September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth…
September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth…
September 25: The government has decided to lift a moratorium on the establishment of breweries and distilleries in the country.…
September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their…
September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on…
September 24: The government has decided to restaurants with at least 20 seats to produce their own beer. The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector. The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to…
September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay…
September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. “The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the…
September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the…
September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu. The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley.…
September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28…
September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon)…
September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App…
September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered…
September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8…
September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, launched has launched GD22, TD22, T10 love, P55 Novo + and…
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In Jogbani, the Indian town bordering Biratnagar, around 1,500 trucks are in a queue stretching up to Farbisgunj.</p> <p>Right after the promulgation of the constitution in Nepal, the southern neighbour has been expressing discontent over the major political parties’ failure to address the demands of the Madhesi parties. Indian officials deny that an embargo is in place, they maintain that they are worried about the safety of freight operators. During the last five days, only 314 trucks have entered Nepal carrying fuel and consumables. </p> ', 'published' => true, 'created' => '2015-09-27', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2754', 'image' => '20150927024344_fsdfsdfdsfdslj.jpg', 'article_date' => '2015-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 1 => array( 'Article' => array( 'id' => '2912', 'article_category_id' => '91', 'title' => 'Government decides to issue permits to establish new breweries and distilleries', 'sub_title' => '', 'summary' => 'September 25: The government has decided to lift a moratorium on the establishment of breweries and distilleries in the country. ', 'content' => '<p>September 25: The government has decided to lift a moratorium on the establishment of distilleries and breweries in the country. </p> <p>The decision was made by a meeting of the Industrial Promotion Board, held on September 18, under the chairmanship of Industry Minister Mahesh Basnet. </p> <p>The government had halted registration of new breweries and distilleries, and not allowed existing breweries to upgrade claiming liquor producers were not able to meet the required standard. However, the newly approved provision does not allow the entrepreneurs to establish a plant in Kathmandu and other sub-metropolitan cities, as well as near the southern part of Lumbini, and 15 km radius of Indo-Nepal border.</p> <p>Similarly, the meeting has also set new standards for registration and environmental assessment. Parties interested in operating a brewery or distillery will have to deposit Rs 500,000 for registration and an additional Rs 300,000 for its upgrade. The new provision also requires a brewery to employ at least one technician, microbiologist or chemist and a food specialist.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2753', 'image' => null, 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 2 => array( 'Article' => array( 'id' => '2911', 'article_category_id' => '91', 'title' => 'NRB directs BFIs to make capital increment plan public', 'sub_title' => '', 'summary' => 'September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.', 'content' => '<p>September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.</p> <p>The central bank had issued a September 17 deadline for BFIs to submit their plan to meet NRB’s minimum paid-up capital requirement. The bank had earlier directed BFIs to make their plan public through Nepal Stock Exchange, once it is approved by the central bank.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2752', 'image' => '20150925123918_fdfdsf.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 3 => array( 'Article' => array( 'id' => '2910', 'article_category_id' => '91', 'title' => 'NADA election: Sethia and Shrestha in contention for top post', 'sub_title' => '', 'summary' => 'September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.', 'content' => '<p>September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.</p> <p>Laxmi Intercontinental’s Managing Director Anjan Shrestha and ATC Pvt Ltd’s Managing Director Manoj Sethia have announced their candidacy for the post of president. Both Shrestha and Sethi were elected Vice-president during the last election.</p> <p>There are 356 voters in NADA. Shrestha and Sethia have both said that their focus would be on expanding NADA’s network around the country and to take steps to create an amicable environment for the business in Nepal.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2751', 'image' => '20150925120015_dfjdslkfjl.JPG', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 4 => array( 'Article' => array( 'id' => '2908', 'article_category_id' => '1', 'title' => 'Restaurants in Nepal can now make their own beer', 'sub_title' => '', 'summary' => 'September 24: The government has decided to restaurants with at least 20 seats to produce their own beer. The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector. The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.', 'content' => '<p><strong><span style="font-size:14px">September 24: The government has decided to restaurants with at least 20 seats to produce their own beer.</span></strong></p> <p><strong><span style="font-size:14px">The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector.</span></strong></p> <p><strong><span style="font-size:14px">The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.</span></strong></p> <p><strong><span style="font-size:14px">According to the standard, restaurants can only produce beverages that have up to 7 percent alcohol, and the restaurant should have the capacity to serve at least 20 customers at a given time. </span></strong></p> <p><strong><span style="font-size:14px">Maheswor Neupane, director general of Department of Industry, said that restaurants would require at least 10.5 million rupees to establish a micro brewery. According to Neupane, interested operators can sell maximum of 2.5million liters of beer per year.</span></strong></p> <p> </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2750', 'image' => '20150924044420_brewery.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 5 => array( 'Article' => array( 'id' => '2913', 'article_category_id' => '91', 'title' => 'New Biz felicitates winners of essay competition', 'sub_title' => '', 'summary' => 'September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.', 'content' => '<p>September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.</p> <p>As part of the competition, college-level students were told to write an essay on ‘Investment Opportunities in Nepal’, or ‘Nepal’s Development Possibilities’. New Business Age’s Chairman and Editor-in-chief Madan Lamsal and Executive Editor Keshav Gautam handed over the prizes to the winners. A total of 150 students participated in the event to develop the writing skills of college students.</p> <p><img alt="" src="/userfiles/images/dfdfsd.jpg" style="height:552px; margin-left:10px; margin-right:10px; width:700px" /></p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2749', 'image' => '20150925013903_20150925072845_essay.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 6 => array( 'Article' => array( 'id' => '2907', 'article_category_id' => '1', 'title' => 'NB and NCC banks call off merger process ', 'sub_title' => '', 'summary' => 'September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. “The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.', 'content' => '<p><span style="font-size:14px"><strong>September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. </strong></span></p> <p><span style="font-size:14px"><strong>“The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. </strong></span></p> <p><span style="font-size:14px"><strong>The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.</strong></span></p> <p><span style="font-size:14px"><strong>At present paid-up capital of NCC bank is Rs.2.28 billion, and NB group has 30 percent share in the bank. But, with the issue of new directives by NRB, this figure will go down to 7.60 percent. Similarly, NB bank's paid up capital is Rs.2.43 billion; NB groups' stake there is 9 percent . When NB Bank raises its capital to Rs 8 billion, NB group’s stake will be limited to 2.73 percent. </strong></span></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2748', 'image' => '20150924025310_nb ncc.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 7 => array( 'Article' => array( 'id' => '2906', 'article_category_id' => '91', 'title' => 'Madhesi Morcha starts its blockade', 'sub_title' => '', 'summary' => 'September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.', 'content' => '<p>September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.</p> <p>The front, which has been imposing a general strike in eastern Terai for the last 42 days, has been protesting the federalism-related provisions of the new constitution, among others.</p> <p>In Birgunj, leaders Rajendra Mahato, Anil Jha, Shiva Patel and Pradip Yadav ares leading the protestors who are taking part in a sit-in in the border area.</p> <p>On Wednesday, the front’s meeting in Rajbiraj had decided to pile pressure on the government by imposing a blockade in the border and obstructing traffic on the highways. </p> <p>Meanwhile, the general public, and businessmen continue to bear the brunt of the shutdown. Traders have not been able to bring into the country raw material worth billions of rupees, and a shortage in daily supplies has made life difficult for common people. </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2747', 'image' => '20150924122617_fsdfdsfdsfsdf.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 8 => array( 'Article' => array( 'id' => '2909', 'article_category_id' => '1', 'title' => 'Second NYEF Entrepreneurship Boot Camp concludes', 'sub_title' => '', 'summary' => 'September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu. The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. ', 'content' => '<p><strong>September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu.</strong></p> <p><strong>The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. </strong></p> <p><strong>Over the three days, the participants got to refine their business idea based on the Business Model Canvas. They were encouraged to think outside the box to work on their ideas, all the while being constantly inquired about the idea's feasibility and scalability.</strong></p> <p><strong>The teams were encouraged to work on their idea based on the business model canvas. The mentors were there to help them and to provide practical insights. The jury for the final pitching session comprised Ashutosh Tiwari, CEO of Shrepa Adventure Gears; Ajay B. Pradhanang, Managing Director, Fleur Himalayan and Kevin C. Price, Economic & Commercial Officer, US Embassy. </strong></p> <p><strong>The first place went to Team Sipalu Sisters, whose idea was to start a Women-run two wheeler repair workshop. The second place went to team Shu Swagatam whose idea was to build roadside toilets on highways. In third place was team Care Age Home whose idea was to start a care home for the elderly.<br /> <br /> Sipalu Sisters also received a cash prize of Rs. 60, 000. All participants get access to NYEF’s pool of mentors.</strong></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2746', 'image' => '20150924050332_sy camp.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 9 => array( 'Article' => array( 'id' => '2902', 'article_category_id' => '91', 'title' => 'NMB Mutual Fund to launch three schemes worth Rs 1.28 billion', 'sub_title' => '', 'summary' => 'September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.', 'content' => '<p>September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.</p> <p>The three funds are NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. “We have sent the proposal to Sebon. We will be able to launch all three of the schemes after about two months,” said NMB Capital’s CEO Srijesh Ghimire.</p> <p>The schemes will have NMB Bank as its promoter and NMB Capital as its manager.</p> <p>According to NMB Capital, the L-1 Fund will have Rs 600 million, H-1 will have Rs 20.8 million and M-1 will have Rs 400 million.</p> <p>This is the first time that a mutual fund has been rated according to level of risk, in Nepal. According to the rating, ‘L’ funds have the least level of risk and ‘H’ funds have the highest level of risk associated with them.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2744', 'image' => null, 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '2900', 'article_category_id' => '91', 'title' => 'Who will be Sebon’s new Chairman?', 'sub_title' => '', 'summary' => 'September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.', 'content' => '<p>September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.</p> <p>According to sources, Dr Rewat Bahadur Karki and Kesav Acharya are in contention for the post, and who will be appointed chairman will depend on when Prime Minister Sushil Koirala will put in his papers.</p> <p>Sources says if the Koirala government stays, Karki is likely to be appointed to the post, and if Koirala resigns, Acharya is likely to get the job.</p> <p>The government on Friday formed a committee to nominate candidates for the post.</p> <p>The other names that are doing the rounds include Rabindra Pandey, Tanka Paneru and Mahesh Guragain. Among the ‘contenders’, Karki has 25 years of experience working at the central bank. He has also worked with IMF, Bank of Namibia and Gramin Bikash Bank. Pandey is former director of NRB, while Acharya is also a former central bank employee. Acharya was economic advisor to the Ministry of Finance during Bharat Mohan Adhikary and Surendra Pandey’s tenure as Finance Minister. </p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2743', 'image' => '20150923121359_fdjsfljsdl;f.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 11 => array( 'Article' => array( 'id' => '2904', 'article_category_id' => '91', 'title' => '150 ideas selected for Ncell App Camp 2015', 'sub_title' => '', 'summary' => 'September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.', 'content' => '<p>September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.</p> <p>The 150 were selected from a list of 728 that had applied to take part in the event. The deadline for this year was September 20. The list of names of the teams selected is also available on the event’s Android app, and on its website www.ncelappcamp.com.</p> <p>“We would like to thank all the interested teams for their overwhelming response and enthusiasm to contribute to important sectors like health and tourism with innovative solutions. The response demonstrates the digital potential that the country has,” said Ncell CEO Erim Taylanlar.</p> <p>This year, mobile app ideas compete under four categories—games and entertainment, tourism, health, and utilities. All categories, except tourism, are new to this year’s Ncell App Camp.</p> <p>The selection was made based on pre-announced judgment criteria: importance of problem the app aimed to solve, the app’s business potential, its global scalability, and how the teams could articulate and present their ideas. According to the organisers, of the 150 selected ideas, 37 are under the games and entertainment category, 38 in tourism, 38 in health and 37 in utilities categories.</p> <p>The selected teams will now participate in capacity-building seminars and trainings conducted by national and international experts in November. “Through the seminars and trainings the selected teams will get the opportunity to learn more about the app industry, further refine their ideas and learn the art of creating apps,” said Milan Sharma, Ncell’s corporate communications expert. </p> <p>The seminars also will have international figures sharing their experience and knowledge with the teams. Last year, Tomy Palm of Candy Crush was here to mentor the participants. Following the seminars and trainings, the teams will develop a working prototype of their app, which will be screened by industry experts, and the top 24 teams (six from each category), will be selected for the final. </p> <p>During the final, each team will receive one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas. The best team in each category will win a cash prize of Rs 250,000 and a grand winner from among them will win an additional cash prize of Rs 500,000, and an opportunity to participate in an international event in 2016.</p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2742', 'image' => '20150924113551_flksdjljsdlfj.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 12 => array( 'Article' => array( 'id' => '2899', 'article_category_id' => '91', 'title' => '23 IOC tankers enter Nepal after customs clearance from India', 'sub_title' => '', 'summary' => 'September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.', 'content' => '<p>September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.</p> <p>According to an official from Nepal Oil Corporation, the tankers entered Nepal on Tuesday afternoon after receiving clearance from the Indian customs.</p> <p>Earlier, Indian Oil Corporation had not allowed its petroleum tankers to enter Nepal for a few hours, citing security reasons. Indian officials have said they could not allow tankers to enter Nepal through Raxaul because of the security threat presented by the ongoing agitation in the Terai.</p> <p>The news came just a day after the Indian Ministry of External Affairs issued a statement expressing concerns over the safety of Indian freight operators.</p> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2741', 'image' => '20150922033725_20150922011444_tankers.jpg', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 13 => array( 'Article' => array( 'id' => '2897', 'article_category_id' => '91', 'title' => 'Another obstacle to 8 Billion Challenge: Promoters’ loans', 'sub_title' => '', 'summary' => 'September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.', 'content' => '<p>September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.</p> <p>From the time Governor Chiranjibi Nepal announced Nepal Rastra Bank’s Monetary Policy to make it mandatory for BFIs to raise their capital, the banks have said they need to overcome a multitude of challenges to comply with the new policy.</p> <p>Many banks, in their plan submitted to the central bank, have said they will enter into merger with other commercial banks to comply with the minimum capital requirement. However, they face yet another problem when going for mergers: the loans that the promoters have taken.</p> <p>According to the central bank regulations, a promoter cannot take loan from the bank he promotes. So if a bank, backed by say promoter ‘A’, merges with another bank, where promoter ‘A’ has a loan, he has to either clear the loan or shift it to another bank.</p> <p>The central bank’s Deputy Governor Maha Prasad Adhikary says, “This could cause problems when banks go for mergers. But the central bank will give time to shift the loans.” He said that as the existing rules regarding mergers give banks three years to remove legal complexities, the bank can give them time.</p> <p>The central bank maintains that the new policy was not intended to make banks enter into forceful mergers. In a recent interview with New Business Age, Governor Chiranjibi Nepal said banks are free to raise capital in any way want to (by getting JV partners, issuing right shares, FPOs, and so on).</p> <p> </p> <table border="1" cellpadding="0" cellspacing="0"> <tbody> <tr> <td> <p><strong>Company</strong></p> </td> <td> <p><strong>Number of Promoters</strong></p> </td> <td> <p><strong>Number BFIs from where loans issued against promoter share as collateral </strong></p> </td> <td> <p><strong>Amount in million</strong></p> </td> </tr> <tr> <td> <p>Bank of Kathmandu</p> </td> <td> <p>22</p> </td> <td> <p>16</p> </td> <td> <p>506.9</p> </td> </tr> <tr> <td> <p>Citizens Bank</p> </td> <td> <p>19</p> </td> <td> <p>13</p> </td> <td> <p>882.9</p> </td> </tr> <tr> <td> <p>Civil Bank</p> </td> <td> <p>8</p> </td> <td> <p>5</p> </td> <td> <p>29.7</p> </td> </tr> <tr> <td> <p>Everest Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>19.6</p> </td> </tr> <tr> <td> <p>Global IME Bank</p> </td> <td> <p>38</p> </td> <td> <p>17</p> </td> <td> <p>644.0</p> </td> </tr> <tr> <td> <p>Grand Bank</p> </td> <td> <p>18</p> </td> <td> <p>14</p> </td> <td> <p>207.0</p> </td> </tr> <tr> <td> <p>Himalayan Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>12.8</p> </td> </tr> <tr> <td> <p>Kumari Bank</p> </td> <td> <p>33</p> </td> <td> <p>24</p> </td> <td> <p>382.9</p> </td> </tr> <tr> <td> <p>Laxmi Bank</p> </td> <td> <p>3</p> </td> <td> <p>2</p> </td> <td> <p>13.9</p> </td> </tr> <tr> <td> <p>Lumbini Bank</p> </td> <td> <p>15</p> </td> <td> <p>13</p> </td> <td> <p>400.0</p> </td> </tr> <tr> <td> <p>Machhapuchre Bank</p> </td> <td> <p>20</p> </td> <td> <p>15</p> </td> <td> <p>379.0</p> </td> </tr> <tr> <td> <p>Nepal Bangladesh Bank</p> </td> <td> <p>14</p> </td> <td> <p>7</p> </td> <td> <p>150.7</p> </td> </tr> <tr> <td> <p>NCC Bank</p> </td> <td> <p>22</p> </td> <td> <p>11</p> </td> <td> <p>550.0</p> </td> </tr> <tr> <td> <p>Nepal Investment Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>440.0</p> </td> </tr> <tr> <td> <p>NIC Asia</p> </td> <td> <p>8</p> </td> <td> <p>8</p> </td> <td> <p>320.0</p> </td> </tr> <tr> <td> <p>NNB Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>150.0</p> </td> </tr> <tr> <td> <p>Prime commercial Bank</p> </td> <td> <p>31</p> </td> <td> <p>22</p> </td> <td> <p>530.0</p> </td> </tr> <tr> <td> <p>Sanima Bank</p> </td> <td> <p>11</p> </td> <td> <p>7</p> </td> <td> <p>201.1</p> </td> </tr> <tr> <td> <p>Sunrise Bank</p> </td> <td> <p>8</p> </td> <td> <p>6</p> </td> <td> <p>120.0</p> </td> </tr> </tbody> </table> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150922115612_cs.JPG', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 14 => array( 'Article' => array( 'id' => '2901', 'article_category_id' => '91', 'title' => 'Panasonic launches five new mobiles in Nepal', 'sub_title' => '', 'summary' => 'September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, launched has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.', 'content' => '<p>September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.</p> <p>The GD22 comes with 1.3 megapixels camera, Bluetooth, GPRS, Mobile tracker, LED torch, and supports dual SIM. This model is priced at Rs 2,329. Similarly, the T10 love comes with 512 Mb RAM and 4 GB ROM. The smartphone comes with 3.5 inch 480*800 display and 2-megapixel rear camera. The T10 is priced at Rs 5,490.</p> <p>The P55 novo comes with 1 GB RAM and 8 GB ROM. The smartphone with 5.3 inch screen is powered by 1.4GHZ octa-core processor and runs on android Kitkat operating system. It comes with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 15,400. </p> <p>The next model of P55 series, P55 novo+ comes with 2 GB RAM and 16 GB ROM. It has 5.3 inches HD display and runs in kitkat operating system. This Smartphone comes with 1.4 GHZ core processor with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 18,490. Likewise, Panasonic Eluga-Z comes with 5 inch AMOLED capacitive touchscreen, 2 GB RAM, 16 GB ROM and runs in kitkat O.S. This phone comes with 1.4 GHZ octa-core processor. Phone has 13 megapixels rear and 5 megapixels front camera. Market price of this model has been set at Rs 22,590. Flip cover will be given free to the buyers of P55 novo, P55 novo+ and Eluga-Z models.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150923023613_T10 copy.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ) ) $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' => '2914', 'article_category_id' => '91', 'title' => 'India’s unofficial embargo continues', 'sub_title' => '', 'summary' => ' September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.', 'content' => '<p> September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.</p> <p>The embargo has led to a shortage of petroleum products in almost all the parts of the country as Indian officials have not allowed trucks and tankers to enter Nepal through Biratnagar, Kakarbhitta, Nepalgunj, Birgunj and Sunauli. In Jogbani, the Indian town bordering Biratnagar, around 1,500 trucks are in a queue stretching up to Farbisgunj.</p> <p>Right after the promulgation of the constitution in Nepal, the southern neighbour has been expressing discontent over the major political parties’ failure to address the demands of the Madhesi parties. Indian officials deny that an embargo is in place, they maintain that they are worried about the safety of freight operators. During the last five days, only 314 trucks have entered Nepal carrying fuel and consumables. </p> ', 'published' => true, 'created' => '2015-09-27', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2754', 'image' => '20150927024344_fsdfsdfdsfdslj.jpg', 'article_date' => '2015-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 1 => array( 'Article' => array( 'id' => '2912', 'article_category_id' => '91', 'title' => 'Government decides to issue permits to establish new breweries and distilleries', 'sub_title' => '', 'summary' => 'September 25: The government has decided to lift a moratorium on the establishment of breweries and distilleries in the country. ', 'content' => '<p>September 25: The government has decided to lift a moratorium on the establishment of distilleries and breweries in the country. </p> <p>The decision was made by a meeting of the Industrial Promotion Board, held on September 18, under the chairmanship of Industry Minister Mahesh Basnet. </p> <p>The government had halted registration of new breweries and distilleries, and not allowed existing breweries to upgrade claiming liquor producers were not able to meet the required standard. However, the newly approved provision does not allow the entrepreneurs to establish a plant in Kathmandu and other sub-metropolitan cities, as well as near the southern part of Lumbini, and 15 km radius of Indo-Nepal border.</p> <p>Similarly, the meeting has also set new standards for registration and environmental assessment. Parties interested in operating a brewery or distillery will have to deposit Rs 500,000 for registration and an additional Rs 300,000 for its upgrade. The new provision also requires a brewery to employ at least one technician, microbiologist or chemist and a food specialist.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2753', 'image' => null, 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 2 => array( 'Article' => array( 'id' => '2911', 'article_category_id' => '91', 'title' => 'NRB directs BFIs to make capital increment plan public', 'sub_title' => '', 'summary' => 'September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.', 'content' => '<p>September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.</p> <p>The central bank had issued a September 17 deadline for BFIs to submit their plan to meet NRB’s minimum paid-up capital requirement. The bank had earlier directed BFIs to make their plan public through Nepal Stock Exchange, once it is approved by the central bank.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2752', 'image' => '20150925123918_fdfdsf.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 3 => array( 'Article' => array( 'id' => '2910', 'article_category_id' => '91', 'title' => 'NADA election: Sethia and Shrestha in contention for top post', 'sub_title' => '', 'summary' => 'September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.', 'content' => '<p>September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.</p> <p>Laxmi Intercontinental’s Managing Director Anjan Shrestha and ATC Pvt Ltd’s Managing Director Manoj Sethia have announced their candidacy for the post of president. Both Shrestha and Sethi were elected Vice-president during the last election.</p> <p>There are 356 voters in NADA. Shrestha and Sethia have both said that their focus would be on expanding NADA’s network around the country and to take steps to create an amicable environment for the business in Nepal.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2751', 'image' => '20150925120015_dfjdslkfjl.JPG', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 4 => array( 'Article' => array( 'id' => '2908', 'article_category_id' => '1', 'title' => 'Restaurants in Nepal can now make their own beer', 'sub_title' => '', 'summary' => 'September 24: The government has decided to restaurants with at least 20 seats to produce their own beer. The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector. The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.', 'content' => '<p><strong><span style="font-size:14px">September 24: The government has decided to restaurants with at least 20 seats to produce their own beer.</span></strong></p> <p><strong><span style="font-size:14px">The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector.</span></strong></p> <p><strong><span style="font-size:14px">The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.</span></strong></p> <p><strong><span style="font-size:14px">According to the standard, restaurants can only produce beverages that have up to 7 percent alcohol, and the restaurant should have the capacity to serve at least 20 customers at a given time. </span></strong></p> <p><strong><span style="font-size:14px">Maheswor Neupane, director general of Department of Industry, said that restaurants would require at least 10.5 million rupees to establish a micro brewery. According to Neupane, interested operators can sell maximum of 2.5million liters of beer per year.</span></strong></p> <p> </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2750', 'image' => '20150924044420_brewery.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 5 => array( 'Article' => array( 'id' => '2913', 'article_category_id' => '91', 'title' => 'New Biz felicitates winners of essay competition', 'sub_title' => '', 'summary' => 'September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.', 'content' => '<p>September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.</p> <p>As part of the competition, college-level students were told to write an essay on ‘Investment Opportunities in Nepal’, or ‘Nepal’s Development Possibilities’. New Business Age’s Chairman and Editor-in-chief Madan Lamsal and Executive Editor Keshav Gautam handed over the prizes to the winners. A total of 150 students participated in the event to develop the writing skills of college students.</p> <p><img alt="" src="/userfiles/images/dfdfsd.jpg" style="height:552px; margin-left:10px; margin-right:10px; width:700px" /></p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2749', 'image' => '20150925013903_20150925072845_essay.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 6 => array( 'Article' => array( 'id' => '2907', 'article_category_id' => '1', 'title' => 'NB and NCC banks call off merger process ', 'sub_title' => '', 'summary' => 'September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. “The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.', 'content' => '<p><span style="font-size:14px"><strong>September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. </strong></span></p> <p><span style="font-size:14px"><strong>“The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. </strong></span></p> <p><span style="font-size:14px"><strong>The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.</strong></span></p> <p><span style="font-size:14px"><strong>At present paid-up capital of NCC bank is Rs.2.28 billion, and NB group has 30 percent share in the bank. But, with the issue of new directives by NRB, this figure will go down to 7.60 percent. Similarly, NB bank's paid up capital is Rs.2.43 billion; NB groups' stake there is 9 percent . When NB Bank raises its capital to Rs 8 billion, NB group’s stake will be limited to 2.73 percent. </strong></span></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2748', 'image' => '20150924025310_nb ncc.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 7 => array( 'Article' => array( 'id' => '2906', 'article_category_id' => '91', 'title' => 'Madhesi Morcha starts its blockade', 'sub_title' => '', 'summary' => 'September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.', 'content' => '<p>September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.</p> <p>The front, which has been imposing a general strike in eastern Terai for the last 42 days, has been protesting the federalism-related provisions of the new constitution, among others.</p> <p>In Birgunj, leaders Rajendra Mahato, Anil Jha, Shiva Patel and Pradip Yadav ares leading the protestors who are taking part in a sit-in in the border area.</p> <p>On Wednesday, the front’s meeting in Rajbiraj had decided to pile pressure on the government by imposing a blockade in the border and obstructing traffic on the highways. </p> <p>Meanwhile, the general public, and businessmen continue to bear the brunt of the shutdown. Traders have not been able to bring into the country raw material worth billions of rupees, and a shortage in daily supplies has made life difficult for common people. </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2747', 'image' => '20150924122617_fsdfdsfdsfsdf.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 8 => array( 'Article' => array( 'id' => '2909', 'article_category_id' => '1', 'title' => 'Second NYEF Entrepreneurship Boot Camp concludes', 'sub_title' => '', 'summary' => 'September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu. The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. ', 'content' => '<p><strong>September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu.</strong></p> <p><strong>The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. </strong></p> <p><strong>Over the three days, the participants got to refine their business idea based on the Business Model Canvas. They were encouraged to think outside the box to work on their ideas, all the while being constantly inquired about the idea's feasibility and scalability.</strong></p> <p><strong>The teams were encouraged to work on their idea based on the business model canvas. The mentors were there to help them and to provide practical insights. The jury for the final pitching session comprised Ashutosh Tiwari, CEO of Shrepa Adventure Gears; Ajay B. Pradhanang, Managing Director, Fleur Himalayan and Kevin C. Price, Economic & Commercial Officer, US Embassy. </strong></p> <p><strong>The first place went to Team Sipalu Sisters, whose idea was to start a Women-run two wheeler repair workshop. The second place went to team Shu Swagatam whose idea was to build roadside toilets on highways. In third place was team Care Age Home whose idea was to start a care home for the elderly.<br /> <br /> Sipalu Sisters also received a cash prize of Rs. 60, 000. All participants get access to NYEF’s pool of mentors.</strong></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2746', 'image' => '20150924050332_sy camp.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 9 => array( 'Article' => array( 'id' => '2902', 'article_category_id' => '91', 'title' => 'NMB Mutual Fund to launch three schemes worth Rs 1.28 billion', 'sub_title' => '', 'summary' => 'September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.', 'content' => '<p>September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.</p> <p>The three funds are NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. “We have sent the proposal to Sebon. We will be able to launch all three of the schemes after about two months,” said NMB Capital’s CEO Srijesh Ghimire.</p> <p>The schemes will have NMB Bank as its promoter and NMB Capital as its manager.</p> <p>According to NMB Capital, the L-1 Fund will have Rs 600 million, H-1 will have Rs 20.8 million and M-1 will have Rs 400 million.</p> <p>This is the first time that a mutual fund has been rated according to level of risk, in Nepal. According to the rating, ‘L’ funds have the least level of risk and ‘H’ funds have the highest level of risk associated with them.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2744', 'image' => null, 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '2900', 'article_category_id' => '91', 'title' => 'Who will be Sebon’s new Chairman?', 'sub_title' => '', 'summary' => 'September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.', 'content' => '<p>September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.</p> <p>According to sources, Dr Rewat Bahadur Karki and Kesav Acharya are in contention for the post, and who will be appointed chairman will depend on when Prime Minister Sushil Koirala will put in his papers.</p> <p>Sources says if the Koirala government stays, Karki is likely to be appointed to the post, and if Koirala resigns, Acharya is likely to get the job.</p> <p>The government on Friday formed a committee to nominate candidates for the post.</p> <p>The other names that are doing the rounds include Rabindra Pandey, Tanka Paneru and Mahesh Guragain. Among the ‘contenders’, Karki has 25 years of experience working at the central bank. He has also worked with IMF, Bank of Namibia and Gramin Bikash Bank. Pandey is former director of NRB, while Acharya is also a former central bank employee. Acharya was economic advisor to the Ministry of Finance during Bharat Mohan Adhikary and Surendra Pandey’s tenure as Finance Minister. </p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2743', 'image' => '20150923121359_fdjsfljsdl;f.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 11 => array( 'Article' => array( 'id' => '2904', 'article_category_id' => '91', 'title' => '150 ideas selected for Ncell App Camp 2015', 'sub_title' => '', 'summary' => 'September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.', 'content' => '<p>September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.</p> <p>The 150 were selected from a list of 728 that had applied to take part in the event. The deadline for this year was September 20. The list of names of the teams selected is also available on the event’s Android app, and on its website www.ncelappcamp.com.</p> <p>“We would like to thank all the interested teams for their overwhelming response and enthusiasm to contribute to important sectors like health and tourism with innovative solutions. The response demonstrates the digital potential that the country has,” said Ncell CEO Erim Taylanlar.</p> <p>This year, mobile app ideas compete under four categories—games and entertainment, tourism, health, and utilities. All categories, except tourism, are new to this year’s Ncell App Camp.</p> <p>The selection was made based on pre-announced judgment criteria: importance of problem the app aimed to solve, the app’s business potential, its global scalability, and how the teams could articulate and present their ideas. According to the organisers, of the 150 selected ideas, 37 are under the games and entertainment category, 38 in tourism, 38 in health and 37 in utilities categories.</p> <p>The selected teams will now participate in capacity-building seminars and trainings conducted by national and international experts in November. “Through the seminars and trainings the selected teams will get the opportunity to learn more about the app industry, further refine their ideas and learn the art of creating apps,” said Milan Sharma, Ncell’s corporate communications expert. </p> <p>The seminars also will have international figures sharing their experience and knowledge with the teams. Last year, Tomy Palm of Candy Crush was here to mentor the participants. Following the seminars and trainings, the teams will develop a working prototype of their app, which will be screened by industry experts, and the top 24 teams (six from each category), will be selected for the final. </p> <p>During the final, each team will receive one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas. The best team in each category will win a cash prize of Rs 250,000 and a grand winner from among them will win an additional cash prize of Rs 500,000, and an opportunity to participate in an international event in 2016.</p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2742', 'image' => '20150924113551_flksdjljsdlfj.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 12 => array( 'Article' => array( 'id' => '2899', 'article_category_id' => '91', 'title' => '23 IOC tankers enter Nepal after customs clearance from India', 'sub_title' => '', 'summary' => 'September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.', 'content' => '<p>September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.</p> <p>According to an official from Nepal Oil Corporation, the tankers entered Nepal on Tuesday afternoon after receiving clearance from the Indian customs.</p> <p>Earlier, Indian Oil Corporation had not allowed its petroleum tankers to enter Nepal for a few hours, citing security reasons. Indian officials have said they could not allow tankers to enter Nepal through Raxaul because of the security threat presented by the ongoing agitation in the Terai.</p> <p>The news came just a day after the Indian Ministry of External Affairs issued a statement expressing concerns over the safety of Indian freight operators.</p> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2741', 'image' => '20150922033725_20150922011444_tankers.jpg', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 13 => array( 'Article' => array( 'id' => '2897', 'article_category_id' => '91', 'title' => 'Another obstacle to 8 Billion Challenge: Promoters’ loans', 'sub_title' => '', 'summary' => 'September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.', 'content' => '<p>September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.</p> <p>From the time Governor Chiranjibi Nepal announced Nepal Rastra Bank’s Monetary Policy to make it mandatory for BFIs to raise their capital, the banks have said they need to overcome a multitude of challenges to comply with the new policy.</p> <p>Many banks, in their plan submitted to the central bank, have said they will enter into merger with other commercial banks to comply with the minimum capital requirement. However, they face yet another problem when going for mergers: the loans that the promoters have taken.</p> <p>According to the central bank regulations, a promoter cannot take loan from the bank he promotes. So if a bank, backed by say promoter ‘A’, merges with another bank, where promoter ‘A’ has a loan, he has to either clear the loan or shift it to another bank.</p> <p>The central bank’s Deputy Governor Maha Prasad Adhikary says, “This could cause problems when banks go for mergers. But the central bank will give time to shift the loans.” He said that as the existing rules regarding mergers give banks three years to remove legal complexities, the bank can give them time.</p> <p>The central bank maintains that the new policy was not intended to make banks enter into forceful mergers. In a recent interview with New Business Age, Governor Chiranjibi Nepal said banks are free to raise capital in any way want to (by getting JV partners, issuing right shares, FPOs, and so on).</p> <p> </p> <table border="1" cellpadding="0" cellspacing="0"> <tbody> <tr> <td> <p><strong>Company</strong></p> </td> <td> <p><strong>Number of Promoters</strong></p> </td> <td> <p><strong>Number BFIs from where loans issued against promoter share as collateral </strong></p> </td> <td> <p><strong>Amount in million</strong></p> </td> </tr> <tr> <td> <p>Bank of Kathmandu</p> </td> <td> <p>22</p> </td> <td> <p>16</p> </td> <td> <p>506.9</p> </td> </tr> <tr> <td> <p>Citizens Bank</p> </td> <td> <p>19</p> </td> <td> <p>13</p> </td> <td> <p>882.9</p> </td> </tr> <tr> <td> <p>Civil Bank</p> </td> <td> <p>8</p> </td> <td> <p>5</p> </td> <td> <p>29.7</p> </td> </tr> <tr> <td> <p>Everest Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>19.6</p> </td> </tr> <tr> <td> <p>Global IME Bank</p> </td> <td> <p>38</p> </td> <td> <p>17</p> </td> <td> <p>644.0</p> </td> </tr> <tr> <td> <p>Grand Bank</p> </td> <td> <p>18</p> </td> <td> <p>14</p> </td> <td> <p>207.0</p> </td> </tr> <tr> <td> <p>Himalayan Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>12.8</p> </td> </tr> <tr> <td> <p>Kumari Bank</p> </td> <td> <p>33</p> </td> <td> <p>24</p> </td> <td> <p>382.9</p> </td> </tr> <tr> <td> <p>Laxmi Bank</p> </td> <td> <p>3</p> </td> <td> <p>2</p> </td> <td> <p>13.9</p> </td> </tr> <tr> <td> <p>Lumbini Bank</p> </td> <td> <p>15</p> </td> <td> <p>13</p> </td> <td> <p>400.0</p> </td> </tr> <tr> <td> <p>Machhapuchre Bank</p> </td> <td> <p>20</p> </td> <td> <p>15</p> </td> <td> <p>379.0</p> </td> </tr> <tr> <td> <p>Nepal Bangladesh Bank</p> </td> <td> <p>14</p> </td> <td> <p>7</p> </td> <td> <p>150.7</p> </td> </tr> <tr> <td> <p>NCC Bank</p> </td> <td> <p>22</p> </td> <td> <p>11</p> </td> <td> <p>550.0</p> </td> </tr> <tr> <td> <p>Nepal Investment Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>440.0</p> </td> </tr> <tr> <td> <p>NIC Asia</p> </td> <td> <p>8</p> </td> <td> <p>8</p> </td> <td> <p>320.0</p> </td> </tr> <tr> <td> <p>NNB Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>150.0</p> </td> </tr> <tr> <td> <p>Prime commercial Bank</p> </td> <td> <p>31</p> </td> <td> <p>22</p> </td> <td> <p>530.0</p> </td> </tr> <tr> <td> <p>Sanima Bank</p> </td> <td> <p>11</p> </td> <td> <p>7</p> </td> <td> <p>201.1</p> </td> </tr> <tr> <td> <p>Sunrise Bank</p> </td> <td> <p>8</p> </td> <td> <p>6</p> </td> <td> <p>120.0</p> </td> </tr> </tbody> </table> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150922115612_cs.JPG', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 14 => array( 'Article' => array( 'id' => '2901', 'article_category_id' => '91', 'title' => 'Panasonic launches five new mobiles in Nepal', 'sub_title' => '', 'summary' => 'September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, launched has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.', 'content' => '<p>September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.</p> <p>The GD22 comes with 1.3 megapixels camera, Bluetooth, GPRS, Mobile tracker, LED torch, and supports dual SIM. This model is priced at Rs 2,329. Similarly, the T10 love comes with 512 Mb RAM and 4 GB ROM. The smartphone comes with 3.5 inch 480*800 display and 2-megapixel rear camera. The T10 is priced at Rs 5,490.</p> <p>The P55 novo comes with 1 GB RAM and 8 GB ROM. The smartphone with 5.3 inch screen is powered by 1.4GHZ octa-core processor and runs on android Kitkat operating system. It comes with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 15,400. </p> <p>The next model of P55 series, P55 novo+ comes with 2 GB RAM and 16 GB ROM. It has 5.3 inches HD display and runs in kitkat operating system. This Smartphone comes with 1.4 GHZ core processor with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 18,490. Likewise, Panasonic Eluga-Z comes with 5 inch AMOLED capacitive touchscreen, 2 GB RAM, 16 GB ROM and runs in kitkat O.S. This phone comes with 1.4 GHZ octa-core processor. Phone has 13 megapixels rear and 5 megapixels front camera. Market price of this model has been set at Rs 22,590. Flip cover will be given free to the buyers of P55 novo, P55 novo+ and Eluga-Z models.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150923023613_T10 copy.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ) ) $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' => '2914', 'article_category_id' => '91', 'title' => 'India’s unofficial embargo continues', 'sub_title' => '', 'summary' => ' September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.', 'content' => '<p> September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.</p> <p>The embargo has led to a shortage of petroleum products in almost all the parts of the country as Indian officials have not allowed trucks and tankers to enter Nepal through Biratnagar, Kakarbhitta, Nepalgunj, Birgunj and Sunauli. In Jogbani, the Indian town bordering Biratnagar, around 1,500 trucks are in a queue stretching up to Farbisgunj.</p> <p>Right after the promulgation of the constitution in Nepal, the southern neighbour has been expressing discontent over the major political parties’ failure to address the demands of the Madhesi parties. Indian officials deny that an embargo is in place, they maintain that they are worried about the safety of freight operators. During the last five days, only 314 trucks have entered Nepal carrying fuel and consumables. </p> ', 'published' => true, 'created' => '2015-09-27', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2754', 'image' => '20150927024344_fsdfsdfdsfdslj.jpg', 'article_date' => '2015-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 1 => array( 'Article' => array( 'id' => '2912', 'article_category_id' => '91', 'title' => 'Government decides to issue permits to establish new breweries and distilleries', 'sub_title' => '', 'summary' => 'September 25: The government has decided to lift a moratorium on the establishment of breweries and distilleries in the country. ', 'content' => '<p>September 25: The government has decided to lift a moratorium on the establishment of distilleries and breweries in the country. </p> <p>The decision was made by a meeting of the Industrial Promotion Board, held on September 18, under the chairmanship of Industry Minister Mahesh Basnet. </p> <p>The government had halted registration of new breweries and distilleries, and not allowed existing breweries to upgrade claiming liquor producers were not able to meet the required standard. However, the newly approved provision does not allow the entrepreneurs to establish a plant in Kathmandu and other sub-metropolitan cities, as well as near the southern part of Lumbini, and 15 km radius of Indo-Nepal border.</p> <p>Similarly, the meeting has also set new standards for registration and environmental assessment. Parties interested in operating a brewery or distillery will have to deposit Rs 500,000 for registration and an additional Rs 300,000 for its upgrade. The new provision also requires a brewery to employ at least one technician, microbiologist or chemist and a food specialist.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2753', 'image' => null, 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 2 => array( 'Article' => array( 'id' => '2911', 'article_category_id' => '91', 'title' => 'NRB directs BFIs to make capital increment plan public', 'sub_title' => '', 'summary' => 'September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.', 'content' => '<p>September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.</p> <p>The central bank had issued a September 17 deadline for BFIs to submit their plan to meet NRB’s minimum paid-up capital requirement. The bank had earlier directed BFIs to make their plan public through Nepal Stock Exchange, once it is approved by the central bank.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2752', 'image' => '20150925123918_fdfdsf.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 3 => array( 'Article' => array( 'id' => '2910', 'article_category_id' => '91', 'title' => 'NADA election: Sethia and Shrestha in contention for top post', 'sub_title' => '', 'summary' => 'September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.', 'content' => '<p>September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.</p> <p>Laxmi Intercontinental’s Managing Director Anjan Shrestha and ATC Pvt Ltd’s Managing Director Manoj Sethia have announced their candidacy for the post of president. Both Shrestha and Sethi were elected Vice-president during the last election.</p> <p>There are 356 voters in NADA. Shrestha and Sethia have both said that their focus would be on expanding NADA’s network around the country and to take steps to create an amicable environment for the business in Nepal.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2751', 'image' => '20150925120015_dfjdslkfjl.JPG', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 4 => array( 'Article' => array( 'id' => '2908', 'article_category_id' => '1', 'title' => 'Restaurants in Nepal can now make their own beer', 'sub_title' => '', 'summary' => 'September 24: The government has decided to restaurants with at least 20 seats to produce their own beer. The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector. The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.', 'content' => '<p><strong><span style="font-size:14px">September 24: The government has decided to restaurants with at least 20 seats to produce their own beer.</span></strong></p> <p><strong><span style="font-size:14px">The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector.</span></strong></p> <p><strong><span style="font-size:14px">The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.</span></strong></p> <p><strong><span style="font-size:14px">According to the standard, restaurants can only produce beverages that have up to 7 percent alcohol, and the restaurant should have the capacity to serve at least 20 customers at a given time. </span></strong></p> <p><strong><span style="font-size:14px">Maheswor Neupane, director general of Department of Industry, said that restaurants would require at least 10.5 million rupees to establish a micro brewery. According to Neupane, interested operators can sell maximum of 2.5million liters of beer per year.</span></strong></p> <p> </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2750', 'image' => '20150924044420_brewery.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 5 => array( 'Article' => array( 'id' => '2913', 'article_category_id' => '91', 'title' => 'New Biz felicitates winners of essay competition', 'sub_title' => '', 'summary' => 'September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.', 'content' => '<p>September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.</p> <p>As part of the competition, college-level students were told to write an essay on ‘Investment Opportunities in Nepal’, or ‘Nepal’s Development Possibilities’. New Business Age’s Chairman and Editor-in-chief Madan Lamsal and Executive Editor Keshav Gautam handed over the prizes to the winners. A total of 150 students participated in the event to develop the writing skills of college students.</p> <p><img alt="" src="/userfiles/images/dfdfsd.jpg" style="height:552px; margin-left:10px; margin-right:10px; width:700px" /></p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2749', 'image' => '20150925013903_20150925072845_essay.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 6 => array( 'Article' => array( 'id' => '2907', 'article_category_id' => '1', 'title' => 'NB and NCC banks call off merger process ', 'sub_title' => '', 'summary' => 'September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. “The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.', 'content' => '<p><span style="font-size:14px"><strong>September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. </strong></span></p> <p><span style="font-size:14px"><strong>“The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. </strong></span></p> <p><span style="font-size:14px"><strong>The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.</strong></span></p> <p><span style="font-size:14px"><strong>At present paid-up capital of NCC bank is Rs.2.28 billion, and NB group has 30 percent share in the bank. But, with the issue of new directives by NRB, this figure will go down to 7.60 percent. Similarly, NB bank's paid up capital is Rs.2.43 billion; NB groups' stake there is 9 percent . When NB Bank raises its capital to Rs 8 billion, NB group’s stake will be limited to 2.73 percent. </strong></span></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2748', 'image' => '20150924025310_nb ncc.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 7 => array( 'Article' => array( 'id' => '2906', 'article_category_id' => '91', 'title' => 'Madhesi Morcha starts its blockade', 'sub_title' => '', 'summary' => 'September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.', 'content' => '<p>September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.</p> <p>The front, which has been imposing a general strike in eastern Terai for the last 42 days, has been protesting the federalism-related provisions of the new constitution, among others.</p> <p>In Birgunj, leaders Rajendra Mahato, Anil Jha, Shiva Patel and Pradip Yadav ares leading the protestors who are taking part in a sit-in in the border area.</p> <p>On Wednesday, the front’s meeting in Rajbiraj had decided to pile pressure on the government by imposing a blockade in the border and obstructing traffic on the highways. </p> <p>Meanwhile, the general public, and businessmen continue to bear the brunt of the shutdown. Traders have not been able to bring into the country raw material worth billions of rupees, and a shortage in daily supplies has made life difficult for common people. </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2747', 'image' => '20150924122617_fsdfdsfdsfsdf.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 8 => array( 'Article' => array( 'id' => '2909', 'article_category_id' => '1', 'title' => 'Second NYEF Entrepreneurship Boot Camp concludes', 'sub_title' => '', 'summary' => 'September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu. The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. ', 'content' => '<p><strong>September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu.</strong></p> <p><strong>The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. </strong></p> <p><strong>Over the three days, the participants got to refine their business idea based on the Business Model Canvas. They were encouraged to think outside the box to work on their ideas, all the while being constantly inquired about the idea's feasibility and scalability.</strong></p> <p><strong>The teams were encouraged to work on their idea based on the business model canvas. The mentors were there to help them and to provide practical insights. The jury for the final pitching session comprised Ashutosh Tiwari, CEO of Shrepa Adventure Gears; Ajay B. Pradhanang, Managing Director, Fleur Himalayan and Kevin C. Price, Economic & Commercial Officer, US Embassy. </strong></p> <p><strong>The first place went to Team Sipalu Sisters, whose idea was to start a Women-run two wheeler repair workshop. The second place went to team Shu Swagatam whose idea was to build roadside toilets on highways. In third place was team Care Age Home whose idea was to start a care home for the elderly.<br /> <br /> Sipalu Sisters also received a cash prize of Rs. 60, 000. All participants get access to NYEF’s pool of mentors.</strong></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2746', 'image' => '20150924050332_sy camp.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 9 => array( 'Article' => array( 'id' => '2902', 'article_category_id' => '91', 'title' => 'NMB Mutual Fund to launch three schemes worth Rs 1.28 billion', 'sub_title' => '', 'summary' => 'September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.', 'content' => '<p>September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.</p> <p>The three funds are NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. “We have sent the proposal to Sebon. We will be able to launch all three of the schemes after about two months,” said NMB Capital’s CEO Srijesh Ghimire.</p> <p>The schemes will have NMB Bank as its promoter and NMB Capital as its manager.</p> <p>According to NMB Capital, the L-1 Fund will have Rs 600 million, H-1 will have Rs 20.8 million and M-1 will have Rs 400 million.</p> <p>This is the first time that a mutual fund has been rated according to level of risk, in Nepal. According to the rating, ‘L’ funds have the least level of risk and ‘H’ funds have the highest level of risk associated with them.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2744', 'image' => null, 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '2900', 'article_category_id' => '91', 'title' => 'Who will be Sebon’s new Chairman?', 'sub_title' => '', 'summary' => 'September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.', 'content' => '<p>September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.</p> <p>According to sources, Dr Rewat Bahadur Karki and Kesav Acharya are in contention for the post, and who will be appointed chairman will depend on when Prime Minister Sushil Koirala will put in his papers.</p> <p>Sources says if the Koirala government stays, Karki is likely to be appointed to the post, and if Koirala resigns, Acharya is likely to get the job.</p> <p>The government on Friday formed a committee to nominate candidates for the post.</p> <p>The other names that are doing the rounds include Rabindra Pandey, Tanka Paneru and Mahesh Guragain. Among the ‘contenders’, Karki has 25 years of experience working at the central bank. He has also worked with IMF, Bank of Namibia and Gramin Bikash Bank. Pandey is former director of NRB, while Acharya is also a former central bank employee. Acharya was economic advisor to the Ministry of Finance during Bharat Mohan Adhikary and Surendra Pandey’s tenure as Finance Minister. </p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2743', 'image' => '20150923121359_fdjsfljsdl;f.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 11 => array( 'Article' => array( 'id' => '2904', 'article_category_id' => '91', 'title' => '150 ideas selected for Ncell App Camp 2015', 'sub_title' => '', 'summary' => 'September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.', 'content' => '<p>September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.</p> <p>The 150 were selected from a list of 728 that had applied to take part in the event. The deadline for this year was September 20. The list of names of the teams selected is also available on the event’s Android app, and on its website www.ncelappcamp.com.</p> <p>“We would like to thank all the interested teams for their overwhelming response and enthusiasm to contribute to important sectors like health and tourism with innovative solutions. The response demonstrates the digital potential that the country has,” said Ncell CEO Erim Taylanlar.</p> <p>This year, mobile app ideas compete under four categories—games and entertainment, tourism, health, and utilities. All categories, except tourism, are new to this year’s Ncell App Camp.</p> <p>The selection was made based on pre-announced judgment criteria: importance of problem the app aimed to solve, the app’s business potential, its global scalability, and how the teams could articulate and present their ideas. According to the organisers, of the 150 selected ideas, 37 are under the games and entertainment category, 38 in tourism, 38 in health and 37 in utilities categories.</p> <p>The selected teams will now participate in capacity-building seminars and trainings conducted by national and international experts in November. “Through the seminars and trainings the selected teams will get the opportunity to learn more about the app industry, further refine their ideas and learn the art of creating apps,” said Milan Sharma, Ncell’s corporate communications expert. </p> <p>The seminars also will have international figures sharing their experience and knowledge with the teams. Last year, Tomy Palm of Candy Crush was here to mentor the participants. Following the seminars and trainings, the teams will develop a working prototype of their app, which will be screened by industry experts, and the top 24 teams (six from each category), will be selected for the final. </p> <p>During the final, each team will receive one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas. The best team in each category will win a cash prize of Rs 250,000 and a grand winner from among them will win an additional cash prize of Rs 500,000, and an opportunity to participate in an international event in 2016.</p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2742', 'image' => '20150924113551_flksdjljsdlfj.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 12 => array( 'Article' => array( 'id' => '2899', 'article_category_id' => '91', 'title' => '23 IOC tankers enter Nepal after customs clearance from India', 'sub_title' => '', 'summary' => 'September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.', 'content' => '<p>September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.</p> <p>According to an official from Nepal Oil Corporation, the tankers entered Nepal on Tuesday afternoon after receiving clearance from the Indian customs.</p> <p>Earlier, Indian Oil Corporation had not allowed its petroleum tankers to enter Nepal for a few hours, citing security reasons. Indian officials have said they could not allow tankers to enter Nepal through Raxaul because of the security threat presented by the ongoing agitation in the Terai.</p> <p>The news came just a day after the Indian Ministry of External Affairs issued a statement expressing concerns over the safety of Indian freight operators.</p> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2741', 'image' => '20150922033725_20150922011444_tankers.jpg', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 13 => array( 'Article' => array( 'id' => '2897', 'article_category_id' => '91', 'title' => 'Another obstacle to 8 Billion Challenge: Promoters’ loans', 'sub_title' => '', 'summary' => 'September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.', 'content' => '<p>September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.</p> <p>From the time Governor Chiranjibi Nepal announced Nepal Rastra Bank’s Monetary Policy to make it mandatory for BFIs to raise their capital, the banks have said they need to overcome a multitude of challenges to comply with the new policy.</p> <p>Many banks, in their plan submitted to the central bank, have said they will enter into merger with other commercial banks to comply with the minimum capital requirement. However, they face yet another problem when going for mergers: the loans that the promoters have taken.</p> <p>According to the central bank regulations, a promoter cannot take loan from the bank he promotes. So if a bank, backed by say promoter ‘A’, merges with another bank, where promoter ‘A’ has a loan, he has to either clear the loan or shift it to another bank.</p> <p>The central bank’s Deputy Governor Maha Prasad Adhikary says, “This could cause problems when banks go for mergers. But the central bank will give time to shift the loans.” He said that as the existing rules regarding mergers give banks three years to remove legal complexities, the bank can give them time.</p> <p>The central bank maintains that the new policy was not intended to make banks enter into forceful mergers. In a recent interview with New Business Age, Governor Chiranjibi Nepal said banks are free to raise capital in any way want to (by getting JV partners, issuing right shares, FPOs, and so on).</p> <p> </p> <table border="1" cellpadding="0" cellspacing="0"> <tbody> <tr> <td> <p><strong>Company</strong></p> </td> <td> <p><strong>Number of Promoters</strong></p> </td> <td> <p><strong>Number BFIs from where loans issued against promoter share as collateral </strong></p> </td> <td> <p><strong>Amount in million</strong></p> </td> </tr> <tr> <td> <p>Bank of Kathmandu</p> </td> <td> <p>22</p> </td> <td> <p>16</p> </td> <td> <p>506.9</p> </td> </tr> <tr> <td> <p>Citizens Bank</p> </td> <td> <p>19</p> </td> <td> <p>13</p> </td> <td> <p>882.9</p> </td> </tr> <tr> <td> <p>Civil Bank</p> </td> <td> <p>8</p> </td> <td> <p>5</p> </td> <td> <p>29.7</p> </td> </tr> <tr> <td> <p>Everest Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>19.6</p> </td> </tr> <tr> <td> <p>Global IME Bank</p> </td> <td> <p>38</p> </td> <td> <p>17</p> </td> <td> <p>644.0</p> </td> </tr> <tr> <td> <p>Grand Bank</p> </td> <td> <p>18</p> </td> <td> <p>14</p> </td> <td> <p>207.0</p> </td> </tr> <tr> <td> <p>Himalayan Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>12.8</p> </td> </tr> <tr> <td> <p>Kumari Bank</p> </td> <td> <p>33</p> </td> <td> <p>24</p> </td> <td> <p>382.9</p> </td> </tr> <tr> <td> <p>Laxmi Bank</p> </td> <td> <p>3</p> </td> <td> <p>2</p> </td> <td> <p>13.9</p> </td> </tr> <tr> <td> <p>Lumbini Bank</p> </td> <td> <p>15</p> </td> <td> <p>13</p> </td> <td> <p>400.0</p> </td> </tr> <tr> <td> <p>Machhapuchre Bank</p> </td> <td> <p>20</p> </td> <td> <p>15</p> </td> <td> <p>379.0</p> </td> </tr> <tr> <td> <p>Nepal Bangladesh Bank</p> </td> <td> <p>14</p> </td> <td> <p>7</p> </td> <td> <p>150.7</p> </td> </tr> <tr> <td> <p>NCC Bank</p> </td> <td> <p>22</p> </td> <td> <p>11</p> </td> <td> <p>550.0</p> </td> </tr> <tr> <td> <p>Nepal Investment Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>440.0</p> </td> </tr> <tr> <td> <p>NIC Asia</p> </td> <td> <p>8</p> </td> <td> <p>8</p> </td> <td> <p>320.0</p> </td> </tr> <tr> <td> <p>NNB Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>150.0</p> </td> </tr> <tr> <td> <p>Prime commercial Bank</p> </td> <td> <p>31</p> </td> <td> <p>22</p> </td> <td> <p>530.0</p> </td> </tr> <tr> <td> <p>Sanima Bank</p> </td> <td> <p>11</p> </td> <td> <p>7</p> </td> <td> <p>201.1</p> </td> </tr> <tr> <td> <p>Sunrise Bank</p> </td> <td> <p>8</p> </td> <td> <p>6</p> </td> <td> <p>120.0</p> </td> </tr> </tbody> </table> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150922115612_cs.JPG', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 14 => array( 'Article' => array( 'id' => '2901', 'article_category_id' => '91', 'title' => 'Panasonic launches five new mobiles in Nepal', 'sub_title' => '', 'summary' => 'September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, launched has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.', 'content' => '<p>September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.</p> <p>The GD22 comes with 1.3 megapixels camera, Bluetooth, GPRS, Mobile tracker, LED torch, and supports dual SIM. This model is priced at Rs 2,329. Similarly, the T10 love comes with 512 Mb RAM and 4 GB ROM. The smartphone comes with 3.5 inch 480*800 display and 2-megapixel rear camera. The T10 is priced at Rs 5,490.</p> <p>The P55 novo comes with 1 GB RAM and 8 GB ROM. The smartphone with 5.3 inch screen is powered by 1.4GHZ octa-core processor and runs on android Kitkat operating system. It comes with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 15,400. </p> <p>The next model of P55 series, P55 novo+ comes with 2 GB RAM and 16 GB ROM. It has 5.3 inches HD display and runs in kitkat operating system. This Smartphone comes with 1.4 GHZ core processor with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 18,490. Likewise, Panasonic Eluga-Z comes with 5 inch AMOLED capacitive touchscreen, 2 GB RAM, 16 GB ROM and runs in kitkat O.S. This phone comes with 1.4 GHZ octa-core processor. Phone has 13 megapixels rear and 5 megapixels front camera. Market price of this model has been set at Rs 22,590. Flip cover will be given free to the buyers of P55 novo, P55 novo+ and Eluga-Z models.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150923023613_T10 copy.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2914', 'article_category_id' => '91', 'title' => 'India’s unofficial embargo continues', 'sub_title' => '', 'summary' => ' September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.', 'content' => '<p> September 27: Hundreds of trucks headed for Nepal have been stuck near the main trading points along the Indo-Nepal border as an ‘unofficial’ trade embargo imposed by India enters its fourth day.</p> <p>The embargo has led to a shortage of petroleum products in almost all the parts of the country as Indian officials have not allowed trucks and tankers to enter Nepal through Biratnagar, Kakarbhitta, Nepalgunj, Birgunj and Sunauli. In Jogbani, the Indian town bordering Biratnagar, around 1,500 trucks are in a queue stretching up to Farbisgunj.</p> <p>Right after the promulgation of the constitution in Nepal, the southern neighbour has been expressing discontent over the major political parties’ failure to address the demands of the Madhesi parties. Indian officials deny that an embargo is in place, they maintain that they are worried about the safety of freight operators. During the last five days, only 314 trucks have entered Nepal carrying fuel and consumables. </p> ', 'published' => true, 'created' => '2015-09-27', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2754', 'image' => '20150927024344_fsdfsdfdsfdslj.jpg', 'article_date' => '2015-09-27 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 1 => array( 'Article' => array( 'id' => '2912', 'article_category_id' => '91', 'title' => 'Government decides to issue permits to establish new breweries and distilleries', 'sub_title' => '', 'summary' => 'September 25: The government has decided to lift a moratorium on the establishment of breweries and distilleries in the country. ', 'content' => '<p>September 25: The government has decided to lift a moratorium on the establishment of distilleries and breweries in the country. </p> <p>The decision was made by a meeting of the Industrial Promotion Board, held on September 18, under the chairmanship of Industry Minister Mahesh Basnet. </p> <p>The government had halted registration of new breweries and distilleries, and not allowed existing breweries to upgrade claiming liquor producers were not able to meet the required standard. However, the newly approved provision does not allow the entrepreneurs to establish a plant in Kathmandu and other sub-metropolitan cities, as well as near the southern part of Lumbini, and 15 km radius of Indo-Nepal border.</p> <p>Similarly, the meeting has also set new standards for registration and environmental assessment. Parties interested in operating a brewery or distillery will have to deposit Rs 500,000 for registration and an additional Rs 300,000 for its upgrade. The new provision also requires a brewery to employ at least one technician, microbiologist or chemist and a food specialist.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-27', 'keywords' => '', 'description' => '', 'sortorder' => '2753', 'image' => null, 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 2 => array( 'Article' => array( 'id' => '2911', 'article_category_id' => '91', 'title' => 'NRB directs BFIs to make capital increment plan public', 'sub_title' => '', 'summary' => 'September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.', 'content' => '<p>September 25: Nepal Rastra Bank has directed bank and financial institutions publish their capital increment plan n their website.</p> <p>The central bank had issued a September 17 deadline for BFIs to submit their plan to meet NRB’s minimum paid-up capital requirement. The bank had earlier directed BFIs to make their plan public through Nepal Stock Exchange, once it is approved by the central bank.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2752', 'image' => '20150925123918_fdfdsf.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 3 => array( 'Article' => array( 'id' => '2910', 'article_category_id' => '91', 'title' => 'NADA election: Sethia and Shrestha in contention for top post', 'sub_title' => '', 'summary' => 'September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.', 'content' => '<p>September 25: Nepal Automobiles Dealers’ Association members are going to elect a new president, and other members of the executive committee on Friday.</p> <p>Laxmi Intercontinental’s Managing Director Anjan Shrestha and ATC Pvt Ltd’s Managing Director Manoj Sethia have announced their candidacy for the post of president. Both Shrestha and Sethi were elected Vice-president during the last election.</p> <p>There are 356 voters in NADA. Shrestha and Sethia have both said that their focus would be on expanding NADA’s network around the country and to take steps to create an amicable environment for the business in Nepal.</p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2751', 'image' => '20150925120015_dfjdslkfjl.JPG', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 4 => array( 'Article' => array( 'id' => '2908', 'article_category_id' => '1', 'title' => 'Restaurants in Nepal can now make their own beer', 'sub_title' => '', 'summary' => 'September 24: The government has decided to restaurants with at least 20 seats to produce their own beer. The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector. The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.', 'content' => '<p><strong><span style="font-size:14px">September 24: The government has decided to restaurants with at least 20 seats to produce their own beer.</span></strong></p> <p><strong><span style="font-size:14px">The decision was made in order to boost the tourism industry, officials said. A meeting of the Industrial Promotion Board (IPB), held under the chairmanship of Minister of Industry Mahesh Basnet, recently approved the proposal presented by the private sector.</span></strong></p> <p><strong><span style="font-size:14px">The ‘micro breweries’, which will be established under the new provisions, will play a significant role in promoting tourism, said minister Basnet. The meeting has also finalised the standards that micro breweries would have to meet.</span></strong></p> <p><strong><span style="font-size:14px">According to the standard, restaurants can only produce beverages that have up to 7 percent alcohol, and the restaurant should have the capacity to serve at least 20 customers at a given time. </span></strong></p> <p><strong><span style="font-size:14px">Maheswor Neupane, director general of Department of Industry, said that restaurants would require at least 10.5 million rupees to establish a micro brewery. According to Neupane, interested operators can sell maximum of 2.5million liters of beer per year.</span></strong></p> <p> </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2750', 'image' => '20150924044420_brewery.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 5 => array( 'Article' => array( 'id' => '2913', 'article_category_id' => '91', 'title' => 'New Biz felicitates winners of essay competition', 'sub_title' => '', 'summary' => 'September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.', 'content' => '<p>September 25: New Business Age Pvt Limited has felicitated the winners of this year’s essay competition.</p> <p>As part of the competition, college-level students were told to write an essay on ‘Investment Opportunities in Nepal’, or ‘Nepal’s Development Possibilities’. New Business Age’s Chairman and Editor-in-chief Madan Lamsal and Executive Editor Keshav Gautam handed over the prizes to the winners. A total of 150 students participated in the event to develop the writing skills of college students.</p> <p><img alt="" src="/userfiles/images/dfdfsd.jpg" style="height:552px; margin-left:10px; margin-right:10px; width:700px" /></p> ', 'published' => true, 'created' => '2015-09-25', 'modified' => '2015-09-25', 'keywords' => '', 'description' => '', 'sortorder' => '2749', 'image' => '20150925013903_20150925072845_essay.jpg', 'article_date' => '2015-09-25 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 6 => array( 'Article' => array( 'id' => '2907', 'article_category_id' => '1', 'title' => 'NB and NCC banks call off merger process ', 'sub_title' => '', 'summary' => 'September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. “The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.', 'content' => '<p><span style="font-size:14px"><strong>September 24: Nepal Bangladesh Bank and Nepal Credit and Commerce Bank (NCC) have called off their merger process. </strong></span></p> <p><span style="font-size:14px"><strong>“The bank's investors and employees were also not interested to go for merger. We had put in lot of efforts to make the banks merge,” says Nepal Rastra Bank official. </strong></span></p> <p><span style="font-size:14px"><strong>The central bank wanted the two banks to merge to dilute the shares of NB Group, whose members have been accused of financial mismanagement. Now after the new NRB policy to increase the minimum paid-up capital to Rs 8 billion, the group’s stake in the two banks will automatically get diluted as the group will not be able to invest more in the banks.</strong></span></p> <p><span style="font-size:14px"><strong>At present paid-up capital of NCC bank is Rs.2.28 billion, and NB group has 30 percent share in the bank. But, with the issue of new directives by NRB, this figure will go down to 7.60 percent. Similarly, NB bank's paid up capital is Rs.2.43 billion; NB groups' stake there is 9 percent . When NB Bank raises its capital to Rs 8 billion, NB group’s stake will be limited to 2.73 percent. </strong></span></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2748', 'image' => '20150924025310_nb ncc.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 7 => array( 'Article' => array( 'id' => '2906', 'article_category_id' => '91', 'title' => 'Madhesi Morcha starts its blockade', 'sub_title' => '', 'summary' => 'September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.', 'content' => '<p>September 24: Leaders and supporters of the United Democratic Madhesi Front (UDMF) have been gathering near crucial trading points on the Indo-Nepal border, a day after they announced that the front will impose a blockade on the border.</p> <p>The front, which has been imposing a general strike in eastern Terai for the last 42 days, has been protesting the federalism-related provisions of the new constitution, among others.</p> <p>In Birgunj, leaders Rajendra Mahato, Anil Jha, Shiva Patel and Pradip Yadav ares leading the protestors who are taking part in a sit-in in the border area.</p> <p>On Wednesday, the front’s meeting in Rajbiraj had decided to pile pressure on the government by imposing a blockade in the border and obstructing traffic on the highways. </p> <p>Meanwhile, the general public, and businessmen continue to bear the brunt of the shutdown. Traders have not been able to bring into the country raw material worth billions of rupees, and a shortage in daily supplies has made life difficult for common people. </p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2747', 'image' => '20150924122617_fsdfdsfdsfsdf.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 8 => array( 'Article' => array( 'id' => '2909', 'article_category_id' => '1', 'title' => 'Second NYEF Entrepreneurship Boot Camp concludes', 'sub_title' => '', 'summary' => 'September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu. The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. ', 'content' => '<p><strong>September 23: Nepalese Young Entrepreneurs’ Forum (NYEF), in association with US Embassy, Nepal, successfully organised the Second Entrepreneurship Boot Camp from September 21-23, 2015 at Gokarna Forest Resort, Kathmandu.</strong></p> <p><strong>The bootcamp was targeted at people with a strong and demonstrable interest in starting, or being involved in, the creation of a new business. Of the 140 people who applied, 29 were selected after multiple rounds to take part in the boot camp. The 29 participants were from diverse background, and many of them were from outside the valley. </strong></p> <p><strong>Over the three days, the participants got to refine their business idea based on the Business Model Canvas. They were encouraged to think outside the box to work on their ideas, all the while being constantly inquired about the idea's feasibility and scalability.</strong></p> <p><strong>The teams were encouraged to work on their idea based on the business model canvas. The mentors were there to help them and to provide practical insights. The jury for the final pitching session comprised Ashutosh Tiwari, CEO of Shrepa Adventure Gears; Ajay B. Pradhanang, Managing Director, Fleur Himalayan and Kevin C. Price, Economic & Commercial Officer, US Embassy. </strong></p> <p><strong>The first place went to Team Sipalu Sisters, whose idea was to start a Women-run two wheeler repair workshop. The second place went to team Shu Swagatam whose idea was to build roadside toilets on highways. In third place was team Care Age Home whose idea was to start a care home for the elderly.<br /> <br /> Sipalu Sisters also received a cash prize of Rs. 60, 000. All participants get access to NYEF’s pool of mentors.</strong></p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2746', 'image' => '20150924050332_sy camp.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '12' ) ), (int) 9 => array( 'Article' => array( 'id' => '2902', 'article_category_id' => '91', 'title' => 'NMB Mutual Fund to launch three schemes worth Rs 1.28 billion', 'sub_title' => '', 'summary' => 'September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.', 'content' => '<p>September 23: NMB Mutual Fund has said it is preparing to launch three new schemes worth Rs 1.28 billion.</p> <p>The three funds are NMB Hybrid Fund L-1, NMB Hybrid Fund H-1 and NMB Hybrid Fund M-1. “We have sent the proposal to Sebon. We will be able to launch all three of the schemes after about two months,” said NMB Capital’s CEO Srijesh Ghimire.</p> <p>The schemes will have NMB Bank as its promoter and NMB Capital as its manager.</p> <p>According to NMB Capital, the L-1 Fund will have Rs 600 million, H-1 will have Rs 20.8 million and M-1 will have Rs 400 million.</p> <p>This is the first time that a mutual fund has been rated according to level of risk, in Nepal. According to the rating, ‘L’ funds have the least level of risk and ‘H’ funds have the highest level of risk associated with them.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2744', 'image' => null, 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 10 => array( 'Article' => array( 'id' => '2900', 'article_category_id' => '91', 'title' => 'Who will be Sebon’s new Chairman?', 'sub_title' => '', 'summary' => 'September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.', 'content' => '<p>September 23: Two front-runners have emerged to fill the soon-to-be vacant post of Security and Exchange Board of Nepal (Sebon) Chairman.</p> <p>According to sources, Dr Rewat Bahadur Karki and Kesav Acharya are in contention for the post, and who will be appointed chairman will depend on when Prime Minister Sushil Koirala will put in his papers.</p> <p>Sources says if the Koirala government stays, Karki is likely to be appointed to the post, and if Koirala resigns, Acharya is likely to get the job.</p> <p>The government on Friday formed a committee to nominate candidates for the post.</p> <p>The other names that are doing the rounds include Rabindra Pandey, Tanka Paneru and Mahesh Guragain. Among the ‘contenders’, Karki has 25 years of experience working at the central bank. He has also worked with IMF, Bank of Namibia and Gramin Bikash Bank. Pandey is former director of NRB, while Acharya is also a former central bank employee. Acharya was economic advisor to the Ministry of Finance during Bharat Mohan Adhikary and Surendra Pandey’s tenure as Finance Minister. </p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-23', 'keywords' => '', 'description' => '', 'sortorder' => '2743', 'image' => '20150923121359_fdjsfljsdl;f.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 11 => array( 'Article' => array( 'id' => '2904', 'article_category_id' => '91', 'title' => '150 ideas selected for Ncell App Camp 2015', 'sub_title' => '', 'summary' => 'September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.', 'content' => '<p>September 24: Nepal’s leading mobile service provider Ncell has selected 150 teams for the second edition of Nepal’s biggest mobile app development conclave, Ncell App Camp.</p> <p>The 150 were selected from a list of 728 that had applied to take part in the event. The deadline for this year was September 20. The list of names of the teams selected is also available on the event’s Android app, and on its website www.ncelappcamp.com.</p> <p>“We would like to thank all the interested teams for their overwhelming response and enthusiasm to contribute to important sectors like health and tourism with innovative solutions. The response demonstrates the digital potential that the country has,” said Ncell CEO Erim Taylanlar.</p> <p>This year, mobile app ideas compete under four categories—games and entertainment, tourism, health, and utilities. All categories, except tourism, are new to this year’s Ncell App Camp.</p> <p>The selection was made based on pre-announced judgment criteria: importance of problem the app aimed to solve, the app’s business potential, its global scalability, and how the teams could articulate and present their ideas. According to the organisers, of the 150 selected ideas, 37 are under the games and entertainment category, 38 in tourism, 38 in health and 37 in utilities categories.</p> <p>The selected teams will now participate in capacity-building seminars and trainings conducted by national and international experts in November. “Through the seminars and trainings the selected teams will get the opportunity to learn more about the app industry, further refine their ideas and learn the art of creating apps,” said Milan Sharma, Ncell’s corporate communications expert. </p> <p>The seminars also will have international figures sharing their experience and knowledge with the teams. Last year, Tomy Palm of Candy Crush was here to mentor the participants. Following the seminars and trainings, the teams will develop a working prototype of their app, which will be screened by industry experts, and the top 24 teams (six from each category), will be selected for the final. </p> <p>During the final, each team will receive one-to-one mentorship on developing a business model, improving user interface and experience, and pitching their ideas. The best team in each category will win a cash prize of Rs 250,000 and a grand winner from among them will win an additional cash prize of Rs 500,000, and an opportunity to participate in an international event in 2016.</p> ', 'published' => true, 'created' => '2015-09-24', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2742', 'image' => '20150924113551_flksdjljsdlfj.jpg', 'article_date' => '2015-09-24 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 12 => array( 'Article' => array( 'id' => '2899', 'article_category_id' => '91', 'title' => '23 IOC tankers enter Nepal after customs clearance from India', 'sub_title' => '', 'summary' => 'September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.', 'content' => '<p>September 22: Twenty-three tankers ferrying petroleum from India to Nepal through Raxaul, India, have entered Nepal.</p> <p>According to an official from Nepal Oil Corporation, the tankers entered Nepal on Tuesday afternoon after receiving clearance from the Indian customs.</p> <p>Earlier, Indian Oil Corporation had not allowed its petroleum tankers to enter Nepal for a few hours, citing security reasons. Indian officials have said they could not allow tankers to enter Nepal through Raxaul because of the security threat presented by the ongoing agitation in the Terai.</p> <p>The news came just a day after the Indian Ministry of External Affairs issued a statement expressing concerns over the safety of Indian freight operators.</p> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2741', 'image' => '20150922033725_20150922011444_tankers.jpg', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 13 => array( 'Article' => array( 'id' => '2897', 'article_category_id' => '91', 'title' => 'Another obstacle to 8 Billion Challenge: Promoters’ loans', 'sub_title' => '', 'summary' => 'September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.', 'content' => '<p>September 22: The September 17 deadline set by the central bank has elapsed, and banks have submitted their plan to raise their paid-up capital to Rs 8 billion.</p> <p>From the time Governor Chiranjibi Nepal announced Nepal Rastra Bank’s Monetary Policy to make it mandatory for BFIs to raise their capital, the banks have said they need to overcome a multitude of challenges to comply with the new policy.</p> <p>Many banks, in their plan submitted to the central bank, have said they will enter into merger with other commercial banks to comply with the minimum capital requirement. However, they face yet another problem when going for mergers: the loans that the promoters have taken.</p> <p>According to the central bank regulations, a promoter cannot take loan from the bank he promotes. So if a bank, backed by say promoter ‘A’, merges with another bank, where promoter ‘A’ has a loan, he has to either clear the loan or shift it to another bank.</p> <p>The central bank’s Deputy Governor Maha Prasad Adhikary says, “This could cause problems when banks go for mergers. But the central bank will give time to shift the loans.” He said that as the existing rules regarding mergers give banks three years to remove legal complexities, the bank can give them time.</p> <p>The central bank maintains that the new policy was not intended to make banks enter into forceful mergers. In a recent interview with New Business Age, Governor Chiranjibi Nepal said banks are free to raise capital in any way want to (by getting JV partners, issuing right shares, FPOs, and so on).</p> <p> </p> <table border="1" cellpadding="0" cellspacing="0"> <tbody> <tr> <td> <p><strong>Company</strong></p> </td> <td> <p><strong>Number of Promoters</strong></p> </td> <td> <p><strong>Number BFIs from where loans issued against promoter share as collateral </strong></p> </td> <td> <p><strong>Amount in million</strong></p> </td> </tr> <tr> <td> <p>Bank of Kathmandu</p> </td> <td> <p>22</p> </td> <td> <p>16</p> </td> <td> <p>506.9</p> </td> </tr> <tr> <td> <p>Citizens Bank</p> </td> <td> <p>19</p> </td> <td> <p>13</p> </td> <td> <p>882.9</p> </td> </tr> <tr> <td> <p>Civil Bank</p> </td> <td> <p>8</p> </td> <td> <p>5</p> </td> <td> <p>29.7</p> </td> </tr> <tr> <td> <p>Everest Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>19.6</p> </td> </tr> <tr> <td> <p>Global IME Bank</p> </td> <td> <p>38</p> </td> <td> <p>17</p> </td> <td> <p>644.0</p> </td> </tr> <tr> <td> <p>Grand Bank</p> </td> <td> <p>18</p> </td> <td> <p>14</p> </td> <td> <p>207.0</p> </td> </tr> <tr> <td> <p>Himalayan Bank</p> </td> <td> <p>1</p> </td> <td> <p>1</p> </td> <td> <p>12.8</p> </td> </tr> <tr> <td> <p>Kumari Bank</p> </td> <td> <p>33</p> </td> <td> <p>24</p> </td> <td> <p>382.9</p> </td> </tr> <tr> <td> <p>Laxmi Bank</p> </td> <td> <p>3</p> </td> <td> <p>2</p> </td> <td> <p>13.9</p> </td> </tr> <tr> <td> <p>Lumbini Bank</p> </td> <td> <p>15</p> </td> <td> <p>13</p> </td> <td> <p>400.0</p> </td> </tr> <tr> <td> <p>Machhapuchre Bank</p> </td> <td> <p>20</p> </td> <td> <p>15</p> </td> <td> <p>379.0</p> </td> </tr> <tr> <td> <p>Nepal Bangladesh Bank</p> </td> <td> <p>14</p> </td> <td> <p>7</p> </td> <td> <p>150.7</p> </td> </tr> <tr> <td> <p>NCC Bank</p> </td> <td> <p>22</p> </td> <td> <p>11</p> </td> <td> <p>550.0</p> </td> </tr> <tr> <td> <p>Nepal Investment Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>440.0</p> </td> </tr> <tr> <td> <p>NIC Asia</p> </td> <td> <p>8</p> </td> <td> <p>8</p> </td> <td> <p>320.0</p> </td> </tr> <tr> <td> <p>NNB Bank</p> </td> <td> <p>6</p> </td> <td> <p>4</p> </td> <td> <p>150.0</p> </td> </tr> <tr> <td> <p>Prime commercial Bank</p> </td> <td> <p>31</p> </td> <td> <p>22</p> </td> <td> <p>530.0</p> </td> </tr> <tr> <td> <p>Sanima Bank</p> </td> <td> <p>11</p> </td> <td> <p>7</p> </td> <td> <p>201.1</p> </td> </tr> <tr> <td> <p>Sunrise Bank</p> </td> <td> <p>8</p> </td> <td> <p>6</p> </td> <td> <p>120.0</p> </td> </tr> </tbody> </table> ', 'published' => true, 'created' => '2015-09-22', 'modified' => '2015-09-22', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150922115612_cs.JPG', 'article_date' => '2015-09-22 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ), (int) 14 => array( 'Article' => array( 'id' => '2901', 'article_category_id' => '91', 'title' => 'Panasonic launches five new mobiles in Nepal', 'sub_title' => '', 'summary' => 'September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, launched has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.', 'content' => '<p>September 22: Panasonic has launched five new mobile phones in Nepal. Elite Trade link International, the authorised distributor of Panasonic Mobiles in Nepal, has launched GD22, TD22, T10 love, P55 Novo + and Eluga-Z.</p> <p>The GD22 comes with 1.3 megapixels camera, Bluetooth, GPRS, Mobile tracker, LED torch, and supports dual SIM. This model is priced at Rs 2,329. Similarly, the T10 love comes with 512 Mb RAM and 4 GB ROM. The smartphone comes with 3.5 inch 480*800 display and 2-megapixel rear camera. The T10 is priced at Rs 5,490.</p> <p>The P55 novo comes with 1 GB RAM and 8 GB ROM. The smartphone with 5.3 inch screen is powered by 1.4GHZ octa-core processor and runs on android Kitkat operating system. It comes with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 15,400. </p> <p>The next model of P55 series, P55 novo+ comes with 2 GB RAM and 16 GB ROM. It has 5.3 inches HD display and runs in kitkat operating system. This Smartphone comes with 1.4 GHZ core processor with 13 megapixels rear and 5 megapixels front camera and is priced at Rs 18,490. Likewise, Panasonic Eluga-Z comes with 5 inch AMOLED capacitive touchscreen, 2 GB RAM, 16 GB ROM and runs in kitkat O.S. This phone comes with 1.4 GHZ octa-core processor. Phone has 13 megapixels rear and 5 megapixels front camera. Market price of this model has been set at Rs 22,590. Flip cover will be given free to the buyers of P55 novo, P55 novo+ and Eluga-Z models.</p> ', 'published' => true, 'created' => '2015-09-23', 'modified' => '2015-09-24', 'keywords' => '', 'description' => '', 'sortorder' => '2740', 'image' => '20150923023613_T10 copy.jpg', 'article_date' => '2015-09-23 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '11' ) ) ) $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
