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			'id' => '2335',
			'article_category_id' => '109',
			'title' => 'NIC Asia Bank Announces Cash Dividend',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank&rsquo;s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December. The Bank posted net profit of Rs 642 million last year. The Earnings per Share (EPS) and Return on Equity (ROE) were Rs 47.41 and 14.63 per cent respectively. The Bank posted an operating profit of Rs 299 million in the first quarter of the current fiscal year.</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank’s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December.',
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			'id' => '2320',
			'article_category_id' => '138',
			'title' => 'Gold In Largest Annual Loss In 32 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That&#39;s the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It&#39;s also the first year-over-year decline in gold prices since 2000, according to FactSet.</div>
<div>
	&nbsp;</div>
<div>
	Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year&#39;s losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div>
<div>
	&nbsp;</div>
<div>
	Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div>
<div>
	&nbsp;</div>
<div>
	While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div>
<div>
	&nbsp;</div>
<div>
	The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div>
<div>
	&nbsp;</div>
<div>
	Inflation has been subdued all year and remains well below the Fed&#39;s target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div>
<div>
	&nbsp;</div>
<div>
	Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
</div>
<div>
	<span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div>
<div>
	Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed&rsquo;s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders also agree with this. &ldquo;Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,&rdquo; opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. &ldquo;Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,&rdquo; Shakya says. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Subdued demand of gold in domestic market is also seen as another factor affecting the bullion&rsquo;s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. &ldquo;Continuation of cash flow doesn&rsquo;t always fulfill the expectations of stock market,&rdquo; he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. &ldquo;Apart from equity market&rsquo;s performance, other sectors in Nepal aren&rsquo;t performing well,&rdquo; Shakya said adding, &ldquo;Investors are likely to return to gold after the stock market makes its adjustment in near term.&rdquo;</div>',
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			'modified' => '2013-12-30',
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			'description' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.',
			'sortorder' => '2177',
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			'id' => '2333',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief ( 23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 14px;"><strong>TU&rsquo;s 39th Convocation on Poush 12&nbsp;</strong></span></div>
<div>
	The 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU&rsquo;sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>TU Publishes SOMAT Results</strong></span></div>
<div>
	Tribhuvan University Faculty of Management has published the result&nbsp;</div>
<div>
	of School of Management Admission Test (SOMAT-Spring 2014). The examination was held on 17th December, 2013.Selected students will participate in group discussions and make individual presentations to be organized at the School of Management&rsquo;s building within the University campus premises in Kirtipur.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Four Private Schools Closed in Chitwan</strong></span></div>
<div>
	Chitwan District Education Office ordered to close four private schools in Chitwan to close down as they were operating without taking permission. These schools are Adarsh English Boarding School and Buddha Shanti School of Chainpur, Chaturbhuj Boarding School of Dahkhani VDC, and Dipjyoti English Boarding School. The notice has directed the schools and concerned guardians to shift students to other schools.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Birendrangar Multiple Campus Brought under Mid-Western University</strong></span></div>
<div>
	The Birendrangar Multiple Campus (BMC), Surkhet, has been formally brought under the Mid-Western University (MWU) on Saturday, 14th December. The campus had been providing higher education to students for 30 years since its establishment in 1980 as a constituent college of the Tribhuvan University.</div>
<div>
	It was formally handed over to the MWU amid a special function on Saturday.Established with a fund of mere Rs 80,000, BMC handed over its property worth over Rs 160 million to the MWU. Bhusan Manandhar, Chairperson of the BMC&rsquo;s Management Committee, urged for maintaining academic legacy of the campus in the days to come while handing over BMC documents to the MWU Vice Chancellor Padam Lal Devkota. MWU was established four years ago.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Felicitation Programme by Apex Life School&nbsp;</strong></span></div>
<div>
	Apex Life School organized a felicitation programme on 17th December, Tuesday in the Buddha Hall of DAV School. The event supported Bagmati Cleaning Programme and focused on issues surrounding Clean Bagmati iniative. Speaking at the programme, Israel Ambassador, Hanan Goder-Goldberger, stressed on education as an important factor for bringing prosperity to Nepal. He stated that education is an investment for the society. The event was followed by series of entertainment programmes by the students of Apex Life School.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Book Launched</strong></span></div>
<div>
	On the occasion of 65th International Human Rights Day, South Western State College and Manav Adhikar Kadar Pratisthan launched a book &ldquo;Human Rights and Education Special Edition&rdquo;. The book was launched by the chairman of National Human Rights Commission, Kedarnath Upadhyay in a programme organised in the capital on Wednesday, December 18. Speaking at the programme, Upadhyay said that the country&rsquo;s democracy can be strengthened if Human Right is preserved. He also awarded winners of the inter college oratory competition organised to mark the occasion. Barsha Thapa of SouthWestern College had bagged the 1st prize in the competition.</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU’sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).',
			'sortorder' => '2176',
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		'Article' => array(
			'id' => '2332',
			'article_category_id' => '151',
			'title' => 'Is Your Office Making You Unproductive?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rachel Emma Silverman</strong></div>
<div>
	&nbsp;</div>
<div>
	Having trouble focusing at work? Blame the office.</div>
<div>
	&nbsp;</div>
<div>
	In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.</div>
<div>
	&nbsp;</div>
<div>
	Global design firm Gensler found that companies&rsquo; attempts to provide space for staff to collaborate&ndash; &nbsp;often via open-plan layouts or low cubicles&ndash;have compromised workers&rsquo; ability to concentrate. The study, which surveyed &nbsp;2,035 employees at a variety of firms, found that the most effective workplaces include both quiet spaces and collaborative areas, and give employees a choice of where they&rsquo;d like to work at any given time.</div>
<div>
	&nbsp;</div>
<div>
	In one surprising finding, workers are spending more time in focus work, such as reading email or writing code, than in previous years, despite office layouts that seem more conducive to group work. The researchers say that that poorer focus may mean it takes longer to complete thought-intensive tasks.</div>
<div>
	&nbsp;</div>
<div>
	Yet Gensler won&rsquo;t go so far as to say open-plan offices hinder workers&rsquo; prospects for getting work done&mdash;though plenty of employees say exactly that. (For one, companies love them because they usually consume less real estate than traditional cubicle farms.)</div>
<div>
	&nbsp;</div>
<div>
	Of course, even the workers lucky enough to have offices must struggle with digital distractions, says Diane Hoskins, an executive director of Gensler. Only 54% of those with private offices reported that their space is ideal for focusing effectively, while 38% of those in private offices reported that their concentration was often disturbed by others, the study found.</div>
<div>
	&nbsp;</div>
<div>
	The study bolstered the &ldquo;activity-based work&rdquo; movement, which holds that employees should choose different types of work environments &ndash; desks, caf&eacute;-like settings, meeting rooms &mdash; based on the type of tasks they are doing. &nbsp;At companies that give workers a choice of where to work, along with the tools for working remotely, employees were 12% more satisfied with their jobs than those at companies without remote-work options.</div>
<div>
	&nbsp;</div>
<div>
	Still, even employees given the choice to work where they liked tended to spend the bulk of their time&mdash;some 70%&ndash;in the office. <em>(http://blogs.wsj.com/atwork)</em></div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'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' => 'Having trouble focusing at work? Blame the office.

In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.',
			'sortorder' => '2175',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2331',
			'article_category_id' => '151',
			'title' => 'Practical Education  Of Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Master&rsquo;s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual&rsquo;s decision making ability.</div>
<div>
	&nbsp;</div>
<div>
	Nepal moved ahead for privatization from 1991 which resulted in an increase in economic activities in the country too. A number of private industries, companies, banks, and financial institutions were started with that. Similarly, activities in tourism sector and aviation also increased. The need for proper and effective management was felt after the number and responsibilities of these institutions increased. Soon, there was a high demand for people with proper management skills. MBA produced&nbsp;</div>
<div>
	that manpower.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The MBA programme was introduced in Nepal by Kathmandu University (KU) in 1993. Since then, the programme has supplied skilled manpower in the industrial and financial sectors. MBA has been the most demanded course among all the graduate programmes in the country. The demand for MBA graduates is high in the global market too due to the development witnessed in the financial and industrial sectors around the world. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With that, students&rsquo; attraction towards the course is also increasing every day. As a result, three other universities in Nepal namely Tribhuvan University, Purvanchal University, and Pokhara University have started teaching the MBA course over the past two decades. The degree has been very popular among students so far. &nbsp;Some colleges are also taking affiliations from foreign universities to run the programme.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With MBA gaining popularity among students and mid-career professionals, most organisations have made MBA degree almost compulsory to enter professional fields. Today an MBA graduate finds more opportunities that MBS, MA, or MED graduates. Education experts say MBA course helps one to become economically independent too. Likewise, it also helps in proper management of one&rsquo;s own lifestyle.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities</strong></span></div>
<div>
	MBA graduates are mostly found employed in the business sector. They are also found working in industries and non-profit institutions. They are also working as consultants for various organisations or as entrepreneurs themselves. Similarly, they can also work in the fields of accounting, advertising or business management too. Likewise, MBA graduates are also the first choice for positions like Chief Executive Officer, Corporate Communication Manager, Chief Information Manager, Finance Officer, and Loan Analyst. MBA graduates are sought after in the tourism and agriculture sectors in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	MBA graduates get jobs easily and faster than other degree holders. They make more money as well.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>EMBA&nbsp;</strong></span></div>
<div>
	The Executive Master&rsquo;s in Business Administration (EMBA) course is designed for professionals who are already working in the business fields. This course aims to increase and sharpen their professional skills. While, the MBA course is for the regular students, EMBA is for working professionals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One should have at least a bachelors&rsquo; degree and a minimum work experience (at least at an officer level), of a year with a government or non-government organisation to be eligible to pursue the EMBA course. EMBA course is in demand among people from the corporate sector.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Master’s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual’s decision making ability.',
			'sortorder' => '2174',
			'image' => null,
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	(int) 5 => array(
		'Article' => array(
			'id' => '2327',
			'article_category_id' => '144',
			'title' => 'Meaning Of Nepse Rise',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.</div>
<div>
	&nbsp;</div>
<div>
	The victory of pro-free market political parties in the election, decrease of interest rates in the banking system and the directive of Nepal Rastra Bank (NRB) to implement Basel-III in banks and financial institutions are some of the reasons behind the sudden rise in the stock market. Those who are skeptical about the rise are claiming that this is not a natural rise but the result of speculative investment by some &lsquo;players&rsquo; of the stock market as the reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some macroeconomic factors which suggest that the rise in the stock prices could be natural. For example, the latest manufacturing index shows that the manufacturing sector is growing. Similarly, the growth rate of the country&rsquo;s trade deficit has decreased significantly in the first four months of the current fiscal year as compared to the same period of the previous fiscal year. All political parties have, in their election manifestos, committed not to organize bandhs and general strikes in the days to come. This could have boosted the morale of the investors.</div>
<div>
	&nbsp;</div>
<div>
	The political parties now need to walk the talk. They should not organize any kinds of bandhs and general strikes. The people voted for a change in the elections held last month. Now the investors are supporting that change by showing their confidence in the stock market. The donor agencies and Nepal&rsquo;s development partners, too, should not support any kind of bandh or strike under any pretext.</div>
<div>
	&nbsp;</div>
<div>
	This, however, doesn&rsquo;t mean that the investors don&rsquo;t need to be watchful. The information disseminated by all media or newspapers about the rise in Nepse index may not be the gospel truth. Similarly, some information could be misunderstood. Therefore, investors &ndash; old and new ones alike &ndash; should carefully analyse all the information before they decide to sell or buy the shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this context, what the investors need to understand about NRB&rsquo;s directive regarding the implementation of Basel III &ndash; said to be one of the main reasons behind the rise in the price of banks&rsquo; shares &ndash; is that this is not an entirely new development. The central bank had introduced this concept three years back with the purpose of implementing it gradually. The implementation of Basel III doesn&rsquo;t mean that all banks and financial institutions have to raise their paid-up capital to Rs 5 billion. What Basel III means is the banks need to increase their capital adequacy. It doesn&rsquo;t mean that all banks must increase their paid-up capital. Similarly, the victory of the supporters of free market economy in the CA elections has certainly boosted the confidence of the general public and investors. This looks like one of the major reasons behind the rise in the Nepse index.</div>
<div>
	&nbsp;</div>
<div>
	However, the political equation of the next government to be formed is not clear yet. The economic policies to be adopted by the new government, too, are not clear, now. Therefore, it will not be wise to simply assume that the Nepse index will, like after the 2008 CA polls, cross the 1175 points this time too. Any investment on such an assumption could be risky; the investors should carefully analyse their risk-taking capacity and invest accordingly.</div>
<div>
	&nbsp;</div>
<div>
	Nevertheless, there is enough liquidity in the banking system at present, causing the interest rate on deposits to come down. So, the amount which would otherwise have gone to the banks in the form of deposits has come to the share market. On the other hand the demand for shares is more than the supply at present. Similarly, one of the fundamental indicators that is used to evaluate the market price of stocks is the Price-Earning (PE) ratio. Although the PE ratio of some listed companies is as high as 75 per cent, the average PE ration of most of the companies is around 20 percent which is natural. Therefore, the socio-economic condition of the country and the fundamental as well as technical indicators of the listed companies reveal that there is still the possibility of making money by investing in shares.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2329',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 43',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Visual Edit Vol 3 Issue 43',
			'sortorder' => '2172',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2328',
			'article_category_id' => '86',
			'title' => 'Pills And Colours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: &lsquo;The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	Businessman: &lsquo;It&rsquo;s all clear to me. I hope that pills also understand where they are supposed to go.&rsquo; <strong>&nbsp;-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: ‘The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?’',
			'sortorder' => '2171',
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		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
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			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2326',
			'article_category_id' => '145',
			'title' => 'Expanding Our Service Industry',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Dr Roop Jyoti</strong></div>
<div>
	&nbsp;</div>
<div>
	Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal&rsquo;s service industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Health is one such sector. Nepal has many qualified doctors who have studied at reputed national and foreign medical colleges and universities. Many of them have the experience of working abroad as well. Comparatively, hospitals and other medical institutions can be run at a much lower cost in Nepal than in other countries. The treatment cost at such hospitals, too, would be low. Also, Nepal&rsquo;s geography and climate are very suitable for such projects. Beautiful sceneries of mountains, lakes or green pastures of land will greet the eyes of those who will look outside the windows of the hospitals. This will give a lot of psychological and mental relief to the patients and encourage their families to spend some time here. Thus, it goes without saying that good hospitals which provide quality health services have a great scope in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	However, so far the state has not even thought about developing the health sector as an industry. Health centres and health posts have been established even in the far-flung villages but they lack skilled and well-trained human resource. Government hospitals are in a mess. However, there are a few well-equipped hospitals, thanks to the entry of the private sector in the health and medical care service. It is because of the presence of such private hospitals that the expats living in Nepal now don&rsquo;t have to rush to Bangkok or Singapore even for delivery cases!&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We can take Grande International Hospital as an example. Established recently, this hospital today serves not only Nepalis and the expat community living in Nepal but also foreigners who come here for treatment. This is because of the hospital&rsquo;s reasonable charges and quality service. This shows that a lot of foreigners will come to the Nepal for treatment if we can provide health services of international standard. On the other hand, Nepalis too won&rsquo;t have to go abroad for treatment. This will also boost our in-bound tourism.</div>
<div>
	&nbsp;</div>
<div>
	If we can establish medical colleges and universities of international standard, Nepalis won&rsquo;t have to go abroad to study medical science; instead foreign students will come here to study medical science. A number of foreign students are already coming to Nepal to study engineering and medical sciences. The reasons for this are Nepal&rsquo;s natural beauty and excellent climate, availability of enough patients for practical study and low cost of studies. Thus we can see that Nepal has great prospects as an international educational hub. For this to happen, if world-famous universities such as Cambridge and Harvard want to open their campuses in Nepal, they should be allowed to do so. This will provide opportunities to the Nepali students as well. The government has already taken a step towards this direction by allowing the Thailand-based Asian Institute of Technology (AIT) to open a satellite campus in Nepal. It&rsquo;s time for the government to devise a policy to address such issues in order to make Nepal an international educational hub. This will help strengthen the country&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	The government&rsquo;s focus must shift to employment creation. Supermarkets could be another sector for employment creation. As we are a small economy, our domestic production is low and we have to depend on import for the supply of most of the essential commodities we need. This is a bitter truth. So, we should relax our import policy and lower the customs duty on import to a minimum five percent. Such a relaxation in the import policy would help the country develop into a supermarket hub. The cost of labour and rent of shopping malls has been on a constant rise in global shopping hubs such as Singapore and Hong Kong. We should be able to benefit from this situation because of cheap labour, low import tariff and lower rents of shopping malls. We must build and develop supermarkets where goods from around the world are available at reasonable prices. The implementation of this concept would help strengthen our economy by attracting shopping tourism.</div>
<div>
	&nbsp;</div>
<div>
	Old age homes could be another pillar of our service industry. In the developed countries, parents and children start living separately once the latter start earning. As children do not have enough time for their old parents, the latter have to spend the rest of their lives in old age homes in the developed countries. The cost of personal care to such old people and rent of old age homes are higher in the developed world. Nepal&rsquo;s natural beauty and good weather conditions and the world famous Nepali hospitality are some of the major plus points in establishing old age homes here. Many foreign nationals, who have reached the fag end of their lives, are already living in Nepal. Thus, well-equipped old age homes could be a very good source of income for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some policy hurdles to move ahead in the above-mentioned service sectors. Foreign universities still face some accreditation related problems in Nepal. There are problems in issuing long-term residential visas to foreigners. These problems should be addressed without compromising our national interests. The process of issuing license to health institutions should be eased; hospitals and doctors should be allowed to use foreign medicines if needed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(The author is a former Minister of State for Finance. This is a TC translation of an article by the author published on Nov 29 issue of Aarthik Abhiyan daily.)&nbsp;</em></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' => 'Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal’s service industry.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2325',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) PR Candidate Arrested on Murder Charge</strong></span></div>
<div>
	Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Big parties violating CPA&rsquo;&nbsp;</strong></span></div>
<div>
	Senior CPN-Maoist leader Dev Gurung on December 17 accused the three major political parties - &nbsp; NC, CPN-UML and UCPN (Maoist) &ndash; of violating the 12-point agreement and the Comprehensive Peace Agreement (CPA). During a politburo meeting of the party, which boycotted the November 19 Constituent Assembly election, Gurung cited this as the reason why his party wouldn&rsquo;t participate in the Constituent Assembly. In the meeting held at party chairman Mohan Baidya&rsquo;s residence at Dhapasi, Gurung who is currently acting as the coordinator of the alliance of election boycotting parties, also accused the major political parties of acting under the direct influence of foreign forces.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Constitution within a Year: Nepal</strong></span></div>
<div>
	Former Prime Minister and senior leader of the CPN (UML) Madhav Kumar Nepal has said that one year from here on means enough time to promulgate the new constitution. Talking to media persons in Kathmandu on Dec 17, Nepal said his and other parties were trying to bring the disgruntled parties on board the constitution making process. &ldquo;We will exercise high flexibility for consensus,&rdquo; he said. Nepal also remarked that the extension of the deadline by a week for the parties to submit the Proportional Representation (PR) list to the Election Commission would help create conducive environment for consensus among parties. &ldquo;UML is ready to submit its PR list any time. To facilitate the process, UML central committee has delegated this task to the Standing Committee,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>India Stresses on Inclusive CA</strong></span></div>
<div>
	India, one of Nepal&rsquo;s immediate neighbours, has suggested ensuring the participation of all political parties, including those who boycotted the elections last month, in the second Constituent Assembly (CA). Talking to a group of visiting Nepali editors, Indian Minister for External Affairs, Salman Khursid, said that it would not be wise to keep the disgruntled political parties out of the constitution making process. &ldquo;The provision for proportional representation helps to include in the Constitution drafting process even those who lost in the election,&rdquo; he said, &ldquo;it is important that all parties participate in the constitution drafting process.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) to Join CA, not Govt</strong></span></div>
<div>
	UCPN (Maoist) Spokesperson Agni Sakpota has said that his party will join the Constituent Assembly (CA) but not the new government to be formed. &ldquo;We will join the CA,&rdquo; said Sakpota while speaking at a programme in the Capital on Friday,&rdquo; It was with the intention to join the CA that we had asked the Election Commission to extend the deadline for submitting the list of proportional representation.&rdquo; Sapkota also made it clear that his party would not join the government. &ldquo;We will not be part of the government. If it does well, we will support it from outside,&rdquo; he said.</div>',
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			'description' => 'Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2321',
			'article_category_id' => '137',
			'title' => 'Nepal And The World News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EU Stripped from AAA Credit Rating&nbsp;</strong></span></div>
<div>
	The European Union lost its top credit rating from Standard &amp; Poor&rsquo;s on Friday, which cited the deteriorating creditworthiness of the bloc&rsquo;s 28 member nations. S&amp;P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&amp;P last month lowered its AAA rating on the Netherlands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Buffett Adds $37 mn a Day to His Fortune in 2013</strong></span></div>
<div>
	American business magnate Warren Buffett made a fortune of about $37 million per day in 2013, according to Wealth-X, making him the billionaire who made the most money this year. With a gain of $12.7 billion in 2013, Buffett&rsquo;s net worth at the end of the year stands at $59.1 billion. Microsoft Chairman, Bill Gates, added $11.5 billion to his personal fortune in 2013, ending the year with assets totalling $72.6 billion. Gates is also the richest person on the list.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>GSK to Scrap Targets for Sales Reps</strong></span></div>
<div>
	GlaxoSmithKline will no longer reward sales staff based on how many drugs they sell, marking a big shift in the way the pharmaceutical industry deals with doctors. The British drugs giant said that the changes, which will be introduced from next year, come as GSK and other drugs firms face intense scrutiny in China over claims they bribed doctors to use their products.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Indian Markets Readies for Inflation-Link Bonds</strong></span></div>
<div>
	The Indian finance ministry announced the launch of inflation-linked bonds starting from Monday as part of its strategy to wean Indians away from gold by offering them a real rate of return that exceeds consumer price inflation (CPI). The Inflation Indexed National Savings Securities-Cumulative (IINSS-C) bonds will offer investors a return that&rsquo;s 1.5% more than inflation based on the consumer price index .</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>US Third-quarter Growth Raised to 4.1%&nbsp;</strong></span></div>
<div>
	The US economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained. Gross domestic product grew at a 4.1 per cent annual rate instead of the 3.6 per cent pace reported earlier this month, the Commerce Department said in its third estimate on Friday.</div>',
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			'description' => 'The European Union lost its top credit rating from Standard & Poor’s on Friday, which cited the deteriorating creditworthiness of the bloc’s 28 member nations. S&P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&P last month lowered its AAA rating on the Netherlands.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2319',
			'article_category_id' => '137',
			'title' => 'US Fed Reserve Dilutes Stimulus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases,&rdquo; the Fed said in a statement. The Fed decided to cut back on both types of bond purchases -- mortgage-backed securities and Treasuries -- by $5 billion per month each.The bond-buying program has become so large, it&rsquo;s expected to push the Fed&rsquo;s assets to $4 trillion this week -- money the Fed basically created out of thin air. The new cut represents the beginning of a gradual wind-down process which Wall Street has nicknamed &ldquo;tapering.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	But the complete end to Fed stimulus is still probably years away. Fed officials have been stressing lately that tapering does not mean &ldquo;tightening.&rdquo; In fact, the Fed extended its commitment to keep short-term interest rates &ldquo;exceptionally low&rdquo; until either the unemployment rate falls to around 6.5% or the inflation rate exceeds 2.5% a year. At a press conference immediately following the announcement, Bernanke stressed that the Fed&rsquo;s actions did not amount to a withdrawal of support for the economy. &ldquo;Nothing we did today was intended to reduce accommodation,&rdquo; he said. Most officials expect rates to rise in 2015, despite the fact that inflation will likely still be below the target at that point.</div>
<div>
	&nbsp;</div>
<div>
	Bernanke also explained that the Fed had &ldquo;enhanced&rdquo; its forward guidance on keeping interest rates low.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The committee is determined to avoid inflation that is too low, as well as inflation that is too high,&rdquo; Bernanke said. But rates will remain low for a while, so consumers can still expect to lock in historically cheap rates on mortgages, car or business loans, albeit probably not at the record lows seen earlier this year. Stocks jumped following the announcement, with the Dow gaining 200 points after the news.</div>
<div>
	&nbsp;</div>
<div>
	Traditionally, the Fed has used low interest rates to stimulate the economy in times of stress, but in the most recent financial crisis, it was forced to take unprecedented measures. First, the Fed slashed its key interest rate to near-zero in 2008. Next, in a program known as &ldquo;quantitative easing,&rdquo; or QE, the Fed started buying bonds like U.S. Treasuries and mortgage-backed securities in an attempt to lower long-term interest rates too. That second move came in three rounds that have since been nicknamed QE1, QE2 and QE3. Among them, QE3 was the only program that wasn&rsquo;t given an explicit end-date. Instead, the Fed said it was looking for substantial improvement in the job market.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Little Impact on Nepal</strong></p>
</div>
<div>
	In mid-2013 talks about the Fed&rsquo;s QE tapering had impacted Nepal while rattling the world markets. The US dollar soared to record high levels following Fed&rsquo;s indication that it will eventually put an end to the flow of cheap money in coming months. Nepal&rsquo;s economy, which is considered more insulated to international events (due to non-integration in the global market) also suffered from this. Nepali Rupee, which maintains exchange rate-peg with the Indian Rupee, was hardest hit by the QE taper woes. The weakening of INR caused Nepali Rupee to slide historically against the US dollar. The devaluation mainly contributed to Nepal&rsquo;s fast rising inflation rate and prices of imported good in the local market. The sharp devaluation of NPR initiated a debate, whether NPR should continue its exchange rate-peg with INR.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the scenario after the Fed&rsquo;s latest decision looks different compared to the mid-2013. Experts say that QE tapering might have little or no impact on Nepali economy. &ldquo;Compared to the scenario in May-June, Nepali economy is in more comfortable place,&rdquo; says Krishna Bahadur Manandhar, former Governor of Nepal Rastra Bank. According to him, the global financial markets seem to have adjusted their fears on QE tapering. The depreciation of Nepali rupee was caused by devaluation of INR against the US dollar. Problems within the Indian economy such as the widening current account deficit (CAD) and trade deficit were blamed as the main factors for currency weakening. Despite various obstacles, India has effectively managed to overcome these problems in recent months. &ldquo;With measures like hike in gold import duties, India has narrowed CAD and trade deficit,&rdquo; Manandhar said adding, &ldquo;India&rsquo;s forex reserve has also risen significantly in past seven months.&rdquo; He opines that these developments help to check the currency devaluation and spillover effects of Indian economy.&nbsp;</div>',
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			'description' => 'Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.',
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		'Article' => array(
			'id' => '2315',
			'article_category_id' => '91',
			'title' => 'IFC To Invest In Upper Marshyangdi II',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The 600 MW Upper Marsyangdi-2 Project is located on the Marsyangdi River, in the Manang and Lamjung districts of Nepal, which is already in an advanced stage of development. The Project is being currently undertaken through a Nepalese subsidiary of GMR Energy Limited, Himtal Hydropower Company Pvt Ltd, according to the press release issued by the company.</div>
<div>
	&nbsp;</div>
<div>
	GBS Raju, Chairman of Energy Business said, &ldquo;We are pleased to have IFC as our partners in the Upper Marsyangdi-2 Hydropower project. Apart from investing in the company, IFC will also bring its vast experience in financing similar large and complex Infrastructure Projects, which will add value to the Project. &nbsp;</div>
<div>
	We believe that with the continuous support of IBN, both GMR and IFC shall be able to implement this Project in an accelerated manner.&rdquo; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Cross-country Transmission line&nbsp;</div>
<div>
	A contract has been signed between Power Transmission Company Nepal (PTCN) and TATA Project Limited, India to construct Dhalkebar-Muzaffarpur cross-country transmission line of 400 kb. &ldquo;The construction work will be completed within 16 months of the mobilization of contractors,&rdquo; said Badri Narayan Shah, Project Manager of PTCN.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company will construct transmission line of 39.5 kilometers from Dhalkebar to Birtamod. With the construction of this transmission line the hydro business between Nepal and India is expected to develop as it would create easy import-export environment between both the countries.</div>',
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			'description' => 'GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.',
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			'id' => '2335',
			'article_category_id' => '109',
			'title' => 'NIC Asia Bank Announces Cash Dividend',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank&rsquo;s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December. The Bank posted net profit of Rs 642 million last year. The Earnings per Share (EPS) and Return on Equity (ROE) were Rs 47.41 and 14.63 per cent respectively. The Bank posted an operating profit of Rs 299 million in the first quarter of the current fiscal year.</div>',
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			'description' => 'NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank’s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December.',
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		'Article' => array(
			'id' => '2320',
			'article_category_id' => '138',
			'title' => 'Gold In Largest Annual Loss In 32 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That&#39;s the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It&#39;s also the first year-over-year decline in gold prices since 2000, according to FactSet.</div>
<div>
	&nbsp;</div>
<div>
	Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year&#39;s losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div>
<div>
	&nbsp;</div>
<div>
	Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div>
<div>
	&nbsp;</div>
<div>
	While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div>
<div>
	&nbsp;</div>
<div>
	The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div>
<div>
	&nbsp;</div>
<div>
	Inflation has been subdued all year and remains well below the Fed&#39;s target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div>
<div>
	&nbsp;</div>
<div>
	Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
</div>
<div>
	<span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div>
<div>
	Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed&rsquo;s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders also agree with this. &ldquo;Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,&rdquo; opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. &ldquo;Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,&rdquo; Shakya says. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Subdued demand of gold in domestic market is also seen as another factor affecting the bullion&rsquo;s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. &ldquo;Continuation of cash flow doesn&rsquo;t always fulfill the expectations of stock market,&rdquo; he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. &ldquo;Apart from equity market&rsquo;s performance, other sectors in Nepal aren&rsquo;t performing well,&rdquo; Shakya said adding, &ldquo;Investors are likely to return to gold after the stock market makes its adjustment in near term.&rdquo;</div>',
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			'description' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.',
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			'id' => '2333',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief ( 23 - 29 December 2013)',
			'sub_title' => '',
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			'content' => '<div>
	<span style="font-size: 14px;"><strong>TU&rsquo;s 39th Convocation on Poush 12&nbsp;</strong></span></div>
<div>
	The 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU&rsquo;sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>TU Publishes SOMAT Results</strong></span></div>
<div>
	Tribhuvan University Faculty of Management has published the result&nbsp;</div>
<div>
	of School of Management Admission Test (SOMAT-Spring 2014). The examination was held on 17th December, 2013.Selected students will participate in group discussions and make individual presentations to be organized at the School of Management&rsquo;s building within the University campus premises in Kirtipur.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Four Private Schools Closed in Chitwan</strong></span></div>
<div>
	Chitwan District Education Office ordered to close four private schools in Chitwan to close down as they were operating without taking permission. These schools are Adarsh English Boarding School and Buddha Shanti School of Chainpur, Chaturbhuj Boarding School of Dahkhani VDC, and Dipjyoti English Boarding School. The notice has directed the schools and concerned guardians to shift students to other schools.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Birendrangar Multiple Campus Brought under Mid-Western University</strong></span></div>
<div>
	The Birendrangar Multiple Campus (BMC), Surkhet, has been formally brought under the Mid-Western University (MWU) on Saturday, 14th December. The campus had been providing higher education to students for 30 years since its establishment in 1980 as a constituent college of the Tribhuvan University.</div>
<div>
	It was formally handed over to the MWU amid a special function on Saturday.Established with a fund of mere Rs 80,000, BMC handed over its property worth over Rs 160 million to the MWU. Bhusan Manandhar, Chairperson of the BMC&rsquo;s Management Committee, urged for maintaining academic legacy of the campus in the days to come while handing over BMC documents to the MWU Vice Chancellor Padam Lal Devkota. MWU was established four years ago.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Felicitation Programme by Apex Life School&nbsp;</strong></span></div>
<div>
	Apex Life School organized a felicitation programme on 17th December, Tuesday in the Buddha Hall of DAV School. The event supported Bagmati Cleaning Programme and focused on issues surrounding Clean Bagmati iniative. Speaking at the programme, Israel Ambassador, Hanan Goder-Goldberger, stressed on education as an important factor for bringing prosperity to Nepal. He stated that education is an investment for the society. The event was followed by series of entertainment programmes by the students of Apex Life School.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Book Launched</strong></span></div>
<div>
	On the occasion of 65th International Human Rights Day, South Western State College and Manav Adhikar Kadar Pratisthan launched a book &ldquo;Human Rights and Education Special Edition&rdquo;. The book was launched by the chairman of National Human Rights Commission, Kedarnath Upadhyay in a programme organised in the capital on Wednesday, December 18. Speaking at the programme, Upadhyay said that the country&rsquo;s democracy can be strengthened if Human Right is preserved. He also awarded winners of the inter college oratory competition organised to mark the occasion. Barsha Thapa of SouthWestern College had bagged the 1st prize in the competition.</div>',
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			'description' => 'The 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU’sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).',
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			'id' => '2332',
			'article_category_id' => '151',
			'title' => 'Is Your Office Making You Unproductive?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rachel Emma Silverman</strong></div>
<div>
	&nbsp;</div>
<div>
	Having trouble focusing at work? Blame the office.</div>
<div>
	&nbsp;</div>
<div>
	In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.</div>
<div>
	&nbsp;</div>
<div>
	Global design firm Gensler found that companies&rsquo; attempts to provide space for staff to collaborate&ndash; &nbsp;often via open-plan layouts or low cubicles&ndash;have compromised workers&rsquo; ability to concentrate. The study, which surveyed &nbsp;2,035 employees at a variety of firms, found that the most effective workplaces include both quiet spaces and collaborative areas, and give employees a choice of where they&rsquo;d like to work at any given time.</div>
<div>
	&nbsp;</div>
<div>
	In one surprising finding, workers are spending more time in focus work, such as reading email or writing code, than in previous years, despite office layouts that seem more conducive to group work. The researchers say that that poorer focus may mean it takes longer to complete thought-intensive tasks.</div>
<div>
	&nbsp;</div>
<div>
	Yet Gensler won&rsquo;t go so far as to say open-plan offices hinder workers&rsquo; prospects for getting work done&mdash;though plenty of employees say exactly that. (For one, companies love them because they usually consume less real estate than traditional cubicle farms.)</div>
<div>
	&nbsp;</div>
<div>
	Of course, even the workers lucky enough to have offices must struggle with digital distractions, says Diane Hoskins, an executive director of Gensler. Only 54% of those with private offices reported that their space is ideal for focusing effectively, while 38% of those in private offices reported that their concentration was often disturbed by others, the study found.</div>
<div>
	&nbsp;</div>
<div>
	The study bolstered the &ldquo;activity-based work&rdquo; movement, which holds that employees should choose different types of work environments &ndash; desks, caf&eacute;-like settings, meeting rooms &mdash; based on the type of tasks they are doing. &nbsp;At companies that give workers a choice of where to work, along with the tools for working remotely, employees were 12% more satisfied with their jobs than those at companies without remote-work options.</div>
<div>
	&nbsp;</div>
<div>
	Still, even employees given the choice to work where they liked tended to spend the bulk of their time&mdash;some 70%&ndash;in the office. <em>(http://blogs.wsj.com/atwork)</em></div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'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' => 'Having trouble focusing at work? Blame the office.

In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2331',
			'article_category_id' => '151',
			'title' => 'Practical Education  Of Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Master&rsquo;s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual&rsquo;s decision making ability.</div>
<div>
	&nbsp;</div>
<div>
	Nepal moved ahead for privatization from 1991 which resulted in an increase in economic activities in the country too. A number of private industries, companies, banks, and financial institutions were started with that. Similarly, activities in tourism sector and aviation also increased. The need for proper and effective management was felt after the number and responsibilities of these institutions increased. Soon, there was a high demand for people with proper management skills. MBA produced&nbsp;</div>
<div>
	that manpower.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The MBA programme was introduced in Nepal by Kathmandu University (KU) in 1993. Since then, the programme has supplied skilled manpower in the industrial and financial sectors. MBA has been the most demanded course among all the graduate programmes in the country. The demand for MBA graduates is high in the global market too due to the development witnessed in the financial and industrial sectors around the world. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With that, students&rsquo; attraction towards the course is also increasing every day. As a result, three other universities in Nepal namely Tribhuvan University, Purvanchal University, and Pokhara University have started teaching the MBA course over the past two decades. The degree has been very popular among students so far. &nbsp;Some colleges are also taking affiliations from foreign universities to run the programme.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With MBA gaining popularity among students and mid-career professionals, most organisations have made MBA degree almost compulsory to enter professional fields. Today an MBA graduate finds more opportunities that MBS, MA, or MED graduates. Education experts say MBA course helps one to become economically independent too. Likewise, it also helps in proper management of one&rsquo;s own lifestyle.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities</strong></span></div>
<div>
	MBA graduates are mostly found employed in the business sector. They are also found working in industries and non-profit institutions. They are also working as consultants for various organisations or as entrepreneurs themselves. Similarly, they can also work in the fields of accounting, advertising or business management too. Likewise, MBA graduates are also the first choice for positions like Chief Executive Officer, Corporate Communication Manager, Chief Information Manager, Finance Officer, and Loan Analyst. MBA graduates are sought after in the tourism and agriculture sectors in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	MBA graduates get jobs easily and faster than other degree holders. They make more money as well.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>EMBA&nbsp;</strong></span></div>
<div>
	The Executive Master&rsquo;s in Business Administration (EMBA) course is designed for professionals who are already working in the business fields. This course aims to increase and sharpen their professional skills. While, the MBA course is for the regular students, EMBA is for working professionals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One should have at least a bachelors&rsquo; degree and a minimum work experience (at least at an officer level), of a year with a government or non-government organisation to be eligible to pursue the EMBA course. EMBA course is in demand among people from the corporate sector.</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' => 'Master’s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual’s decision making ability.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2327',
			'article_category_id' => '144',
			'title' => 'Meaning Of Nepse Rise',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.</div>
<div>
	&nbsp;</div>
<div>
	The victory of pro-free market political parties in the election, decrease of interest rates in the banking system and the directive of Nepal Rastra Bank (NRB) to implement Basel-III in banks and financial institutions are some of the reasons behind the sudden rise in the stock market. Those who are skeptical about the rise are claiming that this is not a natural rise but the result of speculative investment by some &lsquo;players&rsquo; of the stock market as the reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some macroeconomic factors which suggest that the rise in the stock prices could be natural. For example, the latest manufacturing index shows that the manufacturing sector is growing. Similarly, the growth rate of the country&rsquo;s trade deficit has decreased significantly in the first four months of the current fiscal year as compared to the same period of the previous fiscal year. All political parties have, in their election manifestos, committed not to organize bandhs and general strikes in the days to come. This could have boosted the morale of the investors.</div>
<div>
	&nbsp;</div>
<div>
	The political parties now need to walk the talk. They should not organize any kinds of bandhs and general strikes. The people voted for a change in the elections held last month. Now the investors are supporting that change by showing their confidence in the stock market. The donor agencies and Nepal&rsquo;s development partners, too, should not support any kind of bandh or strike under any pretext.</div>
<div>
	&nbsp;</div>
<div>
	This, however, doesn&rsquo;t mean that the investors don&rsquo;t need to be watchful. The information disseminated by all media or newspapers about the rise in Nepse index may not be the gospel truth. Similarly, some information could be misunderstood. Therefore, investors &ndash; old and new ones alike &ndash; should carefully analyse all the information before they decide to sell or buy the shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this context, what the investors need to understand about NRB&rsquo;s directive regarding the implementation of Basel III &ndash; said to be one of the main reasons behind the rise in the price of banks&rsquo; shares &ndash; is that this is not an entirely new development. The central bank had introduced this concept three years back with the purpose of implementing it gradually. The implementation of Basel III doesn&rsquo;t mean that all banks and financial institutions have to raise their paid-up capital to Rs 5 billion. What Basel III means is the banks need to increase their capital adequacy. It doesn&rsquo;t mean that all banks must increase their paid-up capital. Similarly, the victory of the supporters of free market economy in the CA elections has certainly boosted the confidence of the general public and investors. This looks like one of the major reasons behind the rise in the Nepse index.</div>
<div>
	&nbsp;</div>
<div>
	However, the political equation of the next government to be formed is not clear yet. The economic policies to be adopted by the new government, too, are not clear, now. Therefore, it will not be wise to simply assume that the Nepse index will, like after the 2008 CA polls, cross the 1175 points this time too. Any investment on such an assumption could be risky; the investors should carefully analyse their risk-taking capacity and invest accordingly.</div>
<div>
	&nbsp;</div>
<div>
	Nevertheless, there is enough liquidity in the banking system at present, causing the interest rate on deposits to come down. So, the amount which would otherwise have gone to the banks in the form of deposits has come to the share market. On the other hand the demand for shares is more than the supply at present. Similarly, one of the fundamental indicators that is used to evaluate the market price of stocks is the Price-Earning (PE) ratio. Although the PE ratio of some listed companies is as high as 75 per cent, the average PE ration of most of the companies is around 20 percent which is natural. Therefore, the socio-economic condition of the country and the fundamental as well as technical indicators of the listed companies reveal that there is still the possibility of making money by investing in shares.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.',
			'sortorder' => '2173',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2329',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 43',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Visual Edit Vol 3 Issue 43',
			'sortorder' => '2172',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2328',
			'article_category_id' => '86',
			'title' => 'Pills And Colours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: &lsquo;The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	Businessman: &lsquo;It&rsquo;s all clear to me. I hope that pills also understand where they are supposed to go.&rsquo; <strong>&nbsp;-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: ‘The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?’',
			'sortorder' => '2171',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
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			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2326',
			'article_category_id' => '145',
			'title' => 'Expanding Our Service Industry',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Dr Roop Jyoti</strong></div>
<div>
	&nbsp;</div>
<div>
	Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal&rsquo;s service industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Health is one such sector. Nepal has many qualified doctors who have studied at reputed national and foreign medical colleges and universities. Many of them have the experience of working abroad as well. Comparatively, hospitals and other medical institutions can be run at a much lower cost in Nepal than in other countries. The treatment cost at such hospitals, too, would be low. Also, Nepal&rsquo;s geography and climate are very suitable for such projects. Beautiful sceneries of mountains, lakes or green pastures of land will greet the eyes of those who will look outside the windows of the hospitals. This will give a lot of psychological and mental relief to the patients and encourage their families to spend some time here. Thus, it goes without saying that good hospitals which provide quality health services have a great scope in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	However, so far the state has not even thought about developing the health sector as an industry. Health centres and health posts have been established even in the far-flung villages but they lack skilled and well-trained human resource. Government hospitals are in a mess. However, there are a few well-equipped hospitals, thanks to the entry of the private sector in the health and medical care service. It is because of the presence of such private hospitals that the expats living in Nepal now don&rsquo;t have to rush to Bangkok or Singapore even for delivery cases!&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We can take Grande International Hospital as an example. Established recently, this hospital today serves not only Nepalis and the expat community living in Nepal but also foreigners who come here for treatment. This is because of the hospital&rsquo;s reasonable charges and quality service. This shows that a lot of foreigners will come to the Nepal for treatment if we can provide health services of international standard. On the other hand, Nepalis too won&rsquo;t have to go abroad for treatment. This will also boost our in-bound tourism.</div>
<div>
	&nbsp;</div>
<div>
	If we can establish medical colleges and universities of international standard, Nepalis won&rsquo;t have to go abroad to study medical science; instead foreign students will come here to study medical science. A number of foreign students are already coming to Nepal to study engineering and medical sciences. The reasons for this are Nepal&rsquo;s natural beauty and excellent climate, availability of enough patients for practical study and low cost of studies. Thus we can see that Nepal has great prospects as an international educational hub. For this to happen, if world-famous universities such as Cambridge and Harvard want to open their campuses in Nepal, they should be allowed to do so. This will provide opportunities to the Nepali students as well. The government has already taken a step towards this direction by allowing the Thailand-based Asian Institute of Technology (AIT) to open a satellite campus in Nepal. It&rsquo;s time for the government to devise a policy to address such issues in order to make Nepal an international educational hub. This will help strengthen the country&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	The government&rsquo;s focus must shift to employment creation. Supermarkets could be another sector for employment creation. As we are a small economy, our domestic production is low and we have to depend on import for the supply of most of the essential commodities we need. This is a bitter truth. So, we should relax our import policy and lower the customs duty on import to a minimum five percent. Such a relaxation in the import policy would help the country develop into a supermarket hub. The cost of labour and rent of shopping malls has been on a constant rise in global shopping hubs such as Singapore and Hong Kong. We should be able to benefit from this situation because of cheap labour, low import tariff and lower rents of shopping malls. We must build and develop supermarkets where goods from around the world are available at reasonable prices. The implementation of this concept would help strengthen our economy by attracting shopping tourism.</div>
<div>
	&nbsp;</div>
<div>
	Old age homes could be another pillar of our service industry. In the developed countries, parents and children start living separately once the latter start earning. As children do not have enough time for their old parents, the latter have to spend the rest of their lives in old age homes in the developed countries. The cost of personal care to such old people and rent of old age homes are higher in the developed world. Nepal&rsquo;s natural beauty and good weather conditions and the world famous Nepali hospitality are some of the major plus points in establishing old age homes here. Many foreign nationals, who have reached the fag end of their lives, are already living in Nepal. Thus, well-equipped old age homes could be a very good source of income for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some policy hurdles to move ahead in the above-mentioned service sectors. Foreign universities still face some accreditation related problems in Nepal. There are problems in issuing long-term residential visas to foreigners. These problems should be addressed without compromising our national interests. The process of issuing license to health institutions should be eased; hospitals and doctors should be allowed to use foreign medicines if needed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(The author is a former Minister of State for Finance. This is a TC translation of an article by the author published on Nov 29 issue of Aarthik Abhiyan daily.)&nbsp;</em></div>',
			'published' => true,
			'created' => '2013-12-23',
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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' => 'Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal’s service industry.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2325',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) PR Candidate Arrested on Murder Charge</strong></span></div>
<div>
	Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Big parties violating CPA&rsquo;&nbsp;</strong></span></div>
<div>
	Senior CPN-Maoist leader Dev Gurung on December 17 accused the three major political parties - &nbsp; NC, CPN-UML and UCPN (Maoist) &ndash; of violating the 12-point agreement and the Comprehensive Peace Agreement (CPA). During a politburo meeting of the party, which boycotted the November 19 Constituent Assembly election, Gurung cited this as the reason why his party wouldn&rsquo;t participate in the Constituent Assembly. In the meeting held at party chairman Mohan Baidya&rsquo;s residence at Dhapasi, Gurung who is currently acting as the coordinator of the alliance of election boycotting parties, also accused the major political parties of acting under the direct influence of foreign forces.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Constitution within a Year: Nepal</strong></span></div>
<div>
	Former Prime Minister and senior leader of the CPN (UML) Madhav Kumar Nepal has said that one year from here on means enough time to promulgate the new constitution. Talking to media persons in Kathmandu on Dec 17, Nepal said his and other parties were trying to bring the disgruntled parties on board the constitution making process. &ldquo;We will exercise high flexibility for consensus,&rdquo; he said. Nepal also remarked that the extension of the deadline by a week for the parties to submit the Proportional Representation (PR) list to the Election Commission would help create conducive environment for consensus among parties. &ldquo;UML is ready to submit its PR list any time. To facilitate the process, UML central committee has delegated this task to the Standing Committee,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>India Stresses on Inclusive CA</strong></span></div>
<div>
	India, one of Nepal&rsquo;s immediate neighbours, has suggested ensuring the participation of all political parties, including those who boycotted the elections last month, in the second Constituent Assembly (CA). Talking to a group of visiting Nepali editors, Indian Minister for External Affairs, Salman Khursid, said that it would not be wise to keep the disgruntled political parties out of the constitution making process. &ldquo;The provision for proportional representation helps to include in the Constitution drafting process even those who lost in the election,&rdquo; he said, &ldquo;it is important that all parties participate in the constitution drafting process.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) to Join CA, not Govt</strong></span></div>
<div>
	UCPN (Maoist) Spokesperson Agni Sakpota has said that his party will join the Constituent Assembly (CA) but not the new government to be formed. &ldquo;We will join the CA,&rdquo; said Sakpota while speaking at a programme in the Capital on Friday,&rdquo; It was with the intention to join the CA that we had asked the Election Commission to extend the deadline for submitting the list of proportional representation.&rdquo; Sapkota also made it clear that his party would not join the government. &ldquo;We will not be part of the government. If it does well, we will support it from outside,&rdquo; he said.</div>',
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			'description' => 'Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2321',
			'article_category_id' => '137',
			'title' => 'Nepal And The World News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EU Stripped from AAA Credit Rating&nbsp;</strong></span></div>
<div>
	The European Union lost its top credit rating from Standard &amp; Poor&rsquo;s on Friday, which cited the deteriorating creditworthiness of the bloc&rsquo;s 28 member nations. S&amp;P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&amp;P last month lowered its AAA rating on the Netherlands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Buffett Adds $37 mn a Day to His Fortune in 2013</strong></span></div>
<div>
	American business magnate Warren Buffett made a fortune of about $37 million per day in 2013, according to Wealth-X, making him the billionaire who made the most money this year. With a gain of $12.7 billion in 2013, Buffett&rsquo;s net worth at the end of the year stands at $59.1 billion. Microsoft Chairman, Bill Gates, added $11.5 billion to his personal fortune in 2013, ending the year with assets totalling $72.6 billion. Gates is also the richest person on the list.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>GSK to Scrap Targets for Sales Reps</strong></span></div>
<div>
	GlaxoSmithKline will no longer reward sales staff based on how many drugs they sell, marking a big shift in the way the pharmaceutical industry deals with doctors. The British drugs giant said that the changes, which will be introduced from next year, come as GSK and other drugs firms face intense scrutiny in China over claims they bribed doctors to use their products.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Indian Markets Readies for Inflation-Link Bonds</strong></span></div>
<div>
	The Indian finance ministry announced the launch of inflation-linked bonds starting from Monday as part of its strategy to wean Indians away from gold by offering them a real rate of return that exceeds consumer price inflation (CPI). The Inflation Indexed National Savings Securities-Cumulative (IINSS-C) bonds will offer investors a return that&rsquo;s 1.5% more than inflation based on the consumer price index .</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>US Third-quarter Growth Raised to 4.1%&nbsp;</strong></span></div>
<div>
	The US economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained. Gross domestic product grew at a 4.1 per cent annual rate instead of the 3.6 per cent pace reported earlier this month, the Commerce Department said in its third estimate on Friday.</div>',
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			'description' => 'The European Union lost its top credit rating from Standard & Poor’s on Friday, which cited the deteriorating creditworthiness of the bloc’s 28 member nations. S&P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&P last month lowered its AAA rating on the Netherlands.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2319',
			'article_category_id' => '137',
			'title' => 'US Fed Reserve Dilutes Stimulus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases,&rdquo; the Fed said in a statement. The Fed decided to cut back on both types of bond purchases -- mortgage-backed securities and Treasuries -- by $5 billion per month each.The bond-buying program has become so large, it&rsquo;s expected to push the Fed&rsquo;s assets to $4 trillion this week -- money the Fed basically created out of thin air. The new cut represents the beginning of a gradual wind-down process which Wall Street has nicknamed &ldquo;tapering.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	But the complete end to Fed stimulus is still probably years away. Fed officials have been stressing lately that tapering does not mean &ldquo;tightening.&rdquo; In fact, the Fed extended its commitment to keep short-term interest rates &ldquo;exceptionally low&rdquo; until either the unemployment rate falls to around 6.5% or the inflation rate exceeds 2.5% a year. At a press conference immediately following the announcement, Bernanke stressed that the Fed&rsquo;s actions did not amount to a withdrawal of support for the economy. &ldquo;Nothing we did today was intended to reduce accommodation,&rdquo; he said. Most officials expect rates to rise in 2015, despite the fact that inflation will likely still be below the target at that point.</div>
<div>
	&nbsp;</div>
<div>
	Bernanke also explained that the Fed had &ldquo;enhanced&rdquo; its forward guidance on keeping interest rates low.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The committee is determined to avoid inflation that is too low, as well as inflation that is too high,&rdquo; Bernanke said. But rates will remain low for a while, so consumers can still expect to lock in historically cheap rates on mortgages, car or business loans, albeit probably not at the record lows seen earlier this year. Stocks jumped following the announcement, with the Dow gaining 200 points after the news.</div>
<div>
	&nbsp;</div>
<div>
	Traditionally, the Fed has used low interest rates to stimulate the economy in times of stress, but in the most recent financial crisis, it was forced to take unprecedented measures. First, the Fed slashed its key interest rate to near-zero in 2008. Next, in a program known as &ldquo;quantitative easing,&rdquo; or QE, the Fed started buying bonds like U.S. Treasuries and mortgage-backed securities in an attempt to lower long-term interest rates too. That second move came in three rounds that have since been nicknamed QE1, QE2 and QE3. Among them, QE3 was the only program that wasn&rsquo;t given an explicit end-date. Instead, the Fed said it was looking for substantial improvement in the job market.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Little Impact on Nepal</strong></p>
</div>
<div>
	In mid-2013 talks about the Fed&rsquo;s QE tapering had impacted Nepal while rattling the world markets. The US dollar soared to record high levels following Fed&rsquo;s indication that it will eventually put an end to the flow of cheap money in coming months. Nepal&rsquo;s economy, which is considered more insulated to international events (due to non-integration in the global market) also suffered from this. Nepali Rupee, which maintains exchange rate-peg with the Indian Rupee, was hardest hit by the QE taper woes. The weakening of INR caused Nepali Rupee to slide historically against the US dollar. The devaluation mainly contributed to Nepal&rsquo;s fast rising inflation rate and prices of imported good in the local market. The sharp devaluation of NPR initiated a debate, whether NPR should continue its exchange rate-peg with INR.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the scenario after the Fed&rsquo;s latest decision looks different compared to the mid-2013. Experts say that QE tapering might have little or no impact on Nepali economy. &ldquo;Compared to the scenario in May-June, Nepali economy is in more comfortable place,&rdquo; says Krishna Bahadur Manandhar, former Governor of Nepal Rastra Bank. According to him, the global financial markets seem to have adjusted their fears on QE tapering. The depreciation of Nepali rupee was caused by devaluation of INR against the US dollar. Problems within the Indian economy such as the widening current account deficit (CAD) and trade deficit were blamed as the main factors for currency weakening. Despite various obstacles, India has effectively managed to overcome these problems in recent months. &ldquo;With measures like hike in gold import duties, India has narrowed CAD and trade deficit,&rdquo; Manandhar said adding, &ldquo;India&rsquo;s forex reserve has also risen significantly in past seven months.&rdquo; He opines that these developments help to check the currency devaluation and spillover effects of Indian economy.&nbsp;</div>',
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			'description' => 'Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.',
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		'Article' => array(
			'id' => '2315',
			'article_category_id' => '91',
			'title' => 'IFC To Invest In Upper Marshyangdi II',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The 600 MW Upper Marsyangdi-2 Project is located on the Marsyangdi River, in the Manang and Lamjung districts of Nepal, which is already in an advanced stage of development. The Project is being currently undertaken through a Nepalese subsidiary of GMR Energy Limited, Himtal Hydropower Company Pvt Ltd, according to the press release issued by the company.</div>
<div>
	&nbsp;</div>
<div>
	GBS Raju, Chairman of Energy Business said, &ldquo;We are pleased to have IFC as our partners in the Upper Marsyangdi-2 Hydropower project. Apart from investing in the company, IFC will also bring its vast experience in financing similar large and complex Infrastructure Projects, which will add value to the Project. &nbsp;</div>
<div>
	We believe that with the continuous support of IBN, both GMR and IFC shall be able to implement this Project in an accelerated manner.&rdquo; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Cross-country Transmission line&nbsp;</div>
<div>
	A contract has been signed between Power Transmission Company Nepal (PTCN) and TATA Project Limited, India to construct Dhalkebar-Muzaffarpur cross-country transmission line of 400 kb. &ldquo;The construction work will be completed within 16 months of the mobilization of contractors,&rdquo; said Badri Narayan Shah, Project Manager of PTCN.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company will construct transmission line of 39.5 kilometers from Dhalkebar to Birtamod. With the construction of this transmission line the hydro business between Nepal and India is expected to develop as it would create easy import-export environment between both the countries.</div>',
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			'description' => 'GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.',
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			'id' => '2335',
			'article_category_id' => '109',
			'title' => 'NIC Asia Bank Announces Cash Dividend',
			'sub_title' => '',
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	NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank&rsquo;s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December. The Bank posted net profit of Rs 642 million last year. The Earnings per Share (EPS) and Return on Equity (ROE) were Rs 47.41 and 14.63 per cent respectively. The Bank posted an operating profit of Rs 299 million in the first quarter of the current fiscal year.</div>',
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			'description' => 'NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank’s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December.',
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			'id' => '2320',
			'article_category_id' => '138',
			'title' => 'Gold In Largest Annual Loss In 32 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That&#39;s the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It&#39;s also the first year-over-year decline in gold prices since 2000, according to FactSet.</div>
<div>
	&nbsp;</div>
<div>
	Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year&#39;s losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div>
<div>
	&nbsp;</div>
<div>
	Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div>
<div>
	&nbsp;</div>
<div>
	While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div>
<div>
	&nbsp;</div>
<div>
	The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div>
<div>
	&nbsp;</div>
<div>
	Inflation has been subdued all year and remains well below the Fed&#39;s target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div>
<div>
	&nbsp;</div>
<div>
	Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
</div>
<div>
	<span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div>
<div>
	Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed&rsquo;s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders also agree with this. &ldquo;Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,&rdquo; opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. &ldquo;Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,&rdquo; Shakya says. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Subdued demand of gold in domestic market is also seen as another factor affecting the bullion&rsquo;s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. &ldquo;Continuation of cash flow doesn&rsquo;t always fulfill the expectations of stock market,&rdquo; he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. &ldquo;Apart from equity market&rsquo;s performance, other sectors in Nepal aren&rsquo;t performing well,&rdquo; Shakya said adding, &ldquo;Investors are likely to return to gold after the stock market makes its adjustment in near term.&rdquo;</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-30',
			'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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.',
			'sortorder' => '2177',
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	(int) 2 => array(
		'Article' => array(
			'id' => '2333',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief ( 23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 14px;"><strong>TU&rsquo;s 39th Convocation on Poush 12&nbsp;</strong></span></div>
<div>
	The 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU&rsquo;sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>TU Publishes SOMAT Results</strong></span></div>
<div>
	Tribhuvan University Faculty of Management has published the result&nbsp;</div>
<div>
	of School of Management Admission Test (SOMAT-Spring 2014). The examination was held on 17th December, 2013.Selected students will participate in group discussions and make individual presentations to be organized at the School of Management&rsquo;s building within the University campus premises in Kirtipur.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Four Private Schools Closed in Chitwan</strong></span></div>
<div>
	Chitwan District Education Office ordered to close four private schools in Chitwan to close down as they were operating without taking permission. These schools are Adarsh English Boarding School and Buddha Shanti School of Chainpur, Chaturbhuj Boarding School of Dahkhani VDC, and Dipjyoti English Boarding School. The notice has directed the schools and concerned guardians to shift students to other schools.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Birendrangar Multiple Campus Brought under Mid-Western University</strong></span></div>
<div>
	The Birendrangar Multiple Campus (BMC), Surkhet, has been formally brought under the Mid-Western University (MWU) on Saturday, 14th December. The campus had been providing higher education to students for 30 years since its establishment in 1980 as a constituent college of the Tribhuvan University.</div>
<div>
	It was formally handed over to the MWU amid a special function on Saturday.Established with a fund of mere Rs 80,000, BMC handed over its property worth over Rs 160 million to the MWU. Bhusan Manandhar, Chairperson of the BMC&rsquo;s Management Committee, urged for maintaining academic legacy of the campus in the days to come while handing over BMC documents to the MWU Vice Chancellor Padam Lal Devkota. MWU was established four years ago.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Felicitation Programme by Apex Life School&nbsp;</strong></span></div>
<div>
	Apex Life School organized a felicitation programme on 17th December, Tuesday in the Buddha Hall of DAV School. The event supported Bagmati Cleaning Programme and focused on issues surrounding Clean Bagmati iniative. Speaking at the programme, Israel Ambassador, Hanan Goder-Goldberger, stressed on education as an important factor for bringing prosperity to Nepal. He stated that education is an investment for the society. The event was followed by series of entertainment programmes by the students of Apex Life School.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Book Launched</strong></span></div>
<div>
	On the occasion of 65th International Human Rights Day, South Western State College and Manav Adhikar Kadar Pratisthan launched a book &ldquo;Human Rights and Education Special Edition&rdquo;. The book was launched by the chairman of National Human Rights Commission, Kedarnath Upadhyay in a programme organised in the capital on Wednesday, December 18. Speaking at the programme, Upadhyay said that the country&rsquo;s democracy can be strengthened if Human Right is preserved. He also awarded winners of the inter college oratory competition organised to mark the occasion. Barsha Thapa of SouthWestern College had bagged the 1st prize in the competition.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU’sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).',
			'sortorder' => '2176',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2332',
			'article_category_id' => '151',
			'title' => 'Is Your Office Making You Unproductive?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rachel Emma Silverman</strong></div>
<div>
	&nbsp;</div>
<div>
	Having trouble focusing at work? Blame the office.</div>
<div>
	&nbsp;</div>
<div>
	In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.</div>
<div>
	&nbsp;</div>
<div>
	Global design firm Gensler found that companies&rsquo; attempts to provide space for staff to collaborate&ndash; &nbsp;often via open-plan layouts or low cubicles&ndash;have compromised workers&rsquo; ability to concentrate. The study, which surveyed &nbsp;2,035 employees at a variety of firms, found that the most effective workplaces include both quiet spaces and collaborative areas, and give employees a choice of where they&rsquo;d like to work at any given time.</div>
<div>
	&nbsp;</div>
<div>
	In one surprising finding, workers are spending more time in focus work, such as reading email or writing code, than in previous years, despite office layouts that seem more conducive to group work. The researchers say that that poorer focus may mean it takes longer to complete thought-intensive tasks.</div>
<div>
	&nbsp;</div>
<div>
	Yet Gensler won&rsquo;t go so far as to say open-plan offices hinder workers&rsquo; prospects for getting work done&mdash;though plenty of employees say exactly that. (For one, companies love them because they usually consume less real estate than traditional cubicle farms.)</div>
<div>
	&nbsp;</div>
<div>
	Of course, even the workers lucky enough to have offices must struggle with digital distractions, says Diane Hoskins, an executive director of Gensler. Only 54% of those with private offices reported that their space is ideal for focusing effectively, while 38% of those in private offices reported that their concentration was often disturbed by others, the study found.</div>
<div>
	&nbsp;</div>
<div>
	The study bolstered the &ldquo;activity-based work&rdquo; movement, which holds that employees should choose different types of work environments &ndash; desks, caf&eacute;-like settings, meeting rooms &mdash; based on the type of tasks they are doing. &nbsp;At companies that give workers a choice of where to work, along with the tools for working remotely, employees were 12% more satisfied with their jobs than those at companies without remote-work options.</div>
<div>
	&nbsp;</div>
<div>
	Still, even employees given the choice to work where they liked tended to spend the bulk of their time&mdash;some 70%&ndash;in the office. <em>(http://blogs.wsj.com/atwork)</em></div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'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' => 'Having trouble focusing at work? Blame the office.

In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.',
			'sortorder' => '2175',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2331',
			'article_category_id' => '151',
			'title' => 'Practical Education  Of Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Master&rsquo;s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual&rsquo;s decision making ability.</div>
<div>
	&nbsp;</div>
<div>
	Nepal moved ahead for privatization from 1991 which resulted in an increase in economic activities in the country too. A number of private industries, companies, banks, and financial institutions were started with that. Similarly, activities in tourism sector and aviation also increased. The need for proper and effective management was felt after the number and responsibilities of these institutions increased. Soon, there was a high demand for people with proper management skills. MBA produced&nbsp;</div>
<div>
	that manpower.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The MBA programme was introduced in Nepal by Kathmandu University (KU) in 1993. Since then, the programme has supplied skilled manpower in the industrial and financial sectors. MBA has been the most demanded course among all the graduate programmes in the country. The demand for MBA graduates is high in the global market too due to the development witnessed in the financial and industrial sectors around the world. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With that, students&rsquo; attraction towards the course is also increasing every day. As a result, three other universities in Nepal namely Tribhuvan University, Purvanchal University, and Pokhara University have started teaching the MBA course over the past two decades. The degree has been very popular among students so far. &nbsp;Some colleges are also taking affiliations from foreign universities to run the programme.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With MBA gaining popularity among students and mid-career professionals, most organisations have made MBA degree almost compulsory to enter professional fields. Today an MBA graduate finds more opportunities that MBS, MA, or MED graduates. Education experts say MBA course helps one to become economically independent too. Likewise, it also helps in proper management of one&rsquo;s own lifestyle.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities</strong></span></div>
<div>
	MBA graduates are mostly found employed in the business sector. They are also found working in industries and non-profit institutions. They are also working as consultants for various organisations or as entrepreneurs themselves. Similarly, they can also work in the fields of accounting, advertising or business management too. Likewise, MBA graduates are also the first choice for positions like Chief Executive Officer, Corporate Communication Manager, Chief Information Manager, Finance Officer, and Loan Analyst. MBA graduates are sought after in the tourism and agriculture sectors in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	MBA graduates get jobs easily and faster than other degree holders. They make more money as well.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>EMBA&nbsp;</strong></span></div>
<div>
	The Executive Master&rsquo;s in Business Administration (EMBA) course is designed for professionals who are already working in the business fields. This course aims to increase and sharpen their professional skills. While, the MBA course is for the regular students, EMBA is for working professionals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One should have at least a bachelors&rsquo; degree and a minimum work experience (at least at an officer level), of a year with a government or non-government organisation to be eligible to pursue the EMBA course. EMBA course is in demand among people from the corporate sector.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Master’s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual’s decision making ability.',
			'sortorder' => '2174',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2327',
			'article_category_id' => '144',
			'title' => 'Meaning Of Nepse Rise',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.</div>
<div>
	&nbsp;</div>
<div>
	The victory of pro-free market political parties in the election, decrease of interest rates in the banking system and the directive of Nepal Rastra Bank (NRB) to implement Basel-III in banks and financial institutions are some of the reasons behind the sudden rise in the stock market. Those who are skeptical about the rise are claiming that this is not a natural rise but the result of speculative investment by some &lsquo;players&rsquo; of the stock market as the reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some macroeconomic factors which suggest that the rise in the stock prices could be natural. For example, the latest manufacturing index shows that the manufacturing sector is growing. Similarly, the growth rate of the country&rsquo;s trade deficit has decreased significantly in the first four months of the current fiscal year as compared to the same period of the previous fiscal year. All political parties have, in their election manifestos, committed not to organize bandhs and general strikes in the days to come. This could have boosted the morale of the investors.</div>
<div>
	&nbsp;</div>
<div>
	The political parties now need to walk the talk. They should not organize any kinds of bandhs and general strikes. The people voted for a change in the elections held last month. Now the investors are supporting that change by showing their confidence in the stock market. The donor agencies and Nepal&rsquo;s development partners, too, should not support any kind of bandh or strike under any pretext.</div>
<div>
	&nbsp;</div>
<div>
	This, however, doesn&rsquo;t mean that the investors don&rsquo;t need to be watchful. The information disseminated by all media or newspapers about the rise in Nepse index may not be the gospel truth. Similarly, some information could be misunderstood. Therefore, investors &ndash; old and new ones alike &ndash; should carefully analyse all the information before they decide to sell or buy the shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this context, what the investors need to understand about NRB&rsquo;s directive regarding the implementation of Basel III &ndash; said to be one of the main reasons behind the rise in the price of banks&rsquo; shares &ndash; is that this is not an entirely new development. The central bank had introduced this concept three years back with the purpose of implementing it gradually. The implementation of Basel III doesn&rsquo;t mean that all banks and financial institutions have to raise their paid-up capital to Rs 5 billion. What Basel III means is the banks need to increase their capital adequacy. It doesn&rsquo;t mean that all banks must increase their paid-up capital. Similarly, the victory of the supporters of free market economy in the CA elections has certainly boosted the confidence of the general public and investors. This looks like one of the major reasons behind the rise in the Nepse index.</div>
<div>
	&nbsp;</div>
<div>
	However, the political equation of the next government to be formed is not clear yet. The economic policies to be adopted by the new government, too, are not clear, now. Therefore, it will not be wise to simply assume that the Nepse index will, like after the 2008 CA polls, cross the 1175 points this time too. Any investment on such an assumption could be risky; the investors should carefully analyse their risk-taking capacity and invest accordingly.</div>
<div>
	&nbsp;</div>
<div>
	Nevertheless, there is enough liquidity in the banking system at present, causing the interest rate on deposits to come down. So, the amount which would otherwise have gone to the banks in the form of deposits has come to the share market. On the other hand the demand for shares is more than the supply at present. Similarly, one of the fundamental indicators that is used to evaluate the market price of stocks is the Price-Earning (PE) ratio. Although the PE ratio of some listed companies is as high as 75 per cent, the average PE ration of most of the companies is around 20 percent which is natural. Therefore, the socio-economic condition of the country and the fundamental as well as technical indicators of the listed companies reveal that there is still the possibility of making money by investing in shares.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.',
			'sortorder' => '2173',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2329',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 43',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Visual Edit Vol 3 Issue 43',
			'sortorder' => '2172',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 7 => array(
		'Article' => array(
			'id' => '2328',
			'article_category_id' => '86',
			'title' => 'Pills And Colours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: &lsquo;The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	Businessman: &lsquo;It&rsquo;s all clear to me. I hope that pills also understand where they are supposed to go.&rsquo; <strong>&nbsp;-ML</strong></div>
<div>
	&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: ‘The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?’',
			'sortorder' => '2171',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
			'sortorder' => '2170',
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			'id' => '2326',
			'article_category_id' => '145',
			'title' => 'Expanding Our Service Industry',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Dr Roop Jyoti</strong></div>
<div>
	&nbsp;</div>
<div>
	Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal&rsquo;s service industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Health is one such sector. Nepal has many qualified doctors who have studied at reputed national and foreign medical colleges and universities. Many of them have the experience of working abroad as well. Comparatively, hospitals and other medical institutions can be run at a much lower cost in Nepal than in other countries. The treatment cost at such hospitals, too, would be low. Also, Nepal&rsquo;s geography and climate are very suitable for such projects. Beautiful sceneries of mountains, lakes or green pastures of land will greet the eyes of those who will look outside the windows of the hospitals. This will give a lot of psychological and mental relief to the patients and encourage their families to spend some time here. Thus, it goes without saying that good hospitals which provide quality health services have a great scope in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	However, so far the state has not even thought about developing the health sector as an industry. Health centres and health posts have been established even in the far-flung villages but they lack skilled and well-trained human resource. Government hospitals are in a mess. However, there are a few well-equipped hospitals, thanks to the entry of the private sector in the health and medical care service. It is because of the presence of such private hospitals that the expats living in Nepal now don&rsquo;t have to rush to Bangkok or Singapore even for delivery cases!&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We can take Grande International Hospital as an example. Established recently, this hospital today serves not only Nepalis and the expat community living in Nepal but also foreigners who come here for treatment. This is because of the hospital&rsquo;s reasonable charges and quality service. This shows that a lot of foreigners will come to the Nepal for treatment if we can provide health services of international standard. On the other hand, Nepalis too won&rsquo;t have to go abroad for treatment. This will also boost our in-bound tourism.</div>
<div>
	&nbsp;</div>
<div>
	If we can establish medical colleges and universities of international standard, Nepalis won&rsquo;t have to go abroad to study medical science; instead foreign students will come here to study medical science. A number of foreign students are already coming to Nepal to study engineering and medical sciences. The reasons for this are Nepal&rsquo;s natural beauty and excellent climate, availability of enough patients for practical study and low cost of studies. Thus we can see that Nepal has great prospects as an international educational hub. For this to happen, if world-famous universities such as Cambridge and Harvard want to open their campuses in Nepal, they should be allowed to do so. This will provide opportunities to the Nepali students as well. The government has already taken a step towards this direction by allowing the Thailand-based Asian Institute of Technology (AIT) to open a satellite campus in Nepal. It&rsquo;s time for the government to devise a policy to address such issues in order to make Nepal an international educational hub. This will help strengthen the country&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	The government&rsquo;s focus must shift to employment creation. Supermarkets could be another sector for employment creation. As we are a small economy, our domestic production is low and we have to depend on import for the supply of most of the essential commodities we need. This is a bitter truth. So, we should relax our import policy and lower the customs duty on import to a minimum five percent. Such a relaxation in the import policy would help the country develop into a supermarket hub. The cost of labour and rent of shopping malls has been on a constant rise in global shopping hubs such as Singapore and Hong Kong. We should be able to benefit from this situation because of cheap labour, low import tariff and lower rents of shopping malls. We must build and develop supermarkets where goods from around the world are available at reasonable prices. The implementation of this concept would help strengthen our economy by attracting shopping tourism.</div>
<div>
	&nbsp;</div>
<div>
	Old age homes could be another pillar of our service industry. In the developed countries, parents and children start living separately once the latter start earning. As children do not have enough time for their old parents, the latter have to spend the rest of their lives in old age homes in the developed countries. The cost of personal care to such old people and rent of old age homes are higher in the developed world. Nepal&rsquo;s natural beauty and good weather conditions and the world famous Nepali hospitality are some of the major plus points in establishing old age homes here. Many foreign nationals, who have reached the fag end of their lives, are already living in Nepal. Thus, well-equipped old age homes could be a very good source of income for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some policy hurdles to move ahead in the above-mentioned service sectors. Foreign universities still face some accreditation related problems in Nepal. There are problems in issuing long-term residential visas to foreigners. These problems should be addressed without compromising our national interests. The process of issuing license to health institutions should be eased; hospitals and doctors should be allowed to use foreign medicines if needed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(The author is a former Minister of State for Finance. This is a TC translation of an article by the author published on Nov 29 issue of Aarthik Abhiyan daily.)&nbsp;</em></div>',
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			'description' => 'Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal’s service industry.',
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		'Article' => array(
			'id' => '2325',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) PR Candidate Arrested on Murder Charge</strong></span></div>
<div>
	Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Big parties violating CPA&rsquo;&nbsp;</strong></span></div>
<div>
	Senior CPN-Maoist leader Dev Gurung on December 17 accused the three major political parties - &nbsp; NC, CPN-UML and UCPN (Maoist) &ndash; of violating the 12-point agreement and the Comprehensive Peace Agreement (CPA). During a politburo meeting of the party, which boycotted the November 19 Constituent Assembly election, Gurung cited this as the reason why his party wouldn&rsquo;t participate in the Constituent Assembly. In the meeting held at party chairman Mohan Baidya&rsquo;s residence at Dhapasi, Gurung who is currently acting as the coordinator of the alliance of election boycotting parties, also accused the major political parties of acting under the direct influence of foreign forces.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Constitution within a Year: Nepal</strong></span></div>
<div>
	Former Prime Minister and senior leader of the CPN (UML) Madhav Kumar Nepal has said that one year from here on means enough time to promulgate the new constitution. Talking to media persons in Kathmandu on Dec 17, Nepal said his and other parties were trying to bring the disgruntled parties on board the constitution making process. &ldquo;We will exercise high flexibility for consensus,&rdquo; he said. Nepal also remarked that the extension of the deadline by a week for the parties to submit the Proportional Representation (PR) list to the Election Commission would help create conducive environment for consensus among parties. &ldquo;UML is ready to submit its PR list any time. To facilitate the process, UML central committee has delegated this task to the Standing Committee,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>India Stresses on Inclusive CA</strong></span></div>
<div>
	India, one of Nepal&rsquo;s immediate neighbours, has suggested ensuring the participation of all political parties, including those who boycotted the elections last month, in the second Constituent Assembly (CA). Talking to a group of visiting Nepali editors, Indian Minister for External Affairs, Salman Khursid, said that it would not be wise to keep the disgruntled political parties out of the constitution making process. &ldquo;The provision for proportional representation helps to include in the Constitution drafting process even those who lost in the election,&rdquo; he said, &ldquo;it is important that all parties participate in the constitution drafting process.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) to Join CA, not Govt</strong></span></div>
<div>
	UCPN (Maoist) Spokesperson Agni Sakpota has said that his party will join the Constituent Assembly (CA) but not the new government to be formed. &ldquo;We will join the CA,&rdquo; said Sakpota while speaking at a programme in the Capital on Friday,&rdquo; It was with the intention to join the CA that we had asked the Election Commission to extend the deadline for submitting the list of proportional representation.&rdquo; Sapkota also made it clear that his party would not join the government. &ldquo;We will not be part of the government. If it does well, we will support it from outside,&rdquo; he said.</div>',
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			'description' => 'Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.',
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		'Article' => array(
			'id' => '2321',
			'article_category_id' => '137',
			'title' => 'Nepal And The World News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EU Stripped from AAA Credit Rating&nbsp;</strong></span></div>
<div>
	The European Union lost its top credit rating from Standard &amp; Poor&rsquo;s on Friday, which cited the deteriorating creditworthiness of the bloc&rsquo;s 28 member nations. S&amp;P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&amp;P last month lowered its AAA rating on the Netherlands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Buffett Adds $37 mn a Day to His Fortune in 2013</strong></span></div>
<div>
	American business magnate Warren Buffett made a fortune of about $37 million per day in 2013, according to Wealth-X, making him the billionaire who made the most money this year. With a gain of $12.7 billion in 2013, Buffett&rsquo;s net worth at the end of the year stands at $59.1 billion. Microsoft Chairman, Bill Gates, added $11.5 billion to his personal fortune in 2013, ending the year with assets totalling $72.6 billion. Gates is also the richest person on the list.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>GSK to Scrap Targets for Sales Reps</strong></span></div>
<div>
	GlaxoSmithKline will no longer reward sales staff based on how many drugs they sell, marking a big shift in the way the pharmaceutical industry deals with doctors. The British drugs giant said that the changes, which will be introduced from next year, come as GSK and other drugs firms face intense scrutiny in China over claims they bribed doctors to use their products.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Indian Markets Readies for Inflation-Link Bonds</strong></span></div>
<div>
	The Indian finance ministry announced the launch of inflation-linked bonds starting from Monday as part of its strategy to wean Indians away from gold by offering them a real rate of return that exceeds consumer price inflation (CPI). The Inflation Indexed National Savings Securities-Cumulative (IINSS-C) bonds will offer investors a return that&rsquo;s 1.5% more than inflation based on the consumer price index .</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>US Third-quarter Growth Raised to 4.1%&nbsp;</strong></span></div>
<div>
	The US economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained. Gross domestic product grew at a 4.1 per cent annual rate instead of the 3.6 per cent pace reported earlier this month, the Commerce Department said in its third estimate on Friday.</div>',
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			'description' => 'The European Union lost its top credit rating from Standard & Poor’s on Friday, which cited the deteriorating creditworthiness of the bloc’s 28 member nations. S&P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&P last month lowered its AAA rating on the Netherlands.',
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		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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		'Article' => array(
			'id' => '2319',
			'article_category_id' => '137',
			'title' => 'US Fed Reserve Dilutes Stimulus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases,&rdquo; the Fed said in a statement. The Fed decided to cut back on both types of bond purchases -- mortgage-backed securities and Treasuries -- by $5 billion per month each.The bond-buying program has become so large, it&rsquo;s expected to push the Fed&rsquo;s assets to $4 trillion this week -- money the Fed basically created out of thin air. The new cut represents the beginning of a gradual wind-down process which Wall Street has nicknamed &ldquo;tapering.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	But the complete end to Fed stimulus is still probably years away. Fed officials have been stressing lately that tapering does not mean &ldquo;tightening.&rdquo; In fact, the Fed extended its commitment to keep short-term interest rates &ldquo;exceptionally low&rdquo; until either the unemployment rate falls to around 6.5% or the inflation rate exceeds 2.5% a year. At a press conference immediately following the announcement, Bernanke stressed that the Fed&rsquo;s actions did not amount to a withdrawal of support for the economy. &ldquo;Nothing we did today was intended to reduce accommodation,&rdquo; he said. Most officials expect rates to rise in 2015, despite the fact that inflation will likely still be below the target at that point.</div>
<div>
	&nbsp;</div>
<div>
	Bernanke also explained that the Fed had &ldquo;enhanced&rdquo; its forward guidance on keeping interest rates low.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The committee is determined to avoid inflation that is too low, as well as inflation that is too high,&rdquo; Bernanke said. But rates will remain low for a while, so consumers can still expect to lock in historically cheap rates on mortgages, car or business loans, albeit probably not at the record lows seen earlier this year. Stocks jumped following the announcement, with the Dow gaining 200 points after the news.</div>
<div>
	&nbsp;</div>
<div>
	Traditionally, the Fed has used low interest rates to stimulate the economy in times of stress, but in the most recent financial crisis, it was forced to take unprecedented measures. First, the Fed slashed its key interest rate to near-zero in 2008. Next, in a program known as &ldquo;quantitative easing,&rdquo; or QE, the Fed started buying bonds like U.S. Treasuries and mortgage-backed securities in an attempt to lower long-term interest rates too. That second move came in three rounds that have since been nicknamed QE1, QE2 and QE3. Among them, QE3 was the only program that wasn&rsquo;t given an explicit end-date. Instead, the Fed said it was looking for substantial improvement in the job market.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Little Impact on Nepal</strong></p>
</div>
<div>
	In mid-2013 talks about the Fed&rsquo;s QE tapering had impacted Nepal while rattling the world markets. The US dollar soared to record high levels following Fed&rsquo;s indication that it will eventually put an end to the flow of cheap money in coming months. Nepal&rsquo;s economy, which is considered more insulated to international events (due to non-integration in the global market) also suffered from this. Nepali Rupee, which maintains exchange rate-peg with the Indian Rupee, was hardest hit by the QE taper woes. The weakening of INR caused Nepali Rupee to slide historically against the US dollar. The devaluation mainly contributed to Nepal&rsquo;s fast rising inflation rate and prices of imported good in the local market. The sharp devaluation of NPR initiated a debate, whether NPR should continue its exchange rate-peg with INR.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the scenario after the Fed&rsquo;s latest decision looks different compared to the mid-2013. Experts say that QE tapering might have little or no impact on Nepali economy. &ldquo;Compared to the scenario in May-June, Nepali economy is in more comfortable place,&rdquo; says Krishna Bahadur Manandhar, former Governor of Nepal Rastra Bank. According to him, the global financial markets seem to have adjusted their fears on QE tapering. The depreciation of Nepali rupee was caused by devaluation of INR against the US dollar. Problems within the Indian economy such as the widening current account deficit (CAD) and trade deficit were blamed as the main factors for currency weakening. Despite various obstacles, India has effectively managed to overcome these problems in recent months. &ldquo;With measures like hike in gold import duties, India has narrowed CAD and trade deficit,&rdquo; Manandhar said adding, &ldquo;India&rsquo;s forex reserve has also risen significantly in past seven months.&rdquo; He opines that these developments help to check the currency devaluation and spillover effects of Indian economy.&nbsp;</div>',
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			'description' => 'Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.',
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		'Article' => array(
			'id' => '2315',
			'article_category_id' => '91',
			'title' => 'IFC To Invest In Upper Marshyangdi II',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The 600 MW Upper Marsyangdi-2 Project is located on the Marsyangdi River, in the Manang and Lamjung districts of Nepal, which is already in an advanced stage of development. The Project is being currently undertaken through a Nepalese subsidiary of GMR Energy Limited, Himtal Hydropower Company Pvt Ltd, according to the press release issued by the company.</div>
<div>
	&nbsp;</div>
<div>
	GBS Raju, Chairman of Energy Business said, &ldquo;We are pleased to have IFC as our partners in the Upper Marsyangdi-2 Hydropower project. Apart from investing in the company, IFC will also bring its vast experience in financing similar large and complex Infrastructure Projects, which will add value to the Project. &nbsp;</div>
<div>
	We believe that with the continuous support of IBN, both GMR and IFC shall be able to implement this Project in an accelerated manner.&rdquo; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Cross-country Transmission line&nbsp;</div>
<div>
	A contract has been signed between Power Transmission Company Nepal (PTCN) and TATA Project Limited, India to construct Dhalkebar-Muzaffarpur cross-country transmission line of 400 kb. &ldquo;The construction work will be completed within 16 months of the mobilization of contractors,&rdquo; said Badri Narayan Shah, Project Manager of PTCN.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company will construct transmission line of 39.5 kilometers from Dhalkebar to Birtamod. With the construction of this transmission line the hydro business between Nepal and India is expected to develop as it would create easy import-export environment between both the countries.</div>',
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			'description' => 'GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.',
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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity &quot;&quot; [APP/View/Elements/side_bar.ctp, line 133]
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		'Article' => array(
			'id' => '2335',
			'article_category_id' => '109',
			'title' => 'NIC Asia Bank Announces Cash Dividend',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank&rsquo;s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December. The Bank posted net profit of Rs 642 million last year. The Earnings per Share (EPS) and Return on Equity (ROE) were Rs 47.41 and 14.63 per cent respectively. The Bank posted an operating profit of Rs 299 million in the first quarter of the current fiscal year.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'NIC Asia Bank has decided to recommend cash dividend of Rs 20 per share for the year 2012-2013, subject to approval of Nepal Rastra Bank and the Bank’s Annual General Meeting. The decision was made by a Board Meeting of the Bank held on 19th December.',
			'sortorder' => '2178',
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			'id' => '2320',
			'article_category_id' => '138',
			'title' => 'Gold In Largest Annual Loss In 32 Years',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	Gold rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That&#39;s the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It&#39;s also the first year-over-year decline in gold prices since 2000, according to FactSet.</div>
<div>
	&nbsp;</div>
<div>
	Investors have been selling gold futures and gold-backed ETFs this year as stocks have soared to record highs. Prices for physical gold, including bars and coins, have fared better thanks to demand from investors in China. The rout follows a long-running bull market in gold. Even after this year&#39;s losses, gold is still up nearly 350% since 2001, when it traded below $300 an ounce.</div>
<div>
	&nbsp;</div>
<div>
	Gold hit a nominal (i.e. not adjusted for inflation) all-time high near $1,900 an ounce in 2011. The latest slide comes one day after the Federal Reserve announced plans to cut back on, or taper, its bond buying program.</div>
<div>
	&nbsp;</div>
<div>
	While it will be buying fewer bonds, the Fed also stressed that short-term interest rates will remain exceptionally low even after the unemployment rate falls to 6.5%. Investors took that as a sign the Fed will continue to flood the market with liquidity for years to come.</div>
<div>
	&nbsp;</div>
<div>
	The policy changes also suggest the Fed is becoming increasingly concerned about the threat of deflation, said Ashraf Laidi, global strategist at City Index in London.</div>
<div>
	&nbsp;</div>
<div>
	Inflation has been subdued all year and remains well below the Fed&#39;s target level of 2%. Consumer prices, excluding food and energy, rose only 0.2% in November from October, according to government data.</div>
<div>
	&nbsp;</div>
<div>
	Gold is seen as a hedge against inflation since precious metals tend to hold value better than assets such as stocks and bonds. With no sign of inflation on the horizon, investors have little reason to own gold. Laidi said gold prices could fall to $1,100 an ounce in the near term on worries about deflation.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
</div>
<div>
	<span style="font-size:14px;"><strong>Dismal Story Continues in Nepal Too</strong></span></div>
<div>
	Though the markets seem to have adjusted their fears, gold continues to lose its lust as confidence of investors is badly shaken for the time being. In recent months gold price has dropped inNepali market following the global trend. But, the sharp devaluation of Nepali rupee against the strong US dollarhas kept away the Nepali consumers to fully reap the benefits of falling gold prices. As the gold is internationally priced in US dollar, stronger greenback is likely to slow the decline in bullion prices in gold importing countries such as Nepal. However, after the Fed&rsquo;s announcement, the dollar index did not rise broadly like in mid-2013. As the lackluster performance of the gold continues to outshine its appeal, the relative stability in US dollar might put the bullion in pressure.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Traders also agree with this. &ldquo;Decline in transaction volume and demand along with deflationary pressure have negative impact on gold prices,&rdquo; opinesTej Ratna Shakya, former President of Federation of Nepal Gold and Silver Dealers Association (FENEGOSIDA). Shakya, however, seemed optimistic on gold rebounding in near terms. According to his estimates, gold in worse market condition may fall to Rs 50,000 per tola. &ldquo;Gold is likely to rebound as USD 1,200 per troy ounceseems to bethe bottom in the international markets,&rdquo; Shakya says. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Subdued demand of gold in domestic market is also seen as another factor affecting the bullion&rsquo;s performance in Nepal. In recent weeks, physical demand of gold has been declining in Nepal following the rising trend in stock markets. &ldquo;Continuation of cash flow doesn&rsquo;t always fulfill the expectations of stock market,&rdquo; he cited the recent movements in domestic stock market. Coupled with the political development and high amount of liquidity in the banking system, Nepali stock market has been soaring to record high levels after the second CA elections. &ldquo;Apart from equity market&rsquo;s performance, other sectors in Nepal aren&rsquo;t performing well,&rdquo; Shakya said adding, &ldquo;Investors are likely to return to gold after the stock market makes its adjustment in near term.&rdquo;</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-30',
			'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' => 'old rebounded from an early dip to a six-month low on short covering on Friday, but is still on track for its largest annual loss in 32 years. Spot gold hit its lowest since June on Friday at $1,185.10 an ounce, closing in on a 3-1/2-year low reached on June 28. The market clawed back some ground later in the session, up 1 percent to settle at $1,202.50. Gold has tumbled nearly 30% in 2014. That's the biggest drop since 1981, said Kevin DeMeritt, president of Lear Capital, a precious metals firm based in Los Angeles. It's also the first year-over-year decline in gold prices since 2000, according to FactSet.',
			'sortorder' => '2177',
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			'id' => '2333',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief ( 23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size: 14px;"><strong>TU&rsquo;s 39th Convocation on Poush 12&nbsp;</strong></span></div>
<div>
	The 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU&rsquo;sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>TU Publishes SOMAT Results</strong></span></div>
<div>
	Tribhuvan University Faculty of Management has published the result&nbsp;</div>
<div>
	of School of Management Admission Test (SOMAT-Spring 2014). The examination was held on 17th December, 2013.Selected students will participate in group discussions and make individual presentations to be organized at the School of Management&rsquo;s building within the University campus premises in Kirtipur.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Four Private Schools Closed in Chitwan</strong></span></div>
<div>
	Chitwan District Education Office ordered to close four private schools in Chitwan to close down as they were operating without taking permission. These schools are Adarsh English Boarding School and Buddha Shanti School of Chainpur, Chaturbhuj Boarding School of Dahkhani VDC, and Dipjyoti English Boarding School. The notice has directed the schools and concerned guardians to shift students to other schools.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Birendrangar Multiple Campus Brought under Mid-Western University</strong></span></div>
<div>
	The Birendrangar Multiple Campus (BMC), Surkhet, has been formally brought under the Mid-Western University (MWU) on Saturday, 14th December. The campus had been providing higher education to students for 30 years since its establishment in 1980 as a constituent college of the Tribhuvan University.</div>
<div>
	It was formally handed over to the MWU amid a special function on Saturday.Established with a fund of mere Rs 80,000, BMC handed over its property worth over Rs 160 million to the MWU. Bhusan Manandhar, Chairperson of the BMC&rsquo;s Management Committee, urged for maintaining academic legacy of the campus in the days to come while handing over BMC documents to the MWU Vice Chancellor Padam Lal Devkota. MWU was established four years ago.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Felicitation Programme by Apex Life School&nbsp;</strong></span></div>
<div>
	Apex Life School organized a felicitation programme on 17th December, Tuesday in the Buddha Hall of DAV School. The event supported Bagmati Cleaning Programme and focused on issues surrounding Clean Bagmati iniative. Speaking at the programme, Israel Ambassador, Hanan Goder-Goldberger, stressed on education as an important factor for bringing prosperity to Nepal. He stated that education is an investment for the society. The event was followed by series of entertainment programmes by the students of Apex Life School.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;"><strong>Book Launched</strong></span></div>
<div>
	On the occasion of 65th International Human Rights Day, South Western State College and Manav Adhikar Kadar Pratisthan launched a book &ldquo;Human Rights and Education Special Edition&rdquo;. The book was launched by the chairman of National Human Rights Commission, Kedarnath Upadhyay in a programme organised in the capital on Wednesday, December 18. Speaking at the programme, Upadhyay said that the country&rsquo;s democracy can be strengthened if Human Right is preserved. He also awarded winners of the inter college oratory competition organised to mark the occasion. Barsha Thapa of SouthWestern College had bagged the 1st prize in the competition.</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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 39th convocation ceremony of Tribhuvan University (TU) will be held on 12 Poush 2070 B.S at the Dasharath Stadium, Tripureshwor. According to a notice published by TU’sOffice of the controller of Examination, Balkhu, the convocation gowns will be distributed from 3rd of Poush to 9 Poush 2070 (except public holiday).',
			'sortorder' => '2176',
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		'Article' => array(
			'id' => '2332',
			'article_category_id' => '151',
			'title' => 'Is Your Office Making You Unproductive?',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Rachel Emma Silverman</strong></div>
<div>
	&nbsp;</div>
<div>
	Having trouble focusing at work? Blame the office.</div>
<div>
	&nbsp;</div>
<div>
	In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.</div>
<div>
	&nbsp;</div>
<div>
	Global design firm Gensler found that companies&rsquo; attempts to provide space for staff to collaborate&ndash; &nbsp;often via open-plan layouts or low cubicles&ndash;have compromised workers&rsquo; ability to concentrate. The study, which surveyed &nbsp;2,035 employees at a variety of firms, found that the most effective workplaces include both quiet spaces and collaborative areas, and give employees a choice of where they&rsquo;d like to work at any given time.</div>
<div>
	&nbsp;</div>
<div>
	In one surprising finding, workers are spending more time in focus work, such as reading email or writing code, than in previous years, despite office layouts that seem more conducive to group work. The researchers say that that poorer focus may mean it takes longer to complete thought-intensive tasks.</div>
<div>
	&nbsp;</div>
<div>
	Yet Gensler won&rsquo;t go so far as to say open-plan offices hinder workers&rsquo; prospects for getting work done&mdash;though plenty of employees say exactly that. (For one, companies love them because they usually consume less real estate than traditional cubicle farms.)</div>
<div>
	&nbsp;</div>
<div>
	Of course, even the workers lucky enough to have offices must struggle with digital distractions, says Diane Hoskins, an executive director of Gensler. Only 54% of those with private offices reported that their space is ideal for focusing effectively, while 38% of those in private offices reported that their concentration was often disturbed by others, the study found.</div>
<div>
	&nbsp;</div>
<div>
	The study bolstered the &ldquo;activity-based work&rdquo; movement, which holds that employees should choose different types of work environments &ndash; desks, caf&eacute;-like settings, meeting rooms &mdash; based on the type of tasks they are doing. &nbsp;At companies that give workers a choice of where to work, along with the tools for working remotely, employees were 12% more satisfied with their jobs than those at companies without remote-work options.</div>
<div>
	&nbsp;</div>
<div>
	Still, even employees given the choice to work where they liked tended to spend the bulk of their time&mdash;some 70%&ndash;in the office. <em>(http://blogs.wsj.com/atwork)</em></div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-31',
			'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' => 'Having trouble focusing at work? Blame the office.

In a new study, a large design firm responsible for creating corporate offices world-wide has found that most modern workspaces, while built to foster collaboration and ties between workers, may stifle our ability to focus and get things done.',
			'sortorder' => '2175',
			'image' => null,
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	(int) 4 => array(
		'Article' => array(
			'id' => '2331',
			'article_category_id' => '151',
			'title' => 'Practical Education  Of Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Master&rsquo;s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual&rsquo;s decision making ability.</div>
<div>
	&nbsp;</div>
<div>
	Nepal moved ahead for privatization from 1991 which resulted in an increase in economic activities in the country too. A number of private industries, companies, banks, and financial institutions were started with that. Similarly, activities in tourism sector and aviation also increased. The need for proper and effective management was felt after the number and responsibilities of these institutions increased. Soon, there was a high demand for people with proper management skills. MBA produced&nbsp;</div>
<div>
	that manpower.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The MBA programme was introduced in Nepal by Kathmandu University (KU) in 1993. Since then, the programme has supplied skilled manpower in the industrial and financial sectors. MBA has been the most demanded course among all the graduate programmes in the country. The demand for MBA graduates is high in the global market too due to the development witnessed in the financial and industrial sectors around the world. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With that, students&rsquo; attraction towards the course is also increasing every day. As a result, three other universities in Nepal namely Tribhuvan University, Purvanchal University, and Pokhara University have started teaching the MBA course over the past two decades. The degree has been very popular among students so far. &nbsp;Some colleges are also taking affiliations from foreign universities to run the programme.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	With MBA gaining popularity among students and mid-career professionals, most organisations have made MBA degree almost compulsory to enter professional fields. Today an MBA graduate finds more opportunities that MBS, MA, or MED graduates. Education experts say MBA course helps one to become economically independent too. Likewise, it also helps in proper management of one&rsquo;s own lifestyle.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities</strong></span></div>
<div>
	MBA graduates are mostly found employed in the business sector. They are also found working in industries and non-profit institutions. They are also working as consultants for various organisations or as entrepreneurs themselves. Similarly, they can also work in the fields of accounting, advertising or business management too. Likewise, MBA graduates are also the first choice for positions like Chief Executive Officer, Corporate Communication Manager, Chief Information Manager, Finance Officer, and Loan Analyst. MBA graduates are sought after in the tourism and agriculture sectors in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	MBA graduates get jobs easily and faster than other degree holders. They make more money as well.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>EMBA&nbsp;</strong></span></div>
<div>
	The Executive Master&rsquo;s in Business Administration (EMBA) course is designed for professionals who are already working in the business fields. This course aims to increase and sharpen their professional skills. While, the MBA course is for the regular students, EMBA is for working professionals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One should have at least a bachelors&rsquo; degree and a minimum work experience (at least at an officer level), of a year with a government or non-government organisation to be eligible to pursue the EMBA course. EMBA course is in demand among people from the corporate sector.</div>',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Master’s in Business Administration (MBA) is an academic course which teaches proper management of every sector. It is a course which provides practical knowledge about management. It also helps in developing an individual’s decision making ability.',
			'sortorder' => '2174',
			'image' => null,
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	(int) 5 => array(
		'Article' => array(
			'id' => '2327',
			'article_category_id' => '144',
			'title' => 'Meaning Of Nepse Rise',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.</div>
<div>
	&nbsp;</div>
<div>
	The victory of pro-free market political parties in the election, decrease of interest rates in the banking system and the directive of Nepal Rastra Bank (NRB) to implement Basel-III in banks and financial institutions are some of the reasons behind the sudden rise in the stock market. Those who are skeptical about the rise are claiming that this is not a natural rise but the result of speculative investment by some &lsquo;players&rsquo; of the stock market as the reason.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some macroeconomic factors which suggest that the rise in the stock prices could be natural. For example, the latest manufacturing index shows that the manufacturing sector is growing. Similarly, the growth rate of the country&rsquo;s trade deficit has decreased significantly in the first four months of the current fiscal year as compared to the same period of the previous fiscal year. All political parties have, in their election manifestos, committed not to organize bandhs and general strikes in the days to come. This could have boosted the morale of the investors.</div>
<div>
	&nbsp;</div>
<div>
	The political parties now need to walk the talk. They should not organize any kinds of bandhs and general strikes. The people voted for a change in the elections held last month. Now the investors are supporting that change by showing their confidence in the stock market. The donor agencies and Nepal&rsquo;s development partners, too, should not support any kind of bandh or strike under any pretext.</div>
<div>
	&nbsp;</div>
<div>
	This, however, doesn&rsquo;t mean that the investors don&rsquo;t need to be watchful. The information disseminated by all media or newspapers about the rise in Nepse index may not be the gospel truth. Similarly, some information could be misunderstood. Therefore, investors &ndash; old and new ones alike &ndash; should carefully analyse all the information before they decide to sell or buy the shares.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In this context, what the investors need to understand about NRB&rsquo;s directive regarding the implementation of Basel III &ndash; said to be one of the main reasons behind the rise in the price of banks&rsquo; shares &ndash; is that this is not an entirely new development. The central bank had introduced this concept three years back with the purpose of implementing it gradually. The implementation of Basel III doesn&rsquo;t mean that all banks and financial institutions have to raise their paid-up capital to Rs 5 billion. What Basel III means is the banks need to increase their capital adequacy. It doesn&rsquo;t mean that all banks must increase their paid-up capital. Similarly, the victory of the supporters of free market economy in the CA elections has certainly boosted the confidence of the general public and investors. This looks like one of the major reasons behind the rise in the Nepse index.</div>
<div>
	&nbsp;</div>
<div>
	However, the political equation of the next government to be formed is not clear yet. The economic policies to be adopted by the new government, too, are not clear, now. Therefore, it will not be wise to simply assume that the Nepse index will, like after the 2008 CA polls, cross the 1175 points this time too. Any investment on such an assumption could be risky; the investors should carefully analyse their risk-taking capacity and invest accordingly.</div>
<div>
	&nbsp;</div>
<div>
	Nevertheless, there is enough liquidity in the banking system at present, causing the interest rate on deposits to come down. So, the amount which would otherwise have gone to the banks in the form of deposits has come to the share market. On the other hand the demand for shares is more than the supply at present. Similarly, one of the fundamental indicators that is used to evaluate the market price of stocks is the Price-Earning (PE) ratio. Although the PE ratio of some listed companies is as high as 75 per cent, the average PE ration of most of the companies is around 20 percent which is natural. Therefore, the socio-economic condition of the country and the fundamental as well as technical indicators of the listed companies reveal that there is still the possibility of making money by investing in shares.</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' => 'The rise in Nepal Stock Exchange (Nepse) index that began soon after the results of the second Constituent Assembly (CA) elections continues. Nepse index which had closed at 600 points on November 14 before the Nov 19 CA polls has now risen to above 800 points. Thus, after the Nepse index rose by around 30 percent within a month, share investors, analysts and the media have put forward some reasons behind the continuous bullish trend.',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2329',
			'article_category_id' => '146',
			'title' => 'Visual Edit Vol 3 Issue 43',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-23',
			'modified' => '2013-12-23',
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			'description' => 'Visual Edit Vol 3 Issue 43',
			'sortorder' => '2172',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2328',
			'article_category_id' => '86',
			'title' => 'Pills And Colours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: &lsquo;The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	Businessman: &lsquo;It&rsquo;s all clear to me. I hope that pills also understand where they are supposed to go.&rsquo; <strong>&nbsp;-ML</strong></div>
<div>
	&nbsp;</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'Dr Bharat at the Norvic Hospital prescribed the medicines to a businessman and repeated his instructions: ‘The yellow pills like Panchayat colour are for your stomach, the red pills like communists are for your lever and the green pills like tree are for your heart. I hope you got that straight?’',
			'sortorder' => '2171',
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		'Article' => array(
			'id' => '2324',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (22 - 28 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure &nbsp;will be made public after the offices of the Election Officers and District Election Offices send the expenses details. The EC said that a total of Rs 4.75 billion was received under basket fund through the Nepal Peace Trust Fund. Different foreign governments had pledged Rs 3 billion for the CA elections.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>A team of French investors will be visiting Nepal over the next two months. French ambassador to Nepal, Martine BASSEREAU, during a meeting with Finance Minister Shankar Prasad Koirala on Dec 16, said that the French government will soon begin a study on the operation of cable car in the Kathmandu Valley. He also urged the Nepal government to extend all kinds of cooperation to the French investors, adding that the French government is interested in urban development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government has spent about Rs 120 billion in the first five months of the current fiscal year. This is Rs 38.42 billion more than the capital expenditure made in the same period of the previous fiscal year, according to Bhoomiram Sharma, joint spokesperson for the Ministry of Finance. The government has spent 23 per cent of the total annual budget in the first five months of the current fiscal year, Sharma added.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The government is preparing to bring the national budget for fiscal year 2014/15 in the first Nepal month of Baisakh (mid April to mid May). In a budget review organized at the Ministry of Finance (MoF) on Dec 18, Finance Secretary Shanta Raj Subedi also said that the government is also planning to fix the budgetary ceiling for three years. Presently, the National Planning Commission fixes the budget ceiling on an annual basis.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Indian Chamber of Commerce (ICC) organized a three-day Exposition and Buyer Seller Meet from 20-22 December at Bhrikuti Mandap. About 60 Indian companies representing electrical equipment and energy sector participated in the event. &nbsp;</div>
<div>
	<span class="Apple-tab-span" style="white-space:pre"> </span>The International Labour Organisation (ILO) and the European Union (EU) are going to launch a new project aimed at promoting the management of labour migration from India, Nepal and Pakistan to the Gulf Cooperation Council (GCC) nations. The project-which has a total budget of about 2.4 million euros will run until May 2016, according to a press release jointly issued by ILO and EU. The new project titled &ldquo;Promoting Effective Governance of Labour Migration from South Asia&rdquo; will contribute to ensure effective protection of the rights of vulnerable migrant workers, enhance the development impact of labour migration and reduce unregulated migration.</div>
<div>
	&nbsp;</div>
<div>
	&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Confederation of Nepalese Industries (CNI) organized a workshop under the project &ldquo;Go International Project&rdquo; with support from the European Union (EU) on December 18 in Kathmandu. Inaugurating the programme, Madhav Prasad Regmi, Secretary at the Ministry of Commerce and Supplies (MoCS), appreciated the effort of CNI in implementation of the project which is aimed at the internationalization of Nepalese products. He also expressed his sincere appreciation to EU for their support in trade sector development in Nepal. Delivering his welcome speech, CNI President Narendra Kumar Basnyat emphasized the current scenario of the Nepali economy and trade and expressed his hope that the new government to be formed would work towards economic liberalization, export promotion and &nbsp; creation of favourable investment atmosphere in country. Similarly, Maria Castaldi, Representative of the EU Delegation expressed satisfaction and happiness to support the project &ldquo;Go International&rdquo; and appreciated CNI for leading the project.</div>',
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			'description' => 'Nearly Rs 4.84 billion has been spent to hold the second Constituent Assembly election, according to the Election Commission (EC). Organising a press meet on Dec 16, EC Spokesperson Bir Bahadur Rai said that figure was based on a preliminary report. The final details of poll expenditure  will be made public after the offices of the Election Officers and District Election Offices send the expenses details.',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2326',
			'article_category_id' => '145',
			'title' => 'Expanding Our Service Industry',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Dr Roop Jyoti</strong></div>
<div>
	&nbsp;</div>
<div>
	Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal&rsquo;s service industry.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Health is one such sector. Nepal has many qualified doctors who have studied at reputed national and foreign medical colleges and universities. Many of them have the experience of working abroad as well. Comparatively, hospitals and other medical institutions can be run at a much lower cost in Nepal than in other countries. The treatment cost at such hospitals, too, would be low. Also, Nepal&rsquo;s geography and climate are very suitable for such projects. Beautiful sceneries of mountains, lakes or green pastures of land will greet the eyes of those who will look outside the windows of the hospitals. This will give a lot of psychological and mental relief to the patients and encourage their families to spend some time here. Thus, it goes without saying that good hospitals which provide quality health services have a great scope in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	However, so far the state has not even thought about developing the health sector as an industry. Health centres and health posts have been established even in the far-flung villages but they lack skilled and well-trained human resource. Government hospitals are in a mess. However, there are a few well-equipped hospitals, thanks to the entry of the private sector in the health and medical care service. It is because of the presence of such private hospitals that the expats living in Nepal now don&rsquo;t have to rush to Bangkok or Singapore even for delivery cases!&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	We can take Grande International Hospital as an example. Established recently, this hospital today serves not only Nepalis and the expat community living in Nepal but also foreigners who come here for treatment. This is because of the hospital&rsquo;s reasonable charges and quality service. This shows that a lot of foreigners will come to the Nepal for treatment if we can provide health services of international standard. On the other hand, Nepalis too won&rsquo;t have to go abroad for treatment. This will also boost our in-bound tourism.</div>
<div>
	&nbsp;</div>
<div>
	If we can establish medical colleges and universities of international standard, Nepalis won&rsquo;t have to go abroad to study medical science; instead foreign students will come here to study medical science. A number of foreign students are already coming to Nepal to study engineering and medical sciences. The reasons for this are Nepal&rsquo;s natural beauty and excellent climate, availability of enough patients for practical study and low cost of studies. Thus we can see that Nepal has great prospects as an international educational hub. For this to happen, if world-famous universities such as Cambridge and Harvard want to open their campuses in Nepal, they should be allowed to do so. This will provide opportunities to the Nepali students as well. The government has already taken a step towards this direction by allowing the Thailand-based Asian Institute of Technology (AIT) to open a satellite campus in Nepal. It&rsquo;s time for the government to devise a policy to address such issues in order to make Nepal an international educational hub. This will help strengthen the country&rsquo;s economy.</div>
<div>
	&nbsp;</div>
<div>
	The government&rsquo;s focus must shift to employment creation. Supermarkets could be another sector for employment creation. As we are a small economy, our domestic production is low and we have to depend on import for the supply of most of the essential commodities we need. This is a bitter truth. So, we should relax our import policy and lower the customs duty on import to a minimum five percent. Such a relaxation in the import policy would help the country develop into a supermarket hub. The cost of labour and rent of shopping malls has been on a constant rise in global shopping hubs such as Singapore and Hong Kong. We should be able to benefit from this situation because of cheap labour, low import tariff and lower rents of shopping malls. We must build and develop supermarkets where goods from around the world are available at reasonable prices. The implementation of this concept would help strengthen our economy by attracting shopping tourism.</div>
<div>
	&nbsp;</div>
<div>
	Old age homes could be another pillar of our service industry. In the developed countries, parents and children start living separately once the latter start earning. As children do not have enough time for their old parents, the latter have to spend the rest of their lives in old age homes in the developed countries. The cost of personal care to such old people and rent of old age homes are higher in the developed world. Nepal&rsquo;s natural beauty and good weather conditions and the world famous Nepali hospitality are some of the major plus points in establishing old age homes here. Many foreign nationals, who have reached the fag end of their lives, are already living in Nepal. Thus, well-equipped old age homes could be a very good source of income for Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, there are some policy hurdles to move ahead in the above-mentioned service sectors. Foreign universities still face some accreditation related problems in Nepal. There are problems in issuing long-term residential visas to foreigners. These problems should be addressed without compromising our national interests. The process of issuing license to health institutions should be eased; hospitals and doctors should be allowed to use foreign medicines if needed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(The author is a former Minister of State for Finance. This is a TC translation of an article by the author published on Nov 29 issue of Aarthik Abhiyan daily.)&nbsp;</em></div>',
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			'description' => 'Being a landlocked country, it is quite tough for Nepal to compete with other countries in industrial development, production and export. Therefore, the country must focus on the development and expansion of its service industries which are supported by and suitable to its geography. However, the irony is only tourism has been considered to be a service industry so far. There is no doubt that tourism has great scope in Nepal. But there are few other sectors which should be developed as important segments of Nepal’s service industry.',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2325',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) PR Candidate Arrested on Murder Charge</strong></span></div>
<div>
	Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Big parties violating CPA&rsquo;&nbsp;</strong></span></div>
<div>
	Senior CPN-Maoist leader Dev Gurung on December 17 accused the three major political parties - &nbsp; NC, CPN-UML and UCPN (Maoist) &ndash; of violating the 12-point agreement and the Comprehensive Peace Agreement (CPA). During a politburo meeting of the party, which boycotted the November 19 Constituent Assembly election, Gurung cited this as the reason why his party wouldn&rsquo;t participate in the Constituent Assembly. In the meeting held at party chairman Mohan Baidya&rsquo;s residence at Dhapasi, Gurung who is currently acting as the coordinator of the alliance of election boycotting parties, also accused the major political parties of acting under the direct influence of foreign forces.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>New Constitution within a Year: Nepal</strong></span></div>
<div>
	Former Prime Minister and senior leader of the CPN (UML) Madhav Kumar Nepal has said that one year from here on means enough time to promulgate the new constitution. Talking to media persons in Kathmandu on Dec 17, Nepal said his and other parties were trying to bring the disgruntled parties on board the constitution making process. &ldquo;We will exercise high flexibility for consensus,&rdquo; he said. Nepal also remarked that the extension of the deadline by a week for the parties to submit the Proportional Representation (PR) list to the Election Commission would help create conducive environment for consensus among parties. &ldquo;UML is ready to submit its PR list any time. To facilitate the process, UML central committee has delegated this task to the Standing Committee,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>India Stresses on Inclusive CA</strong></span></div>
<div>
	India, one of Nepal&rsquo;s immediate neighbours, has suggested ensuring the participation of all political parties, including those who boycotted the elections last month, in the second Constituent Assembly (CA). Talking to a group of visiting Nepali editors, Indian Minister for External Affairs, Salman Khursid, said that it would not be wise to keep the disgruntled political parties out of the constitution making process. &ldquo;The provision for proportional representation helps to include in the Constitution drafting process even those who lost in the election,&rdquo; he said, &ldquo;it is important that all parties participate in the constitution drafting process.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>UCPN (Maoist) to Join CA, not Govt</strong></span></div>
<div>
	UCPN (Maoist) Spokesperson Agni Sakpota has said that his party will join the Constituent Assembly (CA) but not the new government to be formed. &ldquo;We will join the CA,&rdquo; said Sakpota while speaking at a programme in the Capital on Friday,&rdquo; It was with the intention to join the CA that we had asked the Election Commission to extend the deadline for submitting the list of proportional representation.&rdquo; Sapkota also made it clear that his party would not join the government. &ldquo;We will not be part of the government. If it does well, we will support it from outside,&rdquo; he said.</div>',
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			'description' => 'Police on December 16 arrested Siyaram Kushwaha, a UCPN (Maoist) candidate for the Constituent Assembly under the proportional representation system. Kushwaha, who was arrested from Chitwan, is the prime accused in the murder of World Hindu Youth Association Chairman Kashiram Tiwari three years ago. Kushwaha was arrested based on the confession by another accused Aman Kushwaha, who is currently in police custody after being arrested in 2011.',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2321',
			'article_category_id' => '137',
			'title' => 'Nepal And The World News In Brief (23 - 29 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EU Stripped from AAA Credit Rating&nbsp;</strong></span></div>
<div>
	The European Union lost its top credit rating from Standard &amp; Poor&rsquo;s on Friday, which cited the deteriorating creditworthiness of the bloc&rsquo;s 28 member nations. S&amp;P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&amp;P last month lowered its AAA rating on the Netherlands.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Buffett Adds $37 mn a Day to His Fortune in 2013</strong></span></div>
<div>
	American business magnate Warren Buffett made a fortune of about $37 million per day in 2013, according to Wealth-X, making him the billionaire who made the most money this year. With a gain of $12.7 billion in 2013, Buffett&rsquo;s net worth at the end of the year stands at $59.1 billion. Microsoft Chairman, Bill Gates, added $11.5 billion to his personal fortune in 2013, ending the year with assets totalling $72.6 billion. Gates is also the richest person on the list.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>GSK to Scrap Targets for Sales Reps</strong></span></div>
<div>
	GlaxoSmithKline will no longer reward sales staff based on how many drugs they sell, marking a big shift in the way the pharmaceutical industry deals with doctors. The British drugs giant said that the changes, which will be introduced from next year, come as GSK and other drugs firms face intense scrutiny in China over claims they bribed doctors to use their products.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Indian Markets Readies for Inflation-Link Bonds</strong></span></div>
<div>
	The Indian finance ministry announced the launch of inflation-linked bonds starting from Monday as part of its strategy to wean Indians away from gold by offering them a real rate of return that exceeds consumer price inflation (CPI). The Inflation Indexed National Savings Securities-Cumulative (IINSS-C) bonds will offer investors a return that&rsquo;s 1.5% more than inflation based on the consumer price index .</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>US Third-quarter Growth Raised to 4.1%&nbsp;</strong></span></div>
<div>
	The US economy grew at its fastest pace in almost two years in the third quarter while business spending was stronger than previously estimated, pointing to some underlying strength that should be sustained. Gross domestic product grew at a 4.1 per cent annual rate instead of the 3.6 per cent pace reported earlier this month, the Commerce Department said in its third estimate on Friday.</div>',
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			'description' => 'The European Union lost its top credit rating from Standard & Poor’s on Friday, which cited the deteriorating creditworthiness of the bloc’s 28 member nations. S&P cut its long-term rating on the EU to AA+, with a stable outlook, from AAA and maintained its short-term rating at A-1+. The downgrade came after S&P last month lowered its AAA rating on the Netherlands.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2323',
			'article_category_id' => '140',
			'title' => 'SAARC Should Pressure Gulf Countries To Treat Workers Better',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants&rsquo; Day.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In a letter sent to the Secretary General of SAARC, the Human Rights Watch (HRW) said that a SAARC regional protection initiative could significantly enhance the living and working conditions of workers in low-paid sectors from India, Pakistan, Sri Lanka, Nepal and Bangladesh who routinely face violations of international labour standards and human rights law in the six Gulf states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The six Gulf Cooperation Council (GCC) countries are Kuwait, Oman, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE).</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The Gulf countries should recognize the crucial role foreign workers play in their economies and take measures to ensure that their rights are fully respected,&rdquo; the letter reads, &ldquo;South Asian governments should join forces to press for reforms to end the terrible abuses against migrant workers that have gone on for far too long.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The deaths of hundreds of South Asian workers in Qatar have shone a spotlight on the appalling living and working conditions of low-wage migrant workers in the construction sector. However, abuses in many sectors persist in Bahrain, Kuwait, Saudi Arabia, Oman and the UAE.&rdquo; Migrant workers in these countries typically have their passports confiscated and are forced to work under the highly exploitative kafala system of sponsorship-based employment, which prevents them from leaving employers. SAARC should urge GCC countries to respect non-discrimination and equal treatment of migrant workers and their right to join trade unions and bargain collectively, HRW said.</div>',
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			'description' => 'Member states of the South Asian Association for Regional Cooperation (SAARC) should use their collective bargaining power to seek greater protection for their nationals working in the Gulf countries, a US-based rights group said on December 19 which is celebrated globally as the International Migrants’ Day.',
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			'id' => '2319',
			'article_category_id' => '137',
			'title' => 'US Fed Reserve Dilutes Stimulus',
			'sub_title' => '',
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			'content' => '<div>
	Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases,&rdquo; the Fed said in a statement. The Fed decided to cut back on both types of bond purchases -- mortgage-backed securities and Treasuries -- by $5 billion per month each.The bond-buying program has become so large, it&rsquo;s expected to push the Fed&rsquo;s assets to $4 trillion this week -- money the Fed basically created out of thin air. The new cut represents the beginning of a gradual wind-down process which Wall Street has nicknamed &ldquo;tapering.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	But the complete end to Fed stimulus is still probably years away. Fed officials have been stressing lately that tapering does not mean &ldquo;tightening.&rdquo; In fact, the Fed extended its commitment to keep short-term interest rates &ldquo;exceptionally low&rdquo; until either the unemployment rate falls to around 6.5% or the inflation rate exceeds 2.5% a year. At a press conference immediately following the announcement, Bernanke stressed that the Fed&rsquo;s actions did not amount to a withdrawal of support for the economy. &ldquo;Nothing we did today was intended to reduce accommodation,&rdquo; he said. Most officials expect rates to rise in 2015, despite the fact that inflation will likely still be below the target at that point.</div>
<div>
	&nbsp;</div>
<div>
	Bernanke also explained that the Fed had &ldquo;enhanced&rdquo; its forward guidance on keeping interest rates low.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The committee is determined to avoid inflation that is too low, as well as inflation that is too high,&rdquo; Bernanke said. But rates will remain low for a while, so consumers can still expect to lock in historically cheap rates on mortgages, car or business loans, albeit probably not at the record lows seen earlier this year. Stocks jumped following the announcement, with the Dow gaining 200 points after the news.</div>
<div>
	&nbsp;</div>
<div>
	Traditionally, the Fed has used low interest rates to stimulate the economy in times of stress, but in the most recent financial crisis, it was forced to take unprecedented measures. First, the Fed slashed its key interest rate to near-zero in 2008. Next, in a program known as &ldquo;quantitative easing,&rdquo; or QE, the Fed started buying bonds like U.S. Treasuries and mortgage-backed securities in an attempt to lower long-term interest rates too. That second move came in three rounds that have since been nicknamed QE1, QE2 and QE3. Among them, QE3 was the only program that wasn&rsquo;t given an explicit end-date. Instead, the Fed said it was looking for substantial improvement in the job market.</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Little Impact on Nepal</strong></p>
</div>
<div>
	In mid-2013 talks about the Fed&rsquo;s QE tapering had impacted Nepal while rattling the world markets. The US dollar soared to record high levels following Fed&rsquo;s indication that it will eventually put an end to the flow of cheap money in coming months. Nepal&rsquo;s economy, which is considered more insulated to international events (due to non-integration in the global market) also suffered from this. Nepali Rupee, which maintains exchange rate-peg with the Indian Rupee, was hardest hit by the QE taper woes. The weakening of INR caused Nepali Rupee to slide historically against the US dollar. The devaluation mainly contributed to Nepal&rsquo;s fast rising inflation rate and prices of imported good in the local market. The sharp devaluation of NPR initiated a debate, whether NPR should continue its exchange rate-peg with INR.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, the scenario after the Fed&rsquo;s latest decision looks different compared to the mid-2013. Experts say that QE tapering might have little or no impact on Nepali economy. &ldquo;Compared to the scenario in May-June, Nepali economy is in more comfortable place,&rdquo; says Krishna Bahadur Manandhar, former Governor of Nepal Rastra Bank. According to him, the global financial markets seem to have adjusted their fears on QE tapering. The depreciation of Nepali rupee was caused by devaluation of INR against the US dollar. Problems within the Indian economy such as the widening current account deficit (CAD) and trade deficit were blamed as the main factors for currency weakening. Despite various obstacles, India has effectively managed to overcome these problems in recent months. &ldquo;With measures like hike in gold import duties, India has narrowed CAD and trade deficit,&rdquo; Manandhar said adding, &ldquo;India&rsquo;s forex reserve has also risen significantly in past seven months.&rdquo; He opines that these developments help to check the currency devaluation and spillover effects of Indian economy.&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' => 'Federal Reserve officials decided Wednesday to start gradually reducing their massive economic stimulus program. Beginning in January, the Fed will buy $75 billion in bonds each month, down from the $85 billion it had been buying since September 2012.',
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		'Article' => array(
			'id' => '2315',
			'article_category_id' => '91',
			'title' => 'IFC To Invest In Upper Marshyangdi II',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The 600 MW Upper Marsyangdi-2 Project is located on the Marsyangdi River, in the Manang and Lamjung districts of Nepal, which is already in an advanced stage of development. The Project is being currently undertaken through a Nepalese subsidiary of GMR Energy Limited, Himtal Hydropower Company Pvt Ltd, according to the press release issued by the company.</div>
<div>
	&nbsp;</div>
<div>
	GBS Raju, Chairman of Energy Business said, &ldquo;We are pleased to have IFC as our partners in the Upper Marsyangdi-2 Hydropower project. Apart from investing in the company, IFC will also bring its vast experience in financing similar large and complex Infrastructure Projects, which will add value to the Project. &nbsp;</div>
<div>
	We believe that with the continuous support of IBN, both GMR and IFC shall be able to implement this Project in an accelerated manner.&rdquo; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Cross-country Transmission line&nbsp;</div>
<div>
	A contract has been signed between Power Transmission Company Nepal (PTCN) and TATA Project Limited, India to construct Dhalkebar-Muzaffarpur cross-country transmission line of 400 kb. &ldquo;The construction work will be completed within 16 months of the mobilization of contractors,&rdquo; said Badri Narayan Shah, Project Manager of PTCN.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The company will construct transmission line of 39.5 kilometers from Dhalkebar to Birtamod. With the construction of this transmission line the hydro business between Nepal and India is expected to develop as it would create easy import-export environment between both the countries.</div>',
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			'created' => '2013-12-23',
			'modified' => '2013-12-23',
			'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' => 'GMR Energy Limited, the energy arm of the GMR Group of India signed a Joint Development Agreement (JDA) with the International Finance Corporation (IFC), a member of the World Bank Group, to jointly develop the Upper Marsyangdi-2 hydropower project (600 MW) in Nepal.',
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