April 14: On the occasion of the New Year, different companies are announcing market offerings to their customers. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract…
April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the…
Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and…
April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles.…
April 14: ICFC Finance conducted its AGM on Tuesday. In the meeting, it was informed that it has succeeded to earn Rs 96 million operating profit in the FY 2071/72. During the period, company has collected Rs 4 billion 310 million deposit while it advanced loan of Rs 3 billion 650…
April 14: 14th AGM of Siddhartha Insurance has endorsed proposal of 25 percent bonus share and 25 percent right shares on the total paid up capital prior after bonus share distribution on…
Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit…
RBB CEO Shrestha Assumes Office The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited.…
April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali…
April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right…
Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two…
Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.…
April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after…
April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar.…
April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the…
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '3327', 'article_category_id' => '1', 'title' => 'Market Galore with New Year Offerings', 'sub_title' => '', 'summary' => 'April 14: On the occasion of the New Year, different companies are announcing market offerings to their customers. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.', 'content' => '<p style="text-align:justify">April 14: On the occasion of the New Year, different companies are announcing various market offerings. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.</p> <p style="text-align:justify"><strong>Discounts and gifts on automobiles</strong></p> <p style="text-align:justify">Hansraj Hulaschand and Company, the authorized distributor for Bajaj motorcycles in Nepal has come up with ‘Narokini Nepali Yuwa Josh’ offer. As per the scheme, customers can get cash discount up to Rs 7,000 on the purchase of Bajaj motorcycles.</p> <p style="text-align:justify">Similarly, Yamaha motorcycles announcing ‘Yamaha 2073’ is offering cash prize of Rs 7,300 on the purchase Yamaha two-wheelers. According to the company, one lucky customer also can get Rs 73,000 cash prize every week.</p> <p style="text-align:justify">Likewise, the authorised distributor of Suzuki motorcycles is offering ‘Suzuki 2073 ma 100 Gunasamma Nagad Chhut’ under which customers can get cash discounts starting from Rs 8000 through scratch cards.</p> <p style="text-align:justify">Meanwhile, TVS Company’s ‘TVS Naya Barsha ko SathmaCash Turantai Hathma’, Hyundai’s ‘Hyundai Happy Journey 2073’, Hero’s ‘Heroko Cash Back, Khalti Pack’, Suzuki Motors ‘Happy New Car’ and Honda cash prize offers have also been announced.</p> <p style="text-align:justify">Under the offers, different companies are offering cash discounts, savings, finance facility on minimum interest rates, road tax along with the companie paying for ownership charge and exchange offers. According to the companies, the offers will be valid for certain period.</p> <p style="text-align:justify"><strong>Different Offers on Electronics Items</strong></p> <p style="text-align:justify">Similarly, CG is offering ‘Cashma Cash Back Sathma Thuprai Sure Shot Gift’ on the purchase of LED TVs, refrigerators and washing machines. Claiming sure shot gifts on the purchase of every electronics goods, the company has also included gift hampers through daily and weekly lucky draws. Similarly, internet service provider Subisu is also offering gifts and discounts on its services. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3164', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3326', 'article_category_id' => '1', 'title' => 'Foreign Employment Insurance Amount Increased to Rs 1 Million', 'sub_title' => '', 'summary' => 'April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.', 'content' => '<p style="text-align: justify;">April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.</p> <p style="text-align: justify;">According to new arrangement, insurers need to issue insurance policy for six months more to the worker bound for foreign employment than the contract period between the worker and the employer. As per the directive, the period should not exceed one year. The directive also clarifies that the insured worker will not have to pay any commission to the agent. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3163', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3325', 'article_category_id' => '1', 'title' => 'Ncell Announces New Roaming Scheme', 'sub_title' => '', 'summary' => 'Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.', 'content' => '<p style="text-align: justify;">April 14: Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.</p> <p style="text-align: justify;">As per the new offering, Ncell’s postpaid and prepaid customers will be able to communicate back home at a flat rate of Rs 15 which is inclusive of all taxes. Users are required to connect with the Axiata’s networks of Celcom (Malaysia), Dialog (Sri Lanka), Robi (Bangladesh) and Smart (Cambodia), according to press statement by the company. “Additionally, users can enjoy Rs 15 per SMS and Rs 15 per MB data service during the roaming period,” informs Ncell.</p> <p style="text-align: justify;">Currently, the roaming tariff is Rs 49 to Rs 549 per minute to call Nepal from Bangladesh, Rs 349 per minute from Cambodia, Rs 599 per minute from Malaya and Rs 49 to Rs 149 from Sri Lanka, according to the rates of telecommunication service providers.</p> <p style="text-align: justify;">Starting from the Nepali New Year on 1 Baisakh, the scheme will continue till further notice from Ncell. As per the company, users can use the discounted roaming rates once they activate the roaming service. Postpaid customers can activate roaming service by typewriting ‘A’ and sending SMS to 900228, whereas prepaid users are required to visit closest Ncell centres for the activation.</p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3162', 'image' => '20160414121908_ncell.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3324', 'article_category_id' => '1', 'title' => 'Sales Office of Yamaha Two-Wheelers in Parasi', 'sub_title' => '', 'summary' => 'April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. ', 'content' => '<p>April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3161', 'image' => '20160414113438_yamaha.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3323', 'article_category_id' => '1', 'title' => 'ICFC Earns Rs 96 Million Operating Profit ', 'sub_title' => '', 'summary' => 'April 14: ICFC Finance conducted its AGM on Tuesday. In the meeting, it was informed that it has succeeded to earn Rs 96 million operating profit in the FY 2071/72. During the period, company has collected Rs 4 billion 310 million deposit while it advanced loan of Rs 3 billion 650 million.', 'content' => '<p style="text-align:justify">April 14: ICFC Finance has earned an operating profit of Rs 96 million in the FY 2014/15. The company in its annual general meeting held on 12 April informed of collecting Rs 4.31 billion in deposits while its loan totaled Rs 3.65 billion in the period. </p> <p style="text-align:justify">The AGM also elected Bipin Kumar Regmi, Achyut Raj Acharya and Keshav Prasad Adhikari as directors from general shareholders. Currently, the finance is serving its customers through 11 branch offices, one extension counter and nine ATMs. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3160', 'image' => '20160414105156_icfc.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3322', 'article_category_id' => '34', 'title' => 'Siddhartha Insurance to Issue Bonus and Right Share', 'sub_title' => '', 'summary' => 'April 14: 14th AGM of Siddhartha Insurance has endorsed proposal of 25 percent bonus share and 25 percent right shares on the total paid up capital prior after bonus share distribution on Tuesday.', 'content' => '<p style="text-align:justify">April 14: The 14th annual general meeting of Siddhartha Insurance has endorsed distribution of bonus and right share <span style="line-height:20.8px">on Tuesday</span><span style="line-height:1.6">. T</span><span style="line-height:1.6">he AGM approved the</span><span style="line-height:1.6"> distribution of </span><span style="line-height:1.6">25 percent right shares on the total paid-up capital </span><span style="line-height:1.6">after issuing 25 percent bonus share. </span></p> <p style="text-align:justify">Manoj Kumar Kedia, Chairman of the company presented financial report, transaction and annual report of the company. During the occasion company informed that it has earned Rs 972.2 million insurance premium during the FY 2071/72 under various insurance schemes.</p> <p style="text-align:justify">The meeting also unanimously elected Pramod Pandey from general shareholders in Board of Director (BOD) for next four years. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3159', 'image' => '20160414105040_siss.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3320', 'article_category_id' => '1', 'title' => ' Mahalaxmi Opens New Branch in Pokahara', 'sub_title' => '', 'summary' => 'Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.', 'content' => '<p>Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3158', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 7 => array( 'Article' => array( 'id' => '3319', 'article_category_id' => '1', 'title' => 'RBB CEO Shrestha Assumes Office', 'sub_title' => '', 'summary' => 'RBB CEO Shrestha Assumes Office The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. ', 'content' => '<p><strong>April 12: </strong>The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3157', 'image' => '20160412054344_rbb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3318', 'article_category_id' => '1', 'title' => 'Govt to Issue Certificate of Origin', 'sub_title' => '', 'summary' => 'April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”', 'content' => '<p style="text-align: justify;">April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”</p> <p style="text-align: justify;">According to TEPC, COs are being issued in 22 districts across the nation. “Right now, TEPC is preparing procedural task to issue CO,” Ghimire says. He informs that within the next two weeks, procedural task will be finalized and will be implemented immediately. Ghimire has been coordinating a taskforce comprising of representatives from Ministry of Industry, Ministry of Commerce and Customs Department that was formed to prepare the procedural task.</p> <p style="text-align: justify;">According to TEPC, the government had prepared directives relating to the issuance of CO in 2068 BS to export betel nuts. It opened the door for the government to issue CO for various other products. A nominal part of total amount of export is required to deposit in the Export Promotion Fund, according to the directive. Nevertheless, the TEPC claims that the private sector has not done anything regarding the provision.</p> <p style="text-align: justify;">Meanwhile, the private sector has denied such accusation of TEPC. Anup Bahadur Malla, Chairman of Export Promotion Committee of FNCCI termed the issuance of CO by the government as unnecessary. “Government should not interfere the private sector in issuing the CO. TEPC could not promote export itself,” he says. “Poor infrastructure and lack of mechanism in all districts will obstruct the government to issue CO.” Meanwhile, Ghimire says that CO can be issued using the current government mechanism. However, Malla opines that it is easy for the private sector to issue such certificates as it has mechanism in all 75 districts.</p> <p style="text-align: justify;">Malla claims that private sector has been issuing CO systematically. “Government involvement will result in the loss of income for private sector. Legally, issuing CO is private sector’s task,” says Malla. “We are not informed on the issuance of CO by the government.”</p> <p style="text-align: justify;">Ghimire says that the government will consult the private sector regarding the issue. “We will take feedback from private sector too. Certain mechanism can be formed under the TEPC in coordination with the private sector to promote exports,” he adds.</p> <p style="text-align: justify;">COs are issued to authenticate exporting products and producer countries. Currently, Federation of Nepalese Chamber of Commerce and Industries, Nepal Chamber of Commerce and Confederation of Nepalese Industries are involved in issuing CO to export products.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3156', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3317', 'article_category_id' => '1', 'title' => 'Bhaktapur Finance and Central Finance to Merge', 'sub_title' => '', 'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.', 'content' => '<p>April 12:<strong> </strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3155', 'image' => '20160412050215_bb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3316', 'article_category_id' => '1', 'title' => 'Nepal Telecom’s New Year Offer', 'sub_title' => '', 'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.', 'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p> <p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3154', 'image' => '20160412044208_tele.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3315', 'article_category_id' => '1', 'title' => 'Nepal Bank and NIDC to Merge', 'sub_title' => '', 'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC. ', 'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3153', 'image' => '20160412043651_nepal bank.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3314', 'article_category_id' => '1', 'title' => 'Gurkha Development Bank Downgraded', 'sub_title' => '', 'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.', 'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p> <p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p> <p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank’s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p> <p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p> <p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p> <p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3152', 'image' => '20160412043134_gurkham.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3313', 'article_category_id' => '1', 'title' => 'EBL Calendar 2073 Unveiled', 'sub_title' => '', 'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ', 'content' => '<p style="text-align: justify;">April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. </p> <p style="text-align: justify;">During the program, Secretary Rai appreciated the bank’s efforts to promote culture and tourism of the country. “Others should take this initiative as an example,” he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3151', 'image' => '20160412034123_ebl.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3312', 'article_category_id' => '1', 'title' => '“Govt Ready to Address Problems of Private Sector”', 'sub_title' => '', 'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.', 'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p> <p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p> <p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI. </p> <p>“Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,” he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries. </p> <p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers’ Ministry.</p> <p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p> <p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers’ right protection and maintaining an effective supply system. “We have started the process of expanding fuel storage capacity,” he informed. “Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,” he mentioned. Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. “Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.”</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3150', 'image' => '20160412031134_fc.jpg', 'article_date' => '2016-04-12 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' => '3327', 'article_category_id' => '1', 'title' => 'Market Galore with New Year Offerings', 'sub_title' => '', 'summary' => 'April 14: On the occasion of the New Year, different companies are announcing market offerings to their customers. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.', 'content' => '<p style="text-align:justify">April 14: On the occasion of the New Year, different companies are announcing various market offerings. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.</p> <p style="text-align:justify"><strong>Discounts and gifts on automobiles</strong></p> <p style="text-align:justify">Hansraj Hulaschand and Company, the authorized distributor for Bajaj motorcycles in Nepal has come up with ‘Narokini Nepali Yuwa Josh’ offer. As per the scheme, customers can get cash discount up to Rs 7,000 on the purchase of Bajaj motorcycles.</p> <p style="text-align:justify">Similarly, Yamaha motorcycles announcing ‘Yamaha 2073’ is offering cash prize of Rs 7,300 on the purchase Yamaha two-wheelers. According to the company, one lucky customer also can get Rs 73,000 cash prize every week.</p> <p style="text-align:justify">Likewise, the authorised distributor of Suzuki motorcycles is offering ‘Suzuki 2073 ma 100 Gunasamma Nagad Chhut’ under which customers can get cash discounts starting from Rs 8000 through scratch cards.</p> <p style="text-align:justify">Meanwhile, TVS Company’s ‘TVS Naya Barsha ko SathmaCash Turantai Hathma’, Hyundai’s ‘Hyundai Happy Journey 2073’, Hero’s ‘Heroko Cash Back, Khalti Pack’, Suzuki Motors ‘Happy New Car’ and Honda cash prize offers have also been announced.</p> <p style="text-align:justify">Under the offers, different companies are offering cash discounts, savings, finance facility on minimum interest rates, road tax along with the companie paying for ownership charge and exchange offers. According to the companies, the offers will be valid for certain period.</p> <p style="text-align:justify"><strong>Different Offers on Electronics Items</strong></p> <p style="text-align:justify">Similarly, CG is offering ‘Cashma Cash Back Sathma Thuprai Sure Shot Gift’ on the purchase of LED TVs, refrigerators and washing machines. Claiming sure shot gifts on the purchase of every electronics goods, the company has also included gift hampers through daily and weekly lucky draws. Similarly, internet service provider Subisu is also offering gifts and discounts on its services. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3164', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3326', 'article_category_id' => '1', 'title' => 'Foreign Employment Insurance Amount Increased to Rs 1 Million', 'sub_title' => '', 'summary' => 'April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.', 'content' => '<p style="text-align: justify;">April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.</p> <p style="text-align: justify;">According to new arrangement, insurers need to issue insurance policy for six months more to the worker bound for foreign employment than the contract period between the worker and the employer. As per the directive, the period should not exceed one year. The directive also clarifies that the insured worker will not have to pay any commission to the agent. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3163', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3325', 'article_category_id' => '1', 'title' => 'Ncell Announces New Roaming Scheme', 'sub_title' => '', 'summary' => 'Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.', 'content' => '<p style="text-align: justify;">April 14: Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.</p> <p style="text-align: justify;">As per the new offering, Ncell’s postpaid and prepaid customers will be able to communicate back home at a flat rate of Rs 15 which is inclusive of all taxes. Users are required to connect with the Axiata’s networks of Celcom (Malaysia), Dialog (Sri Lanka), Robi (Bangladesh) and Smart (Cambodia), according to press statement by the company. “Additionally, users can enjoy Rs 15 per SMS and Rs 15 per MB data service during the roaming period,” informs Ncell.</p> <p style="text-align: justify;">Currently, the roaming tariff is Rs 49 to Rs 549 per minute to call Nepal from Bangladesh, Rs 349 per minute from Cambodia, Rs 599 per minute from Malaya and Rs 49 to Rs 149 from Sri Lanka, according to the rates of telecommunication service providers.</p> <p style="text-align: justify;">Starting from the Nepali New Year on 1 Baisakh, the scheme will continue till further notice from Ncell. As per the company, users can use the discounted roaming rates once they activate the roaming service. Postpaid customers can activate roaming service by typewriting ‘A’ and sending SMS to 900228, whereas prepaid users are required to visit closest Ncell centres for the activation.</p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3162', 'image' => '20160414121908_ncell.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3324', 'article_category_id' => '1', 'title' => 'Sales Office of Yamaha Two-Wheelers in Parasi', 'sub_title' => '', 'summary' => 'April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. ', 'content' => '<p>April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3161', 'image' => '20160414113438_yamaha.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3323', 'article_category_id' => '1', 'title' => 'ICFC Earns Rs 96 Million Operating Profit ', 'sub_title' => '', 'summary' => 'April 14: ICFC Finance conducted its AGM on Tuesday. In the meeting, it was informed that it has succeeded to earn Rs 96 million operating profit in the FY 2071/72. During the period, company has collected Rs 4 billion 310 million deposit while it advanced loan of Rs 3 billion 650 million.', 'content' => '<p style="text-align:justify">April 14: ICFC Finance has earned an operating profit of Rs 96 million in the FY 2014/15. The company in its annual general meeting held on 12 April informed of collecting Rs 4.31 billion in deposits while its loan totaled Rs 3.65 billion in the period. </p> <p style="text-align:justify">The AGM also elected Bipin Kumar Regmi, Achyut Raj Acharya and Keshav Prasad Adhikari as directors from general shareholders. Currently, the finance is serving its customers through 11 branch offices, one extension counter and nine ATMs. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3160', 'image' => '20160414105156_icfc.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3322', 'article_category_id' => '34', 'title' => 'Siddhartha Insurance to Issue Bonus and Right Share', 'sub_title' => '', 'summary' => 'April 14: 14th AGM of Siddhartha Insurance has endorsed proposal of 25 percent bonus share and 25 percent right shares on the total paid up capital prior after bonus share distribution on Tuesday.', 'content' => '<p style="text-align:justify">April 14: The 14th annual general meeting of Siddhartha Insurance has endorsed distribution of bonus and right share <span style="line-height:20.8px">on Tuesday</span><span style="line-height:1.6">. T</span><span style="line-height:1.6">he AGM approved the</span><span style="line-height:1.6"> distribution of </span><span style="line-height:1.6">25 percent right shares on the total paid-up capital </span><span style="line-height:1.6">after issuing 25 percent bonus share. </span></p> <p style="text-align:justify">Manoj Kumar Kedia, Chairman of the company presented financial report, transaction and annual report of the company. During the occasion company informed that it has earned Rs 972.2 million insurance premium during the FY 2071/72 under various insurance schemes.</p> <p style="text-align:justify">The meeting also unanimously elected Pramod Pandey from general shareholders in Board of Director (BOD) for next four years. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3159', 'image' => '20160414105040_siss.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3320', 'article_category_id' => '1', 'title' => ' Mahalaxmi Opens New Branch in Pokahara', 'sub_title' => '', 'summary' => 'Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.', 'content' => '<p>Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3158', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 7 => array( 'Article' => array( 'id' => '3319', 'article_category_id' => '1', 'title' => 'RBB CEO Shrestha Assumes Office', 'sub_title' => '', 'summary' => 'RBB CEO Shrestha Assumes Office The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. ', 'content' => '<p><strong>April 12: </strong>The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3157', 'image' => '20160412054344_rbb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3318', 'article_category_id' => '1', 'title' => 'Govt to Issue Certificate of Origin', 'sub_title' => '', 'summary' => 'April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”', 'content' => '<p style="text-align: justify;">April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”</p> <p style="text-align: justify;">According to TEPC, COs are being issued in 22 districts across the nation. “Right now, TEPC is preparing procedural task to issue CO,” Ghimire says. He informs that within the next two weeks, procedural task will be finalized and will be implemented immediately. Ghimire has been coordinating a taskforce comprising of representatives from Ministry of Industry, Ministry of Commerce and Customs Department that was formed to prepare the procedural task.</p> <p style="text-align: justify;">According to TEPC, the government had prepared directives relating to the issuance of CO in 2068 BS to export betel nuts. It opened the door for the government to issue CO for various other products. A nominal part of total amount of export is required to deposit in the Export Promotion Fund, according to the directive. Nevertheless, the TEPC claims that the private sector has not done anything regarding the provision.</p> <p style="text-align: justify;">Meanwhile, the private sector has denied such accusation of TEPC. Anup Bahadur Malla, Chairman of Export Promotion Committee of FNCCI termed the issuance of CO by the government as unnecessary. “Government should not interfere the private sector in issuing the CO. TEPC could not promote export itself,” he says. “Poor infrastructure and lack of mechanism in all districts will obstruct the government to issue CO.” Meanwhile, Ghimire says that CO can be issued using the current government mechanism. However, Malla opines that it is easy for the private sector to issue such certificates as it has mechanism in all 75 districts.</p> <p style="text-align: justify;">Malla claims that private sector has been issuing CO systematically. “Government involvement will result in the loss of income for private sector. Legally, issuing CO is private sector’s task,” says Malla. “We are not informed on the issuance of CO by the government.”</p> <p style="text-align: justify;">Ghimire says that the government will consult the private sector regarding the issue. “We will take feedback from private sector too. Certain mechanism can be formed under the TEPC in coordination with the private sector to promote exports,” he adds.</p> <p style="text-align: justify;">COs are issued to authenticate exporting products and producer countries. Currently, Federation of Nepalese Chamber of Commerce and Industries, Nepal Chamber of Commerce and Confederation of Nepalese Industries are involved in issuing CO to export products.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3156', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3317', 'article_category_id' => '1', 'title' => 'Bhaktapur Finance and Central Finance to Merge', 'sub_title' => '', 'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.', 'content' => '<p>April 12:<strong> </strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3155', 'image' => '20160412050215_bb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3316', 'article_category_id' => '1', 'title' => 'Nepal Telecom’s New Year Offer', 'sub_title' => '', 'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.', 'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p> <p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3154', 'image' => '20160412044208_tele.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3315', 'article_category_id' => '1', 'title' => 'Nepal Bank and NIDC to Merge', 'sub_title' => '', 'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC. ', 'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3153', 'image' => '20160412043651_nepal bank.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3314', 'article_category_id' => '1', 'title' => 'Gurkha Development Bank Downgraded', 'sub_title' => '', 'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.', 'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p> <p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p> <p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank’s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p> <p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p> <p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p> <p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3152', 'image' => '20160412043134_gurkham.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3313', 'article_category_id' => '1', 'title' => 'EBL Calendar 2073 Unveiled', 'sub_title' => '', 'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ', 'content' => '<p style="text-align: justify;">April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. </p> <p style="text-align: justify;">During the program, Secretary Rai appreciated the bank’s efforts to promote culture and tourism of the country. “Others should take this initiative as an example,” he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3151', 'image' => '20160412034123_ebl.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3312', 'article_category_id' => '1', 'title' => '“Govt Ready to Address Problems of Private Sector”', 'sub_title' => '', 'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.', 'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p> <p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p> <p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI. </p> <p>“Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,” he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries. </p> <p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers’ Ministry.</p> <p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p> <p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers’ right protection and maintaining an effective supply system. “We have started the process of expanding fuel storage capacity,” he informed. “Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,” he mentioned. Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. “Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.”</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3150', 'image' => '20160412031134_fc.jpg', 'article_date' => '2016-04-12 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' => '3327', 'article_category_id' => '1', 'title' => 'Market Galore with New Year Offerings', 'sub_title' => '', 'summary' => 'April 14: On the occasion of the New Year, different companies are announcing market offerings to their customers. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.', 'content' => '<p style="text-align:justify">April 14: On the occasion of the New Year, different companies are announcing various market offerings. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.</p> <p style="text-align:justify"><strong>Discounts and gifts on automobiles</strong></p> <p style="text-align:justify">Hansraj Hulaschand and Company, the authorized distributor for Bajaj motorcycles in Nepal has come up with ‘Narokini Nepali Yuwa Josh’ offer. As per the scheme, customers can get cash discount up to Rs 7,000 on the purchase of Bajaj motorcycles.</p> <p style="text-align:justify">Similarly, Yamaha motorcycles announcing ‘Yamaha 2073’ is offering cash prize of Rs 7,300 on the purchase Yamaha two-wheelers. According to the company, one lucky customer also can get Rs 73,000 cash prize every week.</p> <p style="text-align:justify">Likewise, the authorised distributor of Suzuki motorcycles is offering ‘Suzuki 2073 ma 100 Gunasamma Nagad Chhut’ under which customers can get cash discounts starting from Rs 8000 through scratch cards.</p> <p style="text-align:justify">Meanwhile, TVS Company’s ‘TVS Naya Barsha ko SathmaCash Turantai Hathma’, Hyundai’s ‘Hyundai Happy Journey 2073’, Hero’s ‘Heroko Cash Back, Khalti Pack’, Suzuki Motors ‘Happy New Car’ and Honda cash prize offers have also been announced.</p> <p style="text-align:justify">Under the offers, different companies are offering cash discounts, savings, finance facility on minimum interest rates, road tax along with the companie paying for ownership charge and exchange offers. According to the companies, the offers will be valid for certain period.</p> <p style="text-align:justify"><strong>Different Offers on Electronics Items</strong></p> <p style="text-align:justify">Similarly, CG is offering ‘Cashma Cash Back Sathma Thuprai Sure Shot Gift’ on the purchase of LED TVs, refrigerators and washing machines. Claiming sure shot gifts on the purchase of every electronics goods, the company has also included gift hampers through daily and weekly lucky draws. Similarly, internet service provider Subisu is also offering gifts and discounts on its services. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3164', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3326', 'article_category_id' => '1', 'title' => 'Foreign Employment Insurance Amount Increased to Rs 1 Million', 'sub_title' => '', 'summary' => 'April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.', 'content' => '<p style="text-align: justify;">April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.</p> <p style="text-align: justify;">According to new arrangement, insurers need to issue insurance policy for six months more to the worker bound for foreign employment than the contract period between the worker and the employer. As per the directive, the period should not exceed one year. The directive also clarifies that the insured worker will not have to pay any commission to the agent. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3163', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3325', 'article_category_id' => '1', 'title' => 'Ncell Announces New Roaming Scheme', 'sub_title' => '', 'summary' => 'Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.', 'content' => '<p style="text-align: justify;">April 14: Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.</p> <p style="text-align: justify;">As per the new offering, Ncell’s postpaid and prepaid customers will be able to communicate back home at a flat rate of Rs 15 which is inclusive of all taxes. Users are required to connect with the Axiata’s networks of Celcom (Malaysia), Dialog (Sri Lanka), Robi (Bangladesh) and Smart (Cambodia), according to press statement by the company. “Additionally, users can enjoy Rs 15 per SMS and Rs 15 per MB data service during the roaming period,” informs Ncell.</p> <p style="text-align: justify;">Currently, the roaming tariff is Rs 49 to Rs 549 per minute to call Nepal from Bangladesh, Rs 349 per minute from Cambodia, Rs 599 per minute from Malaya and Rs 49 to Rs 149 from Sri Lanka, according to the rates of telecommunication service providers.</p> <p style="text-align: justify;">Starting from the Nepali New Year on 1 Baisakh, the scheme will continue till further notice from Ncell. As per the company, users can use the discounted roaming rates once they activate the roaming service. Postpaid customers can activate roaming service by typewriting ‘A’ and sending SMS to 900228, whereas prepaid users are required to visit closest Ncell centres for the activation.</p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3162', 'image' => '20160414121908_ncell.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3324', 'article_category_id' => '1', 'title' => 'Sales Office of Yamaha Two-Wheelers in Parasi', 'sub_title' => '', 'summary' => 'April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. ', 'content' => '<p>April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3161', 'image' => '20160414113438_yamaha.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3323', 'article_category_id' => '1', 'title' => 'ICFC Earns Rs 96 Million Operating Profit ', 'sub_title' => '', 'summary' => 'April 14: ICFC Finance conducted its AGM on Tuesday. In the meeting, it was informed that it has succeeded to earn Rs 96 million operating profit in the FY 2071/72. During the period, company has collected Rs 4 billion 310 million deposit while it advanced loan of Rs 3 billion 650 million.', 'content' => '<p style="text-align:justify">April 14: ICFC Finance has earned an operating profit of Rs 96 million in the FY 2014/15. The company in its annual general meeting held on 12 April informed of collecting Rs 4.31 billion in deposits while its loan totaled Rs 3.65 billion in the period. </p> <p style="text-align:justify">The AGM also elected Bipin Kumar Regmi, Achyut Raj Acharya and Keshav Prasad Adhikari as directors from general shareholders. Currently, the finance is serving its customers through 11 branch offices, one extension counter and nine ATMs. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3160', 'image' => '20160414105156_icfc.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3322', 'article_category_id' => '34', 'title' => 'Siddhartha Insurance to Issue Bonus and Right Share', 'sub_title' => '', 'summary' => 'April 14: 14th AGM of Siddhartha Insurance has endorsed proposal of 25 percent bonus share and 25 percent right shares on the total paid up capital prior after bonus share distribution on Tuesday.', 'content' => '<p style="text-align:justify">April 14: The 14th annual general meeting of Siddhartha Insurance has endorsed distribution of bonus and right share <span style="line-height:20.8px">on Tuesday</span><span style="line-height:1.6">. T</span><span style="line-height:1.6">he AGM approved the</span><span style="line-height:1.6"> distribution of </span><span style="line-height:1.6">25 percent right shares on the total paid-up capital </span><span style="line-height:1.6">after issuing 25 percent bonus share. </span></p> <p style="text-align:justify">Manoj Kumar Kedia, Chairman of the company presented financial report, transaction and annual report of the company. During the occasion company informed that it has earned Rs 972.2 million insurance premium during the FY 2071/72 under various insurance schemes.</p> <p style="text-align:justify">The meeting also unanimously elected Pramod Pandey from general shareholders in Board of Director (BOD) for next four years. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3159', 'image' => '20160414105040_siss.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3320', 'article_category_id' => '1', 'title' => ' Mahalaxmi Opens New Branch in Pokahara', 'sub_title' => '', 'summary' => 'Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.', 'content' => '<p>Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3158', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 7 => array( 'Article' => array( 'id' => '3319', 'article_category_id' => '1', 'title' => 'RBB CEO Shrestha Assumes Office', 'sub_title' => '', 'summary' => 'RBB CEO Shrestha Assumes Office The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. ', 'content' => '<p><strong>April 12: </strong>The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3157', 'image' => '20160412054344_rbb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3318', 'article_category_id' => '1', 'title' => 'Govt to Issue Certificate of Origin', 'sub_title' => '', 'summary' => 'April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”', 'content' => '<p style="text-align: justify;">April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”</p> <p style="text-align: justify;">According to TEPC, COs are being issued in 22 districts across the nation. “Right now, TEPC is preparing procedural task to issue CO,” Ghimire says. He informs that within the next two weeks, procedural task will be finalized and will be implemented immediately. Ghimire has been coordinating a taskforce comprising of representatives from Ministry of Industry, Ministry of Commerce and Customs Department that was formed to prepare the procedural task.</p> <p style="text-align: justify;">According to TEPC, the government had prepared directives relating to the issuance of CO in 2068 BS to export betel nuts. It opened the door for the government to issue CO for various other products. A nominal part of total amount of export is required to deposit in the Export Promotion Fund, according to the directive. Nevertheless, the TEPC claims that the private sector has not done anything regarding the provision.</p> <p style="text-align: justify;">Meanwhile, the private sector has denied such accusation of TEPC. Anup Bahadur Malla, Chairman of Export Promotion Committee of FNCCI termed the issuance of CO by the government as unnecessary. “Government should not interfere the private sector in issuing the CO. TEPC could not promote export itself,” he says. “Poor infrastructure and lack of mechanism in all districts will obstruct the government to issue CO.” Meanwhile, Ghimire says that CO can be issued using the current government mechanism. However, Malla opines that it is easy for the private sector to issue such certificates as it has mechanism in all 75 districts.</p> <p style="text-align: justify;">Malla claims that private sector has been issuing CO systematically. “Government involvement will result in the loss of income for private sector. Legally, issuing CO is private sector’s task,” says Malla. “We are not informed on the issuance of CO by the government.”</p> <p style="text-align: justify;">Ghimire says that the government will consult the private sector regarding the issue. “We will take feedback from private sector too. Certain mechanism can be formed under the TEPC in coordination with the private sector to promote exports,” he adds.</p> <p style="text-align: justify;">COs are issued to authenticate exporting products and producer countries. Currently, Federation of Nepalese Chamber of Commerce and Industries, Nepal Chamber of Commerce and Confederation of Nepalese Industries are involved in issuing CO to export products.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3156', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3317', 'article_category_id' => '1', 'title' => 'Bhaktapur Finance and Central Finance to Merge', 'sub_title' => '', 'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.', 'content' => '<p>April 12:<strong> </strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3155', 'image' => '20160412050215_bb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3316', 'article_category_id' => '1', 'title' => 'Nepal Telecom’s New Year Offer', 'sub_title' => '', 'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.', 'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p> <p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3154', 'image' => '20160412044208_tele.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3315', 'article_category_id' => '1', 'title' => 'Nepal Bank and NIDC to Merge', 'sub_title' => '', 'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC. ', 'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3153', 'image' => '20160412043651_nepal bank.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3314', 'article_category_id' => '1', 'title' => 'Gurkha Development Bank Downgraded', 'sub_title' => '', 'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.', 'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p> <p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p> <p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank’s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p> <p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p> <p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p> <p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3152', 'image' => '20160412043134_gurkham.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3313', 'article_category_id' => '1', 'title' => 'EBL Calendar 2073 Unveiled', 'sub_title' => '', 'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ', 'content' => '<p style="text-align: justify;">April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. </p> <p style="text-align: justify;">During the program, Secretary Rai appreciated the bank’s efforts to promote culture and tourism of the country. “Others should take this initiative as an example,” he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3151', 'image' => '20160412034123_ebl.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3312', 'article_category_id' => '1', 'title' => '“Govt Ready to Address Problems of Private Sector”', 'sub_title' => '', 'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.', 'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p> <p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p> <p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI. </p> <p>“Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,” he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries. </p> <p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers’ Ministry.</p> <p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p> <p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers’ right protection and maintaining an effective supply system. “We have started the process of expanding fuel storage capacity,” he informed. “Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,” he mentioned. Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. “Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.”</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3150', 'image' => '20160412031134_fc.jpg', 'article_date' => '2016-04-12 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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Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.', 'content' => '<p style="text-align:justify">April 14: On the occasion of the New Year, different companies are announcing various market offerings. Distributors of automobiles, consumer electronics including mobile handsets have unveiled cash discounts, lucky draws and gifts to attract customers.</p> <p style="text-align:justify"><strong>Discounts and gifts on automobiles</strong></p> <p style="text-align:justify">Hansraj Hulaschand and Company, the authorized distributor for Bajaj motorcycles in Nepal has come up with ‘Narokini Nepali Yuwa Josh’ offer. As per the scheme, customers can get cash discount up to Rs 7,000 on the purchase of Bajaj motorcycles.</p> <p style="text-align:justify">Similarly, Yamaha motorcycles announcing ‘Yamaha 2073’ is offering cash prize of Rs 7,300 on the purchase Yamaha two-wheelers. According to the company, one lucky customer also can get Rs 73,000 cash prize every week.</p> <p style="text-align:justify">Likewise, the authorised distributor of Suzuki motorcycles is offering ‘Suzuki 2073 ma 100 Gunasamma Nagad Chhut’ under which customers can get cash discounts starting from Rs 8000 through scratch cards.</p> <p style="text-align:justify">Meanwhile, TVS Company’s ‘TVS Naya Barsha ko SathmaCash Turantai Hathma’, Hyundai’s ‘Hyundai Happy Journey 2073’, Hero’s ‘Heroko Cash Back, Khalti Pack’, Suzuki Motors ‘Happy New Car’ and Honda cash prize offers have also been announced.</p> <p style="text-align:justify">Under the offers, different companies are offering cash discounts, savings, finance facility on minimum interest rates, road tax along with the companie paying for ownership charge and exchange offers. According to the companies, the offers will be valid for certain period.</p> <p style="text-align:justify"><strong>Different Offers on Electronics Items</strong></p> <p style="text-align:justify">Similarly, CG is offering ‘Cashma Cash Back Sathma Thuprai Sure Shot Gift’ on the purchase of LED TVs, refrigerators and washing machines. Claiming sure shot gifts on the purchase of every electronics goods, the company has also included gift hampers through daily and weekly lucky draws. Similarly, internet service provider Subisu is also offering gifts and discounts on its services. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3164', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 1 => array( 'Article' => array( 'id' => '3326', 'article_category_id' => '1', 'title' => 'Foreign Employment Insurance Amount Increased to Rs 1 Million', 'sub_title' => '', 'summary' => 'April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.', 'content' => '<p style="text-align: justify;">April 14: Insurance Board has increased the insurance amount of foreign employment insurance by 100 percent to Rs 1 million. The board on Tuesday issued a directive effective from April 13, 2016. Along with the implementation of the directive, the rightful nominee of the insured who loss life during foreign employment will get compensation of Rs 1 million. Earlier, it was Rs 500,000. Though the insurance amount has increased by 100 percent, insurance premium on foreign employment has increased by 65 percent only. The board took the decision as per the recommendation made by Foreign Employment Promotion Board. In the directive, insurance premium has been set differently as per the insurance period and age of the insured.</p> <p style="text-align: justify;">According to new arrangement, insurers need to issue insurance policy for six months more to the worker bound for foreign employment than the contract period between the worker and the employer. As per the directive, the period should not exceed one year. The directive also clarifies that the insured worker will not have to pay any commission to the agent. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3163', 'image' => null, 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 2 => array( 'Article' => array( 'id' => '3325', 'article_category_id' => '1', 'title' => 'Ncell Announces New Roaming Scheme', 'sub_title' => '', 'summary' => 'Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.', 'content' => '<p style="text-align: justify;">April 14: Ncell has announced new roaming scheme. On the occasion of the telecommunications service provider becoming a part of the Malaysian telecom company Axiata, Ncell has offered discounted roaming rates for its customers. Under the scheme, customers visiting countries with Axiata’s mobile network can use the discounts. The scheme is applicable to the Ncell’s customers travelling to Malaysia, Bangladesh, Sri Lanka and Cambodia.</p> <p style="text-align: justify;">As per the new offering, Ncell’s postpaid and prepaid customers will be able to communicate back home at a flat rate of Rs 15 which is inclusive of all taxes. Users are required to connect with the Axiata’s networks of Celcom (Malaysia), Dialog (Sri Lanka), Robi (Bangladesh) and Smart (Cambodia), according to press statement by the company. “Additionally, users can enjoy Rs 15 per SMS and Rs 15 per MB data service during the roaming period,” informs Ncell.</p> <p style="text-align: justify;">Currently, the roaming tariff is Rs 49 to Rs 549 per minute to call Nepal from Bangladesh, Rs 349 per minute from Cambodia, Rs 599 per minute from Malaya and Rs 49 to Rs 149 from Sri Lanka, according to the rates of telecommunication service providers.</p> <p style="text-align: justify;">Starting from the Nepali New Year on 1 Baisakh, the scheme will continue till further notice from Ncell. As per the company, users can use the discounted roaming rates once they activate the roaming service. Postpaid customers can activate roaming service by typewriting ‘A’ and sending SMS to 900228, whereas prepaid users are required to visit closest Ncell centres for the activation.</p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3162', 'image' => '20160414121908_ncell.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 3 => array( 'Article' => array( 'id' => '3324', 'article_category_id' => '1', 'title' => 'Sales Office of Yamaha Two-Wheelers in Parasi', 'sub_title' => '', 'summary' => 'April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. ', 'content' => '<p>April 14: A new sales office of Yamaha motorcycles operated by N and M Automobiles Pvt Ltd has opened in Parasi of Nawalparasi. With this the number of sales offices of Yamaha has reached 72 across Nepal. The outlet was inaugurated by Miss Nepal 2015 Ivana Manandhar. “Customers can purchase motorcycles and scooters from this outlet,” informs Mohit Kumar Yadav, Manager of N and M Automobiles. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3161', 'image' => '20160414113438_yamaha.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 4 => array( 'Article' => array( 'id' => '3323', 'article_category_id' => '1', 'title' => 'ICFC Earns Rs 96 Million Operating Profit ', 'sub_title' => '', 'summary' => 'April 14: ICFC Finance conducted its AGM on Tuesday. In the meeting, it was informed that it has succeeded to earn Rs 96 million operating profit in the FY 2071/72. During the period, company has collected Rs 4 billion 310 million deposit while it advanced loan of Rs 3 billion 650 million.', 'content' => '<p style="text-align:justify">April 14: ICFC Finance has earned an operating profit of Rs 96 million in the FY 2014/15. The company in its annual general meeting held on 12 April informed of collecting Rs 4.31 billion in deposits while its loan totaled Rs 3.65 billion in the period. </p> <p style="text-align:justify">The AGM also elected Bipin Kumar Regmi, Achyut Raj Acharya and Keshav Prasad Adhikari as directors from general shareholders. Currently, the finance is serving its customers through 11 branch offices, one extension counter and nine ATMs. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3160', 'image' => '20160414105156_icfc.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 5 => array( 'Article' => array( 'id' => '3322', 'article_category_id' => '34', 'title' => 'Siddhartha Insurance to Issue Bonus and Right Share', 'sub_title' => '', 'summary' => 'April 14: 14th AGM of Siddhartha Insurance has endorsed proposal of 25 percent bonus share and 25 percent right shares on the total paid up capital prior after bonus share distribution on Tuesday.', 'content' => '<p style="text-align:justify">April 14: The 14th annual general meeting of Siddhartha Insurance has endorsed distribution of bonus and right share <span style="line-height:20.8px">on Tuesday</span><span style="line-height:1.6">. T</span><span style="line-height:1.6">he AGM approved the</span><span style="line-height:1.6"> distribution of </span><span style="line-height:1.6">25 percent right shares on the total paid-up capital </span><span style="line-height:1.6">after issuing 25 percent bonus share. </span></p> <p style="text-align:justify">Manoj Kumar Kedia, Chairman of the company presented financial report, transaction and annual report of the company. During the occasion company informed that it has earned Rs 972.2 million insurance premium during the FY 2071/72 under various insurance schemes.</p> <p style="text-align:justify">The meeting also unanimously elected Pramod Pandey from general shareholders in Board of Director (BOD) for next four years. </p> ', 'published' => true, 'created' => '2016-04-14', 'modified' => '2016-04-14', 'keywords' => '', 'description' => '', 'sortorder' => '3159', 'image' => '20160414105040_siss.jpg', 'article_date' => '2016-04-14 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 6 => array( 'Article' => array( 'id' => '3320', 'article_category_id' => '1', 'title' => ' Mahalaxmi Opens New Branch in Pokahara', 'sub_title' => '', 'summary' => 'Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.', 'content' => '<p>Mahalaxmi Finance Limited has opened its new branch in Chipledhunga of Pokhara. Sanjay Giri , Director of Mahalxmi Finance and Bindu Kumar Thapa, President of Pokhara Chamber of Commerce and Industry jointly inaugurated the branch amid a program held on April 11. Mahalxmi Finance, which has capital of Rs 483 million, has been providing its services over the past 21 years. The finance has been providing remittance services, ABBS, SMS banking, ATM and safe deposit services.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3158', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '15' ) ), (int) 7 => array( 'Article' => array( 'id' => '3319', 'article_category_id' => '1', 'title' => 'RBB CEO Shrestha Assumes Office', 'sub_title' => '', 'summary' => 'RBB CEO Shrestha Assumes Office The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. ', 'content' => '<p><strong>April 12: </strong>The newly appointed CEO of Rastriya Banijya Bank Kiran Kumar Shrestha has assumed office on April 11. Born in 1956 at Chainpur of Sankhuwasabha, Shrestha has done Masters in Public Administration. Earlier, he was the General Manager of Nepal Bank Limited. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3157', 'image' => '20160412054344_rbb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 8 => array( 'Article' => array( 'id' => '3318', 'article_category_id' => '1', 'title' => 'Govt to Issue Certificate of Origin', 'sub_title' => '', 'summary' => 'April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”', 'content' => '<p style="text-align: justify;">April 12: The government is preparing to issue Certificate of Origin (CO) to manage the current export mechanism. The certificates were issued by private sector association chamber of commerce until now. According to the Trade and Promotion Centre (TEPC), the government has reached a conclusion that COs issued by the private sector is not transparent. “Certificates issued by private sector association have raised some question,” says Ishwor Prasad Ghimire, Executive Director of TEPC. “The government is preparing to issue CO to promote exports while also keeping authentication of Nepali product.”</p> <p style="text-align: justify;">According to TEPC, COs are being issued in 22 districts across the nation. “Right now, TEPC is preparing procedural task to issue CO,” Ghimire says. He informs that within the next two weeks, procedural task will be finalized and will be implemented immediately. Ghimire has been coordinating a taskforce comprising of representatives from Ministry of Industry, Ministry of Commerce and Customs Department that was formed to prepare the procedural task.</p> <p style="text-align: justify;">According to TEPC, the government had prepared directives relating to the issuance of CO in 2068 BS to export betel nuts. It opened the door for the government to issue CO for various other products. A nominal part of total amount of export is required to deposit in the Export Promotion Fund, according to the directive. Nevertheless, the TEPC claims that the private sector has not done anything regarding the provision.</p> <p style="text-align: justify;">Meanwhile, the private sector has denied such accusation of TEPC. Anup Bahadur Malla, Chairman of Export Promotion Committee of FNCCI termed the issuance of CO by the government as unnecessary. “Government should not interfere the private sector in issuing the CO. TEPC could not promote export itself,” he says. “Poor infrastructure and lack of mechanism in all districts will obstruct the government to issue CO.” Meanwhile, Ghimire says that CO can be issued using the current government mechanism. However, Malla opines that it is easy for the private sector to issue such certificates as it has mechanism in all 75 districts.</p> <p style="text-align: justify;">Malla claims that private sector has been issuing CO systematically. “Government involvement will result in the loss of income for private sector. Legally, issuing CO is private sector’s task,” says Malla. “We are not informed on the issuance of CO by the government.”</p> <p style="text-align: justify;">Ghimire says that the government will consult the private sector regarding the issue. “We will take feedback from private sector too. Certain mechanism can be formed under the TEPC in coordination with the private sector to promote exports,” he adds.</p> <p style="text-align: justify;">COs are issued to authenticate exporting products and producer countries. Currently, Federation of Nepalese Chamber of Commerce and Industries, Nepal Chamber of Commerce and Confederation of Nepalese Industries are involved in issuing CO to export products.</p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3156', 'image' => null, 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 9 => array( 'Article' => array( 'id' => '3317', 'article_category_id' => '1', 'title' => 'Bhaktapur Finance and Central Finance to Merge', 'sub_title' => '', 'summary' => 'April 12: Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.', 'content' => '<p>April 12:<strong> </strong>Bhaktapur Finance Company Limited and Central Finance Limited are all set to merge. Both financial institutions have signed a memorandum of understanding (MOU) for the merger on April 11. Sanjoj Man Shrestha, Chairman of Central Finance and Chaitya Raj Shakya, Chairman of Bhaktapur Finance signed the agreement on behalf of their respective organisations. The merger between the two institutions has come as a result of the new capital requirement announced by Nepal Rastra Bank (NRB). As per the rule, finance companies are required to raise their paid-up capital to Rs 800 million. The paid-up capital of Central Finance is Rs 246.5 million while Bhaktapur Finance has Rs 210 million as its paid-up capital. According to the joint statement, the merged entity will increase its capital by issuing right shares.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3155', 'image' => '20160412050215_bb.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 10 => array( 'Article' => array( 'id' => '3316', 'article_category_id' => '1', 'title' => 'Nepal Telecom’s New Year Offer', 'sub_title' => '', 'summary' => 'Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.', 'content' => '<p style="text-align: justify;">April 12: Nepal Telecom on the occasion of new year has announced discounts on its services. According to a press statement by the telecom service provider, it will provide discount on SMS and internet services to its customers starting from April 12. The company is offering a 50 percent discount on the existing tariff of SMS through GSM and CDMA services within its network. The offer will come into effect from Tuesday and will last for two days.</p> <p style="text-align: justify;">Similarly, Nepal Telecom is also providing discount on internet for prepaid and postpaid customers. As per the offer, 100 MB data package can be purchased at Rs 50. The service will last for three days starting from Tuesday, according to the company.</p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3154', 'image' => '20160412044208_tele.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 11 => array( 'Article' => array( 'id' => '3315', 'article_category_id' => '1', 'title' => 'Nepal Bank and NIDC to Merge', 'sub_title' => '', 'summary' => 'Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC. ', 'content' => '<p>April 12: Nepal Bank and NIDC Development Bank are going for merger. A recent board of directors meeting of the Nepal Bank has taken a principle decision to start merger or acquisition processes with NIDC Development Bank. According to the Nepal Bank, the management has already been directed to move towards the merger process. Similarly, the bank has also made informal discussion with the government and NIDC for the purpose. However, formal decision is yet to be made. Both banks are owned by the government. The government holds 62 percent stake in the Nepal Bank has and 99 percent in the NIDC.</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3153', 'image' => '20160412043651_nepal bank.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 12 => array( 'Article' => array( 'id' => '3314', 'article_category_id' => '1', 'title' => 'Gurkha Development Bank Downgraded', 'sub_title' => '', 'summary' => 'April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.', 'content' => '<p style="text-align: justify;">April 12: Gurkhas Finance has started its operations. The finance company formed by the merger between Gurkha Development Bank and Kathmandu Finance begun its integrated transactions on April 10. The ‘B’ level Gurkha Development bank has become ‘C’ level after the merger. This is for the first time in the country that a financial institution has been downgraded after merger.</p> <p style="text-align: justify;">Gurkha Development Bank was declared troubled by Nepal Rastriya Bank (NRB) on March 25, 2011. The huge fund embezzled by the then directors of the bank including DB Bamjan, Rakesh Adukiya and Nirmal Gurung cause the bank to fall in trouble. With no improvement two years after the declaring it troubled, NRB took over the management of the bank on 2012.</p> <p style="text-align: justify;">NRB appointed Mukti Nath Sapkota and Ganesh Kumar Rai to take the responsibility of the bank in the leadership of Bishnu Thapa. However, Thapa was called back and the management leadership was handed to Mukti Nath Sapkota. For the improvement of the bank’s financial health, the NRB team collected bad debts and started the merger process. As per the clause 37 of the Bank and Financial Institution Act (Bafia), NRB downgraded the Gorkha Development Bank by one level.</p> <p style="text-align: justify;">The new entity formed after the merger has a paid-up capital of Rs 570 million. Likewise, its deposits stand at Rs 1.93 billion while its loans totaled Rs 2.6 billion. The bank has 10 branches and 44,000 customers.</p> <p style="text-align: justify;">Meanwhile, the NRB has hand over the management of Gurkhas Finance to the related board of directors. Stating that the company has returned to normal position, NRB has separated itself from the management responsibility.</p> <p style="text-align: justify;">After the merger, Mahendra Lal Rai has become the Chairman of the company, whereas Meharman Lingden, Birendra Bikram Limbu, Prem Bahadur Gurung and Tek Bahadur Gurung are its board members. Raj Kumar Rai has been appointed the CEO of the finance. </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3152', 'image' => '20160412043134_gurkham.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 13 => array( 'Article' => array( 'id' => '3313', 'article_category_id' => '1', 'title' => 'EBL Calendar 2073 Unveiled', 'sub_title' => '', 'summary' => 'April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. ', 'content' => '<p style="text-align: justify;">April 12: Everest Bank Limited has unveiled calendar for the New Year 2073. Prem Kumar Rai, Secretary of Ministry of Culture, Tourism and Civil Aviation launched the EBL Calendar 2073 amid a program held at the ministry on April 11. The function was also attended by senior officials of the ministry and the bank. Everest Bank has been consistently publishing calendars focusing on natural and cultural heritages of the country. Wildlife and birds have been featured in the new calendar. </p> <p style="text-align: justify;">During the program, Secretary Rai appreciated the bank’s efforts to promote culture and tourism of the country. “Others should take this initiative as an example,” he said. At present, the bank is providing banking services through its network of 61 branches, 5 extension counters, 24 revenue collection counters and 84 ATMs across the nation.</p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> <p style="text-align: justify;"> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3151', 'image' => '20160412034123_ebl.jpg', 'article_date' => '2016-04-12 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '16' ) ), (int) 14 => array( 'Article' => array( 'id' => '3312', 'article_category_id' => '1', 'title' => '“Govt Ready to Address Problems of Private Sector”', 'sub_title' => '', 'summary' => 'April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50th annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.', 'content' => '<p>April 12: The government has said that it is ready to address the problems faced by the private sector. Speaking at the 50<sup>th</sup> annual general meeting of Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Commerce and Labour Minister Deepak Bohara and Supply Minister Ganesh Man Pun express the government’s willingness to support the private sector. The minister duo reiterated the government’s commitment to solve problems related to commerce, labour and supply in the programme. Participants point out various problems of industrial and business sector. The programme was participated by industrialists and entrepreneurs from various parts of the nation.</p> <p>Participants demanded clear policies and supportive environment to renew firms, ease of the supply system and availability of fuel for industries and businesses. They suggested adopting policies to encourage small entrepreneurs, emphasized on re-establishment of displaced banks, removal of delays in local development and construction projects. Similarly, they urged the government to immediately stop the market inspections that has terrified the entrepreneurs.</p> <p>Minister Bohara assured of providing immediate solution to the problems regarding renewal of business firms with the recommendation from district chambers of commerce and industries in co-ordination with the FNCCI. </p> <p>“Bills regarding labour and social security are already in the parliament. We will soon endorsed and implement the acts,” he said. He suggested FNCCI to take active initiation to systematically solve the problems faced by the private sectors problem. He advised the umbrella organization of Nepali industrialists and businesspersons to submit a concrete proposal to address the problems and implement them by co-coordinating with concerned ministries. </p> <p>Bohara claimed that he is always ready to support private sector and requested the businesspersons to consider the Labour Ministry as their own rather taking it as labourers’ Ministry.</p> <p>He also expressed his views on trade deficit with India and China. He points out on need of solid plan and strategy in order to reduce the trade deficit with both neighbours. He also requested the FNCCI to come up with proposals regarding the solution of quarantine problems while exporting in India and China.</p> <p>During the meeting, Supply Minister Ganesh Man Pun clarified that the government is working towards consumers’ right protection and maintaining an effective supply system. “We have started the process of expanding fuel storage capacity,” he informed. “Even though supply of diesel, petrol and gas has normalized in the recent days, we are having a tough time to bring the situation back to normalcy as the country had reeled under border blockade and scarcity for months,” he mentioned. Pun claimed that the situation will be normal soon. Meanwhile, he accepted the chaos in the name of market inspections. He informed the private sector of working towards making inspection mechanism more integrated, scientific and organised. “Special task is being carried out to work out measurement issues. The issues raised by private sector will be addressed in mutual cooperation.”</p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2016-04-12', 'modified' => '2016-04-12', 'keywords' => '', 'description' => '', 'sortorder' => '3150', 'image' => '20160412031134_fc.jpg', 'article_date' => '2016-04-12 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
