May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and…
May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and…
May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28th branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on…
May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous…
May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share…
May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot…
May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000…
May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking…
May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and…
May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating,…
May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and…
May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the…
May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund. In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger…
May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market…
May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the…
May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam.…
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Under the scheme, on recharge of Rs 200 customer will get Rs 100 bonus with validity of 5 days. Similarly, on recharge of Rs 300 customer will get Rs 200 bonus with validity of 7 days and on recharge of Rs 500 customer will get Rs 400 bonus with validity of 10 days. Likewise, on recharge of Rs 1,000 customer will get Rs 1,000 bonus with validity of 14 days.</p> <p style="text-align: justify;">“We care our customers and keeping them happy to enhance customer experience has always been our main priority,” said Milan Sharma, Corporate Communications Expert of Ncell.</p> <p style="text-align: justify;">The press release states that bonus received under this scheme can be used in making calls, SMS within Ncell network and using data service. The recharge bonus scheme is valid for all recharge done through recharge card, virtual fund transfer (VFT) and e-top up whereas pre-paid to pre-paid balance transfer will not be applicable.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3421', 'image' => '20160522052734_ncell.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3586', 'article_category_id' => '1', 'title' => 'Garima Bikas Bank Opens Branch at Samakhushi', 'sub_title' => '', 'summary' => 'May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28th branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday.', 'content' => '<p style="text-align: justify;">May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28<sup>th</sup> branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday. Speaking at the program, Govinda Prasad Dhakal, CEO of the bank said that Garima Bikas Bank aims to become best among all development banks in the country. “The bank has already merged with Nilgiri Bikas Bank and the merger with Suvekshya Bikas Bank will be finalized soon,” he informed. The bank got approval from Nepal Rastra Bank for financial service in three districts in 2064 B.S, has been able to be established itself as a national level development bank.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3420', 'image' => '20160522050249_garima.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3585', 'article_category_id' => '1', 'title' => 'FDI Declined 81 Percent in Industrial Sector', 'sub_title' => '', 'summary' => 'May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.', 'content' => '<p style="text-align: justify;">May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.</p> <p style="text-align: justify;">According to the statistics of Department of Industries (DOI), foreign investment commitment of Rs 12.56 billion has been approached in large, medium and small industries during the one year from 2015 mid-May to 2016 mid-April. The foreign investment commitment was of Rs 66.78 billion in the same period of previous FY. It shows that foreign investment commitment has lessened by Rs 54.22 billion in the last year in compare to previous FY. The FDI has decreased as registration of industries was comparatively low during the last year.</p> <p style="text-align: justify;">During the previous FY, FDI worth Rs 58.15 billion for 14 large industries, Rs 3.75 billion for middle industries and 4.85 billion for small industries were approached. In the last period, although 10 large industries have been registered, FDI of Rs 4.77 billion has been approached. Similarly, Rs 1.75 billion FDI has been approached for 22 middle industries and Rs 6.04 billion has been approached for 314 small industries.</p> <p style="text-align: justify;">“Due to the year- long effect of the devastating earthquake and the border blockade, investment commitment has significantly declined,” says Rudra Bahadur Malla, Spokesperson of DOI. He believed that coming year will be stimulating in terms of foreign investment. “Foreign investment are being facilitated and promoted through online mechanism. Additionally, planning is underway to establish separate experts’ desk with the aim of providing consulting services to foreign investors.”</p> <p style="text-align: justify;">According to Spokesperson Malla, DOI will finance the expenses of consultation services regarding industries and businesses provided by liberal experts. DOI informs that total of 3,535 projects have been registered under foreign investment so far. The projects have committed to provide 212,000 employments in the country. Till date, foreign investment from 83 various countries are entering in Nepal. </p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/datqa.JPG" style="height:215px; width:680px" /></p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3419', 'image' => '20160522032902_doi.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3584', 'article_category_id' => '1', 'title' => 'Nepal Life to Distribute 26 percent Bonus Shares', 'sub_title' => '', 'summary' => 'May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share distribution.', 'content' => '<h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16<sup>th</sup> annual general meeting held in Birgunj approved the proposal of bonus share distribution.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">The AGM concluded on Friday, May 20 also decided to issue FPO (Follow on Public Offering) which is necessary to maintain the ownership of promoter and public shares in the ratio 70:30 on its paid-up capital after the distribution of bonus shares. After the FPO, the company’s paid-up capital will be Rs 2.47 billion.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">Shareholders in the AGM were informed that Nepal Life Insurance Company has collected Rs 8.9 billion in insurance premiums out of the total collection of Rs 28.83 billion by the country’s insurance sector in the review year. According to the company, the premium collection has led to the company achieving around 33 percent of the market share.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">As per the company, it has been successful in maintaining 8.27 average yield of the total investment even during the adverse situation. </span></span></h3> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3418', 'image' => '20160522014513_lic.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3583', 'article_category_id' => '1', 'title' => 'Global IME Bank in Galkot', 'sub_title' => '', 'summary' => 'May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.', 'content' => '<p style="text-align: justify;">May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.</p> <p style="text-align: justify;">Also, Jayaram Bhari, Chairman of Baglung Chamber of Commerce and Industry, inaugurated the ATM counter located near the newly opened Global IME branch office. The bank is providing financial services through 91 branches, 96 ATMs, 10 revenue collection counters, six extension counters and 40 branchless service centers. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3417', 'image' => '20160522014233_gl.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3582', 'article_category_id' => '1', 'title' => 'Khani Khola Hydro Power to Issue IPO from May 29', 'sub_title' => '', 'summary' => 'May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.', 'content' => '<p style="text-align:justify">May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.</p> <p style="text-align:justify">The company has appointed Civil Capital Market as Issue Manager for the issuance. Share purchase application for the IPO can be submitted from Dhumbarahi Party Palace, Civil Capital Market at Kamaladi, Civil Bank’s branches at Pokhara, Butwal, Birtamod, Nepalgunj, Hetauda, Itahari, Dhangadi and Bagmati Development Bank at Hariban.</p> <p style="text-align:justify">The company’s paid up capital will increase to Rs 465.7 million after the issuance. Under the project, the company will generate 4.36 MW of electricity from Thosne Khola and 2 MW electricity from Lalitpur Bhattedadan as it’s cascade project. These both projects are under ownership of Pashupati Energy Development Company.</p> <p style="text-align:justify">Meanwhile, power purchase agreements (PPA) of electricity generated from both projects have been concluded between the company and Nepal Electricity Authority (NEA). According to the PPA, NEA will pay Rs 4.80 per unit in rainy season and Rs 8.40 per unit in dry season which will increase by 3 percent till five years.</p> <p style="text-align:justify">The IPO has received grade four plus rating from ICRA Nepal which indicates of below average fundamentals to the proposed IPO. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3416', 'image' => '20160522013226_khani.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3581', 'article_category_id' => '1', 'title' => 'NRB and NIC Direct BFIs to Recruit Information Officers', 'sub_title' => '', 'summary' => 'May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.', 'content' => '<p style="text-align:justify"> <img alt="" src="/userfiles/images/nic.JPG" style="height:100px; width:680px" /></p> <p style="text-align:justify">May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.</p> <p style="text-align:justify">“NRB has not set constraint on deposit collection by BFIs; therefore BFIs should also be attentive towards answerability,” stressed Dr Nepal. He pointed out “Due to failure of BFIs in flowing information, refinancing facility with 1 percent interest rate provided for people of far western regions have not yield any significant result. Similarly, loan with 6 percent interest rate provided with interest subsidies to farmers of all regions have not increased. You have given more information than other sectors. But it is your duty to flow information on such loans, not ours.”</p> <p style="text-align:justify">Meanwhile, NIC blamed BIFs of not keeping written record of information issued and not informing customers when their accounts get blocked by Commission for the Investigation of Abuse of Authority (CIAA). NCI also blamed BIFs of not giving adequate information while issuing LC. The commission reminded BFIs of the provision on issuing notices in at least 20 headings in every three months. Although, the program was attended by NRB, the direct regulator of BFIs, regulators that control BFIs in secondary stage like Securities Board of Nepal and Nepal Stock Exchange were missing. Therefore, problems in information flow from listed financial institutions could not be addressed. Particularly, NEPSE has directed listed companies of issuing timely information regarding big purchases to dividend distribution. However, many institutions do not provide timely information so that to manipulate stock in the market till date. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3415', 'image' => '20160522121007_nrb.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3580', 'article_category_id' => '1', 'title' => 'Govt Says no to Multiple VAT Rates', 'sub_title' => '', 'summary' => 'May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions.', 'content' => '<p style="text-align:justify"><span style="font-size:13pt">May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Pashupati Murarka, President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) says that government should address private sectors’ demand by implementing multiple rates system in VAT from upcoming FY. He says, “Rate should be set as per the goods. All goods should not be rated equivalent. Our goods should be able to compete with foreign goods.” Additionally, he advised to continue VAT refund policy in raw materials of Ghee, Plain Flour, Oil, Mobile and other industrial production. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Similarly, Confederation of Nepalese Industries (CNI) has demanded the government to reduce VAT rate to 10 percent from coming FY. Moreover, Hari Bhakta Sharma, President of CNI suggests government to continue VAT subsidies in mobile, edible oil, flour and educational items. He says, “If government wants to provide facilities to industrialists and entrepreneurs, the government should provide VAT exemption in such essential goods. Furthermore, tax payer should be able to pay tax through one door system.” He demands of Rs 5 million threshold in VAT for service sector. According to Value Added Tax Act 2054, industrialists and entrepreneurs having turnover of Rs 2 million for trading sector and of Rs 1 million for service sector are required to register in VAT. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Additionally, CNI demands of increasing tax limit for personal and couples’ income as per income tax Act 2058, as price inflation has heighten in recent time. The confederation has recommended limiting taxable income of Rs 400,000 for a person and Rs 600,000 for a couple. The government might show flexibility in this regard. According to Financial Act 2072, individual earning Rs 250,000 and couples earning Rs 300,000 annually from employment will be exempted from tax. Natural person and couples earning such income are required to pay one percent social security tax only. “Tax payer who has paid capital gain tax, if failed to submit income statement then the capital gain tax should be documented as tax,” he suggested. </span></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3414', 'image' => '20160520082600_vat.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 8 => array( 'Article' => array( 'id' => '3579', 'article_category_id' => '1', 'title' => 'Century Bank Appoints Civil Capital as Issue Manager ', 'sub_title' => '', 'summary' => 'May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, ', 'content' => '<p>May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, therefore the bank is planning to submit memorandum for the issuance in SEBON shortly. The bank has informed in its press release that upon SEBON and regulatory body approval, right shares will be issued within mid-July. </p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3413', 'image' => '20160520035043_Clipboard05.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 9 => array( 'Article' => array( 'id' => '3578', 'article_category_id' => '1', 'title' => 'TVS Zest in Nepali Market', 'sub_title' => '', 'summary' => 'May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.', 'content' => '<p>May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.</p> <p>The company informs that Zest has got women-friendly design and precise finishing. The scooty comes with 110 CC engine capacity and Skid Steer Tubeless Tyres in both front and back. The market price of TVS Zest scooty is Rs 159,900.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3412', 'image' => '20160520035000_Clipboard03.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '3577', 'article_category_id' => '1', 'title' => 'Samsung Digital Plaza in Dhangadi', 'sub_title' => '', 'summary' => ' May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.', 'content' => '<p style="text-align: justify;">May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3411', 'image' => '20160520011901_sam.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3576', 'article_category_id' => '1', 'title' => 'NBI Concludes Human Resource Workshop', 'sub_title' => '', 'summary' => ' May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund. In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.', 'content' => '<p style="text-align:justify">May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund.</p> <p style="text-align:justify">In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3410', 'image' => '20160520010331_nbi.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3575', 'article_category_id' => '1', 'title' => 'NEPSE Reached Yet Another Highest Point', 'sub_title' => 'NEPSE Index Above 1,500 in Intraday Trading', 'summary' => 'May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.', 'content' => '<p style="text-align:justify">May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.</p> <p style="text-align:justify">According to the sources, the present expansion of market could be attributed to CDS and Clearing Limited (CDSC). “After many years of initiation, mandatory D-mat trading has started this year. Currently, investors do not need to wait for months for share trading and receive money. In third day of transaction, investors receive share and money,” Narendra Raj Sijapati, former Chairman of Brokers’ Association says. While CDSC plays a dormant part in increase of NEPSE, it has direct support in growth of share trading.</p> <p style="text-align:justify">“Investors re- invest the money in the market as soon as they receive their money back after share trading. Therefore, CDSC not only helps in share trading but also helps to increase NEPSE index indirectly,” says an analyst. As investors are being attuned towards the mechanism, trading in the share market is increasing.</p> <p style="text-align:justify">Mandatory D-mat trading was started in last January selecting companies in instalments. Since last April 27, trading of physical share certificate has closed completely. Since then, size of the market has increased significantly. The trading amount which used to total Rs 500 million daily one year ago has increased to Rs 1 billion daily at present. This has contributed in growth of investors’ assets to Rs 1600billion.</p> <p style="text-align:justify">Excess liquidity in the market has also contributed in increase of NEPSE index. “Presently, investors are getting loans at 6.5 percent interest rate on share collateral. Those who did not issued such loans in past are expanding their investment in the market aggressively,” says Sijapati. According to the Nepal Rastra Bank’s nine months data, banks and financial institutions (BFIs) have invested more than Rs 35 billion loan in the review period of current FY. Although market had witnessed tight liquidity some time ago, investors are getting easy loan due to excess liquidity at the moment. As BFIs are in the process of paid-up capital increment and also there are rumours of paid-up capital increment of insurance and microfinance companies, market price of these companies are rising significantly.</p> <p style="text-align:justify">Meanwhile, a tool of technical analysis, RSI indicator, shows market in Neutral zone (scale 68) and balanced share transactions. Whereas, AD ratio of overall transactions of Thursday shows bullish trend in the market. </p> <p style="text-align:justify"><img alt="" src="/userfiles/images/20160519071612_chart.jpeg" style="height:400px; width:600px" /></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3409', 'image' => '20160520120438_20160512122349_nepse.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3574', 'article_category_id' => '1', 'title' => 'Foreign Employment Information Now in Mobile Apps', 'sub_title' => '', 'summary' => 'May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.', 'content' => '<p style="text-align:justify">May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.</p> <p style="text-align:justify"> ‘Subhayatra’ app has been created by NRNA with the coordination of The Asia Foundation and Young Innovation. The app provides various information to foreign job aspirants as well as labour already working aboard. The app includes information regarding culture of respective country, law and rights of employees, work permit, application process, Dos and Don’ts while working in abroad and information items related to woman labours.</p> <p style="text-align:justify"> Currently, the app comprises information on the prime destinations of Nepali labours; Malaysia, Saudi Arab and Qatar. The app that can be easily downloaded in android phones also facilitates information through audio and video formats for illiterate labours. Similarly, the information can be seen offline also after downloading the information from the app. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '3408', 'image' => '20160519045353_for.jpg', 'article_date' => '2016-05-19 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3573', 'article_category_id' => '1', 'title' => 'Agreement between Sakchyam and NIBL', 'sub_title' => '', 'summary' => 'May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. ', 'content' => '<p style="text-align:justify">May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. </p> <p style="text-align:justify">It has been informed that NIBL is the first private sector commercial bank to provide financial services in Nagma of Kalikot. With the financial support of Sakchyam, various commercial banks are starting 414 branchless banking units in 14 earthquake affected districts and mid and far western regions. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3407', 'image' => '20160519041046_sak.jpg', 'article_date' => '2016-05-19 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' => '3587', 'article_category_id' => '1', 'title' => '"Ncell, Lastai Thulo Offer" Publicized', 'sub_title' => '', 'summary' => 'May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and more.', 'content' => '<p style="text-align: justify;">May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and more.</p> <p style="text-align: justify;">The company in its press release informs that the scheme is applicable for prepaid customers only to be effect from May 23 to August 20. Under the scheme, on recharge of Rs 200 customer will get Rs 100 bonus with validity of 5 days. Similarly, on recharge of Rs 300 customer will get Rs 200 bonus with validity of 7 days and on recharge of Rs 500 customer will get Rs 400 bonus with validity of 10 days. Likewise, on recharge of Rs 1,000 customer will get Rs 1,000 bonus with validity of 14 days.</p> <p style="text-align: justify;">“We care our customers and keeping them happy to enhance customer experience has always been our main priority,” said Milan Sharma, Corporate Communications Expert of Ncell.</p> <p style="text-align: justify;">The press release states that bonus received under this scheme can be used in making calls, SMS within Ncell network and using data service. The recharge bonus scheme is valid for all recharge done through recharge card, virtual fund transfer (VFT) and e-top up whereas pre-paid to pre-paid balance transfer will not be applicable.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3421', 'image' => '20160522052734_ncell.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3586', 'article_category_id' => '1', 'title' => 'Garima Bikas Bank Opens Branch at Samakhushi', 'sub_title' => '', 'summary' => 'May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28th branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday.', 'content' => '<p style="text-align: justify;">May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28<sup>th</sup> branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday. Speaking at the program, Govinda Prasad Dhakal, CEO of the bank said that Garima Bikas Bank aims to become best among all development banks in the country. “The bank has already merged with Nilgiri Bikas Bank and the merger with Suvekshya Bikas Bank will be finalized soon,” he informed. The bank got approval from Nepal Rastra Bank for financial service in three districts in 2064 B.S, has been able to be established itself as a national level development bank.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3420', 'image' => '20160522050249_garima.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3585', 'article_category_id' => '1', 'title' => 'FDI Declined 81 Percent in Industrial Sector', 'sub_title' => '', 'summary' => 'May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.', 'content' => '<p style="text-align: justify;">May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.</p> <p style="text-align: justify;">According to the statistics of Department of Industries (DOI), foreign investment commitment of Rs 12.56 billion has been approached in large, medium and small industries during the one year from 2015 mid-May to 2016 mid-April. The foreign investment commitment was of Rs 66.78 billion in the same period of previous FY. It shows that foreign investment commitment has lessened by Rs 54.22 billion in the last year in compare to previous FY. The FDI has decreased as registration of industries was comparatively low during the last year.</p> <p style="text-align: justify;">During the previous FY, FDI worth Rs 58.15 billion for 14 large industries, Rs 3.75 billion for middle industries and 4.85 billion for small industries were approached. In the last period, although 10 large industries have been registered, FDI of Rs 4.77 billion has been approached. Similarly, Rs 1.75 billion FDI has been approached for 22 middle industries and Rs 6.04 billion has been approached for 314 small industries.</p> <p style="text-align: justify;">“Due to the year- long effect of the devastating earthquake and the border blockade, investment commitment has significantly declined,” says Rudra Bahadur Malla, Spokesperson of DOI. He believed that coming year will be stimulating in terms of foreign investment. “Foreign investment are being facilitated and promoted through online mechanism. Additionally, planning is underway to establish separate experts’ desk with the aim of providing consulting services to foreign investors.”</p> <p style="text-align: justify;">According to Spokesperson Malla, DOI will finance the expenses of consultation services regarding industries and businesses provided by liberal experts. DOI informs that total of 3,535 projects have been registered under foreign investment so far. The projects have committed to provide 212,000 employments in the country. Till date, foreign investment from 83 various countries are entering in Nepal. </p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/datqa.JPG" style="height:215px; width:680px" /></p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3419', 'image' => '20160522032902_doi.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3584', 'article_category_id' => '1', 'title' => 'Nepal Life to Distribute 26 percent Bonus Shares', 'sub_title' => '', 'summary' => 'May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share distribution.', 'content' => '<h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16<sup>th</sup> annual general meeting held in Birgunj approved the proposal of bonus share distribution.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">The AGM concluded on Friday, May 20 also decided to issue FPO (Follow on Public Offering) which is necessary to maintain the ownership of promoter and public shares in the ratio 70:30 on its paid-up capital after the distribution of bonus shares. After the FPO, the company’s paid-up capital will be Rs 2.47 billion.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">Shareholders in the AGM were informed that Nepal Life Insurance Company has collected Rs 8.9 billion in insurance premiums out of the total collection of Rs 28.83 billion by the country’s insurance sector in the review year. According to the company, the premium collection has led to the company achieving around 33 percent of the market share.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">As per the company, it has been successful in maintaining 8.27 average yield of the total investment even during the adverse situation. </span></span></h3> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3418', 'image' => '20160522014513_lic.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3583', 'article_category_id' => '1', 'title' => 'Global IME Bank in Galkot', 'sub_title' => '', 'summary' => 'May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.', 'content' => '<p style="text-align: justify;">May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.</p> <p style="text-align: justify;">Also, Jayaram Bhari, Chairman of Baglung Chamber of Commerce and Industry, inaugurated the ATM counter located near the newly opened Global IME branch office. The bank is providing financial services through 91 branches, 96 ATMs, 10 revenue collection counters, six extension counters and 40 branchless service centers. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3417', 'image' => '20160522014233_gl.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3582', 'article_category_id' => '1', 'title' => 'Khani Khola Hydro Power to Issue IPO from May 29', 'sub_title' => '', 'summary' => 'May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.', 'content' => '<p style="text-align:justify">May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.</p> <p style="text-align:justify">The company has appointed Civil Capital Market as Issue Manager for the issuance. Share purchase application for the IPO can be submitted from Dhumbarahi Party Palace, Civil Capital Market at Kamaladi, Civil Bank’s branches at Pokhara, Butwal, Birtamod, Nepalgunj, Hetauda, Itahari, Dhangadi and Bagmati Development Bank at Hariban.</p> <p style="text-align:justify">The company’s paid up capital will increase to Rs 465.7 million after the issuance. Under the project, the company will generate 4.36 MW of electricity from Thosne Khola and 2 MW electricity from Lalitpur Bhattedadan as it’s cascade project. These both projects are under ownership of Pashupati Energy Development Company.</p> <p style="text-align:justify">Meanwhile, power purchase agreements (PPA) of electricity generated from both projects have been concluded between the company and Nepal Electricity Authority (NEA). According to the PPA, NEA will pay Rs 4.80 per unit in rainy season and Rs 8.40 per unit in dry season which will increase by 3 percent till five years.</p> <p style="text-align:justify">The IPO has received grade four plus rating from ICRA Nepal which indicates of below average fundamentals to the proposed IPO. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3416', 'image' => '20160522013226_khani.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3581', 'article_category_id' => '1', 'title' => 'NRB and NIC Direct BFIs to Recruit Information Officers', 'sub_title' => '', 'summary' => 'May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.', 'content' => '<p style="text-align:justify"> <img alt="" src="/userfiles/images/nic.JPG" style="height:100px; width:680px" /></p> <p style="text-align:justify">May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.</p> <p style="text-align:justify">“NRB has not set constraint on deposit collection by BFIs; therefore BFIs should also be attentive towards answerability,” stressed Dr Nepal. He pointed out “Due to failure of BFIs in flowing information, refinancing facility with 1 percent interest rate provided for people of far western regions have not yield any significant result. Similarly, loan with 6 percent interest rate provided with interest subsidies to farmers of all regions have not increased. You have given more information than other sectors. But it is your duty to flow information on such loans, not ours.”</p> <p style="text-align:justify">Meanwhile, NIC blamed BIFs of not keeping written record of information issued and not informing customers when their accounts get blocked by Commission for the Investigation of Abuse of Authority (CIAA). NCI also blamed BIFs of not giving adequate information while issuing LC. The commission reminded BFIs of the provision on issuing notices in at least 20 headings in every three months. Although, the program was attended by NRB, the direct regulator of BFIs, regulators that control BFIs in secondary stage like Securities Board of Nepal and Nepal Stock Exchange were missing. Therefore, problems in information flow from listed financial institutions could not be addressed. Particularly, NEPSE has directed listed companies of issuing timely information regarding big purchases to dividend distribution. However, many institutions do not provide timely information so that to manipulate stock in the market till date. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3415', 'image' => '20160522121007_nrb.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3580', 'article_category_id' => '1', 'title' => 'Govt Says no to Multiple VAT Rates', 'sub_title' => '', 'summary' => 'May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions.', 'content' => '<p style="text-align:justify"><span style="font-size:13pt">May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Pashupati Murarka, President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) says that government should address private sectors’ demand by implementing multiple rates system in VAT from upcoming FY. He says, “Rate should be set as per the goods. All goods should not be rated equivalent. Our goods should be able to compete with foreign goods.” Additionally, he advised to continue VAT refund policy in raw materials of Ghee, Plain Flour, Oil, Mobile and other industrial production. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Similarly, Confederation of Nepalese Industries (CNI) has demanded the government to reduce VAT rate to 10 percent from coming FY. Moreover, Hari Bhakta Sharma, President of CNI suggests government to continue VAT subsidies in mobile, edible oil, flour and educational items. He says, “If government wants to provide facilities to industrialists and entrepreneurs, the government should provide VAT exemption in such essential goods. Furthermore, tax payer should be able to pay tax through one door system.” He demands of Rs 5 million threshold in VAT for service sector. According to Value Added Tax Act 2054, industrialists and entrepreneurs having turnover of Rs 2 million for trading sector and of Rs 1 million for service sector are required to register in VAT. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Additionally, CNI demands of increasing tax limit for personal and couples’ income as per income tax Act 2058, as price inflation has heighten in recent time. The confederation has recommended limiting taxable income of Rs 400,000 for a person and Rs 600,000 for a couple. The government might show flexibility in this regard. According to Financial Act 2072, individual earning Rs 250,000 and couples earning Rs 300,000 annually from employment will be exempted from tax. Natural person and couples earning such income are required to pay one percent social security tax only. “Tax payer who has paid capital gain tax, if failed to submit income statement then the capital gain tax should be documented as tax,” he suggested. </span></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3414', 'image' => '20160520082600_vat.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 8 => array( 'Article' => array( 'id' => '3579', 'article_category_id' => '1', 'title' => 'Century Bank Appoints Civil Capital as Issue Manager ', 'sub_title' => '', 'summary' => 'May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, ', 'content' => '<p>May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, therefore the bank is planning to submit memorandum for the issuance in SEBON shortly. The bank has informed in its press release that upon SEBON and regulatory body approval, right shares will be issued within mid-July. </p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3413', 'image' => '20160520035043_Clipboard05.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 9 => array( 'Article' => array( 'id' => '3578', 'article_category_id' => '1', 'title' => 'TVS Zest in Nepali Market', 'sub_title' => '', 'summary' => 'May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.', 'content' => '<p>May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.</p> <p>The company informs that Zest has got women-friendly design and precise finishing. The scooty comes with 110 CC engine capacity and Skid Steer Tubeless Tyres in both front and back. The market price of TVS Zest scooty is Rs 159,900.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3412', 'image' => '20160520035000_Clipboard03.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '3577', 'article_category_id' => '1', 'title' => 'Samsung Digital Plaza in Dhangadi', 'sub_title' => '', 'summary' => ' May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.', 'content' => '<p style="text-align: justify;">May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3411', 'image' => '20160520011901_sam.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3576', 'article_category_id' => '1', 'title' => 'NBI Concludes Human Resource Workshop', 'sub_title' => '', 'summary' => ' May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund. In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.', 'content' => '<p style="text-align:justify">May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund.</p> <p style="text-align:justify">In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3410', 'image' => '20160520010331_nbi.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3575', 'article_category_id' => '1', 'title' => 'NEPSE Reached Yet Another Highest Point', 'sub_title' => 'NEPSE Index Above 1,500 in Intraday Trading', 'summary' => 'May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.', 'content' => '<p style="text-align:justify">May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.</p> <p style="text-align:justify">According to the sources, the present expansion of market could be attributed to CDS and Clearing Limited (CDSC). “After many years of initiation, mandatory D-mat trading has started this year. Currently, investors do not need to wait for months for share trading and receive money. In third day of transaction, investors receive share and money,” Narendra Raj Sijapati, former Chairman of Brokers’ Association says. While CDSC plays a dormant part in increase of NEPSE, it has direct support in growth of share trading.</p> <p style="text-align:justify">“Investors re- invest the money in the market as soon as they receive their money back after share trading. Therefore, CDSC not only helps in share trading but also helps to increase NEPSE index indirectly,” says an analyst. As investors are being attuned towards the mechanism, trading in the share market is increasing.</p> <p style="text-align:justify">Mandatory D-mat trading was started in last January selecting companies in instalments. Since last April 27, trading of physical share certificate has closed completely. Since then, size of the market has increased significantly. The trading amount which used to total Rs 500 million daily one year ago has increased to Rs 1 billion daily at present. This has contributed in growth of investors’ assets to Rs 1600billion.</p> <p style="text-align:justify">Excess liquidity in the market has also contributed in increase of NEPSE index. “Presently, investors are getting loans at 6.5 percent interest rate on share collateral. Those who did not issued such loans in past are expanding their investment in the market aggressively,” says Sijapati. According to the Nepal Rastra Bank’s nine months data, banks and financial institutions (BFIs) have invested more than Rs 35 billion loan in the review period of current FY. Although market had witnessed tight liquidity some time ago, investors are getting easy loan due to excess liquidity at the moment. As BFIs are in the process of paid-up capital increment and also there are rumours of paid-up capital increment of insurance and microfinance companies, market price of these companies are rising significantly.</p> <p style="text-align:justify">Meanwhile, a tool of technical analysis, RSI indicator, shows market in Neutral zone (scale 68) and balanced share transactions. Whereas, AD ratio of overall transactions of Thursday shows bullish trend in the market. </p> <p style="text-align:justify"><img alt="" src="/userfiles/images/20160519071612_chart.jpeg" style="height:400px; width:600px" /></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3409', 'image' => '20160520120438_20160512122349_nepse.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3574', 'article_category_id' => '1', 'title' => 'Foreign Employment Information Now in Mobile Apps', 'sub_title' => '', 'summary' => 'May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.', 'content' => '<p style="text-align:justify">May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.</p> <p style="text-align:justify"> ‘Subhayatra’ app has been created by NRNA with the coordination of The Asia Foundation and Young Innovation. The app provides various information to foreign job aspirants as well as labour already working aboard. The app includes information regarding culture of respective country, law and rights of employees, work permit, application process, Dos and Don’ts while working in abroad and information items related to woman labours.</p> <p style="text-align:justify"> Currently, the app comprises information on the prime destinations of Nepali labours; Malaysia, Saudi Arab and Qatar. The app that can be easily downloaded in android phones also facilitates information through audio and video formats for illiterate labours. Similarly, the information can be seen offline also after downloading the information from the app. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '3408', 'image' => '20160519045353_for.jpg', 'article_date' => '2016-05-19 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3573', 'article_category_id' => '1', 'title' => 'Agreement between Sakchyam and NIBL', 'sub_title' => '', 'summary' => 'May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. ', 'content' => '<p style="text-align:justify">May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. </p> <p style="text-align:justify">It has been informed that NIBL is the first private sector commercial bank to provide financial services in Nagma of Kalikot. With the financial support of Sakchyam, various commercial banks are starting 414 branchless banking units in 14 earthquake affected districts and mid and far western regions. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3407', 'image' => '20160519041046_sak.jpg', 'article_date' => '2016-05-19 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' => '3587', 'article_category_id' => '1', 'title' => '"Ncell, Lastai Thulo Offer" Publicized', 'sub_title' => '', 'summary' => 'May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and more.', 'content' => '<p style="text-align: justify;">May 22: Ncell, has introduced a new recharge scheme ‘Ncell, Lastai Thulo Offer’ that enables customers to enjoy attractive bonus ranging from Rs 100-1,000 on recharge of Rs 200 and more.</p> <p style="text-align: justify;">The company in its press release informs that the scheme is applicable for prepaid customers only to be effect from May 23 to August 20. Under the scheme, on recharge of Rs 200 customer will get Rs 100 bonus with validity of 5 days. Similarly, on recharge of Rs 300 customer will get Rs 200 bonus with validity of 7 days and on recharge of Rs 500 customer will get Rs 400 bonus with validity of 10 days. Likewise, on recharge of Rs 1,000 customer will get Rs 1,000 bonus with validity of 14 days.</p> <p style="text-align: justify;">“We care our customers and keeping them happy to enhance customer experience has always been our main priority,” said Milan Sharma, Corporate Communications Expert of Ncell.</p> <p style="text-align: justify;">The press release states that bonus received under this scheme can be used in making calls, SMS within Ncell network and using data service. The recharge bonus scheme is valid for all recharge done through recharge card, virtual fund transfer (VFT) and e-top up whereas pre-paid to pre-paid balance transfer will not be applicable.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3421', 'image' => '20160522052734_ncell.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3586', 'article_category_id' => '1', 'title' => 'Garima Bikas Bank Opens Branch at Samakhushi', 'sub_title' => '', 'summary' => 'May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28th branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday.', 'content' => '<p style="text-align: justify;">May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28<sup>th</sup> branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday. Speaking at the program, Govinda Prasad Dhakal, CEO of the bank said that Garima Bikas Bank aims to become best among all development banks in the country. “The bank has already merged with Nilgiri Bikas Bank and the merger with Suvekshya Bikas Bank will be finalized soon,” he informed. The bank got approval from Nepal Rastra Bank for financial service in three districts in 2064 B.S, has been able to be established itself as a national level development bank.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3420', 'image' => '20160522050249_garima.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3585', 'article_category_id' => '1', 'title' => 'FDI Declined 81 Percent in Industrial Sector', 'sub_title' => '', 'summary' => 'May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.', 'content' => '<p style="text-align: justify;">May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.</p> <p style="text-align: justify;">According to the statistics of Department of Industries (DOI), foreign investment commitment of Rs 12.56 billion has been approached in large, medium and small industries during the one year from 2015 mid-May to 2016 mid-April. The foreign investment commitment was of Rs 66.78 billion in the same period of previous FY. It shows that foreign investment commitment has lessened by Rs 54.22 billion in the last year in compare to previous FY. The FDI has decreased as registration of industries was comparatively low during the last year.</p> <p style="text-align: justify;">During the previous FY, FDI worth Rs 58.15 billion for 14 large industries, Rs 3.75 billion for middle industries and 4.85 billion for small industries were approached. In the last period, although 10 large industries have been registered, FDI of Rs 4.77 billion has been approached. Similarly, Rs 1.75 billion FDI has been approached for 22 middle industries and Rs 6.04 billion has been approached for 314 small industries.</p> <p style="text-align: justify;">“Due to the year- long effect of the devastating earthquake and the border blockade, investment commitment has significantly declined,” says Rudra Bahadur Malla, Spokesperson of DOI. He believed that coming year will be stimulating in terms of foreign investment. “Foreign investment are being facilitated and promoted through online mechanism. Additionally, planning is underway to establish separate experts’ desk with the aim of providing consulting services to foreign investors.”</p> <p style="text-align: justify;">According to Spokesperson Malla, DOI will finance the expenses of consultation services regarding industries and businesses provided by liberal experts. DOI informs that total of 3,535 projects have been registered under foreign investment so far. The projects have committed to provide 212,000 employments in the country. Till date, foreign investment from 83 various countries are entering in Nepal. </p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/datqa.JPG" style="height:215px; width:680px" /></p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3419', 'image' => '20160522032902_doi.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3584', 'article_category_id' => '1', 'title' => 'Nepal Life to Distribute 26 percent Bonus Shares', 'sub_title' => '', 'summary' => 'May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share distribution.', 'content' => '<h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16<sup>th</sup> annual general meeting held in Birgunj approved the proposal of bonus share distribution.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">The AGM concluded on Friday, May 20 also decided to issue FPO (Follow on Public Offering) which is necessary to maintain the ownership of promoter and public shares in the ratio 70:30 on its paid-up capital after the distribution of bonus shares. After the FPO, the company’s paid-up capital will be Rs 2.47 billion.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">Shareholders in the AGM were informed that Nepal Life Insurance Company has collected Rs 8.9 billion in insurance premiums out of the total collection of Rs 28.83 billion by the country’s insurance sector in the review year. According to the company, the premium collection has led to the company achieving around 33 percent of the market share.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">As per the company, it has been successful in maintaining 8.27 average yield of the total investment even during the adverse situation. </span></span></h3> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3418', 'image' => '20160522014513_lic.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3583', 'article_category_id' => '1', 'title' => 'Global IME Bank in Galkot', 'sub_title' => '', 'summary' => 'May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.', 'content' => '<p style="text-align: justify;">May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.</p> <p style="text-align: justify;">Also, Jayaram Bhari, Chairman of Baglung Chamber of Commerce and Industry, inaugurated the ATM counter located near the newly opened Global IME branch office. The bank is providing financial services through 91 branches, 96 ATMs, 10 revenue collection counters, six extension counters and 40 branchless service centers. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3417', 'image' => '20160522014233_gl.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3582', 'article_category_id' => '1', 'title' => 'Khani Khola Hydro Power to Issue IPO from May 29', 'sub_title' => '', 'summary' => 'May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.', 'content' => '<p style="text-align:justify">May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.</p> <p style="text-align:justify">The company has appointed Civil Capital Market as Issue Manager for the issuance. Share purchase application for the IPO can be submitted from Dhumbarahi Party Palace, Civil Capital Market at Kamaladi, Civil Bank’s branches at Pokhara, Butwal, Birtamod, Nepalgunj, Hetauda, Itahari, Dhangadi and Bagmati Development Bank at Hariban.</p> <p style="text-align:justify">The company’s paid up capital will increase to Rs 465.7 million after the issuance. Under the project, the company will generate 4.36 MW of electricity from Thosne Khola and 2 MW electricity from Lalitpur Bhattedadan as it’s cascade project. These both projects are under ownership of Pashupati Energy Development Company.</p> <p style="text-align:justify">Meanwhile, power purchase agreements (PPA) of electricity generated from both projects have been concluded between the company and Nepal Electricity Authority (NEA). According to the PPA, NEA will pay Rs 4.80 per unit in rainy season and Rs 8.40 per unit in dry season which will increase by 3 percent till five years.</p> <p style="text-align:justify">The IPO has received grade four plus rating from ICRA Nepal which indicates of below average fundamentals to the proposed IPO. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3416', 'image' => '20160522013226_khani.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3581', 'article_category_id' => '1', 'title' => 'NRB and NIC Direct BFIs to Recruit Information Officers', 'sub_title' => '', 'summary' => 'May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.', 'content' => '<p style="text-align:justify"> <img alt="" src="/userfiles/images/nic.JPG" style="height:100px; width:680px" /></p> <p style="text-align:justify">May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.</p> <p style="text-align:justify">“NRB has not set constraint on deposit collection by BFIs; therefore BFIs should also be attentive towards answerability,” stressed Dr Nepal. He pointed out “Due to failure of BFIs in flowing information, refinancing facility with 1 percent interest rate provided for people of far western regions have not yield any significant result. Similarly, loan with 6 percent interest rate provided with interest subsidies to farmers of all regions have not increased. You have given more information than other sectors. But it is your duty to flow information on such loans, not ours.”</p> <p style="text-align:justify">Meanwhile, NIC blamed BIFs of not keeping written record of information issued and not informing customers when their accounts get blocked by Commission for the Investigation of Abuse of Authority (CIAA). NCI also blamed BIFs of not giving adequate information while issuing LC. The commission reminded BFIs of the provision on issuing notices in at least 20 headings in every three months. Although, the program was attended by NRB, the direct regulator of BFIs, regulators that control BFIs in secondary stage like Securities Board of Nepal and Nepal Stock Exchange were missing. Therefore, problems in information flow from listed financial institutions could not be addressed. Particularly, NEPSE has directed listed companies of issuing timely information regarding big purchases to dividend distribution. However, many institutions do not provide timely information so that to manipulate stock in the market till date. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3415', 'image' => '20160522121007_nrb.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3580', 'article_category_id' => '1', 'title' => 'Govt Says no to Multiple VAT Rates', 'sub_title' => '', 'summary' => 'May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions.', 'content' => '<p style="text-align:justify"><span style="font-size:13pt">May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Pashupati Murarka, President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) says that government should address private sectors’ demand by implementing multiple rates system in VAT from upcoming FY. He says, “Rate should be set as per the goods. All goods should not be rated equivalent. Our goods should be able to compete with foreign goods.” Additionally, he advised to continue VAT refund policy in raw materials of Ghee, Plain Flour, Oil, Mobile and other industrial production. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Similarly, Confederation of Nepalese Industries (CNI) has demanded the government to reduce VAT rate to 10 percent from coming FY. Moreover, Hari Bhakta Sharma, President of CNI suggests government to continue VAT subsidies in mobile, edible oil, flour and educational items. He says, “If government wants to provide facilities to industrialists and entrepreneurs, the government should provide VAT exemption in such essential goods. Furthermore, tax payer should be able to pay tax through one door system.” He demands of Rs 5 million threshold in VAT for service sector. According to Value Added Tax Act 2054, industrialists and entrepreneurs having turnover of Rs 2 million for trading sector and of Rs 1 million for service sector are required to register in VAT. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Additionally, CNI demands of increasing tax limit for personal and couples’ income as per income tax Act 2058, as price inflation has heighten in recent time. The confederation has recommended limiting taxable income of Rs 400,000 for a person and Rs 600,000 for a couple. The government might show flexibility in this regard. According to Financial Act 2072, individual earning Rs 250,000 and couples earning Rs 300,000 annually from employment will be exempted from tax. Natural person and couples earning such income are required to pay one percent social security tax only. “Tax payer who has paid capital gain tax, if failed to submit income statement then the capital gain tax should be documented as tax,” he suggested. </span></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3414', 'image' => '20160520082600_vat.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 8 => array( 'Article' => array( 'id' => '3579', 'article_category_id' => '1', 'title' => 'Century Bank Appoints Civil Capital as Issue Manager ', 'sub_title' => '', 'summary' => 'May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, ', 'content' => '<p>May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, therefore the bank is planning to submit memorandum for the issuance in SEBON shortly. The bank has informed in its press release that upon SEBON and regulatory body approval, right shares will be issued within mid-July. </p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3413', 'image' => '20160520035043_Clipboard05.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 9 => array( 'Article' => array( 'id' => '3578', 'article_category_id' => '1', 'title' => 'TVS Zest in Nepali Market', 'sub_title' => '', 'summary' => 'May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.', 'content' => '<p>May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.</p> <p>The company informs that Zest has got women-friendly design and precise finishing. The scooty comes with 110 CC engine capacity and Skid Steer Tubeless Tyres in both front and back. The market price of TVS Zest scooty is Rs 159,900.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3412', 'image' => '20160520035000_Clipboard03.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '3577', 'article_category_id' => '1', 'title' => 'Samsung Digital Plaza in Dhangadi', 'sub_title' => '', 'summary' => ' May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.', 'content' => '<p style="text-align: justify;">May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3411', 'image' => '20160520011901_sam.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3576', 'article_category_id' => '1', 'title' => 'NBI Concludes Human Resource Workshop', 'sub_title' => '', 'summary' => ' May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund. In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.', 'content' => '<p style="text-align:justify">May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund.</p> <p style="text-align:justify">In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3410', 'image' => '20160520010331_nbi.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3575', 'article_category_id' => '1', 'title' => 'NEPSE Reached Yet Another Highest Point', 'sub_title' => 'NEPSE Index Above 1,500 in Intraday Trading', 'summary' => 'May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.', 'content' => '<p style="text-align:justify">May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.</p> <p style="text-align:justify">According to the sources, the present expansion of market could be attributed to CDS and Clearing Limited (CDSC). “After many years of initiation, mandatory D-mat trading has started this year. Currently, investors do not need to wait for months for share trading and receive money. In third day of transaction, investors receive share and money,” Narendra Raj Sijapati, former Chairman of Brokers’ Association says. While CDSC plays a dormant part in increase of NEPSE, it has direct support in growth of share trading.</p> <p style="text-align:justify">“Investors re- invest the money in the market as soon as they receive their money back after share trading. Therefore, CDSC not only helps in share trading but also helps to increase NEPSE index indirectly,” says an analyst. As investors are being attuned towards the mechanism, trading in the share market is increasing.</p> <p style="text-align:justify">Mandatory D-mat trading was started in last January selecting companies in instalments. Since last April 27, trading of physical share certificate has closed completely. Since then, size of the market has increased significantly. The trading amount which used to total Rs 500 million daily one year ago has increased to Rs 1 billion daily at present. This has contributed in growth of investors’ assets to Rs 1600billion.</p> <p style="text-align:justify">Excess liquidity in the market has also contributed in increase of NEPSE index. “Presently, investors are getting loans at 6.5 percent interest rate on share collateral. Those who did not issued such loans in past are expanding their investment in the market aggressively,” says Sijapati. According to the Nepal Rastra Bank’s nine months data, banks and financial institutions (BFIs) have invested more than Rs 35 billion loan in the review period of current FY. Although market had witnessed tight liquidity some time ago, investors are getting easy loan due to excess liquidity at the moment. As BFIs are in the process of paid-up capital increment and also there are rumours of paid-up capital increment of insurance and microfinance companies, market price of these companies are rising significantly.</p> <p style="text-align:justify">Meanwhile, a tool of technical analysis, RSI indicator, shows market in Neutral zone (scale 68) and balanced share transactions. Whereas, AD ratio of overall transactions of Thursday shows bullish trend in the market. </p> <p style="text-align:justify"><img alt="" src="/userfiles/images/20160519071612_chart.jpeg" style="height:400px; width:600px" /></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3409', 'image' => '20160520120438_20160512122349_nepse.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3574', 'article_category_id' => '1', 'title' => 'Foreign Employment Information Now in Mobile Apps', 'sub_title' => '', 'summary' => 'May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.', 'content' => '<p style="text-align:justify">May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.</p> <p style="text-align:justify"> ‘Subhayatra’ app has been created by NRNA with the coordination of The Asia Foundation and Young Innovation. The app provides various information to foreign job aspirants as well as labour already working aboard. The app includes information regarding culture of respective country, law and rights of employees, work permit, application process, Dos and Don’ts while working in abroad and information items related to woman labours.</p> <p style="text-align:justify"> Currently, the app comprises information on the prime destinations of Nepali labours; Malaysia, Saudi Arab and Qatar. The app that can be easily downloaded in android phones also facilitates information through audio and video formats for illiterate labours. Similarly, the information can be seen offline also after downloading the information from the app. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '3408', 'image' => '20160519045353_for.jpg', 'article_date' => '2016-05-19 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3573', 'article_category_id' => '1', 'title' => 'Agreement between Sakchyam and NIBL', 'sub_title' => '', 'summary' => 'May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. ', 'content' => '<p style="text-align:justify">May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. </p> <p style="text-align:justify">It has been informed that NIBL is the first private sector commercial bank to provide financial services in Nagma of Kalikot. With the financial support of Sakchyam, various commercial banks are starting 414 branchless banking units in 14 earthquake affected districts and mid and far western regions. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3407', 'image' => '20160519041046_sak.jpg', 'article_date' => '2016-05-19 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
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Under the scheme, on recharge of Rs 200 customer will get Rs 100 bonus with validity of 5 days. Similarly, on recharge of Rs 300 customer will get Rs 200 bonus with validity of 7 days and on recharge of Rs 500 customer will get Rs 400 bonus with validity of 10 days. Likewise, on recharge of Rs 1,000 customer will get Rs 1,000 bonus with validity of 14 days.</p> <p style="text-align: justify;">“We care our customers and keeping them happy to enhance customer experience has always been our main priority,” said Milan Sharma, Corporate Communications Expert of Ncell.</p> <p style="text-align: justify;">The press release states that bonus received under this scheme can be used in making calls, SMS within Ncell network and using data service. The recharge bonus scheme is valid for all recharge done through recharge card, virtual fund transfer (VFT) and e-top up whereas pre-paid to pre-paid balance transfer will not be applicable.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3421', 'image' => '20160522052734_ncell.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3586', 'article_category_id' => '1', 'title' => 'Garima Bikas Bank Opens Branch at Samakhushi', 'sub_title' => '', 'summary' => 'May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28th branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday.', 'content' => '<p style="text-align: justify;">May 22: The Pokhara-based Garima Bikas Bank has opened a new branch in the capital. The bank’s 28<sup>th</sup> branch has been opened at Samakhushi, Kathmandu. Narayan Prasad Poudel, Executive Director of Nepal Rastra Bank inaugurated the new branch amid a program on Friday. Speaking at the program, Govinda Prasad Dhakal, CEO of the bank said that Garima Bikas Bank aims to become best among all development banks in the country. “The bank has already merged with Nilgiri Bikas Bank and the merger with Suvekshya Bikas Bank will be finalized soon,” he informed. The bank got approval from Nepal Rastra Bank for financial service in three districts in 2064 B.S, has been able to be established itself as a national level development bank.</p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3420', 'image' => '20160522050249_garima.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3585', 'article_category_id' => '1', 'title' => 'FDI Declined 81 Percent in Industrial Sector', 'sub_title' => '', 'summary' => 'May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.', 'content' => '<p style="text-align: justify;">May 22: Foreign Direct Investment (FDI) has declined by 81.18 percent in industrial sector during the last one year. Due to the decline in investment commitment in large and medium scale industries as a result of the devastating earthquake of last year followed by Tarai unrest and the border blockade, FDI in industrial sector has declined significantly in compare to previous year.</p> <p style="text-align: justify;">According to the statistics of Department of Industries (DOI), foreign investment commitment of Rs 12.56 billion has been approached in large, medium and small industries during the one year from 2015 mid-May to 2016 mid-April. The foreign investment commitment was of Rs 66.78 billion in the same period of previous FY. It shows that foreign investment commitment has lessened by Rs 54.22 billion in the last year in compare to previous FY. The FDI has decreased as registration of industries was comparatively low during the last year.</p> <p style="text-align: justify;">During the previous FY, FDI worth Rs 58.15 billion for 14 large industries, Rs 3.75 billion for middle industries and 4.85 billion for small industries were approached. In the last period, although 10 large industries have been registered, FDI of Rs 4.77 billion has been approached. Similarly, Rs 1.75 billion FDI has been approached for 22 middle industries and Rs 6.04 billion has been approached for 314 small industries.</p> <p style="text-align: justify;">“Due to the year- long effect of the devastating earthquake and the border blockade, investment commitment has significantly declined,” says Rudra Bahadur Malla, Spokesperson of DOI. He believed that coming year will be stimulating in terms of foreign investment. “Foreign investment are being facilitated and promoted through online mechanism. Additionally, planning is underway to establish separate experts’ desk with the aim of providing consulting services to foreign investors.”</p> <p style="text-align: justify;">According to Spokesperson Malla, DOI will finance the expenses of consultation services regarding industries and businesses provided by liberal experts. DOI informs that total of 3,535 projects have been registered under foreign investment so far. The projects have committed to provide 212,000 employments in the country. Till date, foreign investment from 83 various countries are entering in Nepal. </p> <p style="text-align: justify;"><img alt="" src="/userfiles/images/datqa.JPG" style="height:215px; width:680px" /></p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3419', 'image' => '20160522032902_doi.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3584', 'article_category_id' => '1', 'title' => 'Nepal Life to Distribute 26 percent Bonus Shares', 'sub_title' => '', 'summary' => 'May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16th annual general meeting held in Birgunj approved the proposal of bonus share distribution.', 'content' => '<h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">May 22: Nepal Life Insurance Company will distribute 26.32 percent bonus shares of its paid-up capital. The company’s 16<sup>th</sup> annual general meeting held in Birgunj approved the proposal of bonus share distribution.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">The AGM concluded on Friday, May 20 also decided to issue FPO (Follow on Public Offering) which is necessary to maintain the ownership of promoter and public shares in the ratio 70:30 on its paid-up capital after the distribution of bonus shares. After the FPO, the company’s paid-up capital will be Rs 2.47 billion.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">Shareholders in the AGM were informed that Nepal Life Insurance Company has collected Rs 8.9 billion in insurance premiums out of the total collection of Rs 28.83 billion by the country’s insurance sector in the review year. According to the company, the premium collection has led to the company achieving around 33 percent of the market share.</span></span></h3> <h3 style="text-align:justify"><span style="font-size:16px"><span style="font-family:times new roman,times,serif">As per the company, it has been successful in maintaining 8.27 average yield of the total investment even during the adverse situation. </span></span></h3> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3418', 'image' => '20160522014513_lic.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3583', 'article_category_id' => '1', 'title' => 'Global IME Bank in Galkot', 'sub_title' => '', 'summary' => 'May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.', 'content' => '<p style="text-align: justify;">May 22: Global IME Bank has opened a branch in Galkot, Baglung. The branch was inaugurated by Shiva Raj Shrestha, Deputy Governor of Nepal Rastra Bank on May 20. Speaking at the opening ceremony, the bank’s Chairman Chandra Prasad Dhakal said that the motive to establish the branch is to support the economic development of Galkot area.</p> <p style="text-align: justify;">Also, Jayaram Bhari, Chairman of Baglung Chamber of Commerce and Industry, inaugurated the ATM counter located near the newly opened Global IME branch office. The bank is providing financial services through 91 branches, 96 ATMs, 10 revenue collection counters, six extension counters and 40 branchless service centers. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3417', 'image' => '20160522014233_gl.jpg', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3582', 'article_category_id' => '1', 'title' => 'Khani Khola Hydro Power to Issue IPO from May 29', 'sub_title' => '', 'summary' => 'May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.', 'content' => '<p style="text-align:justify">May 22: Khani Khola Hydro Power is issuing 4,657,000 units of shares at the price of Rs 100 from May 29. The issuance will close in June1 with possible closure in June 12. Interested investors can apply minimum of 10 units and maximum of 1,000 shares.</p> <p style="text-align:justify">The company has appointed Civil Capital Market as Issue Manager for the issuance. Share purchase application for the IPO can be submitted from Dhumbarahi Party Palace, Civil Capital Market at Kamaladi, Civil Bank’s branches at Pokhara, Butwal, Birtamod, Nepalgunj, Hetauda, Itahari, Dhangadi and Bagmati Development Bank at Hariban.</p> <p style="text-align:justify">The company’s paid up capital will increase to Rs 465.7 million after the issuance. Under the project, the company will generate 4.36 MW of electricity from Thosne Khola and 2 MW electricity from Lalitpur Bhattedadan as it’s cascade project. These both projects are under ownership of Pashupati Energy Development Company.</p> <p style="text-align:justify">Meanwhile, power purchase agreements (PPA) of electricity generated from both projects have been concluded between the company and Nepal Electricity Authority (NEA). According to the PPA, NEA will pay Rs 4.80 per unit in rainy season and Rs 8.40 per unit in dry season which will increase by 3 percent till five years.</p> <p style="text-align:justify">The IPO has received grade four plus rating from ICRA Nepal which indicates of below average fundamentals to the proposed IPO. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3416', 'image' => '20160522013226_khani.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3581', 'article_category_id' => '1', 'title' => 'NRB and NIC Direct BFIs to Recruit Information Officers', 'sub_title' => '', 'summary' => 'May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.', 'content' => '<p style="text-align:justify"> <img alt="" src="/userfiles/images/nic.JPG" style="height:100px; width:680px" /></p> <p style="text-align:justify">May 22: Nepal Rastra Bank (NRB) and National Information Commission (NIC) have directed banks and financial institutions (BFIs) to recruit information officers immediately. “We had already told you (BFIs) to recruit information officers in March 2014, give information in systematic way,” said Dr Chiranjibi Nepal, Governor of NRB. He readdressed the issue in a program organised in the capital on Friday to discuss implementation of information rights in banking sector.</p> <p style="text-align:justify">“NRB has not set constraint on deposit collection by BFIs; therefore BFIs should also be attentive towards answerability,” stressed Dr Nepal. He pointed out “Due to failure of BFIs in flowing information, refinancing facility with 1 percent interest rate provided for people of far western regions have not yield any significant result. Similarly, loan with 6 percent interest rate provided with interest subsidies to farmers of all regions have not increased. You have given more information than other sectors. But it is your duty to flow information on such loans, not ours.”</p> <p style="text-align:justify">Meanwhile, NIC blamed BIFs of not keeping written record of information issued and not informing customers when their accounts get blocked by Commission for the Investigation of Abuse of Authority (CIAA). NCI also blamed BIFs of not giving adequate information while issuing LC. The commission reminded BFIs of the provision on issuing notices in at least 20 headings in every three months. Although, the program was attended by NRB, the direct regulator of BFIs, regulators that control BFIs in secondary stage like Securities Board of Nepal and Nepal Stock Exchange were missing. Therefore, problems in information flow from listed financial institutions could not be addressed. Particularly, NEPSE has directed listed companies of issuing timely information regarding big purchases to dividend distribution. However, many institutions do not provide timely information so that to manipulate stock in the market till date. </p> ', 'published' => true, 'created' => '2016-05-22', 'modified' => '2016-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '3415', 'image' => '20160522121007_nrb.JPG', 'article_date' => '2016-05-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 7 => array( 'Article' => array( 'id' => '3580', 'article_category_id' => '1', 'title' => 'Govt Says no to Multiple VAT Rates', 'sub_title' => '', 'summary' => 'May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions.', 'content' => '<p style="text-align:justify"><span style="font-size:13pt">May 20: The government has decided not to implement multiple rates in Value Added Tax (VAT) in the upcoming fiscal year. “Multiple rates still need adequate study and research. The countries that have earlier implemented multiple rates are now adopting single rate. Thus multiple rates will not be implemented in VAT,” says Laxman Aryal Joint Secretary in Revenue Management Division for Ministry of Finance. In the recent years, umbrella organisations of various commercial associations along with industrialists and entrepreneurs were suggesting for multiple rates system in VAT. However, the government is preparing to formulate budget and revenue policies in its own terms neglecting private sectors’ demands and suggestions. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Pashupati Murarka, President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) says that government should address private sectors’ demand by implementing multiple rates system in VAT from upcoming FY. He says, “Rate should be set as per the goods. All goods should not be rated equivalent. Our goods should be able to compete with foreign goods.” Additionally, he advised to continue VAT refund policy in raw materials of Ghee, Plain Flour, Oil, Mobile and other industrial production. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Similarly, Confederation of Nepalese Industries (CNI) has demanded the government to reduce VAT rate to 10 percent from coming FY. Moreover, Hari Bhakta Sharma, President of CNI suggests government to continue VAT subsidies in mobile, edible oil, flour and educational items. He says, “If government wants to provide facilities to industrialists and entrepreneurs, the government should provide VAT exemption in such essential goods. Furthermore, tax payer should be able to pay tax through one door system.” He demands of Rs 5 million threshold in VAT for service sector. According to Value Added Tax Act 2054, industrialists and entrepreneurs having turnover of Rs 2 million for trading sector and of Rs 1 million for service sector are required to register in VAT. </span></p> <p style="text-align:justify"><span style="font-size:13pt">Additionally, CNI demands of increasing tax limit for personal and couples’ income as per income tax Act 2058, as price inflation has heighten in recent time. The confederation has recommended limiting taxable income of Rs 400,000 for a person and Rs 600,000 for a couple. The government might show flexibility in this regard. According to Financial Act 2072, individual earning Rs 250,000 and couples earning Rs 300,000 annually from employment will be exempted from tax. Natural person and couples earning such income are required to pay one percent social security tax only. “Tax payer who has paid capital gain tax, if failed to submit income statement then the capital gain tax should be documented as tax,” he suggested. </span></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3414', 'image' => '20160520082600_vat.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 8 => array( 'Article' => array( 'id' => '3579', 'article_category_id' => '1', 'title' => 'Century Bank Appoints Civil Capital as Issue Manager ', 'sub_title' => '', 'summary' => 'May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, ', 'content' => '<p>May 20: Century commercial Bank has appointed Civil Capital as Issue Manager for the issuance of 30 percent right shares. As per the Securities Board of Nepal (SEBON)’s recent directive, right shares are not required to go through ICRA rating, therefore the bank is planning to submit memorandum for the issuance in SEBON shortly. The bank has informed in its press release that upon SEBON and regulatory body approval, right shares will be issued within mid-July. </p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3413', 'image' => '20160520035043_Clipboard05.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 9 => array( 'Article' => array( 'id' => '3578', 'article_category_id' => '1', 'title' => 'TVS Zest in Nepali Market', 'sub_title' => '', 'summary' => 'May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.', 'content' => '<p>May 20: Jagadamba Motors, the authorised distributor of TVS two-wheelers for Nepal has launched TVS Zest Scooty in the market. The company claims that Zest that have a trendy look will run in any type of geographical area and distance.</p> <p>The company informs that Zest has got women-friendly design and precise finishing. The scooty comes with 110 CC engine capacity and Skid Steer Tubeless Tyres in both front and back. The market price of TVS Zest scooty is Rs 159,900.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3412', 'image' => '20160520035000_Clipboard03.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '3577', 'article_category_id' => '1', 'title' => 'Samsung Digital Plaza in Dhangadi', 'sub_title' => '', 'summary' => ' May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.', 'content' => '<p style="text-align: justify;">May 20: A well equipped Samsung Digital Plaza has come into operation in Chauraha Mainroad, Dhangadi. Abdul Kalam Khan, Chief District Officer of Kailali and Sankhar Bogati, President of Federation of Chamber of Commerce and Industry, Dhangadi jointly inaugurated the plaza. It has been informed Samsung LED TV, refrigerator, washing machine, mobile phones and various electronic goods will be available in the plaza.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3411', 'image' => '20160520011901_sam.jpg', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3576', 'article_category_id' => '1', 'title' => 'NBI Concludes Human Resource Workshop', 'sub_title' => '', 'summary' => ' May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund. In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.', 'content' => '<p style="text-align:justify">May 20: National Banking Institute (NBI) has concluded human resource workshop which was participated by Heads of Human Resource Department of commercial banks, development banks and Employees Provident Fund.</p> <p style="text-align:justify">In the workshop, Heads of Human Resource Department of various banks gave presentation on topics such as job description of human resource head and possible challenges faced by HR related with cultural transformation and outsourcing during the merger process.</p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3410', 'image' => '20160520010331_nbi.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3575', 'article_category_id' => '1', 'title' => 'NEPSE Reached Yet Another Highest Point', 'sub_title' => 'NEPSE Index Above 1,500 in Intraday Trading', 'summary' => 'May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.', 'content' => '<p style="text-align:justify">May 20: Nepal Stock Exchange (NEPSE) index has made yet another highest record on Thursday. NEPSE made the highest record of 1,507 points in Intraday Trading which dropped to 1,499.32 points in market closing.</p> <p style="text-align:justify">According to the sources, the present expansion of market could be attributed to CDS and Clearing Limited (CDSC). “After many years of initiation, mandatory D-mat trading has started this year. Currently, investors do not need to wait for months for share trading and receive money. In third day of transaction, investors receive share and money,” Narendra Raj Sijapati, former Chairman of Brokers’ Association says. While CDSC plays a dormant part in increase of NEPSE, it has direct support in growth of share trading.</p> <p style="text-align:justify">“Investors re- invest the money in the market as soon as they receive their money back after share trading. Therefore, CDSC not only helps in share trading but also helps to increase NEPSE index indirectly,” says an analyst. As investors are being attuned towards the mechanism, trading in the share market is increasing.</p> <p style="text-align:justify">Mandatory D-mat trading was started in last January selecting companies in instalments. Since last April 27, trading of physical share certificate has closed completely. Since then, size of the market has increased significantly. The trading amount which used to total Rs 500 million daily one year ago has increased to Rs 1 billion daily at present. This has contributed in growth of investors’ assets to Rs 1600billion.</p> <p style="text-align:justify">Excess liquidity in the market has also contributed in increase of NEPSE index. “Presently, investors are getting loans at 6.5 percent interest rate on share collateral. Those who did not issued such loans in past are expanding their investment in the market aggressively,” says Sijapati. According to the Nepal Rastra Bank’s nine months data, banks and financial institutions (BFIs) have invested more than Rs 35 billion loan in the review period of current FY. Although market had witnessed tight liquidity some time ago, investors are getting easy loan due to excess liquidity at the moment. As BFIs are in the process of paid-up capital increment and also there are rumours of paid-up capital increment of insurance and microfinance companies, market price of these companies are rising significantly.</p> <p style="text-align:justify">Meanwhile, a tool of technical analysis, RSI indicator, shows market in Neutral zone (scale 68) and balanced share transactions. Whereas, AD ratio of overall transactions of Thursday shows bullish trend in the market. </p> <p style="text-align:justify"><img alt="" src="/userfiles/images/20160519071612_chart.jpeg" style="height:400px; width:600px" /></p> ', 'published' => true, 'created' => '2016-05-20', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3409', 'image' => '20160520120438_20160512122349_nepse.JPG', 'article_date' => '2016-05-20 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3574', 'article_category_id' => '1', 'title' => 'Foreign Employment Information Now in Mobile Apps', 'sub_title' => '', 'summary' => 'May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.', 'content' => '<p style="text-align:justify">May 19: A mobile app “Shubayatra” has been launched targeting foreign employment aspirants in a bid to provide righteous information and reduce forgery. Deepak Bohara, Minister of Labour and Employment launched the mobile app amid a program on Wednesday. Shesh Ghale, Chairman of Non-Residential Nepali Association (NRNA), John Kar and Nandita Baruwa, Nepal Representatives for Asia Foundation were among the participants of the program.</p> <p style="text-align:justify"> ‘Subhayatra’ app has been created by NRNA with the coordination of The Asia Foundation and Young Innovation. The app provides various information to foreign job aspirants as well as labour already working aboard. The app includes information regarding culture of respective country, law and rights of employees, work permit, application process, Dos and Don’ts while working in abroad and information items related to woman labours.</p> <p style="text-align:justify"> Currently, the app comprises information on the prime destinations of Nepali labours; Malaysia, Saudi Arab and Qatar. The app that can be easily downloaded in android phones also facilitates information through audio and video formats for illiterate labours. Similarly, the information can be seen offline also after downloading the information from the app. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-19', 'keywords' => '', 'description' => '', 'sortorder' => '3408', 'image' => '20160519045353_for.jpg', 'article_date' => '2016-05-19 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3573', 'article_category_id' => '1', 'title' => 'Agreement between Sakchyam and NIBL', 'sub_title' => '', 'summary' => 'May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. ', 'content' => '<p style="text-align:justify">May 19: Sakchyam Access to Finance Program and Nepal Investment Bank Limited (NIBL) has made an agreement to expand financial services in mid and far-western regions. As per the agreement, NIBL will operates extension counter in Nangma of Kalikot as well as branchless banking units in Achham, Bajhag, Darchula and Doti with the financial and technical support of Sakchyam. </p> <p style="text-align:justify">It has been informed that NIBL is the first private sector commercial bank to provide financial services in Nagma of Kalikot. With the financial support of Sakchyam, various commercial banks are starting 414 branchless banking units in 14 earthquake affected districts and mid and far western regions. </p> ', 'published' => true, 'created' => '2016-05-19', 'modified' => '2016-05-20', 'keywords' => '', 'description' => '', 'sortorder' => '3407', 'image' => '20160519041046_sak.jpg', 'article_date' => '2016-05-19 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
