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			'title' => 'Compliance And Operational Risks In Mutual Funds',
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	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sushil Maharjan</strong></div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s only stock exchange, the Nepal Stock Exchange (NEPSE), has been thriving and attracting capital market investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Securities Board of Nepal (SEBON) received approval from the Nepali government under the Securities Act, 2007 to establish Mutual Fund Regulations, 2010 as well as the power to issue licences for mutual funds to be sold in Nepal. &nbsp;In 2010, the first two mutual fund companies were licenced by SEBON and more are in the pipeline. &nbsp;Nepal&rsquo;s first mutual funds have since become well-established businesses that have successfully launched other mutual fund schemes. &nbsp;In this brief period, SEBON has made new provisions to open secondary markets for non-resident Nepalis by making necessary amendments to Mutual Fund Regulations, 2010. &nbsp;I strongly believe, in the next five to ten years, there will be more diversity in the Nepalis capital market as the mutual fund industry continues to mature.</div>
<div>
	&nbsp;</div>
<div>
	We have seen the NEPSE reach a historical low of approximately 375 points back in 2006, and a high of approximately 1180 points in 2008, only for the index to reach an all-time low of approximately 292 points back in 2011. Although the NEPSE has had its share of bear and bull markets, however the index is on the brink of surpassing its highest point for 2013. &nbsp;Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets. &nbsp;Thus, the portfolio net asset&nbsp;</div>
<div>
	value affects mutual fund unit prices on a daily basis.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NAV of a mutual fund is derived from the value of the underlying securities held in the fund&rsquo;s portfolio, which is equal to the mutual fund&rsquo;s assets, less all of its liabilities. &nbsp;Many mutual funds use this number to determine the trading price for units of the fund. When investors buy and sell mutual funds, firms typically do so at the NAV; there is no secondary market in mutual fund units as the fund itself issues and redeems them.</div>
<div>
	&nbsp;</div>
<div>
	We know confident Nepali investors are a big boost to the capital market, though increased trading volume doesn&rsquo;t necessarily indicate that there is growing interest in the stock market; this may be because of reasons such as the improving political stability of Nepal, regulatory changes or available investment opportunities. &nbsp;Value investors see how well companies or stocks are performing within their mutual fund portfolios and measure the performance and returns of all funds across all mutual fund asset classes as well as of market indices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this changing and high-paced investment world, there are reasons to be concerned about mutual fund companies&rsquo; failure to adopt fair value pricing, which would help to avoid losses due to market timers and to manage emerging risk and market trends. &nbsp;Compliance plays a very big role in capital markets and investments, especially with Nepal&rsquo;s new mutual funds. &nbsp;Compliance is the strict following of a requirement, such as specific regulations, policies, standards or laws. &nbsp;The goal of regulatory compliance is to ensure that corporations or public agencies are made fully aware of relevant laws and regulations and take the necessary steps to follow them; this is vital in for Nepal&rsquo;s capital market and mutual industry to thrive. &nbsp;An increasing number of regulations and need for operational transparency will require that institutions that offer mutual funds adopt and consolidate their compliance controls, as this will ensure that all the necessary governance requirements can be met without duplication or inefficiency. &nbsp;Mutual fund trade processing, recordkeeping, and transaction flows strengthen mutual fund oversight programs and operations. We know that compliance rules have the potential to improve mutual fund company operations and that the independence of the compliance function is key to preventing violations and/or abuses of securities laws, regulations and mutual fund policies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One has to be very conscious of the various risk types associated with mutual funds. &nbsp;Operational risk cannot be overlooked; this arises from the individual systems and processes through which Nepal&rsquo;s mutual fund companies operate. &nbsp;Operational risk is stated in the Basel II regulations as the risk of loss resulting from inadequate or failed internal processes, people and systems or from any external events. &nbsp;As an investor, one must recognize that the people, processes and systems of any given company are imperfect, and that losses can occur due to errors and ineffective operations. &nbsp;Generally speaking, the volume of global financial transactions, combined with solid compliance reduces operational risk. &nbsp;However, I want to focus on mutual fund valuation risk and trading abuse. &nbsp;We know that assets can be overvalued or worth less than expected whenever they mature or are sold before then by brokers or dealers. &nbsp;Initiating institutions, brokers, custodian banks, fund administrators, transfer agents and auditors currently share their information electronically and their processes are already automated, thus raising the potential risks with respect to data management and valuations. &nbsp;As valuation risk affects transactions processing, front and back office operations, distribution, investment management as well as the private wealth and advisory services areas of mutual fund firms, I strongly believe that straightforward processes and trading strategies, dating and valuation techniques must be consistent throughout the trade processing cycle. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Stock Taking" src="/userfiles/images/st1%20(Copy).jpg" style="width: 550px; height: 597px; margin-left: 10px; margin-right: 10px;" /></strong></div>
<div>
	&nbsp;</div>
<div>
	From a mutual fund trade processing and recordkeeping standpoint, investors generally purchase, transfer in (or out), or sell fund units through multiple channels - either directly from the fund companies, or through various intermediaries, such as broker-dealers, financial advisors, banks and insurance companies. &nbsp;Settlement risk occurs when the counterparty does not deliver a mutual fund&rsquo;s value in cash as per its trading agreement with the other party upon the execution of trade instructions. &nbsp;This is particularly true for assets that have low liquidity and are not easily tradable in public exchanges. Moreover, issues associated with valuation risks go beyond the firm itself. Mitigating risks as much as possible will provide transparency and ensure the integrity and consistency of the data, models and processes used in making and reporting calculations in the valuation of mutual funds.</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size: 11px;">(Maharjan has extensive financial services industry experience and is currently with CIBC Mellon, Canada&rsquo;s Leader in Asset Servicing, jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon. &nbsp;This is not an official publication of CIBC Mellon. The views expressed are those of the author and are not necessarily those of CIBC Mellon or New Business Age.)</span></em></div>
<div>
	&nbsp;</div>',
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			'description' => 'Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets.',
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			'title' => 'Kathmandu On Wheels',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashika Pokharel</strong></div>
<div>
	&nbsp;</div>
<div>
	When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars. Whether it is to go to work or back to home after that, family trip, romantic drives, emergencies or weekend leave, reply is car. What initially started as a luxury has now, transformed into basic necessity. Even without comprising a personal car, people are always using vehicles in one way or the other. People have become more and more reliant on vehicle. The car has become a symbol of the modern urban setting with more and more people buying cars.</div>
<div>
	&nbsp;</div>
<div>
	Automobile market in Nepal is gaining momentum as the cars are gaining more popularity among many Nepalis. They are getting more attracted towards cars either as luxury or as their need. &nbsp;Previously, buying a car was beyond the budget of normal Nepali families. However, today the scenario is different. &nbsp;The roads filled with new cars in the town illustrate that Nepalis desire more cars. &nbsp;One of the key reasons behind their increasing desire can be loan facilities offered by many banks which make convenient for the average Nepali to afford new cars. While buying a new car only 20 to 30 percent down payment is required while rest of the money can be paid on monthly installment basis. Moreover, the demand of imported cars is on the rise despite the customs of 240 percent. Although the fuel price is routinelyrising, this has not created a negative impact for both the car buyers as well as the car seller. Another factor which has been encouraging the people to buy cars is the road expansion activities.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pooja International" src="/userfiles/images/tr1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Fuel versus cost efficient cars</strong></span></div>
<div>
	&nbsp;Cozy and fuel efficient cars are demanded by the customers. The customers usually go for those cars whose maintenance cost is low. &nbsp;Nepali customers prefer buying petrol cars as they have much more advantages over diesel cars. The advantages of a petrol car are that petrol engines do not create noise when being driven, maintenance of a petrol engine car is less and have a higher acceleration.&ldquo;Most of our customers buy cars for private use and they are mainly the short distanced drivers. People normally drive 15 to 20 Kms everyday. Therefore, petrol cars are really efficient and good option for that, says, Sajan Maharjan, Sales Manager at GO Ford. He further adds that diesel cars are less in demand in Nepal adding that only car rental companies use diesel cars.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Customers&rsquo; Preference</strong></span></div>
<div>
	&ldquo;The sales of smaller and spacious cars is gaining much popularity among the customers as the streets of Kathmandu are narrow, smaller cars are convenient to park and easier to drive in narrow roads&rdquo;, says Maharjan. Smaller cars are selected by the customers as they are cheaper than other SUV (Sport Utility Vehicle) or Sedan Cars. The price of smaller platform cars starts from Rs15.5 million. In Nepal, the sales of small cars like Eon, Santro, Swift, i10, i20, Grand i10, Alto are high as these are suitable cars for family and offer comfort along with some smart features. One of the causes behind their high preference is that they are Indian cars and due to this their maintenance cost becomes easy and the spare parts are easily available. &nbsp;&ldquo;While buying car the things which customers search for is that whether the car offers updated feature or not, how much fuel efficient it is, itsresale value, looks, good quality and cheap price&rdquo;, says, Dipesh Man Shakya, Deputy Manager at Laxmi Inter Continental &nbsp;Pvt.Ltd.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Street Problems</strong></span></div>
<div>
	&nbsp;Driving a luxurious car is a tough challenge as streets of Kathmandu are battered and full of pot holes. Similarly, the problem of traffic congestion does not allow smooth driving of vehicle.Therefore, in this context choosing smaller platform cars are, lot more advantageous as they have particularly high level of ground clearance which will have less contact with the road and provide a comfortable drive. Smaller cars are also more fuel efficient as they give high mileage compared to other luxurious cars.</div>
<div>
	&nbsp;</div>
<div>
	A high maintenance cost is required for the costly luxurious car as their parts and accessories are comparatively more costly than the simple smaller cars. Even fixing a small dent or a scratch in luxurious vehicles would simply mean to pour out more money. Although the main roads of Kathmandu have been expanded and still in process, the sub roads and inner streets are still smaller and this is just ideal for the smaller cars.</div>
<div>
	&nbsp;</div>
<div>
	It is also said that more CC engine in a car leads to more fuel consumption. Smaller and cheaper cars come with a less CC engine as compared to the other luxurious cars like SUVs. The smaller and cheaper cars like Maruti comes with an 800 CC engine, Santro comes with a 1000 CC engine, Hyundai i10 comes with an 1100 CC engine and Hyundai i20 Comes with a 1200 CC engine. This fact regarding the car&rsquo;s engine CC also plays an eminent role in fuel consumption and indicates the variation in its fuel mileage.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Car Selection</strong></span></div>
<div>
	People specifically in Kathmandu opt for these smaller cars which will offer good mileage with great built-in features. These features include safety features like inbuilt security alarm, air bag safety system, power steering system for a smoother vehicular control to an overall entertainment features like great powerful music speakers with a built-in Bluetooth system attached within the steering wheel itself. This even shows that in today&rsquo;s context smaller car industries are being more competitive in terms of providing their customers with the best detailed features in their car and available at an affordable price budget.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Kathmandu On Wheels" src="/userfiles/images/tr2.jpg" style="width: 550px; height: 192px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars.',
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			'id' => '2581',
			'article_category_id' => '52',
			'title' => 'When Bulls Run To Bush',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table. The Nepali bourse has often behaved beyond any rational expectations and market analysis. There was no reason for it to fall as low as below 300 in 2011 and even at present the speedy bull run is not fully justifiable. The index has climbed about 50 percent from 529 points in mid-July 2013 and to 780 mark on third week of January 2014.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepal Stock Exchange Index" src="/userfiles/images/editor1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 154px;" />Interestingly, this rise is witnessed when trading of stocks of a number of new companies, mainly the new commercial banks, began. The situation apparently is of over-supply and there has not been any substantial change in economic fundamentals to push the Index up, except the fact that last CA elections saw the defeat of hard-line communist forces, like Maoists. If the investment were to be made for returns, this political change alone would not perhaps be enough to ensure higher&nbsp;</div>
<div>
	yield. But, investors do not seem to be bothered by this.</div>
<div>
	&nbsp;</div>
<div>
	To some extent, the volatility of the market by its nature is understandable, but the reason d&rsquo;&ecirc;tre of this, generally, is however never beyond comprehension. At least, it should not have been the case given the availability of modern-technology assisted analysis, both fundamental and technical. But that is what exactly happening in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	When markets run amok, bullish or bearish, without any convincing economic explanation, there is no reason to be happy. Nepal&rsquo;s capital markets have some basic characters that make it very risky. It is not only unintegrated to the international market, but also lacks even a few traders who would trade in Nepse and some other international exchange, simultaneously. Therefore, the impact of international market in Nepali secondary market can be completely ruled out. The real sector, for all practical purposes, has no presence in the capital market and it is dominated by the financial service providers, a few hotels and lately some hydropower companies. This means, our capital market trends do not necessarily reflect the degree of fitness of our economy. And, except for some time-trained crooks, there are very few informed or educated investors, causing mismatch between the expectations and returns.</div>
<div>
	&nbsp;</div>
<div>
	The regulator is equally novice and naive. Political appointments of the people to the Stock Exchange Board who lack specific knowledge about the trade have made the situation worse. The most dangerous part is that, no public agency is even contemplating about the possibilities and procedures of listing more real sector, mainly manufacturing, companies into secondary market. It is indeed an uphill task since it requires much higher level of willingness of the private sector to register in the bourse. It in turn requires transparency at every step of the transaction of the companies from, imports, customs evaluation, VAT and excise, sales, and ultimate balance sheet and auditing. Nobody seems prepared for this mammoth task that has not only economic cost but also demands a high degree of business integrity and honesty.</div>
<div>
	&nbsp;</div>
<div>
	But, without bringing the real sectored on the trading screen, the rationale of the secondary market could hardly be justified. The result, it will continue to be victim of irrational volatility. The new government that will be formed soon should take three major steps: first appoint knowledgeable persons of the sector in the regulatory board, second create a joint platform of Nepal Rastra Bank, the Board, Ministry of Finance and the private sector to promote financial education about the secondary market and begin brain storming to identify the causes that are hindering real sector to enlist in Nepse and resolve them. Only this will create a credible stock market in Nepal.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table.',
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			'article_category_id' => '46',
			'title' => '“We Are On The Lead Position In SAARC Region”',
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	&nbsp;</div>
<div>
	<span style="font-size:16px;">Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year. The government recently picked <strong>Anoop Ranjan Bhattarai</strong>, who was previously serving as Director at the company&rsquo;s Wireless Telephone Directorate, to lead the company. Bhattarai is regarded as one of the few smart techies in Nepal with considerable knowledge of technological aspect of the telecom industry. Soon after he assumed the new position, he spoke to <strong>Siromani Dhungana</strong> of New Business Age about his plans for leading the company.<strong> Excerpt:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What does your appointment as MD of NTC promises to its consumers and stakeholders?&nbsp;</strong></span></div>
<div>
	My appointment as the Managing Director is a breakthrough to a 3-month-long deadlock in finalizing the organizational leadership. This appointment is the change for betterment; betterment for the organization, betterment for the staffs working here, and most importantly betterment for all our stakeholders. My tenure as MD of the organization will concentrate in providing world class advanced and consumer friendly telecom services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Some officials and even trade union representatives often talk about making reforms in the company. What areas are you planning to reform?&nbsp;</strong></span></div>
<div>
	My key areas for reform will center on improving company&rsquo;s work culture, increasing its efficiency, ensuring timely execution of projects and improving service delivery. If we pay appropriate attention to these sectors, our performance will improve and thereby enable use to remain competent in the free market economy.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Quality of service has often been controversial when we talk about Nepal Telecom. Even the regulator blames NT for flouting quality indicators. You are perceived as a person with guts to reform the company. How is your appointment going to change anything that Nepali consumers can feel the benefit?</strong></span></div>
<div>
	Of course, the quality of service in urban areas is going to be improved and these changes can be perceived within one month. After upgrading networks in urban areas, we will focus on improving quality of services in the rural areas. I assure our customers across the country that in a few months time there will be visible improvements in the quality of our services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Do you think you will be able to overcome political hurdles that might be obstructing the performance of Nepal Telecom?</strong></span></div>
<div>
	As a government owned company, all stakeholders including the political system, definitely wants to see it growing and increasing its contribution to national development. &nbsp;I do not think there will be any political hurdles that will obstruct growth of the company. All we have to do is ensure that all initiatives are conducted in transparent and reliable manner.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you tackle problems created by Public Procurement Act?</strong></span></div>
<div>
	At present, NT has to follow Public Procurement Act. Consultation process is going on with the Public Procurement Monitoring Office (PPMO) so as to refine or redefine the directive. I am confident that the ongoing as well as additional consultation processes will help NT move forward more efficiently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>News reports during last year claimed that NT provides unnecessary perks and facilities to officials at the Ministry of Information and Communication. What will you do to this end?</strong></span></div>
<div>
	I am not aware of such services being offered to the ministry or its officials. And the ministry has also not requested for the same from the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Successive leadership at NT has been failing to materialize the plan of bringing strategic partner to increase competency of the company. Can we expect anything tangible from you?</strong></span></div>
<div>
	The process for introducing strategic partner is gaining momentum. Within few weeks, NT will initiate the process. I am hopeful fresh initiatives will be successful in bringing strategic partner in the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you see the challenges from private operators at the moment? Will you bring specific plans to cope with those challenges?</strong></span></div>
<div>
	We offer diverse service and have a dominant presence throughout the nation. Our competitors are lagging far behind compared to us, in general. However, we have experienced competition in certain business aspects of telecommunication services. This has opened up new opportunities for NT to grow from within. We should accept challenges and take it as an opportunity to do even better in the future.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What new services can we expect from you?</strong></span></div>
<div>
	We have seen a huge demand for reliable and affordable data service in coming days. So we are mainly focusing on the same. In this fiscal year we will launch WiFi and FTTH (Fiber to the Home) services. Our expert team is also exploring the areas of service expansion. Naturally all our existing as well as prospective consumers demand reliable, diversified and advanced services from Nepal Telecom and as a service provider we are all working and focusing more on the same to make tangible improvement in the options and quality we offer. We also have plan to introduce new services like WiFi, countrywide 3G services through GSM and CDMA technologies and also have plans to provide our own Social Networking Service very soon.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What do you think the major challenges for the company are?</strong></span></div>
<div>
	Our major challenges, as of now, are:</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Bridge the digital divide</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Modernizing customer service&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Proceedings to introduce an international strategic partner</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Boost employees&rsquo; morale and improve work culture</div>
<div>
	These are some major challenges. The list may go even longer. We have to come out with appropriate solution for all challenges. I will put my effort to overcome these challenges during my tenure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Till the mid-80s, Nepal was considered as a country having the best telecom services in the region. What happened since then?</strong></span></div>
<div>
	NT has already launched 4G WIMAX service. We were the first to launch 3G services in the SAARC region. So technically speaking, we are still in leading position within the region and we will not let our achievements to go down.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>You have also expertise in modern technology. Please share your experience and plan to expand new technology including LTE?</strong></span></div>
<div>
	We have applied for frequency spectrum for LTE and once we get it, we will start deploying LTE in all major cities. Within 2015, we aim to provide LTE services throughout the nation.</div>',
			'published' => true,
			'created' => '2014-02-13',
			'modified' => '2014-02-18',
			'keywords' => 'new business age  interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal,  current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events,  ongoing  interview news of nepal',
			'description' => 'Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year.',
			'sortorder' => '2433',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2564',
			'article_category_id' => '109',
			'title' => 'Nepse Recovers Due To Buying Pressure',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country&#39;s capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Analysts say it is a natural recovery as the index was in decreasing trend during the last two weeks. They claim that though most listed companies have declared and distributed cash dividends and bonus shares, many investors are still shying away to invest to their full capacity even at current lower prices. &quot;Once they got the preferred stocks at the lower price, it is obvious to increase the demand for them which in turn boost up the index&rdquo;, said an analyst.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The recovery of stock market seems to have contributed by double-digit growth of hydropower, insurance and development bank sub-indices. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For the week, shares worth Rs 121.12 billion totalling 3.34 million units were traded in the stock market through 13148 transactions. Compared to the previous week, the turnover, number of transactions and unit of shares traded increased this week. This indicates that the selling pressure is reducing and the buying pressure is building up. Last week, Nepse index logged highest level of 785.78 points and lowest level of 769.51 points.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hydropower sub-index gained its position as the biggest gainer with 82.3 points for the week. Similarly, Insurance was the second in the line, which rose 59.53 points followed by Development Bank (16.62 points) and Finance (8.04 points). Similarly, trading sub-index increased by 5.92 points for the week while Manufacturing and Processing&#39;s sub-index remained unchanged throughout the week. The Hotels sub-index continued its losing streak as it was the biggest weekly loser with 7.01 points followed by Banking (1.9 points) and &#39;Others&#39; (1.18 points). Meanwhile, the Sensitive Index representing the share trading of blue chip stocks belonging to class &#39;A&#39; listed companies increased 0.36 points during the week. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/index1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country's capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.',
			'sortorder' => '2432',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2551',
			'article_category_id' => '137',
			'title' => 'Nepal Among The Weakest  In Securing Property Rights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index comprises of three key sub-indexes: Legal and Political Environment, Physical Property Rights and Intellectual Property Rights. The overall grading scale of the IPRI ranges from 0 to 10, where 10 indicates the highest value for a property rights system and 0 the lowest value within a country. Similarly, Nepal also fell among the weakest in securing intellectual property rights. With a score of 4.2 points, Nepal ranks 95 in intellectual property rights sub-index. It also fared poorly in terms of protecting intellectual property rights, patent protection and copyright protection.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, Nepal ranked 113 in legal and political environment sub-indexwith a meagre score of 3.3 points. &nbsp;The country&rsquo;s performance in judicial independence, rule of law, political stability, and control of corruption were also seen below par in the index, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Nepal performed better in physical property rights sub-index where it scored 6.0 points and ranked 68. In terms of protecting physical property rights the country scored a mediocre 5.0 points. Meanwhile the country performed strongly in registration of physical properties with a score of 9.5 points and achieving 6thspot among 130 countries in the index.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The IPRI 2013 has placed Nepal&rsquo;s southern and northern neighbours - India and China- on 57th position in the index. Sri Lanka, Pakistan and Bangladesh ranked 76, 118 and 126 respectively. According to the report, Singapore is the highest-ranking Asian country (rank-7, score-8.1 points). &nbsp;Finland, Sweden, New Zealand, Norway, Netherlands and Switzerland dominated the top-five spots whereas, Bangladesh, Libya, Venezuela, Burundi and Haiti were the bottom-five countries in IPRI 2013.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2505',
			'article_category_id' => '138',
			'title' => 'Unemployment On The Rise In South Asia: ILO',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the &lsquo;Global Employment Trends 2014&rsquo; report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region&rsquo;s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. &nbsp;&ldquo;The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth &ndash; growth that also leads to job creation in the formal economy,&rdquo; it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region&rsquo;s labour market. &ldquo;In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,&rdquo; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to ILO estimates Nepal&rsquo;s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region&rsquo;s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div>
<div>
	Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. &nbsp;The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.&rdquo;The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan&not;istan to 79.4 per cent in Nepal,&rdquo; it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div>
<div>
	ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. &ldquo;The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,&rdquo; ILO said. Based on the current trends, ILO said &ldquo;global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.',
			'sortorder' => '2430',
			'image' => null,
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	(int) 7 => array(
		'Article' => array(
			'id' => '2583',
			'article_category_id' => '40',
			'title' => 'New Nepal Government Setting The Economic Agenda',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By NBA Team</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali economy counts on post-election confidence. With the elections for the Constituent Assembly (CA) and the legislature parliament just concluded, general public and business leaders want one thing for certain &ndash; political stability and economic prosperity.</div>
<div>
	&nbsp;</div>
<div>
	Nepali business and consumers have been on a decade-long roller-coaster ride of unstable government with changes in leadership, epic legislative struggles and policy reversals culminating in what has amounted to a mess.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now there are rays of hopes. The return of political stability is expected everywhere. Business community is upbeat by the successful second CA election. As the liberal forces are going to take the helm of the government, all are waiting for a decisive outcome that can provide real relief to people. And, it is the business community which has been waiting for a favourable situation for their business and investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Decoding the Election Result</strong></span></div>
<div>
	People expressed their aspirations and exercised their power during this election to set the progressive course for issues that matter them the most. Interestingly, people filtered those parties who often take to the street to fulfill their demands but fail to deliver when they lead the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The victory of Nepali Congress in the urban areas clearly indicates that urban voters favour liberal economy. Similarly, the fact that majority of votes were secured by Nepali Congress reflects people&rsquo;s will to be led by a political party which is in favour of social harmony and cohesion.</div>
<div>
	&nbsp;</div>
<div>
	Needless to say that the business community was terrorized due to the hotpotch federal agenda put forth by UCPN (Maoist) and other ultra-leftist groups in a belligent manner. The recent poll results might have relieved the entire business community.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Business goes beyond the ethnicity. An entrepreneur from Madhesh has to do business in the hilly region and vice versa,&rdquo; says former finance secretary Rameshore Khanal. &ldquo;Political parties now should raise the issue of &lsquo;economic nationalism&rsquo; instead of creating tensions among various castes and classes,&rdquo; he remarks. In his words, policy stability and policy consistency is more important than caste and regional issues for development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Long Journey&nbsp;</strong></span></div>
<div>
	Nepal became the 147th member of the World Trade Organization (WTO) in 2004. It is now over two decades since the government adopted liberalization and a development model based on private enterprise and foreign investment, with the market forces as a major driver of the economy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, the government&rsquo;s initiatives for strengthening the private sector have been illusive over the last decade. With over decade-long experience, it is perhaps time to evaluate the advantages Nepal took from the WTO membership and way forward to get maximum advantages as a WTO member.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is now time to seriously revisit the deep trade deficit Nepal has continued to run, says Bhawani Rana, vice president of FNCCI, one of the private sector umbrella organizations. The new government needs to make an overview of our foreign investment trends and identify policy bottlenecks, she emphasizes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>We Can, If We Want</strong></span></div>
<div>
	In the early 1990s, the entire business environment was affected due to the people&rsquo;s movement. Democracy was recently restored. The country was in a state of euphoria as all had much expectation from the new democratic government. But the country&rsquo;s economic situation was not good as the overall economic indicators were in the red. Foreign reserve was depleted. In such a situation, Nepali Congress formed the government and was successful to bring economy back on track.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	That was thanks to the fact that one of the proponents of free market economy, Dr Ram Sharan Mahat took charge of the finance ministry. Though opponents blamed him for favouring economic giants, he despite criticism firmly advocated free market economy and that has proved to be the right decision. The country achieved a record high growth of 8.60 percent in the GDP in 1994.</div>
<div>
	&nbsp;</div>
<div>
	The situation after the 2013 election could hardly differ, hope the businessman and ordinary people. The situation is similar and so are the people&rsquo;s expectations. The early 1990s have proved that the economy can revive if the political leadership is committed for that, says economist Dr Jagadish Chandra Pokharel. A revival in confidence is sorely needed if the country is to deal with the slowdown in economic growth, he adds. The new government should facilitate the business environment. Stable policies and investment friendly mechanism help to make a recovery in business confidence, according to him. But, as NC this time is most likely to form the government with CPN-UML as almost equal partner, doubts are high wether the post-1990 miracle can be repeated. When CPN-UML came to power replacing NC during post-1990 period, it had reversed some crucial policies adopted by NC.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Fear Side</strong></span></div>
<div>
	Moreover, the country&rsquo;s economic sector is not completely terror-free. The Baidya-led ultra-left communist party may create troubles for the sake of making its presence feel. Given Nepal&rsquo;s immediate past, communal and caste issues may resonate strongly in the country&rsquo;s psyche, across the wide-ranging social and economic strata. Understandably, left-extremism (including UCPN-Maoist) may try to create trouble given the humiliating loss experienced by them in the latest polls. Though their presence has significantly reduced in the national politics, left-extremism may try to fuel labour issues to create trouble in the industrial relations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Economists, however, argue that the economy and its development, and distribution of benefits, are at least as important as the emotional issue about communities, castes and class politics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It&rsquo;s clear that uncertainty over policy regime and regulations has been a hindrance to foster investment climate in the country,&rdquo; says businessman Pashupati Murarka.</div>
<div>
	&nbsp;</div>
<div>
	The only way out from the existing chaotic situation is to create more and more jobs in the country, Murarka reiterates. The country cannot get rid of political instability until the youths are left jobless, he claims.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Silver Lining&nbsp;</strong></span></div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success&nbsp;</div>
<div>
	or failure.</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was good enough to maintain its basic economic indicators in the positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s micro as well as macroeconomic indicators are positive. &ldquo;We have sufficient foreign currency reserves,&rdquo; says joint secretary at the finance ministry Madhu Kumar Marasini. He underlines the need for utilizing the remittance inflow in the productive sector. &ldquo;All we need is proper management of our own resources to open new avenues of development,&rdquo; he opines.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. And, it is sure that the country can improve its economic indicators if we get visionary leadership, claims former finance secretary Rameshore Khanal.</div>
<div>
	&nbsp;</div>
<div>
	Nepal has made significant progress in various sectors including health, education, drinking water and telecommunication which clearly shows that the country&rsquo;s economy is ready to take off and all it needs is a runway to move on.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>The Issue of New Constitution&nbsp;</strong></span></div>
<div>
	Drafting the new constitution is going to be an uphill task. There are many differences among political parties. But, the country cannot bear perennial transition. It is the need of the hour to fulfill the aspirations and dreams of the people in a positive manner.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Underdevelopment creates multiple problems. It fuels the frustration and pessimism among people which is not good for country&rsquo;s economic health. And, politicians often blame the political transition for the dysfunction of development. In order to end the culture of blame game, we need the constitution which can end the existing political fiasco.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The business community wants this government to draft the constitution on time, opines Rajan Singh Bhandari. The economy cannot go ahead in an ad-hoc basis forever. This fact should be realized by all political parties and they need to draft the new constitution and promulgate it within the stipulated time, he adds.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Conclusion&nbsp;</strong></span></div>
<div>
	Many leaders often express the hopes of transforming Nepal into another Switzerland. And, it is not a far cry if we try. Can economic prosperity be achieved in a country that reels under perennial political problems? Entrepreneur Hari Bhakta Sharma says, &ldquo;Yes, we can achieve economic prosperity.&rdquo; We can achieve every success if there is collective effort from the government and the private sector and positive vibes for development among people, he claims.&nbsp;</div>
<div>
	It is widely believed that the new government will be successful to take a decisive role to make our collective dream of becoming rich and prosperous a reality. And, we all need to be clear that the economic prosperity is not meant only for business community but for all of us. Let us make a collective dream and start the journey of becoming a prosperous nation. It is a fact: &ldquo;United we stand and divided we fall.&rdquo; Let&rsquo;s make a collective effort to be the citizens of a prosperous country.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Cover Story" src="/userfiles/images/cs1%20(Copy)(3).jpg" style="width: 575px; height: 570px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-12',
			'modified' => '2014-02-17',
			'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal,  current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events,  ongoing  cover story news of nepal',
			'description' => 'The results of the second Constituent Assembly (CA) election show that parties contesting on very radical economic ideologies have been rejected by the voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in the urban areas across the nation.',
			'sortorder' => '2429',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2563',
			'article_category_id' => '134',
			'title' => '‘The Corporate Sector Must Lead MAN’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Janak Raj Shah</strong> is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7).<strong> Akhilesh Tripathi</strong> of The Corporate caught up with Shah, a former National Planning Commission member, for an interview. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the objectives of MAN? How successful has MAN been to achieve its objectives?</strong></span></div>
<div>
	Established in 1979, MAN is a nongovernmental organization and the apex body of management professionals in Nepal. It&rsquo;s a think tank with active support of the country&rsquo;s corporate sector. It has a strong membership base of over 2,000 individuals and 250 institutions from different disciplines and sectors of Nepali economy and society. It also provides policy recommendations to the government.</div>
<div>
	&nbsp;</div>
<div>
	The main objective of MAN is to apply, develop and promote management science and make necessary arrangements to offer such knowledge in Nepal. The other objectives are: bringing professionals and institutes related to management development under one umbrella through networking so as to facilitate interaction, innovation and pro-active involvement for promoting management professionalism; consolidating management development through education, training, research, consulting and information services; and keeping members informed of new developments in professional management approaches and their uses.</div>
<div>
	&nbsp;</div>
<div>
	MAN has been pursuing various activities to achieve these objectives for the last 33 years. These activities include interactive sessions, researches/studies and consultancies, EMBA program, professional training courses, bestowing management awards, membership expansion drive, institutional networking and so on.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>MAN executive committee and its general membership are dominated by bureaucrats. Why is the participation low by the corporate sector?</strong></span></div>
<div>
	The situation was like that in the past. For a long time, the pro-activeness of bureaucrats contributed a lot to MAN&rsquo;s activities. The situation has started to change now. The number of MAN members from the corporate sector has been increasing. They are contributing to MAN&#39;s activities directly and indirectly. I am of the opinion that the corporate sector must lead MAN as per its vision and objectives. Realising this fact, we are inviting managers from the corporate sector to participle in MAN&rsquo;s activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your achievements as MAN President for two consecutive terms?</strong></span></div>
<div>
	I have successfully completed two terms as MAN President. I am satisfied with the performance of MAN. However, we have to do a lot in the time to come. &nbsp;We have worked for preparing and implementing MAN&#39;s strategy to increase its height in the field of management development. We are successfully running an EMBA programme of Purbanchal University. We have been able to open MAN&#39;s Chapters in Pokhara, Dhangadhi and Biratnagar. I am optimistic that other Chapters will be opened in other parts of the country. One of MAN initiatives, the Management Development Campus, was able to receive the Best B-School Award 2010 from the CMO Council. As the president of MAN, I received the &#39;Golden Star Academic &amp; Educational Excellence Award 2013&#39; under Education Leadership Award at the &lsquo;World Marketing Summit, Malayasia 2013&#39; - a Philip Kotler Initiative for a Better World.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the things that you wanted to do but couldn&#39;t do because of various reasons?</strong></span></div>
<div>
	I had a dream of having MAN&rsquo;s own building to expand its activities smoothly and efficiently. During my tenure, I could not materialize this dream of infrastructure development. The participation from the corporate sector in MAN&#39;s activities is limited. However, I tried my level best to bring the private sector, more specifically the corporate sector, to this forum. The government&rsquo;s support to MAN&#39;s activities is not adequate though the government has helped us by sending students to our EMBA programme and providing us some grants every year.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the international organizations that MAN is affiliated with? What benefits in terms of knowledge sharing has MAN got from this affiliation?</strong></span></div>
<div>
	MAN is one of the founding members of the Asian Association of Management Organizations (AAMO) which is working in the Asia Pacific region. It has also close links with the American Management Association (AMA), All India Management Association (AIMA), North India Management Association (NIMA) and many others. We have also signed MoUs with other national and international organizations such as AAMO, Rai Foundation, and NIMA for scholarship programmes. These linkages have helped MAN to have access to information on the best management practices and techniques available in other parts of the world.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are MAN&rsquo;s challenges?</strong></span></div>
<div>
	Resource constraint is the main challenge which has affected the sustainability of MAN&rsquo;s activities. Limited participation of Man&rsquo;s members in its activities is another challenge. Having MAN&rsquo;s own building is yet another challenge. This has been my dream as well. To turn the dream into reality, we made our level best efforts and even requested the government to provide us land in the &lsquo;right to use&rsquo; (BHOGADHIKAR) mode as other similar non-governmental organizations have got land from the government. But this process is yet to reach a logical conclusion. If we could meet these challenges, MAN&rsquo;s activities could be run in a sustainable way.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your expectations from the new Executive Committee?</strong></span></div>
<div>
	I have many expectations from the new executive committee to be elected. I am optimistic that new team will add some bricks for the overall development of MAN. The prospective executive committee members in scene are well-known professionals from different sectors and as dedicated successor they deserve to lead the MAN ahead. So I shall be more than happy to handover MAN to the new team. I would like to suggest to the new team that they should focus themselves on MAN activities such as adding value to trainings, EMBA programme and research. MAN&rsquo;s roadmap is clear with its strategic vision and objectives. But it needs to be backed by the action plan which is lagging behind. Therefore, they should create an environment and motivate MAN members to contribute by participating in the various sub committees. Equally, the attention should be given to infrastructure development of MAN. For your kind information, I also will be there as the part of team as an executive member in the capacity of Immediate Past President (IPP). MAN believes in togetherness and cooperation, so again it is my pride to be there to contribute to MAN in the future as well.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Janak Raj Shah is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7). Akhilesh Tripathi of The Corporate caught up with Shah, a former National Planning Commission member, for an interview.',
			'sortorder' => '2428',
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2578',
			'article_category_id' => '206',
			'title' => 'LG G2: Twice The Genius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--BY Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="LG G2" src="/userfiles/images/lg%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 262px;" />LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone. In terms of hardware specifications, the G2 is among the most powerful smartphones that money can buy. The phone is powered by a quad-core 2.26 GHz Krait 400 processor clocked at 2.26GHz which uses the latest Qualcomm MSM8974 Snapdragon 800 chipset. &nbsp;Similarly, with LPDDR3 2 GB RAM and Adreno 330 GPU, G2 can handle most of the heavy tasks very easily. Be it high-end mobile gaming or multitasking, the phone runs smoothly without showing any sign of snag.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The G2 sports a 5.2 inch True HD-IPS + LCD capacitive touch screen protected by Corning Gorilla Glass 2. The front of the phone looks attractive with and exceptionally thin bezel. The company calls it &#39;near zero bezel&#39; for &#39;edge to edge viewing&#39;. With 442 ppi pixel density, its screen has a resolution of 1080 X 1980 pixels which gives vibrant and crisp display. G2 uses Graphic RAM (GRAM) technology that claims to reduce the display&acute;s energy use by 25 percent. On top of Android Jelly Bean 4.2.2 OS, G2 runs on LG&#39;s Optimus UI. The OS has its own unique customizations with features like guest mode (multiple user option) and KnockON (unlock/lock phone with a double tap on the screen) among others. G2&#39;s build is excellent as it has a high-gloss plastic body. The phone feels lighter in hand weighing just 143 grams.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	G2 houses a powerful camera system. A 13 megapixel snapper sits on its back while the front side sports a 2.1 MP secondary shooter. Both cameras can be activated simultaneously. The primary camera comes with optical image stabilization which also features HDR mode. Users can capture photos at a max resolution of 4160 x 3120 pixels. With the primary camera, the G2 records 1080p videos at 60 fps along with the front camera shooting full HD videos at 30 fps. Physical buttons are absent throughout the sides. Strangely, it houses all the buttons (power key and volume rocker) at the back of the phone, just below the secondary camera. Users can have awesome sound experience with G2 as it is packed with Dolby mobile sound enhancement. Audio Zoom is another special feature which lets users zero in on a sound source, simply by zooming in on the subject while shooting a video. The phone also houses a stereo FM radio with RDS.</div>
<div>
	&nbsp;</div>
<div>
	On the power backup front, the phone has 3,000 mAh battery. It can give a backup for 34 hours of talk time on 2G and 15 hours on 3G. Storage, however, seems to be an issue. The G2 comes with 32 GB internal storage and does not have a microSD card slot for memory expansion. CG Impex Pvt Ltd, the authorised distributor of LG smartphone in Nepal launched G2 amid a function on February 4, Tuesday. The company has priced the smartphone at Rs 75,000 in the domestic market.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone.',
			'sortorder' => '2427',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2582',
			'article_category_id' => '153',
			'title' => 'Chyangra Pashmina Regains Warmth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Eliza Tuladhar</strong></div>
<div>
	&nbsp;</div>
<div>
	With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life. Pashmina product is one of the major exportable products of the country but the export of the product started declining in the early 2000 when the international market started importing Pashmina products from Chinese and the Indian Market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The loss of reputation has significantly affected the Pashmina that was a very strong export industry for Nepal. In the year 2000, the industry had exported Pashmina worth Rs 15 billion but it has reduced to a mere Rs 1 billion currently due to the cheap fake products that keep the market flooded.</div>
<div>
	&nbsp;</div>
<div>
	However now with the support of WTO/EIF Trading Stories project the Pashmina industrialist are hopeful to revive its international trading and minimize the threat created due to the increasing number of export from the Chinese and Indian market. According to Nepal Pashmina Industries Association (NPIA) President, Pushpa Man Shrestha, the association is hopeful that the project will start from March this year. &ldquo;The project under the WTO/EIF Trading Stories is a three years long project which will be basically focused on showcasing, Chyangra farming, production of raw material, Pashmina manufacturing process and finally its trading process,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The &lsquo;Pashmina Enhancement and Trade Support project under WTO aims to respond to trade related priorities in the Nepal Trade Integrated Strategies as well as to build sustainable local capacities and leverage additional resources from development partner pursuant to the goal. The project will contribute to achieving improved and increased export performance by at least 20 per cent. Chyangra Pashmina from Nepal is exported to more than 60 countries and the &lsquo;Chyangra&rsquo; trademark is registered in more than 40 of these countries.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Due to weak quality control and nominal productions of domestic raw materials, as well as lack of brand awareness of Nepali &lsquo;Chyangra Pashmina&rsquo; in the international market the export of Pashmina has been disturbed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>History of Pashmina</strong></span></div>
<div>
	Pashmina is the finest inner wool that grows as layer at the very bottom of thick and coarse fibre of Himalayan goat, locally known as chyangra (Capra Hircus), living above 2000 meter from the sea level. Each chyangra does produce 90 grams of Pashmina once a year. It is extracted from its body either by combing or by cutting during January to February. Pashmina is one of the finest, softest, warmest and lightest wool found in nature. In fact, it is the best wool in the world. Pashmina is known by different names like &ldquo;Diamond Fibre&rdquo; and &ldquo;Soft Gold of High Asia&rdquo;. It is unparalleled in uniqueness and elegance to any other fibres. The main raw materials used for producing Pashmina products are &lsquo;Pashmina Yarn&rsquo; and &lsquo;Silk Yarn&rsquo; plus dyes and chemicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pashmina in Nepal" src="/userfiles/images/pmn%20(Copy).jpg" style="width: 550px; height: 260px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Production of Pashmina&nbsp;</strong></span></div>
<div>
	The production process of pashmina product generally includes weaving, dyeing, processing, fringing, tassels, embroidery, beadwork, printing etc. Nepali Chyangra Pashmina, one of the major exportable product of the country is &lsquo;the softest, exotically, delicate, weightless and the finest insulating fibre of the world with high potential for export to the European market. The outer layer of Chyangra is discarded and only the inner layer of fibre measuring less than 16.5 microns is specified for use as Pashmina. These extraordinary characters of Pashmina fibres have encouraged weavers to produce various types of wraps for warmness. The exquisite characters of Nepali Chyangra Pashmina have established it as the most precious possession. The Pashmina fibre thus obtained from the Chyangra are spun into thin yarn which is woven to make different types of Pashmina products like blankets, shawls, stoles, scarves as well as pullovers, cardigans etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pricing of Pashmina products&nbsp;</strong></span></div>
<div>
	The price of Nepali Pashmina product basically depends upon its quality, ordering size, colour, design and size. Almost all of the Pashmina industries are concentrated in the Kathmandu Valley. They are absolutely export-oriented. However, it has been given the impression that as many as 5 per cent of its products may be consumed within the country. Pashmina products account for more than 50 per cent of the total export figure of the handicraft products. And it is the major export component under the handicraft goods category.</div>
<div>
	&nbsp;</div>
<div>
	The number of international export markets of Nepali Pashmina products exceeds 40 out of which, USA, Italy, Canada, UK, France, Japan, Germany and India are the major ones.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges faced by Nepali Chyangra Pashmina</strong></span></div>
<div>
	Nepali Pashmina industries need to import all the raw material. Pashmina Yarn and Silk Yarn are imported from China and India and Chemicals and dyes from Europe and India. It can be made of pure Pashmina yarn or by using both Pashmina yarn and Silk yarn in a certain proportion normally in the ratio of 70:30, depending upon the demand of the buyers. Fineness, softness, warmness, lightness, durability and craftsmanship are its inherent features. Shrestha also claimed that lower priced Indian Pashmina products have hit the market of Nepali Pashmina and has made it difficult to survive the growing price competition. Pashmina exporters also say that according to the international buyers, price of Nepali Pashmina products is around 30 per cent more than that of Indian products. Indian exporters can buy huge quantity of raw materials and have started their own spinning that has made their products more competitive in the international market.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pashmina industries in the country&nbsp;</strong></span></div>
<div>
	According to Nepal Pashmina Industries Association (NPIA) there are around 20 industries that have exports of around Rs one billion including exports to India. There are 300 Pashmina exporters registered at NPIA and out of them 20 have high production capacity and with good export figures. There are around two to four industries who also export Pashmina to India.</div>
<div>
	&nbsp;</div>
<div>
	Pashmina was famous across the world for the past couple of decades but with the introduction of low priced and fake Pashmina wool, the original Pashmina industry is fighting for existence. However the product is gradually being reintroduced as the brand &lsquo;Chyangra Pashmina&rsquo;. &ldquo;We have tried to reintroduce the Nepali Pashmina with the brand &lsquo;Chyangra Pashmina; and we hope that the WTO/EIF project will give us much required support to move ahead with promotion and development of new products and improvement of the products that will meet the demands of the international market,&rdquo; said Shrestha. The association along with the government has registered a collective trademark &lsquo;Chyangra Pashmina&rsquo; and its logo in the domestic and international markets to get rid of fake pashmina. Chyangra pashmina is now a registered brand in 41 countries. The association has also applied for its registration in South Africa, Brazil, Russia, Taiwan and the UAE.</div>
<div>
	&nbsp;</div>
<div>
	The World Trade Organization has recently developed trading stories of Pashmina to create awareness about the product and bring more opportunities for it in the international market. The Pashmina trading story includes each step of production &ndash;&ndash; from Chyangra farming to processing &ndash;&ndash; which will help create awareness about pure Chyangra Pashmina among the people in around 148 countries.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Shawl" src="/userfiles/images/1%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 50px; height: 102px;" />Shawl</strong></span></div>
							<div>
								Pashmina Shawls are the most exportable Nepali product. It is loosely worn over the shoulders, upper body, and arms. Generally in Nepal it is used by ladies in parties and function, outings in winter season where as in the western countries female use it anytime as a fashion statement.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Stole" src="/userfiles/images/2%20(Copy)(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 75px; height: 90px;" />Stole</strong></span></div>
							<div>
								Pashmina stole is a smaller form of the shawl. Nepal is renowned all over the world for its finely woven Pashmina stoles. Stoles are mostly used by younger generation without wrapping. It covers the shoulders and falls down in front of the body.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Scarf" src="/userfiles/images/3%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 80px; height: 100px;" />Scarf</strong></span></div>
							<div>
								A scarf is a piece of fabric worn around the neck for warmth. &nbsp;Nepal is well known for its finely woven Pashmina scarves. It is also one of the most exportable products.&nbsp;</div>
							<div>
								&nbsp;</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life.',
			'sortorder' => '2426',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2575',
			'article_category_id' => '99',
			'title' => 'Reach The Clouds From Hotel Shambala',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel. &ldquo;Hotel Shambala is a modern hotel with a traditional touch, offering luxurious amenities,&rdquo; said Ghising.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The entire hotel is built around the theme of Tibetan art, and has its elements everywhere. It includes the use of bright and vibrant colours, Tibetan themed decorations and most noticeably, the use of typical clouds used in the art form. The front desk at the lobby, the walls and ceilings of rooms, pillows and bed sheets all have images of clouds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The eight-storey Hotel has 65 deluxe and standard rooms and three suites. All the rooms are impeccably furnished and offer all the modern amenities possible. With adequate space and a great view, all of the rooms are fully air-conditioned. There is a safety locker, coffee maker and LED TVs in each room. Great attention is paid to comfort and luxury, as all the furniture is very cosy and all the mattresses used are imported. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala also boasts of a multi-cuisine restaurant named Erma that spreads across a wide area, and can cater to around 80 diners at once. The restaurant also follows the theme of clouds, and is equally lavish as the Hotel itself. The restaurant serves Continental, Indian, Chinese and Tibetan delicacies among others. &nbsp;There is a bar adjoining the restaurant with a good assortment of liquors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Worthy of mention is the Ayatana Spa of the Hotel. The Spa offers services like different massages, sauna, Jacuzzi, steam and beautification services like facial and others. The Spa is open to guests from outside as well. There is also a lounge and an infinity pool on the roof of the Hotel.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is not just one of the plushest hotels around, but also is one of the safest. There is an emergency exit and fire hose on each floor, along with smoke detectors and glow-in-the-dark signs at exits. Apart from its safety features and lavish amenities, all the usual hotel services like laundry, parking, 24 hour power backup and hot water among others are there.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is offering promotional rates till September. With the offer, a night here will cost you USD 75 for single room and USD 85 for double. &nbsp;Try Hotel Shambala for an elegant and classy stay, all complimented by impeccable hospitality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotel Sambala" src="/userfiles/images/t2%20(Copy).jpg" style="width: 550px; height: 151px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel.',
			'sortorder' => '2425',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2580',
			'article_category_id' => '116',
			'title' => 'Namaste Infotech Enters 5th Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="NAMASTE INFOTECH" src="/userfiles/images/nm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 185px;" />Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Managing Director of the company Ekraj Sedhain informed that the company has been providing IT based services and solutions to a numerous sectors. According to him, the company is providing services like ICT counselling, ICT auditing, and system and network solutions. He informed that the company also provides counselling on how to maximising the IT infrastructure, and ways of preventing its &nbsp; misuse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Namaste Infotech also vends ICT equipments according to the requirement of the customers. The company informed that it will soon provide maintenance services to individuals and households at a relatively affordable price.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-12',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.',
			'sortorder' => '2424',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2579',
			'article_category_id' => '199',
			'title' => 'Tech Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>YouTube Starts Auditing Video Views</strong></span></div>
<div>
	The video-sharing website YouTube said it has started to &ldquo;audit&rdquo; the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like &ldquo;redirects&rdquo; or &ldquo;buying&rdquo; views to boost their count. YouTube said it will now &ldquo;periodically&rdquo; validate the views on videos and remove the fraudulent ones from the total.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Wearable Device Turns Your Palm Into Touch Screen</strong></span></div>
<div>
	A new gesture-based wearable transmitter that turns your palm into a touch interface has been developed by an Indian IT-start up. The ring-shaped transmitter called Fin is worn on the thumb and uses Bluetooth to communicate with different devices. The portable device enables users to control up to three devices such as smartphones, car radios and smart TVs using only swipes and taps, &lsquo;Mashable&rsquo; reported. Until now, the device has five pre-programmed gestures. However, users will be able to create customised programmes on an app that will come with the device, in its final iteration. The device can control the volume on a TV, and even lets users text or dial a number without touching their phone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Facebook&rsquo;s New App &lsquo;Paper&rsquo; Aims to Provide Personalized News</strong></span></div>
<div>
	Facebook stepped more directly onto the news media&rsquo;s turf, rolling out a new iPhone app called Paper that enlists a handful of human editors to supplement its computers in recommending articles and blog posts on a dozen topics, including top news, food, parenting, the environment and gay rights. The app, which made its debut to rave reviews from tech news sites, offers users an easy way to browse their news feeds. But it also presents them with a series of minimagazines, each with a distinct tone and articles chosen by unidentified curators the company says have extensive expertise in their fields.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsung to Unveil Latest Galaxy S Smartphone in Late February</strong></span></div>
<div>
	Samsung Electronics Co will unveil a new version of its flagship Galaxy S smartphone this month, but expectations are low that features such as a bigger screen will lead to a sharp jump in sales given intensifying competition. Samsung sent out invitations on Tuesday for &ldquo;Samsung unPacked 5&rdquo; event on Feb. 24 at the Mobile World Congress in Barcelona. The S5 is widely expected to feature a bigger screen, an improved rear camera and biometric functions such as iris recognition or a fingerprint scanner. It may also come with an improved Galaxy Gear smartwatch.</div>',
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			'title' => 'Tourism Briefs (7 - 16 February 2014)',
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	<span style="font-size:14px;"><strong>Tibet Sees Record Tourist Numbers In 2013</strong></span></div>
<div>
	<img alt="Tibet" src="/userfiles/images/t4%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 109px;" />Tibet saw a record number of visitor arrivals in 2013, as Chinese visitors flocked to the region. According to the latest data from the Tibet Tourism Bureau, reported by Xinhua, a total of 12.91 million people travelled to Tibet last year, marking year-on-year growth of 22%. &nbsp;This total only included 223,000 international visitors however, or just 1.7% of total arrivals. The number of international arrivals to Tibet increased 15%. The region&rsquo;s tourism revenues also saw strong growth in 2013, rising 31% to CNY16.5 billion (US$2.7bn). According to authorities, Buddhist sites including the Potala Palace, Jokhang Temple and Zhaxi Lhunbo Monastery were the most popular tourist attractions last year, although no official visitor figures were provided for these sites. The regional tourism bureau said it expects visitor numbers to increase to 15m per year by 2015. International visitors still need to obtain an official travel permit prior to visiting Tibet. (Traveldailymedia.com)</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Conrad Hotels to Debut In India</strong></span></div>
<div>
	<img alt="Conrad Hotels to Debut In India" src="/userfiles/images/t5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 104px;" />Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels &amp; Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra. In doing so, it will become the first ever Conrad hotel in India and marks the arrival of Hilton&rsquo;s fifth brand in the country, following Hilton Hotels &amp; Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton. Conrad Pune will be set in a modern skyscraper on Mangaldas Road, in Pune&rsquo;s central business district. Designed in an art deco style, the hotel will feature 310 rooms, six F&amp;B outlets, an outdoor swimming pool, fitness centre and spa. It will also offer extensive conference and banqueting space, with a large ballroom, break-out room, pre-function area, four boardrooms and a 24-hour business centre. Conrad Pune will become Hilton&rsquo;s 12th property in India and its second in Pune, following the DoubleTree by Hilton Pune-Chinchwad. (Traveldailymedia.com)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tripadvisor Redesigns Flights For Airlines Globally &nbsp;</strong></span></div>
<div>
	<img alt="Tripadvisor Redesigns Flights For Airlines Globally  " src="/userfiles/images/t6%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 74px;" />TripAdvisor announced a redesign of its Flights search product &ndash; the first to feature comprehensive in-flight insights, amenities information and candid traveller photos coupled with the ability to scan for the lowest prices for airlines globally. In addition to helping travellers find the lowest fares, TripAdvisor Flights now combines a number of new benefits. It includes details on the in-flight experience as Travellers using TripAdvisor Flights will now know exactly what in-flight amenities can be anticipated before they book, including WiFi, power ports and in-flight entertainment. TripAdvisor also reveals available legroom (tight, average, spacious), so travellers can find the most comfortable seat. The product also provides traveller insights on seat type and pitch, as well as thousands of candid traveller photos from SeatGuru of airline seats and cabins and seat maps, giving flight shoppers an inside peek at the aircraft before they book. The results display now clearly identifies thousands of aircraft equipped with extra legroom seats. TripAdvisor also continues to offer its award-winning Fees Estimator that dynamically calculates the cost of baggage and other amenities into the live display, so that travellers are not surprised at the gate. (Traveldailynews.com)</div>',
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			'id' => '2587',
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			'title' => 'Compliance And Operational Risks In Mutual Funds',
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	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sushil Maharjan</strong></div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s only stock exchange, the Nepal Stock Exchange (NEPSE), has been thriving and attracting capital market investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Securities Board of Nepal (SEBON) received approval from the Nepali government under the Securities Act, 2007 to establish Mutual Fund Regulations, 2010 as well as the power to issue licences for mutual funds to be sold in Nepal. &nbsp;In 2010, the first two mutual fund companies were licenced by SEBON and more are in the pipeline. &nbsp;Nepal&rsquo;s first mutual funds have since become well-established businesses that have successfully launched other mutual fund schemes. &nbsp;In this brief period, SEBON has made new provisions to open secondary markets for non-resident Nepalis by making necessary amendments to Mutual Fund Regulations, 2010. &nbsp;I strongly believe, in the next five to ten years, there will be more diversity in the Nepalis capital market as the mutual fund industry continues to mature.</div>
<div>
	&nbsp;</div>
<div>
	We have seen the NEPSE reach a historical low of approximately 375 points back in 2006, and a high of approximately 1180 points in 2008, only for the index to reach an all-time low of approximately 292 points back in 2011. Although the NEPSE has had its share of bear and bull markets, however the index is on the brink of surpassing its highest point for 2013. &nbsp;Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets. &nbsp;Thus, the portfolio net asset&nbsp;</div>
<div>
	value affects mutual fund unit prices on a daily basis.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NAV of a mutual fund is derived from the value of the underlying securities held in the fund&rsquo;s portfolio, which is equal to the mutual fund&rsquo;s assets, less all of its liabilities. &nbsp;Many mutual funds use this number to determine the trading price for units of the fund. When investors buy and sell mutual funds, firms typically do so at the NAV; there is no secondary market in mutual fund units as the fund itself issues and redeems them.</div>
<div>
	&nbsp;</div>
<div>
	We know confident Nepali investors are a big boost to the capital market, though increased trading volume doesn&rsquo;t necessarily indicate that there is growing interest in the stock market; this may be because of reasons such as the improving political stability of Nepal, regulatory changes or available investment opportunities. &nbsp;Value investors see how well companies or stocks are performing within their mutual fund portfolios and measure the performance and returns of all funds across all mutual fund asset classes as well as of market indices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this changing and high-paced investment world, there are reasons to be concerned about mutual fund companies&rsquo; failure to adopt fair value pricing, which would help to avoid losses due to market timers and to manage emerging risk and market trends. &nbsp;Compliance plays a very big role in capital markets and investments, especially with Nepal&rsquo;s new mutual funds. &nbsp;Compliance is the strict following of a requirement, such as specific regulations, policies, standards or laws. &nbsp;The goal of regulatory compliance is to ensure that corporations or public agencies are made fully aware of relevant laws and regulations and take the necessary steps to follow them; this is vital in for Nepal&rsquo;s capital market and mutual industry to thrive. &nbsp;An increasing number of regulations and need for operational transparency will require that institutions that offer mutual funds adopt and consolidate their compliance controls, as this will ensure that all the necessary governance requirements can be met without duplication or inefficiency. &nbsp;Mutual fund trade processing, recordkeeping, and transaction flows strengthen mutual fund oversight programs and operations. We know that compliance rules have the potential to improve mutual fund company operations and that the independence of the compliance function is key to preventing violations and/or abuses of securities laws, regulations and mutual fund policies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One has to be very conscious of the various risk types associated with mutual funds. &nbsp;Operational risk cannot be overlooked; this arises from the individual systems and processes through which Nepal&rsquo;s mutual fund companies operate. &nbsp;Operational risk is stated in the Basel II regulations as the risk of loss resulting from inadequate or failed internal processes, people and systems or from any external events. &nbsp;As an investor, one must recognize that the people, processes and systems of any given company are imperfect, and that losses can occur due to errors and ineffective operations. &nbsp;Generally speaking, the volume of global financial transactions, combined with solid compliance reduces operational risk. &nbsp;However, I want to focus on mutual fund valuation risk and trading abuse. &nbsp;We know that assets can be overvalued or worth less than expected whenever they mature or are sold before then by brokers or dealers. &nbsp;Initiating institutions, brokers, custodian banks, fund administrators, transfer agents and auditors currently share their information electronically and their processes are already automated, thus raising the potential risks with respect to data management and valuations. &nbsp;As valuation risk affects transactions processing, front and back office operations, distribution, investment management as well as the private wealth and advisory services areas of mutual fund firms, I strongly believe that straightforward processes and trading strategies, dating and valuation techniques must be consistent throughout the trade processing cycle. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Stock Taking" src="/userfiles/images/st1%20(Copy).jpg" style="width: 550px; height: 597px; margin-left: 10px; margin-right: 10px;" /></strong></div>
<div>
	&nbsp;</div>
<div>
	From a mutual fund trade processing and recordkeeping standpoint, investors generally purchase, transfer in (or out), or sell fund units through multiple channels - either directly from the fund companies, or through various intermediaries, such as broker-dealers, financial advisors, banks and insurance companies. &nbsp;Settlement risk occurs when the counterparty does not deliver a mutual fund&rsquo;s value in cash as per its trading agreement with the other party upon the execution of trade instructions. &nbsp;This is particularly true for assets that have low liquidity and are not easily tradable in public exchanges. Moreover, issues associated with valuation risks go beyond the firm itself. Mitigating risks as much as possible will provide transparency and ensure the integrity and consistency of the data, models and processes used in making and reporting calculations in the valuation of mutual funds.</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size: 11px;">(Maharjan has extensive financial services industry experience and is currently with CIBC Mellon, Canada&rsquo;s Leader in Asset Servicing, jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon. &nbsp;This is not an official publication of CIBC Mellon. The views expressed are those of the author and are not necessarily those of CIBC Mellon or New Business Age.)</span></em></div>
<div>
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			'description' => 'Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets.',
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			'article_category_id' => '173',
			'title' => 'Kathmandu On Wheels',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashika Pokharel</strong></div>
<div>
	&nbsp;</div>
<div>
	When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars. Whether it is to go to work or back to home after that, family trip, romantic drives, emergencies or weekend leave, reply is car. What initially started as a luxury has now, transformed into basic necessity. Even without comprising a personal car, people are always using vehicles in one way or the other. People have become more and more reliant on vehicle. The car has become a symbol of the modern urban setting with more and more people buying cars.</div>
<div>
	&nbsp;</div>
<div>
	Automobile market in Nepal is gaining momentum as the cars are gaining more popularity among many Nepalis. They are getting more attracted towards cars either as luxury or as their need. &nbsp;Previously, buying a car was beyond the budget of normal Nepali families. However, today the scenario is different. &nbsp;The roads filled with new cars in the town illustrate that Nepalis desire more cars. &nbsp;One of the key reasons behind their increasing desire can be loan facilities offered by many banks which make convenient for the average Nepali to afford new cars. While buying a new car only 20 to 30 percent down payment is required while rest of the money can be paid on monthly installment basis. Moreover, the demand of imported cars is on the rise despite the customs of 240 percent. Although the fuel price is routinelyrising, this has not created a negative impact for both the car buyers as well as the car seller. Another factor which has been encouraging the people to buy cars is the road expansion activities.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pooja International" src="/userfiles/images/tr1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Fuel versus cost efficient cars</strong></span></div>
<div>
	&nbsp;Cozy and fuel efficient cars are demanded by the customers. The customers usually go for those cars whose maintenance cost is low. &nbsp;Nepali customers prefer buying petrol cars as they have much more advantages over diesel cars. The advantages of a petrol car are that petrol engines do not create noise when being driven, maintenance of a petrol engine car is less and have a higher acceleration.&ldquo;Most of our customers buy cars for private use and they are mainly the short distanced drivers. People normally drive 15 to 20 Kms everyday. Therefore, petrol cars are really efficient and good option for that, says, Sajan Maharjan, Sales Manager at GO Ford. He further adds that diesel cars are less in demand in Nepal adding that only car rental companies use diesel cars.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Customers&rsquo; Preference</strong></span></div>
<div>
	&ldquo;The sales of smaller and spacious cars is gaining much popularity among the customers as the streets of Kathmandu are narrow, smaller cars are convenient to park and easier to drive in narrow roads&rdquo;, says Maharjan. Smaller cars are selected by the customers as they are cheaper than other SUV (Sport Utility Vehicle) or Sedan Cars. The price of smaller platform cars starts from Rs15.5 million. In Nepal, the sales of small cars like Eon, Santro, Swift, i10, i20, Grand i10, Alto are high as these are suitable cars for family and offer comfort along with some smart features. One of the causes behind their high preference is that they are Indian cars and due to this their maintenance cost becomes easy and the spare parts are easily available. &nbsp;&ldquo;While buying car the things which customers search for is that whether the car offers updated feature or not, how much fuel efficient it is, itsresale value, looks, good quality and cheap price&rdquo;, says, Dipesh Man Shakya, Deputy Manager at Laxmi Inter Continental &nbsp;Pvt.Ltd.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Street Problems</strong></span></div>
<div>
	&nbsp;Driving a luxurious car is a tough challenge as streets of Kathmandu are battered and full of pot holes. Similarly, the problem of traffic congestion does not allow smooth driving of vehicle.Therefore, in this context choosing smaller platform cars are, lot more advantageous as they have particularly high level of ground clearance which will have less contact with the road and provide a comfortable drive. Smaller cars are also more fuel efficient as they give high mileage compared to other luxurious cars.</div>
<div>
	&nbsp;</div>
<div>
	A high maintenance cost is required for the costly luxurious car as their parts and accessories are comparatively more costly than the simple smaller cars. Even fixing a small dent or a scratch in luxurious vehicles would simply mean to pour out more money. Although the main roads of Kathmandu have been expanded and still in process, the sub roads and inner streets are still smaller and this is just ideal for the smaller cars.</div>
<div>
	&nbsp;</div>
<div>
	It is also said that more CC engine in a car leads to more fuel consumption. Smaller and cheaper cars come with a less CC engine as compared to the other luxurious cars like SUVs. The smaller and cheaper cars like Maruti comes with an 800 CC engine, Santro comes with a 1000 CC engine, Hyundai i10 comes with an 1100 CC engine and Hyundai i20 Comes with a 1200 CC engine. This fact regarding the car&rsquo;s engine CC also plays an eminent role in fuel consumption and indicates the variation in its fuel mileage.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Car Selection</strong></span></div>
<div>
	People specifically in Kathmandu opt for these smaller cars which will offer good mileage with great built-in features. These features include safety features like inbuilt security alarm, air bag safety system, power steering system for a smoother vehicular control to an overall entertainment features like great powerful music speakers with a built-in Bluetooth system attached within the steering wheel itself. This even shows that in today&rsquo;s context smaller car industries are being more competitive in terms of providing their customers with the best detailed features in their car and available at an affordable price budget.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Kathmandu On Wheels" src="/userfiles/images/tr2.jpg" style="width: 550px; height: 192px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
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	&nbsp;</div>
<div>
	The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table. The Nepali bourse has often behaved beyond any rational expectations and market analysis. There was no reason for it to fall as low as below 300 in 2011 and even at present the speedy bull run is not fully justifiable. The index has climbed about 50 percent from 529 points in mid-July 2013 and to 780 mark on third week of January 2014.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepal Stock Exchange Index" src="/userfiles/images/editor1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 154px;" />Interestingly, this rise is witnessed when trading of stocks of a number of new companies, mainly the new commercial banks, began. The situation apparently is of over-supply and there has not been any substantial change in economic fundamentals to push the Index up, except the fact that last CA elections saw the defeat of hard-line communist forces, like Maoists. If the investment were to be made for returns, this political change alone would not perhaps be enough to ensure higher&nbsp;</div>
<div>
	yield. But, investors do not seem to be bothered by this.</div>
<div>
	&nbsp;</div>
<div>
	To some extent, the volatility of the market by its nature is understandable, but the reason d&rsquo;&ecirc;tre of this, generally, is however never beyond comprehension. At least, it should not have been the case given the availability of modern-technology assisted analysis, both fundamental and technical. But that is what exactly happening in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	When markets run amok, bullish or bearish, without any convincing economic explanation, there is no reason to be happy. Nepal&rsquo;s capital markets have some basic characters that make it very risky. It is not only unintegrated to the international market, but also lacks even a few traders who would trade in Nepse and some other international exchange, simultaneously. Therefore, the impact of international market in Nepali secondary market can be completely ruled out. The real sector, for all practical purposes, has no presence in the capital market and it is dominated by the financial service providers, a few hotels and lately some hydropower companies. This means, our capital market trends do not necessarily reflect the degree of fitness of our economy. And, except for some time-trained crooks, there are very few informed or educated investors, causing mismatch between the expectations and returns.</div>
<div>
	&nbsp;</div>
<div>
	The regulator is equally novice and naive. Political appointments of the people to the Stock Exchange Board who lack specific knowledge about the trade have made the situation worse. The most dangerous part is that, no public agency is even contemplating about the possibilities and procedures of listing more real sector, mainly manufacturing, companies into secondary market. It is indeed an uphill task since it requires much higher level of willingness of the private sector to register in the bourse. It in turn requires transparency at every step of the transaction of the companies from, imports, customs evaluation, VAT and excise, sales, and ultimate balance sheet and auditing. Nobody seems prepared for this mammoth task that has not only economic cost but also demands a high degree of business integrity and honesty.</div>
<div>
	&nbsp;</div>
<div>
	But, without bringing the real sectored on the trading screen, the rationale of the secondary market could hardly be justified. The result, it will continue to be victim of irrational volatility. The new government that will be formed soon should take three major steps: first appoint knowledgeable persons of the sector in the regulatory board, second create a joint platform of Nepal Rastra Bank, the Board, Ministry of Finance and the private sector to promote financial education about the secondary market and begin brain storming to identify the causes that are hindering real sector to enlist in Nepse and resolve them. Only this will create a credible stock market in Nepal.</div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'new business age  from the editor news & articles, from the editor news & articles from new business age nepal, from the editor headlines from nepal,  current and latest from the editor news from nepal, economic news from nepal, nepali from the editor economic news and events,  ongoing  from the edi',
			'description' => 'The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table.',
			'sortorder' => '2434',
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2586',
			'article_category_id' => '46',
			'title' => '“We Are On The Lead Position In SAARC Region”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;">Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year. The government recently picked <strong>Anoop Ranjan Bhattarai</strong>, who was previously serving as Director at the company&rsquo;s Wireless Telephone Directorate, to lead the company. Bhattarai is regarded as one of the few smart techies in Nepal with considerable knowledge of technological aspect of the telecom industry. Soon after he assumed the new position, he spoke to <strong>Siromani Dhungana</strong> of New Business Age about his plans for leading the company.<strong> Excerpt:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What does your appointment as MD of NTC promises to its consumers and stakeholders?&nbsp;</strong></span></div>
<div>
	My appointment as the Managing Director is a breakthrough to a 3-month-long deadlock in finalizing the organizational leadership. This appointment is the change for betterment; betterment for the organization, betterment for the staffs working here, and most importantly betterment for all our stakeholders. My tenure as MD of the organization will concentrate in providing world class advanced and consumer friendly telecom services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Some officials and even trade union representatives often talk about making reforms in the company. What areas are you planning to reform?&nbsp;</strong></span></div>
<div>
	My key areas for reform will center on improving company&rsquo;s work culture, increasing its efficiency, ensuring timely execution of projects and improving service delivery. If we pay appropriate attention to these sectors, our performance will improve and thereby enable use to remain competent in the free market economy.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Quality of service has often been controversial when we talk about Nepal Telecom. Even the regulator blames NT for flouting quality indicators. You are perceived as a person with guts to reform the company. How is your appointment going to change anything that Nepali consumers can feel the benefit?</strong></span></div>
<div>
	Of course, the quality of service in urban areas is going to be improved and these changes can be perceived within one month. After upgrading networks in urban areas, we will focus on improving quality of services in the rural areas. I assure our customers across the country that in a few months time there will be visible improvements in the quality of our services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Do you think you will be able to overcome political hurdles that might be obstructing the performance of Nepal Telecom?</strong></span></div>
<div>
	As a government owned company, all stakeholders including the political system, definitely wants to see it growing and increasing its contribution to national development. &nbsp;I do not think there will be any political hurdles that will obstruct growth of the company. All we have to do is ensure that all initiatives are conducted in transparent and reliable manner.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you tackle problems created by Public Procurement Act?</strong></span></div>
<div>
	At present, NT has to follow Public Procurement Act. Consultation process is going on with the Public Procurement Monitoring Office (PPMO) so as to refine or redefine the directive. I am confident that the ongoing as well as additional consultation processes will help NT move forward more efficiently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>News reports during last year claimed that NT provides unnecessary perks and facilities to officials at the Ministry of Information and Communication. What will you do to this end?</strong></span></div>
<div>
	I am not aware of such services being offered to the ministry or its officials. And the ministry has also not requested for the same from the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Successive leadership at NT has been failing to materialize the plan of bringing strategic partner to increase competency of the company. Can we expect anything tangible from you?</strong></span></div>
<div>
	The process for introducing strategic partner is gaining momentum. Within few weeks, NT will initiate the process. I am hopeful fresh initiatives will be successful in bringing strategic partner in the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you see the challenges from private operators at the moment? Will you bring specific plans to cope with those challenges?</strong></span></div>
<div>
	We offer diverse service and have a dominant presence throughout the nation. Our competitors are lagging far behind compared to us, in general. However, we have experienced competition in certain business aspects of telecommunication services. This has opened up new opportunities for NT to grow from within. We should accept challenges and take it as an opportunity to do even better in the future.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What new services can we expect from you?</strong></span></div>
<div>
	We have seen a huge demand for reliable and affordable data service in coming days. So we are mainly focusing on the same. In this fiscal year we will launch WiFi and FTTH (Fiber to the Home) services. Our expert team is also exploring the areas of service expansion. Naturally all our existing as well as prospective consumers demand reliable, diversified and advanced services from Nepal Telecom and as a service provider we are all working and focusing more on the same to make tangible improvement in the options and quality we offer. We also have plan to introduce new services like WiFi, countrywide 3G services through GSM and CDMA technologies and also have plans to provide our own Social Networking Service very soon.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What do you think the major challenges for the company are?</strong></span></div>
<div>
	Our major challenges, as of now, are:</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Bridge the digital divide</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Modernizing customer service&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Proceedings to introduce an international strategic partner</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Boost employees&rsquo; morale and improve work culture</div>
<div>
	These are some major challenges. The list may go even longer. We have to come out with appropriate solution for all challenges. I will put my effort to overcome these challenges during my tenure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Till the mid-80s, Nepal was considered as a country having the best telecom services in the region. What happened since then?</strong></span></div>
<div>
	NT has already launched 4G WIMAX service. We were the first to launch 3G services in the SAARC region. So technically speaking, we are still in leading position within the region and we will not let our achievements to go down.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>You have also expertise in modern technology. Please share your experience and plan to expand new technology including LTE?</strong></span></div>
<div>
	We have applied for frequency spectrum for LTE and once we get it, we will start deploying LTE in all major cities. Within 2015, we aim to provide LTE services throughout the nation.</div>',
			'published' => true,
			'created' => '2014-02-13',
			'modified' => '2014-02-18',
			'keywords' => 'new business age  interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal,  current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events,  ongoing  interview news of nepal',
			'description' => 'Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year.',
			'sortorder' => '2433',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2564',
			'article_category_id' => '109',
			'title' => 'Nepse Recovers Due To Buying Pressure',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country&#39;s capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Analysts say it is a natural recovery as the index was in decreasing trend during the last two weeks. They claim that though most listed companies have declared and distributed cash dividends and bonus shares, many investors are still shying away to invest to their full capacity even at current lower prices. &quot;Once they got the preferred stocks at the lower price, it is obvious to increase the demand for them which in turn boost up the index&rdquo;, said an analyst.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The recovery of stock market seems to have contributed by double-digit growth of hydropower, insurance and development bank sub-indices. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For the week, shares worth Rs 121.12 billion totalling 3.34 million units were traded in the stock market through 13148 transactions. Compared to the previous week, the turnover, number of transactions and unit of shares traded increased this week. This indicates that the selling pressure is reducing and the buying pressure is building up. Last week, Nepse index logged highest level of 785.78 points and lowest level of 769.51 points.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hydropower sub-index gained its position as the biggest gainer with 82.3 points for the week. Similarly, Insurance was the second in the line, which rose 59.53 points followed by Development Bank (16.62 points) and Finance (8.04 points). Similarly, trading sub-index increased by 5.92 points for the week while Manufacturing and Processing&#39;s sub-index remained unchanged throughout the week. The Hotels sub-index continued its losing streak as it was the biggest weekly loser with 7.01 points followed by Banking (1.9 points) and &#39;Others&#39; (1.18 points). Meanwhile, the Sensitive Index representing the share trading of blue chip stocks belonging to class &#39;A&#39; listed companies increased 0.36 points during the week. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/index1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country's capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.',
			'sortorder' => '2432',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2551',
			'article_category_id' => '137',
			'title' => 'Nepal Among The Weakest  In Securing Property Rights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index comprises of three key sub-indexes: Legal and Political Environment, Physical Property Rights and Intellectual Property Rights. The overall grading scale of the IPRI ranges from 0 to 10, where 10 indicates the highest value for a property rights system and 0 the lowest value within a country. Similarly, Nepal also fell among the weakest in securing intellectual property rights. With a score of 4.2 points, Nepal ranks 95 in intellectual property rights sub-index. It also fared poorly in terms of protecting intellectual property rights, patent protection and copyright protection.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, Nepal ranked 113 in legal and political environment sub-indexwith a meagre score of 3.3 points. &nbsp;The country&rsquo;s performance in judicial independence, rule of law, political stability, and control of corruption were also seen below par in the index, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Nepal performed better in physical property rights sub-index where it scored 6.0 points and ranked 68. In terms of protecting physical property rights the country scored a mediocre 5.0 points. Meanwhile the country performed strongly in registration of physical properties with a score of 9.5 points and achieving 6thspot among 130 countries in the index.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The IPRI 2013 has placed Nepal&rsquo;s southern and northern neighbours - India and China- on 57th position in the index. Sri Lanka, Pakistan and Bangladesh ranked 76, 118 and 126 respectively. According to the report, Singapore is the highest-ranking Asian country (rank-7, score-8.1 points). &nbsp;Finland, Sweden, New Zealand, Norway, Netherlands and Switzerland dominated the top-five spots whereas, Bangladesh, Libya, Venezuela, Burundi and Haiti were the bottom-five countries in IPRI 2013.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries.',
			'sortorder' => '2431',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2505',
			'article_category_id' => '138',
			'title' => 'Unemployment On The Rise In South Asia: ILO',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the &lsquo;Global Employment Trends 2014&rsquo; report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region&rsquo;s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. &nbsp;&ldquo;The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth &ndash; growth that also leads to job creation in the formal economy,&rdquo; it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region&rsquo;s labour market. &ldquo;In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,&rdquo; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to ILO estimates Nepal&rsquo;s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region&rsquo;s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div>
<div>
	Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. &nbsp;The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.&rdquo;The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan&not;istan to 79.4 per cent in Nepal,&rdquo; it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div>
<div>
	ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. &ldquo;The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,&rdquo; ILO said. Based on the current trends, ILO said &ldquo;global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.',
			'sortorder' => '2430',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2583',
			'article_category_id' => '40',
			'title' => 'New Nepal Government Setting The Economic Agenda',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By NBA Team</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali economy counts on post-election confidence. With the elections for the Constituent Assembly (CA) and the legislature parliament just concluded, general public and business leaders want one thing for certain &ndash; political stability and economic prosperity.</div>
<div>
	&nbsp;</div>
<div>
	Nepali business and consumers have been on a decade-long roller-coaster ride of unstable government with changes in leadership, epic legislative struggles and policy reversals culminating in what has amounted to a mess.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now there are rays of hopes. The return of political stability is expected everywhere. Business community is upbeat by the successful second CA election. As the liberal forces are going to take the helm of the government, all are waiting for a decisive outcome that can provide real relief to people. And, it is the business community which has been waiting for a favourable situation for their business and investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Decoding the Election Result</strong></span></div>
<div>
	People expressed their aspirations and exercised their power during this election to set the progressive course for issues that matter them the most. Interestingly, people filtered those parties who often take to the street to fulfill their demands but fail to deliver when they lead the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The victory of Nepali Congress in the urban areas clearly indicates that urban voters favour liberal economy. Similarly, the fact that majority of votes were secured by Nepali Congress reflects people&rsquo;s will to be led by a political party which is in favour of social harmony and cohesion.</div>
<div>
	&nbsp;</div>
<div>
	Needless to say that the business community was terrorized due to the hotpotch federal agenda put forth by UCPN (Maoist) and other ultra-leftist groups in a belligent manner. The recent poll results might have relieved the entire business community.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Business goes beyond the ethnicity. An entrepreneur from Madhesh has to do business in the hilly region and vice versa,&rdquo; says former finance secretary Rameshore Khanal. &ldquo;Political parties now should raise the issue of &lsquo;economic nationalism&rsquo; instead of creating tensions among various castes and classes,&rdquo; he remarks. In his words, policy stability and policy consistency is more important than caste and regional issues for development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Long Journey&nbsp;</strong></span></div>
<div>
	Nepal became the 147th member of the World Trade Organization (WTO) in 2004. It is now over two decades since the government adopted liberalization and a development model based on private enterprise and foreign investment, with the market forces as a major driver of the economy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, the government&rsquo;s initiatives for strengthening the private sector have been illusive over the last decade. With over decade-long experience, it is perhaps time to evaluate the advantages Nepal took from the WTO membership and way forward to get maximum advantages as a WTO member.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is now time to seriously revisit the deep trade deficit Nepal has continued to run, says Bhawani Rana, vice president of FNCCI, one of the private sector umbrella organizations. The new government needs to make an overview of our foreign investment trends and identify policy bottlenecks, she emphasizes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>We Can, If We Want</strong></span></div>
<div>
	In the early 1990s, the entire business environment was affected due to the people&rsquo;s movement. Democracy was recently restored. The country was in a state of euphoria as all had much expectation from the new democratic government. But the country&rsquo;s economic situation was not good as the overall economic indicators were in the red. Foreign reserve was depleted. In such a situation, Nepali Congress formed the government and was successful to bring economy back on track.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	That was thanks to the fact that one of the proponents of free market economy, Dr Ram Sharan Mahat took charge of the finance ministry. Though opponents blamed him for favouring economic giants, he despite criticism firmly advocated free market economy and that has proved to be the right decision. The country achieved a record high growth of 8.60 percent in the GDP in 1994.</div>
<div>
	&nbsp;</div>
<div>
	The situation after the 2013 election could hardly differ, hope the businessman and ordinary people. The situation is similar and so are the people&rsquo;s expectations. The early 1990s have proved that the economy can revive if the political leadership is committed for that, says economist Dr Jagadish Chandra Pokharel. A revival in confidence is sorely needed if the country is to deal with the slowdown in economic growth, he adds. The new government should facilitate the business environment. Stable policies and investment friendly mechanism help to make a recovery in business confidence, according to him. But, as NC this time is most likely to form the government with CPN-UML as almost equal partner, doubts are high wether the post-1990 miracle can be repeated. When CPN-UML came to power replacing NC during post-1990 period, it had reversed some crucial policies adopted by NC.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Fear Side</strong></span></div>
<div>
	Moreover, the country&rsquo;s economic sector is not completely terror-free. The Baidya-led ultra-left communist party may create troubles for the sake of making its presence feel. Given Nepal&rsquo;s immediate past, communal and caste issues may resonate strongly in the country&rsquo;s psyche, across the wide-ranging social and economic strata. Understandably, left-extremism (including UCPN-Maoist) may try to create trouble given the humiliating loss experienced by them in the latest polls. Though their presence has significantly reduced in the national politics, left-extremism may try to fuel labour issues to create trouble in the industrial relations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Economists, however, argue that the economy and its development, and distribution of benefits, are at least as important as the emotional issue about communities, castes and class politics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It&rsquo;s clear that uncertainty over policy regime and regulations has been a hindrance to foster investment climate in the country,&rdquo; says businessman Pashupati Murarka.</div>
<div>
	&nbsp;</div>
<div>
	The only way out from the existing chaotic situation is to create more and more jobs in the country, Murarka reiterates. The country cannot get rid of political instability until the youths are left jobless, he claims.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Silver Lining&nbsp;</strong></span></div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success&nbsp;</div>
<div>
	or failure.</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was good enough to maintain its basic economic indicators in the positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s micro as well as macroeconomic indicators are positive. &ldquo;We have sufficient foreign currency reserves,&rdquo; says joint secretary at the finance ministry Madhu Kumar Marasini. He underlines the need for utilizing the remittance inflow in the productive sector. &ldquo;All we need is proper management of our own resources to open new avenues of development,&rdquo; he opines.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. And, it is sure that the country can improve its economic indicators if we get visionary leadership, claims former finance secretary Rameshore Khanal.</div>
<div>
	&nbsp;</div>
<div>
	Nepal has made significant progress in various sectors including health, education, drinking water and telecommunication which clearly shows that the country&rsquo;s economy is ready to take off and all it needs is a runway to move on.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>The Issue of New Constitution&nbsp;</strong></span></div>
<div>
	Drafting the new constitution is going to be an uphill task. There are many differences among political parties. But, the country cannot bear perennial transition. It is the need of the hour to fulfill the aspirations and dreams of the people in a positive manner.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Underdevelopment creates multiple problems. It fuels the frustration and pessimism among people which is not good for country&rsquo;s economic health. And, politicians often blame the political transition for the dysfunction of development. In order to end the culture of blame game, we need the constitution which can end the existing political fiasco.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The business community wants this government to draft the constitution on time, opines Rajan Singh Bhandari. The economy cannot go ahead in an ad-hoc basis forever. This fact should be realized by all political parties and they need to draft the new constitution and promulgate it within the stipulated time, he adds.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Conclusion&nbsp;</strong></span></div>
<div>
	Many leaders often express the hopes of transforming Nepal into another Switzerland. And, it is not a far cry if we try. Can economic prosperity be achieved in a country that reels under perennial political problems? Entrepreneur Hari Bhakta Sharma says, &ldquo;Yes, we can achieve economic prosperity.&rdquo; We can achieve every success if there is collective effort from the government and the private sector and positive vibes for development among people, he claims.&nbsp;</div>
<div>
	It is widely believed that the new government will be successful to take a decisive role to make our collective dream of becoming rich and prosperous a reality. And, we all need to be clear that the economic prosperity is not meant only for business community but for all of us. Let us make a collective dream and start the journey of becoming a prosperous nation. It is a fact: &ldquo;United we stand and divided we fall.&rdquo; Let&rsquo;s make a collective effort to be the citizens of a prosperous country.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Cover Story" src="/userfiles/images/cs1%20(Copy)(3).jpg" style="width: 575px; height: 570px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-12',
			'modified' => '2014-02-17',
			'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal,  current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events,  ongoing  cover story news of nepal',
			'description' => 'The results of the second Constituent Assembly (CA) election show that parties contesting on very radical economic ideologies have been rejected by the voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in the urban areas across the nation.',
			'sortorder' => '2429',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2563',
			'article_category_id' => '134',
			'title' => '‘The Corporate Sector Must Lead MAN’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Janak Raj Shah</strong> is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7).<strong> Akhilesh Tripathi</strong> of The Corporate caught up with Shah, a former National Planning Commission member, for an interview. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the objectives of MAN? How successful has MAN been to achieve its objectives?</strong></span></div>
<div>
	Established in 1979, MAN is a nongovernmental organization and the apex body of management professionals in Nepal. It&rsquo;s a think tank with active support of the country&rsquo;s corporate sector. It has a strong membership base of over 2,000 individuals and 250 institutions from different disciplines and sectors of Nepali economy and society. It also provides policy recommendations to the government.</div>
<div>
	&nbsp;</div>
<div>
	The main objective of MAN is to apply, develop and promote management science and make necessary arrangements to offer such knowledge in Nepal. The other objectives are: bringing professionals and institutes related to management development under one umbrella through networking so as to facilitate interaction, innovation and pro-active involvement for promoting management professionalism; consolidating management development through education, training, research, consulting and information services; and keeping members informed of new developments in professional management approaches and their uses.</div>
<div>
	&nbsp;</div>
<div>
	MAN has been pursuing various activities to achieve these objectives for the last 33 years. These activities include interactive sessions, researches/studies and consultancies, EMBA program, professional training courses, bestowing management awards, membership expansion drive, institutional networking and so on.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>MAN executive committee and its general membership are dominated by bureaucrats. Why is the participation low by the corporate sector?</strong></span></div>
<div>
	The situation was like that in the past. For a long time, the pro-activeness of bureaucrats contributed a lot to MAN&rsquo;s activities. The situation has started to change now. The number of MAN members from the corporate sector has been increasing. They are contributing to MAN&#39;s activities directly and indirectly. I am of the opinion that the corporate sector must lead MAN as per its vision and objectives. Realising this fact, we are inviting managers from the corporate sector to participle in MAN&rsquo;s activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your achievements as MAN President for two consecutive terms?</strong></span></div>
<div>
	I have successfully completed two terms as MAN President. I am satisfied with the performance of MAN. However, we have to do a lot in the time to come. &nbsp;We have worked for preparing and implementing MAN&#39;s strategy to increase its height in the field of management development. We are successfully running an EMBA programme of Purbanchal University. We have been able to open MAN&#39;s Chapters in Pokhara, Dhangadhi and Biratnagar. I am optimistic that other Chapters will be opened in other parts of the country. One of MAN initiatives, the Management Development Campus, was able to receive the Best B-School Award 2010 from the CMO Council. As the president of MAN, I received the &#39;Golden Star Academic &amp; Educational Excellence Award 2013&#39; under Education Leadership Award at the &lsquo;World Marketing Summit, Malayasia 2013&#39; - a Philip Kotler Initiative for a Better World.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the things that you wanted to do but couldn&#39;t do because of various reasons?</strong></span></div>
<div>
	I had a dream of having MAN&rsquo;s own building to expand its activities smoothly and efficiently. During my tenure, I could not materialize this dream of infrastructure development. The participation from the corporate sector in MAN&#39;s activities is limited. However, I tried my level best to bring the private sector, more specifically the corporate sector, to this forum. The government&rsquo;s support to MAN&#39;s activities is not adequate though the government has helped us by sending students to our EMBA programme and providing us some grants every year.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the international organizations that MAN is affiliated with? What benefits in terms of knowledge sharing has MAN got from this affiliation?</strong></span></div>
<div>
	MAN is one of the founding members of the Asian Association of Management Organizations (AAMO) which is working in the Asia Pacific region. It has also close links with the American Management Association (AMA), All India Management Association (AIMA), North India Management Association (NIMA) and many others. We have also signed MoUs with other national and international organizations such as AAMO, Rai Foundation, and NIMA for scholarship programmes. These linkages have helped MAN to have access to information on the best management practices and techniques available in other parts of the world.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are MAN&rsquo;s challenges?</strong></span></div>
<div>
	Resource constraint is the main challenge which has affected the sustainability of MAN&rsquo;s activities. Limited participation of Man&rsquo;s members in its activities is another challenge. Having MAN&rsquo;s own building is yet another challenge. This has been my dream as well. To turn the dream into reality, we made our level best efforts and even requested the government to provide us land in the &lsquo;right to use&rsquo; (BHOGADHIKAR) mode as other similar non-governmental organizations have got land from the government. But this process is yet to reach a logical conclusion. If we could meet these challenges, MAN&rsquo;s activities could be run in a sustainable way.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your expectations from the new Executive Committee?</strong></span></div>
<div>
	I have many expectations from the new executive committee to be elected. I am optimistic that new team will add some bricks for the overall development of MAN. The prospective executive committee members in scene are well-known professionals from different sectors and as dedicated successor they deserve to lead the MAN ahead. So I shall be more than happy to handover MAN to the new team. I would like to suggest to the new team that they should focus themselves on MAN activities such as adding value to trainings, EMBA programme and research. MAN&rsquo;s roadmap is clear with its strategic vision and objectives. But it needs to be backed by the action plan which is lagging behind. Therefore, they should create an environment and motivate MAN members to contribute by participating in the various sub committees. Equally, the attention should be given to infrastructure development of MAN. For your kind information, I also will be there as the part of team as an executive member in the capacity of Immediate Past President (IPP). MAN believes in togetherness and cooperation, so again it is my pride to be there to contribute to MAN in the future as well.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Janak Raj Shah is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7). Akhilesh Tripathi of The Corporate caught up with Shah, a former National Planning Commission member, for an interview.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2578',
			'article_category_id' => '206',
			'title' => 'LG G2: Twice The Genius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--BY Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="LG G2" src="/userfiles/images/lg%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 262px;" />LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone. In terms of hardware specifications, the G2 is among the most powerful smartphones that money can buy. The phone is powered by a quad-core 2.26 GHz Krait 400 processor clocked at 2.26GHz which uses the latest Qualcomm MSM8974 Snapdragon 800 chipset. &nbsp;Similarly, with LPDDR3 2 GB RAM and Adreno 330 GPU, G2 can handle most of the heavy tasks very easily. Be it high-end mobile gaming or multitasking, the phone runs smoothly without showing any sign of snag.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The G2 sports a 5.2 inch True HD-IPS + LCD capacitive touch screen protected by Corning Gorilla Glass 2. The front of the phone looks attractive with and exceptionally thin bezel. The company calls it &#39;near zero bezel&#39; for &#39;edge to edge viewing&#39;. With 442 ppi pixel density, its screen has a resolution of 1080 X 1980 pixels which gives vibrant and crisp display. G2 uses Graphic RAM (GRAM) technology that claims to reduce the display&acute;s energy use by 25 percent. On top of Android Jelly Bean 4.2.2 OS, G2 runs on LG&#39;s Optimus UI. The OS has its own unique customizations with features like guest mode (multiple user option) and KnockON (unlock/lock phone with a double tap on the screen) among others. G2&#39;s build is excellent as it has a high-gloss plastic body. The phone feels lighter in hand weighing just 143 grams.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	G2 houses a powerful camera system. A 13 megapixel snapper sits on its back while the front side sports a 2.1 MP secondary shooter. Both cameras can be activated simultaneously. The primary camera comes with optical image stabilization which also features HDR mode. Users can capture photos at a max resolution of 4160 x 3120 pixels. With the primary camera, the G2 records 1080p videos at 60 fps along with the front camera shooting full HD videos at 30 fps. Physical buttons are absent throughout the sides. Strangely, it houses all the buttons (power key and volume rocker) at the back of the phone, just below the secondary camera. Users can have awesome sound experience with G2 as it is packed with Dolby mobile sound enhancement. Audio Zoom is another special feature which lets users zero in on a sound source, simply by zooming in on the subject while shooting a video. The phone also houses a stereo FM radio with RDS.</div>
<div>
	&nbsp;</div>
<div>
	On the power backup front, the phone has 3,000 mAh battery. It can give a backup for 34 hours of talk time on 2G and 15 hours on 3G. Storage, however, seems to be an issue. The G2 comes with 32 GB internal storage and does not have a microSD card slot for memory expansion. CG Impex Pvt Ltd, the authorised distributor of LG smartphone in Nepal launched G2 amid a function on February 4, Tuesday. The company has priced the smartphone at Rs 75,000 in the domestic market.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone.',
			'sortorder' => '2427',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2582',
			'article_category_id' => '153',
			'title' => 'Chyangra Pashmina Regains Warmth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Eliza Tuladhar</strong></div>
<div>
	&nbsp;</div>
<div>
	With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life. Pashmina product is one of the major exportable products of the country but the export of the product started declining in the early 2000 when the international market started importing Pashmina products from Chinese and the Indian Market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The loss of reputation has significantly affected the Pashmina that was a very strong export industry for Nepal. In the year 2000, the industry had exported Pashmina worth Rs 15 billion but it has reduced to a mere Rs 1 billion currently due to the cheap fake products that keep the market flooded.</div>
<div>
	&nbsp;</div>
<div>
	However now with the support of WTO/EIF Trading Stories project the Pashmina industrialist are hopeful to revive its international trading and minimize the threat created due to the increasing number of export from the Chinese and Indian market. According to Nepal Pashmina Industries Association (NPIA) President, Pushpa Man Shrestha, the association is hopeful that the project will start from March this year. &ldquo;The project under the WTO/EIF Trading Stories is a three years long project which will be basically focused on showcasing, Chyangra farming, production of raw material, Pashmina manufacturing process and finally its trading process,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The &lsquo;Pashmina Enhancement and Trade Support project under WTO aims to respond to trade related priorities in the Nepal Trade Integrated Strategies as well as to build sustainable local capacities and leverage additional resources from development partner pursuant to the goal. The project will contribute to achieving improved and increased export performance by at least 20 per cent. Chyangra Pashmina from Nepal is exported to more than 60 countries and the &lsquo;Chyangra&rsquo; trademark is registered in more than 40 of these countries.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Due to weak quality control and nominal productions of domestic raw materials, as well as lack of brand awareness of Nepali &lsquo;Chyangra Pashmina&rsquo; in the international market the export of Pashmina has been disturbed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>History of Pashmina</strong></span></div>
<div>
	Pashmina is the finest inner wool that grows as layer at the very bottom of thick and coarse fibre of Himalayan goat, locally known as chyangra (Capra Hircus), living above 2000 meter from the sea level. Each chyangra does produce 90 grams of Pashmina once a year. It is extracted from its body either by combing or by cutting during January to February. Pashmina is one of the finest, softest, warmest and lightest wool found in nature. In fact, it is the best wool in the world. Pashmina is known by different names like &ldquo;Diamond Fibre&rdquo; and &ldquo;Soft Gold of High Asia&rdquo;. It is unparalleled in uniqueness and elegance to any other fibres. The main raw materials used for producing Pashmina products are &lsquo;Pashmina Yarn&rsquo; and &lsquo;Silk Yarn&rsquo; plus dyes and chemicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pashmina in Nepal" src="/userfiles/images/pmn%20(Copy).jpg" style="width: 550px; height: 260px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Production of Pashmina&nbsp;</strong></span></div>
<div>
	The production process of pashmina product generally includes weaving, dyeing, processing, fringing, tassels, embroidery, beadwork, printing etc. Nepali Chyangra Pashmina, one of the major exportable product of the country is &lsquo;the softest, exotically, delicate, weightless and the finest insulating fibre of the world with high potential for export to the European market. The outer layer of Chyangra is discarded and only the inner layer of fibre measuring less than 16.5 microns is specified for use as Pashmina. These extraordinary characters of Pashmina fibres have encouraged weavers to produce various types of wraps for warmness. The exquisite characters of Nepali Chyangra Pashmina have established it as the most precious possession. The Pashmina fibre thus obtained from the Chyangra are spun into thin yarn which is woven to make different types of Pashmina products like blankets, shawls, stoles, scarves as well as pullovers, cardigans etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pricing of Pashmina products&nbsp;</strong></span></div>
<div>
	The price of Nepali Pashmina product basically depends upon its quality, ordering size, colour, design and size. Almost all of the Pashmina industries are concentrated in the Kathmandu Valley. They are absolutely export-oriented. However, it has been given the impression that as many as 5 per cent of its products may be consumed within the country. Pashmina products account for more than 50 per cent of the total export figure of the handicraft products. And it is the major export component under the handicraft goods category.</div>
<div>
	&nbsp;</div>
<div>
	The number of international export markets of Nepali Pashmina products exceeds 40 out of which, USA, Italy, Canada, UK, France, Japan, Germany and India are the major ones.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges faced by Nepali Chyangra Pashmina</strong></span></div>
<div>
	Nepali Pashmina industries need to import all the raw material. Pashmina Yarn and Silk Yarn are imported from China and India and Chemicals and dyes from Europe and India. It can be made of pure Pashmina yarn or by using both Pashmina yarn and Silk yarn in a certain proportion normally in the ratio of 70:30, depending upon the demand of the buyers. Fineness, softness, warmness, lightness, durability and craftsmanship are its inherent features. Shrestha also claimed that lower priced Indian Pashmina products have hit the market of Nepali Pashmina and has made it difficult to survive the growing price competition. Pashmina exporters also say that according to the international buyers, price of Nepali Pashmina products is around 30 per cent more than that of Indian products. Indian exporters can buy huge quantity of raw materials and have started their own spinning that has made their products more competitive in the international market.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pashmina industries in the country&nbsp;</strong></span></div>
<div>
	According to Nepal Pashmina Industries Association (NPIA) there are around 20 industries that have exports of around Rs one billion including exports to India. There are 300 Pashmina exporters registered at NPIA and out of them 20 have high production capacity and with good export figures. There are around two to four industries who also export Pashmina to India.</div>
<div>
	&nbsp;</div>
<div>
	Pashmina was famous across the world for the past couple of decades but with the introduction of low priced and fake Pashmina wool, the original Pashmina industry is fighting for existence. However the product is gradually being reintroduced as the brand &lsquo;Chyangra Pashmina&rsquo;. &ldquo;We have tried to reintroduce the Nepali Pashmina with the brand &lsquo;Chyangra Pashmina; and we hope that the WTO/EIF project will give us much required support to move ahead with promotion and development of new products and improvement of the products that will meet the demands of the international market,&rdquo; said Shrestha. The association along with the government has registered a collective trademark &lsquo;Chyangra Pashmina&rsquo; and its logo in the domestic and international markets to get rid of fake pashmina. Chyangra pashmina is now a registered brand in 41 countries. The association has also applied for its registration in South Africa, Brazil, Russia, Taiwan and the UAE.</div>
<div>
	&nbsp;</div>
<div>
	The World Trade Organization has recently developed trading stories of Pashmina to create awareness about the product and bring more opportunities for it in the international market. The Pashmina trading story includes each step of production &ndash;&ndash; from Chyangra farming to processing &ndash;&ndash; which will help create awareness about pure Chyangra Pashmina among the people in around 148 countries.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Shawl" src="/userfiles/images/1%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 50px; height: 102px;" />Shawl</strong></span></div>
							<div>
								Pashmina Shawls are the most exportable Nepali product. It is loosely worn over the shoulders, upper body, and arms. Generally in Nepal it is used by ladies in parties and function, outings in winter season where as in the western countries female use it anytime as a fashion statement.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Stole" src="/userfiles/images/2%20(Copy)(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 75px; height: 90px;" />Stole</strong></span></div>
							<div>
								Pashmina stole is a smaller form of the shawl. Nepal is renowned all over the world for its finely woven Pashmina stoles. Stoles are mostly used by younger generation without wrapping. It covers the shoulders and falls down in front of the body.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Scarf" src="/userfiles/images/3%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 80px; height: 100px;" />Scarf</strong></span></div>
							<div>
								A scarf is a piece of fabric worn around the neck for warmth. &nbsp;Nepal is well known for its finely woven Pashmina scarves. It is also one of the most exportable products.&nbsp;</div>
							<div>
								&nbsp;</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life.',
			'sortorder' => '2426',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2575',
			'article_category_id' => '99',
			'title' => 'Reach The Clouds From Hotel Shambala',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel. &ldquo;Hotel Shambala is a modern hotel with a traditional touch, offering luxurious amenities,&rdquo; said Ghising.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The entire hotel is built around the theme of Tibetan art, and has its elements everywhere. It includes the use of bright and vibrant colours, Tibetan themed decorations and most noticeably, the use of typical clouds used in the art form. The front desk at the lobby, the walls and ceilings of rooms, pillows and bed sheets all have images of clouds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The eight-storey Hotel has 65 deluxe and standard rooms and three suites. All the rooms are impeccably furnished and offer all the modern amenities possible. With adequate space and a great view, all of the rooms are fully air-conditioned. There is a safety locker, coffee maker and LED TVs in each room. Great attention is paid to comfort and luxury, as all the furniture is very cosy and all the mattresses used are imported. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala also boasts of a multi-cuisine restaurant named Erma that spreads across a wide area, and can cater to around 80 diners at once. The restaurant also follows the theme of clouds, and is equally lavish as the Hotel itself. The restaurant serves Continental, Indian, Chinese and Tibetan delicacies among others. &nbsp;There is a bar adjoining the restaurant with a good assortment of liquors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Worthy of mention is the Ayatana Spa of the Hotel. The Spa offers services like different massages, sauna, Jacuzzi, steam and beautification services like facial and others. The Spa is open to guests from outside as well. There is also a lounge and an infinity pool on the roof of the Hotel.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is not just one of the plushest hotels around, but also is one of the safest. There is an emergency exit and fire hose on each floor, along with smoke detectors and glow-in-the-dark signs at exits. Apart from its safety features and lavish amenities, all the usual hotel services like laundry, parking, 24 hour power backup and hot water among others are there.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is offering promotional rates till September. With the offer, a night here will cost you USD 75 for single room and USD 85 for double. &nbsp;Try Hotel Shambala for an elegant and classy stay, all complimented by impeccable hospitality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotel Sambala" src="/userfiles/images/t2%20(Copy).jpg" style="width: 550px; height: 151px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel.',
			'sortorder' => '2425',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2580',
			'article_category_id' => '116',
			'title' => 'Namaste Infotech Enters 5th Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="NAMASTE INFOTECH" src="/userfiles/images/nm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 185px;" />Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Managing Director of the company Ekraj Sedhain informed that the company has been providing IT based services and solutions to a numerous sectors. According to him, the company is providing services like ICT counselling, ICT auditing, and system and network solutions. He informed that the company also provides counselling on how to maximising the IT infrastructure, and ways of preventing its &nbsp; misuse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Namaste Infotech also vends ICT equipments according to the requirement of the customers. The company informed that it will soon provide maintenance services to individuals and households at a relatively affordable price.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-12',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.',
			'sortorder' => '2424',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2579',
			'article_category_id' => '199',
			'title' => 'Tech Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>YouTube Starts Auditing Video Views</strong></span></div>
<div>
	The video-sharing website YouTube said it has started to &ldquo;audit&rdquo; the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like &ldquo;redirects&rdquo; or &ldquo;buying&rdquo; views to boost their count. YouTube said it will now &ldquo;periodically&rdquo; validate the views on videos and remove the fraudulent ones from the total.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Wearable Device Turns Your Palm Into Touch Screen</strong></span></div>
<div>
	A new gesture-based wearable transmitter that turns your palm into a touch interface has been developed by an Indian IT-start up. The ring-shaped transmitter called Fin is worn on the thumb and uses Bluetooth to communicate with different devices. The portable device enables users to control up to three devices such as smartphones, car radios and smart TVs using only swipes and taps, &lsquo;Mashable&rsquo; reported. Until now, the device has five pre-programmed gestures. However, users will be able to create customised programmes on an app that will come with the device, in its final iteration. The device can control the volume on a TV, and even lets users text or dial a number without touching their phone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Facebook&rsquo;s New App &lsquo;Paper&rsquo; Aims to Provide Personalized News</strong></span></div>
<div>
	Facebook stepped more directly onto the news media&rsquo;s turf, rolling out a new iPhone app called Paper that enlists a handful of human editors to supplement its computers in recommending articles and blog posts on a dozen topics, including top news, food, parenting, the environment and gay rights. The app, which made its debut to rave reviews from tech news sites, offers users an easy way to browse their news feeds. But it also presents them with a series of minimagazines, each with a distinct tone and articles chosen by unidentified curators the company says have extensive expertise in their fields.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsung to Unveil Latest Galaxy S Smartphone in Late February</strong></span></div>
<div>
	Samsung Electronics Co will unveil a new version of its flagship Galaxy S smartphone this month, but expectations are low that features such as a bigger screen will lead to a sharp jump in sales given intensifying competition. Samsung sent out invitations on Tuesday for &ldquo;Samsung unPacked 5&rdquo; event on Feb. 24 at the Mobile World Congress in Barcelona. The S5 is widely expected to feature a bigger screen, an improved rear camera and biometric functions such as iris recognition or a fingerprint scanner. It may also come with an improved Galaxy Gear smartwatch.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The video-sharing website YouTube said it has started to “audit” the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like “redirects” or “buying” views to boost their count. YouTube said it will now “periodically” validate the views on videos and remove the fraudulent ones from the total.',
			'sortorder' => '2423',
			'image' => null,
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	(int) 14 => array(
		'Article' => array(
			'id' => '2577',
			'article_category_id' => '100',
			'title' => 'Tourism Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tibet Sees Record Tourist Numbers In 2013</strong></span></div>
<div>
	<img alt="Tibet" src="/userfiles/images/t4%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 109px;" />Tibet saw a record number of visitor arrivals in 2013, as Chinese visitors flocked to the region. According to the latest data from the Tibet Tourism Bureau, reported by Xinhua, a total of 12.91 million people travelled to Tibet last year, marking year-on-year growth of 22%. &nbsp;This total only included 223,000 international visitors however, or just 1.7% of total arrivals. The number of international arrivals to Tibet increased 15%. The region&rsquo;s tourism revenues also saw strong growth in 2013, rising 31% to CNY16.5 billion (US$2.7bn). According to authorities, Buddhist sites including the Potala Palace, Jokhang Temple and Zhaxi Lhunbo Monastery were the most popular tourist attractions last year, although no official visitor figures were provided for these sites. The regional tourism bureau said it expects visitor numbers to increase to 15m per year by 2015. International visitors still need to obtain an official travel permit prior to visiting Tibet. (Traveldailymedia.com)</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Conrad Hotels to Debut In India</strong></span></div>
<div>
	<img alt="Conrad Hotels to Debut In India" src="/userfiles/images/t5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 104px;" />Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels &amp; Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra. In doing so, it will become the first ever Conrad hotel in India and marks the arrival of Hilton&rsquo;s fifth brand in the country, following Hilton Hotels &amp; Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton. Conrad Pune will be set in a modern skyscraper on Mangaldas Road, in Pune&rsquo;s central business district. Designed in an art deco style, the hotel will feature 310 rooms, six F&amp;B outlets, an outdoor swimming pool, fitness centre and spa. It will also offer extensive conference and banqueting space, with a large ballroom, break-out room, pre-function area, four boardrooms and a 24-hour business centre. Conrad Pune will become Hilton&rsquo;s 12th property in India and its second in Pune, following the DoubleTree by Hilton Pune-Chinchwad. (Traveldailymedia.com)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tripadvisor Redesigns Flights For Airlines Globally &nbsp;</strong></span></div>
<div>
	<img alt="Tripadvisor Redesigns Flights For Airlines Globally  " src="/userfiles/images/t6%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 74px;" />TripAdvisor announced a redesign of its Flights search product &ndash; the first to feature comprehensive in-flight insights, amenities information and candid traveller photos coupled with the ability to scan for the lowest prices for airlines globally. In addition to helping travellers find the lowest fares, TripAdvisor Flights now combines a number of new benefits. It includes details on the in-flight experience as Travellers using TripAdvisor Flights will now know exactly what in-flight amenities can be anticipated before they book, including WiFi, power ports and in-flight entertainment. TripAdvisor also reveals available legroom (tight, average, spacious), so travellers can find the most comfortable seat. The product also provides traveller insights on seat type and pitch, as well as thousands of candid traveller photos from SeatGuru of airline seats and cabins and seat maps, giving flight shoppers an inside peek at the aircraft before they book. The results display now clearly identifies thousands of aircraft equipped with extra legroom seats. TripAdvisor also continues to offer its award-winning Fees Estimator that dynamically calculates the cost of baggage and other amenities into the live display, so that travellers are not surprised at the gate. (Traveldailynews.com)</div>',
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			'description' => 'Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels & Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra.',
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			'id' => '2587',
			'article_category_id' => '42',
			'title' => 'Compliance And Operational Risks In Mutual Funds',
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	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sushil Maharjan</strong></div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s only stock exchange, the Nepal Stock Exchange (NEPSE), has been thriving and attracting capital market investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Securities Board of Nepal (SEBON) received approval from the Nepali government under the Securities Act, 2007 to establish Mutual Fund Regulations, 2010 as well as the power to issue licences for mutual funds to be sold in Nepal. &nbsp;In 2010, the first two mutual fund companies were licenced by SEBON and more are in the pipeline. &nbsp;Nepal&rsquo;s first mutual funds have since become well-established businesses that have successfully launched other mutual fund schemes. &nbsp;In this brief period, SEBON has made new provisions to open secondary markets for non-resident Nepalis by making necessary amendments to Mutual Fund Regulations, 2010. &nbsp;I strongly believe, in the next five to ten years, there will be more diversity in the Nepalis capital market as the mutual fund industry continues to mature.</div>
<div>
	&nbsp;</div>
<div>
	We have seen the NEPSE reach a historical low of approximately 375 points back in 2006, and a high of approximately 1180 points in 2008, only for the index to reach an all-time low of approximately 292 points back in 2011. Although the NEPSE has had its share of bear and bull markets, however the index is on the brink of surpassing its highest point for 2013. &nbsp;Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets. &nbsp;Thus, the portfolio net asset&nbsp;</div>
<div>
	value affects mutual fund unit prices on a daily basis.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NAV of a mutual fund is derived from the value of the underlying securities held in the fund&rsquo;s portfolio, which is equal to the mutual fund&rsquo;s assets, less all of its liabilities. &nbsp;Many mutual funds use this number to determine the trading price for units of the fund. When investors buy and sell mutual funds, firms typically do so at the NAV; there is no secondary market in mutual fund units as the fund itself issues and redeems them.</div>
<div>
	&nbsp;</div>
<div>
	We know confident Nepali investors are a big boost to the capital market, though increased trading volume doesn&rsquo;t necessarily indicate that there is growing interest in the stock market; this may be because of reasons such as the improving political stability of Nepal, regulatory changes or available investment opportunities. &nbsp;Value investors see how well companies or stocks are performing within their mutual fund portfolios and measure the performance and returns of all funds across all mutual fund asset classes as well as of market indices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this changing and high-paced investment world, there are reasons to be concerned about mutual fund companies&rsquo; failure to adopt fair value pricing, which would help to avoid losses due to market timers and to manage emerging risk and market trends. &nbsp;Compliance plays a very big role in capital markets and investments, especially with Nepal&rsquo;s new mutual funds. &nbsp;Compliance is the strict following of a requirement, such as specific regulations, policies, standards or laws. &nbsp;The goal of regulatory compliance is to ensure that corporations or public agencies are made fully aware of relevant laws and regulations and take the necessary steps to follow them; this is vital in for Nepal&rsquo;s capital market and mutual industry to thrive. &nbsp;An increasing number of regulations and need for operational transparency will require that institutions that offer mutual funds adopt and consolidate their compliance controls, as this will ensure that all the necessary governance requirements can be met without duplication or inefficiency. &nbsp;Mutual fund trade processing, recordkeeping, and transaction flows strengthen mutual fund oversight programs and operations. We know that compliance rules have the potential to improve mutual fund company operations and that the independence of the compliance function is key to preventing violations and/or abuses of securities laws, regulations and mutual fund policies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One has to be very conscious of the various risk types associated with mutual funds. &nbsp;Operational risk cannot be overlooked; this arises from the individual systems and processes through which Nepal&rsquo;s mutual fund companies operate. &nbsp;Operational risk is stated in the Basel II regulations as the risk of loss resulting from inadequate or failed internal processes, people and systems or from any external events. &nbsp;As an investor, one must recognize that the people, processes and systems of any given company are imperfect, and that losses can occur due to errors and ineffective operations. &nbsp;Generally speaking, the volume of global financial transactions, combined with solid compliance reduces operational risk. &nbsp;However, I want to focus on mutual fund valuation risk and trading abuse. &nbsp;We know that assets can be overvalued or worth less than expected whenever they mature or are sold before then by brokers or dealers. &nbsp;Initiating institutions, brokers, custodian banks, fund administrators, transfer agents and auditors currently share their information electronically and their processes are already automated, thus raising the potential risks with respect to data management and valuations. &nbsp;As valuation risk affects transactions processing, front and back office operations, distribution, investment management as well as the private wealth and advisory services areas of mutual fund firms, I strongly believe that straightforward processes and trading strategies, dating and valuation techniques must be consistent throughout the trade processing cycle. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Stock Taking" src="/userfiles/images/st1%20(Copy).jpg" style="width: 550px; height: 597px; margin-left: 10px; margin-right: 10px;" /></strong></div>
<div>
	&nbsp;</div>
<div>
	From a mutual fund trade processing and recordkeeping standpoint, investors generally purchase, transfer in (or out), or sell fund units through multiple channels - either directly from the fund companies, or through various intermediaries, such as broker-dealers, financial advisors, banks and insurance companies. &nbsp;Settlement risk occurs when the counterparty does not deliver a mutual fund&rsquo;s value in cash as per its trading agreement with the other party upon the execution of trade instructions. &nbsp;This is particularly true for assets that have low liquidity and are not easily tradable in public exchanges. Moreover, issues associated with valuation risks go beyond the firm itself. Mitigating risks as much as possible will provide transparency and ensure the integrity and consistency of the data, models and processes used in making and reporting calculations in the valuation of mutual funds.</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size: 11px;">(Maharjan has extensive financial services industry experience and is currently with CIBC Mellon, Canada&rsquo;s Leader in Asset Servicing, jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon. &nbsp;This is not an official publication of CIBC Mellon. The views expressed are those of the author and are not necessarily those of CIBC Mellon or New Business Age.)</span></em></div>
<div>
	&nbsp;</div>',
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			'created' => '2014-02-13',
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			'description' => 'Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets.',
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	(int) 1 => array(
		'Article' => array(
			'id' => '2585',
			'article_category_id' => '173',
			'title' => 'Kathmandu On Wheels',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashika Pokharel</strong></div>
<div>
	&nbsp;</div>
<div>
	When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars. Whether it is to go to work or back to home after that, family trip, romantic drives, emergencies or weekend leave, reply is car. What initially started as a luxury has now, transformed into basic necessity. Even without comprising a personal car, people are always using vehicles in one way or the other. People have become more and more reliant on vehicle. The car has become a symbol of the modern urban setting with more and more people buying cars.</div>
<div>
	&nbsp;</div>
<div>
	Automobile market in Nepal is gaining momentum as the cars are gaining more popularity among many Nepalis. They are getting more attracted towards cars either as luxury or as their need. &nbsp;Previously, buying a car was beyond the budget of normal Nepali families. However, today the scenario is different. &nbsp;The roads filled with new cars in the town illustrate that Nepalis desire more cars. &nbsp;One of the key reasons behind their increasing desire can be loan facilities offered by many banks which make convenient for the average Nepali to afford new cars. While buying a new car only 20 to 30 percent down payment is required while rest of the money can be paid on monthly installment basis. Moreover, the demand of imported cars is on the rise despite the customs of 240 percent. Although the fuel price is routinelyrising, this has not created a negative impact for both the car buyers as well as the car seller. Another factor which has been encouraging the people to buy cars is the road expansion activities.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pooja International" src="/userfiles/images/tr1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Fuel versus cost efficient cars</strong></span></div>
<div>
	&nbsp;Cozy and fuel efficient cars are demanded by the customers. The customers usually go for those cars whose maintenance cost is low. &nbsp;Nepali customers prefer buying petrol cars as they have much more advantages over diesel cars. The advantages of a petrol car are that petrol engines do not create noise when being driven, maintenance of a petrol engine car is less and have a higher acceleration.&ldquo;Most of our customers buy cars for private use and they are mainly the short distanced drivers. People normally drive 15 to 20 Kms everyday. Therefore, petrol cars are really efficient and good option for that, says, Sajan Maharjan, Sales Manager at GO Ford. He further adds that diesel cars are less in demand in Nepal adding that only car rental companies use diesel cars.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Customers&rsquo; Preference</strong></span></div>
<div>
	&ldquo;The sales of smaller and spacious cars is gaining much popularity among the customers as the streets of Kathmandu are narrow, smaller cars are convenient to park and easier to drive in narrow roads&rdquo;, says Maharjan. Smaller cars are selected by the customers as they are cheaper than other SUV (Sport Utility Vehicle) or Sedan Cars. The price of smaller platform cars starts from Rs15.5 million. In Nepal, the sales of small cars like Eon, Santro, Swift, i10, i20, Grand i10, Alto are high as these are suitable cars for family and offer comfort along with some smart features. One of the causes behind their high preference is that they are Indian cars and due to this their maintenance cost becomes easy and the spare parts are easily available. &nbsp;&ldquo;While buying car the things which customers search for is that whether the car offers updated feature or not, how much fuel efficient it is, itsresale value, looks, good quality and cheap price&rdquo;, says, Dipesh Man Shakya, Deputy Manager at Laxmi Inter Continental &nbsp;Pvt.Ltd.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Street Problems</strong></span></div>
<div>
	&nbsp;Driving a luxurious car is a tough challenge as streets of Kathmandu are battered and full of pot holes. Similarly, the problem of traffic congestion does not allow smooth driving of vehicle.Therefore, in this context choosing smaller platform cars are, lot more advantageous as they have particularly high level of ground clearance which will have less contact with the road and provide a comfortable drive. Smaller cars are also more fuel efficient as they give high mileage compared to other luxurious cars.</div>
<div>
	&nbsp;</div>
<div>
	A high maintenance cost is required for the costly luxurious car as their parts and accessories are comparatively more costly than the simple smaller cars. Even fixing a small dent or a scratch in luxurious vehicles would simply mean to pour out more money. Although the main roads of Kathmandu have been expanded and still in process, the sub roads and inner streets are still smaller and this is just ideal for the smaller cars.</div>
<div>
	&nbsp;</div>
<div>
	It is also said that more CC engine in a car leads to more fuel consumption. Smaller and cheaper cars come with a less CC engine as compared to the other luxurious cars like SUVs. The smaller and cheaper cars like Maruti comes with an 800 CC engine, Santro comes with a 1000 CC engine, Hyundai i10 comes with an 1100 CC engine and Hyundai i20 Comes with a 1200 CC engine. This fact regarding the car&rsquo;s engine CC also plays an eminent role in fuel consumption and indicates the variation in its fuel mileage.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Car Selection</strong></span></div>
<div>
	People specifically in Kathmandu opt for these smaller cars which will offer good mileage with great built-in features. These features include safety features like inbuilt security alarm, air bag safety system, power steering system for a smoother vehicular control to an overall entertainment features like great powerful music speakers with a built-in Bluetooth system attached within the steering wheel itself. This even shows that in today&rsquo;s context smaller car industries are being more competitive in terms of providing their customers with the best detailed features in their car and available at an affordable price budget.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Kathmandu On Wheels" src="/userfiles/images/tr2.jpg" style="width: 550px; height: 192px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars.',
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		'Article' => array(
			'id' => '2581',
			'article_category_id' => '52',
			'title' => 'When Bulls Run To Bush',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table. The Nepali bourse has often behaved beyond any rational expectations and market analysis. There was no reason for it to fall as low as below 300 in 2011 and even at present the speedy bull run is not fully justifiable. The index has climbed about 50 percent from 529 points in mid-July 2013 and to 780 mark on third week of January 2014.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepal Stock Exchange Index" src="/userfiles/images/editor1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 154px;" />Interestingly, this rise is witnessed when trading of stocks of a number of new companies, mainly the new commercial banks, began. The situation apparently is of over-supply and there has not been any substantial change in economic fundamentals to push the Index up, except the fact that last CA elections saw the defeat of hard-line communist forces, like Maoists. If the investment were to be made for returns, this political change alone would not perhaps be enough to ensure higher&nbsp;</div>
<div>
	yield. But, investors do not seem to be bothered by this.</div>
<div>
	&nbsp;</div>
<div>
	To some extent, the volatility of the market by its nature is understandable, but the reason d&rsquo;&ecirc;tre of this, generally, is however never beyond comprehension. At least, it should not have been the case given the availability of modern-technology assisted analysis, both fundamental and technical. But that is what exactly happening in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	When markets run amok, bullish or bearish, without any convincing economic explanation, there is no reason to be happy. Nepal&rsquo;s capital markets have some basic characters that make it very risky. It is not only unintegrated to the international market, but also lacks even a few traders who would trade in Nepse and some other international exchange, simultaneously. Therefore, the impact of international market in Nepali secondary market can be completely ruled out. The real sector, for all practical purposes, has no presence in the capital market and it is dominated by the financial service providers, a few hotels and lately some hydropower companies. This means, our capital market trends do not necessarily reflect the degree of fitness of our economy. And, except for some time-trained crooks, there are very few informed or educated investors, causing mismatch between the expectations and returns.</div>
<div>
	&nbsp;</div>
<div>
	The regulator is equally novice and naive. Political appointments of the people to the Stock Exchange Board who lack specific knowledge about the trade have made the situation worse. The most dangerous part is that, no public agency is even contemplating about the possibilities and procedures of listing more real sector, mainly manufacturing, companies into secondary market. It is indeed an uphill task since it requires much higher level of willingness of the private sector to register in the bourse. It in turn requires transparency at every step of the transaction of the companies from, imports, customs evaluation, VAT and excise, sales, and ultimate balance sheet and auditing. Nobody seems prepared for this mammoth task that has not only economic cost but also demands a high degree of business integrity and honesty.</div>
<div>
	&nbsp;</div>
<div>
	But, without bringing the real sectored on the trading screen, the rationale of the secondary market could hardly be justified. The result, it will continue to be victim of irrational volatility. The new government that will be formed soon should take three major steps: first appoint knowledgeable persons of the sector in the regulatory board, second create a joint platform of Nepal Rastra Bank, the Board, Ministry of Finance and the private sector to promote financial education about the secondary market and begin brain storming to identify the causes that are hindering real sector to enlist in Nepse and resolve them. Only this will create a credible stock market in Nepal.</div>
<div>
	&nbsp;</div>',
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			'created' => '2014-02-10',
			'modified' => '2014-02-18',
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			'description' => 'The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table.',
			'sortorder' => '2434',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2586',
			'article_category_id' => '46',
			'title' => '“We Are On The Lead Position In SAARC Region”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;">Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year. The government recently picked <strong>Anoop Ranjan Bhattarai</strong>, who was previously serving as Director at the company&rsquo;s Wireless Telephone Directorate, to lead the company. Bhattarai is regarded as one of the few smart techies in Nepal with considerable knowledge of technological aspect of the telecom industry. Soon after he assumed the new position, he spoke to <strong>Siromani Dhungana</strong> of New Business Age about his plans for leading the company.<strong> Excerpt:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What does your appointment as MD of NTC promises to its consumers and stakeholders?&nbsp;</strong></span></div>
<div>
	My appointment as the Managing Director is a breakthrough to a 3-month-long deadlock in finalizing the organizational leadership. This appointment is the change for betterment; betterment for the organization, betterment for the staffs working here, and most importantly betterment for all our stakeholders. My tenure as MD of the organization will concentrate in providing world class advanced and consumer friendly telecom services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Some officials and even trade union representatives often talk about making reforms in the company. What areas are you planning to reform?&nbsp;</strong></span></div>
<div>
	My key areas for reform will center on improving company&rsquo;s work culture, increasing its efficiency, ensuring timely execution of projects and improving service delivery. If we pay appropriate attention to these sectors, our performance will improve and thereby enable use to remain competent in the free market economy.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Quality of service has often been controversial when we talk about Nepal Telecom. Even the regulator blames NT for flouting quality indicators. You are perceived as a person with guts to reform the company. How is your appointment going to change anything that Nepali consumers can feel the benefit?</strong></span></div>
<div>
	Of course, the quality of service in urban areas is going to be improved and these changes can be perceived within one month. After upgrading networks in urban areas, we will focus on improving quality of services in the rural areas. I assure our customers across the country that in a few months time there will be visible improvements in the quality of our services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Do you think you will be able to overcome political hurdles that might be obstructing the performance of Nepal Telecom?</strong></span></div>
<div>
	As a government owned company, all stakeholders including the political system, definitely wants to see it growing and increasing its contribution to national development. &nbsp;I do not think there will be any political hurdles that will obstruct growth of the company. All we have to do is ensure that all initiatives are conducted in transparent and reliable manner.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you tackle problems created by Public Procurement Act?</strong></span></div>
<div>
	At present, NT has to follow Public Procurement Act. Consultation process is going on with the Public Procurement Monitoring Office (PPMO) so as to refine or redefine the directive. I am confident that the ongoing as well as additional consultation processes will help NT move forward more efficiently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>News reports during last year claimed that NT provides unnecessary perks and facilities to officials at the Ministry of Information and Communication. What will you do to this end?</strong></span></div>
<div>
	I am not aware of such services being offered to the ministry or its officials. And the ministry has also not requested for the same from the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Successive leadership at NT has been failing to materialize the plan of bringing strategic partner to increase competency of the company. Can we expect anything tangible from you?</strong></span></div>
<div>
	The process for introducing strategic partner is gaining momentum. Within few weeks, NT will initiate the process. I am hopeful fresh initiatives will be successful in bringing strategic partner in the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you see the challenges from private operators at the moment? Will you bring specific plans to cope with those challenges?</strong></span></div>
<div>
	We offer diverse service and have a dominant presence throughout the nation. Our competitors are lagging far behind compared to us, in general. However, we have experienced competition in certain business aspects of telecommunication services. This has opened up new opportunities for NT to grow from within. We should accept challenges and take it as an opportunity to do even better in the future.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What new services can we expect from you?</strong></span></div>
<div>
	We have seen a huge demand for reliable and affordable data service in coming days. So we are mainly focusing on the same. In this fiscal year we will launch WiFi and FTTH (Fiber to the Home) services. Our expert team is also exploring the areas of service expansion. Naturally all our existing as well as prospective consumers demand reliable, diversified and advanced services from Nepal Telecom and as a service provider we are all working and focusing more on the same to make tangible improvement in the options and quality we offer. We also have plan to introduce new services like WiFi, countrywide 3G services through GSM and CDMA technologies and also have plans to provide our own Social Networking Service very soon.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What do you think the major challenges for the company are?</strong></span></div>
<div>
	Our major challenges, as of now, are:</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Bridge the digital divide</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Modernizing customer service&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Proceedings to introduce an international strategic partner</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Boost employees&rsquo; morale and improve work culture</div>
<div>
	These are some major challenges. The list may go even longer. We have to come out with appropriate solution for all challenges. I will put my effort to overcome these challenges during my tenure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Till the mid-80s, Nepal was considered as a country having the best telecom services in the region. What happened since then?</strong></span></div>
<div>
	NT has already launched 4G WIMAX service. We were the first to launch 3G services in the SAARC region. So technically speaking, we are still in leading position within the region and we will not let our achievements to go down.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>You have also expertise in modern technology. Please share your experience and plan to expand new technology including LTE?</strong></span></div>
<div>
	We have applied for frequency spectrum for LTE and once we get it, we will start deploying LTE in all major cities. Within 2015, we aim to provide LTE services throughout the nation.</div>',
			'published' => true,
			'created' => '2014-02-13',
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			'description' => 'Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year.',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2564',
			'article_category_id' => '109',
			'title' => 'Nepse Recovers Due To Buying Pressure',
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			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country&#39;s capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Analysts say it is a natural recovery as the index was in decreasing trend during the last two weeks. They claim that though most listed companies have declared and distributed cash dividends and bonus shares, many investors are still shying away to invest to their full capacity even at current lower prices. &quot;Once they got the preferred stocks at the lower price, it is obvious to increase the demand for them which in turn boost up the index&rdquo;, said an analyst.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The recovery of stock market seems to have contributed by double-digit growth of hydropower, insurance and development bank sub-indices. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For the week, shares worth Rs 121.12 billion totalling 3.34 million units were traded in the stock market through 13148 transactions. Compared to the previous week, the turnover, number of transactions and unit of shares traded increased this week. This indicates that the selling pressure is reducing and the buying pressure is building up. Last week, Nepse index logged highest level of 785.78 points and lowest level of 769.51 points.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hydropower sub-index gained its position as the biggest gainer with 82.3 points for the week. Similarly, Insurance was the second in the line, which rose 59.53 points followed by Development Bank (16.62 points) and Finance (8.04 points). Similarly, trading sub-index increased by 5.92 points for the week while Manufacturing and Processing&#39;s sub-index remained unchanged throughout the week. The Hotels sub-index continued its losing streak as it was the biggest weekly loser with 7.01 points followed by Banking (1.9 points) and &#39;Others&#39; (1.18 points). Meanwhile, the Sensitive Index representing the share trading of blue chip stocks belonging to class &#39;A&#39; listed companies increased 0.36 points during the week. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/index1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country's capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.',
			'sortorder' => '2432',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2551',
			'article_category_id' => '137',
			'title' => 'Nepal Among The Weakest  In Securing Property Rights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index comprises of three key sub-indexes: Legal and Political Environment, Physical Property Rights and Intellectual Property Rights. The overall grading scale of the IPRI ranges from 0 to 10, where 10 indicates the highest value for a property rights system and 0 the lowest value within a country. Similarly, Nepal also fell among the weakest in securing intellectual property rights. With a score of 4.2 points, Nepal ranks 95 in intellectual property rights sub-index. It also fared poorly in terms of protecting intellectual property rights, patent protection and copyright protection.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, Nepal ranked 113 in legal and political environment sub-indexwith a meagre score of 3.3 points. &nbsp;The country&rsquo;s performance in judicial independence, rule of law, political stability, and control of corruption were also seen below par in the index, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Nepal performed better in physical property rights sub-index where it scored 6.0 points and ranked 68. In terms of protecting physical property rights the country scored a mediocre 5.0 points. Meanwhile the country performed strongly in registration of physical properties with a score of 9.5 points and achieving 6thspot among 130 countries in the index.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The IPRI 2013 has placed Nepal&rsquo;s southern and northern neighbours - India and China- on 57th position in the index. Sri Lanka, Pakistan and Bangladesh ranked 76, 118 and 126 respectively. According to the report, Singapore is the highest-ranking Asian country (rank-7, score-8.1 points). &nbsp;Finland, Sweden, New Zealand, Norway, Netherlands and Switzerland dominated the top-five spots whereas, Bangladesh, Libya, Venezuela, Burundi and Haiti were the bottom-five countries in IPRI 2013.</div>',
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			'created' => '2014-02-09',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries.',
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		'Article' => array(
			'id' => '2505',
			'article_category_id' => '138',
			'title' => 'Unemployment On The Rise In South Asia: ILO',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the &lsquo;Global Employment Trends 2014&rsquo; report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region&rsquo;s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. &nbsp;&ldquo;The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth &ndash; growth that also leads to job creation in the formal economy,&rdquo; it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region&rsquo;s labour market. &ldquo;In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,&rdquo; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to ILO estimates Nepal&rsquo;s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region&rsquo;s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div>
<div>
	Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. &nbsp;The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.&rdquo;The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan&not;istan to 79.4 per cent in Nepal,&rdquo; it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div>
<div>
	ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. &ldquo;The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,&rdquo; ILO said. Based on the current trends, ILO said &ldquo;global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2583',
			'article_category_id' => '40',
			'title' => 'New Nepal Government Setting The Economic Agenda',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By NBA Team</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali economy counts on post-election confidence. With the elections for the Constituent Assembly (CA) and the legislature parliament just concluded, general public and business leaders want one thing for certain &ndash; political stability and economic prosperity.</div>
<div>
	&nbsp;</div>
<div>
	Nepali business and consumers have been on a decade-long roller-coaster ride of unstable government with changes in leadership, epic legislative struggles and policy reversals culminating in what has amounted to a mess.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now there are rays of hopes. The return of political stability is expected everywhere. Business community is upbeat by the successful second CA election. As the liberal forces are going to take the helm of the government, all are waiting for a decisive outcome that can provide real relief to people. And, it is the business community which has been waiting for a favourable situation for their business and investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Decoding the Election Result</strong></span></div>
<div>
	People expressed their aspirations and exercised their power during this election to set the progressive course for issues that matter them the most. Interestingly, people filtered those parties who often take to the street to fulfill their demands but fail to deliver when they lead the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The victory of Nepali Congress in the urban areas clearly indicates that urban voters favour liberal economy. Similarly, the fact that majority of votes were secured by Nepali Congress reflects people&rsquo;s will to be led by a political party which is in favour of social harmony and cohesion.</div>
<div>
	&nbsp;</div>
<div>
	Needless to say that the business community was terrorized due to the hotpotch federal agenda put forth by UCPN (Maoist) and other ultra-leftist groups in a belligent manner. The recent poll results might have relieved the entire business community.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Business goes beyond the ethnicity. An entrepreneur from Madhesh has to do business in the hilly region and vice versa,&rdquo; says former finance secretary Rameshore Khanal. &ldquo;Political parties now should raise the issue of &lsquo;economic nationalism&rsquo; instead of creating tensions among various castes and classes,&rdquo; he remarks. In his words, policy stability and policy consistency is more important than caste and regional issues for development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Long Journey&nbsp;</strong></span></div>
<div>
	Nepal became the 147th member of the World Trade Organization (WTO) in 2004. It is now over two decades since the government adopted liberalization and a development model based on private enterprise and foreign investment, with the market forces as a major driver of the economy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, the government&rsquo;s initiatives for strengthening the private sector have been illusive over the last decade. With over decade-long experience, it is perhaps time to evaluate the advantages Nepal took from the WTO membership and way forward to get maximum advantages as a WTO member.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is now time to seriously revisit the deep trade deficit Nepal has continued to run, says Bhawani Rana, vice president of FNCCI, one of the private sector umbrella organizations. The new government needs to make an overview of our foreign investment trends and identify policy bottlenecks, she emphasizes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>We Can, If We Want</strong></span></div>
<div>
	In the early 1990s, the entire business environment was affected due to the people&rsquo;s movement. Democracy was recently restored. The country was in a state of euphoria as all had much expectation from the new democratic government. But the country&rsquo;s economic situation was not good as the overall economic indicators were in the red. Foreign reserve was depleted. In such a situation, Nepali Congress formed the government and was successful to bring economy back on track.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	That was thanks to the fact that one of the proponents of free market economy, Dr Ram Sharan Mahat took charge of the finance ministry. Though opponents blamed him for favouring economic giants, he despite criticism firmly advocated free market economy and that has proved to be the right decision. The country achieved a record high growth of 8.60 percent in the GDP in 1994.</div>
<div>
	&nbsp;</div>
<div>
	The situation after the 2013 election could hardly differ, hope the businessman and ordinary people. The situation is similar and so are the people&rsquo;s expectations. The early 1990s have proved that the economy can revive if the political leadership is committed for that, says economist Dr Jagadish Chandra Pokharel. A revival in confidence is sorely needed if the country is to deal with the slowdown in economic growth, he adds. The new government should facilitate the business environment. Stable policies and investment friendly mechanism help to make a recovery in business confidence, according to him. But, as NC this time is most likely to form the government with CPN-UML as almost equal partner, doubts are high wether the post-1990 miracle can be repeated. When CPN-UML came to power replacing NC during post-1990 period, it had reversed some crucial policies adopted by NC.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Fear Side</strong></span></div>
<div>
	Moreover, the country&rsquo;s economic sector is not completely terror-free. The Baidya-led ultra-left communist party may create troubles for the sake of making its presence feel. Given Nepal&rsquo;s immediate past, communal and caste issues may resonate strongly in the country&rsquo;s psyche, across the wide-ranging social and economic strata. Understandably, left-extremism (including UCPN-Maoist) may try to create trouble given the humiliating loss experienced by them in the latest polls. Though their presence has significantly reduced in the national politics, left-extremism may try to fuel labour issues to create trouble in the industrial relations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Economists, however, argue that the economy and its development, and distribution of benefits, are at least as important as the emotional issue about communities, castes and class politics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It&rsquo;s clear that uncertainty over policy regime and regulations has been a hindrance to foster investment climate in the country,&rdquo; says businessman Pashupati Murarka.</div>
<div>
	&nbsp;</div>
<div>
	The only way out from the existing chaotic situation is to create more and more jobs in the country, Murarka reiterates. The country cannot get rid of political instability until the youths are left jobless, he claims.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Silver Lining&nbsp;</strong></span></div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success&nbsp;</div>
<div>
	or failure.</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was good enough to maintain its basic economic indicators in the positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s micro as well as macroeconomic indicators are positive. &ldquo;We have sufficient foreign currency reserves,&rdquo; says joint secretary at the finance ministry Madhu Kumar Marasini. He underlines the need for utilizing the remittance inflow in the productive sector. &ldquo;All we need is proper management of our own resources to open new avenues of development,&rdquo; he opines.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. And, it is sure that the country can improve its economic indicators if we get visionary leadership, claims former finance secretary Rameshore Khanal.</div>
<div>
	&nbsp;</div>
<div>
	Nepal has made significant progress in various sectors including health, education, drinking water and telecommunication which clearly shows that the country&rsquo;s economy is ready to take off and all it needs is a runway to move on.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>The Issue of New Constitution&nbsp;</strong></span></div>
<div>
	Drafting the new constitution is going to be an uphill task. There are many differences among political parties. But, the country cannot bear perennial transition. It is the need of the hour to fulfill the aspirations and dreams of the people in a positive manner.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Underdevelopment creates multiple problems. It fuels the frustration and pessimism among people which is not good for country&rsquo;s economic health. And, politicians often blame the political transition for the dysfunction of development. In order to end the culture of blame game, we need the constitution which can end the existing political fiasco.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The business community wants this government to draft the constitution on time, opines Rajan Singh Bhandari. The economy cannot go ahead in an ad-hoc basis forever. This fact should be realized by all political parties and they need to draft the new constitution and promulgate it within the stipulated time, he adds.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Conclusion&nbsp;</strong></span></div>
<div>
	Many leaders often express the hopes of transforming Nepal into another Switzerland. And, it is not a far cry if we try. Can economic prosperity be achieved in a country that reels under perennial political problems? Entrepreneur Hari Bhakta Sharma says, &ldquo;Yes, we can achieve economic prosperity.&rdquo; We can achieve every success if there is collective effort from the government and the private sector and positive vibes for development among people, he claims.&nbsp;</div>
<div>
	It is widely believed that the new government will be successful to take a decisive role to make our collective dream of becoming rich and prosperous a reality. And, we all need to be clear that the economic prosperity is not meant only for business community but for all of us. Let us make a collective dream and start the journey of becoming a prosperous nation. It is a fact: &ldquo;United we stand and divided we fall.&rdquo; Let&rsquo;s make a collective effort to be the citizens of a prosperous country.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Cover Story" src="/userfiles/images/cs1%20(Copy)(3).jpg" style="width: 575px; height: 570px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
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			'created' => '2014-02-12',
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			'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal,  current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events,  ongoing  cover story news of nepal',
			'description' => 'The results of the second Constituent Assembly (CA) election show that parties contesting on very radical economic ideologies have been rejected by the voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in the urban areas across the nation.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2563',
			'article_category_id' => '134',
			'title' => '‘The Corporate Sector Must Lead MAN’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Janak Raj Shah</strong> is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7).<strong> Akhilesh Tripathi</strong> of The Corporate caught up with Shah, a former National Planning Commission member, for an interview. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the objectives of MAN? How successful has MAN been to achieve its objectives?</strong></span></div>
<div>
	Established in 1979, MAN is a nongovernmental organization and the apex body of management professionals in Nepal. It&rsquo;s a think tank with active support of the country&rsquo;s corporate sector. It has a strong membership base of over 2,000 individuals and 250 institutions from different disciplines and sectors of Nepali economy and society. It also provides policy recommendations to the government.</div>
<div>
	&nbsp;</div>
<div>
	The main objective of MAN is to apply, develop and promote management science and make necessary arrangements to offer such knowledge in Nepal. The other objectives are: bringing professionals and institutes related to management development under one umbrella through networking so as to facilitate interaction, innovation and pro-active involvement for promoting management professionalism; consolidating management development through education, training, research, consulting and information services; and keeping members informed of new developments in professional management approaches and their uses.</div>
<div>
	&nbsp;</div>
<div>
	MAN has been pursuing various activities to achieve these objectives for the last 33 years. These activities include interactive sessions, researches/studies and consultancies, EMBA program, professional training courses, bestowing management awards, membership expansion drive, institutional networking and so on.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>MAN executive committee and its general membership are dominated by bureaucrats. Why is the participation low by the corporate sector?</strong></span></div>
<div>
	The situation was like that in the past. For a long time, the pro-activeness of bureaucrats contributed a lot to MAN&rsquo;s activities. The situation has started to change now. The number of MAN members from the corporate sector has been increasing. They are contributing to MAN&#39;s activities directly and indirectly. I am of the opinion that the corporate sector must lead MAN as per its vision and objectives. Realising this fact, we are inviting managers from the corporate sector to participle in MAN&rsquo;s activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your achievements as MAN President for two consecutive terms?</strong></span></div>
<div>
	I have successfully completed two terms as MAN President. I am satisfied with the performance of MAN. However, we have to do a lot in the time to come. &nbsp;We have worked for preparing and implementing MAN&#39;s strategy to increase its height in the field of management development. We are successfully running an EMBA programme of Purbanchal University. We have been able to open MAN&#39;s Chapters in Pokhara, Dhangadhi and Biratnagar. I am optimistic that other Chapters will be opened in other parts of the country. One of MAN initiatives, the Management Development Campus, was able to receive the Best B-School Award 2010 from the CMO Council. As the president of MAN, I received the &#39;Golden Star Academic &amp; Educational Excellence Award 2013&#39; under Education Leadership Award at the &lsquo;World Marketing Summit, Malayasia 2013&#39; - a Philip Kotler Initiative for a Better World.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the things that you wanted to do but couldn&#39;t do because of various reasons?</strong></span></div>
<div>
	I had a dream of having MAN&rsquo;s own building to expand its activities smoothly and efficiently. During my tenure, I could not materialize this dream of infrastructure development. The participation from the corporate sector in MAN&#39;s activities is limited. However, I tried my level best to bring the private sector, more specifically the corporate sector, to this forum. The government&rsquo;s support to MAN&#39;s activities is not adequate though the government has helped us by sending students to our EMBA programme and providing us some grants every year.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the international organizations that MAN is affiliated with? What benefits in terms of knowledge sharing has MAN got from this affiliation?</strong></span></div>
<div>
	MAN is one of the founding members of the Asian Association of Management Organizations (AAMO) which is working in the Asia Pacific region. It has also close links with the American Management Association (AMA), All India Management Association (AIMA), North India Management Association (NIMA) and many others. We have also signed MoUs with other national and international organizations such as AAMO, Rai Foundation, and NIMA for scholarship programmes. These linkages have helped MAN to have access to information on the best management practices and techniques available in other parts of the world.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are MAN&rsquo;s challenges?</strong></span></div>
<div>
	Resource constraint is the main challenge which has affected the sustainability of MAN&rsquo;s activities. Limited participation of Man&rsquo;s members in its activities is another challenge. Having MAN&rsquo;s own building is yet another challenge. This has been my dream as well. To turn the dream into reality, we made our level best efforts and even requested the government to provide us land in the &lsquo;right to use&rsquo; (BHOGADHIKAR) mode as other similar non-governmental organizations have got land from the government. But this process is yet to reach a logical conclusion. If we could meet these challenges, MAN&rsquo;s activities could be run in a sustainable way.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your expectations from the new Executive Committee?</strong></span></div>
<div>
	I have many expectations from the new executive committee to be elected. I am optimistic that new team will add some bricks for the overall development of MAN. The prospective executive committee members in scene are well-known professionals from different sectors and as dedicated successor they deserve to lead the MAN ahead. So I shall be more than happy to handover MAN to the new team. I would like to suggest to the new team that they should focus themselves on MAN activities such as adding value to trainings, EMBA programme and research. MAN&rsquo;s roadmap is clear with its strategic vision and objectives. But it needs to be backed by the action plan which is lagging behind. Therefore, they should create an environment and motivate MAN members to contribute by participating in the various sub committees. Equally, the attention should be given to infrastructure development of MAN. For your kind information, I also will be there as the part of team as an executive member in the capacity of Immediate Past President (IPP). MAN believes in togetherness and cooperation, so again it is my pride to be there to contribute to MAN in the future as well.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Janak Raj Shah is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7). Akhilesh Tripathi of The Corporate caught up with Shah, a former National Planning Commission member, for an interview.',
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		'Article' => array(
			'id' => '2578',
			'article_category_id' => '206',
			'title' => 'LG G2: Twice The Genius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--BY Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="LG G2" src="/userfiles/images/lg%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 262px;" />LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone. In terms of hardware specifications, the G2 is among the most powerful smartphones that money can buy. The phone is powered by a quad-core 2.26 GHz Krait 400 processor clocked at 2.26GHz which uses the latest Qualcomm MSM8974 Snapdragon 800 chipset. &nbsp;Similarly, with LPDDR3 2 GB RAM and Adreno 330 GPU, G2 can handle most of the heavy tasks very easily. Be it high-end mobile gaming or multitasking, the phone runs smoothly without showing any sign of snag.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The G2 sports a 5.2 inch True HD-IPS + LCD capacitive touch screen protected by Corning Gorilla Glass 2. The front of the phone looks attractive with and exceptionally thin bezel. The company calls it &#39;near zero bezel&#39; for &#39;edge to edge viewing&#39;. With 442 ppi pixel density, its screen has a resolution of 1080 X 1980 pixels which gives vibrant and crisp display. G2 uses Graphic RAM (GRAM) technology that claims to reduce the display&acute;s energy use by 25 percent. On top of Android Jelly Bean 4.2.2 OS, G2 runs on LG&#39;s Optimus UI. The OS has its own unique customizations with features like guest mode (multiple user option) and KnockON (unlock/lock phone with a double tap on the screen) among others. G2&#39;s build is excellent as it has a high-gloss plastic body. The phone feels lighter in hand weighing just 143 grams.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	G2 houses a powerful camera system. A 13 megapixel snapper sits on its back while the front side sports a 2.1 MP secondary shooter. Both cameras can be activated simultaneously. The primary camera comes with optical image stabilization which also features HDR mode. Users can capture photos at a max resolution of 4160 x 3120 pixels. With the primary camera, the G2 records 1080p videos at 60 fps along with the front camera shooting full HD videos at 30 fps. Physical buttons are absent throughout the sides. Strangely, it houses all the buttons (power key and volume rocker) at the back of the phone, just below the secondary camera. Users can have awesome sound experience with G2 as it is packed with Dolby mobile sound enhancement. Audio Zoom is another special feature which lets users zero in on a sound source, simply by zooming in on the subject while shooting a video. The phone also houses a stereo FM radio with RDS.</div>
<div>
	&nbsp;</div>
<div>
	On the power backup front, the phone has 3,000 mAh battery. It can give a backup for 34 hours of talk time on 2G and 15 hours on 3G. Storage, however, seems to be an issue. The G2 comes with 32 GB internal storage and does not have a microSD card slot for memory expansion. CG Impex Pvt Ltd, the authorised distributor of LG smartphone in Nepal launched G2 amid a function on February 4, Tuesday. The company has priced the smartphone at Rs 75,000 in the domestic market.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone.',
			'sortorder' => '2427',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2582',
			'article_category_id' => '153',
			'title' => 'Chyangra Pashmina Regains Warmth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Eliza Tuladhar</strong></div>
<div>
	&nbsp;</div>
<div>
	With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life. Pashmina product is one of the major exportable products of the country but the export of the product started declining in the early 2000 when the international market started importing Pashmina products from Chinese and the Indian Market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The loss of reputation has significantly affected the Pashmina that was a very strong export industry for Nepal. In the year 2000, the industry had exported Pashmina worth Rs 15 billion but it has reduced to a mere Rs 1 billion currently due to the cheap fake products that keep the market flooded.</div>
<div>
	&nbsp;</div>
<div>
	However now with the support of WTO/EIF Trading Stories project the Pashmina industrialist are hopeful to revive its international trading and minimize the threat created due to the increasing number of export from the Chinese and Indian market. According to Nepal Pashmina Industries Association (NPIA) President, Pushpa Man Shrestha, the association is hopeful that the project will start from March this year. &ldquo;The project under the WTO/EIF Trading Stories is a three years long project which will be basically focused on showcasing, Chyangra farming, production of raw material, Pashmina manufacturing process and finally its trading process,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The &lsquo;Pashmina Enhancement and Trade Support project under WTO aims to respond to trade related priorities in the Nepal Trade Integrated Strategies as well as to build sustainable local capacities and leverage additional resources from development partner pursuant to the goal. The project will contribute to achieving improved and increased export performance by at least 20 per cent. Chyangra Pashmina from Nepal is exported to more than 60 countries and the &lsquo;Chyangra&rsquo; trademark is registered in more than 40 of these countries.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Due to weak quality control and nominal productions of domestic raw materials, as well as lack of brand awareness of Nepali &lsquo;Chyangra Pashmina&rsquo; in the international market the export of Pashmina has been disturbed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>History of Pashmina</strong></span></div>
<div>
	Pashmina is the finest inner wool that grows as layer at the very bottom of thick and coarse fibre of Himalayan goat, locally known as chyangra (Capra Hircus), living above 2000 meter from the sea level. Each chyangra does produce 90 grams of Pashmina once a year. It is extracted from its body either by combing or by cutting during January to February. Pashmina is one of the finest, softest, warmest and lightest wool found in nature. In fact, it is the best wool in the world. Pashmina is known by different names like &ldquo;Diamond Fibre&rdquo; and &ldquo;Soft Gold of High Asia&rdquo;. It is unparalleled in uniqueness and elegance to any other fibres. The main raw materials used for producing Pashmina products are &lsquo;Pashmina Yarn&rsquo; and &lsquo;Silk Yarn&rsquo; plus dyes and chemicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pashmina in Nepal" src="/userfiles/images/pmn%20(Copy).jpg" style="width: 550px; height: 260px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Production of Pashmina&nbsp;</strong></span></div>
<div>
	The production process of pashmina product generally includes weaving, dyeing, processing, fringing, tassels, embroidery, beadwork, printing etc. Nepali Chyangra Pashmina, one of the major exportable product of the country is &lsquo;the softest, exotically, delicate, weightless and the finest insulating fibre of the world with high potential for export to the European market. The outer layer of Chyangra is discarded and only the inner layer of fibre measuring less than 16.5 microns is specified for use as Pashmina. These extraordinary characters of Pashmina fibres have encouraged weavers to produce various types of wraps for warmness. The exquisite characters of Nepali Chyangra Pashmina have established it as the most precious possession. The Pashmina fibre thus obtained from the Chyangra are spun into thin yarn which is woven to make different types of Pashmina products like blankets, shawls, stoles, scarves as well as pullovers, cardigans etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pricing of Pashmina products&nbsp;</strong></span></div>
<div>
	The price of Nepali Pashmina product basically depends upon its quality, ordering size, colour, design and size. Almost all of the Pashmina industries are concentrated in the Kathmandu Valley. They are absolutely export-oriented. However, it has been given the impression that as many as 5 per cent of its products may be consumed within the country. Pashmina products account for more than 50 per cent of the total export figure of the handicraft products. And it is the major export component under the handicraft goods category.</div>
<div>
	&nbsp;</div>
<div>
	The number of international export markets of Nepali Pashmina products exceeds 40 out of which, USA, Italy, Canada, UK, France, Japan, Germany and India are the major ones.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges faced by Nepali Chyangra Pashmina</strong></span></div>
<div>
	Nepali Pashmina industries need to import all the raw material. Pashmina Yarn and Silk Yarn are imported from China and India and Chemicals and dyes from Europe and India. It can be made of pure Pashmina yarn or by using both Pashmina yarn and Silk yarn in a certain proportion normally in the ratio of 70:30, depending upon the demand of the buyers. Fineness, softness, warmness, lightness, durability and craftsmanship are its inherent features. Shrestha also claimed that lower priced Indian Pashmina products have hit the market of Nepali Pashmina and has made it difficult to survive the growing price competition. Pashmina exporters also say that according to the international buyers, price of Nepali Pashmina products is around 30 per cent more than that of Indian products. Indian exporters can buy huge quantity of raw materials and have started their own spinning that has made their products more competitive in the international market.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pashmina industries in the country&nbsp;</strong></span></div>
<div>
	According to Nepal Pashmina Industries Association (NPIA) there are around 20 industries that have exports of around Rs one billion including exports to India. There are 300 Pashmina exporters registered at NPIA and out of them 20 have high production capacity and with good export figures. There are around two to four industries who also export Pashmina to India.</div>
<div>
	&nbsp;</div>
<div>
	Pashmina was famous across the world for the past couple of decades but with the introduction of low priced and fake Pashmina wool, the original Pashmina industry is fighting for existence. However the product is gradually being reintroduced as the brand &lsquo;Chyangra Pashmina&rsquo;. &ldquo;We have tried to reintroduce the Nepali Pashmina with the brand &lsquo;Chyangra Pashmina; and we hope that the WTO/EIF project will give us much required support to move ahead with promotion and development of new products and improvement of the products that will meet the demands of the international market,&rdquo; said Shrestha. The association along with the government has registered a collective trademark &lsquo;Chyangra Pashmina&rsquo; and its logo in the domestic and international markets to get rid of fake pashmina. Chyangra pashmina is now a registered brand in 41 countries. The association has also applied for its registration in South Africa, Brazil, Russia, Taiwan and the UAE.</div>
<div>
	&nbsp;</div>
<div>
	The World Trade Organization has recently developed trading stories of Pashmina to create awareness about the product and bring more opportunities for it in the international market. The Pashmina trading story includes each step of production &ndash;&ndash; from Chyangra farming to processing &ndash;&ndash; which will help create awareness about pure Chyangra Pashmina among the people in around 148 countries.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Shawl" src="/userfiles/images/1%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 50px; height: 102px;" />Shawl</strong></span></div>
							<div>
								Pashmina Shawls are the most exportable Nepali product. It is loosely worn over the shoulders, upper body, and arms. Generally in Nepal it is used by ladies in parties and function, outings in winter season where as in the western countries female use it anytime as a fashion statement.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Stole" src="/userfiles/images/2%20(Copy)(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 75px; height: 90px;" />Stole</strong></span></div>
							<div>
								Pashmina stole is a smaller form of the shawl. Nepal is renowned all over the world for its finely woven Pashmina stoles. Stoles are mostly used by younger generation without wrapping. It covers the shoulders and falls down in front of the body.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Scarf" src="/userfiles/images/3%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 80px; height: 100px;" />Scarf</strong></span></div>
							<div>
								A scarf is a piece of fabric worn around the neck for warmth. &nbsp;Nepal is well known for its finely woven Pashmina scarves. It is also one of the most exportable products.&nbsp;</div>
							<div>
								&nbsp;</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life.',
			'sortorder' => '2426',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2575',
			'article_category_id' => '99',
			'title' => 'Reach The Clouds From Hotel Shambala',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel. &ldquo;Hotel Shambala is a modern hotel with a traditional touch, offering luxurious amenities,&rdquo; said Ghising.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The entire hotel is built around the theme of Tibetan art, and has its elements everywhere. It includes the use of bright and vibrant colours, Tibetan themed decorations and most noticeably, the use of typical clouds used in the art form. The front desk at the lobby, the walls and ceilings of rooms, pillows and bed sheets all have images of clouds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The eight-storey Hotel has 65 deluxe and standard rooms and three suites. All the rooms are impeccably furnished and offer all the modern amenities possible. With adequate space and a great view, all of the rooms are fully air-conditioned. There is a safety locker, coffee maker and LED TVs in each room. Great attention is paid to comfort and luxury, as all the furniture is very cosy and all the mattresses used are imported. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala also boasts of a multi-cuisine restaurant named Erma that spreads across a wide area, and can cater to around 80 diners at once. The restaurant also follows the theme of clouds, and is equally lavish as the Hotel itself. The restaurant serves Continental, Indian, Chinese and Tibetan delicacies among others. &nbsp;There is a bar adjoining the restaurant with a good assortment of liquors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Worthy of mention is the Ayatana Spa of the Hotel. The Spa offers services like different massages, sauna, Jacuzzi, steam and beautification services like facial and others. The Spa is open to guests from outside as well. There is also a lounge and an infinity pool on the roof of the Hotel.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is not just one of the plushest hotels around, but also is one of the safest. There is an emergency exit and fire hose on each floor, along with smoke detectors and glow-in-the-dark signs at exits. Apart from its safety features and lavish amenities, all the usual hotel services like laundry, parking, 24 hour power backup and hot water among others are there.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is offering promotional rates till September. With the offer, a night here will cost you USD 75 for single room and USD 85 for double. &nbsp;Try Hotel Shambala for an elegant and classy stay, all complimented by impeccable hospitality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotel Sambala" src="/userfiles/images/t2%20(Copy).jpg" style="width: 550px; height: 151px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel.',
			'sortorder' => '2425',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2580',
			'article_category_id' => '116',
			'title' => 'Namaste Infotech Enters 5th Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="NAMASTE INFOTECH" src="/userfiles/images/nm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 185px;" />Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Managing Director of the company Ekraj Sedhain informed that the company has been providing IT based services and solutions to a numerous sectors. According to him, the company is providing services like ICT counselling, ICT auditing, and system and network solutions. He informed that the company also provides counselling on how to maximising the IT infrastructure, and ways of preventing its &nbsp; misuse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Namaste Infotech also vends ICT equipments according to the requirement of the customers. The company informed that it will soon provide maintenance services to individuals and households at a relatively affordable price.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-12',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.',
			'sortorder' => '2424',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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			'in_scroller' => false,
			'user_id' => '0'
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	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2579',
			'article_category_id' => '199',
			'title' => 'Tech Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>YouTube Starts Auditing Video Views</strong></span></div>
<div>
	The video-sharing website YouTube said it has started to &ldquo;audit&rdquo; the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like &ldquo;redirects&rdquo; or &ldquo;buying&rdquo; views to boost their count. YouTube said it will now &ldquo;periodically&rdquo; validate the views on videos and remove the fraudulent ones from the total.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Wearable Device Turns Your Palm Into Touch Screen</strong></span></div>
<div>
	A new gesture-based wearable transmitter that turns your palm into a touch interface has been developed by an Indian IT-start up. The ring-shaped transmitter called Fin is worn on the thumb and uses Bluetooth to communicate with different devices. The portable device enables users to control up to three devices such as smartphones, car radios and smart TVs using only swipes and taps, &lsquo;Mashable&rsquo; reported. Until now, the device has five pre-programmed gestures. However, users will be able to create customised programmes on an app that will come with the device, in its final iteration. The device can control the volume on a TV, and even lets users text or dial a number without touching their phone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Facebook&rsquo;s New App &lsquo;Paper&rsquo; Aims to Provide Personalized News</strong></span></div>
<div>
	Facebook stepped more directly onto the news media&rsquo;s turf, rolling out a new iPhone app called Paper that enlists a handful of human editors to supplement its computers in recommending articles and blog posts on a dozen topics, including top news, food, parenting, the environment and gay rights. The app, which made its debut to rave reviews from tech news sites, offers users an easy way to browse their news feeds. But it also presents them with a series of minimagazines, each with a distinct tone and articles chosen by unidentified curators the company says have extensive expertise in their fields.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsung to Unveil Latest Galaxy S Smartphone in Late February</strong></span></div>
<div>
	Samsung Electronics Co will unveil a new version of its flagship Galaxy S smartphone this month, but expectations are low that features such as a bigger screen will lead to a sharp jump in sales given intensifying competition. Samsung sent out invitations on Tuesday for &ldquo;Samsung unPacked 5&rdquo; event on Feb. 24 at the Mobile World Congress in Barcelona. The S5 is widely expected to feature a bigger screen, an improved rear camera and biometric functions such as iris recognition or a fingerprint scanner. It may also come with an improved Galaxy Gear smartwatch.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The video-sharing website YouTube said it has started to “audit” the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like “redirects” or “buying” views to boost their count. YouTube said it will now “periodically” validate the views on videos and remove the fraudulent ones from the total.',
			'sortorder' => '2423',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '2577',
			'article_category_id' => '100',
			'title' => 'Tourism Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tibet Sees Record Tourist Numbers In 2013</strong></span></div>
<div>
	<img alt="Tibet" src="/userfiles/images/t4%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 109px;" />Tibet saw a record number of visitor arrivals in 2013, as Chinese visitors flocked to the region. According to the latest data from the Tibet Tourism Bureau, reported by Xinhua, a total of 12.91 million people travelled to Tibet last year, marking year-on-year growth of 22%. &nbsp;This total only included 223,000 international visitors however, or just 1.7% of total arrivals. The number of international arrivals to Tibet increased 15%. The region&rsquo;s tourism revenues also saw strong growth in 2013, rising 31% to CNY16.5 billion (US$2.7bn). According to authorities, Buddhist sites including the Potala Palace, Jokhang Temple and Zhaxi Lhunbo Monastery were the most popular tourist attractions last year, although no official visitor figures were provided for these sites. The regional tourism bureau said it expects visitor numbers to increase to 15m per year by 2015. International visitors still need to obtain an official travel permit prior to visiting Tibet. (Traveldailymedia.com)</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Conrad Hotels to Debut In India</strong></span></div>
<div>
	<img alt="Conrad Hotels to Debut In India" src="/userfiles/images/t5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 104px;" />Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels &amp; Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra. In doing so, it will become the first ever Conrad hotel in India and marks the arrival of Hilton&rsquo;s fifth brand in the country, following Hilton Hotels &amp; Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton. Conrad Pune will be set in a modern skyscraper on Mangaldas Road, in Pune&rsquo;s central business district. Designed in an art deco style, the hotel will feature 310 rooms, six F&amp;B outlets, an outdoor swimming pool, fitness centre and spa. It will also offer extensive conference and banqueting space, with a large ballroom, break-out room, pre-function area, four boardrooms and a 24-hour business centre. Conrad Pune will become Hilton&rsquo;s 12th property in India and its second in Pune, following the DoubleTree by Hilton Pune-Chinchwad. (Traveldailymedia.com)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tripadvisor Redesigns Flights For Airlines Globally &nbsp;</strong></span></div>
<div>
	<img alt="Tripadvisor Redesigns Flights For Airlines Globally  " src="/userfiles/images/t6%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 74px;" />TripAdvisor announced a redesign of its Flights search product &ndash; the first to feature comprehensive in-flight insights, amenities information and candid traveller photos coupled with the ability to scan for the lowest prices for airlines globally. In addition to helping travellers find the lowest fares, TripAdvisor Flights now combines a number of new benefits. It includes details on the in-flight experience as Travellers using TripAdvisor Flights will now know exactly what in-flight amenities can be anticipated before they book, including WiFi, power ports and in-flight entertainment. TripAdvisor also reveals available legroom (tight, average, spacious), so travellers can find the most comfortable seat. The product also provides traveller insights on seat type and pitch, as well as thousands of candid traveller photos from SeatGuru of airline seats and cabins and seat maps, giving flight shoppers an inside peek at the aircraft before they book. The results display now clearly identifies thousands of aircraft equipped with extra legroom seats. TripAdvisor also continues to offer its award-winning Fees Estimator that dynamically calculates the cost of baggage and other amenities into the live display, so that travellers are not surprised at the gate. (Traveldailynews.com)</div>',
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			'description' => 'Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels & Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra.',
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			'id' => '2587',
			'article_category_id' => '42',
			'title' => 'Compliance And Operational Risks In Mutual Funds',
			'sub_title' => '',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Sushil Maharjan</strong></div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s only stock exchange, the Nepal Stock Exchange (NEPSE), has been thriving and attracting capital market investors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Securities Board of Nepal (SEBON) received approval from the Nepali government under the Securities Act, 2007 to establish Mutual Fund Regulations, 2010 as well as the power to issue licences for mutual funds to be sold in Nepal. &nbsp;In 2010, the first two mutual fund companies were licenced by SEBON and more are in the pipeline. &nbsp;Nepal&rsquo;s first mutual funds have since become well-established businesses that have successfully launched other mutual fund schemes. &nbsp;In this brief period, SEBON has made new provisions to open secondary markets for non-resident Nepalis by making necessary amendments to Mutual Fund Regulations, 2010. &nbsp;I strongly believe, in the next five to ten years, there will be more diversity in the Nepalis capital market as the mutual fund industry continues to mature.</div>
<div>
	&nbsp;</div>
<div>
	We have seen the NEPSE reach a historical low of approximately 375 points back in 2006, and a high of approximately 1180 points in 2008, only for the index to reach an all-time low of approximately 292 points back in 2011. Although the NEPSE has had its share of bear and bull markets, however the index is on the brink of surpassing its highest point for 2013. &nbsp;Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets. &nbsp;Thus, the portfolio net asset&nbsp;</div>
<div>
	value affects mutual fund unit prices on a daily basis.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NAV of a mutual fund is derived from the value of the underlying securities held in the fund&rsquo;s portfolio, which is equal to the mutual fund&rsquo;s assets, less all of its liabilities. &nbsp;Many mutual funds use this number to determine the trading price for units of the fund. When investors buy and sell mutual funds, firms typically do so at the NAV; there is no secondary market in mutual fund units as the fund itself issues and redeems them.</div>
<div>
	&nbsp;</div>
<div>
	We know confident Nepali investors are a big boost to the capital market, though increased trading volume doesn&rsquo;t necessarily indicate that there is growing interest in the stock market; this may be because of reasons such as the improving political stability of Nepal, regulatory changes or available investment opportunities. &nbsp;Value investors see how well companies or stocks are performing within their mutual fund portfolios and measure the performance and returns of all funds across all mutual fund asset classes as well as of market indices.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this changing and high-paced investment world, there are reasons to be concerned about mutual fund companies&rsquo; failure to adopt fair value pricing, which would help to avoid losses due to market timers and to manage emerging risk and market trends. &nbsp;Compliance plays a very big role in capital markets and investments, especially with Nepal&rsquo;s new mutual funds. &nbsp;Compliance is the strict following of a requirement, such as specific regulations, policies, standards or laws. &nbsp;The goal of regulatory compliance is to ensure that corporations or public agencies are made fully aware of relevant laws and regulations and take the necessary steps to follow them; this is vital in for Nepal&rsquo;s capital market and mutual industry to thrive. &nbsp;An increasing number of regulations and need for operational transparency will require that institutions that offer mutual funds adopt and consolidate their compliance controls, as this will ensure that all the necessary governance requirements can be met without duplication or inefficiency. &nbsp;Mutual fund trade processing, recordkeeping, and transaction flows strengthen mutual fund oversight programs and operations. We know that compliance rules have the potential to improve mutual fund company operations and that the independence of the compliance function is key to preventing violations and/or abuses of securities laws, regulations and mutual fund policies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One has to be very conscious of the various risk types associated with mutual funds. &nbsp;Operational risk cannot be overlooked; this arises from the individual systems and processes through which Nepal&rsquo;s mutual fund companies operate. &nbsp;Operational risk is stated in the Basel II regulations as the risk of loss resulting from inadequate or failed internal processes, people and systems or from any external events. &nbsp;As an investor, one must recognize that the people, processes and systems of any given company are imperfect, and that losses can occur due to errors and ineffective operations. &nbsp;Generally speaking, the volume of global financial transactions, combined with solid compliance reduces operational risk. &nbsp;However, I want to focus on mutual fund valuation risk and trading abuse. &nbsp;We know that assets can be overvalued or worth less than expected whenever they mature or are sold before then by brokers or dealers. &nbsp;Initiating institutions, brokers, custodian banks, fund administrators, transfer agents and auditors currently share their information electronically and their processes are already automated, thus raising the potential risks with respect to data management and valuations. &nbsp;As valuation risk affects transactions processing, front and back office operations, distribution, investment management as well as the private wealth and advisory services areas of mutual fund firms, I strongly believe that straightforward processes and trading strategies, dating and valuation techniques must be consistent throughout the trade processing cycle. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><img alt="Stock Taking" src="/userfiles/images/st1%20(Copy).jpg" style="width: 550px; height: 597px; margin-left: 10px; margin-right: 10px;" /></strong></div>
<div>
	&nbsp;</div>
<div>
	From a mutual fund trade processing and recordkeeping standpoint, investors generally purchase, transfer in (or out), or sell fund units through multiple channels - either directly from the fund companies, or through various intermediaries, such as broker-dealers, financial advisors, banks and insurance companies. &nbsp;Settlement risk occurs when the counterparty does not deliver a mutual fund&rsquo;s value in cash as per its trading agreement with the other party upon the execution of trade instructions. &nbsp;This is particularly true for assets that have low liquidity and are not easily tradable in public exchanges. Moreover, issues associated with valuation risks go beyond the firm itself. Mitigating risks as much as possible will provide transparency and ensure the integrity and consistency of the data, models and processes used in making and reporting calculations in the valuation of mutual funds.</div>
<div>
	&nbsp;</div>
<div>
	<em><span style="font-size: 11px;">(Maharjan has extensive financial services industry experience and is currently with CIBC Mellon, Canada&rsquo;s Leader in Asset Servicing, jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon. &nbsp;This is not an official publication of CIBC Mellon. The views expressed are those of the author and are not necessarily those of CIBC Mellon or New Business Age.)</span></em></div>
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			'description' => 'Capital markets affect portfolios of mutual fund holdings, as the (net asset) values of these portfolios increase and decrease according to the direction of capital markets.',
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			'title' => 'Kathmandu On Wheels',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rashika Pokharel</strong></div>
<div>
	&nbsp;</div>
<div>
	When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars. Whether it is to go to work or back to home after that, family trip, romantic drives, emergencies or weekend leave, reply is car. What initially started as a luxury has now, transformed into basic necessity. Even without comprising a personal car, people are always using vehicles in one way or the other. People have become more and more reliant on vehicle. The car has become a symbol of the modern urban setting with more and more people buying cars.</div>
<div>
	&nbsp;</div>
<div>
	Automobile market in Nepal is gaining momentum as the cars are gaining more popularity among many Nepalis. They are getting more attracted towards cars either as luxury or as their need. &nbsp;Previously, buying a car was beyond the budget of normal Nepali families. However, today the scenario is different. &nbsp;The roads filled with new cars in the town illustrate that Nepalis desire more cars. &nbsp;One of the key reasons behind their increasing desire can be loan facilities offered by many banks which make convenient for the average Nepali to afford new cars. While buying a new car only 20 to 30 percent down payment is required while rest of the money can be paid on monthly installment basis. Moreover, the demand of imported cars is on the rise despite the customs of 240 percent. Although the fuel price is routinelyrising, this has not created a negative impact for both the car buyers as well as the car seller. Another factor which has been encouraging the people to buy cars is the road expansion activities.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pooja International" src="/userfiles/images/tr1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Fuel versus cost efficient cars</strong></span></div>
<div>
	&nbsp;Cozy and fuel efficient cars are demanded by the customers. The customers usually go for those cars whose maintenance cost is low. &nbsp;Nepali customers prefer buying petrol cars as they have much more advantages over diesel cars. The advantages of a petrol car are that petrol engines do not create noise when being driven, maintenance of a petrol engine car is less and have a higher acceleration.&ldquo;Most of our customers buy cars for private use and they are mainly the short distanced drivers. People normally drive 15 to 20 Kms everyday. Therefore, petrol cars are really efficient and good option for that, says, Sajan Maharjan, Sales Manager at GO Ford. He further adds that diesel cars are less in demand in Nepal adding that only car rental companies use diesel cars.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Customers&rsquo; Preference</strong></span></div>
<div>
	&ldquo;The sales of smaller and spacious cars is gaining much popularity among the customers as the streets of Kathmandu are narrow, smaller cars are convenient to park and easier to drive in narrow roads&rdquo;, says Maharjan. Smaller cars are selected by the customers as they are cheaper than other SUV (Sport Utility Vehicle) or Sedan Cars. The price of smaller platform cars starts from Rs15.5 million. In Nepal, the sales of small cars like Eon, Santro, Swift, i10, i20, Grand i10, Alto are high as these are suitable cars for family and offer comfort along with some smart features. One of the causes behind their high preference is that they are Indian cars and due to this their maintenance cost becomes easy and the spare parts are easily available. &nbsp;&ldquo;While buying car the things which customers search for is that whether the car offers updated feature or not, how much fuel efficient it is, itsresale value, looks, good quality and cheap price&rdquo;, says, Dipesh Man Shakya, Deputy Manager at Laxmi Inter Continental &nbsp;Pvt.Ltd.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Street Problems</strong></span></div>
<div>
	&nbsp;Driving a luxurious car is a tough challenge as streets of Kathmandu are battered and full of pot holes. Similarly, the problem of traffic congestion does not allow smooth driving of vehicle.Therefore, in this context choosing smaller platform cars are, lot more advantageous as they have particularly high level of ground clearance which will have less contact with the road and provide a comfortable drive. Smaller cars are also more fuel efficient as they give high mileage compared to other luxurious cars.</div>
<div>
	&nbsp;</div>
<div>
	A high maintenance cost is required for the costly luxurious car as their parts and accessories are comparatively more costly than the simple smaller cars. Even fixing a small dent or a scratch in luxurious vehicles would simply mean to pour out more money. Although the main roads of Kathmandu have been expanded and still in process, the sub roads and inner streets are still smaller and this is just ideal for the smaller cars.</div>
<div>
	&nbsp;</div>
<div>
	It is also said that more CC engine in a car leads to more fuel consumption. Smaller and cheaper cars come with a less CC engine as compared to the other luxurious cars like SUVs. The smaller and cheaper cars like Maruti comes with an 800 CC engine, Santro comes with a 1000 CC engine, Hyundai i10 comes with an 1100 CC engine and Hyundai i20 Comes with a 1200 CC engine. This fact regarding the car&rsquo;s engine CC also plays an eminent role in fuel consumption and indicates the variation in its fuel mileage.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Car Selection</strong></span></div>
<div>
	People specifically in Kathmandu opt for these smaller cars which will offer good mileage with great built-in features. These features include safety features like inbuilt security alarm, air bag safety system, power steering system for a smoother vehicular control to an overall entertainment features like great powerful music speakers with a built-in Bluetooth system attached within the steering wheel itself. This even shows that in today&rsquo;s context smaller car industries are being more competitive in terms of providing their customers with the best detailed features in their car and available at an affordable price budget.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Kathmandu On Wheels" src="/userfiles/images/tr2.jpg" style="width: 550px; height: 192px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
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			'description' => 'When we think about cars, they remind us of luxury. But in the present context, car has become one of the basic necessities of people rather than being a luxurious item. Most people require car for their comfort as well as to get their work done quickly. Presently, one can find it tough to complete any work without their cars.',
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			'title' => 'When Bulls Run To Bush',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table. The Nepali bourse has often behaved beyond any rational expectations and market analysis. There was no reason for it to fall as low as below 300 in 2011 and even at present the speedy bull run is not fully justifiable. The index has climbed about 50 percent from 529 points in mid-July 2013 and to 780 mark on third week of January 2014.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepal Stock Exchange Index" src="/userfiles/images/editor1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 154px;" />Interestingly, this rise is witnessed when trading of stocks of a number of new companies, mainly the new commercial banks, began. The situation apparently is of over-supply and there has not been any substantial change in economic fundamentals to push the Index up, except the fact that last CA elections saw the defeat of hard-line communist forces, like Maoists. If the investment were to be made for returns, this political change alone would not perhaps be enough to ensure higher&nbsp;</div>
<div>
	yield. But, investors do not seem to be bothered by this.</div>
<div>
	&nbsp;</div>
<div>
	To some extent, the volatility of the market by its nature is understandable, but the reason d&rsquo;&ecirc;tre of this, generally, is however never beyond comprehension. At least, it should not have been the case given the availability of modern-technology assisted analysis, both fundamental and technical. But that is what exactly happening in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	When markets run amok, bullish or bearish, without any convincing economic explanation, there is no reason to be happy. Nepal&rsquo;s capital markets have some basic characters that make it very risky. It is not only unintegrated to the international market, but also lacks even a few traders who would trade in Nepse and some other international exchange, simultaneously. Therefore, the impact of international market in Nepali secondary market can be completely ruled out. The real sector, for all practical purposes, has no presence in the capital market and it is dominated by the financial service providers, a few hotels and lately some hydropower companies. This means, our capital market trends do not necessarily reflect the degree of fitness of our economy. And, except for some time-trained crooks, there are very few informed or educated investors, causing mismatch between the expectations and returns.</div>
<div>
	&nbsp;</div>
<div>
	The regulator is equally novice and naive. Political appointments of the people to the Stock Exchange Board who lack specific knowledge about the trade have made the situation worse. The most dangerous part is that, no public agency is even contemplating about the possibilities and procedures of listing more real sector, mainly manufacturing, companies into secondary market. It is indeed an uphill task since it requires much higher level of willingness of the private sector to register in the bourse. It in turn requires transparency at every step of the transaction of the companies from, imports, customs evaluation, VAT and excise, sales, and ultimate balance sheet and auditing. Nobody seems prepared for this mammoth task that has not only economic cost but also demands a high degree of business integrity and honesty.</div>
<div>
	&nbsp;</div>
<div>
	But, without bringing the real sectored on the trading screen, the rationale of the secondary market could hardly be justified. The result, it will continue to be victim of irrational volatility. The new government that will be formed soon should take three major steps: first appoint knowledgeable persons of the sector in the regulatory board, second create a joint platform of Nepal Rastra Bank, the Board, Ministry of Finance and the private sector to promote financial education about the secondary market and begin brain storming to identify the causes that are hindering real sector to enlist in Nepse and resolve them. Only this will create a credible stock market in Nepal.</div>
<div>
	&nbsp;</div>',
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			'description' => 'The index of Nepal Stock Exchange, Nepse, climbed to 800 after five years early January 2014. Since it closed at 963.36 in mid-July (end of the Nepali fiscal year) 2008, it had barely crossed 500 until last June. It had terribly disappointing bearish tumble for all five consecutive years as shown in the side table.',
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			'id' => '2586',
			'article_category_id' => '46',
			'title' => '“We Are On The Lead Position In SAARC Region”',
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	&nbsp;</div>
<div>
	<span style="font-size:16px;">Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year. The government recently picked <strong>Anoop Ranjan Bhattarai</strong>, who was previously serving as Director at the company&rsquo;s Wireless Telephone Directorate, to lead the company. Bhattarai is regarded as one of the few smart techies in Nepal with considerable knowledge of technological aspect of the telecom industry. Soon after he assumed the new position, he spoke to <strong>Siromani Dhungana</strong> of New Business Age about his plans for leading the company.<strong> Excerpt:&nbsp;</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What does your appointment as MD of NTC promises to its consumers and stakeholders?&nbsp;</strong></span></div>
<div>
	My appointment as the Managing Director is a breakthrough to a 3-month-long deadlock in finalizing the organizational leadership. This appointment is the change for betterment; betterment for the organization, betterment for the staffs working here, and most importantly betterment for all our stakeholders. My tenure as MD of the organization will concentrate in providing world class advanced and consumer friendly telecom services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Some officials and even trade union representatives often talk about making reforms in the company. What areas are you planning to reform?&nbsp;</strong></span></div>
<div>
	My key areas for reform will center on improving company&rsquo;s work culture, increasing its efficiency, ensuring timely execution of projects and improving service delivery. If we pay appropriate attention to these sectors, our performance will improve and thereby enable use to remain competent in the free market economy.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Quality of service has often been controversial when we talk about Nepal Telecom. Even the regulator blames NT for flouting quality indicators. You are perceived as a person with guts to reform the company. How is your appointment going to change anything that Nepali consumers can feel the benefit?</strong></span></div>
<div>
	Of course, the quality of service in urban areas is going to be improved and these changes can be perceived within one month. After upgrading networks in urban areas, we will focus on improving quality of services in the rural areas. I assure our customers across the country that in a few months time there will be visible improvements in the quality of our services.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Do you think you will be able to overcome political hurdles that might be obstructing the performance of Nepal Telecom?</strong></span></div>
<div>
	As a government owned company, all stakeholders including the political system, definitely wants to see it growing and increasing its contribution to national development. &nbsp;I do not think there will be any political hurdles that will obstruct growth of the company. All we have to do is ensure that all initiatives are conducted in transparent and reliable manner.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you tackle problems created by Public Procurement Act?</strong></span></div>
<div>
	At present, NT has to follow Public Procurement Act. Consultation process is going on with the Public Procurement Monitoring Office (PPMO) so as to refine or redefine the directive. I am confident that the ongoing as well as additional consultation processes will help NT move forward more efficiently.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>News reports during last year claimed that NT provides unnecessary perks and facilities to officials at the Ministry of Information and Communication. What will you do to this end?</strong></span></div>
<div>
	I am not aware of such services being offered to the ministry or its officials. And the ministry has also not requested for the same from the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Successive leadership at NT has been failing to materialize the plan of bringing strategic partner to increase competency of the company. Can we expect anything tangible from you?</strong></span></div>
<div>
	The process for introducing strategic partner is gaining momentum. Within few weeks, NT will initiate the process. I am hopeful fresh initiatives will be successful in bringing strategic partner in the company.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>How do you see the challenges from private operators at the moment? Will you bring specific plans to cope with those challenges?</strong></span></div>
<div>
	We offer diverse service and have a dominant presence throughout the nation. Our competitors are lagging far behind compared to us, in general. However, we have experienced competition in certain business aspects of telecommunication services. This has opened up new opportunities for NT to grow from within. We should accept challenges and take it as an opportunity to do even better in the future.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What new services can we expect from you?</strong></span></div>
<div>
	We have seen a huge demand for reliable and affordable data service in coming days. So we are mainly focusing on the same. In this fiscal year we will launch WiFi and FTTH (Fiber to the Home) services. Our expert team is also exploring the areas of service expansion. Naturally all our existing as well as prospective consumers demand reliable, diversified and advanced services from Nepal Telecom and as a service provider we are all working and focusing more on the same to make tangible improvement in the options and quality we offer. We also have plan to introduce new services like WiFi, countrywide 3G services through GSM and CDMA technologies and also have plans to provide our own Social Networking Service very soon.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What do you think the major challenges for the company are?</strong></span></div>
<div>
	Our major challenges, as of now, are:</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Bridge the digital divide</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Modernizing customer service&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Proceedings to introduce an international strategic partner</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Boost employees&rsquo; morale and improve work culture</div>
<div>
	These are some major challenges. The list may go even longer. We have to come out with appropriate solution for all challenges. I will put my effort to overcome these challenges during my tenure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Till the mid-80s, Nepal was considered as a country having the best telecom services in the region. What happened since then?</strong></span></div>
<div>
	NT has already launched 4G WIMAX service. We were the first to launch 3G services in the SAARC region. So technically speaking, we are still in leading position within the region and we will not let our achievements to go down.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>You have also expertise in modern technology. Please share your experience and plan to expand new technology including LTE?</strong></span></div>
<div>
	We have applied for frequency spectrum for LTE and once we get it, we will start deploying LTE in all major cities. Within 2015, we aim to provide LTE services throughout the nation.</div>',
			'published' => true,
			'created' => '2014-02-13',
			'modified' => '2014-02-18',
			'keywords' => 'new business age  interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal,  current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events,  ongoing  interview news of nepal',
			'description' => 'Government-run Nepal Telecom topped the list of largest taxpayers, in terms of both income and value added taxes, in the fiscal year 2011-12. The partially privatized and Nepse-listed telecom service provider contributed some Rs 9 billion to the government coffer that year.',
			'sortorder' => '2433',
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	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2564',
			'article_category_id' => '109',
			'title' => 'Nepse Recovers Due To Buying Pressure',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country&#39;s capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Analysts say it is a natural recovery as the index was in decreasing trend during the last two weeks. They claim that though most listed companies have declared and distributed cash dividends and bonus shares, many investors are still shying away to invest to their full capacity even at current lower prices. &quot;Once they got the preferred stocks at the lower price, it is obvious to increase the demand for them which in turn boost up the index&rdquo;, said an analyst.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The recovery of stock market seems to have contributed by double-digit growth of hydropower, insurance and development bank sub-indices. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	For the week, shares worth Rs 121.12 billion totalling 3.34 million units were traded in the stock market through 13148 transactions. Compared to the previous week, the turnover, number of transactions and unit of shares traded increased this week. This indicates that the selling pressure is reducing and the buying pressure is building up. Last week, Nepse index logged highest level of 785.78 points and lowest level of 769.51 points.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hydropower sub-index gained its position as the biggest gainer with 82.3 points for the week. Similarly, Insurance was the second in the line, which rose 59.53 points followed by Development Bank (16.62 points) and Finance (8.04 points). Similarly, trading sub-index increased by 5.92 points for the week while Manufacturing and Processing&#39;s sub-index remained unchanged throughout the week. The Hotels sub-index continued its losing streak as it was the biggest weekly loser with 7.01 points followed by Banking (1.9 points) and &#39;Others&#39; (1.18 points). Meanwhile, the Sensitive Index representing the share trading of blue chip stocks belonging to class &#39;A&#39; listed companies increased 0.36 points during the week. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/index1%20(Copy).jpg" style="width: 550px; height: 368px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'In an apparent sign of recovery of last two weeks loss, Nepal stock Exchange Limited (Nepse) index had increased 4.32 points during the week from February 02 to 06. The benchmark index of country's capital market which was at 781.46 points on the last Thursday settled at 785.78 points on the last trading day (Thursday) of this week.',
			'sortorder' => '2432',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2551',
			'article_category_id' => '137',
			'title' => 'Nepal Among The Weakest  In Securing Property Rights',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The index comprises of three key sub-indexes: Legal and Political Environment, Physical Property Rights and Intellectual Property Rights. The overall grading scale of the IPRI ranges from 0 to 10, where 10 indicates the highest value for a property rights system and 0 the lowest value within a country. Similarly, Nepal also fell among the weakest in securing intellectual property rights. With a score of 4.2 points, Nepal ranks 95 in intellectual property rights sub-index. It also fared poorly in terms of protecting intellectual property rights, patent protection and copyright protection.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Likewise, Nepal ranked 113 in legal and political environment sub-indexwith a meagre score of 3.3 points. &nbsp;The country&rsquo;s performance in judicial independence, rule of law, political stability, and control of corruption were also seen below par in the index, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Nepal performed better in physical property rights sub-index where it scored 6.0 points and ranked 68. In terms of protecting physical property rights the country scored a mediocre 5.0 points. Meanwhile the country performed strongly in registration of physical properties with a score of 9.5 points and achieving 6thspot among 130 countries in the index.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The IPRI 2013 has placed Nepal&rsquo;s southern and northern neighbours - India and China- on 57th position in the index. Sri Lanka, Pakistan and Bangladesh ranked 76, 118 and 126 respectively. According to the report, Singapore is the highest-ranking Asian country (rank-7, score-8.1 points). &nbsp;Finland, Sweden, New Zealand, Norway, Netherlands and Switzerland dominated the top-five spots whereas, Bangladesh, Libya, Venezuela, Burundi and Haiti were the bottom-five countries in IPRI 2013.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is among the weakest countries in terms of securing property rights, a latest global report shows. According to the International Property Rights Index (IPRI) 2013, published by Washington, DC-based Property Rights Alliance (PRA), Nepal ranked101 among 130 countries in the overall index. Nepal stood at the bottom in Asia region,where the country ranked 15 among 18 Asian countries.',
			'sortorder' => '2431',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2505',
			'article_category_id' => '138',
			'title' => 'Unemployment On The Rise In South Asia: ILO',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the &lsquo;Global Employment Trends 2014&rsquo; report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region&rsquo;s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018. The report pointed out to the slowdown in Indian economy as the major contributing factor for joblessness rise in the region. &nbsp;&ldquo;The current slowdown in India has been propelled by poor perfor mance in the manufacturing sector and low levels of investment. Both of these dimensions are major barriers for South Asian countries in their pursuit of higher and more sustainable rates of growth &ndash; growth that also leads to job creation in the formal economy,&rdquo; it said. According to ILO, South Asia is facing a number of macroeconomic challenges and imbalances including higher inflation, change in investor sentiment and widening fiscal deficits among the countries in the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the report said that the unemployment rate is not the best indicator of distress in South Asian labour markets, given the high prevalence of informal employment and working poverty. ILO indicated to the lower number of job creation in industrial sector as one of the major problem of the region&rsquo;s labour market. &ldquo;In South Asia, labour markets continued to suffer from high rates of informal/agricultural employment where jobs are poorly paid and unprotected,&rdquo; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to ILO estimates Nepal&rsquo;s unemployment rate is projected to rise to 2.77 per cent in 2014 and 2.72 in 2015from 2.69 per cent in 2013. India, the region&rsquo;s giant is likely to witness a 3.77 per cent increase in its jobless rate in 2014 from 3.69 per cent estimated for 2013. Similarly, the unemployment rate in Sri Lanka that stood at 4.2 per cent in 2013 is projected to rise to 4.4 per cent in 2014.Likewise, Pakistan would see unemployment rate rising to 5.29 per cent in 2014 from 5.17 per cent in 2013. Meanwhile, jobless rate in Bangladeshis estimated to fall to 4.2 per cent in 2014 from 4.3 per cent in 2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Leads in Female Labour Force Participation</strong></span></div>
<div>
	Nepal is leading the South Asian workforce market in terms of female labour force participation. According to the ILO, out of 100, 80 Nepali women are participating in labour force, which is much higher than neighbouring countries. &nbsp;The report informed that the participation rate of women in the labour force is below 40 per cent in all countries in the region except in the Maldives and Nepal.&rdquo;The female labour force participation rate in South Asia ranges from just 21 per cent in Afghan&not;istan to 79.4 per cent in Nepal,&rdquo; it said. ILO, however, noted to the fact that engagement of Nepali women in agriculture as more a result of poverty than choice. In comparison, the participation rate for men in South Asia varies far less, ranging from 75 per cent in Sri Lanka and the Maldives to 82.7 per cent in India, according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Unemployment Number Exceeds 200 mn in 2013</strong></span></div>
<div>
	ILO presented a bleak outlook of global labour market as the total number of jobless people across the world reached 202 million in 2013 amid the weak employment opportunities triggered by slower economic recovery. &ldquo;The bulk of the increase in global unemployment is in the East Asia and South Asia regions, which together represent more than 45 per cent of additional job seekers, followed by sub-Saharan Africa and Europe,&rdquo; ILO said. Based on the current trends, ILO said &ldquo;global unemployment is set to worsen further, albeit gradually, reaching more than 215 million job seekers by 2018.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-02-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'South Asia along with other developing regions across the world is set to face rise in unemployment rate, says a new report. According to the ‘Global Employment Trends 2014’ report published by the International Labour Organisation (ILO), unemployment rate in South Asia will edge up to 4 per cent in 2013 from 3.9 per cent in 2012. The United Nations agency forecasts the region’s jobless rate to climb to 4.1 per cent in 2015 which will remain the same till 2018.',
			'sortorder' => '2430',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2583',
			'article_category_id' => '40',
			'title' => 'New Nepal Government Setting The Economic Agenda',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By NBA Team</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepali economy counts on post-election confidence. With the elections for the Constituent Assembly (CA) and the legislature parliament just concluded, general public and business leaders want one thing for certain &ndash; political stability and economic prosperity.</div>
<div>
	&nbsp;</div>
<div>
	Nepali business and consumers have been on a decade-long roller-coaster ride of unstable government with changes in leadership, epic legislative struggles and policy reversals culminating in what has amounted to a mess.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Now there are rays of hopes. The return of political stability is expected everywhere. Business community is upbeat by the successful second CA election. As the liberal forces are going to take the helm of the government, all are waiting for a decisive outcome that can provide real relief to people. And, it is the business community which has been waiting for a favourable situation for their business and investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Decoding the Election Result</strong></span></div>
<div>
	People expressed their aspirations and exercised their power during this election to set the progressive course for issues that matter them the most. Interestingly, people filtered those parties who often take to the street to fulfill their demands but fail to deliver when they lead the government.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The victory of Nepali Congress in the urban areas clearly indicates that urban voters favour liberal economy. Similarly, the fact that majority of votes were secured by Nepali Congress reflects people&rsquo;s will to be led by a political party which is in favour of social harmony and cohesion.</div>
<div>
	&nbsp;</div>
<div>
	Needless to say that the business community was terrorized due to the hotpotch federal agenda put forth by UCPN (Maoist) and other ultra-leftist groups in a belligent manner. The recent poll results might have relieved the entire business community.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Business goes beyond the ethnicity. An entrepreneur from Madhesh has to do business in the hilly region and vice versa,&rdquo; says former finance secretary Rameshore Khanal. &ldquo;Political parties now should raise the issue of &lsquo;economic nationalism&rsquo; instead of creating tensions among various castes and classes,&rdquo; he remarks. In his words, policy stability and policy consistency is more important than caste and regional issues for development and prosperity.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Long Journey&nbsp;</strong></span></div>
<div>
	Nepal became the 147th member of the World Trade Organization (WTO) in 2004. It is now over two decades since the government adopted liberalization and a development model based on private enterprise and foreign investment, with the market forces as a major driver of the economy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Yet, the government&rsquo;s initiatives for strengthening the private sector have been illusive over the last decade. With over decade-long experience, it is perhaps time to evaluate the advantages Nepal took from the WTO membership and way forward to get maximum advantages as a WTO member.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is now time to seriously revisit the deep trade deficit Nepal has continued to run, says Bhawani Rana, vice president of FNCCI, one of the private sector umbrella organizations. The new government needs to make an overview of our foreign investment trends and identify policy bottlenecks, she emphasizes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>We Can, If We Want</strong></span></div>
<div>
	In the early 1990s, the entire business environment was affected due to the people&rsquo;s movement. Democracy was recently restored. The country was in a state of euphoria as all had much expectation from the new democratic government. But the country&rsquo;s economic situation was not good as the overall economic indicators were in the red. Foreign reserve was depleted. In such a situation, Nepali Congress formed the government and was successful to bring economy back on track.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	That was thanks to the fact that one of the proponents of free market economy, Dr Ram Sharan Mahat took charge of the finance ministry. Though opponents blamed him for favouring economic giants, he despite criticism firmly advocated free market economy and that has proved to be the right decision. The country achieved a record high growth of 8.60 percent in the GDP in 1994.</div>
<div>
	&nbsp;</div>
<div>
	The situation after the 2013 election could hardly differ, hope the businessman and ordinary people. The situation is similar and so are the people&rsquo;s expectations. The early 1990s have proved that the economy can revive if the political leadership is committed for that, says economist Dr Jagadish Chandra Pokharel. A revival in confidence is sorely needed if the country is to deal with the slowdown in economic growth, he adds. The new government should facilitate the business environment. Stable policies and investment friendly mechanism help to make a recovery in business confidence, according to him. But, as NC this time is most likely to form the government with CPN-UML as almost equal partner, doubts are high wether the post-1990 miracle can be repeated. When CPN-UML came to power replacing NC during post-1990 period, it had reversed some crucial policies adopted by NC.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Fear Side</strong></span></div>
<div>
	Moreover, the country&rsquo;s economic sector is not completely terror-free. The Baidya-led ultra-left communist party may create troubles for the sake of making its presence feel. Given Nepal&rsquo;s immediate past, communal and caste issues may resonate strongly in the country&rsquo;s psyche, across the wide-ranging social and economic strata. Understandably, left-extremism (including UCPN-Maoist) may try to create trouble given the humiliating loss experienced by them in the latest polls. Though their presence has significantly reduced in the national politics, left-extremism may try to fuel labour issues to create trouble in the industrial relations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Economists, however, argue that the economy and its development, and distribution of benefits, are at least as important as the emotional issue about communities, castes and class politics.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;It&rsquo;s clear that uncertainty over policy regime and regulations has been a hindrance to foster investment climate in the country,&rdquo; says businessman Pashupati Murarka.</div>
<div>
	&nbsp;</div>
<div>
	The only way out from the existing chaotic situation is to create more and more jobs in the country, Murarka reiterates. The country cannot get rid of political instability until the youths are left jobless, he claims.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Silver Lining&nbsp;</strong></span></div>
<div>
	What are the elements that shape the country&rsquo;s transition from volatile politics to stable democracy? All too often, policy analysts focus on the political process, while neglecting the vital role of economic reform in determining democratic success&nbsp;</div>
<div>
	or failure.</div>
<div>
	&nbsp;</div>
<div>
	In the last decade, high unemployment and lack of entrepreneurial opportunities posed serious challenges to Nepal&rsquo;s transition. On the other hand, the country faced growing unresolved grievances caused by issues such as misappropriation of private property, rampant corruption and widening inequality.</div>
<div>
	&nbsp;</div>
<div>
	Yet, there is silver lining. Despite a decade-long political turmoil and armed conflict, the country&rsquo;s economy was good enough to maintain its basic economic indicators in the positive direction. It is for sure that the country will go through a long and complex journey before the current political transition will settle to form a stable democracy.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The country&rsquo;s micro as well as macroeconomic indicators are positive. &ldquo;We have sufficient foreign currency reserves,&rdquo; says joint secretary at the finance ministry Madhu Kumar Marasini. He underlines the need for utilizing the remittance inflow in the productive sector. &ldquo;All we need is proper management of our own resources to open new avenues of development,&rdquo; he opines.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Despite political instability, Nepal has witnessed a noticeable growth in all sectors during the last decade. And, it is sure that the country can improve its economic indicators if we get visionary leadership, claims former finance secretary Rameshore Khanal.</div>
<div>
	&nbsp;</div>
<div>
	Nepal has made significant progress in various sectors including health, education, drinking water and telecommunication which clearly shows that the country&rsquo;s economy is ready to take off and all it needs is a runway to move on.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>The Issue of New Constitution&nbsp;</strong></span></div>
<div>
	Drafting the new constitution is going to be an uphill task. There are many differences among political parties. But, the country cannot bear perennial transition. It is the need of the hour to fulfill the aspirations and dreams of the people in a positive manner.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Underdevelopment creates multiple problems. It fuels the frustration and pessimism among people which is not good for country&rsquo;s economic health. And, politicians often blame the political transition for the dysfunction of development. In order to end the culture of blame game, we need the constitution which can end the existing political fiasco.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The business community wants this government to draft the constitution on time, opines Rajan Singh Bhandari. The economy cannot go ahead in an ad-hoc basis forever. This fact should be realized by all political parties and they need to draft the new constitution and promulgate it within the stipulated time, he adds.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong>Conclusion&nbsp;</strong></span></div>
<div>
	Many leaders often express the hopes of transforming Nepal into another Switzerland. And, it is not a far cry if we try. Can economic prosperity be achieved in a country that reels under perennial political problems? Entrepreneur Hari Bhakta Sharma says, &ldquo;Yes, we can achieve economic prosperity.&rdquo; We can achieve every success if there is collective effort from the government and the private sector and positive vibes for development among people, he claims.&nbsp;</div>
<div>
	It is widely believed that the new government will be successful to take a decisive role to make our collective dream of becoming rich and prosperous a reality. And, we all need to be clear that the economic prosperity is not meant only for business community but for all of us. Let us make a collective dream and start the journey of becoming a prosperous nation. It is a fact: &ldquo;United we stand and divided we fall.&rdquo; Let&rsquo;s make a collective effort to be the citizens of a prosperous country.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Cover Story" src="/userfiles/images/cs1%20(Copy)(3).jpg" style="width: 575px; height: 570px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-02-12',
			'modified' => '2014-02-17',
			'keywords' => 'new business age cover story news & articles, cover story news & articles from new business age nepal, cover story headlines from nepal,  current and latest cover story news from nepal, economic news from nepal, nepali cover story economic news and events,  ongoing  cover story news of nepal',
			'description' => 'The results of the second Constituent Assembly (CA) election show that parties contesting on very radical economic ideologies have been rejected by the voters. Nepali Congress (NC), which is considered as a party having the most liberal economic policies, dominated the polls especially in the urban areas across the nation.',
			'sortorder' => '2429',
			'image' => null,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2563',
			'article_category_id' => '134',
			'title' => '‘The Corporate Sector Must Lead MAN’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>Janak Raj Shah</strong> is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7).<strong> Akhilesh Tripathi</strong> of The Corporate caught up with Shah, a former National Planning Commission member, for an interview. <strong>Excerpts:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the objectives of MAN? How successful has MAN been to achieve its objectives?</strong></span></div>
<div>
	Established in 1979, MAN is a nongovernmental organization and the apex body of management professionals in Nepal. It&rsquo;s a think tank with active support of the country&rsquo;s corporate sector. It has a strong membership base of over 2,000 individuals and 250 institutions from different disciplines and sectors of Nepali economy and society. It also provides policy recommendations to the government.</div>
<div>
	&nbsp;</div>
<div>
	The main objective of MAN is to apply, develop and promote management science and make necessary arrangements to offer such knowledge in Nepal. The other objectives are: bringing professionals and institutes related to management development under one umbrella through networking so as to facilitate interaction, innovation and pro-active involvement for promoting management professionalism; consolidating management development through education, training, research, consulting and information services; and keeping members informed of new developments in professional management approaches and their uses.</div>
<div>
	&nbsp;</div>
<div>
	MAN has been pursuing various activities to achieve these objectives for the last 33 years. These activities include interactive sessions, researches/studies and consultancies, EMBA program, professional training courses, bestowing management awards, membership expansion drive, institutional networking and so on.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>MAN executive committee and its general membership are dominated by bureaucrats. Why is the participation low by the corporate sector?</strong></span></div>
<div>
	The situation was like that in the past. For a long time, the pro-activeness of bureaucrats contributed a lot to MAN&rsquo;s activities. The situation has started to change now. The number of MAN members from the corporate sector has been increasing. They are contributing to MAN&#39;s activities directly and indirectly. I am of the opinion that the corporate sector must lead MAN as per its vision and objectives. Realising this fact, we are inviting managers from the corporate sector to participle in MAN&rsquo;s activities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your achievements as MAN President for two consecutive terms?</strong></span></div>
<div>
	I have successfully completed two terms as MAN President. I am satisfied with the performance of MAN. However, we have to do a lot in the time to come. &nbsp;We have worked for preparing and implementing MAN&#39;s strategy to increase its height in the field of management development. We are successfully running an EMBA programme of Purbanchal University. We have been able to open MAN&#39;s Chapters in Pokhara, Dhangadhi and Biratnagar. I am optimistic that other Chapters will be opened in other parts of the country. One of MAN initiatives, the Management Development Campus, was able to receive the Best B-School Award 2010 from the CMO Council. As the president of MAN, I received the &#39;Golden Star Academic &amp; Educational Excellence Award 2013&#39; under Education Leadership Award at the &lsquo;World Marketing Summit, Malayasia 2013&#39; - a Philip Kotler Initiative for a Better World.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the things that you wanted to do but couldn&#39;t do because of various reasons?</strong></span></div>
<div>
	I had a dream of having MAN&rsquo;s own building to expand its activities smoothly and efficiently. During my tenure, I could not materialize this dream of infrastructure development. The participation from the corporate sector in MAN&#39;s activities is limited. However, I tried my level best to bring the private sector, more specifically the corporate sector, to this forum. The government&rsquo;s support to MAN&#39;s activities is not adequate though the government has helped us by sending students to our EMBA programme and providing us some grants every year.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are the international organizations that MAN is affiliated with? What benefits in terms of knowledge sharing has MAN got from this affiliation?</strong></span></div>
<div>
	MAN is one of the founding members of the Asian Association of Management Organizations (AAMO) which is working in the Asia Pacific region. It has also close links with the American Management Association (AMA), All India Management Association (AIMA), North India Management Association (NIMA) and many others. We have also signed MoUs with other national and international organizations such as AAMO, Rai Foundation, and NIMA for scholarship programmes. These linkages have helped MAN to have access to information on the best management practices and techniques available in other parts of the world.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are MAN&rsquo;s challenges?</strong></span></div>
<div>
	Resource constraint is the main challenge which has affected the sustainability of MAN&rsquo;s activities. Limited participation of Man&rsquo;s members in its activities is another challenge. Having MAN&rsquo;s own building is yet another challenge. This has been my dream as well. To turn the dream into reality, we made our level best efforts and even requested the government to provide us land in the &lsquo;right to use&rsquo; (BHOGADHIKAR) mode as other similar non-governmental organizations have got land from the government. But this process is yet to reach a logical conclusion. If we could meet these challenges, MAN&rsquo;s activities could be run in a sustainable way.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>What are your expectations from the new Executive Committee?</strong></span></div>
<div>
	I have many expectations from the new executive committee to be elected. I am optimistic that new team will add some bricks for the overall development of MAN. The prospective executive committee members in scene are well-known professionals from different sectors and as dedicated successor they deserve to lead the MAN ahead. So I shall be more than happy to handover MAN to the new team. I would like to suggest to the new team that they should focus themselves on MAN activities such as adding value to trainings, EMBA programme and research. MAN&rsquo;s roadmap is clear with its strategic vision and objectives. But it needs to be backed by the action plan which is lagging behind. Therefore, they should create an environment and motivate MAN members to contribute by participating in the various sub committees. Equally, the attention should be given to infrastructure development of MAN. For your kind information, I also will be there as the part of team as an executive member in the capacity of Immediate Past President (IPP). MAN believes in togetherness and cooperation, so again it is my pride to be there to contribute to MAN in the future as well.</div>',
			'published' => true,
			'created' => '2014-02-09',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Janak Raj Shah is the president of Management Association of Nepal (MAN) which is organizing its 33rd National Management Convention and Annual General Meeting (AGM) today (February 7). Akhilesh Tripathi of The Corporate caught up with Shah, a former National Planning Commission member, for an interview.',
			'sortorder' => '2428',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2578',
			'article_category_id' => '206',
			'title' => 'LG G2: Twice The Genius',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--BY Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="LG G2" src="/userfiles/images/lg%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 262px;" />LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone. In terms of hardware specifications, the G2 is among the most powerful smartphones that money can buy. The phone is powered by a quad-core 2.26 GHz Krait 400 processor clocked at 2.26GHz which uses the latest Qualcomm MSM8974 Snapdragon 800 chipset. &nbsp;Similarly, with LPDDR3 2 GB RAM and Adreno 330 GPU, G2 can handle most of the heavy tasks very easily. Be it high-end mobile gaming or multitasking, the phone runs smoothly without showing any sign of snag.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The G2 sports a 5.2 inch True HD-IPS + LCD capacitive touch screen protected by Corning Gorilla Glass 2. The front of the phone looks attractive with and exceptionally thin bezel. The company calls it &#39;near zero bezel&#39; for &#39;edge to edge viewing&#39;. With 442 ppi pixel density, its screen has a resolution of 1080 X 1980 pixels which gives vibrant and crisp display. G2 uses Graphic RAM (GRAM) technology that claims to reduce the display&acute;s energy use by 25 percent. On top of Android Jelly Bean 4.2.2 OS, G2 runs on LG&#39;s Optimus UI. The OS has its own unique customizations with features like guest mode (multiple user option) and KnockON (unlock/lock phone with a double tap on the screen) among others. G2&#39;s build is excellent as it has a high-gloss plastic body. The phone feels lighter in hand weighing just 143 grams.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	G2 houses a powerful camera system. A 13 megapixel snapper sits on its back while the front side sports a 2.1 MP secondary shooter. Both cameras can be activated simultaneously. The primary camera comes with optical image stabilization which also features HDR mode. Users can capture photos at a max resolution of 4160 x 3120 pixels. With the primary camera, the G2 records 1080p videos at 60 fps along with the front camera shooting full HD videos at 30 fps. Physical buttons are absent throughout the sides. Strangely, it houses all the buttons (power key and volume rocker) at the back of the phone, just below the secondary camera. Users can have awesome sound experience with G2 as it is packed with Dolby mobile sound enhancement. Audio Zoom is another special feature which lets users zero in on a sound source, simply by zooming in on the subject while shooting a video. The phone also houses a stereo FM radio with RDS.</div>
<div>
	&nbsp;</div>
<div>
	On the power backup front, the phone has 3,000 mAh battery. It can give a backup for 34 hours of talk time on 2G and 15 hours on 3G. Storage, however, seems to be an issue. The G2 comes with 32 GB internal storage and does not have a microSD card slot for memory expansion. CG Impex Pvt Ltd, the authorised distributor of LG smartphone in Nepal launched G2 amid a function on February 4, Tuesday. The company has priced the smartphone at Rs 75,000 in the domestic market.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-13',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'LG, the Korean smartphone manufacturer has been steadily moving into the global gadget arena. With its new flagship product- LG G2, the company seems to have taken more time in carefully designing and packing loads of features into a smartphone.',
			'sortorder' => '2427',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2582',
			'article_category_id' => '153',
			'title' => 'Chyangra Pashmina Regains Warmth',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Eliza Tuladhar</strong></div>
<div>
	&nbsp;</div>
<div>
	With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life. Pashmina product is one of the major exportable products of the country but the export of the product started declining in the early 2000 when the international market started importing Pashmina products from Chinese and the Indian Market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The loss of reputation has significantly affected the Pashmina that was a very strong export industry for Nepal. In the year 2000, the industry had exported Pashmina worth Rs 15 billion but it has reduced to a mere Rs 1 billion currently due to the cheap fake products that keep the market flooded.</div>
<div>
	&nbsp;</div>
<div>
	However now with the support of WTO/EIF Trading Stories project the Pashmina industrialist are hopeful to revive its international trading and minimize the threat created due to the increasing number of export from the Chinese and Indian market. According to Nepal Pashmina Industries Association (NPIA) President, Pushpa Man Shrestha, the association is hopeful that the project will start from March this year. &ldquo;The project under the WTO/EIF Trading Stories is a three years long project which will be basically focused on showcasing, Chyangra farming, production of raw material, Pashmina manufacturing process and finally its trading process,&rdquo; said Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The &lsquo;Pashmina Enhancement and Trade Support project under WTO aims to respond to trade related priorities in the Nepal Trade Integrated Strategies as well as to build sustainable local capacities and leverage additional resources from development partner pursuant to the goal. The project will contribute to achieving improved and increased export performance by at least 20 per cent. Chyangra Pashmina from Nepal is exported to more than 60 countries and the &lsquo;Chyangra&rsquo; trademark is registered in more than 40 of these countries.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Due to weak quality control and nominal productions of domestic raw materials, as well as lack of brand awareness of Nepali &lsquo;Chyangra Pashmina&rsquo; in the international market the export of Pashmina has been disturbed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>History of Pashmina</strong></span></div>
<div>
	Pashmina is the finest inner wool that grows as layer at the very bottom of thick and coarse fibre of Himalayan goat, locally known as chyangra (Capra Hircus), living above 2000 meter from the sea level. Each chyangra does produce 90 grams of Pashmina once a year. It is extracted from its body either by combing or by cutting during January to February. Pashmina is one of the finest, softest, warmest and lightest wool found in nature. In fact, it is the best wool in the world. Pashmina is known by different names like &ldquo;Diamond Fibre&rdquo; and &ldquo;Soft Gold of High Asia&rdquo;. It is unparalleled in uniqueness and elegance to any other fibres. The main raw materials used for producing Pashmina products are &lsquo;Pashmina Yarn&rsquo; and &lsquo;Silk Yarn&rsquo; plus dyes and chemicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Pashmina in Nepal" src="/userfiles/images/pmn%20(Copy).jpg" style="width: 550px; height: 260px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Production of Pashmina&nbsp;</strong></span></div>
<div>
	The production process of pashmina product generally includes weaving, dyeing, processing, fringing, tassels, embroidery, beadwork, printing etc. Nepali Chyangra Pashmina, one of the major exportable product of the country is &lsquo;the softest, exotically, delicate, weightless and the finest insulating fibre of the world with high potential for export to the European market. The outer layer of Chyangra is discarded and only the inner layer of fibre measuring less than 16.5 microns is specified for use as Pashmina. These extraordinary characters of Pashmina fibres have encouraged weavers to produce various types of wraps for warmness. The exquisite characters of Nepali Chyangra Pashmina have established it as the most precious possession. The Pashmina fibre thus obtained from the Chyangra are spun into thin yarn which is woven to make different types of Pashmina products like blankets, shawls, stoles, scarves as well as pullovers, cardigans etc.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pricing of Pashmina products&nbsp;</strong></span></div>
<div>
	The price of Nepali Pashmina product basically depends upon its quality, ordering size, colour, design and size. Almost all of the Pashmina industries are concentrated in the Kathmandu Valley. They are absolutely export-oriented. However, it has been given the impression that as many as 5 per cent of its products may be consumed within the country. Pashmina products account for more than 50 per cent of the total export figure of the handicraft products. And it is the major export component under the handicraft goods category.</div>
<div>
	&nbsp;</div>
<div>
	The number of international export markets of Nepali Pashmina products exceeds 40 out of which, USA, Italy, Canada, UK, France, Japan, Germany and India are the major ones.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Challenges faced by Nepali Chyangra Pashmina</strong></span></div>
<div>
	Nepali Pashmina industries need to import all the raw material. Pashmina Yarn and Silk Yarn are imported from China and India and Chemicals and dyes from Europe and India. It can be made of pure Pashmina yarn or by using both Pashmina yarn and Silk yarn in a certain proportion normally in the ratio of 70:30, depending upon the demand of the buyers. Fineness, softness, warmness, lightness, durability and craftsmanship are its inherent features. Shrestha also claimed that lower priced Indian Pashmina products have hit the market of Nepali Pashmina and has made it difficult to survive the growing price competition. Pashmina exporters also say that according to the international buyers, price of Nepali Pashmina products is around 30 per cent more than that of Indian products. Indian exporters can buy huge quantity of raw materials and have started their own spinning that has made their products more competitive in the international market.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Pashmina industries in the country&nbsp;</strong></span></div>
<div>
	According to Nepal Pashmina Industries Association (NPIA) there are around 20 industries that have exports of around Rs one billion including exports to India. There are 300 Pashmina exporters registered at NPIA and out of them 20 have high production capacity and with good export figures. There are around two to four industries who also export Pashmina to India.</div>
<div>
	&nbsp;</div>
<div>
	Pashmina was famous across the world for the past couple of decades but with the introduction of low priced and fake Pashmina wool, the original Pashmina industry is fighting for existence. However the product is gradually being reintroduced as the brand &lsquo;Chyangra Pashmina&rsquo;. &ldquo;We have tried to reintroduce the Nepali Pashmina with the brand &lsquo;Chyangra Pashmina; and we hope that the WTO/EIF project will give us much required support to move ahead with promotion and development of new products and improvement of the products that will meet the demands of the international market,&rdquo; said Shrestha. The association along with the government has registered a collective trademark &lsquo;Chyangra Pashmina&rsquo; and its logo in the domestic and international markets to get rid of fake pashmina. Chyangra pashmina is now a registered brand in 41 countries. The association has also applied for its registration in South Africa, Brazil, Russia, Taiwan and the UAE.</div>
<div>
	&nbsp;</div>
<div>
	The World Trade Organization has recently developed trading stories of Pashmina to create awareness about the product and bring more opportunities for it in the international market. The Pashmina trading story includes each step of production &ndash;&ndash; from Chyangra farming to processing &ndash;&ndash; which will help create awareness about pure Chyangra Pashmina among the people in around 148 countries.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Shawl" src="/userfiles/images/1%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 50px; height: 102px;" />Shawl</strong></span></div>
							<div>
								Pashmina Shawls are the most exportable Nepali product. It is loosely worn over the shoulders, upper body, and arms. Generally in Nepal it is used by ladies in parties and function, outings in winter season where as in the western countries female use it anytime as a fashion statement.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Stole" src="/userfiles/images/2%20(Copy)(3).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 75px; height: 90px;" />Stole</strong></span></div>
							<div>
								Pashmina stole is a smaller form of the shawl. Nepal is renowned all over the world for its finely woven Pashmina stoles. Stoles are mostly used by younger generation without wrapping. It covers the shoulders and falls down in front of the body.&nbsp;</div>
							<div>
								&nbsp;</div>
							<div>
								<span style="font-size: 14px;"><strong><img alt="Scarf" src="/userfiles/images/3%20(Copy)(3).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 80px; height: 100px;" />Scarf</strong></span></div>
							<div>
								A scarf is a piece of fabric worn around the neck for warmth. &nbsp;Nepal is well known for its finely woven Pashmina scarves. It is also one of the most exportable products.&nbsp;</div>
							<div>
								&nbsp;</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the joint efforts of the government and the World Trade Organization (WTO)/ Enhanced Integrated Framework Trading Stories project, a project that aims to improve Pashmina product development and marketing, the Nepali Chyangra Pashmina is finally going to receive a new lease of life.',
			'sortorder' => '2426',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2575',
			'article_category_id' => '99',
			'title' => 'Reach The Clouds From Hotel Shambala',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sujan Tiwari</strong></div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel. &ldquo;Hotel Shambala is a modern hotel with a traditional touch, offering luxurious amenities,&rdquo; said Ghising.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The entire hotel is built around the theme of Tibetan art, and has its elements everywhere. It includes the use of bright and vibrant colours, Tibetan themed decorations and most noticeably, the use of typical clouds used in the art form. The front desk at the lobby, the walls and ceilings of rooms, pillows and bed sheets all have images of clouds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The eight-storey Hotel has 65 deluxe and standard rooms and three suites. All the rooms are impeccably furnished and offer all the modern amenities possible. With adequate space and a great view, all of the rooms are fully air-conditioned. There is a safety locker, coffee maker and LED TVs in each room. Great attention is paid to comfort and luxury, as all the furniture is very cosy and all the mattresses used are imported. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala also boasts of a multi-cuisine restaurant named Erma that spreads across a wide area, and can cater to around 80 diners at once. The restaurant also follows the theme of clouds, and is equally lavish as the Hotel itself. The restaurant serves Continental, Indian, Chinese and Tibetan delicacies among others. &nbsp;There is a bar adjoining the restaurant with a good assortment of liquors. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;Worthy of mention is the Ayatana Spa of the Hotel. The Spa offers services like different massages, sauna, Jacuzzi, steam and beautification services like facial and others. The Spa is open to guests from outside as well. There is also a lounge and an infinity pool on the roof of the Hotel.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is not just one of the plushest hotels around, but also is one of the safest. There is an emergency exit and fire hose on each floor, along with smoke detectors and glow-in-the-dark signs at exits. Apart from its safety features and lavish amenities, all the usual hotel services like laundry, parking, 24 hour power backup and hot water among others are there.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Hotel Shambala is offering promotional rates till September. With the offer, a night here will cost you USD 75 for single room and USD 85 for double. &nbsp;Try Hotel Shambala for an elegant and classy stay, all complimented by impeccable hospitality.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotel Sambala" src="/userfiles/images/t2%20(Copy).jpg" style="width: 550px; height: 151px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-18',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Hotel Shambala, a newly opened boutique hotel at Bansbari is all set to redefine luxury and opulence. After three years of construction process, the Hotel came into operation from the first week of January. According to Laxmi Ghising, Executive Director of the Hotel, Shambala is a contemporary Tibetan themed boutique hotel.',
			'sortorder' => '2425',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2580',
			'article_category_id' => '116',
			'title' => 'Namaste Infotech Enters 5th Year',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="NAMASTE INFOTECH" src="/userfiles/images/nm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 185px;" />Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Managing Director of the company Ekraj Sedhain informed that the company has been providing IT based services and solutions to a numerous sectors. According to him, the company is providing services like ICT counselling, ICT auditing, and system and network solutions. He informed that the company also provides counselling on how to maximising the IT infrastructure, and ways of preventing its &nbsp; misuse.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Namaste Infotech also vends ICT equipments according to the requirement of the customers. The company informed that it will soon provide maintenance services to individuals and households at a relatively affordable price.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-12',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Namaste Infotech has completed four years of its operation on 31st January 2014. The company started providing ICT solutions four years back, and has steadily expanded its services to corporate houses, government offices, non- government organisations, financial sector, educational sector and to the hospitality industry.',
			'sortorder' => '2424',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2579',
			'article_category_id' => '199',
			'title' => 'Tech Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>YouTube Starts Auditing Video Views</strong></span></div>
<div>
	The video-sharing website YouTube said it has started to &ldquo;audit&rdquo; the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like &ldquo;redirects&rdquo; or &ldquo;buying&rdquo; views to boost their count. YouTube said it will now &ldquo;periodically&rdquo; validate the views on videos and remove the fraudulent ones from the total.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Wearable Device Turns Your Palm Into Touch Screen</strong></span></div>
<div>
	A new gesture-based wearable transmitter that turns your palm into a touch interface has been developed by an Indian IT-start up. The ring-shaped transmitter called Fin is worn on the thumb and uses Bluetooth to communicate with different devices. The portable device enables users to control up to three devices such as smartphones, car radios and smart TVs using only swipes and taps, &lsquo;Mashable&rsquo; reported. Until now, the device has five pre-programmed gestures. However, users will be able to create customised programmes on an app that will come with the device, in its final iteration. The device can control the volume on a TV, and even lets users text or dial a number without touching their phone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Facebook&rsquo;s New App &lsquo;Paper&rsquo; Aims to Provide Personalized News</strong></span></div>
<div>
	Facebook stepped more directly onto the news media&rsquo;s turf, rolling out a new iPhone app called Paper that enlists a handful of human editors to supplement its computers in recommending articles and blog posts on a dozen topics, including top news, food, parenting, the environment and gay rights. The app, which made its debut to rave reviews from tech news sites, offers users an easy way to browse their news feeds. But it also presents them with a series of minimagazines, each with a distinct tone and articles chosen by unidentified curators the company says have extensive expertise in their fields.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsung to Unveil Latest Galaxy S Smartphone in Late February</strong></span></div>
<div>
	Samsung Electronics Co will unveil a new version of its flagship Galaxy S smartphone this month, but expectations are low that features such as a bigger screen will lead to a sharp jump in sales given intensifying competition. Samsung sent out invitations on Tuesday for &ldquo;Samsung unPacked 5&rdquo; event on Feb. 24 at the Mobile World Congress in Barcelona. The S5 is widely expected to feature a bigger screen, an improved rear camera and biometric functions such as iris recognition or a fingerprint scanner. It may also come with an improved Galaxy Gear smartwatch.</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The video-sharing website YouTube said it has started to “audit” the number of views a video has received. The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video. There are concerns that some viewers are using tools like “redirects” or “buying” views to boost their count. YouTube said it will now “periodically” validate the views on videos and remove the fraudulent ones from the total.',
			'sortorder' => '2423',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2577',
			'article_category_id' => '100',
			'title' => 'Tourism Briefs (7 - 16 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Tibet Sees Record Tourist Numbers In 2013</strong></span></div>
<div>
	<img alt="Tibet" src="/userfiles/images/t4%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 109px;" />Tibet saw a record number of visitor arrivals in 2013, as Chinese visitors flocked to the region. According to the latest data from the Tibet Tourism Bureau, reported by Xinhua, a total of 12.91 million people travelled to Tibet last year, marking year-on-year growth of 22%. &nbsp;This total only included 223,000 international visitors however, or just 1.7% of total arrivals. The number of international arrivals to Tibet increased 15%. The region&rsquo;s tourism revenues also saw strong growth in 2013, rising 31% to CNY16.5 billion (US$2.7bn). According to authorities, Buddhist sites including the Potala Palace, Jokhang Temple and Zhaxi Lhunbo Monastery were the most popular tourist attractions last year, although no official visitor figures were provided for these sites. The regional tourism bureau said it expects visitor numbers to increase to 15m per year by 2015. International visitors still need to obtain an official travel permit prior to visiting Tibet. (Traveldailymedia.com)</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Conrad Hotels to Debut In India</strong></span></div>
<div>
	<img alt="Conrad Hotels to Debut In India" src="/userfiles/images/t5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 104px;" />Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels &amp; Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra. In doing so, it will become the first ever Conrad hotel in India and marks the arrival of Hilton&rsquo;s fifth brand in the country, following Hilton Hotels &amp; Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton. Conrad Pune will be set in a modern skyscraper on Mangaldas Road, in Pune&rsquo;s central business district. Designed in an art deco style, the hotel will feature 310 rooms, six F&amp;B outlets, an outdoor swimming pool, fitness centre and spa. It will also offer extensive conference and banqueting space, with a large ballroom, break-out room, pre-function area, four boardrooms and a 24-hour business centre. Conrad Pune will become Hilton&rsquo;s 12th property in India and its second in Pune, following the DoubleTree by Hilton Pune-Chinchwad. (Traveldailymedia.com)&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tripadvisor Redesigns Flights For Airlines Globally &nbsp;</strong></span></div>
<div>
	<img alt="Tripadvisor Redesigns Flights For Airlines Globally  " src="/userfiles/images/t6%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 150px; height: 74px;" />TripAdvisor announced a redesign of its Flights search product &ndash; the first to feature comprehensive in-flight insights, amenities information and candid traveller photos coupled with the ability to scan for the lowest prices for airlines globally. In addition to helping travellers find the lowest fares, TripAdvisor Flights now combines a number of new benefits. It includes details on the in-flight experience as Travellers using TripAdvisor Flights will now know exactly what in-flight amenities can be anticipated before they book, including WiFi, power ports and in-flight entertainment. TripAdvisor also reveals available legroom (tight, average, spacious), so travellers can find the most comfortable seat. The product also provides traveller insights on seat type and pitch, as well as thousands of candid traveller photos from SeatGuru of airline seats and cabins and seat maps, giving flight shoppers an inside peek at the aircraft before they book. The results display now clearly identifies thousands of aircraft equipped with extra legroom seats. TripAdvisor also continues to offer its award-winning Fees Estimator that dynamically calculates the cost of baggage and other amenities into the live display, so that travellers are not surprised at the gate. (Traveldailynews.com)</div>',
			'published' => true,
			'created' => '2014-02-10',
			'modified' => '2014-02-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Hilton Worldwide has signed a new agreement that will see the luxury Conrad Hotels & Resorts brand debut in India. The US hotel giant has penned a management contract with Palm Grove Beach Hotels for the Conrad Pune, which is expected to open next year in the state of Maharashtra.',
			'sortorder' => '2422',
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