has also been made. Moreover, the structure of FNCCI will be developed as per the federal structure of the country and representation from the province has also been secured in the executive committee. According to FNCCI, the statute is amended in a bid to meet the federal structure of the country as provisioned in the new constitution. Along with the amendment, the earlier system of representative selected from zones and regions have been abolished.</p> <p style="text-align:justify"><br /> "The amended statue has increased the responsibilities and rights of districts level industry and commerce association," said Pashupati Murarka, President of FNCCI. "The amended statue has also widened the role of Commodity Association and Bilateral Commerce and Industry Association," he added. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4454', 'image' => '20161021052455_FNCCI.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4623', 'article_category_id' => '1', 'title' => 'Better Environment for Foreign Investors Needed: US Ambassador', 'sub_title' => '', 'summary' => 'October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.', 'content' => '<p style="text-align:justify">October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.</p> <p style="text-align:justify">Stating the recent parliamentary endorsements of economic Bills as a welcoming move, Ambassador Teplitz said suggested to complete the process of formulation and amendment of Bills as soon as possible. “The Government of Nepal has taken an ambitious aim of uplifting the country’s status into developing nation by 2022. A sustainable economic growth is a must to achieve the goal,” she said, adding, “Timely introduction of new laws and amendment of new ones will eventually create an environment of trust.” According to Teplitz, conscious investors will remain in ‘wait and watch’ situation till a predictable investment environment is created. </p> <p style="text-align:justify">“The US Government has welcomed the recent parliamentary endorsement of Industrial Enterprises Act and Special Economic Zone Act. The Foreign Investment and Technology Transfer Act which is going through the parliamentary process is our main interest,” she said. Teplitz mentioned that the US government is eagerly waiting to see the approval of the Bill by the legislative body soon. She, however, noted that the proposed Bill needs extensive improvements. “There should be an ‘automatic window’ instead of ‘one-stop service centre’ proposed in the FITTA Bill. The proposed provisions of ‘one-stop service center and Industrial and Investment promotion board will make it more difficult for foreign investors rather than facilitating them,” she said. She suggested forming a mechanism of automatic window for approval of foreign investment as issues regarding the management of companies and their employees are dynamic and multidimensional in the modern economy. “India became the top FDI destination by adopting and implementing the ‘automatic window’ concept in 2015," she said. </p> <p style="text-align:justify">She also suggested removal of the cap on FDI in the draft of the proposed FITTA Bill. Stating that policy level obscurity and work level opacity turn the bureaucracy autocratic thereby fostering corruption in the country, Ambassador Teplitz stressed on making economic laws clear, pragmatic and simple as possible.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4453', 'image' => '20161021040017_tepliz.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4626', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Launches ‘Siddhartha e-Sewa Account’', 'sub_title' => '', 'summary' => 'October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.', 'content' => '<p style="text-align: justify;">October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.</p> <p style="text-align: justify;"><br /> According to the bank, the customers can open the account on zero balance and can get various facilities including cheque-book and electronic banking package. The bank believes that the techno-friendly customers of e-Sewa will be able to receive high quality of banking services through the product. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4456', 'image' => '20161023112805_siddhartha bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4625', 'article_category_id' => '1', 'title' => 'Soaltee Hotel Prepares For Its Golden Jubilee Celebrations ', 'sub_title' => '', 'summary' => 'October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. ', 'content' => '<p style="text-align: justify;">October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. </p> <p style="text-align: justify;">On the occasion, Prabhakar SJB Rana, Chairman Emeritus of Soaltee Crowne Plaza also announced about the establishment of four star hotels in Nepalgunj. He informed that the hotel is already under construction and is scheduled for soft launch in March/April 2017. The company has also procured a land at Khapaundi, Pokhara to build a hotel. Soaltee Hotel was founded by the Late Prince Himalaya Bir Bikram Shah Dev and the Late Princess Rajya Laxmi Devi Shah in the year 1965. The 104 rooms’ hotel was inaugurated by the Late King Mahendra Bir Bikram Shah Dev in the year 1966. </p> <p style="text-align: justify;">In the year 1969, Soaltee Hotel was incorporated as a Private Limited Company. In the same year, Oberoi Hotels (India) Private Limited invested its shares capital for operational management of the Hotel. The brand name of the Hotel was changed to ‘Hotel Soaltee Oberoi’. In the year 1975, it became a Public Limited Company with an investment in the shares capital by Nepal Industrial Development Corporation, International Finance Corporation, Oberoi Hotels (India) Private Limited, Nepal Airlines Corporation, Promoters of the Company and the Public. The Company also started its airline catering services business, which is now operated as LSG Sky Chefs Kathmandu in the vicinity of the Tribhuvan International Airport, Tilganga, and Kathmandu. In the year 2011, Oberoi Hotels Private Limited, an international hotel chain, sold out its entire stake in the Soaltee Hotel to a Nepali Company Sibkrim Land and Industrial Company Private Limited, a company of NE Group. In the year 2014 Soaltee Hospitality Limited, a fully owned subsidiary of Soaltee Hotel Limited was incorporated to increase the portfolio of operational properties throughout the country. </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4455', 'image' => '20161021053747_soaltee.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4624', 'article_category_id' => '1', 'title' => 'FNCCI Statue Amended ', 'sub_title' => ' FNCCI to get first female President ', 'summary' => 'October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically', 'content' => '<p style="text-align:justify">October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically become the new President of the organisation. The amended provision will implemented from the upcoming AGM of FNCCI which will be held on Chaitra. It is believed that the provision will help to end the group politics within the private sector body. The amendment of statute proposal was approved by a full majority of the SGM.</p> <p style="text-align:justify"><br /> The SGM also approved the provision of formulating federation chapters on seven provinces. With the amendment in the statute, improvement in the election system has also been made. Moreover, the structure of FNCCI will be developed as per the federal structure of the country and representation from the province has also been secured in the executive committee. According to FNCCI, the statute is amended in a bid to meet the federal structure of the country as provisioned in the new constitution. Along with the amendment, the earlier system of representative selected from zones and regions have been abolished.</p> <p style="text-align:justify"><br /> "The amended statue has increased the responsibilities and rights of districts level industry and commerce association," said Pashupati Murarka, President of FNCCI. "The amended statue has also widened the role of Commodity Association and Bilateral Commerce and Industry Association," he added. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4454', 'image' => '20161021052455_FNCCI.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4623', 'article_category_id' => '1', 'title' => 'Better Environment for Foreign Investors Needed: US Ambassador', 'sub_title' => '', 'summary' => 'October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.', 'content' => '<p style="text-align:justify">October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.</p> <p style="text-align:justify">Stating the recent parliamentary endorsements of economic Bills as a welcoming move, Ambassador Teplitz said suggested to complete the process of formulation and amendment of Bills as soon as possible. “The Government of Nepal has taken an ambitious aim of uplifting the country’s status into developing nation by 2022. A sustainable economic growth is a must to achieve the goal,” she said, adding, “Timely introduction of new laws and amendment of new ones will eventually create an environment of trust.” According to Teplitz, conscious investors will remain in ‘wait and watch’ situation till a predictable investment environment is created. </p> <p style="text-align:justify">“The US Government has welcomed the recent parliamentary endorsement of Industrial Enterprises Act and Special Economic Zone Act. The Foreign Investment and Technology Transfer Act which is going through the parliamentary process is our main interest,” she said. Teplitz mentioned that the US government is eagerly waiting to see the approval of the Bill by the legislative body soon. She, however, noted that the proposed Bill needs extensive improvements. “There should be an ‘automatic window’ instead of ‘one-stop service centre’ proposed in the FITTA Bill. The proposed provisions of ‘one-stop service center and Industrial and Investment promotion board will make it more difficult for foreign investors rather than facilitating them,” she said. She suggested forming a mechanism of automatic window for approval of foreign investment as issues regarding the management of companies and their employees are dynamic and multidimensional in the modern economy. “India became the top FDI destination by adopting and implementing the ‘automatic window’ concept in 2015," she said. </p> <p style="text-align:justify">She also suggested removal of the cap on FDI in the draft of the proposed FITTA Bill. Stating that policy level obscurity and work level opacity turn the bureaucracy autocratic thereby fostering corruption in the country, Ambassador Teplitz stressed on making economic laws clear, pragmatic and simple as possible.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4453', 'image' => '20161021040017_tepliz.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - 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 "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '4637', 'article_category_id' => '1', 'title' => 'Government Capital Expenditure Increases Compare to Previous FY', 'sub_title' => '', 'summary' => 'October 24: The capital expenditure of the government in the first three months of the current FY has increased in compare to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-', 'content' => '<p style="text-align:justify">October 24: The capital expenditure of the government in the first three months of the current FY has increased compared to the corresponding period of the last FY. According to the statistics of Financial Comptroller General Office (FCGO), the government expenditure on development and long term capital formation has increased by 41 percent till the mid-October of current FY compared to the corresponding period of the last FY. In the current FY, the timely announcement of the budget for FY 2016/17 and decentralisation of the budget spending authority to the concern departments are resulting increase in capital expenditure, said government officials.</p> <p style="text-align:justify">However, as per the statistics, the total capital expenditure is merely 3.42 percent of the total allocated capital budget of the first quarter. The government has targeted to spend Rs 3,119 billion capital expenditure during the current FY 2073/74. In the allocated capital expenditure, the government has spent only Rs 1,066 billion by the mid-October of the current FY. During the last FY, the government had allocated Rs 209 billion for the capital expenditure in which it had spent Rs 6.50 billion by the mid-October of the last FY.</p> <p style="text-align:justify">"As the government has increased the budget of capital expenditure by nearly 50 percent in the current FY, the proportionate growth in the expenditure is obvious," opines FCGO. The increase in capital expenditure indicates increase in development projects within the country. According to the allocated capital budget in the current FY, a total of Rs 700 billion should have been spent during the first three months. However, only Rs 10.67 billion has been spent till date. If the same pace of spending continues, the government will have to spend Rs 301 billion per month on capital expenditure in the next 9 months.</p> <p style="text-align:justify">If the government fails to spend allocated capital budget, it will bring challenges to the economic development of the country. The budget speech mentioned of concluding the task on preset time and cost, maintaining quality of construction and accountability of decision maker and construction entrepreneur engaged in construction on final outcome. However, the statistics indicates that the government has not prioritised capital expenditure.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4467', 'image' => '20161024020035_capital expenditure.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '4636', 'article_category_id' => '1', 'title' => 'Boom Remittance and Siddhartha Bank in Remit Pact', 'sub_title' => '', 'summary' => 'October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.', 'content' => '<p style="text-align: justify;">October 24: Boom Remittance and Siddhartha Bank has entered into an agreement regarding payment of remittance. Dhirendra Pant, Managing Director of Boom Remittance and Ajay Kumar Mishra, Chief Executive Office of Siddhartha Bank signed the agreement on October 23.</p> <p style="text-align: justify;">According to the agreement, the money send through Boom Remittance can be received from all the branches of Siddhartha Bank. Boom Remittance which is current dealing with remittances sent from Gulf countries informed of starting remittance transaction from Malaysia, Korea, Japan, Canada, Australia, Europe, Israel, Maldives, India and America in near future. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4466', 'image' => '20161024112756_siddhartha bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '4635', 'article_category_id' => '1', 'title' => 'Ford Organises Off-road Adventure Test Drive', 'sub_title' => '', 'summary' => 'October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.', 'content' => '<p style="text-align:justify">October 24: GO Automobiles has conducted an Off-road Adventure Test Drive at Hattiban Resort, Pharping. Issuing a press statement, the company informed that it organised the test drive, going further in its commitment to enhance the brand and ownership experience and as a part of ford truck month celebration.</p> <p style="text-align:justify">According to the statement, the event was conducted with focus on endurance and toughness of its two off-roaders - The All New Ranger and Ford Endeavour.</p> <p style="text-align:justify">"A special off-road track was created with lots of off-road elements like, up-hill, down-hill, pitch, rocky roads for consumer to experience the vehicles at these conditions. Over 200 participants participated in the test drive event and appreciated the ease that these vehicles can be manoeuvred in tough terrain," reads the statement.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4465', 'image' => '20161024105931_ford offroad.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '4634', 'article_category_id' => '1', 'title' => 'Sherpa and Shrestha Win UM Power Max Scooters', 'sub_title' => '', 'summary' => 'October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.', 'content' => '<p style="text-align: justify;">October 24: IME has announced third and fourth weekly winners of its "IME Hat Hudaina Khali" scheme.</p> <p style="text-align: justify;">Issuing a press statement, the company informed that Aang Nermu Sherpa and Saroj Shrestha, who sent money from Malaysia and Denmark with the control number 90676486564 and 12390394325 were the lucky winners of third and fourth week respectively. Under the scheme, Sherpa and Shrestha won UM Power Max Scooters each. </p> <p style="text-align: justify;"><br /> The winners had sent Rs 20,609 and Rs 2,268 respectively to the relatives in Nepal. According to the statement, the prizes will be handed over to the relatives of the winners residing in Nepal recommended by them. </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4464', 'image' => '20161024105128_ime.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '4633', 'article_category_id' => '1', 'title' => 'Siddhartha Bank's Siddhartha 180 Days Fixed Deposit Account', 'sub_title' => '', 'summary' => 'October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.', 'content' => '<p style="text-align:justify">October 24: Siddhartha Bank has launched "Siddhartha 180 Days Fixed Deposit Account" a new fixed deposit product in a bid to provide attractive benefits to its customers.</p> <p style="text-align:justify">According to the bank, the new fixed deposit product is targeted to those customers who want to get attractive benefits in a short period with an interest rate of 7.5 percent.</p> <p style="text-align:justify">"The bank believes that more customers will be benefited from the new fixed deposit product," reads the press statement issued by the bank. <br /> Presently, Siddhartha Bank is providing banking services through its network of 64 branches, 81 ATMs and 66 branchless banking locations across the country.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4463', 'image' => '20161024111754_siddhartha bank..jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '4632', 'article_category_id' => '1', 'title' => 'Laxmi Bank to Acquire Professional Diyalo Bikas Bank', 'sub_title' => '', 'summary' => 'October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. ', 'content' => '<p style="text-align:justify">October 24: The special general meeting (SGM) of Laxmi Bank, held on Sunday, October 23 has decided to acquire Professional Diyalo Bikas Bank and approved the Scheme of Arrangement for the acquisition. </p> <p style="text-align:justify">Issuing a press statement, the bank informed that the meeting approved the valuation of shares of PDBBL at 50 percent of the value of shares of Laxmi Bank Ltd for the purpose of acquisition.</p> <p style="text-align:justify">According to the statement, the SGM also decided to float a 100 percent right share, that was approved earlier by the bank's 15th AGM, to its shareholders after completion of the acquisition process.</p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4462', 'image' => '20161024101616_laxmi bank.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '4631', 'article_category_id' => '1', 'title' => 'Machhapuchhre Bank launches Visa dollar prepaid card', 'sub_title' => '', 'summary' => 'October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.', 'content' => '<p style="text-align:justify">October 24: Machhapuchhre Bank Ltd (MBL) has launched Visa dollar prepaid card targeting the customers travelling abroad.</p> <p style="text-align:justify"><br /> In a press statement, the bank informed that the prepaid card can be used in all ATMs or business centres accepting Visa card in any foreign country besides Bhutan and India.</p> <p style="text-align:justify"><br /> According to the statement, the card can be used in any foreign countries besides Bhutan and India to the limit that Nepal Rastra Bank has permitted. "The card can be used easily as an alternative to foreign currency," reads the statement.</p> <p style="text-align:justify"> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-24', 'modified' => '2016-10-24', 'keywords' => '', 'description' => '', 'sortorder' => '4461', 'image' => '20161024100231_macchha.jpg', 'article_date' => '2016-10-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '4630', 'article_category_id' => '1', 'title' => 'BOP Deficit of Rs 3.5 Billion in Two Months ', 'sub_title' => '', 'summary' => 'October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion', 'content' => '<p style="text-align:justify">October 23: Nepal's overall balance of payment (BOP) has recorded a deficit of Rs 3.50 billion in the two months period of the current FY 2073/74. The figure is shown by the current macroeconomic and financial situation published by Nepal Rastra Bank (NRB) based on two months data. During the first month of current FY, such deficit was Rs 2.13 billion. However, the BOP was in surplus of Rs 31.88 billion in the corresponding period of last FY 2072/73. According to NRB,on account of an increase in trade deficit and dividend payments on foreign investment accompanied with decrease in foreign grants, the current account slipped into a deficit of Rs. 11.12 billion in the review period from a surplus of Rs. 38.48 billion in the same period of the previous year. </p> <p style="text-align:justify"><br /> Similarly, the export-import ratio fell to 8.8 percent in the review period from 11.8 percent in the corresponding period of the previous FY. The total trade deficit in the review period expanded 48.1 percent to Rs 135.84 billion. In the corresponding period of last FY, such trade deficit was contracted to 17.8 percent. </p> <p style="text-align:justify"><br /> Likewise, in the first two months of the current FY, merchandise exports increased 7.7 percent to Rs 13.18 billion compared to a drop of 15.2 percent in the same period of last FY. In the review period, exports to India, China and other countries increased 9 percent, 24.5 percent and 5.5 percent respectively. Commodity wise exports of juice, jute materials, rosin, oil cake, noodles, pulses among other increased whereas export of zinc sheet, readymade garments, polyester yarn, cardamom, G.I. pipes, woolen carpet among others decreased in the review period.</p> <p style="text-align:justify"><br /> Moreover, merchandise imports increased 43.4 percent to Rs. 149.02 billion in the review period compared to a drop of 17.5 percent in the same period of the last FY. In review period, imports from India, China and Other countries increased 49.8 percent, 26.2 percent and 36.5 percent respectively. Commodity wise imports of Vehicles & spare parts, MS billet, Petroleum products, edible oil, telecommunication equipment and parts, electrical goods among others increased whereas imports of Chemical fertilizer, silver, Coldrolled Sheet in Coil, Hotrolled Sheet in coil, readymade garments among others decreased in the review period.<br /> In the review period, the remittances flow increased 6.6 percent to Rs. 114.74 billion compared to a growth of 27.5 percent in the corresponding period of the last FY.</p> <p style="text-align:justify"><br /> Nevertheless, the gross foreign exchange reserves decreased 0.6 percent to Rs. 1032.70 billion as at mid-September 2016 from Rs. 1039.21 billion in mid-July 2016.</p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4460', 'image' => '20161023035522_NRB.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '4629', 'article_category_id' => '1', 'title' => 'CG Unveils EON Blaze 6 and Pro Smart Phones', 'sub_title' => '', 'summary' => 'October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.', 'content' => '<p>October 23: CG mobile has unveiled two new ranges of smart phones in EON Blaze series. The company introduced EON Blaze 6 and EON Blaze Pro smart phones in the market.</p> <p><br /> With 13MP camera and 5MP front camera, EON Blaze 6 works on android. “The EON 6 has 1.3 Ghz quad-core processor which will be useful to store maximum app, playing games and to watch movies,” claims the company in a press statement. The market price of EON Blaze 6 is Rs 11,111. </p> <p><br /> Similarly, EON Blaze Pro has 10MP auto focus camera and 5MP front camera with 5.5 inch HD display. Targeted to the new gadget enthusiast, the smart phone works on latest android operating system and has 8GB ROM and 1GB RAM and can expand the memory through SD card. The phone is available in the market at Rs 9,699. </p> <p><br /> According to the company, the phones have good battery backup and come with one year warranty and free set cover. The smart phones are available in gold color. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4459', 'image' => '20161023014455_eon.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '4628', 'article_category_id' => '1', 'title' => 'NCC Bank to conclude Long Due Merger with 4 Devt Banks', 'sub_title' => '', 'summary' => 'October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.', 'content' => '<p style="text-align: justify;">October 23: Nepal Credit and Commerce (NCC) Bank is preparing to conclude the long due merger with four development banks including Suprim Development, International development, infrastructure development and Apex Development and commence joint transaction within next one month.</p> <p style="text-align: justify;"><br /> Previously, Kumari Bank was also supposed to merge with the aforementioned banks. But when Kumari Bank withheld merger agreement in the mid way, the biggest merger process till date was lengthen for some period. However, the joint merger committee of the banks informed that the banks have submitted proposal to Nepal Rastra Bank for the final approval on merger with a target to start joint transaction from mid-November. "As the swap ratio of the banks are already decided, upon receiving final approval from NRB, joint transaction will be started by completing all the other tasks," said Laxmi Prapanna Niroula, Convenor of NRB formulated NCC Management Team. </p> <p style="text-align: justify;"><br /> After the merger of four development banks with NCC Bank, the merged entity will have paid-up capital of Rs 5.66 billion. After issuing bonus share for the FY 2072/73, the bank is planning to float right shares to meet the short paid-up capital. "The bank requires to issue right shares in order to meet the minimum paid-up capital requirement of Rs 8 billion as per the NRB directive. As per our calculation, the bank will have to issue right shares worth of Rs 500-900 million,' Niroula informed.</p> <p style="text-align: justify;"><br /> The bank informed that the merged entity will have deposit collection of Rs 58 billion and loan extension of Rs 47 billion. The bank will have a total of 96 branches and 1,028 employees. <br /> </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4458', 'image' => '20161023123312_nccbank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '4627', 'article_category_id' => '1', 'title' => 'Remit Agreement between Sunrise Bank and JME ', 'sub_title' => '', 'summary' => 'October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.', 'content' => '<p>October 23: Sunrise Bank has entered in an agreement with JME Remit regarding payment of remittance. According to the bank, Rabin Nepal, Deputy General Manager of the bank and Dipendra Joshi, Chairman of the company signed on an agreement paper amid a program on October 21.</p> <p><br /> As per the agreement, the customers sending money from any place of Japan through JME Remit can be received from 67 branches and two-extension counters of the bank. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4457', 'image' => '20161023113429_sunrise bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '4626', 'article_category_id' => '1', 'title' => 'Siddhartha Bank Launches ‘Siddhartha e-Sewa Account’', 'sub_title' => '', 'summary' => 'October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.', 'content' => '<p style="text-align: justify;">October 23: Siddhartha Bank has launched a new product ‘Siddhartha e-Sewa Account’ aiming the customers of e-Sewa from October 20. Rameshwor Prasad Bassyal, Deputy General Manager of the bank and Asgar Ali, Chairman of e-Sewa Fonepay signed the agreement which mentions that the customers can open ‘Siddhartha e-Sewa Account’ through any official representative of e-Sewa.</p> <p style="text-align: justify;"><br /> According to the bank, the customers can open the account on zero balance and can get various facilities including cheque-book and electronic banking package. The bank believes that the techno-friendly customers of e-Sewa will be able to receive high quality of banking services through the product. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-23', 'modified' => '2016-10-23', 'keywords' => '', 'description' => '', 'sortorder' => '4456', 'image' => '20161023112805_siddhartha bank.jpg', 'article_date' => '2016-10-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '4625', 'article_category_id' => '1', 'title' => 'Soaltee Hotel Prepares For Its Golden Jubilee Celebrations ', 'sub_title' => '', 'summary' => 'October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. ', 'content' => '<p style="text-align: justify;">October 21: Soaltee Crowne Plaza is celebrating its 50th anniversary on November 25. The hotel organised a press conference on October 20 with an aim to inform about the events for the Golden Jubilee Celebrations. Beginning from the 25th, the events for celebrations will be continued throughout the week. </p> <p style="text-align: justify;">On the occasion, Prabhakar SJB Rana, Chairman Emeritus of Soaltee Crowne Plaza also announced about the establishment of four star hotels in Nepalgunj. He informed that the hotel is already under construction and is scheduled for soft launch in March/April 2017. The company has also procured a land at Khapaundi, Pokhara to build a hotel. Soaltee Hotel was founded by the Late Prince Himalaya Bir Bikram Shah Dev and the Late Princess Rajya Laxmi Devi Shah in the year 1965. The 104 rooms’ hotel was inaugurated by the Late King Mahendra Bir Bikram Shah Dev in the year 1966. </p> <p style="text-align: justify;">In the year 1969, Soaltee Hotel was incorporated as a Private Limited Company. In the same year, Oberoi Hotels (India) Private Limited invested its shares capital for operational management of the Hotel. The brand name of the Hotel was changed to ‘Hotel Soaltee Oberoi’. In the year 1975, it became a Public Limited Company with an investment in the shares capital by Nepal Industrial Development Corporation, International Finance Corporation, Oberoi Hotels (India) Private Limited, Nepal Airlines Corporation, Promoters of the Company and the Public. The Company also started its airline catering services business, which is now operated as LSG Sky Chefs Kathmandu in the vicinity of the Tribhuvan International Airport, Tilganga, and Kathmandu. In the year 2011, Oberoi Hotels Private Limited, an international hotel chain, sold out its entire stake in the Soaltee Hotel to a Nepali Company Sibkrim Land and Industrial Company Private Limited, a company of NE Group. In the year 2014 Soaltee Hospitality Limited, a fully owned subsidiary of Soaltee Hotel Limited was incorporated to increase the portfolio of operational properties throughout the country. </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4455', 'image' => '20161021053747_soaltee.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '4624', 'article_category_id' => '1', 'title' => 'FNCCI Statue Amended ', 'sub_title' => ' FNCCI to get first female President ', 'summary' => 'October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically', 'content' => '<p style="text-align:justify">October 21: For the first time in the history of Federation of Nepalese Chamber of Commerce (FNCCI), the largest umbrella organization of Nepali private sector, a female will be leading the organization. With the amendment of the statue of FNCCI by the special general meeting (SGM) held on Thursday, October 20, Senior Vice-President Bhawani Rana will automatically become the new President of the organisation. The amended provision will implemented from the upcoming AGM of FNCCI which will be held on Chaitra. It is believed that the provision will help to end the group politics within the private sector body. The amendment of statute proposal was approved by a full majority of the SGM.</p> <p style="text-align:justify"><br /> The SGM also approved the provision of formulating federation chapters on seven provinces. With the amendment in the statute, improvement in the election system has also been made. Moreover, the structure of FNCCI will be developed as per the federal structure of the country and representation from the province has also been secured in the executive committee. According to FNCCI, the statute is amended in a bid to meet the federal structure of the country as provisioned in the new constitution. Along with the amendment, the earlier system of representative selected from zones and regions have been abolished.</p> <p style="text-align:justify"><br /> "The amended statue has increased the responsibilities and rights of districts level industry and commerce association," said Pashupati Murarka, President of FNCCI. "The amended statue has also widened the role of Commodity Association and Bilateral Commerce and Industry Association," he added. </p> <p> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4454', 'image' => '20161021052455_FNCCI.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '4623', 'article_category_id' => '1', 'title' => 'Better Environment for Foreign Investors Needed: US Ambassador', 'sub_title' => '', 'summary' => 'October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.', 'content' => '<p style="text-align:justify">October 20: Ambassador of United States to Nepal Alaina B Teplitz has urged to ease the approval processes of foreign investments in Nepal. In a meeting with journalists at her residence on October 20, the US envoy stressed on formulating laws and regulations beneficial to investors, consumers as well as the government.</p> <p style="text-align:justify">Stating the recent parliamentary endorsements of economic Bills as a welcoming move, Ambassador Teplitz said suggested to complete the process of formulation and amendment of Bills as soon as possible. “The Government of Nepal has taken an ambitious aim of uplifting the country’s status into developing nation by 2022. A sustainable economic growth is a must to achieve the goal,” she said, adding, “Timely introduction of new laws and amendment of new ones will eventually create an environment of trust.” According to Teplitz, conscious investors will remain in ‘wait and watch’ situation till a predictable investment environment is created. </p> <p style="text-align:justify">“The US Government has welcomed the recent parliamentary endorsement of Industrial Enterprises Act and Special Economic Zone Act. The Foreign Investment and Technology Transfer Act which is going through the parliamentary process is our main interest,” she said. Teplitz mentioned that the US government is eagerly waiting to see the approval of the Bill by the legislative body soon. She, however, noted that the proposed Bill needs extensive improvements. “There should be an ‘automatic window’ instead of ‘one-stop service centre’ proposed in the FITTA Bill. The proposed provisions of ‘one-stop service center and Industrial and Investment promotion board will make it more difficult for foreign investors rather than facilitating them,” she said. She suggested forming a mechanism of automatic window for approval of foreign investment as issues regarding the management of companies and their employees are dynamic and multidimensional in the modern economy. “India became the top FDI destination by adopting and implementing the ‘automatic window’ concept in 2015," she said. </p> <p style="text-align:justify">She also suggested removal of the cap on FDI in the draft of the proposed FITTA Bill. Stating that policy level obscurity and work level opacity turn the bureaucracy autocratic thereby fostering corruption in the country, Ambassador Teplitz stressed on making economic laws clear, pragmatic and simple as possible.</p> <p style="text-align:justify"> </p> ', 'published' => true, 'created' => '2016-10-21', 'modified' => '2016-10-21', 'keywords' => '', 'description' => '', 'sortorder' => '4453', 'image' => '20161021040017_tepliz.jpg', 'article_date' => '2016-10-21 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
