Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '2291',
			'article_category_id' => '109',
			'title' => 'NRB Asks Banks To Get Ready For Basel III',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004. When Basel III comes in full implementation, most of the Nepali banks will be required to increase their paid up capital by up to Rs 5 billion depending on their exposure on risky assets. As per the Basel II framework, the paid up capital requirement for the commercial banks in Nepal is currently capped at Rs 2 billion. After the implementation new provision, banks are required to increase their minimum capital, equity capital ratio and buffer capital.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bankers Say the Framework Won&#39;t Hurt Their Profits&nbsp;</div>
<div>
	While the central bank is in last minute preparations to implement the Basel III, commercial bankers are looking more confident on the new regulatory framework. They are expecting Nepali banking sector to be more effective, strong and competitive. Currently, NBR is gathering suggestions from the banking sector regarding the new regulatory standard. &quot;NRB&#39;s decision and preparation to enforce Basel III is very timely and appropriate,&quot; said Bhuwan Dahal, CEO of the Sanima Bank. &quot;It won&#39;t hurt the profit of banks, the framework will further strengthen Nepal&#39;s entire financial system.&quot; &nbsp;According to him, many of the Nepali banking system&#39;s current provisions will remain intact even after the implementation of new framework, due to which the chances of decline in banks profit is minimum. Another CEO of a commercial bank also agreed with Dahal&#39;s view. &quot;Short-term profits of banks may come down after the enforcement of Basel III but it is likely to rise on the long-term,&quot; he said under the condition of anonymity adding,&quot; Distribution of dividend and profit may be affected for some time, however, these impacts will gradually lessen after the full implement of the regulatory framework.&quot; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, some bankers are also voicing their concerns. Upendra Paudel, Vice-President of Nepal Bankers Association (NBA) said that if the new standard is enforced in the current scenario it may reduce the commercial capabilities of Nepali banks. &quot;It is good to introduce the global framework in our country, however, some practical problems may persist,&quot; he said. Paudel informed that NBA will submit its suggestions to NRB to solve such problems.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What is Basel III Framework?</div>
<div>
	Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on capital adequacy, stress testing and market liquidity risk of banks. It is a set of standards and practices created to ensure that banks across the world maintain adequate capital to sustain themselves during periods of economic strain.</div>
<div>
	&nbsp;</div>
<div>
	It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11, and was scheduled to be introduced from 2013 until 2015; however, changes from April 1, 2013 extended implementation until March 31, 2018. Basel III was developed in response to the deficiencies in financial regulation revealed by the global financial crisis of 2008-09 followed by the sovereign debt crisis of Eurozone. The name for the accord is derived from Basel, Switzerland, where the committee, that maintains the accord, meets.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004.',
			'sortorder' => '2133',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2290',
			'article_category_id' => '110',
			'title' => 'Top Ten Losers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Losers',
			'sortorder' => '2132',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2289',
			'article_category_id' => '111',
			'title' => 'Top Ten Gainers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Gainers',
			'sortorder' => '2131',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2288',
			'article_category_id' => '112',
			'title' => 'Weekly Gold And Silver Price (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Weekly Gold And Silver Price',
			'sortorder' => '2130',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2287',
			'article_category_id' => '113',
			'title' => 'US Dollar Exchange Rate At Local Market (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'US Dollar Exchange Rate at Local Market (9 - 15 December 2013)',
			'sortorder' => '2129',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '2286',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>PABSON&rsquo;s SLC Qualification Evaluation Exam from Jan 19&nbsp;</strong></span></div>
<div>
	The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>KU Celebrates 19th Convocation Ceremony</strong></span></div>
<div>
	Kathmandu University (KU) conducted its 19th convocation ceremony on Friday, 13th December. 2050 graduates, of which 884 (43.08%) were females, received their degrees in the ceremony. Similarly, 282 (13.74%) foreign students belonging to Australia,Austria, Bhutanese Refugee, Bangladesh, Canada, Germany, India, Latvian, Sweden, Switzerland, Sri Lanka, Russia, USA, Ukraine, Zambia and other nations, also received degrees in undergraduate, graduate, and postgraduate programs along with M. Phil and PhD. This year twelve candidates were awarded PhD Degree.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four TU, KU Academicians Disqualified</strong></span></div>
<div>
	The University Grants Commission (UGC) has blacklisted four professors affiliated to Tribhuvan University (TU) and Kathmandu University (KU) on charges of plagiarism. These professors were found lifting the contents from their previous works in research papers presented to the UGC seeking grants. So balcklisted academicians include Professor at the School of Education at the KU, Dhanpati Subedi as well as professions of TU Central Department of Chemistry. Megh Raj Pokhrel, Dev Bahadur Khadka and Kedar Nath Ghimire. The UGC&rsquo;s evaluation committee led by Prof Krishna Bahadur Manandhar, also former secretary at NAST, had evaluated their papers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dean of IoM Resigns</strong></span></div>
<div>
	Dr Prakash Sayami, Dean of the Institute of Medicine (IoM), has once again resigned from his post citing mounting pressure from authorities to provide affiliation to new medical colleges. This is the second time that Dr Sayami has resigned. Before this he had resigned from the post on November 6, 2012, citing non-cooperation from Tribhuvan University (TU) officials. However at that time officials at the University did not approve his resignation. The affiliation row between TU and IoM soared after the university, published a notice calling for applications for its affiliation from colleges that have received consent letter, known as the Letter of Intent (LoI), from the Ministry of Education.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CIAA Investigating Medical Colleges</strong></span></div>
<div>
	The Commission for the Investigation of Abuse of Authority (CIAA) has started investigating allegations levelled against Nobel Medical College in Biratnagar. The CIAA has received complaints against the college about its affiliation and quota distribution. Similarly, CIAA has also monitored and investigated the Universal College of Medical Sciences in Bhairahawa on Wednesday 11th November and Thursday, 12th November.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Human Rights Day Observed</strong></span></div>
<div>
	International Human Rights Day was observed throughout the country organizing different programmes. This year International Human Rights Day was celebrated with the worldwide slogan, &acute;Speak Up, Stop Discrimination&acute; and the national slogan &acute;Collective Solidarity for Democracy and Peace, National Commitment to Timely Constitution in favour of Human Rights.&acute;Human Rights Day is held on 10 December every year. The United Nations General Assembly adopted the Universal Declaration of Human Rights in 1950, proclaiming its principles as the &ldquo;common standard of achievement for all peoples and all nations.&rdquo;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.',
			'sortorder' => '2128',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2284',
			'article_category_id' => '151',
			'title' => 'Study Management  In Best Business Schools',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WhiteHouse Graduate School of Management</strong></span></div>
<div>
	<img alt="WhiteHouse GSM" src="/userfiles/images/wgsm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 199px;" />WhiteHouse Graduate School of Management (WhiteHouse GSM) was established in 2001 with the motto, &ldquo;Think Now. Think Smart. Think Ahead.&rdquo;The college has been envisioned as a center to provide excellent management education and research opportunities. Its specially tailored courses inculcate professional skills and capabilities in the students and engrain in them entrepreneurial and business leadership qualities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Courses provided by the college are student-centered and include ample of research opportunities that help in expanding the frontiers of student&rsquo;s knowledge about business. Its courses are responsive to demands of national and international economy and it imbibes in it strategies for providing students better understanding of globalization, sustainability, ethical entrepreneurship and innovative approaches in business management.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Under the corporate umbrella of WhiteHouse Education Network, WhiteHouse GSM offers four-year Bachelor in Business Administration (BBA) and Bachelor in Liberal Arts &amp; Sciences (BLAS) programmes at the undergraduate level.In addition, it also offers two-year Master in Business Administration (MBA) and Executive MBA programs at the postgraduate level.</div>
<div>
	&nbsp;</div>
<div>
	The college imparts education through the use of advanced and student-friendly teaching-learning methodologies like group interactive lectures, discussions, seminars, case studies, project work, industrial visits, presentations along with internship opportunities in reputed corporations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Located at the heart of the city, Mid-Baneshwor, WhiteHouse GSM is an applied management school for individuals who aspire to build enterprises on their own. At the same time, its professional programmes aim to produce managers who can handle government and private organizations efficiently.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<div>
											<img alt="Sambhu K Dahal" src="/userfiles/images/sd(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 248px;" /><span style="font-size:14px;"><strong>Sambhu K. Dahal</strong></span></div>
										<div>
											<span style="font-size:14px;">Programme Director, WhiteHouse GSM</span></div>
										<div>
											&nbsp;</div>
										<div>
											Guru mantra of management is knowledge, skill and attitude. Knowledge can be obtained in any schools or institutions. Main thing that our college does is to enable students with capacity to transform knowledge into skill.&nbsp;</div>
										<div>
											&nbsp;</div>
										<div>
											The basic objective of our college is providing knowledge and converting that knowledge into skill and to improve the attitude of the student. We have some of the best faculty members and have the best physical infrastructure for providing standard education. Job placements are an important aspect of professional education courses. So far, our graduates have secured best positions in leading business organizations. Our College not only gives education but also helps them to be good entrepreneurs.</div>
									</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	<div>
		<span style="font-size:16px;"><strong>Thames International College</strong></span></div>
	<div>
		<img alt="Thames International College" src="/userfiles/images/tic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 238px;" />Thames International College started its journey of serving Nepali youth in collegiate studies a decade ago.</div>
	<div>
		&nbsp;</div>
	<div>
		The college extends realistic assistance to young and aspiring adults in choosing academic course that meets their career ambition. It provides atmosphere where learning is not a forced compulsion but a creatively involving activity.</div>
	<div>
		&nbsp;</div>
	<div>
		The college concentrates on developing overall personality of its students instead of solely focusing on excelling in examinations. It believes that knowledge lies also beyond text books.</div>
	<div>
		&nbsp;</div>
	<div>
		Thames assists its students to identify their own strengths and weaknesses and provides opportunity to sharpen their own talents to overcome weaknesses. And all these services are provided through utmost professionalism. Thames concentrates on making the students realize the high competition in the outside world and how a strong academic back-up can assist them to excel in the competition.</div>
	<div>
		&nbsp;</div>
	<div>
		The college offers Bachelor&rsquo;s in Business Studies (BBA), Bachelor&rsquo;s in Information Management (BIM) and Bachelors&rsquo; in Rural Development and Social Work.</div>
	<div>
		&nbsp;</div>
	<div>
		Located in the heart of the Kathmandu city, Old Baneshwor, the campus embodies a lifestyle appropriate for students where options for accommodation, transportation, shopping and entertainment are available as required by the students.</div>
	<div>
		&nbsp;</div>
</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<img alt="Rajendra Man Shrestha" src="/userfiles/images/rms.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 247px;" /></div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Rajendra Man Sherchan&nbsp;</span></strong></div>
						<div>
							<span style="font-size:14px;">Chairman</span></div>
						<div>
							<span style="font-size:14px;">Thames International College</span></div>
						<div>
							&nbsp;</div>
						<div>
							Thames International College is dedicated to students&rsquo; education. It works for the welfare of the students. It not only focuses on imparting theoretical education but also equally focuses on providing practical education. We emphasize on workshops, seminars, field visits and personal interaction with the real world to provide ample exposure to students. Beside providing guidance on book-based knowledge, our teaching approaches assist the students in being highly competitive graduates that can sell their skills in the market. Placement of our graduates is good.</div>
					</div>
				</div>
				<div>
					&nbsp;</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	<em>(Both Colleges have been awarded the 6th Best Business Schools in Nepal by National Business Schools Rating-Ranking Awards, 2013 presented by New Business Age.)</em></p>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.',
			'sortorder' => '2127',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2282',
			'article_category_id' => '86',
			'title' => 'Businessman’s Revenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: &lsquo;I noticed that you are carrying a TV remote control. What may be the reason?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	The businessman said: &lsquo;My wife always refuses to come to the cocktail parties. So I figured out this as the most evil thing I could do to her legally.&rsquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>&nbsp; &nbsp; -ML</strong></div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: ‘I noticed that you are carrying a TV remote control. What may be the reason?’',
			'sortorder' => '2125',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2281',
			'article_category_id' => '144',
			'title' => 'Tackling Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Last week brought some good news for the Nepali economy. The growth rate of the country&rsquo;s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent. Trade experts are citing increase in the export of woolen carpets, readymade garments, pashmina and handicrafts &ndash; some of the country&rsquo;s major exportable items &ndash; and a drastic decrease in the import of gold as the major reasons behind the significant drop in the trade deficit.</div>
<div>
	&nbsp;</div>
<div>
	The decrease in trade deficit is significant because it has taken place in spite of a sharp increase of 14.4 per cent in the import of petroleum products. Nepal&rsquo;s total export in the first four months of this fiscal year stands at around Rs 29.62 billion whereas the import of petroleum products alone has been worth more than Rs 37.85 billion over this period. However, we can take a sigh of relief as the import of gold has declined by 29.6 per cent and stood at Rs 6.29 billion in the first four months of the current fiscal year as compared to the same period last year. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is no doubt that the best way to tackle the trade deficit problem is increasing our exports. The government acknowledged this fact and set a target of increasing our total annual exports to the tune of Rs 100 billion in the last fiscal year itself. The target could not be reached in the last fiscal year. But there are some early signs that this target could be reached this fiscal year. The export of cardamom, honey, noodles, handmade paper and Pashmina &ndash; some of the major exportable items identified by Nepal Trade Integration Strategy 2010 &ndash; has gone up in the first four months of this fiscal year.</div>
<div>
	&nbsp;</div>
<div>
	Available trade statistics show that our exports go up when there are no industrial strikes. That is one of the major reasons for the recent increase in exports. Therefore, to make the decrease in trade deficit sustainable, the political parties and the trade unions affiliated to them must commit to make the industrial sector a strike-free zone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides encouraging exports, we should also focus on discouraging the imports of items such as gold and petroleum and substituting the import of commodities such as iron and steel. The policy of discouraging the import of gold should be given continuity. Though the demand for gold cannot be controlled by banning imports, there can be ways to meet the demand for gold for investment purpose as shown by India which has allowed the banks to accept &lsquo;gold deposits&rsquo; whereby the bank buys gold on the name of the customer in the international market with the money the bank has parked abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To lower the import of petroleum, the government should allow the mixing of permissible amount of ethanol in petrol. Many countries are already doing this. Ethanol is produced as a byproduct by the sugar factories.</div>
<div>
	&nbsp;</div>
<div>
	On the other hand, the sugar factories produce electricity by converting thermal energy into electrical energy. This electricity which is produced by the burning of bagasse is more than the factories require. The government should buy the surplus electricity thus produced by the sugar factories. This way, we can add 20 to 25 MW of electricity to the national grid. This step would not only help us tackle the load-shedding problem to some extent but also help us partly substitute the import of diesel which is burnt to produce electricity for industries.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, to substitute the import of iron and steel to some extent, we should start extracting iron from the identified mines and also explore new iron mines. But the irony is that the mines from where the metal used to be extracted traditionally are closed down. This process must be reversed.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Last week brought some good news for the Nepali economy. The growth rate of the country’s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent.',
			'sortorder' => '2124',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2280',
			'article_category_id' => '145',
			'title' => 'Celebrating International Mountain Day 2013 Forging Partnerships For Practical Solutions',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Dr David Molden</strong></div>
<div>
	&nbsp;</div>
<div>
	As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership. The occasion was preceded by a four-day international conference on &lsquo;Addressing Poverty and Vulnerability in the Hindu Kush Himalayas&rsquo; attended by over 200 participants from 19 countries. The Conference, jointly organized with the Planning Commission of Nepal, primarily aimed at forging broader partnerships to enable transformative change, and to define the contours of a sustainable mountain development agenda. On this Mountain Day, let us seek new partnerships for sustainable mountain development, for mountain people, and the billions dependent on mountain services.</div>
<div>
	&nbsp;</div>
<div>
	In the spirit of partnership, I am happy to mention that coinciding with our 30th Anniversary, and in collaboration with GlacierWorks, together with the American Embassy, Thinc Design, photo.circle, Nepal Tourism Board, Nepal Art Council, and other partners, we have put up an exhibition titled &lsquo;Climate+Change&rsquo; in the heart of Kathmandu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I am also happy to mention that ICIMOD joins our regional member countries of Nepal, Pakistan, and Bangladesh in observing this very important Day. This year, the theme for the Day is &lsquo;Mountains - Key to a Sustainable Future&rsquo;. The focus is on celebrating how mountains are crucial in moving the world towards sustainable economic growth in the context of poverty eradication, and on drawing attention to their generally sustainable and low-emission production models.</div>
<div>
	&nbsp;</div>
<div>
	Mountains cover about 24 per cent of the global land surface and are home to 12 per cent of the world&rsquo;s population. They are a direct source of livelihood to 10 per cent of the world&rsquo;s people, and another 40 per cent derive indirect benefits from the wide varieties of goods and services afforded by the mountain socio-ecosystems. Mountains provide most of world&rsquo;s freshwater and are repositories of cultural and biological diversity. Today, it is acknowledged worldwide that mountain socio-ecosystems are crucial for sustainable development.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ep(1).jpg" style="float: right; margin: 0px 0px 0px 10px;
width: 300px; height: 369px;" /> In the Hindu Kush Himalayas (HKH) region, sometimes referred to as the Third Pole or the Water Towers of Asia, mountains are a direct source of livelihood for 210 million people. Further, mountain goods and services support another 1.3 billion people downstream. Glaciers of the HKH feed 10 major rivers that support extensive irrigation systems in the region. Yet, despite this vast natural wealth, mountain people are the ones who have often lived and continue to live in the margins of societies. In a succinct metaphor, they are like the poor and hungry servants who live in a palace made of gold and diamonds.</div>
<div>
	&nbsp;</div>
<div>
	Let me recall what the chief scientific adviser to the UK government, Sir John Beddington, cautioned in March 2009: that food, energy, and water shortages will unleash unrest and international conflicts. This food-energy-water security is intrinsically linked to mountains and mountain communities, and mountains therefore will play a very important political role in the future.</div>
<div>
	&nbsp;</div>
<div>
	However, mountains and their fragile socio-ecosystems today face a host of challenges: out-migration, mostly male; impacts of climate change including retreating glaciers, changing monsoon patterns, disaster frequency, and extreme events; depleting resources and ecosystem services; government neglect and insufficient private investment; and slow development progress compared to lowland areas.</div>
<div>
	&nbsp;</div>
<div>
	Let us recognize that change also brings significant opportunities. For these opportunities to bring about meaningful benefits to mountains communities, a sea change in the attitude of both policymakers and policy implementers is urgently required. Among others, mountains should not be seen as inaccessible or conflict zones, instead communities must rally around the common mountain agenda through collaborations and partnerships. Social development must focus on sustaining functional ecosystems, and broader partnerships must be forged to share mountain knowledge and data. The bond between democracy and sustainable development must be deepened by empowering local people, particularly women.</div>
<div>
	&nbsp;</div>
<div>
	At ICIMOD, in the last few years, we have been issuing forth a rallying call for a broader partnership for all actors to collaborate in finding practical solutions to the challenges facing the mountain communities. We have to seek ways to improve community resilience and explore sustainable livelihood options. We must work across disciplinary boundaries and focus on inclusive growth so that no one is left behind. We must devise innovative financing mechanisms and bring private sector on board the Mountain Agenda. And we must foster and enhance trans-boundary cooperation to share data and knowledge. In this connection, ICIMOD will continue to find ways to address the cross-border issues in the Post-2015 Development Agenda, and partner for talks on processes and the agenda being developed for UNFCCC to help share the voice of vulnerable mountain communities at the global level.</div>
<div>
	&nbsp;</div>
<div>
	As a mountain resource center, ICIMOD will continue to generate information, package it, and disseminate it to all the stakeholders. We will facilitate partnership building among various actors and stakeholders to enhance the capability of the mountain people to transform their own future. We will continue to raise awareness about the importance of mountains and highlight opportunities and constraints in mountain development. We will continue to promote development approach that incorporates mountain people&rsquo;s traditional knowledge in the context of a green economy. Above all, we will continue to seek new windows of opportunities in the area of sustainable mountain development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Dr Molden is the Director General of ICIMOD. The article is adapted from a speech he delivered on this year&rsquo;s International Mountain Day.)</em></div>',
			'published' => true,
			'created' => '2013-12-17',
			'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' => 'As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership.',
			'sortorder' => '2123',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2279',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EC Extends PR List Submission Deadline</strong></span></div>
<div>
	The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties. Earlier on December 9, a delegation of Nepali Congress vice-president Ram Chandra Poudel met with Chief Election Commissioner Nil Kantha Uprety and urged him to extend the deadline. Poudel said the political parties are in a process of dialogue and are trying to forge consensus and it would be appropriate to extend the deadline. CEC Uprety had responded positively to the request of NC. Political parties will share 335 PR seats in the 601-member Constituent Assembly based on the number of votes they have received in the November 19 CA elections.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Complaint against Kamal Thapa</strong></span></div>
<div>
	Seventeen central committee members of RPP-Nepal have filed a complaint at the Election Commission (EC) against the party&rsquo;s chairperson Kamal Thapa, saying that Thapa arbitrarily submitted the list of Proportional Representation (PR) nominees to the EC. &ldquo;The Constituent Assembly (CA) election ordinance clearly mentions that the PR list has to be finalized by a majority of the party&rsquo;s central committee,&rdquo; said Prahlad Sah, central assistant general secretary of RPP-N, &ldquo;However, the chairperson (Thapa) has submitted the list highhandedly and without discussing and getting it endorsed through the central committee,&rdquo; Sah said. He claimed that some of the PR nominees were not even ordinary members of the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singh Sets up Contact Office</strong></span></div>
<div>
	Nepali Congress General Secretary and newly elected Constituent Assembly member from Kathmandu Constituency-1, Prakashman Singh has set up a contact office for his constituency on Saturday. Singh inaugurated the office in Bijuli Bazar amid a program today. He said he would be available in the contact office every day for a certain time and will interact with people in order receive their complaints, suggestions and discuss development activities with them.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Urges Ex-cadres to Return to UML</strong></span></div>
<div>
	CPN-UML senior leader Madhav Kumar Nepal has called on the leaders and cadres, who have deserted UML to join other parties to return to the mother party. Nepal made the call while addressing the inaugural session of the 23rd Conference of All Nepal National Free Students&rsquo; Union, Koteshwor Multiple Campus Committee on December 13. On the occasion, he also claimed that the UML was the only patriotic and revolutionary party in the country. The UML leader said that his party would work towards taking the country on the path of prosperity by establishing ever-lasting peace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Not declaring emergency a mistake&rsquo;</strong></span></div>
<div>
	Former Prime Minister and senior UCPN (Moist) leader Dr Baburam Bhattarai has said that he made a mistake by not extending the term of the last Constituent Assembly (CA) through the declaration of a state of emergency. &nbsp; &ldquo;&hellip;on the night of the dissolution of the CA on May 28, 2012, I had thought about extending the deadline by imposing a state of emergency, although it meant taking the blame myself, and I did announce it but I had to step back under immense pressure, not only from opposition political leaders, but also from my own colleagues. This was the biggest mistake of my life and I very humbly accept it,&rdquo; Dr Bhattarai said in a statement.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties.',
			'sortorder' => '2122',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
			'sortorder' => '2121',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '2271',
			'article_category_id' => '122',
			'title' => 'Sakya Group: Refined Hospitality',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Yogendra Sakya, Chairman, Sakya Group" src="/userfiles/images/SP1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<strong>Yogendra Sakya</strong></div>
						<div>
							Chairman, Sakya Group</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.</div>
<div>
	&nbsp;</div>
<div>
	The journey of their business took a new turn with the establishment of Kathmandu Guest House (KGH) at Thamel in 1970s. Basanta Bahadur Sakya and his brother Karna Sakya turned their residential property, a Victorian palace built by Ranas into a 13 room hotel. Thamel then was a field where jackals roamed freely even during the day, say its promoters. KGH was followed by new hotels namely, Hotel Ambassador (1978), Marcopolo Business hotel (1998) and Club Himalaya Nagarkot (1998). Later, this joint-family split around the year 2000 and the KHG, a well-known brand, went to Karna Sakya while his nephews got some other businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The New Brand Journey</strong></span></div>
<div>
	Yogendra Sakya, Chairman of Sakya Group, says it was painful to suddenly lose the KGH association and start fresh. He adds that it was painful also because he was personally looking after the KGH. Meanwhile, he invested in Ace Institute of Management and Ace Development Bank as one of the major promoters. He branded his hotels as Ace Hotels and Resorts. Currently, Hotel Ambassador Lazimpat and Chhauni, Marcopolo Business Hotel, Club Himalaya Nagarkot, Trek-O-Tel Hotel, The Tea House Inn and Shanti Ban Resort are in operation under this umbrella brand of Ace Hotels. Though he lost the KGH brand name, his expertise gained since 1970s as professional hoteliers remained intact with him. This proved to be strong base needed for advancing in the hospitality business.</div>
<div>
	&nbsp;</div>
<div>
	One of the transformation during the rebranding process was promoting Ace Hotels and Resorts as a mid range hotels, a move from the image of budget hotel. Club Himalaya Resort is the signature hotel that assisted in this transformation. Sakya explains, &ldquo;We are not five star hotels and we have targeted our brand at adventure tourists. We know that they don&rsquo;t come for luxury. This is the market of Nepal and our speciality too.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Sakya family invests and also manages the groups&rsquo; hotel wing while Sakya Investment Company makes investment in various sectors. According to Sakya, the company has invested in banking and financial sectors and they are one of the promoters in Nepal Investment Bank and Ace Development Bank. Likewise the company has investments in real estate as well as a printing press. Similarly, Idea Group has investment in the education industry through Malpi Group of Schools. Sakya says that the group&rsquo;s total investment crosses Rs 1 billion and makes an annual turnover of around Rs 1.25 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Business Expansion</strong></span></div>
<div>
	The group is rebuilding Hotel Ambassador Lazimpat from the ground. The group demolished its building when the road expansion drive of Kathmandu needed to break a portion of hotel. Sakya says that the hotel will be built as a four star property in next two years. He reveals that Rs 300 million is invested in the rebuilding and he is expecting that the budget will cross its limit. Sakya says that he took the challenge as an opportunity and only the time will tell that it is for the better.</div>
<div>
	&nbsp;</div>
<div>
	For the time being, guests of Hotel Ambassador, Lazimpat are accommodated at Hotel Ambassador, Chh auni. Sakya says that the buildings at Chhauni were designed as apartment for the Sakya family. But the need turned it into the hotel and he adds that it was mainly done to keep the Hotel Ambassador open for two years &ndash; until the construction completes at Lazimpat. However, Sakya says that he has plans to continue this property at Chhauni as an apartment hotel. Ambassador Chhauni has 25 rooms and 14 apartments.</div>
<div>
	&nbsp;</div>
<div>
	The group has a couple of other hotels in the pipeline. Sakya says that the group had planned to complete Sakya Heritage Hotel targeting upmarket clients at Nagpokhari. The plan has been postponed because of the demolition of Ambassador that required priority to reconstruct. Along with that the group is planning to complete the resort project in Chitwan &ndash; Club Wilderness, after present projects are completed. Sakya says that the Club Wilderness project was postponed considering the surge in the number of new hotels and lodges in Chitwan.Stating that the project is not dropped, he adds that the resort will be built with a new concept of serving tourists especially visiting both Chitwan and Lumbini.</div>
<div>
	&nbsp;</div>
<div>
	Sakya says that he wants to go step by step in the business rather than jumping at once into 10 hotel projects. &ldquo;We start a business small and let it grow. Once it stands firmly on solid ground, we move forward,&rdquo; says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/SP3%20(Copy).jpg" style="width: 550px; height: 629px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities Galore</strong></span></div>
<div>
	Sakya believes that China and India are Nepal&rsquo;s two economic giant neighbours, from where tourists can walk, fly or ride to Kathmandu. He predicts that these two countries will be the biggest tourism market for Nepal. &ldquo;Nepal&rsquo;s tourism was discovered. We never planted it,&rdquo; he says expressing discontent with the tourism promotion strategy. He suggests that Nepal should be going directly to the consumers when it comes to promotion rather than to the tour operators. &ldquo;There is a huge untapped market for us. &nbsp;If we can explore Chinese and Indian markets, we can bring two million tourists every year. The only challenge is in finding way to reach the consumers,&rdquo;&nbsp;</div>
<div>
	he adds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The trend of bringing international chain hotel brands has revived in Nepal with big names like Marriot and Sheraton landing in Nepal soon. &nbsp;However, Sakya rules out the possibility of his group&rsquo;s partnership with an international brand.&ldquo;You don&rsquo;t have to borrow international name to succeed. Rise of the Internet, and e-marketing, has enabled clients to analyse features of local brand right on their devices. Local names too can be sold through this channel. Individual products can be directly brought to the customers attention and sold well.&rdquo; At present, 20 per cent of total sales in the tourism industry are made through online booking, says Sakya. He explains that there are big opportunities for local products for creating independent brand name. &ldquo;We would like to make our own hotel chain at the domestic level, if not international,&rdquo; adds Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<span style="font-size:16px;"><strong>Some Companies under Group</strong></span></div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Lazimpat</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Chhauni</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Marcopolo Business Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Club Himalaya Nagarkot</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Trek-O-Tel Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Shati Ban Resort</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Tea House Inn</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>MarcoPolo Travels Nepal</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Ace Development Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Investment Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Malpi Group of Schools</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>IT Himalaya &ndash; A Dutch- Nepali Joint Venture</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Mata International</div>
									<div>
										&nbsp;</div>
									<div>
										<img alt="Ace Development Bank" src="/userfiles/images/SP4%20(Copy).jpg" style="width: 550px; height: 458px; margin-left: 10px; margin-right: 10px;" /></div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Hands-on Management&nbsp;</strong></span></div>
									<div>
										Being professional hoteliers, Sakyas love to invest as well as manage their hotel and resort projects. So, the Sakya couple and also the next generation businessmen are looking after their hospitality ventures. Yogendra Sakya looks after finance and planning while his son and daughter are looking after product development and marketing respectively. &ldquo;Weare professionally hoteliers. Elsewhere we are just investors,&rdquo; Sakya explains who is also a Hotel Management graduate.</div>
									<div>
										&nbsp;</div>
									<div>
										Currently,300 employees are working in the hotel projects alone. Lately unionisation has become one of the major challenges for the management, Sakya says. His companies do not have unions apart from Club Himalaya because he deals directly with the staff in other hotels. Though some responsibilities are taken by the promoters too, the management team looks after all major responsibilities. Sakya communicates personally with his managers daily and spends around two hours every day to review the progress of the hotel. He says that the Internet and technology has greatly assisted the management process.</div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Direct &amp; Holistic CSR</strong></span></div>
									<div>
										Sakya Group believes more in direct involving in activities that contribute to the overall development of the community and the area, rather than providing financial support to causes. &ldquo;There must be something that we do on our own,&rdquo; he said while giving an example of group&rsquo;s contribution to Nagarkot.</div>
									<div>
										&nbsp;</div>
									<div>
										He recalls that there was no proper road when Club Himalaya was established in Nagarkot and the group strongly advocated for proper road construction. Sakya takes the road development in Nagarkot as an important part of tourism development there and an important corporate social responsibility undertaken by his group.</div>
									<div>
										&nbsp;</div>
									<div>
										Similarly, the group also provided drinking water facility to the locals and installed telephone tower at its resort premises. Likewise, a police station was established through the resort&rsquo;s initiation. Sakya claims that electricity supply was extended in the area due to his company&rsquo;s initiation. Staircase construction is ongoing at Mahadev Pokhari in Nagarkot. According to Sakya, various trainings are provided and a health post too is established in his company&rsquo;s partnership with local bodies. According to him, these development works are part of the group&rsquo;s belief in directly involving in development initiatives rather than just providing financial support.</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>',
			'published' => true,
			'created' => '2013-12-16',
			'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' => 'Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.',
			'sortorder' => '2119',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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 60]
Code Context
//    $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '2291',
			'article_category_id' => '109',
			'title' => 'NRB Asks Banks To Get Ready For Basel III',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004. When Basel III comes in full implementation, most of the Nepali banks will be required to increase their paid up capital by up to Rs 5 billion depending on their exposure on risky assets. As per the Basel II framework, the paid up capital requirement for the commercial banks in Nepal is currently capped at Rs 2 billion. After the implementation new provision, banks are required to increase their minimum capital, equity capital ratio and buffer capital.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bankers Say the Framework Won&#39;t Hurt Their Profits&nbsp;</div>
<div>
	While the central bank is in last minute preparations to implement the Basel III, commercial bankers are looking more confident on the new regulatory framework. They are expecting Nepali banking sector to be more effective, strong and competitive. Currently, NBR is gathering suggestions from the banking sector regarding the new regulatory standard. &quot;NRB&#39;s decision and preparation to enforce Basel III is very timely and appropriate,&quot; said Bhuwan Dahal, CEO of the Sanima Bank. &quot;It won&#39;t hurt the profit of banks, the framework will further strengthen Nepal&#39;s entire financial system.&quot; &nbsp;According to him, many of the Nepali banking system&#39;s current provisions will remain intact even after the implementation of new framework, due to which the chances of decline in banks profit is minimum. Another CEO of a commercial bank also agreed with Dahal&#39;s view. &quot;Short-term profits of banks may come down after the enforcement of Basel III but it is likely to rise on the long-term,&quot; he said under the condition of anonymity adding,&quot; Distribution of dividend and profit may be affected for some time, however, these impacts will gradually lessen after the full implement of the regulatory framework.&quot; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, some bankers are also voicing their concerns. Upendra Paudel, Vice-President of Nepal Bankers Association (NBA) said that if the new standard is enforced in the current scenario it may reduce the commercial capabilities of Nepali banks. &quot;It is good to introduce the global framework in our country, however, some practical problems may persist,&quot; he said. Paudel informed that NBA will submit its suggestions to NRB to solve such problems.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What is Basel III Framework?</div>
<div>
	Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on capital adequacy, stress testing and market liquidity risk of banks. It is a set of standards and practices created to ensure that banks across the world maintain adequate capital to sustain themselves during periods of economic strain.</div>
<div>
	&nbsp;</div>
<div>
	It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11, and was scheduled to be introduced from 2013 until 2015; however, changes from April 1, 2013 extended implementation until March 31, 2018. Basel III was developed in response to the deficiencies in financial regulation revealed by the global financial crisis of 2008-09 followed by the sovereign debt crisis of Eurozone. The name for the accord is derived from Basel, Switzerland, where the committee, that maintains the accord, meets.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004.',
			'sortorder' => '2133',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2290',
			'article_category_id' => '110',
			'title' => 'Top Ten Losers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Losers',
			'sortorder' => '2132',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2289',
			'article_category_id' => '111',
			'title' => 'Top Ten Gainers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Gainers',
			'sortorder' => '2131',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2288',
			'article_category_id' => '112',
			'title' => 'Weekly Gold And Silver Price (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Weekly Gold And Silver Price',
			'sortorder' => '2130',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2287',
			'article_category_id' => '113',
			'title' => 'US Dollar Exchange Rate At Local Market (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'US Dollar Exchange Rate at Local Market (9 - 15 December 2013)',
			'sortorder' => '2129',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '2286',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>PABSON&rsquo;s SLC Qualification Evaluation Exam from Jan 19&nbsp;</strong></span></div>
<div>
	The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>KU Celebrates 19th Convocation Ceremony</strong></span></div>
<div>
	Kathmandu University (KU) conducted its 19th convocation ceremony on Friday, 13th December. 2050 graduates, of which 884 (43.08%) were females, received their degrees in the ceremony. Similarly, 282 (13.74%) foreign students belonging to Australia,Austria, Bhutanese Refugee, Bangladesh, Canada, Germany, India, Latvian, Sweden, Switzerland, Sri Lanka, Russia, USA, Ukraine, Zambia and other nations, also received degrees in undergraduate, graduate, and postgraduate programs along with M. Phil and PhD. This year twelve candidates were awarded PhD Degree.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four TU, KU Academicians Disqualified</strong></span></div>
<div>
	The University Grants Commission (UGC) has blacklisted four professors affiliated to Tribhuvan University (TU) and Kathmandu University (KU) on charges of plagiarism. These professors were found lifting the contents from their previous works in research papers presented to the UGC seeking grants. So balcklisted academicians include Professor at the School of Education at the KU, Dhanpati Subedi as well as professions of TU Central Department of Chemistry. Megh Raj Pokhrel, Dev Bahadur Khadka and Kedar Nath Ghimire. The UGC&rsquo;s evaluation committee led by Prof Krishna Bahadur Manandhar, also former secretary at NAST, had evaluated their papers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dean of IoM Resigns</strong></span></div>
<div>
	Dr Prakash Sayami, Dean of the Institute of Medicine (IoM), has once again resigned from his post citing mounting pressure from authorities to provide affiliation to new medical colleges. This is the second time that Dr Sayami has resigned. Before this he had resigned from the post on November 6, 2012, citing non-cooperation from Tribhuvan University (TU) officials. However at that time officials at the University did not approve his resignation. The affiliation row between TU and IoM soared after the university, published a notice calling for applications for its affiliation from colleges that have received consent letter, known as the Letter of Intent (LoI), from the Ministry of Education.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CIAA Investigating Medical Colleges</strong></span></div>
<div>
	The Commission for the Investigation of Abuse of Authority (CIAA) has started investigating allegations levelled against Nobel Medical College in Biratnagar. The CIAA has received complaints against the college about its affiliation and quota distribution. Similarly, CIAA has also monitored and investigated the Universal College of Medical Sciences in Bhairahawa on Wednesday 11th November and Thursday, 12th November.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Human Rights Day Observed</strong></span></div>
<div>
	International Human Rights Day was observed throughout the country organizing different programmes. This year International Human Rights Day was celebrated with the worldwide slogan, &acute;Speak Up, Stop Discrimination&acute; and the national slogan &acute;Collective Solidarity for Democracy and Peace, National Commitment to Timely Constitution in favour of Human Rights.&acute;Human Rights Day is held on 10 December every year. The United Nations General Assembly adopted the Universal Declaration of Human Rights in 1950, proclaiming its principles as the &ldquo;common standard of achievement for all peoples and all nations.&rdquo;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.',
			'sortorder' => '2128',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2284',
			'article_category_id' => '151',
			'title' => 'Study Management  In Best Business Schools',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WhiteHouse Graduate School of Management</strong></span></div>
<div>
	<img alt="WhiteHouse GSM" src="/userfiles/images/wgsm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 199px;" />WhiteHouse Graduate School of Management (WhiteHouse GSM) was established in 2001 with the motto, &ldquo;Think Now. Think Smart. Think Ahead.&rdquo;The college has been envisioned as a center to provide excellent management education and research opportunities. Its specially tailored courses inculcate professional skills and capabilities in the students and engrain in them entrepreneurial and business leadership qualities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Courses provided by the college are student-centered and include ample of research opportunities that help in expanding the frontiers of student&rsquo;s knowledge about business. Its courses are responsive to demands of national and international economy and it imbibes in it strategies for providing students better understanding of globalization, sustainability, ethical entrepreneurship and innovative approaches in business management.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Under the corporate umbrella of WhiteHouse Education Network, WhiteHouse GSM offers four-year Bachelor in Business Administration (BBA) and Bachelor in Liberal Arts &amp; Sciences (BLAS) programmes at the undergraduate level.In addition, it also offers two-year Master in Business Administration (MBA) and Executive MBA programs at the postgraduate level.</div>
<div>
	&nbsp;</div>
<div>
	The college imparts education through the use of advanced and student-friendly teaching-learning methodologies like group interactive lectures, discussions, seminars, case studies, project work, industrial visits, presentations along with internship opportunities in reputed corporations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Located at the heart of the city, Mid-Baneshwor, WhiteHouse GSM is an applied management school for individuals who aspire to build enterprises on their own. At the same time, its professional programmes aim to produce managers who can handle government and private organizations efficiently.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<div>
											<img alt="Sambhu K Dahal" src="/userfiles/images/sd(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 248px;" /><span style="font-size:14px;"><strong>Sambhu K. Dahal</strong></span></div>
										<div>
											<span style="font-size:14px;">Programme Director, WhiteHouse GSM</span></div>
										<div>
											&nbsp;</div>
										<div>
											Guru mantra of management is knowledge, skill and attitude. Knowledge can be obtained in any schools or institutions. Main thing that our college does is to enable students with capacity to transform knowledge into skill.&nbsp;</div>
										<div>
											&nbsp;</div>
										<div>
											The basic objective of our college is providing knowledge and converting that knowledge into skill and to improve the attitude of the student. We have some of the best faculty members and have the best physical infrastructure for providing standard education. Job placements are an important aspect of professional education courses. So far, our graduates have secured best positions in leading business organizations. Our College not only gives education but also helps them to be good entrepreneurs.</div>
									</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	<div>
		<span style="font-size:16px;"><strong>Thames International College</strong></span></div>
	<div>
		<img alt="Thames International College" src="/userfiles/images/tic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 238px;" />Thames International College started its journey of serving Nepali youth in collegiate studies a decade ago.</div>
	<div>
		&nbsp;</div>
	<div>
		The college extends realistic assistance to young and aspiring adults in choosing academic course that meets their career ambition. It provides atmosphere where learning is not a forced compulsion but a creatively involving activity.</div>
	<div>
		&nbsp;</div>
	<div>
		The college concentrates on developing overall personality of its students instead of solely focusing on excelling in examinations. It believes that knowledge lies also beyond text books.</div>
	<div>
		&nbsp;</div>
	<div>
		Thames assists its students to identify their own strengths and weaknesses and provides opportunity to sharpen their own talents to overcome weaknesses. And all these services are provided through utmost professionalism. Thames concentrates on making the students realize the high competition in the outside world and how a strong academic back-up can assist them to excel in the competition.</div>
	<div>
		&nbsp;</div>
	<div>
		The college offers Bachelor&rsquo;s in Business Studies (BBA), Bachelor&rsquo;s in Information Management (BIM) and Bachelors&rsquo; in Rural Development and Social Work.</div>
	<div>
		&nbsp;</div>
	<div>
		Located in the heart of the Kathmandu city, Old Baneshwor, the campus embodies a lifestyle appropriate for students where options for accommodation, transportation, shopping and entertainment are available as required by the students.</div>
	<div>
		&nbsp;</div>
</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<img alt="Rajendra Man Shrestha" src="/userfiles/images/rms.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 247px;" /></div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Rajendra Man Sherchan&nbsp;</span></strong></div>
						<div>
							<span style="font-size:14px;">Chairman</span></div>
						<div>
							<span style="font-size:14px;">Thames International College</span></div>
						<div>
							&nbsp;</div>
						<div>
							Thames International College is dedicated to students&rsquo; education. It works for the welfare of the students. It not only focuses on imparting theoretical education but also equally focuses on providing practical education. We emphasize on workshops, seminars, field visits and personal interaction with the real world to provide ample exposure to students. Beside providing guidance on book-based knowledge, our teaching approaches assist the students in being highly competitive graduates that can sell their skills in the market. Placement of our graduates is good.</div>
					</div>
				</div>
				<div>
					&nbsp;</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	<em>(Both Colleges have been awarded the 6th Best Business Schools in Nepal by National Business Schools Rating-Ranking Awards, 2013 presented by New Business Age.)</em></p>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.',
			'sortorder' => '2127',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2282',
			'article_category_id' => '86',
			'title' => 'Businessman’s Revenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: &lsquo;I noticed that you are carrying a TV remote control. What may be the reason?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	The businessman said: &lsquo;My wife always refuses to come to the cocktail parties. So I figured out this as the most evil thing I could do to her legally.&rsquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>&nbsp; &nbsp; -ML</strong></div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: ‘I noticed that you are carrying a TV remote control. What may be the reason?’',
			'sortorder' => '2125',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2281',
			'article_category_id' => '144',
			'title' => 'Tackling Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Last week brought some good news for the Nepali economy. The growth rate of the country&rsquo;s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent. Trade experts are citing increase in the export of woolen carpets, readymade garments, pashmina and handicrafts &ndash; some of the country&rsquo;s major exportable items &ndash; and a drastic decrease in the import of gold as the major reasons behind the significant drop in the trade deficit.</div>
<div>
	&nbsp;</div>
<div>
	The decrease in trade deficit is significant because it has taken place in spite of a sharp increase of 14.4 per cent in the import of petroleum products. Nepal&rsquo;s total export in the first four months of this fiscal year stands at around Rs 29.62 billion whereas the import of petroleum products alone has been worth more than Rs 37.85 billion over this period. However, we can take a sigh of relief as the import of gold has declined by 29.6 per cent and stood at Rs 6.29 billion in the first four months of the current fiscal year as compared to the same period last year. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is no doubt that the best way to tackle the trade deficit problem is increasing our exports. The government acknowledged this fact and set a target of increasing our total annual exports to the tune of Rs 100 billion in the last fiscal year itself. The target could not be reached in the last fiscal year. But there are some early signs that this target could be reached this fiscal year. The export of cardamom, honey, noodles, handmade paper and Pashmina &ndash; some of the major exportable items identified by Nepal Trade Integration Strategy 2010 &ndash; has gone up in the first four months of this fiscal year.</div>
<div>
	&nbsp;</div>
<div>
	Available trade statistics show that our exports go up when there are no industrial strikes. That is one of the major reasons for the recent increase in exports. Therefore, to make the decrease in trade deficit sustainable, the political parties and the trade unions affiliated to them must commit to make the industrial sector a strike-free zone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides encouraging exports, we should also focus on discouraging the imports of items such as gold and petroleum and substituting the import of commodities such as iron and steel. The policy of discouraging the import of gold should be given continuity. Though the demand for gold cannot be controlled by banning imports, there can be ways to meet the demand for gold for investment purpose as shown by India which has allowed the banks to accept &lsquo;gold deposits&rsquo; whereby the bank buys gold on the name of the customer in the international market with the money the bank has parked abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To lower the import of petroleum, the government should allow the mixing of permissible amount of ethanol in petrol. Many countries are already doing this. Ethanol is produced as a byproduct by the sugar factories.</div>
<div>
	&nbsp;</div>
<div>
	On the other hand, the sugar factories produce electricity by converting thermal energy into electrical energy. This electricity which is produced by the burning of bagasse is more than the factories require. The government should buy the surplus electricity thus produced by the sugar factories. This way, we can add 20 to 25 MW of electricity to the national grid. This step would not only help us tackle the load-shedding problem to some extent but also help us partly substitute the import of diesel which is burnt to produce electricity for industries.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, to substitute the import of iron and steel to some extent, we should start extracting iron from the identified mines and also explore new iron mines. But the irony is that the mines from where the metal used to be extracted traditionally are closed down. This process must be reversed.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Last week brought some good news for the Nepali economy. The growth rate of the country’s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent.',
			'sortorder' => '2124',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2280',
			'article_category_id' => '145',
			'title' => 'Celebrating International Mountain Day 2013 Forging Partnerships For Practical Solutions',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Dr David Molden</strong></div>
<div>
	&nbsp;</div>
<div>
	As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership. The occasion was preceded by a four-day international conference on &lsquo;Addressing Poverty and Vulnerability in the Hindu Kush Himalayas&rsquo; attended by over 200 participants from 19 countries. The Conference, jointly organized with the Planning Commission of Nepal, primarily aimed at forging broader partnerships to enable transformative change, and to define the contours of a sustainable mountain development agenda. On this Mountain Day, let us seek new partnerships for sustainable mountain development, for mountain people, and the billions dependent on mountain services.</div>
<div>
	&nbsp;</div>
<div>
	In the spirit of partnership, I am happy to mention that coinciding with our 30th Anniversary, and in collaboration with GlacierWorks, together with the American Embassy, Thinc Design, photo.circle, Nepal Tourism Board, Nepal Art Council, and other partners, we have put up an exhibition titled &lsquo;Climate+Change&rsquo; in the heart of Kathmandu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I am also happy to mention that ICIMOD joins our regional member countries of Nepal, Pakistan, and Bangladesh in observing this very important Day. This year, the theme for the Day is &lsquo;Mountains - Key to a Sustainable Future&rsquo;. The focus is on celebrating how mountains are crucial in moving the world towards sustainable economic growth in the context of poverty eradication, and on drawing attention to their generally sustainable and low-emission production models.</div>
<div>
	&nbsp;</div>
<div>
	Mountains cover about 24 per cent of the global land surface and are home to 12 per cent of the world&rsquo;s population. They are a direct source of livelihood to 10 per cent of the world&rsquo;s people, and another 40 per cent derive indirect benefits from the wide varieties of goods and services afforded by the mountain socio-ecosystems. Mountains provide most of world&rsquo;s freshwater and are repositories of cultural and biological diversity. Today, it is acknowledged worldwide that mountain socio-ecosystems are crucial for sustainable development.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ep(1).jpg" style="float: right; margin: 0px 0px 0px 10px;
width: 300px; height: 369px;" /> In the Hindu Kush Himalayas (HKH) region, sometimes referred to as the Third Pole or the Water Towers of Asia, mountains are a direct source of livelihood for 210 million people. Further, mountain goods and services support another 1.3 billion people downstream. Glaciers of the HKH feed 10 major rivers that support extensive irrigation systems in the region. Yet, despite this vast natural wealth, mountain people are the ones who have often lived and continue to live in the margins of societies. In a succinct metaphor, they are like the poor and hungry servants who live in a palace made of gold and diamonds.</div>
<div>
	&nbsp;</div>
<div>
	Let me recall what the chief scientific adviser to the UK government, Sir John Beddington, cautioned in March 2009: that food, energy, and water shortages will unleash unrest and international conflicts. This food-energy-water security is intrinsically linked to mountains and mountain communities, and mountains therefore will play a very important political role in the future.</div>
<div>
	&nbsp;</div>
<div>
	However, mountains and their fragile socio-ecosystems today face a host of challenges: out-migration, mostly male; impacts of climate change including retreating glaciers, changing monsoon patterns, disaster frequency, and extreme events; depleting resources and ecosystem services; government neglect and insufficient private investment; and slow development progress compared to lowland areas.</div>
<div>
	&nbsp;</div>
<div>
	Let us recognize that change also brings significant opportunities. For these opportunities to bring about meaningful benefits to mountains communities, a sea change in the attitude of both policymakers and policy implementers is urgently required. Among others, mountains should not be seen as inaccessible or conflict zones, instead communities must rally around the common mountain agenda through collaborations and partnerships. Social development must focus on sustaining functional ecosystems, and broader partnerships must be forged to share mountain knowledge and data. The bond between democracy and sustainable development must be deepened by empowering local people, particularly women.</div>
<div>
	&nbsp;</div>
<div>
	At ICIMOD, in the last few years, we have been issuing forth a rallying call for a broader partnership for all actors to collaborate in finding practical solutions to the challenges facing the mountain communities. We have to seek ways to improve community resilience and explore sustainable livelihood options. We must work across disciplinary boundaries and focus on inclusive growth so that no one is left behind. We must devise innovative financing mechanisms and bring private sector on board the Mountain Agenda. And we must foster and enhance trans-boundary cooperation to share data and knowledge. In this connection, ICIMOD will continue to find ways to address the cross-border issues in the Post-2015 Development Agenda, and partner for talks on processes and the agenda being developed for UNFCCC to help share the voice of vulnerable mountain communities at the global level.</div>
<div>
	&nbsp;</div>
<div>
	As a mountain resource center, ICIMOD will continue to generate information, package it, and disseminate it to all the stakeholders. We will facilitate partnership building among various actors and stakeholders to enhance the capability of the mountain people to transform their own future. We will continue to raise awareness about the importance of mountains and highlight opportunities and constraints in mountain development. We will continue to promote development approach that incorporates mountain people&rsquo;s traditional knowledge in the context of a green economy. Above all, we will continue to seek new windows of opportunities in the area of sustainable mountain development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Dr Molden is the Director General of ICIMOD. The article is adapted from a speech he delivered on this year&rsquo;s International Mountain Day.)</em></div>',
			'published' => true,
			'created' => '2013-12-17',
			'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' => 'As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership.',
			'sortorder' => '2123',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2279',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EC Extends PR List Submission Deadline</strong></span></div>
<div>
	The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties. Earlier on December 9, a delegation of Nepali Congress vice-president Ram Chandra Poudel met with Chief Election Commissioner Nil Kantha Uprety and urged him to extend the deadline. Poudel said the political parties are in a process of dialogue and are trying to forge consensus and it would be appropriate to extend the deadline. CEC Uprety had responded positively to the request of NC. Political parties will share 335 PR seats in the 601-member Constituent Assembly based on the number of votes they have received in the November 19 CA elections.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Complaint against Kamal Thapa</strong></span></div>
<div>
	Seventeen central committee members of RPP-Nepal have filed a complaint at the Election Commission (EC) against the party&rsquo;s chairperson Kamal Thapa, saying that Thapa arbitrarily submitted the list of Proportional Representation (PR) nominees to the EC. &ldquo;The Constituent Assembly (CA) election ordinance clearly mentions that the PR list has to be finalized by a majority of the party&rsquo;s central committee,&rdquo; said Prahlad Sah, central assistant general secretary of RPP-N, &ldquo;However, the chairperson (Thapa) has submitted the list highhandedly and without discussing and getting it endorsed through the central committee,&rdquo; Sah said. He claimed that some of the PR nominees were not even ordinary members of the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singh Sets up Contact Office</strong></span></div>
<div>
	Nepali Congress General Secretary and newly elected Constituent Assembly member from Kathmandu Constituency-1, Prakashman Singh has set up a contact office for his constituency on Saturday. Singh inaugurated the office in Bijuli Bazar amid a program today. He said he would be available in the contact office every day for a certain time and will interact with people in order receive their complaints, suggestions and discuss development activities with them.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Urges Ex-cadres to Return to UML</strong></span></div>
<div>
	CPN-UML senior leader Madhav Kumar Nepal has called on the leaders and cadres, who have deserted UML to join other parties to return to the mother party. Nepal made the call while addressing the inaugural session of the 23rd Conference of All Nepal National Free Students&rsquo; Union, Koteshwor Multiple Campus Committee on December 13. On the occasion, he also claimed that the UML was the only patriotic and revolutionary party in the country. The UML leader said that his party would work towards taking the country on the path of prosperity by establishing ever-lasting peace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Not declaring emergency a mistake&rsquo;</strong></span></div>
<div>
	Former Prime Minister and senior UCPN (Moist) leader Dr Baburam Bhattarai has said that he made a mistake by not extending the term of the last Constituent Assembly (CA) through the declaration of a state of emergency. &nbsp; &ldquo;&hellip;on the night of the dissolution of the CA on May 28, 2012, I had thought about extending the deadline by imposing a state of emergency, although it meant taking the blame myself, and I did announce it but I had to step back under immense pressure, not only from opposition political leaders, but also from my own colleagues. This was the biggest mistake of my life and I very humbly accept it,&rdquo; Dr Bhattarai said in a statement.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties.',
			'sortorder' => '2122',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
			'sortorder' => '2121',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '2271',
			'article_category_id' => '122',
			'title' => 'Sakya Group: Refined Hospitality',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Yogendra Sakya, Chairman, Sakya Group" src="/userfiles/images/SP1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<strong>Yogendra Sakya</strong></div>
						<div>
							Chairman, Sakya Group</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.</div>
<div>
	&nbsp;</div>
<div>
	The journey of their business took a new turn with the establishment of Kathmandu Guest House (KGH) at Thamel in 1970s. Basanta Bahadur Sakya and his brother Karna Sakya turned their residential property, a Victorian palace built by Ranas into a 13 room hotel. Thamel then was a field where jackals roamed freely even during the day, say its promoters. KGH was followed by new hotels namely, Hotel Ambassador (1978), Marcopolo Business hotel (1998) and Club Himalaya Nagarkot (1998). Later, this joint-family split around the year 2000 and the KHG, a well-known brand, went to Karna Sakya while his nephews got some other businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The New Brand Journey</strong></span></div>
<div>
	Yogendra Sakya, Chairman of Sakya Group, says it was painful to suddenly lose the KGH association and start fresh. He adds that it was painful also because he was personally looking after the KGH. Meanwhile, he invested in Ace Institute of Management and Ace Development Bank as one of the major promoters. He branded his hotels as Ace Hotels and Resorts. Currently, Hotel Ambassador Lazimpat and Chhauni, Marcopolo Business Hotel, Club Himalaya Nagarkot, Trek-O-Tel Hotel, The Tea House Inn and Shanti Ban Resort are in operation under this umbrella brand of Ace Hotels. Though he lost the KGH brand name, his expertise gained since 1970s as professional hoteliers remained intact with him. This proved to be strong base needed for advancing in the hospitality business.</div>
<div>
	&nbsp;</div>
<div>
	One of the transformation during the rebranding process was promoting Ace Hotels and Resorts as a mid range hotels, a move from the image of budget hotel. Club Himalaya Resort is the signature hotel that assisted in this transformation. Sakya explains, &ldquo;We are not five star hotels and we have targeted our brand at adventure tourists. We know that they don&rsquo;t come for luxury. This is the market of Nepal and our speciality too.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Sakya family invests and also manages the groups&rsquo; hotel wing while Sakya Investment Company makes investment in various sectors. According to Sakya, the company has invested in banking and financial sectors and they are one of the promoters in Nepal Investment Bank and Ace Development Bank. Likewise the company has investments in real estate as well as a printing press. Similarly, Idea Group has investment in the education industry through Malpi Group of Schools. Sakya says that the group&rsquo;s total investment crosses Rs 1 billion and makes an annual turnover of around Rs 1.25 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Business Expansion</strong></span></div>
<div>
	The group is rebuilding Hotel Ambassador Lazimpat from the ground. The group demolished its building when the road expansion drive of Kathmandu needed to break a portion of hotel. Sakya says that the hotel will be built as a four star property in next two years. He reveals that Rs 300 million is invested in the rebuilding and he is expecting that the budget will cross its limit. Sakya says that he took the challenge as an opportunity and only the time will tell that it is for the better.</div>
<div>
	&nbsp;</div>
<div>
	For the time being, guests of Hotel Ambassador, Lazimpat are accommodated at Hotel Ambassador, Chh auni. Sakya says that the buildings at Chhauni were designed as apartment for the Sakya family. But the need turned it into the hotel and he adds that it was mainly done to keep the Hotel Ambassador open for two years &ndash; until the construction completes at Lazimpat. However, Sakya says that he has plans to continue this property at Chhauni as an apartment hotel. Ambassador Chhauni has 25 rooms and 14 apartments.</div>
<div>
	&nbsp;</div>
<div>
	The group has a couple of other hotels in the pipeline. Sakya says that the group had planned to complete Sakya Heritage Hotel targeting upmarket clients at Nagpokhari. The plan has been postponed because of the demolition of Ambassador that required priority to reconstruct. Along with that the group is planning to complete the resort project in Chitwan &ndash; Club Wilderness, after present projects are completed. Sakya says that the Club Wilderness project was postponed considering the surge in the number of new hotels and lodges in Chitwan.Stating that the project is not dropped, he adds that the resort will be built with a new concept of serving tourists especially visiting both Chitwan and Lumbini.</div>
<div>
	&nbsp;</div>
<div>
	Sakya says that he wants to go step by step in the business rather than jumping at once into 10 hotel projects. &ldquo;We start a business small and let it grow. Once it stands firmly on solid ground, we move forward,&rdquo; says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/SP3%20(Copy).jpg" style="width: 550px; height: 629px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities Galore</strong></span></div>
<div>
	Sakya believes that China and India are Nepal&rsquo;s two economic giant neighbours, from where tourists can walk, fly or ride to Kathmandu. He predicts that these two countries will be the biggest tourism market for Nepal. &ldquo;Nepal&rsquo;s tourism was discovered. We never planted it,&rdquo; he says expressing discontent with the tourism promotion strategy. He suggests that Nepal should be going directly to the consumers when it comes to promotion rather than to the tour operators. &ldquo;There is a huge untapped market for us. &nbsp;If we can explore Chinese and Indian markets, we can bring two million tourists every year. The only challenge is in finding way to reach the consumers,&rdquo;&nbsp;</div>
<div>
	he adds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The trend of bringing international chain hotel brands has revived in Nepal with big names like Marriot and Sheraton landing in Nepal soon. &nbsp;However, Sakya rules out the possibility of his group&rsquo;s partnership with an international brand.&ldquo;You don&rsquo;t have to borrow international name to succeed. Rise of the Internet, and e-marketing, has enabled clients to analyse features of local brand right on their devices. Local names too can be sold through this channel. Individual products can be directly brought to the customers attention and sold well.&rdquo; At present, 20 per cent of total sales in the tourism industry are made through online booking, says Sakya. He explains that there are big opportunities for local products for creating independent brand name. &ldquo;We would like to make our own hotel chain at the domestic level, if not international,&rdquo; adds Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<span style="font-size:16px;"><strong>Some Companies under Group</strong></span></div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Lazimpat</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Chhauni</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Marcopolo Business Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Club Himalaya Nagarkot</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Trek-O-Tel Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Shati Ban Resort</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Tea House Inn</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>MarcoPolo Travels Nepal</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Ace Development Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Investment Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Malpi Group of Schools</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>IT Himalaya &ndash; A Dutch- Nepali Joint Venture</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Mata International</div>
									<div>
										&nbsp;</div>
									<div>
										<img alt="Ace Development Bank" src="/userfiles/images/SP4%20(Copy).jpg" style="width: 550px; height: 458px; margin-left: 10px; margin-right: 10px;" /></div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Hands-on Management&nbsp;</strong></span></div>
									<div>
										Being professional hoteliers, Sakyas love to invest as well as manage their hotel and resort projects. So, the Sakya couple and also the next generation businessmen are looking after their hospitality ventures. Yogendra Sakya looks after finance and planning while his son and daughter are looking after product development and marketing respectively. &ldquo;Weare professionally hoteliers. Elsewhere we are just investors,&rdquo; Sakya explains who is also a Hotel Management graduate.</div>
									<div>
										&nbsp;</div>
									<div>
										Currently,300 employees are working in the hotel projects alone. Lately unionisation has become one of the major challenges for the management, Sakya says. His companies do not have unions apart from Club Himalaya because he deals directly with the staff in other hotels. Though some responsibilities are taken by the promoters too, the management team looks after all major responsibilities. Sakya communicates personally with his managers daily and spends around two hours every day to review the progress of the hotel. He says that the Internet and technology has greatly assisted the management process.</div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Direct &amp; Holistic CSR</strong></span></div>
									<div>
										Sakya Group believes more in direct involving in activities that contribute to the overall development of the community and the area, rather than providing financial support to causes. &ldquo;There must be something that we do on our own,&rdquo; he said while giving an example of group&rsquo;s contribution to Nagarkot.</div>
									<div>
										&nbsp;</div>
									<div>
										He recalls that there was no proper road when Club Himalaya was established in Nagarkot and the group strongly advocated for proper road construction. Sakya takes the road development in Nagarkot as an important part of tourism development there and an important corporate social responsibility undertaken by his group.</div>
									<div>
										&nbsp;</div>
									<div>
										Similarly, the group also provided drinking water facility to the locals and installed telephone tower at its resort premises. Likewise, a police station was established through the resort&rsquo;s initiation. Sakya claims that electricity supply was extended in the area due to his company&rsquo;s initiation. Staircase construction is ongoing at Mahadev Pokhari in Nagarkot. According to Sakya, various trainings are provided and a health post too is established in his company&rsquo;s partnership with local bodies. According to him, these development works are part of the group&rsquo;s belief in directly involving in development initiatives rather than just providing financial support.</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>',
			'published' => true,
			'created' => '2013-12-16',
			'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' => 'Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.',
			'sortorder' => '2119',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '2291',
			'article_category_id' => '109',
			'title' => 'NRB Asks Banks To Get Ready For Basel III',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004. When Basel III comes in full implementation, most of the Nepali banks will be required to increase their paid up capital by up to Rs 5 billion depending on their exposure on risky assets. As per the Basel II framework, the paid up capital requirement for the commercial banks in Nepal is currently capped at Rs 2 billion. After the implementation new provision, banks are required to increase their minimum capital, equity capital ratio and buffer capital.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bankers Say the Framework Won&#39;t Hurt Their Profits&nbsp;</div>
<div>
	While the central bank is in last minute preparations to implement the Basel III, commercial bankers are looking more confident on the new regulatory framework. They are expecting Nepali banking sector to be more effective, strong and competitive. Currently, NBR is gathering suggestions from the banking sector regarding the new regulatory standard. &quot;NRB&#39;s decision and preparation to enforce Basel III is very timely and appropriate,&quot; said Bhuwan Dahal, CEO of the Sanima Bank. &quot;It won&#39;t hurt the profit of banks, the framework will further strengthen Nepal&#39;s entire financial system.&quot; &nbsp;According to him, many of the Nepali banking system&#39;s current provisions will remain intact even after the implementation of new framework, due to which the chances of decline in banks profit is minimum. Another CEO of a commercial bank also agreed with Dahal&#39;s view. &quot;Short-term profits of banks may come down after the enforcement of Basel III but it is likely to rise on the long-term,&quot; he said under the condition of anonymity adding,&quot; Distribution of dividend and profit may be affected for some time, however, these impacts will gradually lessen after the full implement of the regulatory framework.&quot; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, some bankers are also voicing their concerns. Upendra Paudel, Vice-President of Nepal Bankers Association (NBA) said that if the new standard is enforced in the current scenario it may reduce the commercial capabilities of Nepali banks. &quot;It is good to introduce the global framework in our country, however, some practical problems may persist,&quot; he said. Paudel informed that NBA will submit its suggestions to NRB to solve such problems.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What is Basel III Framework?</div>
<div>
	Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on capital adequacy, stress testing and market liquidity risk of banks. It is a set of standards and practices created to ensure that banks across the world maintain adequate capital to sustain themselves during periods of economic strain.</div>
<div>
	&nbsp;</div>
<div>
	It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11, and was scheduled to be introduced from 2013 until 2015; however, changes from April 1, 2013 extended implementation until March 31, 2018. Basel III was developed in response to the deficiencies in financial regulation revealed by the global financial crisis of 2008-09 followed by the sovereign debt crisis of Eurozone. The name for the accord is derived from Basel, Switzerland, where the committee, that maintains the accord, meets.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004.',
			'sortorder' => '2133',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2290',
			'article_category_id' => '110',
			'title' => 'Top Ten Losers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Losers',
			'sortorder' => '2132',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2289',
			'article_category_id' => '111',
			'title' => 'Top Ten Gainers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Gainers',
			'sortorder' => '2131',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2288',
			'article_category_id' => '112',
			'title' => 'Weekly Gold And Silver Price (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Weekly Gold And Silver Price',
			'sortorder' => '2130',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2287',
			'article_category_id' => '113',
			'title' => 'US Dollar Exchange Rate At Local Market (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'US Dollar Exchange Rate at Local Market (9 - 15 December 2013)',
			'sortorder' => '2129',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '2286',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>PABSON&rsquo;s SLC Qualification Evaluation Exam from Jan 19&nbsp;</strong></span></div>
<div>
	The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>KU Celebrates 19th Convocation Ceremony</strong></span></div>
<div>
	Kathmandu University (KU) conducted its 19th convocation ceremony on Friday, 13th December. 2050 graduates, of which 884 (43.08%) were females, received their degrees in the ceremony. Similarly, 282 (13.74%) foreign students belonging to Australia,Austria, Bhutanese Refugee, Bangladesh, Canada, Germany, India, Latvian, Sweden, Switzerland, Sri Lanka, Russia, USA, Ukraine, Zambia and other nations, also received degrees in undergraduate, graduate, and postgraduate programs along with M. Phil and PhD. This year twelve candidates were awarded PhD Degree.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four TU, KU Academicians Disqualified</strong></span></div>
<div>
	The University Grants Commission (UGC) has blacklisted four professors affiliated to Tribhuvan University (TU) and Kathmandu University (KU) on charges of plagiarism. These professors were found lifting the contents from their previous works in research papers presented to the UGC seeking grants. So balcklisted academicians include Professor at the School of Education at the KU, Dhanpati Subedi as well as professions of TU Central Department of Chemistry. Megh Raj Pokhrel, Dev Bahadur Khadka and Kedar Nath Ghimire. The UGC&rsquo;s evaluation committee led by Prof Krishna Bahadur Manandhar, also former secretary at NAST, had evaluated their papers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dean of IoM Resigns</strong></span></div>
<div>
	Dr Prakash Sayami, Dean of the Institute of Medicine (IoM), has once again resigned from his post citing mounting pressure from authorities to provide affiliation to new medical colleges. This is the second time that Dr Sayami has resigned. Before this he had resigned from the post on November 6, 2012, citing non-cooperation from Tribhuvan University (TU) officials. However at that time officials at the University did not approve his resignation. The affiliation row between TU and IoM soared after the university, published a notice calling for applications for its affiliation from colleges that have received consent letter, known as the Letter of Intent (LoI), from the Ministry of Education.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CIAA Investigating Medical Colleges</strong></span></div>
<div>
	The Commission for the Investigation of Abuse of Authority (CIAA) has started investigating allegations levelled against Nobel Medical College in Biratnagar. The CIAA has received complaints against the college about its affiliation and quota distribution. Similarly, CIAA has also monitored and investigated the Universal College of Medical Sciences in Bhairahawa on Wednesday 11th November and Thursday, 12th November.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Human Rights Day Observed</strong></span></div>
<div>
	International Human Rights Day was observed throughout the country organizing different programmes. This year International Human Rights Day was celebrated with the worldwide slogan, &acute;Speak Up, Stop Discrimination&acute; and the national slogan &acute;Collective Solidarity for Democracy and Peace, National Commitment to Timely Constitution in favour of Human Rights.&acute;Human Rights Day is held on 10 December every year. The United Nations General Assembly adopted the Universal Declaration of Human Rights in 1950, proclaiming its principles as the &ldquo;common standard of achievement for all peoples and all nations.&rdquo;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.',
			'sortorder' => '2128',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2284',
			'article_category_id' => '151',
			'title' => 'Study Management  In Best Business Schools',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WhiteHouse Graduate School of Management</strong></span></div>
<div>
	<img alt="WhiteHouse GSM" src="/userfiles/images/wgsm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 199px;" />WhiteHouse Graduate School of Management (WhiteHouse GSM) was established in 2001 with the motto, &ldquo;Think Now. Think Smart. Think Ahead.&rdquo;The college has been envisioned as a center to provide excellent management education and research opportunities. Its specially tailored courses inculcate professional skills and capabilities in the students and engrain in them entrepreneurial and business leadership qualities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Courses provided by the college are student-centered and include ample of research opportunities that help in expanding the frontiers of student&rsquo;s knowledge about business. Its courses are responsive to demands of national and international economy and it imbibes in it strategies for providing students better understanding of globalization, sustainability, ethical entrepreneurship and innovative approaches in business management.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Under the corporate umbrella of WhiteHouse Education Network, WhiteHouse GSM offers four-year Bachelor in Business Administration (BBA) and Bachelor in Liberal Arts &amp; Sciences (BLAS) programmes at the undergraduate level.In addition, it also offers two-year Master in Business Administration (MBA) and Executive MBA programs at the postgraduate level.</div>
<div>
	&nbsp;</div>
<div>
	The college imparts education through the use of advanced and student-friendly teaching-learning methodologies like group interactive lectures, discussions, seminars, case studies, project work, industrial visits, presentations along with internship opportunities in reputed corporations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Located at the heart of the city, Mid-Baneshwor, WhiteHouse GSM is an applied management school for individuals who aspire to build enterprises on their own. At the same time, its professional programmes aim to produce managers who can handle government and private organizations efficiently.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<div>
											<img alt="Sambhu K Dahal" src="/userfiles/images/sd(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 248px;" /><span style="font-size:14px;"><strong>Sambhu K. Dahal</strong></span></div>
										<div>
											<span style="font-size:14px;">Programme Director, WhiteHouse GSM</span></div>
										<div>
											&nbsp;</div>
										<div>
											Guru mantra of management is knowledge, skill and attitude. Knowledge can be obtained in any schools or institutions. Main thing that our college does is to enable students with capacity to transform knowledge into skill.&nbsp;</div>
										<div>
											&nbsp;</div>
										<div>
											The basic objective of our college is providing knowledge and converting that knowledge into skill and to improve the attitude of the student. We have some of the best faculty members and have the best physical infrastructure for providing standard education. Job placements are an important aspect of professional education courses. So far, our graduates have secured best positions in leading business organizations. Our College not only gives education but also helps them to be good entrepreneurs.</div>
									</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	<div>
		<span style="font-size:16px;"><strong>Thames International College</strong></span></div>
	<div>
		<img alt="Thames International College" src="/userfiles/images/tic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 238px;" />Thames International College started its journey of serving Nepali youth in collegiate studies a decade ago.</div>
	<div>
		&nbsp;</div>
	<div>
		The college extends realistic assistance to young and aspiring adults in choosing academic course that meets their career ambition. It provides atmosphere where learning is not a forced compulsion but a creatively involving activity.</div>
	<div>
		&nbsp;</div>
	<div>
		The college concentrates on developing overall personality of its students instead of solely focusing on excelling in examinations. It believes that knowledge lies also beyond text books.</div>
	<div>
		&nbsp;</div>
	<div>
		Thames assists its students to identify their own strengths and weaknesses and provides opportunity to sharpen their own talents to overcome weaknesses. And all these services are provided through utmost professionalism. Thames concentrates on making the students realize the high competition in the outside world and how a strong academic back-up can assist them to excel in the competition.</div>
	<div>
		&nbsp;</div>
	<div>
		The college offers Bachelor&rsquo;s in Business Studies (BBA), Bachelor&rsquo;s in Information Management (BIM) and Bachelors&rsquo; in Rural Development and Social Work.</div>
	<div>
		&nbsp;</div>
	<div>
		Located in the heart of the Kathmandu city, Old Baneshwor, the campus embodies a lifestyle appropriate for students where options for accommodation, transportation, shopping and entertainment are available as required by the students.</div>
	<div>
		&nbsp;</div>
</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<img alt="Rajendra Man Shrestha" src="/userfiles/images/rms.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 247px;" /></div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Rajendra Man Sherchan&nbsp;</span></strong></div>
						<div>
							<span style="font-size:14px;">Chairman</span></div>
						<div>
							<span style="font-size:14px;">Thames International College</span></div>
						<div>
							&nbsp;</div>
						<div>
							Thames International College is dedicated to students&rsquo; education. It works for the welfare of the students. It not only focuses on imparting theoretical education but also equally focuses on providing practical education. We emphasize on workshops, seminars, field visits and personal interaction with the real world to provide ample exposure to students. Beside providing guidance on book-based knowledge, our teaching approaches assist the students in being highly competitive graduates that can sell their skills in the market. Placement of our graduates is good.</div>
					</div>
				</div>
				<div>
					&nbsp;</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	<em>(Both Colleges have been awarded the 6th Best Business Schools in Nepal by National Business Schools Rating-Ranking Awards, 2013 presented by New Business Age.)</em></p>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.',
			'sortorder' => '2127',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2282',
			'article_category_id' => '86',
			'title' => 'Businessman’s Revenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: &lsquo;I noticed that you are carrying a TV remote control. What may be the reason?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	The businessman said: &lsquo;My wife always refuses to come to the cocktail parties. So I figured out this as the most evil thing I could do to her legally.&rsquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>&nbsp; &nbsp; -ML</strong></div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: ‘I noticed that you are carrying a TV remote control. What may be the reason?’',
			'sortorder' => '2125',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2281',
			'article_category_id' => '144',
			'title' => 'Tackling Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Last week brought some good news for the Nepali economy. The growth rate of the country&rsquo;s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent. Trade experts are citing increase in the export of woolen carpets, readymade garments, pashmina and handicrafts &ndash; some of the country&rsquo;s major exportable items &ndash; and a drastic decrease in the import of gold as the major reasons behind the significant drop in the trade deficit.</div>
<div>
	&nbsp;</div>
<div>
	The decrease in trade deficit is significant because it has taken place in spite of a sharp increase of 14.4 per cent in the import of petroleum products. Nepal&rsquo;s total export in the first four months of this fiscal year stands at around Rs 29.62 billion whereas the import of petroleum products alone has been worth more than Rs 37.85 billion over this period. However, we can take a sigh of relief as the import of gold has declined by 29.6 per cent and stood at Rs 6.29 billion in the first four months of the current fiscal year as compared to the same period last year. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is no doubt that the best way to tackle the trade deficit problem is increasing our exports. The government acknowledged this fact and set a target of increasing our total annual exports to the tune of Rs 100 billion in the last fiscal year itself. The target could not be reached in the last fiscal year. But there are some early signs that this target could be reached this fiscal year. The export of cardamom, honey, noodles, handmade paper and Pashmina &ndash; some of the major exportable items identified by Nepal Trade Integration Strategy 2010 &ndash; has gone up in the first four months of this fiscal year.</div>
<div>
	&nbsp;</div>
<div>
	Available trade statistics show that our exports go up when there are no industrial strikes. That is one of the major reasons for the recent increase in exports. Therefore, to make the decrease in trade deficit sustainable, the political parties and the trade unions affiliated to them must commit to make the industrial sector a strike-free zone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides encouraging exports, we should also focus on discouraging the imports of items such as gold and petroleum and substituting the import of commodities such as iron and steel. The policy of discouraging the import of gold should be given continuity. Though the demand for gold cannot be controlled by banning imports, there can be ways to meet the demand for gold for investment purpose as shown by India which has allowed the banks to accept &lsquo;gold deposits&rsquo; whereby the bank buys gold on the name of the customer in the international market with the money the bank has parked abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To lower the import of petroleum, the government should allow the mixing of permissible amount of ethanol in petrol. Many countries are already doing this. Ethanol is produced as a byproduct by the sugar factories.</div>
<div>
	&nbsp;</div>
<div>
	On the other hand, the sugar factories produce electricity by converting thermal energy into electrical energy. This electricity which is produced by the burning of bagasse is more than the factories require. The government should buy the surplus electricity thus produced by the sugar factories. This way, we can add 20 to 25 MW of electricity to the national grid. This step would not only help us tackle the load-shedding problem to some extent but also help us partly substitute the import of diesel which is burnt to produce electricity for industries.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, to substitute the import of iron and steel to some extent, we should start extracting iron from the identified mines and also explore new iron mines. But the irony is that the mines from where the metal used to be extracted traditionally are closed down. This process must be reversed.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Last week brought some good news for the Nepali economy. The growth rate of the country’s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent.',
			'sortorder' => '2124',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2280',
			'article_category_id' => '145',
			'title' => 'Celebrating International Mountain Day 2013 Forging Partnerships For Practical Solutions',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Dr David Molden</strong></div>
<div>
	&nbsp;</div>
<div>
	As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership. The occasion was preceded by a four-day international conference on &lsquo;Addressing Poverty and Vulnerability in the Hindu Kush Himalayas&rsquo; attended by over 200 participants from 19 countries. The Conference, jointly organized with the Planning Commission of Nepal, primarily aimed at forging broader partnerships to enable transformative change, and to define the contours of a sustainable mountain development agenda. On this Mountain Day, let us seek new partnerships for sustainable mountain development, for mountain people, and the billions dependent on mountain services.</div>
<div>
	&nbsp;</div>
<div>
	In the spirit of partnership, I am happy to mention that coinciding with our 30th Anniversary, and in collaboration with GlacierWorks, together with the American Embassy, Thinc Design, photo.circle, Nepal Tourism Board, Nepal Art Council, and other partners, we have put up an exhibition titled &lsquo;Climate+Change&rsquo; in the heart of Kathmandu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I am also happy to mention that ICIMOD joins our regional member countries of Nepal, Pakistan, and Bangladesh in observing this very important Day. This year, the theme for the Day is &lsquo;Mountains - Key to a Sustainable Future&rsquo;. The focus is on celebrating how mountains are crucial in moving the world towards sustainable economic growth in the context of poverty eradication, and on drawing attention to their generally sustainable and low-emission production models.</div>
<div>
	&nbsp;</div>
<div>
	Mountains cover about 24 per cent of the global land surface and are home to 12 per cent of the world&rsquo;s population. They are a direct source of livelihood to 10 per cent of the world&rsquo;s people, and another 40 per cent derive indirect benefits from the wide varieties of goods and services afforded by the mountain socio-ecosystems. Mountains provide most of world&rsquo;s freshwater and are repositories of cultural and biological diversity. Today, it is acknowledged worldwide that mountain socio-ecosystems are crucial for sustainable development.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ep(1).jpg" style="float: right; margin: 0px 0px 0px 10px;
width: 300px; height: 369px;" /> In the Hindu Kush Himalayas (HKH) region, sometimes referred to as the Third Pole or the Water Towers of Asia, mountains are a direct source of livelihood for 210 million people. Further, mountain goods and services support another 1.3 billion people downstream. Glaciers of the HKH feed 10 major rivers that support extensive irrigation systems in the region. Yet, despite this vast natural wealth, mountain people are the ones who have often lived and continue to live in the margins of societies. In a succinct metaphor, they are like the poor and hungry servants who live in a palace made of gold and diamonds.</div>
<div>
	&nbsp;</div>
<div>
	Let me recall what the chief scientific adviser to the UK government, Sir John Beddington, cautioned in March 2009: that food, energy, and water shortages will unleash unrest and international conflicts. This food-energy-water security is intrinsically linked to mountains and mountain communities, and mountains therefore will play a very important political role in the future.</div>
<div>
	&nbsp;</div>
<div>
	However, mountains and their fragile socio-ecosystems today face a host of challenges: out-migration, mostly male; impacts of climate change including retreating glaciers, changing monsoon patterns, disaster frequency, and extreme events; depleting resources and ecosystem services; government neglect and insufficient private investment; and slow development progress compared to lowland areas.</div>
<div>
	&nbsp;</div>
<div>
	Let us recognize that change also brings significant opportunities. For these opportunities to bring about meaningful benefits to mountains communities, a sea change in the attitude of both policymakers and policy implementers is urgently required. Among others, mountains should not be seen as inaccessible or conflict zones, instead communities must rally around the common mountain agenda through collaborations and partnerships. Social development must focus on sustaining functional ecosystems, and broader partnerships must be forged to share mountain knowledge and data. The bond between democracy and sustainable development must be deepened by empowering local people, particularly women.</div>
<div>
	&nbsp;</div>
<div>
	At ICIMOD, in the last few years, we have been issuing forth a rallying call for a broader partnership for all actors to collaborate in finding practical solutions to the challenges facing the mountain communities. We have to seek ways to improve community resilience and explore sustainable livelihood options. We must work across disciplinary boundaries and focus on inclusive growth so that no one is left behind. We must devise innovative financing mechanisms and bring private sector on board the Mountain Agenda. And we must foster and enhance trans-boundary cooperation to share data and knowledge. In this connection, ICIMOD will continue to find ways to address the cross-border issues in the Post-2015 Development Agenda, and partner for talks on processes and the agenda being developed for UNFCCC to help share the voice of vulnerable mountain communities at the global level.</div>
<div>
	&nbsp;</div>
<div>
	As a mountain resource center, ICIMOD will continue to generate information, package it, and disseminate it to all the stakeholders. We will facilitate partnership building among various actors and stakeholders to enhance the capability of the mountain people to transform their own future. We will continue to raise awareness about the importance of mountains and highlight opportunities and constraints in mountain development. We will continue to promote development approach that incorporates mountain people&rsquo;s traditional knowledge in the context of a green economy. Above all, we will continue to seek new windows of opportunities in the area of sustainable mountain development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Dr Molden is the Director General of ICIMOD. The article is adapted from a speech he delivered on this year&rsquo;s International Mountain Day.)</em></div>',
			'published' => true,
			'created' => '2013-12-17',
			'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' => 'As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership.',
			'sortorder' => '2123',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2279',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EC Extends PR List Submission Deadline</strong></span></div>
<div>
	The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties. Earlier on December 9, a delegation of Nepali Congress vice-president Ram Chandra Poudel met with Chief Election Commissioner Nil Kantha Uprety and urged him to extend the deadline. Poudel said the political parties are in a process of dialogue and are trying to forge consensus and it would be appropriate to extend the deadline. CEC Uprety had responded positively to the request of NC. Political parties will share 335 PR seats in the 601-member Constituent Assembly based on the number of votes they have received in the November 19 CA elections.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Complaint against Kamal Thapa</strong></span></div>
<div>
	Seventeen central committee members of RPP-Nepal have filed a complaint at the Election Commission (EC) against the party&rsquo;s chairperson Kamal Thapa, saying that Thapa arbitrarily submitted the list of Proportional Representation (PR) nominees to the EC. &ldquo;The Constituent Assembly (CA) election ordinance clearly mentions that the PR list has to be finalized by a majority of the party&rsquo;s central committee,&rdquo; said Prahlad Sah, central assistant general secretary of RPP-N, &ldquo;However, the chairperson (Thapa) has submitted the list highhandedly and without discussing and getting it endorsed through the central committee,&rdquo; Sah said. He claimed that some of the PR nominees were not even ordinary members of the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singh Sets up Contact Office</strong></span></div>
<div>
	Nepali Congress General Secretary and newly elected Constituent Assembly member from Kathmandu Constituency-1, Prakashman Singh has set up a contact office for his constituency on Saturday. Singh inaugurated the office in Bijuli Bazar amid a program today. He said he would be available in the contact office every day for a certain time and will interact with people in order receive their complaints, suggestions and discuss development activities with them.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Urges Ex-cadres to Return to UML</strong></span></div>
<div>
	CPN-UML senior leader Madhav Kumar Nepal has called on the leaders and cadres, who have deserted UML to join other parties to return to the mother party. Nepal made the call while addressing the inaugural session of the 23rd Conference of All Nepal National Free Students&rsquo; Union, Koteshwor Multiple Campus Committee on December 13. On the occasion, he also claimed that the UML was the only patriotic and revolutionary party in the country. The UML leader said that his party would work towards taking the country on the path of prosperity by establishing ever-lasting peace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Not declaring emergency a mistake&rsquo;</strong></span></div>
<div>
	Former Prime Minister and senior UCPN (Moist) leader Dr Baburam Bhattarai has said that he made a mistake by not extending the term of the last Constituent Assembly (CA) through the declaration of a state of emergency. &nbsp; &ldquo;&hellip;on the night of the dissolution of the CA on May 28, 2012, I had thought about extending the deadline by imposing a state of emergency, although it meant taking the blame myself, and I did announce it but I had to step back under immense pressure, not only from opposition political leaders, but also from my own colleagues. This was the biggest mistake of my life and I very humbly accept it,&rdquo; Dr Bhattarai said in a statement.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties.',
			'sortorder' => '2122',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
			'sortorder' => '2121',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '2271',
			'article_category_id' => '122',
			'title' => 'Sakya Group: Refined Hospitality',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Yogendra Sakya, Chairman, Sakya Group" src="/userfiles/images/SP1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<strong>Yogendra Sakya</strong></div>
						<div>
							Chairman, Sakya Group</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.</div>
<div>
	&nbsp;</div>
<div>
	The journey of their business took a new turn with the establishment of Kathmandu Guest House (KGH) at Thamel in 1970s. Basanta Bahadur Sakya and his brother Karna Sakya turned their residential property, a Victorian palace built by Ranas into a 13 room hotel. Thamel then was a field where jackals roamed freely even during the day, say its promoters. KGH was followed by new hotels namely, Hotel Ambassador (1978), Marcopolo Business hotel (1998) and Club Himalaya Nagarkot (1998). Later, this joint-family split around the year 2000 and the KHG, a well-known brand, went to Karna Sakya while his nephews got some other businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The New Brand Journey</strong></span></div>
<div>
	Yogendra Sakya, Chairman of Sakya Group, says it was painful to suddenly lose the KGH association and start fresh. He adds that it was painful also because he was personally looking after the KGH. Meanwhile, he invested in Ace Institute of Management and Ace Development Bank as one of the major promoters. He branded his hotels as Ace Hotels and Resorts. Currently, Hotel Ambassador Lazimpat and Chhauni, Marcopolo Business Hotel, Club Himalaya Nagarkot, Trek-O-Tel Hotel, The Tea House Inn and Shanti Ban Resort are in operation under this umbrella brand of Ace Hotels. Though he lost the KGH brand name, his expertise gained since 1970s as professional hoteliers remained intact with him. This proved to be strong base needed for advancing in the hospitality business.</div>
<div>
	&nbsp;</div>
<div>
	One of the transformation during the rebranding process was promoting Ace Hotels and Resorts as a mid range hotels, a move from the image of budget hotel. Club Himalaya Resort is the signature hotel that assisted in this transformation. Sakya explains, &ldquo;We are not five star hotels and we have targeted our brand at adventure tourists. We know that they don&rsquo;t come for luxury. This is the market of Nepal and our speciality too.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Sakya family invests and also manages the groups&rsquo; hotel wing while Sakya Investment Company makes investment in various sectors. According to Sakya, the company has invested in banking and financial sectors and they are one of the promoters in Nepal Investment Bank and Ace Development Bank. Likewise the company has investments in real estate as well as a printing press. Similarly, Idea Group has investment in the education industry through Malpi Group of Schools. Sakya says that the group&rsquo;s total investment crosses Rs 1 billion and makes an annual turnover of around Rs 1.25 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Business Expansion</strong></span></div>
<div>
	The group is rebuilding Hotel Ambassador Lazimpat from the ground. The group demolished its building when the road expansion drive of Kathmandu needed to break a portion of hotel. Sakya says that the hotel will be built as a four star property in next two years. He reveals that Rs 300 million is invested in the rebuilding and he is expecting that the budget will cross its limit. Sakya says that he took the challenge as an opportunity and only the time will tell that it is for the better.</div>
<div>
	&nbsp;</div>
<div>
	For the time being, guests of Hotel Ambassador, Lazimpat are accommodated at Hotel Ambassador, Chh auni. Sakya says that the buildings at Chhauni were designed as apartment for the Sakya family. But the need turned it into the hotel and he adds that it was mainly done to keep the Hotel Ambassador open for two years &ndash; until the construction completes at Lazimpat. However, Sakya says that he has plans to continue this property at Chhauni as an apartment hotel. Ambassador Chhauni has 25 rooms and 14 apartments.</div>
<div>
	&nbsp;</div>
<div>
	The group has a couple of other hotels in the pipeline. Sakya says that the group had planned to complete Sakya Heritage Hotel targeting upmarket clients at Nagpokhari. The plan has been postponed because of the demolition of Ambassador that required priority to reconstruct. Along with that the group is planning to complete the resort project in Chitwan &ndash; Club Wilderness, after present projects are completed. Sakya says that the Club Wilderness project was postponed considering the surge in the number of new hotels and lodges in Chitwan.Stating that the project is not dropped, he adds that the resort will be built with a new concept of serving tourists especially visiting both Chitwan and Lumbini.</div>
<div>
	&nbsp;</div>
<div>
	Sakya says that he wants to go step by step in the business rather than jumping at once into 10 hotel projects. &ldquo;We start a business small and let it grow. Once it stands firmly on solid ground, we move forward,&rdquo; says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/SP3%20(Copy).jpg" style="width: 550px; height: 629px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities Galore</strong></span></div>
<div>
	Sakya believes that China and India are Nepal&rsquo;s two economic giant neighbours, from where tourists can walk, fly or ride to Kathmandu. He predicts that these two countries will be the biggest tourism market for Nepal. &ldquo;Nepal&rsquo;s tourism was discovered. We never planted it,&rdquo; he says expressing discontent with the tourism promotion strategy. He suggests that Nepal should be going directly to the consumers when it comes to promotion rather than to the tour operators. &ldquo;There is a huge untapped market for us. &nbsp;If we can explore Chinese and Indian markets, we can bring two million tourists every year. The only challenge is in finding way to reach the consumers,&rdquo;&nbsp;</div>
<div>
	he adds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The trend of bringing international chain hotel brands has revived in Nepal with big names like Marriot and Sheraton landing in Nepal soon. &nbsp;However, Sakya rules out the possibility of his group&rsquo;s partnership with an international brand.&ldquo;You don&rsquo;t have to borrow international name to succeed. Rise of the Internet, and e-marketing, has enabled clients to analyse features of local brand right on their devices. Local names too can be sold through this channel. Individual products can be directly brought to the customers attention and sold well.&rdquo; At present, 20 per cent of total sales in the tourism industry are made through online booking, says Sakya. He explains that there are big opportunities for local products for creating independent brand name. &ldquo;We would like to make our own hotel chain at the domestic level, if not international,&rdquo; adds Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<span style="font-size:16px;"><strong>Some Companies under Group</strong></span></div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Lazimpat</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Chhauni</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Marcopolo Business Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Club Himalaya Nagarkot</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Trek-O-Tel Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Shati Ban Resort</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Tea House Inn</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>MarcoPolo Travels Nepal</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Ace Development Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Investment Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Malpi Group of Schools</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>IT Himalaya &ndash; A Dutch- Nepali Joint Venture</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Mata International</div>
									<div>
										&nbsp;</div>
									<div>
										<img alt="Ace Development Bank" src="/userfiles/images/SP4%20(Copy).jpg" style="width: 550px; height: 458px; margin-left: 10px; margin-right: 10px;" /></div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Hands-on Management&nbsp;</strong></span></div>
									<div>
										Being professional hoteliers, Sakyas love to invest as well as manage their hotel and resort projects. So, the Sakya couple and also the next generation businessmen are looking after their hospitality ventures. Yogendra Sakya looks after finance and planning while his son and daughter are looking after product development and marketing respectively. &ldquo;Weare professionally hoteliers. Elsewhere we are just investors,&rdquo; Sakya explains who is also a Hotel Management graduate.</div>
									<div>
										&nbsp;</div>
									<div>
										Currently,300 employees are working in the hotel projects alone. Lately unionisation has become one of the major challenges for the management, Sakya says. His companies do not have unions apart from Club Himalaya because he deals directly with the staff in other hotels. Though some responsibilities are taken by the promoters too, the management team looks after all major responsibilities. Sakya communicates personally with his managers daily and spends around two hours every day to review the progress of the hotel. He says that the Internet and technology has greatly assisted the management process.</div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Direct &amp; Holistic CSR</strong></span></div>
									<div>
										Sakya Group believes more in direct involving in activities that contribute to the overall development of the community and the area, rather than providing financial support to causes. &ldquo;There must be something that we do on our own,&rdquo; he said while giving an example of group&rsquo;s contribution to Nagarkot.</div>
									<div>
										&nbsp;</div>
									<div>
										He recalls that there was no proper road when Club Himalaya was established in Nagarkot and the group strongly advocated for proper road construction. Sakya takes the road development in Nagarkot as an important part of tourism development there and an important corporate social responsibility undertaken by his group.</div>
									<div>
										&nbsp;</div>
									<div>
										Similarly, the group also provided drinking water facility to the locals and installed telephone tower at its resort premises. Likewise, a police station was established through the resort&rsquo;s initiation. Sakya claims that electricity supply was extended in the area due to his company&rsquo;s initiation. Staircase construction is ongoing at Mahadev Pokhari in Nagarkot. According to Sakya, various trainings are provided and a health post too is established in his company&rsquo;s partnership with local bodies. According to him, these development works are part of the group&rsquo;s belief in directly involving in development initiatives rather than just providing financial support.</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>',
			'published' => true,
			'created' => '2013-12-16',
			'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' => 'Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.',
			'sortorder' => '2119',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117

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]
Code Context
  //  $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';



    if(!$xml = simplexml_load_file($file)){
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
	'articles' => array(
		(int) 0 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 1 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 2 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 3 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 4 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 5 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 6 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 7 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 8 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 9 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 10 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 11 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 12 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 13 => array(
			'Article' => array(
				[maximum depth reached]
			)
		),
		(int) 14 => array(
			'Article' => array(
				[maximum depth reached]
			)
		)
	),
	'current_user' => null,
	'logged_in' => false
)
$articles = array(
	(int) 0 => array(
		'Article' => array(
			'id' => '2291',
			'article_category_id' => '109',
			'title' => 'NRB Asks Banks To Get Ready For Basel III',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004. When Basel III comes in full implementation, most of the Nepali banks will be required to increase their paid up capital by up to Rs 5 billion depending on their exposure on risky assets. As per the Basel II framework, the paid up capital requirement for the commercial banks in Nepal is currently capped at Rs 2 billion. After the implementation new provision, banks are required to increase their minimum capital, equity capital ratio and buffer capital.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bankers Say the Framework Won&#39;t Hurt Their Profits&nbsp;</div>
<div>
	While the central bank is in last minute preparations to implement the Basel III, commercial bankers are looking more confident on the new regulatory framework. They are expecting Nepali banking sector to be more effective, strong and competitive. Currently, NBR is gathering suggestions from the banking sector regarding the new regulatory standard. &quot;NRB&#39;s decision and preparation to enforce Basel III is very timely and appropriate,&quot; said Bhuwan Dahal, CEO of the Sanima Bank. &quot;It won&#39;t hurt the profit of banks, the framework will further strengthen Nepal&#39;s entire financial system.&quot; &nbsp;According to him, many of the Nepali banking system&#39;s current provisions will remain intact even after the implementation of new framework, due to which the chances of decline in banks profit is minimum. Another CEO of a commercial bank also agreed with Dahal&#39;s view. &quot;Short-term profits of banks may come down after the enforcement of Basel III but it is likely to rise on the long-term,&quot; he said under the condition of anonymity adding,&quot; Distribution of dividend and profit may be affected for some time, however, these impacts will gradually lessen after the full implement of the regulatory framework.&quot; &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, some bankers are also voicing their concerns. Upendra Paudel, Vice-President of Nepal Bankers Association (NBA) said that if the new standard is enforced in the current scenario it may reduce the commercial capabilities of Nepali banks. &quot;It is good to introduce the global framework in our country, however, some practical problems may persist,&quot; he said. Paudel informed that NBA will submit its suggestions to NRB to solve such problems.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	What is Basel III Framework?</div>
<div>
	Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on capital adequacy, stress testing and market liquidity risk of banks. It is a set of standards and practices created to ensure that banks across the world maintain adequate capital to sustain themselves during periods of economic strain.</div>
<div>
	&nbsp;</div>
<div>
	It was agreed upon by the members of the Basel Committee on Banking Supervision in 2010-11, and was scheduled to be introduced from 2013 until 2015; however, changes from April 1, 2013 extended implementation until March 31, 2018. Basel III was developed in response to the deficiencies in financial regulation revealed by the global financial crisis of 2008-09 followed by the sovereign debt crisis of Eurozone. The name for the accord is derived from Basel, Switzerland, where the committee, that maintains the accord, meets.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Rastra Bank (NRB) has asked commercial banks to get ready for Basel III framework. The central bank last week directed commercial banks via a circular that it will enforce the regulatory standard from next month. NRB has decided to introduce the framework a year after the expiration of Basel II which was administered for Nepali commercial banks in 2004.',
			'sortorder' => '2133',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '2290',
			'article_category_id' => '110',
			'title' => 'Top Ten Losers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Losers',
			'sortorder' => '2132',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 2 => array(
		'Article' => array(
			'id' => '2289',
			'article_category_id' => '111',
			'title' => 'Top Ten Gainers (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Top Ten Gainers',
			'sortorder' => '2131',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 3 => array(
		'Article' => array(
			'id' => '2288',
			'article_category_id' => '112',
			'title' => 'Weekly Gold And Silver Price (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Weekly Gold And Silver Price',
			'sortorder' => '2130',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '2287',
			'article_category_id' => '113',
			'title' => 'US Dollar Exchange Rate At Local Market (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'US Dollar Exchange Rate at Local Market (9 - 15 December 2013)',
			'sortorder' => '2129',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 5 => array(
		'Article' => array(
			'id' => '2286',
			'article_category_id' => '154',
			'title' => 'Learning Curve News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>PABSON&rsquo;s SLC Qualification Evaluation Exam from Jan 19&nbsp;</strong></span></div>
<div>
	The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>KU Celebrates 19th Convocation Ceremony</strong></span></div>
<div>
	Kathmandu University (KU) conducted its 19th convocation ceremony on Friday, 13th December. 2050 graduates, of which 884 (43.08%) were females, received their degrees in the ceremony. Similarly, 282 (13.74%) foreign students belonging to Australia,Austria, Bhutanese Refugee, Bangladesh, Canada, Germany, India, Latvian, Sweden, Switzerland, Sri Lanka, Russia, USA, Ukraine, Zambia and other nations, also received degrees in undergraduate, graduate, and postgraduate programs along with M. Phil and PhD. This year twelve candidates were awarded PhD Degree.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Four TU, KU Academicians Disqualified</strong></span></div>
<div>
	The University Grants Commission (UGC) has blacklisted four professors affiliated to Tribhuvan University (TU) and Kathmandu University (KU) on charges of plagiarism. These professors were found lifting the contents from their previous works in research papers presented to the UGC seeking grants. So balcklisted academicians include Professor at the School of Education at the KU, Dhanpati Subedi as well as professions of TU Central Department of Chemistry. Megh Raj Pokhrel, Dev Bahadur Khadka and Kedar Nath Ghimire. The UGC&rsquo;s evaluation committee led by Prof Krishna Bahadur Manandhar, also former secretary at NAST, had evaluated their papers.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Dean of IoM Resigns</strong></span></div>
<div>
	Dr Prakash Sayami, Dean of the Institute of Medicine (IoM), has once again resigned from his post citing mounting pressure from authorities to provide affiliation to new medical colleges. This is the second time that Dr Sayami has resigned. Before this he had resigned from the post on November 6, 2012, citing non-cooperation from Tribhuvan University (TU) officials. However at that time officials at the University did not approve his resignation. The affiliation row between TU and IoM soared after the university, published a notice calling for applications for its affiliation from colleges that have received consent letter, known as the Letter of Intent (LoI), from the Ministry of Education.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>CIAA Investigating Medical Colleges</strong></span></div>
<div>
	The Commission for the Investigation of Abuse of Authority (CIAA) has started investigating allegations levelled against Nobel Medical College in Biratnagar. The CIAA has received complaints against the college about its affiliation and quota distribution. Similarly, CIAA has also monitored and investigated the Universal College of Medical Sciences in Bhairahawa on Wednesday 11th November and Thursday, 12th November.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>International Human Rights Day Observed</strong></span></div>
<div>
	International Human Rights Day was observed throughout the country organizing different programmes. This year International Human Rights Day was celebrated with the worldwide slogan, &acute;Speak Up, Stop Discrimination&acute; and the national slogan &acute;Collective Solidarity for Democracy and Peace, National Commitment to Timely Constitution in favour of Human Rights.&acute;Human Rights Day is held on 10 December every year. The United Nations General Assembly adopted the Universal Declaration of Human Rights in 1950, proclaiming its principles as the &ldquo;common standard of achievement for all peoples and all nations.&rdquo;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Private and Boarding Schools Organization Nepal (PABSON) has published routine for SLC qualification evaluation examination 2070. As per the routine, the examinations will be held between January 19 to 29, 2014.',
			'sortorder' => '2128',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '2284',
			'article_category_id' => '151',
			'title' => 'Study Management  In Best Business Schools',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:16px;">Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:16px;"><strong>WhiteHouse Graduate School of Management</strong></span></div>
<div>
	<img alt="WhiteHouse GSM" src="/userfiles/images/wgsm.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 199px;" />WhiteHouse Graduate School of Management (WhiteHouse GSM) was established in 2001 with the motto, &ldquo;Think Now. Think Smart. Think Ahead.&rdquo;The college has been envisioned as a center to provide excellent management education and research opportunities. Its specially tailored courses inculcate professional skills and capabilities in the students and engrain in them entrepreneurial and business leadership qualities.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Courses provided by the college are student-centered and include ample of research opportunities that help in expanding the frontiers of student&rsquo;s knowledge about business. Its courses are responsive to demands of national and international economy and it imbibes in it strategies for providing students better understanding of globalization, sustainability, ethical entrepreneurship and innovative approaches in business management.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Under the corporate umbrella of WhiteHouse Education Network, WhiteHouse GSM offers four-year Bachelor in Business Administration (BBA) and Bachelor in Liberal Arts &amp; Sciences (BLAS) programmes at the undergraduate level.In addition, it also offers two-year Master in Business Administration (MBA) and Executive MBA programs at the postgraduate level.</div>
<div>
	&nbsp;</div>
<div>
	The college imparts education through the use of advanced and student-friendly teaching-learning methodologies like group interactive lectures, discussions, seminars, case studies, project work, industrial visits, presentations along with internship opportunities in reputed corporations.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Located at the heart of the city, Mid-Baneshwor, WhiteHouse GSM is an applied management school for individuals who aspire to build enterprises on their own. At the same time, its professional programmes aim to produce managers who can handle government and private organizations efficiently.</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<div>
											<img alt="Sambhu K Dahal" src="/userfiles/images/sd(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 248px;" /><span style="font-size:14px;"><strong>Sambhu K. Dahal</strong></span></div>
										<div>
											<span style="font-size:14px;">Programme Director, WhiteHouse GSM</span></div>
										<div>
											&nbsp;</div>
										<div>
											Guru mantra of management is knowledge, skill and attitude. Knowledge can be obtained in any schools or institutions. Main thing that our college does is to enable students with capacity to transform knowledge into skill.&nbsp;</div>
										<div>
											&nbsp;</div>
										<div>
											The basic objective of our college is providing knowledge and converting that knowledge into skill and to improve the attitude of the student. We have some of the best faculty members and have the best physical infrastructure for providing standard education. Job placements are an important aspect of professional education courses. So far, our graduates have secured best positions in leading business organizations. Our College not only gives education but also helps them to be good entrepreneurs.</div>
									</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	&nbsp;</div>
<div>
	<div>
		<span style="font-size:16px;"><strong>Thames International College</strong></span></div>
	<div>
		<img alt="Thames International College" src="/userfiles/images/tic.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 300px; height: 238px;" />Thames International College started its journey of serving Nepali youth in collegiate studies a decade ago.</div>
	<div>
		&nbsp;</div>
	<div>
		The college extends realistic assistance to young and aspiring adults in choosing academic course that meets their career ambition. It provides atmosphere where learning is not a forced compulsion but a creatively involving activity.</div>
	<div>
		&nbsp;</div>
	<div>
		The college concentrates on developing overall personality of its students instead of solely focusing on excelling in examinations. It believes that knowledge lies also beyond text books.</div>
	<div>
		&nbsp;</div>
	<div>
		Thames assists its students to identify their own strengths and weaknesses and provides opportunity to sharpen their own talents to overcome weaknesses. And all these services are provided through utmost professionalism. Thames concentrates on making the students realize the high competition in the outside world and how a strong academic back-up can assist them to excel in the competition.</div>
	<div>
		&nbsp;</div>
	<div>
		The college offers Bachelor&rsquo;s in Business Studies (BBA), Bachelor&rsquo;s in Information Management (BIM) and Bachelors&rsquo; in Rural Development and Social Work.</div>
	<div>
		&nbsp;</div>
	<div>
		Located in the heart of the Kathmandu city, Old Baneshwor, the campus embodies a lifestyle appropriate for students where options for accommodation, transportation, shopping and entertainment are available as required by the students.</div>
	<div>
		&nbsp;</div>
</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<img alt="Rajendra Man Shrestha" src="/userfiles/images/rms.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 247px;" /></div>
					<div>
						<div>
							<strong><span style="font-size:14px;">Rajendra Man Sherchan&nbsp;</span></strong></div>
						<div>
							<span style="font-size:14px;">Chairman</span></div>
						<div>
							<span style="font-size:14px;">Thames International College</span></div>
						<div>
							&nbsp;</div>
						<div>
							Thames International College is dedicated to students&rsquo; education. It works for the welfare of the students. It not only focuses on imparting theoretical education but also equally focuses on providing practical education. We emphasize on workshops, seminars, field visits and personal interaction with the real world to provide ample exposure to students. Beside providing guidance on book-based knowledge, our teaching approaches assist the students in being highly competitive graduates that can sell their skills in the market. Placement of our graduates is good.</div>
					</div>
				</div>
				<div>
					&nbsp;</div>
			</td>
		</tr>
	</tbody>
</table>
<p>
	<em>(Both Colleges have been awarded the 6th Best Business Schools in Nepal by National Business Schools Rating-Ranking Awards, 2013 presented by New Business Age.)</em></p>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Increasing demand for human resources with entrepreneurial and managerial skills has fostered management studies. There are large numbers of colleges throughout the country, which provide management courses. Here are two colleges in Kathmandu that are renowned for producing some of the best business and management graduates around.',
			'sortorder' => '2127',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '2278',
			'article_category_id' => '140',
			'title' => 'Weekly Round Up (9 - 15 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&bull;Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.The program will be implemented by the Ministry of Federal Affairs and Local Development for two years from July 16, 2013 to July 15, 2017, according to a press statement issued by the Ministry of Finance (MoF). The total cost of LGCDP II is US$ 1362 million out of which US$ 236 Million will be provided by Nepal&rsquo;s development partners including Switzerland.LGCDP II aims to improve local governance for effective service delivery, local development and citizen empowerment through investment in sectors such as Local Government Restructuring, Federal Governance, Fiscal Decentralization, Fiduciary Risk Reduction, Result Based Management, Capacity Development, Social Mobilization, Child Friendly Local Governance, Gender Equality and Social Inclusion, and Livelihood Improvement Schemes. The project covers all the 75 districts, 58 Municipalities and 3,915 Village Development Committees, according to the MoF.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government will be holding the second round of talks with the Saudi Fund for investment in the 20 MW Budhiganga Hydropower Project. A government team comprising representatives from the finance, energy and law ministries and the Department of Electricity Development (DoED) will head for Saudi Arabia in the third week of December to hold the talks, according to a source at DoED. &ldquo;The Saudi Fund has shown interest to invest in the Budhiganga Project. It has already agreed to provide a soft loan of around USD 20 million and has already forwarded a draft proposal for the same. We will be discussing the same proposal,&rdquo; the source explained. The first round of talks between the two sides was held in Kathmandu a few months back. The source further added that a team of the Saudi Fund will come to Kathmandu &ldquo;soon after&rdquo; the second round of talks to hold the third round of talks. &ldquo;We are supposed to sign the loan agreement during the third round of talks,&rdquo; said the source.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The Commission for the Investigation of Abuse of Authority (CIAA) has collected Rs 49.5 million in fines from those found guilty of corruption and abuse of authority, according the latest annual report of the commission. Chief Commissioner Lokman Singh Karki presented the Commission&rsquo;s 2012/13 report to President Dr Yadav at a function held at the Rastrapati Bhawan on December 9. The report says that the CIAA had received 11,298 complaints in the year, of which 6,672 were resolved. Over 440 cases were registered in the regional administration offices, of which 145 were resolved. The CIAA filed 96 cases, including 16 that carried over from the previous fiscal year, at the Special Court. The Commission won 76 of these cases. In this year&rsquo;s Corruption Perception Index published by Transparency International, Nepal has climbed to the 116th position from 139th in the previous year.</div>
<div>
	&nbsp;</div>
<div>
	&bull;The government on Dec 12 decided to provide a loan of Rs 1.65 billion to the Nepal Oil Corporation (NOC). The Employees&rsquo; Provident Fund (EPF) will provide Rs. 850 million and the Citizens&rsquo; Investment Trust will provide Rs. 800 million, according to Minister for Information and Communications and government spokesperson, Madhav Prasad Poudel. The Government of Nepal will stand guarantee for the loan, Poudel added. The Cabinet meeting also decided to give a green signal to the Ministry of Urban Development to move ahead with the ongoing negotiations with the Asian Development Bank for signing an agreement for a financial aid worth Rs. 2.42 billion for the Melamchi Drinking Water Supply Project.</div>
<div>
	&nbsp;</div>
<div>
	&bull;In the fourth month (Kartik) of the current fiscal year, the year-on-year change in consumer inflation has reached 10 percent, says the latest monthly regular report from Nepal Rastra Bank (NRB). This is 0.5 per cent less than the consumer inflation for the same period of the last fiscal year. The NRB has set the target of keeping the average inflation rate within 8 percent in the current fiscal year. The inflation rate which remained in single digit for three consecutive months of the current fiscal year reached double digit (10 per cent) in the fourth month. According to experts, this is because of excess money supply to the banks for various reasons.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Switzerland has agreed to provide a financial assistance of Rs 1.09 billion to Nepal for the implementation of the second phase of the Local Governance and Community Development Program (LGCDP II). Finance Secretary Shanta Raj Subedi and Swiss Ambassador to Nepal, Urs Herren, signed an agreement to this effect on behalf of their respective governments amid a function in the Capital on December 11.',
			'sortorder' => '2126',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2282',
			'article_category_id' => '86',
			'title' => 'Businessman’s Revenge',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: &lsquo;I noticed that you are carrying a TV remote control. What may be the reason?&rsquo;</div>
<div>
	&nbsp;</div>
<div>
	The businessman said: &lsquo;My wife always refuses to come to the cocktail parties. So I figured out this as the most evil thing I could do to her legally.&rsquo; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; <strong>&nbsp; &nbsp; -ML</strong></div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'A Nepali novae rich businessman was seen carrying a remote control in his coat at Hyatt. One of his acquaintances could not resist asking him: ‘I noticed that you are carrying a TV remote control. What may be the reason?’',
			'sortorder' => '2125',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2281',
			'article_category_id' => '144',
			'title' => 'Tackling Trade Deficit',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Last week brought some good news for the Nepali economy. The growth rate of the country&rsquo;s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent. Trade experts are citing increase in the export of woolen carpets, readymade garments, pashmina and handicrafts &ndash; some of the country&rsquo;s major exportable items &ndash; and a drastic decrease in the import of gold as the major reasons behind the significant drop in the trade deficit.</div>
<div>
	&nbsp;</div>
<div>
	The decrease in trade deficit is significant because it has taken place in spite of a sharp increase of 14.4 per cent in the import of petroleum products. Nepal&rsquo;s total export in the first four months of this fiscal year stands at around Rs 29.62 billion whereas the import of petroleum products alone has been worth more than Rs 37.85 billion over this period. However, we can take a sigh of relief as the import of gold has declined by 29.6 per cent and stood at Rs 6.29 billion in the first four months of the current fiscal year as compared to the same period last year. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is no doubt that the best way to tackle the trade deficit problem is increasing our exports. The government acknowledged this fact and set a target of increasing our total annual exports to the tune of Rs 100 billion in the last fiscal year itself. The target could not be reached in the last fiscal year. But there are some early signs that this target could be reached this fiscal year. The export of cardamom, honey, noodles, handmade paper and Pashmina &ndash; some of the major exportable items identified by Nepal Trade Integration Strategy 2010 &ndash; has gone up in the first four months of this fiscal year.</div>
<div>
	&nbsp;</div>
<div>
	Available trade statistics show that our exports go up when there are no industrial strikes. That is one of the major reasons for the recent increase in exports. Therefore, to make the decrease in trade deficit sustainable, the political parties and the trade unions affiliated to them must commit to make the industrial sector a strike-free zone.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Besides encouraging exports, we should also focus on discouraging the imports of items such as gold and petroleum and substituting the import of commodities such as iron and steel. The policy of discouraging the import of gold should be given continuity. Though the demand for gold cannot be controlled by banning imports, there can be ways to meet the demand for gold for investment purpose as shown by India which has allowed the banks to accept &lsquo;gold deposits&rsquo; whereby the bank buys gold on the name of the customer in the international market with the money the bank has parked abroad.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	To lower the import of petroleum, the government should allow the mixing of permissible amount of ethanol in petrol. Many countries are already doing this. Ethanol is produced as a byproduct by the sugar factories.</div>
<div>
	&nbsp;</div>
<div>
	On the other hand, the sugar factories produce electricity by converting thermal energy into electrical energy. This electricity which is produced by the burning of bagasse is more than the factories require. The government should buy the surplus electricity thus produced by the sugar factories. This way, we can add 20 to 25 MW of electricity to the national grid. This step would not only help us tackle the load-shedding problem to some extent but also help us partly substitute the import of diesel which is burnt to produce electricity for industries.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, to substitute the import of iron and steel to some extent, we should start extracting iron from the identified mines and also explore new iron mines. But the irony is that the mines from where the metal used to be extracted traditionally are closed down. This process must be reversed.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Last week brought some good news for the Nepali economy. The growth rate of the country’s trade deficit, as witnessed in the first four months of the current fiscal year, has decreased significantly by 29.4 per cent as compared to the same period of the last fiscal year. In the first four months of the last fiscal year, trade deficit had shot up by 35.7 per cent; this year it has increased by only 6.3 per cent.',
			'sortorder' => '2124',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2280',
			'article_category_id' => '145',
			'title' => 'Celebrating International Mountain Day 2013 Forging Partnerships For Practical Solutions',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Dr David Molden</strong></div>
<div>
	&nbsp;</div>
<div>
	As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership. The occasion was preceded by a four-day international conference on &lsquo;Addressing Poverty and Vulnerability in the Hindu Kush Himalayas&rsquo; attended by over 200 participants from 19 countries. The Conference, jointly organized with the Planning Commission of Nepal, primarily aimed at forging broader partnerships to enable transformative change, and to define the contours of a sustainable mountain development agenda. On this Mountain Day, let us seek new partnerships for sustainable mountain development, for mountain people, and the billions dependent on mountain services.</div>
<div>
	&nbsp;</div>
<div>
	In the spirit of partnership, I am happy to mention that coinciding with our 30th Anniversary, and in collaboration with GlacierWorks, together with the American Embassy, Thinc Design, photo.circle, Nepal Tourism Board, Nepal Art Council, and other partners, we have put up an exhibition titled &lsquo;Climate+Change&rsquo; in the heart of Kathmandu.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	I am also happy to mention that ICIMOD joins our regional member countries of Nepal, Pakistan, and Bangladesh in observing this very important Day. This year, the theme for the Day is &lsquo;Mountains - Key to a Sustainable Future&rsquo;. The focus is on celebrating how mountains are crucial in moving the world towards sustainable economic growth in the context of poverty eradication, and on drawing attention to their generally sustainable and low-emission production models.</div>
<div>
	&nbsp;</div>
<div>
	Mountains cover about 24 per cent of the global land surface and are home to 12 per cent of the world&rsquo;s population. They are a direct source of livelihood to 10 per cent of the world&rsquo;s people, and another 40 per cent derive indirect benefits from the wide varieties of goods and services afforded by the mountain socio-ecosystems. Mountains provide most of world&rsquo;s freshwater and are repositories of cultural and biological diversity. Today, it is acknowledged worldwide that mountain socio-ecosystems are crucial for sustainable development.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/ep(1).jpg" style="float: right; margin: 0px 0px 0px 10px;
width: 300px; height: 369px;" /> In the Hindu Kush Himalayas (HKH) region, sometimes referred to as the Third Pole or the Water Towers of Asia, mountains are a direct source of livelihood for 210 million people. Further, mountain goods and services support another 1.3 billion people downstream. Glaciers of the HKH feed 10 major rivers that support extensive irrigation systems in the region. Yet, despite this vast natural wealth, mountain people are the ones who have often lived and continue to live in the margins of societies. In a succinct metaphor, they are like the poor and hungry servants who live in a palace made of gold and diamonds.</div>
<div>
	&nbsp;</div>
<div>
	Let me recall what the chief scientific adviser to the UK government, Sir John Beddington, cautioned in March 2009: that food, energy, and water shortages will unleash unrest and international conflicts. This food-energy-water security is intrinsically linked to mountains and mountain communities, and mountains therefore will play a very important political role in the future.</div>
<div>
	&nbsp;</div>
<div>
	However, mountains and their fragile socio-ecosystems today face a host of challenges: out-migration, mostly male; impacts of climate change including retreating glaciers, changing monsoon patterns, disaster frequency, and extreme events; depleting resources and ecosystem services; government neglect and insufficient private investment; and slow development progress compared to lowland areas.</div>
<div>
	&nbsp;</div>
<div>
	Let us recognize that change also brings significant opportunities. For these opportunities to bring about meaningful benefits to mountains communities, a sea change in the attitude of both policymakers and policy implementers is urgently required. Among others, mountains should not be seen as inaccessible or conflict zones, instead communities must rally around the common mountain agenda through collaborations and partnerships. Social development must focus on sustaining functional ecosystems, and broader partnerships must be forged to share mountain knowledge and data. The bond between democracy and sustainable development must be deepened by empowering local people, particularly women.</div>
<div>
	&nbsp;</div>
<div>
	At ICIMOD, in the last few years, we have been issuing forth a rallying call for a broader partnership for all actors to collaborate in finding practical solutions to the challenges facing the mountain communities. We have to seek ways to improve community resilience and explore sustainable livelihood options. We must work across disciplinary boundaries and focus on inclusive growth so that no one is left behind. We must devise innovative financing mechanisms and bring private sector on board the Mountain Agenda. And we must foster and enhance trans-boundary cooperation to share data and knowledge. In this connection, ICIMOD will continue to find ways to address the cross-border issues in the Post-2015 Development Agenda, and partner for talks on processes and the agenda being developed for UNFCCC to help share the voice of vulnerable mountain communities at the global level.</div>
<div>
	&nbsp;</div>
<div>
	As a mountain resource center, ICIMOD will continue to generate information, package it, and disseminate it to all the stakeholders. We will facilitate partnership building among various actors and stakeholders to enhance the capability of the mountain people to transform their own future. We will continue to raise awareness about the importance of mountains and highlight opportunities and constraints in mountain development. We will continue to promote development approach that incorporates mountain people&rsquo;s traditional knowledge in the context of a green economy. Above all, we will continue to seek new windows of opportunities in the area of sustainable mountain development.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<em>(Dr Molden is the Director General of ICIMOD. The article is adapted from a speech he delivered on this year&rsquo;s International Mountain Day.)</em></div>',
			'published' => true,
			'created' => '2013-12-17',
			'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' => 'As we observed the 30th Anniversary of the International Centre for Integrated Mountain Development (ICIMOD) on 5 December, we took the opportunity to once again thank our partners because the impact of ICIMOD work has always been attained through partnership.',
			'sortorder' => '2123',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '2279',
			'article_category_id' => '141',
			'title' => 'Nepal Political Economic News In Brief (16 - 22 December 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>EC Extends PR List Submission Deadline</strong></span></div>
<div>
	The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties. Earlier on December 9, a delegation of Nepali Congress vice-president Ram Chandra Poudel met with Chief Election Commissioner Nil Kantha Uprety and urged him to extend the deadline. Poudel said the political parties are in a process of dialogue and are trying to forge consensus and it would be appropriate to extend the deadline. CEC Uprety had responded positively to the request of NC. Political parties will share 335 PR seats in the 601-member Constituent Assembly based on the number of votes they have received in the November 19 CA elections.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Complaint against Kamal Thapa</strong></span></div>
<div>
	Seventeen central committee members of RPP-Nepal have filed a complaint at the Election Commission (EC) against the party&rsquo;s chairperson Kamal Thapa, saying that Thapa arbitrarily submitted the list of Proportional Representation (PR) nominees to the EC. &ldquo;The Constituent Assembly (CA) election ordinance clearly mentions that the PR list has to be finalized by a majority of the party&rsquo;s central committee,&rdquo; said Prahlad Sah, central assistant general secretary of RPP-N, &ldquo;However, the chairperson (Thapa) has submitted the list highhandedly and without discussing and getting it endorsed through the central committee,&rdquo; Sah said. He claimed that some of the PR nominees were not even ordinary members of the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Singh Sets up Contact Office</strong></span></div>
<div>
	Nepali Congress General Secretary and newly elected Constituent Assembly member from Kathmandu Constituency-1, Prakashman Singh has set up a contact office for his constituency on Saturday. Singh inaugurated the office in Bijuli Bazar amid a program today. He said he would be available in the contact office every day for a certain time and will interact with people in order receive their complaints, suggestions and discuss development activities with them.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Nepal Urges Ex-cadres to Return to UML</strong></span></div>
<div>
	CPN-UML senior leader Madhav Kumar Nepal has called on the leaders and cadres, who have deserted UML to join other parties to return to the mother party. Nepal made the call while addressing the inaugural session of the 23rd Conference of All Nepal National Free Students&rsquo; Union, Koteshwor Multiple Campus Committee on December 13. On the occasion, he also claimed that the UML was the only patriotic and revolutionary party in the country. The UML leader said that his party would work towards taking the country on the path of prosperity by establishing ever-lasting peace.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>&lsquo;Not declaring emergency a mistake&rsquo;</strong></span></div>
<div>
	Former Prime Minister and senior UCPN (Moist) leader Dr Baburam Bhattarai has said that he made a mistake by not extending the term of the last Constituent Assembly (CA) through the declaration of a state of emergency. &nbsp; &ldquo;&hellip;on the night of the dissolution of the CA on May 28, 2012, I had thought about extending the deadline by imposing a state of emergency, although it meant taking the blame myself, and I did announce it but I had to step back under immense pressure, not only from opposition political leaders, but also from my own colleagues. This was the biggest mistake of my life and I very humbly accept it,&rdquo; Dr Bhattarai said in a statement.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The Election Commission (EC) has extended the deadline for the political parties to submit their Proportional Representation (PR) lists by one week. As per the new deadline, the parties will have to submit their PR lists to the EC by December 18. According to EC spokesperson Mahesh Sharma, the deadline was extended as per the request of the political parties.',
			'sortorder' => '2122',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2276',
			'article_category_id' => '140',
			'title' => 'Focus On Budget Implementation: FM',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country&rsquo;s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state&rsquo;s commitment.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Everything included in the country&rsquo;s annual budget is the state&rsquo;s commitment,&rdquo; he said urging the officials to expedite the development projects that were stalled due to the CA election and festivals. The Comptroller General and top officials of government ministries and departments were present in the review meeting.</div>
<div>
	&nbsp;</div>
<div>
	The finance minister directed the officials present in the meeting to work in coordination with the Nepal Rastra Bank (NRB) by attaching high priority to livestock and crops insurance, micro credit and cold storage programmes. He directed the officials not to fulfill formality by only seeking the progress reports of the development projects. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Please expedite the works of the development projects that were stalled due to the festivals and election. I am always there to support you,&rdquo; he assured.</div>
<div>
	&nbsp;</div>
<div>
	Speaking at the meeting, vice-chairperson of the National Planning Commission (NPC) Rabindra Kumar Shakya asked the implementing agencies to end the culture of zero progress of the development programmes. He urged them to present clear reasons for the emergence of such situation. He asked them not to cite the same problem time and again but to explore the reasons behind the malpractice.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, NRB Governor Dr Yubaraj Khatiwada pointed out the need for investment for the commercialization of agriculture in the country. Speaking at the meeting, Finance Secretary Shanta Raj Subedi said that the development expenditure made during the first quarter of the current fiscal year was not satisfactory. He expressed dissatisfaction over the ineffective performance of regulatory bodies such as central bank, securities board and the Insurance Board. Likewise, Finance Comptroller Suman Sharma stressed on the need for effective internal audit for maintaining fiscal discipline.</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Finance Minister Shanker Prasad Koirala has stressed on the need for the implementation of programmes included in the country’s annual budget. Speaking at the quarterly review meeting of development projects held on December 12 at the Ministry of Finance, Koirala urged all stakeholders to coordinate with the concerned agency if any problem emerged in development projects prioritised in the national budget. He also said that the programmes included in the budget were the state’s commitment.',
			'sortorder' => '2121',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 13 => array(
		'Article' => array(
			'id' => '2277',
			'article_category_id' => '140',
			'title' => 'Samriddhi Felicitates Entrepreneurs',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By TC Correspondent</strong></div>
<div>
	&nbsp;</div>
<div>
	Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The final event is the one that recognizes the efforts and success stories of prominent and upcoming entrepreneurs from different sectors,&rdquo; said a press statement from Samriddhi, &ldquo;These entrepreneurs are thus recognized for creating wealth, jobs and better goods and services that make the lives of hundreds and thousands easier.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Samriddhi has been celebrating GEW, which is celebrated globally from November 17 to 23, since 2010. &ldquo;However, given the second Constituent Assembly elections on November 19, the celebrations of GEW in Nepal took place eight days later,&rdquo; the statement said.</div>
<div>
	&nbsp;</div>
<div>
	Renowned social entrepreneur Anil Chitrakar was the key-note speaker of the programme which was moderated by Ranjit Acharya, CEO of Prisma Advertising. &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>List of the felicitated entrepreneurs</strong></span></div>
<div>
	1.Anil Keshari Shah &ndash; CEO, Mega Bank</div>
<div>
	2.<span class="Apple-tab-span" style="white-space:pre"> </span>Bhubaneshwor Phaiiju &ndash; Proprietor, Tranquility Spa</div>
<div>
	3.<span class="Apple-tab-span" style="white-space:pre"> </span>Bir Bahadur Ghale &ndash; Ashoka Fellow, Microhydro Entrepreneur</div>
<div>
	4.<span class="Apple-tab-span" style="white-space:pre"> </span>Chetan Bhandari &ndash; Chairman, Bajeko Sekuwa</div>
<div>
	5.<span class="Apple-tab-span" style="white-space:pre"> </span>Deependra Tandon &ndash; Director, Advantage Group</div>
<div>
	6.<span class="Apple-tab-span" style="white-space:pre"> </span>Khadananda Shiwakoti &ndash; Owner, Siwakoti Bags</div>
<div>
	7.<span class="Apple-tab-span" style="white-space:pre"> </span>Swapnil Acharya &ndash; Director, Expressive Studios</div>
<div>
	8.<span class="Apple-tab-span" style="white-space:pre"> </span>Ujjwal Chapagain &ndash; Managing Director, The Himalayan Rabbit Farm &nbsp;&nbsp;</div>',
			'published' => true,
			'created' => '2013-12-17',
			'modified' => '2013-12-17',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Samriddhi, the Prosperity Foundation, felicitated eight young entrepreneurs for their outstanding achievements amidst a special function organised in the capital last Thursday (December 12). The felicitation programme which followed a series of other events including seminars and interactions between successful and budding entrepreneurs was the final event to celebrate the Global Entrepreneurship Week (GEW) 2013.',
			'sortorder' => '2120',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 14 => array(
		'Article' => array(
			'id' => '2271',
			'article_category_id' => '122',
			'title' => 'Sakya Group: Refined Hospitality',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Gaurav Aryal</strong></div>
<div>
	&nbsp;</div>
<table align="right" style="margin: 0px 0px 0px 10px;" width="25">
	<tbody>
		<tr>
			<td>
				<img alt="Yogendra Sakya, Chairman, Sakya Group" src="/userfiles/images/SP1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 221px;" /></td>
		</tr>
		<tr>
			<td bgcolor="#FFFFFF">
				<div align="center">
					<div style="text-align: center;">
						<div>
							<strong>Yogendra Sakya</strong></div>
						<div>
							Chairman, Sakya Group</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>
<div>
	Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.</div>
<div>
	&nbsp;</div>
<div>
	The journey of their business took a new turn with the establishment of Kathmandu Guest House (KGH) at Thamel in 1970s. Basanta Bahadur Sakya and his brother Karna Sakya turned their residential property, a Victorian palace built by Ranas into a 13 room hotel. Thamel then was a field where jackals roamed freely even during the day, say its promoters. KGH was followed by new hotels namely, Hotel Ambassador (1978), Marcopolo Business hotel (1998) and Club Himalaya Nagarkot (1998). Later, this joint-family split around the year 2000 and the KHG, a well-known brand, went to Karna Sakya while his nephews got some other businesses.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The New Brand Journey</strong></span></div>
<div>
	Yogendra Sakya, Chairman of Sakya Group, says it was painful to suddenly lose the KGH association and start fresh. He adds that it was painful also because he was personally looking after the KGH. Meanwhile, he invested in Ace Institute of Management and Ace Development Bank as one of the major promoters. He branded his hotels as Ace Hotels and Resorts. Currently, Hotel Ambassador Lazimpat and Chhauni, Marcopolo Business Hotel, Club Himalaya Nagarkot, Trek-O-Tel Hotel, The Tea House Inn and Shanti Ban Resort are in operation under this umbrella brand of Ace Hotels. Though he lost the KGH brand name, his expertise gained since 1970s as professional hoteliers remained intact with him. This proved to be strong base needed for advancing in the hospitality business.</div>
<div>
	&nbsp;</div>
<div>
	One of the transformation during the rebranding process was promoting Ace Hotels and Resorts as a mid range hotels, a move from the image of budget hotel. Club Himalaya Resort is the signature hotel that assisted in this transformation. Sakya explains, &ldquo;We are not five star hotels and we have targeted our brand at adventure tourists. We know that they don&rsquo;t come for luxury. This is the market of Nepal and our speciality too.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Sakya family invests and also manages the groups&rsquo; hotel wing while Sakya Investment Company makes investment in various sectors. According to Sakya, the company has invested in banking and financial sectors and they are one of the promoters in Nepal Investment Bank and Ace Development Bank. Likewise the company has investments in real estate as well as a printing press. Similarly, Idea Group has investment in the education industry through Malpi Group of Schools. Sakya says that the group&rsquo;s total investment crosses Rs 1 billion and makes an annual turnover of around Rs 1.25 billion.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Business Expansion</strong></span></div>
<div>
	The group is rebuilding Hotel Ambassador Lazimpat from the ground. The group demolished its building when the road expansion drive of Kathmandu needed to break a portion of hotel. Sakya says that the hotel will be built as a four star property in next two years. He reveals that Rs 300 million is invested in the rebuilding and he is expecting that the budget will cross its limit. Sakya says that he took the challenge as an opportunity and only the time will tell that it is for the better.</div>
<div>
	&nbsp;</div>
<div>
	For the time being, guests of Hotel Ambassador, Lazimpat are accommodated at Hotel Ambassador, Chh auni. Sakya says that the buildings at Chhauni were designed as apartment for the Sakya family. But the need turned it into the hotel and he adds that it was mainly done to keep the Hotel Ambassador open for two years &ndash; until the construction completes at Lazimpat. However, Sakya says that he has plans to continue this property at Chhauni as an apartment hotel. Ambassador Chhauni has 25 rooms and 14 apartments.</div>
<div>
	&nbsp;</div>
<div>
	The group has a couple of other hotels in the pipeline. Sakya says that the group had planned to complete Sakya Heritage Hotel targeting upmarket clients at Nagpokhari. The plan has been postponed because of the demolition of Ambassador that required priority to reconstruct. Along with that the group is planning to complete the resort project in Chitwan &ndash; Club Wilderness, after present projects are completed. Sakya says that the Club Wilderness project was postponed considering the surge in the number of new hotels and lodges in Chitwan.Stating that the project is not dropped, he adds that the resort will be built with a new concept of serving tourists especially visiting both Chitwan and Lumbini.</div>
<div>
	&nbsp;</div>
<div>
	Sakya says that he wants to go step by step in the business rather than jumping at once into 10 hotel projects. &ldquo;We start a business small and let it grow. Once it stands firmly on solid ground, we move forward,&rdquo; says Sakya.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="" src="/userfiles/images/SP3%20(Copy).jpg" style="width: 550px; height: 629px; margin-left: 10px; margin-right: 10px;" /></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Opportunities Galore</strong></span></div>
<div>
	Sakya believes that China and India are Nepal&rsquo;s two economic giant neighbours, from where tourists can walk, fly or ride to Kathmandu. He predicts that these two countries will be the biggest tourism market for Nepal. &ldquo;Nepal&rsquo;s tourism was discovered. We never planted it,&rdquo; he says expressing discontent with the tourism promotion strategy. He suggests that Nepal should be going directly to the consumers when it comes to promotion rather than to the tour operators. &ldquo;There is a huge untapped market for us. &nbsp;If we can explore Chinese and Indian markets, we can bring two million tourists every year. The only challenge is in finding way to reach the consumers,&rdquo;&nbsp;</div>
<div>
	he adds.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The trend of bringing international chain hotel brands has revived in Nepal with big names like Marriot and Sheraton landing in Nepal soon. &nbsp;However, Sakya rules out the possibility of his group&rsquo;s partnership with an international brand.&ldquo;You don&rsquo;t have to borrow international name to succeed. Rise of the Internet, and e-marketing, has enabled clients to analyse features of local brand right on their devices. Local names too can be sold through this channel. Individual products can be directly brought to the customers attention and sold well.&rdquo; At present, 20 per cent of total sales in the tourism industry are made through online booking, says Sakya. He explains that there are big opportunities for local products for creating independent brand name. &ldquo;We would like to make our own hotel chain at the domestic level, if not international,&rdquo; adds Sakya.&nbsp;</div>
<div>
	&nbsp;</div>
<table border="0" cellpadding="10" width="99%">
	<tbody>
		<tr>
			<td bgcolor="#E5E4E2">
				<div>
					<div>
						<div>
							<div>
								<div>
									<div>
										<span style="font-size:16px;"><strong>Some Companies under Group</strong></span></div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Lazimpat</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Hotel Ambassador, Chhauni</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Marcopolo Business Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Club Himalaya Nagarkot</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Trek-O-Tel Hotel</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Shati Ban Resort</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>The Tea House Inn</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>MarcoPolo Travels Nepal</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Ace Development Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Nepal Investment Bank</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Malpi Group of Schools</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>IT Himalaya &ndash; A Dutch- Nepali Joint Venture</div>
									<div>
										&bull;<span class="Apple-tab-span" style="white-space:pre"> </span>Mata International</div>
									<div>
										&nbsp;</div>
									<div>
										<img alt="Ace Development Bank" src="/userfiles/images/SP4%20(Copy).jpg" style="width: 550px; height: 458px; margin-left: 10px; margin-right: 10px;" /></div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Hands-on Management&nbsp;</strong></span></div>
									<div>
										Being professional hoteliers, Sakyas love to invest as well as manage their hotel and resort projects. So, the Sakya couple and also the next generation businessmen are looking after their hospitality ventures. Yogendra Sakya looks after finance and planning while his son and daughter are looking after product development and marketing respectively. &ldquo;Weare professionally hoteliers. Elsewhere we are just investors,&rdquo; Sakya explains who is also a Hotel Management graduate.</div>
									<div>
										&nbsp;</div>
									<div>
										Currently,300 employees are working in the hotel projects alone. Lately unionisation has become one of the major challenges for the management, Sakya says. His companies do not have unions apart from Club Himalaya because he deals directly with the staff in other hotels. Though some responsibilities are taken by the promoters too, the management team looks after all major responsibilities. Sakya communicates personally with his managers daily and spends around two hours every day to review the progress of the hotel. He says that the Internet and technology has greatly assisted the management process.</div>
									<div>
										&nbsp;</div>
									<div>
										<span style="font-size:16px;"><strong>Direct &amp; Holistic CSR</strong></span></div>
									<div>
										Sakya Group believes more in direct involving in activities that contribute to the overall development of the community and the area, rather than providing financial support to causes. &ldquo;There must be something that we do on our own,&rdquo; he said while giving an example of group&rsquo;s contribution to Nagarkot.</div>
									<div>
										&nbsp;</div>
									<div>
										He recalls that there was no proper road when Club Himalaya was established in Nagarkot and the group strongly advocated for proper road construction. Sakya takes the road development in Nagarkot as an important part of tourism development there and an important corporate social responsibility undertaken by his group.</div>
									<div>
										&nbsp;</div>
									<div>
										Similarly, the group also provided drinking water facility to the locals and installed telephone tower at its resort premises. Likewise, a police station was established through the resort&rsquo;s initiation. Sakya claims that electricity supply was extended in the area due to his company&rsquo;s initiation. Staircase construction is ongoing at Mahadev Pokhari in Nagarkot. According to Sakya, various trainings are provided and a health post too is established in his company&rsquo;s partnership with local bodies. According to him, these development works are part of the group&rsquo;s belief in directly involving in development initiatives rather than just providing financial support.</div>
									<div>
										&nbsp;</div>
								</div>
							</div>
						</div>
					</div>
				</div>
			</td>
		</tr>
	</tbody>
</table>',
			'published' => true,
			'created' => '2013-12-16',
			'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' => 'Sakya Group is a journey from gold craftsmanship to the glittering hospitality business. Sakyas of Kathmandu Valley have been known for their expertise in the jewellery business. Family of Bashanta Bahadur Sakya, one of the founders of the group was continuing the lineage of jewellery business and had a store at Ason of Kathmandu until early 1970s. When he turned colour blind, he had to deviate from his ancestral profession.',
			'sortorder' => '2119',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	)
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/index.ctp, line 157
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117