Visual Edit Vol 4 Issue 4

Nov 30, -0001 0 0 seconds to read

…

Creating A Strong South Asia

Nov 30, -0001 0 5 minutes 37 seconds to read

…

All Big Companies Should Go Public

Nov 30, -0001 0 3 minutes 15 seconds to read

…

Work Experience

Nov 30, -0001 0 24 seconds to read

…

Mai Hydel Project To Start Commercial Production In 5 Months

Nov 30, -0001 0 1 minutes 22 seconds to read

…

Nepal Political Economic News In Brief (27 January - 02 February 2014)

Nov 30, -0001 0 3 minutes 35 seconds to read

…

Weekly Round Up (27 January - 02 February 2014)

Nov 30, -0001 0 4 minutes 6 seconds to read

…

Revenue Mobilisation Falls Short Of Target

Nov 30, -0001 0 41 seconds to read

…

Koirala Elected NC PP Leader

Nov 30, -0001 0 34 seconds to read

…

Nepal's Rice Production To Increase: USDA

Nov 30, -0001 0 1 minutes 30 seconds to read

…

Vishal Group The Emerging FMCG Powerhouse

Nov 30, -0001 6 7 minutes 59 seconds to read

…

Gates Says Poor Countries Not Doomed To Stay Poor

Nov 30, -0001 0 2 minutes 12 seconds to read

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Nepal Falls In Economic Freedom Ranking

Nov 30, -0001 0 2 minutes 46 seconds to read

…

Biztoon / Voices January 2014

Nov 30, -0001 0 2 minutes 2 seconds to read

…

Bajeko Sekuwa

Nov 30, -0001 0 5 minutes 10 seconds to read

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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	<strong>--By Madhav Prasad Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asia is sitting on enormous wealth of resources of one sort or the other. The richness of the region in terms of human and natural resources, historical and cultural heritage and natural diversity is incomparable. The region is homogenous in terms of similar cultures, traditions, values and beliefs. Furthermore, in this era of interdependence and interconnectedness, we find our interests intersecting in many areas that should help foster the sense of partnership to achieve larger regional objectives.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is true that the activities of SAARC have been directed towards tapping the regional potentials. Various programmes and projects have been launched for common benefit. Trade liberalization, including elimination of para-tariff and non-tariff barriers, is in progress. Work is underway for concluding an agreement on investment promotion and protection in the region. SAARC has given emphasis on enhancing regional connectivity. A number of activities have been carried out in the field of promotion of tourism and people-to-people contacts. However, the pace is slow and progress is limited. Much remains to be done to change the socio-economic landscapes of the region.</div>
<div>
	&nbsp;</div>
<div>
	Despite our regional efforts to make South Asia a region of peace, prosperity and happiness, this region still faces varying challenges such as poverty, hunger, underdevelopment, trafficking of women and children, energy crisis, environmental degradation and so on. In fact, these challenges are not unique to South Asia alone; other regions also face them but they are more pronounced in our region.It is only through the concerted and collaborative efforts of all countries of South Asia that these challenges can best be addressed for the greater interest of the region. We need to mobilize requisite political will and redouble our efforts in this regard.</div>
<div>
	&nbsp;</div>
<div>
	The global economy has witnessed a tectonic shift with emergence of new growth poles in regions that were largely underdeveloped a few years ago. Consistent with this global trend, we must seriously think of making South Asia a vibrant region with emphasis laid on trade and investment. This will call for a number of enabling measures including elimination of intra-regional barriers, development of physical infrastructure to enhance regional connectivity and reduction of gap of energy shortage, among others. Some policy reforms may also be required to create South Asia as a whole an investment friendly region. While we aspire for deeper regional integration, opportunities for equitable sharing of benefits from such integration will have to be guaranteed with a view to providing a level-playing field to all members. This is because of different levels of resources endowment, productive capacity, industrialization and socio-economic development among SAARC member states.</div>
<div>
	&nbsp;</div>
<div>
	Our efforts to fight poverty require implementation of projects benefitting the common peoples through income generation and skill enhancement. Targeted, focused and dedicated economic and social measures are essential to lift people out of grinding poverty and hunger. Poverty eradication must remain at the core of all development policies, programmes and activities, as the broader goals of sustainable development cannot be achieved without eradicating poverty.</div>
<div>
	&nbsp;</div>
<div>
	Our focus should be to adopt such policy and programmes that could provide better education opportunities and health care services, widen job market and other opportunities, empower peoples, and strengthen national capacities in order to create a strong South Asia. Effective ways and means are required to address the adverse and disproportionate impact of climate change, which has emerged as one of the largest development challenges of our time. We also need concerted measures to fight against terrorism, trafficking in women, children and drugs and other transnational crimes that pose serious threat to the peace and stability of the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To find a secure place in a rapidly globalizing world characterized by the proliferation of regional groupings of varied speed and scale, we should gear our efforts towards developing collective competitiveness in the region, especially in the areas of economy, trade and investment. It can be achieved through greater regional economic integration and collective capacity building endeavours. For this, matters relating to trade, transport and infrastructure should be addressed on an urgent basis. Special emphasis should be accorded to the needs and concerns of the least-developed and land-locked members of the Association. Likewise, through the expansion of intra- and inter-regional trade backed by smooth, timely and effective implementation of SAFTA, the Association can work towards realizing the goal of establishing the South Asian Economic Union in the future.</div>
<div>
	&nbsp;</div>
<div>
	Economic growth and social progress should go hand in hand, as the one reinforces the other. Economic growth serves as the foundation of progress in other areas. It is essential to promote and sustain gains in social and human development. Likewise, social progress and human development help achieve faster economic growth on a sustainable basis. Delivering concrete results to the peoples in the region is essential to ensuring their ownership of the SAARC process. Clearly, this entails moving from the phase of making promises to actions. For this, we need first to think seriously what is doable and what is not, and then chart a pragmatic course of action that is in the interest of, and supported by, all members. We have spent considerable time and energy in establishing elaborate institutions and work programmes. As a result, both institutions and activities have proliferated over the years. Now the time has come to consolidate the gains and make a visible and qualitative difference in the operation&nbsp;</div>
<div>
	of SAARC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	SAARC is lagging behind other regional groupings both in terms of visibility and progress. We need to work hard to catch up to grasp the emerging opportunities at the global level. SAARC offers a vital tissue, connecting peoples in the region. Widely disseminating SAARC ideals and spirit across South Asian region is equally important to constantly nurture the SAARC process through people&rsquo;s positive response and commitment.Likewise, educational institutions in the region can inculcate young minds with a sense of togetherness under SAARC umbrella. In addition, greater mobility and exchange between South Asian peoples will help foster and nurture South Asian fraternity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Ghimire is the Minister for Home and Foreign Affairs of the Government of Nepal. The article is adapted from the keynote address he delivered at the inaugural session of the seminar on &ldquo;Bringing SAARC Closer to the People: A Nepalese Perspective,&rdquo; jointly organized by the Institute of Foreign Affairs and the SAARC Secretariat in Kathmandu on 20 January 2014.)&nbsp;</em></div>',
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			'title' => 'All Big Companies Should Go Public',
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	Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.</div>
<div>
	&nbsp;</div>
<div>
	There are many advantages for a company going public. The financial benefit in the form of raising capital is the most distinct advantage. Capital can be used to fund research and development, fund capital expenditure or even used to pay off existing debt. Another advantage is an increased public awareness of the company because IPOs often generate publicity by making their products known to a new group of potential customers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Still, MNCs like Dabur Nepal, Surya Nepal, Asian Paints etc are not listed at Nepse. The parent companies of these MNCs are, however, listed at the capital markets of their respective countries. Very few MNCs like Uniliver, Bottler&rsquo;s Nepal and Taragaon Regency Hotels are listed at the capital market. The MNCs operational in Nepal perhaps don&rsquo;t need to raise capital from the general public as their principals abroad have deep pockets.</div>
<div>
	&nbsp;</div>
<div>
	Besides MNCs, there are big companies run by the established business houses in the country that are reluctant to go public. These companies have not felt the need to issue IPO as their owners are often the promoters of banks and insurance companies. So, they can get loans from the banks and can also claim insurance comparatively easily.</div>
<div>
	&nbsp;</div>
<div>
	But raising capital is not the only reason why a company should go public. Public companies are expected to be more transparent as they have to abide by the rules and regulations of the regulator of the capital market which is the Securities Board of Nepal (SEBON) in our case. Public companies have to issue periodic financial reports and hold AGMs which means added disclosure for investors. These activities put pressure on public companies to be more transparent. Maintaining transparency enhances the public image of companies. There is no reason why a company should not try to become more transparent.</div>
<div>
	&nbsp;</div>
<div>
	Recently, the government has started preparations to make all telecommunications companies as public companies. This step by the government is welcome. So far, only the state-owned Nepal Telecom is a public company. Other telecom operators such as NCell, United Telecom, STM Telecom, Smart Telecom, Nepal Satellite etc are operating as private companies. The government wants all these existing companies to go public and has indicated that new entrants will be issued license only after they agree to become a public company.</div>
<div>
	&nbsp;</div>
<div>
	A committee formed to study cross holding in telecoms has already forwarded its suggestions to the government. According to the suggestions, the ceiling of cross holding in public companies should be restricted to 15 per cent. Similarly, the committee has suggested that the share of one person or group should not be more than 51 per cent. However, the committee has suggested that the current provision for a foreign investor to hold up to 80 percent of shares in a company should be given continuity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is a need to revise this provision, if not in the case of the existing companies then in the case of new companies where two or more foreign investors should be allowed to hold up to 80 per cent of shares. Such a policy would make sure that there two or more foreign investors in one company and if one of them wants to make an exit, any of the other companies can buy the shares.</div>',
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			'description' => 'Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.',
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			'title' => 'Work Experience',
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			'summary' => null,
			'content' => '<div>
	Two employees are having a conversation on work experience. One asks the other: &ldquo;How long have you been working here?&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Ever since the boss threatened to fire me!&rdquo; came &nbsp;the reply. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>',
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			'description' => 'Two employees are having a conversation on work experience. One asks the other: “How long have you been working here?”',
			'sortorder' => '2358',
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			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
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			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
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			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
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			'id' => '2512',
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	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
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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' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</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' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2506',
			'article_category_id' => '138',
			'title' => 'Nepal's Rice Production To Increase: USDA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal&#39;s rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation&#39;s Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal&#39;s rice production to increase to 4.6 million tonnes last year. &nbsp;According to the UN agency, timely and sufficient monsoon downpour contributed to the country&#39;s rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>',
			'published' => true,
			'created' => '2014-01-27',
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			'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2503',
			'article_category_id' => '122',
			'title' => 'Vishal Group The Emerging FMCG Powerhouse',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Arpit Agrawal, Director, Vishal Group" src="/userfiles/images/sp2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 226px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<div>
								<strong>Arpit Agrawal</strong></div>
							<div>
								Director, Vishal Group</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Vishal Group&rsquo;s seeds were sown in Dharan. The first generation entrepreneurs from the Agrawal family had a textile shop there. When the family-owned textile business was passed onto the next generation, it took a shape of a manufacturing industrial house following their entry into steel manufacturing. The group has two steel factories in Biratnagar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Then the group moved into the financial service which was further diversified into imports and distribution. United Distributors Nepal Pvt Ltd, one of the flagship companies of the group has around 50 top brands of the world in its portfolio that it distributes across Nepal. Similarly, the group has involvement in the automobiles, financial services, real estate, education and manufacturing among other sectors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Diversification</strong></span></div>
<div>
	Arpit Agrawal, Director of Vishal Group says that it was the efforts of his grandfathers, uncles and his father who took the group to the next level. He says that their exposure to the international business practices and the ideas they brought into the company worked well for the success of their family owned business. Though the group started diversification with the manufacturing of steel, the business that is as strong as the steel now comprises of 40 per cent of the distribution business.</div>
<div>
	&nbsp;</div>
<div>
	The Agrawal family has divided the business among themselves on sector basis. &nbsp;Agrawal feels that it is the expertise of the entrepreneurs in the family that helped in the diversification decisions. Agrawal, one of the youngest entrepreneurs in the family adds, &ldquo;If I am given with a choice between manufacturing and distribution business, I would go for the distribution. Manufacturing sector has small and clustered market. The latter offers me scope for my personal as well as professional development. And, more importantly, I enjoy this particular sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	In the distribution sector, Vishal Group and its subsidiaries are authorised distributors for 50 different FMCG brands in personal care, food and beverages, electronics, liquor and medicines. When asked about the future concentration of the group, Agrawal says that Vishal Group wishes to be the number one FMCG powerhouse of the country. However, he hinted that the group will not completely abandon its manufacturing base.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Days Ahead</strong></span></div>
<div>
	Agrawal says that the future of the group looks promising in his vision. &ldquo;Trading sector is the future for Vishal Group. And, we are certain that we will be the number one FMCG powerhouse of Nepal,&rdquo; he envisions. He is also hopeful that this target may be achieved sooner than three years. Agrawal says that the group has a wide range of products including small products like a mouth freshener to a luxury car. He adds that the group wants to be one stop solution to all the consumer goods and he says there is a possibility of establishing a department store selling only products that range from potato chips to luxury cars, distributed by the Vishal Group.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Beating the Competition</strong></span></div>
<div>
	Vishal Group hardly feels the presence of its competitors. Though the group sells anything ranging from potato chips to cars, Agrawal says that the group hardly feels any competition. &ldquo;We are so much busy working that we don&rsquo;t get time to think a lot about competition. It is always nice to know what our competitors are doing but we don&rsquo;t really get affected by what they do. We just want to grow as a brand rather than getting involved in beating our competitors,&rdquo; he explains. Agrawal further says that arrogance affects the brand image and the group is not arrogant at all.</div>
<div>
	&nbsp;</div>
<div>
	To have a significant market share, the group has covered 35 cities and towns across the country. And, it has 60 distributors in those cities and towns. These distributors distribute the goods imported by the group and ensure that they reach the target customers at ease. Agrawal says that products dealt by the group are available in the smallest of the shops of smallest of the towns. He informed that there are more than 100 people working in the sales team of the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various products offered by the group have their own distinct target markets from general public to premium niche clients. According to Agrawal, products of Procter &amp; Gamble on personal care segment has 35 per cent market share while chocolate brands like Mars and Snickers control about 40 per cent market. Similarly, Volkswagen targeted at premium customers has around 10 to 15 per cent market share in its class. Likewise, he adds that the recently introduced Royce energy drink aims to acquire the number two position, after Red Bull within a year.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Vishal Group Nepal" src="/userfiles/images/sp1%20(Copy).jpg" style="width: 550px; height: 196px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Unique Management Practices</strong></span></div>
<div>
	Vishal Group is designing one of its own kinds of offices in Nepal, says Agrawal. He adds that the working space is being modernised replicating the style of leading MNCs of the world. Agrawal says that in MNCs everyone sits in the same table, be it the highest ranking official or a junior employee, and this pattern is being incorporated at the Vishal Group&rsquo;s corporate office.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, he says that directors of the group prefer working in the workstation rather than at their private cabins so that employees could have easy access to them. &ldquo;We don&rsquo;t want our employees whom we call our associates feel that we are superior to them. We want to be very accessible. And, when I am working at the workstation, anyone can easily meet me anytime,&rdquo; explains Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;When we grow as a brand and a group, we call our employees our associates. We want them to grow not only financially but also professionally and personally along with the group,&rdquo; Agrawal shares. To ensure the employees develop a sense of belonging towards the company, the group has introduced various motivational packages. One of them is that the employees are allowed to take a half day leave to go to the movies every two months. Likewise, weekly off-work programmes are conducted at the office. The group has 2000 happy employees in all of its companies.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<span style="font-size:16px;"><strong>Awards and Recognition</strong></span></div>
						<div>
							&nbsp;Vishal Group has been recognised as the highest taxpayer in 2010 by the government. United Distributors Nepal Pvt Ltd, one of the subsidiaries of group was awarded the Highest Tax Payer of Nepal in the foreign trade category. Similarly, the group&rsquo;s quality commitment has awarded it with the much coveted &lsquo;NS Quality Award 2002&rsquo; given to Mainawati Steel Industries Pvt Ltd. The group claims that it is the first industrial unit to obtain &lsquo;ISO 9002&rsquo; certification under the cables segment. Similarly, Nepal Industrial and Commercial Bank, one of the subsidiaries of the group was conferred with &lsquo;Commercially Important Person 2002&rsquo; award.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:16px;">CSR Initiatives</span></strong></div>
						<div>
							Vishal Group believes in responsible business practices. The corporate social responsibilities (CSR) activities of the group are guided by the philosophy that the group must also give back to the society when it keeps growing larger. The group is involved in a number of social and community projects contributing generously and responsibly. For this purpose, the group runs Gordhandass Kamalawati Paropkari Pratisthan, named after the group&rsquo;s founder and his wife. The trust funds various charitable organisations and activities related to education.</div>
						<div>
							&nbsp;</div>
						<div>
							Similarly, Agrasen Bhawan, based in Dharan is a community centre constructed on the land donated by the group. This centre offers food and accommodation services at a highly subsidised price to those travelling to Dharan. The centre also has meeting halls that are being used for community activities and events.</div>
						<div>
							&nbsp;</div>
						<div>
							Likewise, the group supports various humanitarian causes for the welfare of the needy people in the society. It has been providing monetary and other basic materials like clothes to orphans and needy families in various parts of the country. The group adopts three orphan children each year and sponsors their education and also donates prosthetic limbs to disabled people.</div>
						<div>
							&nbsp;</div>
						<div>
							<span style="font-size:16px;"><strong>Some Brands Distributed by Vishal Group</strong></span></div>
						<div>
							<span style="font-size:16px;"><strong><img alt="" src="/userfiles/images/sp%20(Copy).jpg" style="width: 550px; height: 1473px;" /></strong></span></div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>',
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			'description' => 'Vishal Group is working with a vision to establish itself as a fast moving consumer goods (FMCG) powerhouse of Nepal within three years.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2507',
			'article_category_id' => '138',
			'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Philanthropists Bill and Melinda Gates are optimistic about the future of the world&rsquo;s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that&rsquo;s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. &quot;All three reflect a dim view of the future, one that says the world isn&#39;t improving but staying poor and sick, and getting overcrowded,&quot; Bill Gates writes in the 16-page letter. &quot;We&#39;re going to make the opposite case, that the world is getting better, and that in two decades it will be better still.&quot; Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world&#39;s most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it&#39;s less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. &nbsp;His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries &mdash; that they&#39;re plagued by natural disasters, political instability and corruption &mdash; have prevented people from understanding how much progress has been made.</div>',
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			'description' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2465',
			'article_category_id' => '138',
			'title' => 'Nepal Falls In Economic Freedom Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<div>
		Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the &lsquo;Mostly Unfree&rsquo; group. &nbsp;Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. &ldquo;Nepal&rsquo;s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption&hellip;its score remains far below world and regional averages&rdquo; informed the report. According to the report, this year&rsquo;s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. &ldquo;Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,&rdquo; the report said. &nbsp;Considered as a &ldquo;mostly unfree&rdquo; economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of &lsquo;moderately free&rsquo; economy. China, the world&rsquo;s second largest and Asia&rsquo;s biggest economy, ranked 139th.</div>
	<div>
		&nbsp;</div>
	<div>
		Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world&rsquo;s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group.  Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.',
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			'id' => '2500',
			'article_category_id' => '51',
			'title' => 'Biztoon / Voices January 2014',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Dr Kamal Raj Dhungel" src="/userfiles/images/krd%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;Government is suppressing private sector&rsquo;s growth.&rdquo;</strong></span></div>
<div>
	Dr Kamal Raj Dhungel, Professor at Central Department of Economics, Tribhuvan University alleging that the government has not done enough for the growth of the private sector. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Ichchha Raj Tamang," src="/userfiles/images/irt%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;The government must allow to sell apartments to foreigners too.&rdquo;&nbsp;</strong></span></div>
<div>
	Ichchha Raj Tamang, President of Nepal Land and Housing Developers&rsquo; Association advocating the need to sell apartments to foreigners to give a boost to housing industry.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Barsha Man Pun" src="/userfiles/images/bmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 94px;" />&ldquo;We won&rsquo;t distress the economy by organising bandhs.&rdquo;</strong></span></div>
<div>
	Barsha Man Pun, Former Finance Minister and UCPN Maoist Leader promising that his party will not be organising any general strikes and closures that will affect the economy.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Leela Mani Paudyal" src="/userfiles/images/lmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 98px;" />&ldquo;Industrialists must be responsible to the society.&rdquo;</strong></span></div>
<div>
	Leela Mani Paudyal, Chief Secretary, asking entrepreneurs to be accountable and responsible to the society and people.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Prof Dr Bishwambher Pyakuryal" src="/userfiles/images/dbp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; height: 98px; width: 80px;" />&ldquo;The economy faces the danger of macro-economic shocks.&rdquo;</strong></span></div>
<div>
	Prof Dr Bishwambher Pyakuryal, Senior Economist predicting what may happen to the economy because of large amount of money injected into the system during second Constituent Assembly Elections.</div>',
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			'title' => 'Bajeko Sekuwa',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Pinaki Roy</strong></div>
<div>
	&nbsp;</div>
<div>
	Started with an initial investment of Rs 600 over a quarter-of-a-century ago, &lsquo;Bajeko Sekuwa&rsquo; chain of restaurants has come a long way. &ldquo;Presently, our annual turnover well exceeds Rs 100 million,&rdquo; says its Chairman Chetan Bhandari.</div>
<div>
	&nbsp;</div>
<div>
	The enterprise came into being as an endeavour of his father Dinanath Bhandari who was passionate about cooking. During festivals and celebrations, family members and friends in his village would ask him to make Sekuwa (skewered barbecued meat). He would willingly do so and cherish their compliments on being a good cook.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After migrating to the capital, Senior Bhandari started a small eatery close to the Tribhuvan International Airport. It so happened that while on a visit to the airport, he noticed people selling different kind of food around the area. He observed that the airport served as a workplace for many people, including the services personnel, employees of Nepal Airlines Corporation, customs officials etc. It struck him that if he could put up a food joint there, decent footfall was almost a certainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Brand Name</strong></span></div>
<div>
	Many wonder where the eatery got its name from. When Bhandari ventured into selling sekuwa, he did not have a proper shop let alone having a name for identification. &ldquo;The credit for the brand name goes to the customers who used to frequent our roadside eatery those days,&rdquo; informs Chetan. Being a Brahmin and clad always in traditional daura-suruwal, the regular customers would refer to Dinanath Bhandari as &lsquo;Bahun Baje&rsquo; among themselves. And not too long in the future, people started calling the eatery as &lsquo;Bajeko Sekuwa&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Chetan&rsquo;s foray into the business too has an interesting twist to it. Even though he was involved in the business as part of the Bhandari family, the turning point came when his dad expressed his desire to have a break for a pilgrimage to India. An MBA graduate, Chetan was considering a career in the corporate world but this sudden development left him with managing the business on his own while his father was away. He says, &ldquo;Even before my father returned from his pilgrimage to India, I had made up my mind to manage the business and develop it into something bigger.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="bajeko Sekuwa" src="/userfiles/images/ss1%20(Copy).jpg" style="width: 550px; height: 294px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Chain Effect</strong></span></div>
<div>
	Bajeko Sekuwa opened its first outlet at Sinamangal area in the capital. The eatery chain has since opened outlets in Nayabazar, Sorhakhutte, Battisputali, Anamnagar and Gairidhara over the last 11 years or so. With the expansion of the enterprise came the branding part &ndash; the name, logo, color and the likes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	While Chetan acknowledges that the business came into being because of his father, he is largely credited for transforming the brand into a hugely popular name among the food lovers of Kathmandu. He approached the business in his inimitable style and made it count amongst the most successful restaurant chains in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bajeko Sekuwa chain of restaurants offers over a hundred selection of food including, most notably, different varieties of sekuwa. It also has unique offerings of fish and vegetable sekuwa that are loved by its patrons as much. Over 150 people have found employment with the company who serve more than 500 customers a day in addition to more than a dozen banquets each month at its sprawling Battisputali premises.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>How Times Change</strong></span></div>
<div>
	Chetan recalls that in the early days of Bajeko Sekuwa, he would find it difficult to open fresh outlets for lack of new location as well as business loans from banks. &ldquo;The scenario has completely reversed today. While home-owners approach me personally to lease out their properties, the banks are way more forthcoming with granting loans to my business,&rdquo; smiles Chetan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says that it doesn&rsquo;t matter what one chooses to do as long as s/he is focused about it. He adds, &ldquo;Anybody wanting to enter business must conduct research related to product and market, set targets and stay positive.&rdquo; The affable yet charismatic restaurateur in his 30s adds that risk-taking capacity is what brought him success and if one wants to make it big, there is no looking back, &ldquo;After all, we do business for money.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Bajeko Sekuwa" src="/userfiles/images/ss2%20(Copy).jpg" style="width: 550px; height: 335px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Cashing the Brand&nbsp;</strong></span></div>
<div>
	Having tasted unprecedented success, Bajeko Sekuwa is now looking to open new outlets in the Kathmandu Valley as well as outside of it. &ldquo;I am working at a franchise model for the business wherein aspiring entrepreneurs from across Nepal will have the opportunity to get associated with us,&rdquo; Chetan says. He adds that internationally too, there have been interests pouring in from entrepreneurs based in countries such as Qatar, Malaysia and Macau among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has also hired experts to help expand the business in every possible manner. &nbsp;Besides increasing its count on number of outlets, it plans to start selling ready-to-eat, frozen as well as ready-to-cook marinated sekuwa from its outlets and various department stores. The business is also mulling over launching &lsquo;Bajeko Masala&rsquo; (spices). &ldquo;The idea is to cash the brand name as much as possible and reach success levels that I had envisaged and was confident about even as a young student long time ago,&rdquo; Chetan concludes.</div>',
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			'description' => 'A father’s passion for cooking and his son’s entrepreneurial character have combined to shape ‘Bajeko Sekuwa’ as a well-liked brand to reckon over the years. The ever so popular eatery has been operating from half-a-dozen outlets in Kathmandu and has plans to launch many more.',
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			'id' => '2517',
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			'title' => 'Visual Edit Vol 4 Issue 4',
			'sub_title' => '',
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			'created' => '2014-01-27',
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			'description' => 'Visual Edit',
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			'title' => 'Creating A Strong South Asia',
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			'content' => '<div>
	<strong>--By Madhav Prasad Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asia is sitting on enormous wealth of resources of one sort or the other. The richness of the region in terms of human and natural resources, historical and cultural heritage and natural diversity is incomparable. The region is homogenous in terms of similar cultures, traditions, values and beliefs. Furthermore, in this era of interdependence and interconnectedness, we find our interests intersecting in many areas that should help foster the sense of partnership to achieve larger regional objectives.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is true that the activities of SAARC have been directed towards tapping the regional potentials. Various programmes and projects have been launched for common benefit. Trade liberalization, including elimination of para-tariff and non-tariff barriers, is in progress. Work is underway for concluding an agreement on investment promotion and protection in the region. SAARC has given emphasis on enhancing regional connectivity. A number of activities have been carried out in the field of promotion of tourism and people-to-people contacts. However, the pace is slow and progress is limited. Much remains to be done to change the socio-economic landscapes of the region.</div>
<div>
	&nbsp;</div>
<div>
	Despite our regional efforts to make South Asia a region of peace, prosperity and happiness, this region still faces varying challenges such as poverty, hunger, underdevelopment, trafficking of women and children, energy crisis, environmental degradation and so on. In fact, these challenges are not unique to South Asia alone; other regions also face them but they are more pronounced in our region.It is only through the concerted and collaborative efforts of all countries of South Asia that these challenges can best be addressed for the greater interest of the region. We need to mobilize requisite political will and redouble our efforts in this regard.</div>
<div>
	&nbsp;</div>
<div>
	The global economy has witnessed a tectonic shift with emergence of new growth poles in regions that were largely underdeveloped a few years ago. Consistent with this global trend, we must seriously think of making South Asia a vibrant region with emphasis laid on trade and investment. This will call for a number of enabling measures including elimination of intra-regional barriers, development of physical infrastructure to enhance regional connectivity and reduction of gap of energy shortage, among others. Some policy reforms may also be required to create South Asia as a whole an investment friendly region. While we aspire for deeper regional integration, opportunities for equitable sharing of benefits from such integration will have to be guaranteed with a view to providing a level-playing field to all members. This is because of different levels of resources endowment, productive capacity, industrialization and socio-economic development among SAARC member states.</div>
<div>
	&nbsp;</div>
<div>
	Our efforts to fight poverty require implementation of projects benefitting the common peoples through income generation and skill enhancement. Targeted, focused and dedicated economic and social measures are essential to lift people out of grinding poverty and hunger. Poverty eradication must remain at the core of all development policies, programmes and activities, as the broader goals of sustainable development cannot be achieved without eradicating poverty.</div>
<div>
	&nbsp;</div>
<div>
	Our focus should be to adopt such policy and programmes that could provide better education opportunities and health care services, widen job market and other opportunities, empower peoples, and strengthen national capacities in order to create a strong South Asia. Effective ways and means are required to address the adverse and disproportionate impact of climate change, which has emerged as one of the largest development challenges of our time. We also need concerted measures to fight against terrorism, trafficking in women, children and drugs and other transnational crimes that pose serious threat to the peace and stability of the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To find a secure place in a rapidly globalizing world characterized by the proliferation of regional groupings of varied speed and scale, we should gear our efforts towards developing collective competitiveness in the region, especially in the areas of economy, trade and investment. It can be achieved through greater regional economic integration and collective capacity building endeavours. For this, matters relating to trade, transport and infrastructure should be addressed on an urgent basis. Special emphasis should be accorded to the needs and concerns of the least-developed and land-locked members of the Association. Likewise, through the expansion of intra- and inter-regional trade backed by smooth, timely and effective implementation of SAFTA, the Association can work towards realizing the goal of establishing the South Asian Economic Union in the future.</div>
<div>
	&nbsp;</div>
<div>
	Economic growth and social progress should go hand in hand, as the one reinforces the other. Economic growth serves as the foundation of progress in other areas. It is essential to promote and sustain gains in social and human development. Likewise, social progress and human development help achieve faster economic growth on a sustainable basis. Delivering concrete results to the peoples in the region is essential to ensuring their ownership of the SAARC process. Clearly, this entails moving from the phase of making promises to actions. For this, we need first to think seriously what is doable and what is not, and then chart a pragmatic course of action that is in the interest of, and supported by, all members. We have spent considerable time and energy in establishing elaborate institutions and work programmes. As a result, both institutions and activities have proliferated over the years. Now the time has come to consolidate the gains and make a visible and qualitative difference in the operation&nbsp;</div>
<div>
	of SAARC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	SAARC is lagging behind other regional groupings both in terms of visibility and progress. We need to work hard to catch up to grasp the emerging opportunities at the global level. SAARC offers a vital tissue, connecting peoples in the region. Widely disseminating SAARC ideals and spirit across South Asian region is equally important to constantly nurture the SAARC process through people&rsquo;s positive response and commitment.Likewise, educational institutions in the region can inculcate young minds with a sense of togetherness under SAARC umbrella. In addition, greater mobility and exchange between South Asian peoples will help foster and nurture South Asian fraternity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Ghimire is the Minister for Home and Foreign Affairs of the Government of Nepal. The article is adapted from the keynote address he delivered at the inaugural session of the seminar on &ldquo;Bringing SAARC Closer to the People: A Nepalese Perspective,&rdquo; jointly organized by the Institute of Foreign Affairs and the SAARC Secretariat in Kathmandu on 20 January 2014.)&nbsp;</em></div>',
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			'title' => 'All Big Companies Should Go Public',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.</div>
<div>
	&nbsp;</div>
<div>
	There are many advantages for a company going public. The financial benefit in the form of raising capital is the most distinct advantage. Capital can be used to fund research and development, fund capital expenditure or even used to pay off existing debt. Another advantage is an increased public awareness of the company because IPOs often generate publicity by making their products known to a new group of potential customers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Still, MNCs like Dabur Nepal, Surya Nepal, Asian Paints etc are not listed at Nepse. The parent companies of these MNCs are, however, listed at the capital markets of their respective countries. Very few MNCs like Uniliver, Bottler&rsquo;s Nepal and Taragaon Regency Hotels are listed at the capital market. The MNCs operational in Nepal perhaps don&rsquo;t need to raise capital from the general public as their principals abroad have deep pockets.</div>
<div>
	&nbsp;</div>
<div>
	Besides MNCs, there are big companies run by the established business houses in the country that are reluctant to go public. These companies have not felt the need to issue IPO as their owners are often the promoters of banks and insurance companies. So, they can get loans from the banks and can also claim insurance comparatively easily.</div>
<div>
	&nbsp;</div>
<div>
	But raising capital is not the only reason why a company should go public. Public companies are expected to be more transparent as they have to abide by the rules and regulations of the regulator of the capital market which is the Securities Board of Nepal (SEBON) in our case. Public companies have to issue periodic financial reports and hold AGMs which means added disclosure for investors. These activities put pressure on public companies to be more transparent. Maintaining transparency enhances the public image of companies. There is no reason why a company should not try to become more transparent.</div>
<div>
	&nbsp;</div>
<div>
	Recently, the government has started preparations to make all telecommunications companies as public companies. This step by the government is welcome. So far, only the state-owned Nepal Telecom is a public company. Other telecom operators such as NCell, United Telecom, STM Telecom, Smart Telecom, Nepal Satellite etc are operating as private companies. The government wants all these existing companies to go public and has indicated that new entrants will be issued license only after they agree to become a public company.</div>
<div>
	&nbsp;</div>
<div>
	A committee formed to study cross holding in telecoms has already forwarded its suggestions to the government. According to the suggestions, the ceiling of cross holding in public companies should be restricted to 15 per cent. Similarly, the committee has suggested that the share of one person or group should not be more than 51 per cent. However, the committee has suggested that the current provision for a foreign investor to hold up to 80 percent of shares in a company should be given continuity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is a need to revise this provision, if not in the case of the existing companies then in the case of new companies where two or more foreign investors should be allowed to hold up to 80 per cent of shares. Such a policy would make sure that there two or more foreign investors in one company and if one of them wants to make an exit, any of the other companies can buy the shares.</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' => 'Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2514',
			'article_category_id' => '86',
			'title' => 'Work Experience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Two employees are having a conversation on work experience. One asks the other: &ldquo;How long have you been working here?&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Ever since the boss threatened to fire me!&rdquo; came &nbsp;the reply. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Two employees are having a conversation on work experience. One asks the other: “How long have you been working here?”',
			'sortorder' => '2358',
			'image' => null,
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	(int) 4 => array(
		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&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' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
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			'description' => 'The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
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			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
			'sortorder' => '2355',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</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' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
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			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
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			'id' => '2506',
			'article_category_id' => '138',
			'title' => 'Nepal's Rice Production To Increase: USDA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal&#39;s rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation&#39;s Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal&#39;s rice production to increase to 4.6 million tonnes last year. &nbsp;According to the UN agency, timely and sufficient monsoon downpour contributed to the country&#39;s rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>',
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			'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.',
			'sortorder' => '2352',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2503',
			'article_category_id' => '122',
			'title' => 'Vishal Group The Emerging FMCG Powerhouse',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Arpit Agrawal, Director, Vishal Group" src="/userfiles/images/sp2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 226px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<div>
								<strong>Arpit Agrawal</strong></div>
							<div>
								Director, Vishal Group</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Vishal Group&rsquo;s seeds were sown in Dharan. The first generation entrepreneurs from the Agrawal family had a textile shop there. When the family-owned textile business was passed onto the next generation, it took a shape of a manufacturing industrial house following their entry into steel manufacturing. The group has two steel factories in Biratnagar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Then the group moved into the financial service which was further diversified into imports and distribution. United Distributors Nepal Pvt Ltd, one of the flagship companies of the group has around 50 top brands of the world in its portfolio that it distributes across Nepal. Similarly, the group has involvement in the automobiles, financial services, real estate, education and manufacturing among other sectors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Diversification</strong></span></div>
<div>
	Arpit Agrawal, Director of Vishal Group says that it was the efforts of his grandfathers, uncles and his father who took the group to the next level. He says that their exposure to the international business practices and the ideas they brought into the company worked well for the success of their family owned business. Though the group started diversification with the manufacturing of steel, the business that is as strong as the steel now comprises of 40 per cent of the distribution business.</div>
<div>
	&nbsp;</div>
<div>
	The Agrawal family has divided the business among themselves on sector basis. &nbsp;Agrawal feels that it is the expertise of the entrepreneurs in the family that helped in the diversification decisions. Agrawal, one of the youngest entrepreneurs in the family adds, &ldquo;If I am given with a choice between manufacturing and distribution business, I would go for the distribution. Manufacturing sector has small and clustered market. The latter offers me scope for my personal as well as professional development. And, more importantly, I enjoy this particular sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	In the distribution sector, Vishal Group and its subsidiaries are authorised distributors for 50 different FMCG brands in personal care, food and beverages, electronics, liquor and medicines. When asked about the future concentration of the group, Agrawal says that Vishal Group wishes to be the number one FMCG powerhouse of the country. However, he hinted that the group will not completely abandon its manufacturing base.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Days Ahead</strong></span></div>
<div>
	Agrawal says that the future of the group looks promising in his vision. &ldquo;Trading sector is the future for Vishal Group. And, we are certain that we will be the number one FMCG powerhouse of Nepal,&rdquo; he envisions. He is also hopeful that this target may be achieved sooner than three years. Agrawal says that the group has a wide range of products including small products like a mouth freshener to a luxury car. He adds that the group wants to be one stop solution to all the consumer goods and he says there is a possibility of establishing a department store selling only products that range from potato chips to luxury cars, distributed by the Vishal Group.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Beating the Competition</strong></span></div>
<div>
	Vishal Group hardly feels the presence of its competitors. Though the group sells anything ranging from potato chips to cars, Agrawal says that the group hardly feels any competition. &ldquo;We are so much busy working that we don&rsquo;t get time to think a lot about competition. It is always nice to know what our competitors are doing but we don&rsquo;t really get affected by what they do. We just want to grow as a brand rather than getting involved in beating our competitors,&rdquo; he explains. Agrawal further says that arrogance affects the brand image and the group is not arrogant at all.</div>
<div>
	&nbsp;</div>
<div>
	To have a significant market share, the group has covered 35 cities and towns across the country. And, it has 60 distributors in those cities and towns. These distributors distribute the goods imported by the group and ensure that they reach the target customers at ease. Agrawal says that products dealt by the group are available in the smallest of the shops of smallest of the towns. He informed that there are more than 100 people working in the sales team of the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various products offered by the group have their own distinct target markets from general public to premium niche clients. According to Agrawal, products of Procter &amp; Gamble on personal care segment has 35 per cent market share while chocolate brands like Mars and Snickers control about 40 per cent market. Similarly, Volkswagen targeted at premium customers has around 10 to 15 per cent market share in its class. Likewise, he adds that the recently introduced Royce energy drink aims to acquire the number two position, after Red Bull within a year.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Vishal Group Nepal" src="/userfiles/images/sp1%20(Copy).jpg" style="width: 550px; height: 196px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Unique Management Practices</strong></span></div>
<div>
	Vishal Group is designing one of its own kinds of offices in Nepal, says Agrawal. He adds that the working space is being modernised replicating the style of leading MNCs of the world. Agrawal says that in MNCs everyone sits in the same table, be it the highest ranking official or a junior employee, and this pattern is being incorporated at the Vishal Group&rsquo;s corporate office.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, he says that directors of the group prefer working in the workstation rather than at their private cabins so that employees could have easy access to them. &ldquo;We don&rsquo;t want our employees whom we call our associates feel that we are superior to them. We want to be very accessible. And, when I am working at the workstation, anyone can easily meet me anytime,&rdquo; explains Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;When we grow as a brand and a group, we call our employees our associates. We want them to grow not only financially but also professionally and personally along with the group,&rdquo; Agrawal shares. To ensure the employees develop a sense of belonging towards the company, the group has introduced various motivational packages. One of them is that the employees are allowed to take a half day leave to go to the movies every two months. Likewise, weekly off-work programmes are conducted at the office. The group has 2000 happy employees in all of its companies.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<span style="font-size:16px;"><strong>Awards and Recognition</strong></span></div>
						<div>
							&nbsp;Vishal Group has been recognised as the highest taxpayer in 2010 by the government. United Distributors Nepal Pvt Ltd, one of the subsidiaries of group was awarded the Highest Tax Payer of Nepal in the foreign trade category. Similarly, the group&rsquo;s quality commitment has awarded it with the much coveted &lsquo;NS Quality Award 2002&rsquo; given to Mainawati Steel Industries Pvt Ltd. The group claims that it is the first industrial unit to obtain &lsquo;ISO 9002&rsquo; certification under the cables segment. Similarly, Nepal Industrial and Commercial Bank, one of the subsidiaries of the group was conferred with &lsquo;Commercially Important Person 2002&rsquo; award.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:16px;">CSR Initiatives</span></strong></div>
						<div>
							Vishal Group believes in responsible business practices. The corporate social responsibilities (CSR) activities of the group are guided by the philosophy that the group must also give back to the society when it keeps growing larger. The group is involved in a number of social and community projects contributing generously and responsibly. For this purpose, the group runs Gordhandass Kamalawati Paropkari Pratisthan, named after the group&rsquo;s founder and his wife. The trust funds various charitable organisations and activities related to education.</div>
						<div>
							&nbsp;</div>
						<div>
							Similarly, Agrasen Bhawan, based in Dharan is a community centre constructed on the land donated by the group. This centre offers food and accommodation services at a highly subsidised price to those travelling to Dharan. The centre also has meeting halls that are being used for community activities and events.</div>
						<div>
							&nbsp;</div>
						<div>
							Likewise, the group supports various humanitarian causes for the welfare of the needy people in the society. It has been providing monetary and other basic materials like clothes to orphans and needy families in various parts of the country. The group adopts three orphan children each year and sponsors their education and also donates prosthetic limbs to disabled people.</div>
						<div>
							&nbsp;</div>
						<div>
							<span style="font-size:16px;"><strong>Some Brands Distributed by Vishal Group</strong></span></div>
						<div>
							<span style="font-size:16px;"><strong><img alt="" src="/userfiles/images/sp%20(Copy).jpg" style="width: 550px; height: 1473px;" /></strong></span></div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-26',
			'modified' => '2014-02-09',
			'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' => 'Vishal Group is working with a vision to establish itself as a fast moving consumer goods (FMCG) powerhouse of Nepal within three years.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2507',
			'article_category_id' => '138',
			'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Philanthropists Bill and Melinda Gates are optimistic about the future of the world&rsquo;s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that&rsquo;s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. &quot;All three reflect a dim view of the future, one that says the world isn&#39;t improving but staying poor and sick, and getting overcrowded,&quot; Bill Gates writes in the 16-page letter. &quot;We&#39;re going to make the opposite case, that the world is getting better, and that in two decades it will be better still.&quot; Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world&#39;s most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it&#39;s less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. &nbsp;His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries &mdash; that they&#39;re plagued by natural disasters, political instability and corruption &mdash; have prevented people from understanding how much progress has been made.</div>',
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			'created' => '2014-01-27',
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			'description' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2465',
			'article_category_id' => '138',
			'title' => 'Nepal Falls In Economic Freedom Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<div>
		Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the &lsquo;Mostly Unfree&rsquo; group. &nbsp;Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. &ldquo;Nepal&rsquo;s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption&hellip;its score remains far below world and regional averages&rdquo; informed the report. According to the report, this year&rsquo;s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. &ldquo;Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,&rdquo; the report said. &nbsp;Considered as a &ldquo;mostly unfree&rdquo; economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of &lsquo;moderately free&rsquo; economy. China, the world&rsquo;s second largest and Asia&rsquo;s biggest economy, ranked 139th.</div>
	<div>
		&nbsp;</div>
	<div>
		Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world&rsquo;s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div>
</div>
<p>
	&nbsp;</p>',
			'published' => true,
			'created' => '2014-01-20',
			'modified' => '2014-01-27',
			'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 has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the ‘Mostly Unfree’ group.  Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2500',
			'article_category_id' => '51',
			'title' => 'Biztoon / Voices January 2014',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Dr Kamal Raj Dhungel" src="/userfiles/images/krd%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;Government is suppressing private sector&rsquo;s growth.&rdquo;</strong></span></div>
<div>
	Dr Kamal Raj Dhungel, Professor at Central Department of Economics, Tribhuvan University alleging that the government has not done enough for the growth of the private sector. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Ichchha Raj Tamang," src="/userfiles/images/irt%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;The government must allow to sell apartments to foreigners too.&rdquo;&nbsp;</strong></span></div>
<div>
	Ichchha Raj Tamang, President of Nepal Land and Housing Developers&rsquo; Association advocating the need to sell apartments to foreigners to give a boost to housing industry.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Barsha Man Pun" src="/userfiles/images/bmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 94px;" />&ldquo;We won&rsquo;t distress the economy by organising bandhs.&rdquo;</strong></span></div>
<div>
	Barsha Man Pun, Former Finance Minister and UCPN Maoist Leader promising that his party will not be organising any general strikes and closures that will affect the economy.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Leela Mani Paudyal" src="/userfiles/images/lmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 98px;" />&ldquo;Industrialists must be responsible to the society.&rdquo;</strong></span></div>
<div>
	Leela Mani Paudyal, Chief Secretary, asking entrepreneurs to be accountable and responsible to the society and people.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Prof Dr Bishwambher Pyakuryal" src="/userfiles/images/dbp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; height: 98px; width: 80px;" />&ldquo;The economy faces the danger of macro-economic shocks.&rdquo;</strong></span></div>
<div>
	Prof Dr Bishwambher Pyakuryal, Senior Economist predicting what may happen to the economy because of large amount of money injected into the system during second Constituent Assembly Elections.</div>',
			'published' => true,
			'created' => '2014-01-26',
			'modified' => '2014-01-27',
			'keywords' => 'new business age biztoon or voices news & articles, biztoon or voices news & articles from new business age nepal, biztoon or voices headlines from nepal,  current and latest biztoon or voices news from nepal, economic news from nepal, nepali biztoon or voices economic news and events,  ongoing bizt',
			'description' => '“Government is suppressing private sector’s growth.”',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2498',
			'article_category_id' => '211',
			'title' => 'Bajeko Sekuwa',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Pinaki Roy</strong></div>
<div>
	&nbsp;</div>
<div>
	Started with an initial investment of Rs 600 over a quarter-of-a-century ago, &lsquo;Bajeko Sekuwa&rsquo; chain of restaurants has come a long way. &ldquo;Presently, our annual turnover well exceeds Rs 100 million,&rdquo; says its Chairman Chetan Bhandari.</div>
<div>
	&nbsp;</div>
<div>
	The enterprise came into being as an endeavour of his father Dinanath Bhandari who was passionate about cooking. During festivals and celebrations, family members and friends in his village would ask him to make Sekuwa (skewered barbecued meat). He would willingly do so and cherish their compliments on being a good cook.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After migrating to the capital, Senior Bhandari started a small eatery close to the Tribhuvan International Airport. It so happened that while on a visit to the airport, he noticed people selling different kind of food around the area. He observed that the airport served as a workplace for many people, including the services personnel, employees of Nepal Airlines Corporation, customs officials etc. It struck him that if he could put up a food joint there, decent footfall was almost a certainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Brand Name</strong></span></div>
<div>
	Many wonder where the eatery got its name from. When Bhandari ventured into selling sekuwa, he did not have a proper shop let alone having a name for identification. &ldquo;The credit for the brand name goes to the customers who used to frequent our roadside eatery those days,&rdquo; informs Chetan. Being a Brahmin and clad always in traditional daura-suruwal, the regular customers would refer to Dinanath Bhandari as &lsquo;Bahun Baje&rsquo; among themselves. And not too long in the future, people started calling the eatery as &lsquo;Bajeko Sekuwa&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Chetan&rsquo;s foray into the business too has an interesting twist to it. Even though he was involved in the business as part of the Bhandari family, the turning point came when his dad expressed his desire to have a break for a pilgrimage to India. An MBA graduate, Chetan was considering a career in the corporate world but this sudden development left him with managing the business on his own while his father was away. He says, &ldquo;Even before my father returned from his pilgrimage to India, I had made up my mind to manage the business and develop it into something bigger.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="bajeko Sekuwa" src="/userfiles/images/ss1%20(Copy).jpg" style="width: 550px; height: 294px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Chain Effect</strong></span></div>
<div>
	Bajeko Sekuwa opened its first outlet at Sinamangal area in the capital. The eatery chain has since opened outlets in Nayabazar, Sorhakhutte, Battisputali, Anamnagar and Gairidhara over the last 11 years or so. With the expansion of the enterprise came the branding part &ndash; the name, logo, color and the likes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	While Chetan acknowledges that the business came into being because of his father, he is largely credited for transforming the brand into a hugely popular name among the food lovers of Kathmandu. He approached the business in his inimitable style and made it count amongst the most successful restaurant chains in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bajeko Sekuwa chain of restaurants offers over a hundred selection of food including, most notably, different varieties of sekuwa. It also has unique offerings of fish and vegetable sekuwa that are loved by its patrons as much. Over 150 people have found employment with the company who serve more than 500 customers a day in addition to more than a dozen banquets each month at its sprawling Battisputali premises.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>How Times Change</strong></span></div>
<div>
	Chetan recalls that in the early days of Bajeko Sekuwa, he would find it difficult to open fresh outlets for lack of new location as well as business loans from banks. &ldquo;The scenario has completely reversed today. While home-owners approach me personally to lease out their properties, the banks are way more forthcoming with granting loans to my business,&rdquo; smiles Chetan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says that it doesn&rsquo;t matter what one chooses to do as long as s/he is focused about it. He adds, &ldquo;Anybody wanting to enter business must conduct research related to product and market, set targets and stay positive.&rdquo; The affable yet charismatic restaurateur in his 30s adds that risk-taking capacity is what brought him success and if one wants to make it big, there is no looking back, &ldquo;After all, we do business for money.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Bajeko Sekuwa" src="/userfiles/images/ss2%20(Copy).jpg" style="width: 550px; height: 335px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Cashing the Brand&nbsp;</strong></span></div>
<div>
	Having tasted unprecedented success, Bajeko Sekuwa is now looking to open new outlets in the Kathmandu Valley as well as outside of it. &ldquo;I am working at a franchise model for the business wherein aspiring entrepreneurs from across Nepal will have the opportunity to get associated with us,&rdquo; Chetan says. He adds that internationally too, there have been interests pouring in from entrepreneurs based in countries such as Qatar, Malaysia and Macau among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has also hired experts to help expand the business in every possible manner. &nbsp;Besides increasing its count on number of outlets, it plans to start selling ready-to-eat, frozen as well as ready-to-cook marinated sekuwa from its outlets and various department stores. The business is also mulling over launching &lsquo;Bajeko Masala&rsquo; (spices). &ldquo;The idea is to cash the brand name as much as possible and reach success levels that I had envisaged and was confident about even as a young student long time ago,&rdquo; Chetan concludes.</div>',
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			'description' => 'A father’s passion for cooking and his son’s entrepreneurial character have combined to shape ‘Bajeko Sekuwa’ as a well-liked brand to reckon over the years. The ever so popular eatery has been operating from half-a-dozen outlets in Kathmandu and has plans to launch many more.',
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			'id' => '2517',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 4 Issue 4',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
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			'description' => 'Visual Edit',
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			'title' => 'Creating A Strong South Asia',
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			'summary' => null,
			'content' => '<div>
	<strong>--By Madhav Prasad Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asia is sitting on enormous wealth of resources of one sort or the other. The richness of the region in terms of human and natural resources, historical and cultural heritage and natural diversity is incomparable. The region is homogenous in terms of similar cultures, traditions, values and beliefs. Furthermore, in this era of interdependence and interconnectedness, we find our interests intersecting in many areas that should help foster the sense of partnership to achieve larger regional objectives.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is true that the activities of SAARC have been directed towards tapping the regional potentials. Various programmes and projects have been launched for common benefit. Trade liberalization, including elimination of para-tariff and non-tariff barriers, is in progress. Work is underway for concluding an agreement on investment promotion and protection in the region. SAARC has given emphasis on enhancing regional connectivity. A number of activities have been carried out in the field of promotion of tourism and people-to-people contacts. However, the pace is slow and progress is limited. Much remains to be done to change the socio-economic landscapes of the region.</div>
<div>
	&nbsp;</div>
<div>
	Despite our regional efforts to make South Asia a region of peace, prosperity and happiness, this region still faces varying challenges such as poverty, hunger, underdevelopment, trafficking of women and children, energy crisis, environmental degradation and so on. In fact, these challenges are not unique to South Asia alone; other regions also face them but they are more pronounced in our region.It is only through the concerted and collaborative efforts of all countries of South Asia that these challenges can best be addressed for the greater interest of the region. We need to mobilize requisite political will and redouble our efforts in this regard.</div>
<div>
	&nbsp;</div>
<div>
	The global economy has witnessed a tectonic shift with emergence of new growth poles in regions that were largely underdeveloped a few years ago. Consistent with this global trend, we must seriously think of making South Asia a vibrant region with emphasis laid on trade and investment. This will call for a number of enabling measures including elimination of intra-regional barriers, development of physical infrastructure to enhance regional connectivity and reduction of gap of energy shortage, among others. Some policy reforms may also be required to create South Asia as a whole an investment friendly region. While we aspire for deeper regional integration, opportunities for equitable sharing of benefits from such integration will have to be guaranteed with a view to providing a level-playing field to all members. This is because of different levels of resources endowment, productive capacity, industrialization and socio-economic development among SAARC member states.</div>
<div>
	&nbsp;</div>
<div>
	Our efforts to fight poverty require implementation of projects benefitting the common peoples through income generation and skill enhancement. Targeted, focused and dedicated economic and social measures are essential to lift people out of grinding poverty and hunger. Poverty eradication must remain at the core of all development policies, programmes and activities, as the broader goals of sustainable development cannot be achieved without eradicating poverty.</div>
<div>
	&nbsp;</div>
<div>
	Our focus should be to adopt such policy and programmes that could provide better education opportunities and health care services, widen job market and other opportunities, empower peoples, and strengthen national capacities in order to create a strong South Asia. Effective ways and means are required to address the adverse and disproportionate impact of climate change, which has emerged as one of the largest development challenges of our time. We also need concerted measures to fight against terrorism, trafficking in women, children and drugs and other transnational crimes that pose serious threat to the peace and stability of the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To find a secure place in a rapidly globalizing world characterized by the proliferation of regional groupings of varied speed and scale, we should gear our efforts towards developing collective competitiveness in the region, especially in the areas of economy, trade and investment. It can be achieved through greater regional economic integration and collective capacity building endeavours. For this, matters relating to trade, transport and infrastructure should be addressed on an urgent basis. Special emphasis should be accorded to the needs and concerns of the least-developed and land-locked members of the Association. Likewise, through the expansion of intra- and inter-regional trade backed by smooth, timely and effective implementation of SAFTA, the Association can work towards realizing the goal of establishing the South Asian Economic Union in the future.</div>
<div>
	&nbsp;</div>
<div>
	Economic growth and social progress should go hand in hand, as the one reinforces the other. Economic growth serves as the foundation of progress in other areas. It is essential to promote and sustain gains in social and human development. Likewise, social progress and human development help achieve faster economic growth on a sustainable basis. Delivering concrete results to the peoples in the region is essential to ensuring their ownership of the SAARC process. Clearly, this entails moving from the phase of making promises to actions. For this, we need first to think seriously what is doable and what is not, and then chart a pragmatic course of action that is in the interest of, and supported by, all members. We have spent considerable time and energy in establishing elaborate institutions and work programmes. As a result, both institutions and activities have proliferated over the years. Now the time has come to consolidate the gains and make a visible and qualitative difference in the operation&nbsp;</div>
<div>
	of SAARC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	SAARC is lagging behind other regional groupings both in terms of visibility and progress. We need to work hard to catch up to grasp the emerging opportunities at the global level. SAARC offers a vital tissue, connecting peoples in the region. Widely disseminating SAARC ideals and spirit across South Asian region is equally important to constantly nurture the SAARC process through people&rsquo;s positive response and commitment.Likewise, educational institutions in the region can inculcate young minds with a sense of togetherness under SAARC umbrella. In addition, greater mobility and exchange between South Asian peoples will help foster and nurture South Asian fraternity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Ghimire is the Minister for Home and Foreign Affairs of the Government of Nepal. The article is adapted from the keynote address he delivered at the inaugural session of the seminar on &ldquo;Bringing SAARC Closer to the People: A Nepalese Perspective,&rdquo; jointly organized by the Institute of Foreign Affairs and the SAARC Secretariat in Kathmandu on 20 January 2014.)&nbsp;</em></div>',
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			'description' => 'South Asia is sitting on enormous wealth of resources of one sort or the other. The richness of the region in terms of human and natural resources, historical and cultural heritage and natural diversity is incomparable. The region is homogenous in terms of similar cultures, traditions, values and beliefs.',
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			'id' => '2516',
			'article_category_id' => '144',
			'title' => 'All Big Companies Should Go Public',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.</div>
<div>
	&nbsp;</div>
<div>
	There are many advantages for a company going public. The financial benefit in the form of raising capital is the most distinct advantage. Capital can be used to fund research and development, fund capital expenditure or even used to pay off existing debt. Another advantage is an increased public awareness of the company because IPOs often generate publicity by making their products known to a new group of potential customers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Still, MNCs like Dabur Nepal, Surya Nepal, Asian Paints etc are not listed at Nepse. The parent companies of these MNCs are, however, listed at the capital markets of their respective countries. Very few MNCs like Uniliver, Bottler&rsquo;s Nepal and Taragaon Regency Hotels are listed at the capital market. The MNCs operational in Nepal perhaps don&rsquo;t need to raise capital from the general public as their principals abroad have deep pockets.</div>
<div>
	&nbsp;</div>
<div>
	Besides MNCs, there are big companies run by the established business houses in the country that are reluctant to go public. These companies have not felt the need to issue IPO as their owners are often the promoters of banks and insurance companies. So, they can get loans from the banks and can also claim insurance comparatively easily.</div>
<div>
	&nbsp;</div>
<div>
	But raising capital is not the only reason why a company should go public. Public companies are expected to be more transparent as they have to abide by the rules and regulations of the regulator of the capital market which is the Securities Board of Nepal (SEBON) in our case. Public companies have to issue periodic financial reports and hold AGMs which means added disclosure for investors. These activities put pressure on public companies to be more transparent. Maintaining transparency enhances the public image of companies. There is no reason why a company should not try to become more transparent.</div>
<div>
	&nbsp;</div>
<div>
	Recently, the government has started preparations to make all telecommunications companies as public companies. This step by the government is welcome. So far, only the state-owned Nepal Telecom is a public company. Other telecom operators such as NCell, United Telecom, STM Telecom, Smart Telecom, Nepal Satellite etc are operating as private companies. The government wants all these existing companies to go public and has indicated that new entrants will be issued license only after they agree to become a public company.</div>
<div>
	&nbsp;</div>
<div>
	A committee formed to study cross holding in telecoms has already forwarded its suggestions to the government. According to the suggestions, the ceiling of cross holding in public companies should be restricted to 15 per cent. Similarly, the committee has suggested that the share of one person or group should not be more than 51 per cent. However, the committee has suggested that the current provision for a foreign investor to hold up to 80 percent of shares in a company should be given continuity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is a need to revise this provision, if not in the case of the existing companies then in the case of new companies where two or more foreign investors should be allowed to hold up to 80 per cent of shares. Such a policy would make sure that there two or more foreign investors in one company and if one of them wants to make an exit, any of the other companies can buy the shares.</div>',
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			'description' => 'Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.',
			'sortorder' => '2359',
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			'id' => '2514',
			'article_category_id' => '86',
			'title' => 'Work Experience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Two employees are having a conversation on work experience. One asks the other: &ldquo;How long have you been working here?&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Ever since the boss threatened to fire me!&rdquo; came &nbsp;the reply. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Two employees are having a conversation on work experience. One asks the other: “How long have you been working here?”',
			'sortorder' => '2358',
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			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
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			'created' => '2014-01-27',
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			'description' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
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			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
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			'description' => 'The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
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			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
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			'description' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
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		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
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			'description' => 'The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
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		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
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			'description' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2506',
			'article_category_id' => '138',
			'title' => 'Nepal's Rice Production To Increase: USDA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal&#39;s rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation&#39;s Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal&#39;s rice production to increase to 4.6 million tonnes last year. &nbsp;According to the UN agency, timely and sufficient monsoon downpour contributed to the country&#39;s rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>',
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			'description' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.',
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		'Article' => array(
			'id' => '2503',
			'article_category_id' => '122',
			'title' => 'Vishal Group The Emerging FMCG Powerhouse',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Arpit Agrawal, Director, Vishal Group" src="/userfiles/images/sp2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 226px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<div>
								<strong>Arpit Agrawal</strong></div>
							<div>
								Director, Vishal Group</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Vishal Group&rsquo;s seeds were sown in Dharan. The first generation entrepreneurs from the Agrawal family had a textile shop there. When the family-owned textile business was passed onto the next generation, it took a shape of a manufacturing industrial house following their entry into steel manufacturing. The group has two steel factories in Biratnagar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Then the group moved into the financial service which was further diversified into imports and distribution. United Distributors Nepal Pvt Ltd, one of the flagship companies of the group has around 50 top brands of the world in its portfolio that it distributes across Nepal. Similarly, the group has involvement in the automobiles, financial services, real estate, education and manufacturing among other sectors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Diversification</strong></span></div>
<div>
	Arpit Agrawal, Director of Vishal Group says that it was the efforts of his grandfathers, uncles and his father who took the group to the next level. He says that their exposure to the international business practices and the ideas they brought into the company worked well for the success of their family owned business. Though the group started diversification with the manufacturing of steel, the business that is as strong as the steel now comprises of 40 per cent of the distribution business.</div>
<div>
	&nbsp;</div>
<div>
	The Agrawal family has divided the business among themselves on sector basis. &nbsp;Agrawal feels that it is the expertise of the entrepreneurs in the family that helped in the diversification decisions. Agrawal, one of the youngest entrepreneurs in the family adds, &ldquo;If I am given with a choice between manufacturing and distribution business, I would go for the distribution. Manufacturing sector has small and clustered market. The latter offers me scope for my personal as well as professional development. And, more importantly, I enjoy this particular sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	In the distribution sector, Vishal Group and its subsidiaries are authorised distributors for 50 different FMCG brands in personal care, food and beverages, electronics, liquor and medicines. When asked about the future concentration of the group, Agrawal says that Vishal Group wishes to be the number one FMCG powerhouse of the country. However, he hinted that the group will not completely abandon its manufacturing base.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Days Ahead</strong></span></div>
<div>
	Agrawal says that the future of the group looks promising in his vision. &ldquo;Trading sector is the future for Vishal Group. And, we are certain that we will be the number one FMCG powerhouse of Nepal,&rdquo; he envisions. He is also hopeful that this target may be achieved sooner than three years. Agrawal says that the group has a wide range of products including small products like a mouth freshener to a luxury car. He adds that the group wants to be one stop solution to all the consumer goods and he says there is a possibility of establishing a department store selling only products that range from potato chips to luxury cars, distributed by the Vishal Group.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Beating the Competition</strong></span></div>
<div>
	Vishal Group hardly feels the presence of its competitors. Though the group sells anything ranging from potato chips to cars, Agrawal says that the group hardly feels any competition. &ldquo;We are so much busy working that we don&rsquo;t get time to think a lot about competition. It is always nice to know what our competitors are doing but we don&rsquo;t really get affected by what they do. We just want to grow as a brand rather than getting involved in beating our competitors,&rdquo; he explains. Agrawal further says that arrogance affects the brand image and the group is not arrogant at all.</div>
<div>
	&nbsp;</div>
<div>
	To have a significant market share, the group has covered 35 cities and towns across the country. And, it has 60 distributors in those cities and towns. These distributors distribute the goods imported by the group and ensure that they reach the target customers at ease. Agrawal says that products dealt by the group are available in the smallest of the shops of smallest of the towns. He informed that there are more than 100 people working in the sales team of the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various products offered by the group have their own distinct target markets from general public to premium niche clients. According to Agrawal, products of Procter &amp; Gamble on personal care segment has 35 per cent market share while chocolate brands like Mars and Snickers control about 40 per cent market. Similarly, Volkswagen targeted at premium customers has around 10 to 15 per cent market share in its class. Likewise, he adds that the recently introduced Royce energy drink aims to acquire the number two position, after Red Bull within a year.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Vishal Group Nepal" src="/userfiles/images/sp1%20(Copy).jpg" style="width: 550px; height: 196px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Unique Management Practices</strong></span></div>
<div>
	Vishal Group is designing one of its own kinds of offices in Nepal, says Agrawal. He adds that the working space is being modernised replicating the style of leading MNCs of the world. Agrawal says that in MNCs everyone sits in the same table, be it the highest ranking official or a junior employee, and this pattern is being incorporated at the Vishal Group&rsquo;s corporate office.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, he says that directors of the group prefer working in the workstation rather than at their private cabins so that employees could have easy access to them. &ldquo;We don&rsquo;t want our employees whom we call our associates feel that we are superior to them. We want to be very accessible. And, when I am working at the workstation, anyone can easily meet me anytime,&rdquo; explains Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;When we grow as a brand and a group, we call our employees our associates. We want them to grow not only financially but also professionally and personally along with the group,&rdquo; Agrawal shares. To ensure the employees develop a sense of belonging towards the company, the group has introduced various motivational packages. One of them is that the employees are allowed to take a half day leave to go to the movies every two months. Likewise, weekly off-work programmes are conducted at the office. The group has 2000 happy employees in all of its companies.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<span style="font-size:16px;"><strong>Awards and Recognition</strong></span></div>
						<div>
							&nbsp;Vishal Group has been recognised as the highest taxpayer in 2010 by the government. United Distributors Nepal Pvt Ltd, one of the subsidiaries of group was awarded the Highest Tax Payer of Nepal in the foreign trade category. Similarly, the group&rsquo;s quality commitment has awarded it with the much coveted &lsquo;NS Quality Award 2002&rsquo; given to Mainawati Steel Industries Pvt Ltd. The group claims that it is the first industrial unit to obtain &lsquo;ISO 9002&rsquo; certification under the cables segment. Similarly, Nepal Industrial and Commercial Bank, one of the subsidiaries of the group was conferred with &lsquo;Commercially Important Person 2002&rsquo; award.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:16px;">CSR Initiatives</span></strong></div>
						<div>
							Vishal Group believes in responsible business practices. The corporate social responsibilities (CSR) activities of the group are guided by the philosophy that the group must also give back to the society when it keeps growing larger. The group is involved in a number of social and community projects contributing generously and responsibly. For this purpose, the group runs Gordhandass Kamalawati Paropkari Pratisthan, named after the group&rsquo;s founder and his wife. The trust funds various charitable organisations and activities related to education.</div>
						<div>
							&nbsp;</div>
						<div>
							Similarly, Agrasen Bhawan, based in Dharan is a community centre constructed on the land donated by the group. This centre offers food and accommodation services at a highly subsidised price to those travelling to Dharan. The centre also has meeting halls that are being used for community activities and events.</div>
						<div>
							&nbsp;</div>
						<div>
							Likewise, the group supports various humanitarian causes for the welfare of the needy people in the society. It has been providing monetary and other basic materials like clothes to orphans and needy families in various parts of the country. The group adopts three orphan children each year and sponsors their education and also donates prosthetic limbs to disabled people.</div>
						<div>
							&nbsp;</div>
						<div>
							<span style="font-size:16px;"><strong>Some Brands Distributed by Vishal Group</strong></span></div>
						<div>
							<span style="font-size:16px;"><strong><img alt="" src="/userfiles/images/sp%20(Copy).jpg" style="width: 550px; height: 1473px;" /></strong></span></div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>',
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		'Article' => array(
			'id' => '2507',
			'article_category_id' => '138',
			'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Philanthropists Bill and Melinda Gates are optimistic about the future of the world&rsquo;s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that&rsquo;s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. &quot;All three reflect a dim view of the future, one that says the world isn&#39;t improving but staying poor and sick, and getting overcrowded,&quot; Bill Gates writes in the 16-page letter. &quot;We&#39;re going to make the opposite case, that the world is getting better, and that in two decades it will be better still.&quot; Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world&#39;s most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it&#39;s less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. &nbsp;His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries &mdash; that they&#39;re plagued by natural disasters, political instability and corruption &mdash; have prevented people from understanding how much progress has been made.</div>',
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			'description' => 'Philanthropists Bill and Melinda Gates are optimistic about the future of the world’s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that’s not true and predicts that by 2035, there will be almost no poor countries left in the world.',
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			'title' => 'Nepal Falls In Economic Freedom Ranking',
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	&nbsp;</div>
<div>
	<div>
		Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the &lsquo;Mostly Unfree&rsquo; group. &nbsp;Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. &ldquo;Nepal&rsquo;s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption&hellip;its score remains far below world and regional averages&rdquo; informed the report. According to the report, this year&rsquo;s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. &ldquo;Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,&rdquo; the report said. &nbsp;Considered as a &ldquo;mostly unfree&rdquo; economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of &lsquo;moderately free&rsquo; economy. China, the world&rsquo;s second largest and Asia&rsquo;s biggest economy, ranked 139th.</div>
	<div>
		&nbsp;</div>
	<div>
		Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world&rsquo;s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div>
</div>
<p>
	&nbsp;</p>',
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			'title' => 'Biztoon / Voices January 2014',
			'sub_title' => '',
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			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Dr Kamal Raj Dhungel" src="/userfiles/images/krd%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;Government is suppressing private sector&rsquo;s growth.&rdquo;</strong></span></div>
<div>
	Dr Kamal Raj Dhungel, Professor at Central Department of Economics, Tribhuvan University alleging that the government has not done enough for the growth of the private sector. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Ichchha Raj Tamang," src="/userfiles/images/irt%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;The government must allow to sell apartments to foreigners too.&rdquo;&nbsp;</strong></span></div>
<div>
	Ichchha Raj Tamang, President of Nepal Land and Housing Developers&rsquo; Association advocating the need to sell apartments to foreigners to give a boost to housing industry.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Barsha Man Pun" src="/userfiles/images/bmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 94px;" />&ldquo;We won&rsquo;t distress the economy by organising bandhs.&rdquo;</strong></span></div>
<div>
	Barsha Man Pun, Former Finance Minister and UCPN Maoist Leader promising that his party will not be organising any general strikes and closures that will affect the economy.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Leela Mani Paudyal" src="/userfiles/images/lmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 98px;" />&ldquo;Industrialists must be responsible to the society.&rdquo;</strong></span></div>
<div>
	Leela Mani Paudyal, Chief Secretary, asking entrepreneurs to be accountable and responsible to the society and people.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Prof Dr Bishwambher Pyakuryal" src="/userfiles/images/dbp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; height: 98px; width: 80px;" />&ldquo;The economy faces the danger of macro-economic shocks.&rdquo;</strong></span></div>
<div>
	Prof Dr Bishwambher Pyakuryal, Senior Economist predicting what may happen to the economy because of large amount of money injected into the system during second Constituent Assembly Elections.</div>',
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			'title' => 'Bajeko Sekuwa',
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	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Pinaki Roy</strong></div>
<div>
	&nbsp;</div>
<div>
	Started with an initial investment of Rs 600 over a quarter-of-a-century ago, &lsquo;Bajeko Sekuwa&rsquo; chain of restaurants has come a long way. &ldquo;Presently, our annual turnover well exceeds Rs 100 million,&rdquo; says its Chairman Chetan Bhandari.</div>
<div>
	&nbsp;</div>
<div>
	The enterprise came into being as an endeavour of his father Dinanath Bhandari who was passionate about cooking. During festivals and celebrations, family members and friends in his village would ask him to make Sekuwa (skewered barbecued meat). He would willingly do so and cherish their compliments on being a good cook.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After migrating to the capital, Senior Bhandari started a small eatery close to the Tribhuvan International Airport. It so happened that while on a visit to the airport, he noticed people selling different kind of food around the area. He observed that the airport served as a workplace for many people, including the services personnel, employees of Nepal Airlines Corporation, customs officials etc. It struck him that if he could put up a food joint there, decent footfall was almost a certainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Brand Name</strong></span></div>
<div>
	Many wonder where the eatery got its name from. When Bhandari ventured into selling sekuwa, he did not have a proper shop let alone having a name for identification. &ldquo;The credit for the brand name goes to the customers who used to frequent our roadside eatery those days,&rdquo; informs Chetan. Being a Brahmin and clad always in traditional daura-suruwal, the regular customers would refer to Dinanath Bhandari as &lsquo;Bahun Baje&rsquo; among themselves. And not too long in the future, people started calling the eatery as &lsquo;Bajeko Sekuwa&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Chetan&rsquo;s foray into the business too has an interesting twist to it. Even though he was involved in the business as part of the Bhandari family, the turning point came when his dad expressed his desire to have a break for a pilgrimage to India. An MBA graduate, Chetan was considering a career in the corporate world but this sudden development left him with managing the business on his own while his father was away. He says, &ldquo;Even before my father returned from his pilgrimage to India, I had made up my mind to manage the business and develop it into something bigger.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="bajeko Sekuwa" src="/userfiles/images/ss1%20(Copy).jpg" style="width: 550px; height: 294px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Chain Effect</strong></span></div>
<div>
	Bajeko Sekuwa opened its first outlet at Sinamangal area in the capital. The eatery chain has since opened outlets in Nayabazar, Sorhakhutte, Battisputali, Anamnagar and Gairidhara over the last 11 years or so. With the expansion of the enterprise came the branding part &ndash; the name, logo, color and the likes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	While Chetan acknowledges that the business came into being because of his father, he is largely credited for transforming the brand into a hugely popular name among the food lovers of Kathmandu. He approached the business in his inimitable style and made it count amongst the most successful restaurant chains in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bajeko Sekuwa chain of restaurants offers over a hundred selection of food including, most notably, different varieties of sekuwa. It also has unique offerings of fish and vegetable sekuwa that are loved by its patrons as much. Over 150 people have found employment with the company who serve more than 500 customers a day in addition to more than a dozen banquets each month at its sprawling Battisputali premises.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>How Times Change</strong></span></div>
<div>
	Chetan recalls that in the early days of Bajeko Sekuwa, he would find it difficult to open fresh outlets for lack of new location as well as business loans from banks. &ldquo;The scenario has completely reversed today. While home-owners approach me personally to lease out their properties, the banks are way more forthcoming with granting loans to my business,&rdquo; smiles Chetan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says that it doesn&rsquo;t matter what one chooses to do as long as s/he is focused about it. He adds, &ldquo;Anybody wanting to enter business must conduct research related to product and market, set targets and stay positive.&rdquo; The affable yet charismatic restaurateur in his 30s adds that risk-taking capacity is what brought him success and if one wants to make it big, there is no looking back, &ldquo;After all, we do business for money.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Bajeko Sekuwa" src="/userfiles/images/ss2%20(Copy).jpg" style="width: 550px; height: 335px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Cashing the Brand&nbsp;</strong></span></div>
<div>
	Having tasted unprecedented success, Bajeko Sekuwa is now looking to open new outlets in the Kathmandu Valley as well as outside of it. &ldquo;I am working at a franchise model for the business wherein aspiring entrepreneurs from across Nepal will have the opportunity to get associated with us,&rdquo; Chetan says. He adds that internationally too, there have been interests pouring in from entrepreneurs based in countries such as Qatar, Malaysia and Macau among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has also hired experts to help expand the business in every possible manner. &nbsp;Besides increasing its count on number of outlets, it plans to start selling ready-to-eat, frozen as well as ready-to-cook marinated sekuwa from its outlets and various department stores. The business is also mulling over launching &lsquo;Bajeko Masala&rsquo; (spices). &ldquo;The idea is to cash the brand name as much as possible and reach success levels that I had envisaged and was confident about even as a young student long time ago,&rdquo; Chetan concludes.</div>',
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			'description' => 'A father’s passion for cooking and his son’s entrepreneurial character have combined to shape ‘Bajeko Sekuwa’ as a well-liked brand to reckon over the years. The ever so popular eatery has been operating from half-a-dozen outlets in Kathmandu and has plans to launch many more.',
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			'title' => 'Visual Edit Vol 4 Issue 4',
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			'created' => '2014-01-27',
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			'content' => '<div>
	<strong>--By Madhav Prasad Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	South Asia is sitting on enormous wealth of resources of one sort or the other. The richness of the region in terms of human and natural resources, historical and cultural heritage and natural diversity is incomparable. The region is homogenous in terms of similar cultures, traditions, values and beliefs. Furthermore, in this era of interdependence and interconnectedness, we find our interests intersecting in many areas that should help foster the sense of partnership to achieve larger regional objectives.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It is true that the activities of SAARC have been directed towards tapping the regional potentials. Various programmes and projects have been launched for common benefit. Trade liberalization, including elimination of para-tariff and non-tariff barriers, is in progress. Work is underway for concluding an agreement on investment promotion and protection in the region. SAARC has given emphasis on enhancing regional connectivity. A number of activities have been carried out in the field of promotion of tourism and people-to-people contacts. However, the pace is slow and progress is limited. Much remains to be done to change the socio-economic landscapes of the region.</div>
<div>
	&nbsp;</div>
<div>
	Despite our regional efforts to make South Asia a region of peace, prosperity and happiness, this region still faces varying challenges such as poverty, hunger, underdevelopment, trafficking of women and children, energy crisis, environmental degradation and so on. In fact, these challenges are not unique to South Asia alone; other regions also face them but they are more pronounced in our region.It is only through the concerted and collaborative efforts of all countries of South Asia that these challenges can best be addressed for the greater interest of the region. We need to mobilize requisite political will and redouble our efforts in this regard.</div>
<div>
	&nbsp;</div>
<div>
	The global economy has witnessed a tectonic shift with emergence of new growth poles in regions that were largely underdeveloped a few years ago. Consistent with this global trend, we must seriously think of making South Asia a vibrant region with emphasis laid on trade and investment. This will call for a number of enabling measures including elimination of intra-regional barriers, development of physical infrastructure to enhance regional connectivity and reduction of gap of energy shortage, among others. Some policy reforms may also be required to create South Asia as a whole an investment friendly region. While we aspire for deeper regional integration, opportunities for equitable sharing of benefits from such integration will have to be guaranteed with a view to providing a level-playing field to all members. This is because of different levels of resources endowment, productive capacity, industrialization and socio-economic development among SAARC member states.</div>
<div>
	&nbsp;</div>
<div>
	Our efforts to fight poverty require implementation of projects benefitting the common peoples through income generation and skill enhancement. Targeted, focused and dedicated economic and social measures are essential to lift people out of grinding poverty and hunger. Poverty eradication must remain at the core of all development policies, programmes and activities, as the broader goals of sustainable development cannot be achieved without eradicating poverty.</div>
<div>
	&nbsp;</div>
<div>
	Our focus should be to adopt such policy and programmes that could provide better education opportunities and health care services, widen job market and other opportunities, empower peoples, and strengthen national capacities in order to create a strong South Asia. Effective ways and means are required to address the adverse and disproportionate impact of climate change, which has emerged as one of the largest development challenges of our time. We also need concerted measures to fight against terrorism, trafficking in women, children and drugs and other transnational crimes that pose serious threat to the peace and stability of the region.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To find a secure place in a rapidly globalizing world characterized by the proliferation of regional groupings of varied speed and scale, we should gear our efforts towards developing collective competitiveness in the region, especially in the areas of economy, trade and investment. It can be achieved through greater regional economic integration and collective capacity building endeavours. For this, matters relating to trade, transport and infrastructure should be addressed on an urgent basis. Special emphasis should be accorded to the needs and concerns of the least-developed and land-locked members of the Association. Likewise, through the expansion of intra- and inter-regional trade backed by smooth, timely and effective implementation of SAFTA, the Association can work towards realizing the goal of establishing the South Asian Economic Union in the future.</div>
<div>
	&nbsp;</div>
<div>
	Economic growth and social progress should go hand in hand, as the one reinforces the other. Economic growth serves as the foundation of progress in other areas. It is essential to promote and sustain gains in social and human development. Likewise, social progress and human development help achieve faster economic growth on a sustainable basis. Delivering concrete results to the peoples in the region is essential to ensuring their ownership of the SAARC process. Clearly, this entails moving from the phase of making promises to actions. For this, we need first to think seriously what is doable and what is not, and then chart a pragmatic course of action that is in the interest of, and supported by, all members. We have spent considerable time and energy in establishing elaborate institutions and work programmes. As a result, both institutions and activities have proliferated over the years. Now the time has come to consolidate the gains and make a visible and qualitative difference in the operation&nbsp;</div>
<div>
	of SAARC.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	SAARC is lagging behind other regional groupings both in terms of visibility and progress. We need to work hard to catch up to grasp the emerging opportunities at the global level. SAARC offers a vital tissue, connecting peoples in the region. Widely disseminating SAARC ideals and spirit across South Asian region is equally important to constantly nurture the SAARC process through people&rsquo;s positive response and commitment.Likewise, educational institutions in the region can inculcate young minds with a sense of togetherness under SAARC umbrella. In addition, greater mobility and exchange between South Asian peoples will help foster and nurture South Asian fraternity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Ghimire is the Minister for Home and Foreign Affairs of the Government of Nepal. The article is adapted from the keynote address he delivered at the inaugural session of the seminar on &ldquo;Bringing SAARC Closer to the People: A Nepalese Perspective,&rdquo; jointly organized by the Institute of Foreign Affairs and the SAARC Secretariat in Kathmandu on 20 January 2014.)&nbsp;</em></div>',
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		'Article' => array(
			'id' => '2516',
			'article_category_id' => '144',
			'title' => 'All Big Companies Should Go Public',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.</div>
<div>
	&nbsp;</div>
<div>
	There are many advantages for a company going public. The financial benefit in the form of raising capital is the most distinct advantage. Capital can be used to fund research and development, fund capital expenditure or even used to pay off existing debt. Another advantage is an increased public awareness of the company because IPOs often generate publicity by making their products known to a new group of potential customers.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Still, MNCs like Dabur Nepal, Surya Nepal, Asian Paints etc are not listed at Nepse. The parent companies of these MNCs are, however, listed at the capital markets of their respective countries. Very few MNCs like Uniliver, Bottler&rsquo;s Nepal and Taragaon Regency Hotels are listed at the capital market. The MNCs operational in Nepal perhaps don&rsquo;t need to raise capital from the general public as their principals abroad have deep pockets.</div>
<div>
	&nbsp;</div>
<div>
	Besides MNCs, there are big companies run by the established business houses in the country that are reluctant to go public. These companies have not felt the need to issue IPO as their owners are often the promoters of banks and insurance companies. So, they can get loans from the banks and can also claim insurance comparatively easily.</div>
<div>
	&nbsp;</div>
<div>
	But raising capital is not the only reason why a company should go public. Public companies are expected to be more transparent as they have to abide by the rules and regulations of the regulator of the capital market which is the Securities Board of Nepal (SEBON) in our case. Public companies have to issue periodic financial reports and hold AGMs which means added disclosure for investors. These activities put pressure on public companies to be more transparent. Maintaining transparency enhances the public image of companies. There is no reason why a company should not try to become more transparent.</div>
<div>
	&nbsp;</div>
<div>
	Recently, the government has started preparations to make all telecommunications companies as public companies. This step by the government is welcome. So far, only the state-owned Nepal Telecom is a public company. Other telecom operators such as NCell, United Telecom, STM Telecom, Smart Telecom, Nepal Satellite etc are operating as private companies. The government wants all these existing companies to go public and has indicated that new entrants will be issued license only after they agree to become a public company.</div>
<div>
	&nbsp;</div>
<div>
	A committee formed to study cross holding in telecoms has already forwarded its suggestions to the government. According to the suggestions, the ceiling of cross holding in public companies should be restricted to 15 per cent. Similarly, the committee has suggested that the share of one person or group should not be more than 51 per cent. However, the committee has suggested that the current provision for a foreign investor to hold up to 80 percent of shares in a company should be given continuity.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is a need to revise this provision, if not in the case of the existing companies then in the case of new companies where two or more foreign investors should be allowed to hold up to 80 per cent of shares. Such a policy would make sure that there two or more foreign investors in one company and if one of them wants to make an exit, any of the other companies can buy the shares.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Almost all big private firms including the multinational companies in Nepal have so far decided against going public. Though they are eligible for public listing, they are not listed at Nepal Stock Exchange (Nepse). Of the total 235 companies listed at Nepse, more than 85 per cent are banks and insurance companies as it is mandatory for them to issue Initial Public Offering (IPO) within two years of their establishment.',
			'sortorder' => '2359',
			'image' => null,
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			'homepage' => false,
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2514',
			'article_category_id' => '86',
			'title' => 'Work Experience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Two employees are having a conversation on work experience. One asks the other: &ldquo;How long have you been working here?&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Ever since the boss threatened to fire me!&rdquo; came &nbsp;the reply. &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>-ML</strong></div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Two employees are having a conversation on work experience. One asks the other: “How long have you been working here?”',
			'sortorder' => '2358',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2509',
			'article_category_id' => '140',
			'title' => 'Mai Hydel Project To Start Commercial Production In 5 Months',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. &ldquo;We are planning to start commercial production by mid-June this year,&rdquo; he said, &ldquo;We are committed to complete the project by then if there are no hurdles.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The power produced by the project will be connected to the national grid through the Godak substation by constructing a 12-km long transmission line. The project is itself building the 132 KV transmission line. &ldquo;Almost 50 per cent work of the transmission line has already been completed,&rdquo; shared Dr Shrestha.</div>
<div>
	&nbsp;</div>
<div>
	The project with an estimated construction cost of Rs 4.5 billion lies in Ilam district. A consortium of banks led by Laxmi bank has invested in the project. SHPL has distributed 10 per cent shares of the project each to the locals and general public.</div>
<div>
	&nbsp;</div>
<div>
	The electricity produced by the project will be supplied to various parts of the country through the Kabeli Corridor National Transmission Line which is under construction. This transmission line starts at Damak of Jhapa and ends at Phidim of Pacnhthar district. However, the construction work of this transmission line which is being built by the Nepal Electricity Authority with the financial assistance of the World Bank is not going at the expected speed. &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Eighty-five percent of the construction works of the 22MW Mai Hydropower Project being developed by Sanima Hydropower Pvt Ltd (SHPL) has been completed. The project will start commercial production within the next five months, according to Dr Subarna Das Shrestha, one of the promoters of the project. “We are planning to start commercial production by mid-June this year,” he said, “We are committed to complete the project by then if there are no hurdles.”',
			'sortorder' => '2357',
			'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) 5 => array(
		'Article' => array(
			'id' => '2513',
			'article_category_id' => '140',
			'title' => 'Nepal Political Economic News In Brief (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>First Meeting of CA</strong></span></div>
<div>
	The first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time. &ldquo;It is necessary to draft the constitution to make the tenure of the CA members successful. Otherwise, history will deem us irresponsible and a failure,&rdquo; Thapa said, and wished the members of the second CA success in drafting the statute on time. The meeting also formed a panel of CA members comprising Man Bahadur Bishwokarma, Bikram Pandey, Bidhya Bhandari, Man Kumar Subba, among others, for chairing the CA meeting in Thapa&rsquo;s absence and until a chairman and vice chairman of the new CA are elected. Thapa announced that the second CA meeting will be held at 1 pm on January 29. The new CA is yet to attain its full shape as 26 CA members to be nominated by the Cabinet are yet to be finalized.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dr KC Ends Fast-Unto-Death</strong></span></div>
<div>
	Two days after Tribhuvan University (TU) sacked Dr Sashi Sharma, the newly appointed Dean of Institute of Medicine (IOM), Dr Govinda KC ended his 14-day fast-unto-death at Tribhuvan University Teaching Hospital (TUTH) on January 24 following a commitment by the government to fulfill his demands. The decision of TU to sack Dr Sharma came amid mounting pressure from various quarters to address the demands of Dr KC, a senior orthopedic of the hospital, who had been on fast-unto-death putting forth a seven-point demand including the removal of Dr Sharma as IoM dean and reinstate former Dean Dr Prakash Sayami. TU executive council had recently appointed Dr Sharma as the IoM Dean after former Dean Dr Prakash Sayami resigned from the post. Dr KC started an indefinite hunger strike soon after Dr Sharma&rsquo;s appointment as the IoM Dean. Various organizations including Nepal Medical Association expressed solidarity with Dr KC&rsquo;s fast-unto-death. Around 200 Faculty Doctors of TUTH had resigned en masse on Jan 21 in support of Dr KC&rsquo;s demands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Tenure of Prez, Vice Prez till New Constitution: SC</strong></span></div>
<div>
	The Supreme Court (SC) on January 23 ordered that the tenure of the incumbent President and Vice President will end only after the promulgation of the new constitution. A single bench of Justice Girish Chandra Lal delivered the verdict. In the verdict, the apex court said that President Dr Ram Baran Yadav and Vice President Parmananda Jha will continue to work in their capacities as it has been clearly mentioned in the constitution. &ldquo;Article 36(c) of the Interim Constitution says that the tenure of the President will last until the Constituent Assembly promulgates a new constitution. In Article 36(i), similar provision exists about the tenure of the Vice President,&rdquo; the SC said in its verdict. The SC verdict came in response to a writ petition filed by advocate Om Prakash Aryal demanding new elections for the posts of President and Vice President.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Local Body Elections Imperative Now: CEC&nbsp;</strong></span></div>
<div>
	Chief Election Commissioner (CEC) Nilkantha Upreti has said that the local elections have become &ldquo;imperative and customary&rdquo; after the Constituent Assembly election. He added that the Election Commission was ready to hold the local election if the soon-to-be-formed government formulated necessary laws and fixed a date for it. &ldquo;If the dates (for local elections) are announced by the second week of February, we will easily conduct the election within May this year,&rdquo; the CEC told media persons at a programme in the capital on January 24. He said that the political parties should agree on a date for holding the local elections since the majority of them have committed in their election manifestos to hold such elections within six months after the CA election.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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 first meeting of the Constituent Assembly (CA) began at the CA Building in New Baneshwor at 3 pm on January 22. Surya Bahadur Thapa, the senior-most CA member, chaired the meeting which unanimously endorsed the proposal of CA Regulations 2065 to conduct CA and house business until new regulations is formulated. Welcoming 565 CA members who were sworn in a day before, Thapa stressed on the need to draft the constitution on time.',
			'sortorder' => '2356',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2512',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (27 January - 02 February 2014)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>&nbsp;&lsquo;Economic revolution &nbsp;responsibility of political parties&rsquo;</strong></span></div>
<div>
	Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA). Speaking at the 47th anniversary of the Agricultural Development Bank in the Capital on January 21, Minister Koirala said that the political parties should now address the agenda of economic growth and revolution. Stating that growth of the agriculture sector was necessary to improve the livelihood of the people by increasing economic growth, Koirala said the government has been working as the captain to transform the import-oriented economy into an export-oriented one.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Australia Unhappy over Nepal&rsquo;s Inability to Utilize Aid</strong></span></div>
<div>
	The Government of Australia has expressed dissatisfaction over Nepal&rsquo;s inability to utilize the financial aid and support it extended to improve Nepal&rsquo;s health sector. Australian Ambassador to Nepal, Glen White expressed his government&rsquo;s concern in this regard during a meeting with Finance Minister Shankar Prasad Koirala at the latter&rsquo;s office on January 22. He said that the inability of Nepal&rsquo;s government to properly spend the aid provided by the Australian government to the country&rsquo;s health sector will seriously affect future aid programmes. The Australian envoy further said that it was very unfortunate to see Nepal government&rsquo;s inability to spend the Australian aid provided for such a sensitive topic as public health. On the occasion, Finance Minister Koirala expressed regret over the fact, and urged the Australian government to continue extending the same kind of help and support.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Leather Goods Exhibition 2014 Concludes</strong></span></div>
<div>
	The Leather Goods Exhibition 2014 concluded successfully at Bhirkutimandap in the capital on January 19, recording a business transaction of around Rs 15 million. The five-day exhibition also witnessed over 60,000 footfalls, according to Leather Footwear and Goods Manufacturers&rsquo; Association of Nepal (LFGMAN), the organizer of the Exhibition. It is estimated that nearly 40 per cent of the visitors bought leather footwear and goods at the exhibition. The event featured some 60 stalls of various leather products including jackets, belts, bags and shoes, among others. Inaugurating the Exhibition on January 14, Minister for Industry Shankar Koirala had said that the government was preparing directives to use domestic products in government offices to promote domestic goods.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Govt Preparing to Privatise Nepal Drug Ltd</strong></span></div>
<div>
	The government has started preparations to privatise the state-owned Nepal Drug Ltd (NDL), a public enterprise which remains closed for more than past two years. In a meeting held at the Ministry of Finance (MoF) to review the performance of public enterprises on January 23, it was recommended that the NDL be handed over to the private sector, according to Janmejaya Regmi, chief of the Corporation Coordination Division under the MoF. Regmi said that preparation has been started to give voluntary retirement to the existing staff of NDL and then hand it over to the private sector.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>ADB&rsquo;s Grant for Climate Resilience Project</strong></span></div>
<div>
	The Asian Development Bank has decided to provide a grant assistance of Rs. 2.32 billion to Nepal for the execution of the project of building climate resilience of the watershed in mountain Eco-regions in Nepal. Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division of the Ministry of Finance, and Kenichi Yokoyama, Country Director of Nepal Residence Mission, ADB, signed the grant assistance agreement on January 20 at the Ministry of Finance on behalf of Government of Nepal and Asian Development Bank, respectively. It is expected that by executing this project, the climate resilience in Nepal&acute;s mountain communities would be improved. About 45,000 households are expected to be benefitted from improved water availability during the dry seasons to support domestic and agricultural uses. The spring or surface water sources are expected to become more reliable.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Match Box Industry</strong></span></div>
<div>
	A new match industry has come into operation in Nepalgunj of Banke district. The Ratnalaxmi Group has invested Rs 50 million in the Ratnalaxmi Match Industry. The Industry has started producing match boxes of Teer brand with technical assistance from the multinational company, Surya Nepal Pvt Ltd, according to Prakash Adhikari, managing director of the Ratnalaxmi Group. &ldquo;The supply of match boxes is still lower than the demand in the market,&rdquo; said Adhikari, adding that the Industry is trying to produce skilled manpower. The industry has provided direct employment to 100 people.&nbsp;</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Minister for Finance, Shanker Prasad Koirala has said that the responsibility to take the country towards economic revolution lies with the elected political parties, adding that the incumbent government had fulfilled its duty of holding election to the second Constituent Assembly (CA).',
			'sortorder' => '2355',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2510',
			'article_category_id' => '140',
			'title' => 'Revenue Mobilisation Falls Short Of Target',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	The government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;However, the revenue mobilization in the first six months of the current fiscal is about 21.5 per cent than that of the same period of the last fiscal year,&rdquo; Bhumi Ram Sharma, joint spokesperson for the MoF told The Corporate. The government had collected total revenue of about Rs 134.56 billion in the first six months of the last fiscal year.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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 government has fallen short of meeting the revenue mobilization target by nearly Rs 4.74 billion in the first six months of the current fiscal year. According to the Ministry of Finance (MoF), the total revenue mobilization in the first six months of the current fiscal year stood at about Rs 163.44 billion against the target of Rs 168.18 billion.',
			'sortorder' => '2354',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2511',
			'article_category_id' => '140',
			'title' => 'Koirala Elected NC PP Leader',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Nepali Congress President Sushil Koirala was elected the party&rsquo;s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;NC had decided to go for voting after failing to select a unanimous candidate for the PP leader. The voting was conducted at NC PP office at Singha Durbar.</div>
<div>
	&nbsp;</div>
<div>
	Earlier, NC Vice President Ram Chandra Poudel pulled out of the race to become the PP leader and decided to support Koirala.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-01-27',
			'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' => 'Nepali Congress President Sushil Koirala was elected the party’s Parliamentary Party (PP) leader in an election held on January 26. Koirala who is tipped to become the next Prime Minister got 105 of the total 194 votes to defeat his only rival Sher Bahadur Deuba who could secure only 89 votes.',
			'sortorder' => '2353',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2506',
			'article_category_id' => '138',
			'title' => 'Nepal's Rice Production To Increase: USDA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal&#39;s rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers. The list of fourty-eight rice producers includes India, China, Japan, Thailand, Indonesia, United States and Bangladesh.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	USDA did not give specific reason regarding the increase of rice production in Nepal. In October, the United Nation&#39;s Food and Agriculture Organisation (FAO) projected rise in rice production for Nepal in 2013. However, the two forecasts differed by 1.6 million tonnes, with FAO estimating Nepal&#39;s rice production to increase to 4.6 million tonnes last year. &nbsp;According to the UN agency, timely and sufficient monsoon downpour contributed to the country&#39;s rice output, increasing by 2 per cent compared to the previous year. Nepal, after having a bumper harvest of 5.07 million tonnes in 2011, witnessed fall in rice production by 11.3 per cent to 4.5 million tonnes in 2012, largely due to erratic rainfall and a shortage of fertilisers. Despite the rise in production, FAO estimated that Nepal will import 400,000 tonnes of rice in 2013. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal government is also hopeful of good paddy harvest. According to data from Ministry of Agriculture Development, paddy transplantation has been successful on 97 per cent of the total paddy fields across the country last year. Paddy is regarded as the main crop of Nepal. About 55 per cent of the cultivated land of the country is estimated to be covered with paddy.</div>',
			'published' => true,
			'created' => '2014-01-27',
			'modified' => '2014-02-09',
			'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' => 'Rice production in Nepal is set to increase to 3 million tonnes this crop year to June, projects a report published by the US Department of Agriculture (USDA). The USDA in its latest Rice Outlook has revised Nepal's rice production from 2.97 million tonnes to 3 million tonnes. The US federal executive department responsible for developing and executing federal government policy on farming, agriculture, forestry, and food has listed Nepal in its list of major global rice producers.',
			'sortorder' => '2352',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2503',
			'article_category_id' => '122',
			'title' => 'Vishal Group The Emerging FMCG Powerhouse',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Arpit Agrawal, Director, Vishal Group" src="/userfiles/images/sp2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 226px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<div>
								<strong>Arpit Agrawal</strong></div>
							<div>
								Director, Vishal Group</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Vishal Group&rsquo;s seeds were sown in Dharan. The first generation entrepreneurs from the Agrawal family had a textile shop there. When the family-owned textile business was passed onto the next generation, it took a shape of a manufacturing industrial house following their entry into steel manufacturing. The group has two steel factories in Biratnagar.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Then the group moved into the financial service which was further diversified into imports and distribution. United Distributors Nepal Pvt Ltd, one of the flagship companies of the group has around 50 top brands of the world in its portfolio that it distributes across Nepal. Similarly, the group has involvement in the automobiles, financial services, real estate, education and manufacturing among other sectors.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Diversification</strong></span></div>
<div>
	Arpit Agrawal, Director of Vishal Group says that it was the efforts of his grandfathers, uncles and his father who took the group to the next level. He says that their exposure to the international business practices and the ideas they brought into the company worked well for the success of their family owned business. Though the group started diversification with the manufacturing of steel, the business that is as strong as the steel now comprises of 40 per cent of the distribution business.</div>
<div>
	&nbsp;</div>
<div>
	The Agrawal family has divided the business among themselves on sector basis. &nbsp;Agrawal feels that it is the expertise of the entrepreneurs in the family that helped in the diversification decisions. Agrawal, one of the youngest entrepreneurs in the family adds, &ldquo;If I am given with a choice between manufacturing and distribution business, I would go for the distribution. Manufacturing sector has small and clustered market. The latter offers me scope for my personal as well as professional development. And, more importantly, I enjoy this particular sector.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	In the distribution sector, Vishal Group and its subsidiaries are authorised distributors for 50 different FMCG brands in personal care, food and beverages, electronics, liquor and medicines. When asked about the future concentration of the group, Agrawal says that Vishal Group wishes to be the number one FMCG powerhouse of the country. However, he hinted that the group will not completely abandon its manufacturing base.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Days Ahead</strong></span></div>
<div>
	Agrawal says that the future of the group looks promising in his vision. &ldquo;Trading sector is the future for Vishal Group. And, we are certain that we will be the number one FMCG powerhouse of Nepal,&rdquo; he envisions. He is also hopeful that this target may be achieved sooner than three years. Agrawal says that the group has a wide range of products including small products like a mouth freshener to a luxury car. He adds that the group wants to be one stop solution to all the consumer goods and he says there is a possibility of establishing a department store selling only products that range from potato chips to luxury cars, distributed by the Vishal Group.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Beating the Competition</strong></span></div>
<div>
	Vishal Group hardly feels the presence of its competitors. Though the group sells anything ranging from potato chips to cars, Agrawal says that the group hardly feels any competition. &ldquo;We are so much busy working that we don&rsquo;t get time to think a lot about competition. It is always nice to know what our competitors are doing but we don&rsquo;t really get affected by what they do. We just want to grow as a brand rather than getting involved in beating our competitors,&rdquo; he explains. Agrawal further says that arrogance affects the brand image and the group is not arrogant at all.</div>
<div>
	&nbsp;</div>
<div>
	To have a significant market share, the group has covered 35 cities and towns across the country. And, it has 60 distributors in those cities and towns. These distributors distribute the goods imported by the group and ensure that they reach the target customers at ease. Agrawal says that products dealt by the group are available in the smallest of the shops of smallest of the towns. He informed that there are more than 100 people working in the sales team of the group.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Various products offered by the group have their own distinct target markets from general public to premium niche clients. According to Agrawal, products of Procter &amp; Gamble on personal care segment has 35 per cent market share while chocolate brands like Mars and Snickers control about 40 per cent market. Similarly, Volkswagen targeted at premium customers has around 10 to 15 per cent market share in its class. Likewise, he adds that the recently introduced Royce energy drink aims to acquire the number two position, after Red Bull within a year.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Vishal Group Nepal" src="/userfiles/images/sp1%20(Copy).jpg" style="width: 550px; height: 196px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Unique Management Practices</strong></span></div>
<div>
	Vishal Group is designing one of its own kinds of offices in Nepal, says Agrawal. He adds that the working space is being modernised replicating the style of leading MNCs of the world. Agrawal says that in MNCs everyone sits in the same table, be it the highest ranking official or a junior employee, and this pattern is being incorporated at the Vishal Group&rsquo;s corporate office.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, he says that directors of the group prefer working in the workstation rather than at their private cabins so that employees could have easy access to them. &ldquo;We don&rsquo;t want our employees whom we call our associates feel that we are superior to them. We want to be very accessible. And, when I am working at the workstation, anyone can easily meet me anytime,&rdquo; explains Agrawal.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;When we grow as a brand and a group, we call our employees our associates. We want them to grow not only financially but also professionally and personally along with the group,&rdquo; Agrawal shares. To ensure the employees develop a sense of belonging towards the company, the group has introduced various motivational packages. One of them is that the employees are allowed to take a half day leave to go to the movies every two months. Likewise, weekly off-work programmes are conducted at the office. The group has 2000 happy employees in all of its companies.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<span style="font-size:16px;"><strong>Awards and Recognition</strong></span></div>
						<div>
							&nbsp;Vishal Group has been recognised as the highest taxpayer in 2010 by the government. United Distributors Nepal Pvt Ltd, one of the subsidiaries of group was awarded the Highest Tax Payer of Nepal in the foreign trade category. Similarly, the group&rsquo;s quality commitment has awarded it with the much coveted &lsquo;NS Quality Award 2002&rsquo; given to Mainawati Steel Industries Pvt Ltd. The group claims that it is the first industrial unit to obtain &lsquo;ISO 9002&rsquo; certification under the cables segment. Similarly, Nepal Industrial and Commercial Bank, one of the subsidiaries of the group was conferred with &lsquo;Commercially Important Person 2002&rsquo; award.</div>
						<div>
							&nbsp;</div>
						<div>
							<strong><span style="font-size:16px;">CSR Initiatives</span></strong></div>
						<div>
							Vishal Group believes in responsible business practices. The corporate social responsibilities (CSR) activities of the group are guided by the philosophy that the group must also give back to the society when it keeps growing larger. The group is involved in a number of social and community projects contributing generously and responsibly. For this purpose, the group runs Gordhandass Kamalawati Paropkari Pratisthan, named after the group&rsquo;s founder and his wife. The trust funds various charitable organisations and activities related to education.</div>
						<div>
							&nbsp;</div>
						<div>
							Similarly, Agrasen Bhawan, based in Dharan is a community centre constructed on the land donated by the group. This centre offers food and accommodation services at a highly subsidised price to those travelling to Dharan. The centre also has meeting halls that are being used for community activities and events.</div>
						<div>
							&nbsp;</div>
						<div>
							Likewise, the group supports various humanitarian causes for the welfare of the needy people in the society. It has been providing monetary and other basic materials like clothes to orphans and needy families in various parts of the country. The group adopts three orphan children each year and sponsors their education and also donates prosthetic limbs to disabled people.</div>
						<div>
							&nbsp;</div>
						<div>
							<span style="font-size:16px;"><strong>Some Brands Distributed by Vishal Group</strong></span></div>
						<div>
							<span style="font-size:16px;"><strong><img alt="" src="/userfiles/images/sp%20(Copy).jpg" style="width: 550px; height: 1473px;" /></strong></span></div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>',
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			'description' => 'Vishal Group is working with a vision to establish itself as a fast moving consumer goods (FMCG) powerhouse of Nepal within three years.',
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			'title' => 'Gates Says Poor Countries Not Doomed To Stay Poor',
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	&nbsp;</div>
<div>
	Philanthropists Bill and Melinda Gates are optimistic about the future of the world&rsquo;s poor and say three myths are hampering the progressive efforts to fight disease and poverty. In the sixth annual letter published by their foundation, Bill Gates writes that the first myth floated by some is that poor countries are doomed to stay poor. He says that&rsquo;s not true and predicts that by 2035, there will be almost no poor countries left in the world. In an interview in New York City, Gates says the second myth is that foreign aid is wasteful. Melinda Gates writes the case against the third myth that saving lives leads to overpopulation. &quot;All three reflect a dim view of the future, one that says the world isn&#39;t improving but staying poor and sick, and getting overcrowded,&quot; Bill Gates writes in the 16-page letter. &quot;We&#39;re going to make the opposite case, that the world is getting better, and that in two decades it will be better still.&quot; Gates says GDP per capita figures, adjusted for inflation to 2005 dollars, show that many countries such as China, India, Brazil and even Botswana that were once considered poor now have growing economies.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	And in Africa, a place the Microsoft co-founder says is all too often dismissed as hopeless, life expectancy has risen since the 1960s despite the HIV epidemic. Also, more children are going to school and fewer people are hungry. Gates also argues against claims that foreign aid is wasteful because it is too expensive, because it is stolen by corrupt officials receiving it or because countries who receive it become dependent on it. He says that in Norway, the world&#39;s most generous donor of foreign aid, the amount of its budget that goes to foreign aid is only 3 percent. In the US, it&#39;s less than 1 percent, or about USD 30 billion per year, of which USD 11 billion goes to vaccines, bed nets and other health causes. &nbsp;His wife, Melinda, wrote a section of the letter dispelling the myth that saving lives worldwide will lead to overpopulation. She points to countries such as Brazil where both child mortality and birth rates have declined. When more children survive, she says, parents have smaller families.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In the interview, Gates expanded on the letter and its optimistic tone, saying the traditional headlines associated with poor countries &mdash; that they&#39;re plagued by natural disasters, political instability and corruption &mdash; have prevented people from understanding how much progress has been made.</div>',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2465',
			'article_category_id' => '138',
			'title' => 'Nepal Falls In Economic Freedom Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<div>
		Nepal has fallen far behind than other Asian economies in terms of economic freedom, a latest global report revealed. According to the Index of Economic Freedom 2014, jointly published by the Heritage Foundation and The Wall Street Journal, Nepal ranked 149th among 178 countries globally. With a score of 50.1points out of 100, Nepal was placed among the group of countries having low level of economic freedom. The index puts economies with score at the range of 50-59.9 in the &lsquo;Mostly Unfree&rsquo; group. &nbsp;Similarly, the country ranked 34th among 42 nations in the Asia-Pacific region. &ldquo;Nepal&rsquo;s score has decreased by 0.3 points with modest improvements in business freedom, monetary freedom, and the control of government spending outweighed by declines in investment freedom and freedom from corruption&hellip;its score remains far below world and regional averages&rdquo; informed the report. According to the report, this year&rsquo;s world average for economic freedom is 60.3 while the regional average is 58.3 (Asia-Pacific) and average of the free economies is 84.1. In 2012 and 2013, Nepal ranked 147th and 141st in the index. The Index of Economic Freedom rates countries in 10 categories of economic performance such as rule of law, regulatory efficiency, limited government and open markets.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		<img alt="Economic Freedoms" src="/userfiles/images/ef%20copy.jpg" style="float: right; margin: 0px 0px 0px 10px; width: 250px; height: 324px;" />Nepal was first graded in the 1996 Index, and its economic freedom score since then has been largely stagnant, declining overall by less than half a point. &ldquo;Improvements in four of the 10 economic freedoms, including freedom from corruption, business freedom, monetary freedom, and trade freedom, have been more than offset by deterioration in other areas, particularly a 25-point decrease in investment freedom,&rdquo; the report said. &nbsp;Considered as a &ldquo;mostly unfree&rdquo; economy throughout its history in the Index, Nepal achieved its highest score in 2007. The report cited statist approach to economic management and development as a serious drag on business activity in Nepal. Likewise, it further mentioned that lack of transparency, corruption, and burdensome approval process impedes much-needed private investment and production in the country.</div>
	<div>
		&nbsp;</div>
	<div>
		&ldquo;Property rights are undermined by the inefficient judicial system, which is subject to substantial corruption and political influence,&rdquo; it said.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		In the South Asia region (excluding Afghanistan), Nepal ranked lowest in the index. Regional giant, India ranked 120th. Sri Lanka was placed at 90th position followed by Bhutan (116th), Pakistan (126th), Bangladesh (131st) and Maldives (145th). Sri Lanka was the only South Asian country to achieve position in the group of &lsquo;moderately free&rsquo; economy. China, the world&rsquo;s second largest and Asia&rsquo;s biggest economy, ranked 139th.</div>
	<div>
		&nbsp;</div>
	<div>
		Hong Kong and Singapore finished first and second in the rankings for the 20th straight year followed by Australia, Switzerland, New Zealand, Canada, Chile, Mauritius, Ireland and Denmark. The world&rsquo;s largest economy United States, ranked 12th in the index. North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, Iran and Republic of Congo were the most unfree or repressed in terms of economic freedom. Among the 178 countries ranked, scores improved for 114 countries and declined for 59.</div>
</div>
<p>
	&nbsp;</p>',
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			'article_category_id' => '51',
			'title' => 'Biztoon / Voices January 2014',
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	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Dr Kamal Raj Dhungel" src="/userfiles/images/krd%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;Government is suppressing private sector&rsquo;s growth.&rdquo;</strong></span></div>
<div>
	Dr Kamal Raj Dhungel, Professor at Central Department of Economics, Tribhuvan University alleging that the government has not done enough for the growth of the private sector. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Ichchha Raj Tamang," src="/userfiles/images/irt%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 97px;" />&ldquo;The government must allow to sell apartments to foreigners too.&rdquo;&nbsp;</strong></span></div>
<div>
	Ichchha Raj Tamang, President of Nepal Land and Housing Developers&rsquo; Association advocating the need to sell apartments to foreigners to give a boost to housing industry.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Barsha Man Pun" src="/userfiles/images/bmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 94px;" />&ldquo;We won&rsquo;t distress the economy by organising bandhs.&rdquo;</strong></span></div>
<div>
	Barsha Man Pun, Former Finance Minister and UCPN Maoist Leader promising that his party will not be organising any general strikes and closures that will affect the economy.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Leela Mani Paudyal" src="/userfiles/images/lmp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 80px; height: 98px;" />&ldquo;Industrialists must be responsible to the society.&rdquo;</strong></span></div>
<div>
	Leela Mani Paudyal, Chief Secretary, asking entrepreneurs to be accountable and responsible to the society and people.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 16px;"><strong><img alt="Prof Dr Bishwambher Pyakuryal" src="/userfiles/images/dbp%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; height: 98px; width: 80px;" />&ldquo;The economy faces the danger of macro-economic shocks.&rdquo;</strong></span></div>
<div>
	Prof Dr Bishwambher Pyakuryal, Senior Economist predicting what may happen to the economy because of large amount of money injected into the system during second Constituent Assembly Elections.</div>',
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		'Article' => array(
			'id' => '2498',
			'article_category_id' => '211',
			'title' => 'Bajeko Sekuwa',
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			'content' => '<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>--By Pinaki Roy</strong></div>
<div>
	&nbsp;</div>
<div>
	Started with an initial investment of Rs 600 over a quarter-of-a-century ago, &lsquo;Bajeko Sekuwa&rsquo; chain of restaurants has come a long way. &ldquo;Presently, our annual turnover well exceeds Rs 100 million,&rdquo; says its Chairman Chetan Bhandari.</div>
<div>
	&nbsp;</div>
<div>
	The enterprise came into being as an endeavour of his father Dinanath Bhandari who was passionate about cooking. During festivals and celebrations, family members and friends in his village would ask him to make Sekuwa (skewered barbecued meat). He would willingly do so and cherish their compliments on being a good cook.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After migrating to the capital, Senior Bhandari started a small eatery close to the Tribhuvan International Airport. It so happened that while on a visit to the airport, he noticed people selling different kind of food around the area. He observed that the airport served as a workplace for many people, including the services personnel, employees of Nepal Airlines Corporation, customs officials etc. It struck him that if he could put up a food joint there, decent footfall was almost a certainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Brand Name</strong></span></div>
<div>
	Many wonder where the eatery got its name from. When Bhandari ventured into selling sekuwa, he did not have a proper shop let alone having a name for identification. &ldquo;The credit for the brand name goes to the customers who used to frequent our roadside eatery those days,&rdquo; informs Chetan. Being a Brahmin and clad always in traditional daura-suruwal, the regular customers would refer to Dinanath Bhandari as &lsquo;Bahun Baje&rsquo; among themselves. And not too long in the future, people started calling the eatery as &lsquo;Bajeko Sekuwa&rsquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Chetan&rsquo;s foray into the business too has an interesting twist to it. Even though he was involved in the business as part of the Bhandari family, the turning point came when his dad expressed his desire to have a break for a pilgrimage to India. An MBA graduate, Chetan was considering a career in the corporate world but this sudden development left him with managing the business on his own while his father was away. He says, &ldquo;Even before my father returned from his pilgrimage to India, I had made up my mind to manage the business and develop it into something bigger.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="bajeko Sekuwa" src="/userfiles/images/ss1%20(Copy).jpg" style="width: 550px; height: 294px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>The Chain Effect</strong></span></div>
<div>
	Bajeko Sekuwa opened its first outlet at Sinamangal area in the capital. The eatery chain has since opened outlets in Nayabazar, Sorhakhutte, Battisputali, Anamnagar and Gairidhara over the last 11 years or so. With the expansion of the enterprise came the branding part &ndash; the name, logo, color and the likes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	While Chetan acknowledges that the business came into being because of his father, he is largely credited for transforming the brand into a hugely popular name among the food lovers of Kathmandu. He approached the business in his inimitable style and made it count amongst the most successful restaurant chains in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bajeko Sekuwa chain of restaurants offers over a hundred selection of food including, most notably, different varieties of sekuwa. It also has unique offerings of fish and vegetable sekuwa that are loved by its patrons as much. Over 150 people have found employment with the company who serve more than 500 customers a day in addition to more than a dozen banquets each month at its sprawling Battisputali premises.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>How Times Change</strong></span></div>
<div>
	Chetan recalls that in the early days of Bajeko Sekuwa, he would find it difficult to open fresh outlets for lack of new location as well as business loans from banks. &ldquo;The scenario has completely reversed today. While home-owners approach me personally to lease out their properties, the banks are way more forthcoming with granting loans to my business,&rdquo; smiles Chetan.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	He says that it doesn&rsquo;t matter what one chooses to do as long as s/he is focused about it. He adds, &ldquo;Anybody wanting to enter business must conduct research related to product and market, set targets and stay positive.&rdquo; The affable yet charismatic restaurateur in his 30s adds that risk-taking capacity is what brought him success and if one wants to make it big, there is no looking back, &ldquo;After all, we do business for money.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Bajeko Sekuwa" src="/userfiles/images/ss2%20(Copy).jpg" style="width: 550px; height: 335px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Cashing the Brand&nbsp;</strong></span></div>
<div>
	Having tasted unprecedented success, Bajeko Sekuwa is now looking to open new outlets in the Kathmandu Valley as well as outside of it. &ldquo;I am working at a franchise model for the business wherein aspiring entrepreneurs from across Nepal will have the opportunity to get associated with us,&rdquo; Chetan says. He adds that internationally too, there have been interests pouring in from entrepreneurs based in countries such as Qatar, Malaysia and Macau among others.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company has also hired experts to help expand the business in every possible manner. &nbsp;Besides increasing its count on number of outlets, it plans to start selling ready-to-eat, frozen as well as ready-to-cook marinated sekuwa from its outlets and various department stores. The business is also mulling over launching &lsquo;Bajeko Masala&rsquo; (spices). &ldquo;The idea is to cash the brand name as much as possible and reach success levels that I had envisaged and was confident about even as a young student long time ago,&rdquo; Chetan concludes.</div>',
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			'description' => 'A father’s passion for cooking and his son’s entrepreneurial character have combined to shape ‘Bajeko Sekuwa’ as a well-liked brand to reckon over the years. The ever so popular eatery has been operating from half-a-dozen outlets in Kathmandu and has plans to launch many more.',
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00