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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' => '2215', 'article_category_id' => '99', 'title' => 'Chaudhary Wins Everest Golf Challenge', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Everest Golf Challenge" src="/userfiles/images/trsm2%20(Copy).jpg" style="width: 550px; height: 155px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> S<span style="font-size: 12px;">uryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine. Rabindra Man Shrestha came second on the count back with 35 points. Shrestha, who is also NPGA President, scored 16 on the front nine and 19 on the back nine. Wangchen Dhondup won the best gross award after producing a score card of 33 gross points.</span></div> <div> </div> <div> Team India comprising of Prem Sachdev, Prabhat Sinh and Joseph Nathan won the team event with 69 points. Nepali team of Purna Bahadur Rai, Lobsang Tashi and Tendi Sherpa finished second with 68 points. Two best scores were counted for team score. KNS Thapa bagged the best senior golfer award with 33 stableford points. Hridesh Kumar Singh claimed most birdies with four birdies, Suhrid Ghimire won the closest to the pin award and Rene Vijay Einhaus won the longest drive award. </div> <div> </div> <div> The tournament sponsored by Everest Bank Limited was played under stableford format with 3/4 handicap. There was individual and team event in the competition. A total of 92 players took part in the tournament. There were five teams from Malaysia and Nepal, and a team each from South Korea and India. </div> <div> </div> <div> CPN UML Leader KP Sharma Oli, CEO of Everest Bank AK Aluwalia, President of Gokarna Golf Club Suhrid Ghimire, and Advisor of Malaysia Nepal Business Council Tan Sri Aseh gave away the prizes to the winners.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Suryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine.', 'sortorder' => '2058', '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' => '2214', 'article_category_id' => '99', 'title' => 'Ford And Gyanodaya Organize November Festival 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="November Festival 2013" src="/userfiles/images/trsm1%20(Copy).jpg" style="width: 550px; height: 203px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> F<span style="font-size: 12px;">ord in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival. </span></div> <div> </div> <div> Ford, with its association, had on display its popular models and also offered of special offer for teachers. The company also provided car exchange facility with on the spot valuation and exchange bonus. </div> <div> </div> <div> The food section in the Festival had many local and international delicacies, including Newari dishes, Burmese noodles and American style fast food among others. There were numerous games in the festival like wheel of fortune, hoopla, car race, lucky dip, treasure hunt and lucky seven. There were musical performances by various local and international artists.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Ford in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival.', 'sortorder' => '2057', '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' => '2213', 'article_category_id' => '99', 'title' => 'Nepal Bags Best Decorated International Stall In IITM 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="Nepal Tourism Board" src="/userfiles/images/trsm%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 189px;" />N</span><span style="font-size: 12px;">epal Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013. The three-day event highlighted Nepal through Lord Shiva, Mount Everest and as birthplace of Lord Buddha, and showcased diverse tourism attractions offering special packages for travellers of Pune. </span></div> <div> </div> <div> According to NTB, Nepal’s stall was located in the most prime location at the entrance and was the point of attraction for visitors. At a special ceremony conducted by the organizers during the IITM 2013 Awards Night, Nepal was recognized and honoured with the ‘Best Decorated International Stall’ award. </div> <div> </div> <div> The event conveyed the message that Nepal is not just the nearest international destination with value for money but also a gateway to various Himalayan treks in Nepal and also to Mount Kailash in Tibet. Besides the pilgrimage tours of Pashupatinath and Muktinath, city tours of Kathmandu , Pokhara and Chitwan, Nepal is increasingly becoming the nearest international trekking destination for the Pune youths, college and university students. While Indians have taken overseas travel as a part of their lifestyle, Nepal with easy access by air and land has succeeded in receiving a good number of Indian visitors. </div> <div> </div> <div> NTB’s Travel Partners of IITM 2013 were Gangotri Tours and Travels Pvt Ltd, Kailash Journeys Pvt Ltd, Kathmandu Tours and Travels Pvt Ltd, Mega Adventures International Pvt Ltd, and Peak Promotion Pvt Ltd. </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013.', 'sortorder' => '2056', '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' => '2212', 'article_category_id' => '152', 'title' => 'Focus Briefs (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>SB Furniture Introduces New Products</strong></span></div> <div> SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers.</div> <div> </div> <div> The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.</div> <div> </div> <div> He added that the company has introduced products under two different categories; the first one is practical, where the furniture items are more focused on the utility factor catering to the demands of people with medium level earnings, while the design oriented furniture items are specifically designed for style and cater to the demands of the premium product seeker.</div> <div> </div> <div> The current range of bedrooms at SB Furniture have prices starting from Rs 38,000, sofa sets starting from Rs 70,000, dining set from Rs 100,000 and wardrobes from around Rs 60,000. Joshi said that SB is a Thailand based, most sought after furniture brand and all its products come directly to Nepal for sale.</div> <div> </div> <div> The company claims that its products are among the most trusted one in the niche and that its brand is synonymous with quality. “Ever since we started dealing in SB Furniture, we haven’t received any serious complains from the customers.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Furniture Care and Maintenance</strong></span></div> <div> Here are some useful tips for taking care of these and other brands exclusive furniture: </div> <div> </div> <div> •A dry or slightly damp cloth will work well to clean your furniture. </div> <div> </div> <div> •Do not use spray polish, silicon waxes, or lemon oil of any kind on furniture as it will dull the finish. Usually a high quality wax will work well in maintaining a good luster and will help seal the wood against potential stains. </div> <div> </div> <div> •Apply a thin film of wax to the surface, working a small area at one time. Always rub in the same direction as the grain, then buff with a soft, dry cloth. </div> <div> </div> <div> •Frequent dusting of your furniture will help maintain the luster of both oil and lacquer finishes. Use a dry, soft cotton cloth.</div> <div> </div> <div> •Use common sense and don’t place wet or hot objects on your wooden furniture. Use trivets and coasters to prevent damage, and wipe up spills promptly.</div> <div> </div> <div> •Excessive or prolonged exposure to sunlight can fade the color of your furniture and dry the wood. Use window coverings or tablecloths to prevent daily direct exposure of your furniture to the sun. If you leave objects such as candleholders or vases on an uncovered wood surface, rotate them regularly to prevent dark or light spots.</div> <div> </div> <div> •As part of natural aging, your wood furniture will typically develop a beautiful patina and undergo color changes, depending on the wood. Cherry typically darkens while walnut tends to lighten with time. Pine, alder and red oak tend to turn a golden color as they age.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers. The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.', 'sortorder' => '2055', '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' => '2211', 'article_category_id' => '153', 'title' => 'Furniture From Abroad Abounds', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Suraksha Adhikari </strong></div> <div> </div> <div> W<span style="font-size: 12px;">ith changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house. As designer furniture is becoming synonymous to status statement, higher standards and better comfort is sought. This has led to the rise in import of international designer furniture brands. </span></div> <div> </div> <div> “Nepali market is gradually moving towards imported furniture as they are cheaper by almost 50 per cent in comparison to local wood furniture. Affordable pricing, attractive looks and suitability for interior design and adjustable fittings are reasons of growing preference for imported furniture,” Surendra Kumar Sharda, Senior Vice-President of Nepal Furniture and Furnishing Association (NFFA), said while elaborating current trend in the sector. </div> <div> </div> <div> Though demand for designer furniture is increasing, a lack of investment in producing such furnitures within the nation is seen. “Accepting the fact that furniture industry is moving towards greater dependency on import in the last five years, industrialists are not interested in taking risk by investing and establishing manufacturing units. For them imported readymade furniture trading is an easy and secured means of doing business,” Sharda said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Customer Preferences</strong></span></div> <div> Demand for imported furniture in the Kathmandu valley has been rising significantly with consumers getting more conscious about creating a unique look for their homes. The shift in preference can be measured by the fact that more than four dozen furniture stores dealing in imported products have been trading in the valley.</div> <div> </div> <div> Furniture stores which started with a limited product range now are expanding their entire stock ranging from office furniture, to kid’s special furniture along with sofa sets, TV cabinets and bedroom sets, to name a few. Apart from wood, modern furniture use various materials like steel, plastic, tubular steel, leather straps, laminates, glasses, molded plywood and synthetic wood to give a stylish finish and light weight.</div> <div> </div> <div> Both local and Chinese furniture, have their own separate markets with their individual advantages and disadvantages. Locally made furniture is preferred for its durability and quality of wood. But when it comes to design, decorative options, purpose-fulfillment and affordability the market swings to Chinese furniture. </div> <div> </div> <div> Responding to varied backgrounds and demands of customers, some furniture traders trade domestic and imported furniture. Their catch remains to retain customers by catering to their specific demands. Suresh Shrestha, Managing Director of Bira Furniture, informs that they include both local as well as imported furniture in their showroom, to fulfill demands of the varied customers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Variety in Furniture</strong></span></div> <div> Furniture stores across the nation today offer variety in furniture depending on custom needs, demands and pocket. With an assorted variety of designer furniture available at various price range, they are making difference when designing a house. No matter how low the budget is, these furniture still provide an unique and stylish look. </div> <div> </div> <div> “Various factors including availability of numerous designs and superior finishing has helped in raising demand for imported furniture,” Shrestha said. Apart from this, competitive prices have played a crucial role in increasing sales of imported furniture, he added. </div> <div> </div> <div> “Demand for local furniture seems a little down since the last two years. Possible factors contributing in it are lower growth in land transactions and real estate development, gradual influx and growing popularity of Chinese furniture in the market,” Gobinda Timilsina, a Sales Representative at Varieties Traders, Kumaripati, said. “The government is not sensitive towards the problem faced by the furniture industry. Despite huge scope, lack of everything is hitting the domestic furniture industry.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Domestic Furniture </strong></span></div> <div> Nepali furniture industry uses saal, sisau, utis, and mango wood for the production of furniture. Other raw materials are imported from India, China and Malaysia. Size, quality and design determine the price. There are different varieties of furniture available in the market from sofas and beds to designate cupboards and office tables. The price range of local made sofa set starts from Rs 8,000 to Rs 46,000; cupboard starts from Rs 9,000. Prices differ depending upon length, height and style. </div> <div> </div> <div> Traders said that the country’s furniture market is worth around Rs 1 billion annually and that the industry is growing by around 25 percent. Most of the imported furniture available in the market comes from China. Traders said that Chinese furniture accounts for more than 80 percent of the imported furniture market. Furniture from places like India, Thailand, Indonesia and Malaysia too are popular in the domestic market. As for premium products, most are imported from Europe.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imported Products </strong></span></div> <div> Around 60 per cent of the furniture and furnishing products available in Nepal are imported. The imported goods include flooring, furnishing (except carpets), furniture and décor items. “While imports have swelled over the years, domestic production is declining consistently,” Kabindra Joshi, General Secretary of NFFA, said. </div> <div> </div> <div> While overpopulation, triggered due to excessive migration of people to different urban centres in Nepal, has resulted in increased demand for furniture, domestic manufacturers have not been able to meet it. “Decline in domestic production has not stopped people from buying furniture and hence, traders are increasingly depending on imported products to meet the market demand,” Joshi added.</div> <div> </div> <div> Manufacturers allege that lack of skilled craftsmen, power cuts, non-availability of raw materials and absence of a favourable government policy are major reasons for the decline of domestic production. They stress on the need of a proper government mechanism to boost domestic furniture industry while pointing to nation’s volatile political environment as a crucial factor contributing to decline in their business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems and Challenges </strong></span></div> <div> Lack of qualified labour and skilled manpower is another reason why the industry is diminishing here in Nepal. Traders said that the trend of youth going abroad has created labour scarcity. If the gap is not filled sooner, this will result in bigger problems. </div> <div> </div> <div> Similarly, lack of big factories which can produce furniture on large scaled and compete with products imported from China and other nations, in terms of production, price, and design has diminished market for domestic products. “We are manufacturing in small quantities using traditional methods and that is not really sufficient to survive the competition,” Sharda said. He feels that domestic furniture manufacturing industry needs technological improvement to survive the competition. </div> <div> </div> <div> Like other industries, this industry also has been hit power shortage. “We are also suffering from long hours of power cut. Power cut has hindered us to supply products on stipulated time. This has been a great set back for our business,” Shrestha complained. </div> <div> Mushrooming furniture trading shops and cut throat competition are a threat to the business.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Future Prospects</strong></span></div> <div> An investment of Rs 20 billion has already been made in the domestic furniture and furnishing industry, Joshi said while informing that they “are working on a strategy to approach the government and acquire its attention towards the welfare of the industry.” </div> <div> </div> <div> Apart from the cultural and historical significances, traditional furniture industry can also be a considerable boost to the economy of the country, if it is runs smoothly. Joshi said that the domestic manufacturers, if encouraged and treated properly, have the potential to export, while fulfilling local demand. </div> <div> </div> <div> “The furniture and furnishing industry can look for better days ahead as its products have positioned themselves as people’s necessities rather than luxury,” claimed Joshi. He said that housing and real estate, residences, office complexes, hotels and restaurants, schools and colleges and development projects are booming market for the furniture and furnishing industry.</div> <div> </div> <div> <img alt="Focus News" src="/userfiles/images/fcs%20(Copy).jpg" style="width: 550px; height: 418px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'With changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house.', 'sortorder' => '2054', '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' => '2210', 'article_category_id' => '113', 'title' => 'US Dollar Exchange At Local Market (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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', 'sortorder' => '2053', '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' => '2209', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2052', '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' => '2208', 'article_category_id' => '111', 'title' => 'Top Ten Gainers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2051', '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' => '2207', 'article_category_id' => '110', 'title' => 'Top Ten Losers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2050', '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' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', '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' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', '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' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', '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' => '2202', 'article_category_id' => '151', 'title' => 'IIM-Ahmedabad Among Top 39 Elite B-Schools In The World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">I</span><span style="font-size: 12px;">IM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.</span></div> <div> </div> <div> The report, published by webportal - www.TopMBA.com - highlights four distinct categories of business school in terms of employer recognition: Elite Global, Emerging Global, Elite Regional, Emerging Regional. It said that B-school graduates from India are the world’s most academically distinguished.</div> <div> </div> <div> Students at Indian Institute of Management, Bangalore (780) and Indian Institute of Management, Ahmedabad (767) have the highest average GMAT scores in the world, well ahead of the leading US institution Stanford (730), and INSEAD in Europe (704), the report said.</div> <div> </div> <div> The ratings provide a detailed overview of the most popular business schools around the world, based on details provided to QS by over 3,300 employers who actively recruit MBA graduates. The report is based on 4,318 responses from recruiters, making it the largest survey of its kind.</div> <div> </div> <div> Of the 39 leading institutions to make the Elite Global category, 15 are from the US, Canada (7), UK (3), Spain (3), France and Singapore 2 each, and one each from India, Germany, Switzerland, Italy, Ireland and Denmark.</div> <div> </div> <div> Apart from IIM Ahmedabad, two Asian B-Schools which have made in to the Elite Global category are INSEAD Singapore and NUS Business School, National University of Singapore.<em> (ibnlive.in.com)</em></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'IIM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.', 'sortorder' => '2046', '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' => '2201', 'article_category_id' => '156', 'title' => 'More Proof That Hiring And Dating Aren’t So Different', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rachel Emma Silverman</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.</span></div> <div> </div> <div> Turns out, hiring managers at elite professional firms really do tend to evaluate candidates as if they were potential romantic partners or new friends, according to recent research by Kellogg management professor Lauren Rivera.</div> <div> </div> <div> The Kellogg study found that employers tend to evaluate candidates on whether they’d be likely to hang out with them, rather than strictly focusing on a person’s qualifications for the job.</div> <div> </div> <div> Even dating site eHarmony is getting into the recruiting game. The company is developing a recruiting site to more effectively match companies to candidates, says Grant Langston, vice president of customer experience.</div> <div> </div> <div> “Where do people not experience a lot of compatibility?” says Mr. Langston. “One of the first things we came up with was jobs we are currently trying to isolate what are the things that make an employee a good fit.” The product, which is in the early stages, may come out next year.</div> <div> </div> <div> According to the Kellogg research, professionals involved in hiring placed more emphasis on how comfortable or excited they were about candidates than on applicants’ cognitive or technical skills.</div> <div> </div> <div> That doesn’t mean employers hire unqualified workers, Rivera says. But, she adds, her findings show that “employers hire in a manner more closely resembling the choice of friends or romantic partners” than what we might expect. Hiring managers pay especially close attention to criteria such as similar education level and schools attended, shared leisure pursuits and a mutual “spark,”— factors similar to those people use when choosing a friend or mate.</div> <div> </div> <div> In her study, comprised of 120 interviews with hiring professionals at elite U.S. investment banks, law firms and consulting firms, more than half of the hiring professionals ranked “cultural fit”—similarity of background, interests and self-presentation—as the most important factor in an interview.</div> <div> </div> <div> The danger, of course, is that workers from cultural backgrounds that don’t match their evaluators’ backgrounds may be at a disadvantage when they’re up for a job. Especially when it comes to elite jobs, people who come from lower socioeconomic backgrounds might not get the same consideration a well-off candidate would, Rivera says. (The Wall Street Journal)</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-16', '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 back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.', 'sortorder' => '2045', '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' => '2199', 'article_category_id' => '144', 'title' => 'Now Prove Your Salt', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">econd Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not. </span></div> <div> </div> <div> Most of our leaders are ‘populist’ and accountability is what they failed to demonstrate in the past. Most of the public have doubts that they might repeat the same mistake even in the days to come. They prepare manifesto as publicity material for election but fail to implement the commitments made in them after they get into power. </div> <div> </div> <div> Unlike previous elections, political parties in this CA election hav emphasized on economic agenda that have kindled new hopes and aspirations to the private sector. High turnout of votes for parties supporting liberal economy is evident of the people’s distaste for politics of confrontation and conspiracy. Sweeping victory of traditionally moderate political parties that favor economic freedom and civil liberties has provided grounds to private sector to look forward for reforms in national economic policies and state initiatives that will boost country’s economic status. </div> <div> </div> <div> First, of these measures to be taken by political parties should be putting their efforts to provision for complete ‘economic freedom’ in the new constitution. Secondly, they should stick to their commitment of making the country a ‘strike-free’ zone. It is high time for all parties to come together and implement measures that will help in gaining the objective of making Nepal a country with power surplus within few years. They should promote productive sector and bring policies to propel export from Nepal. </div> <div> </div> <div> In spite of lamenting for resource crunch, parties should realize the issue of ‘resource curse’ and should come up with collectively effort to overcome hurdles in resolving the issue. They should work jointly in clearing ambiguities and obstacles in existing policies and programs and introduce relevant and essential policies to develop hydro electricity, infrastructure, agriculture, tourism and other economic sectors included in their election manifesto. </div> <div> </div> <div> It’s however is not easy task for leaders who speak just to lure voters. For instance, Rameshwar Phuyal of CPN UML had pledged to double senior citizens allowances, if UML would form a government. His remark is representative of some politician’s distributive mindset in the backdrop of declining capital expenditure. </div> <div> </div> <div> Translating promises into action might be tricky to political parties especially when the nation is making its way through transition. Despite such scenario, will power among political party leaders to move ahead in consensus for common national development objectives is a commitment made by all political parties, and it’s high time they stick to it.</div> <div> </div> <div> Political parties should work for the development of the entire nation instead of catering and caring needs of their party and party cadres. They should not introduce distributive budget and avoid nepotism and favoritism. </div> <div> </div> <div> Their failure to do so, will result in the rise of left or right extremism in Nepal, as in the past.</div>', 'published' => true, 'created' => '2013-12-02', 'modified' => '2013-12-03', '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' => 'Second Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not.', 'sortorder' => '2044', '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 = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2215', 'article_category_id' => '99', 'title' => 'Chaudhary Wins Everest Golf Challenge', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Everest Golf Challenge" src="/userfiles/images/trsm2%20(Copy).jpg" style="width: 550px; height: 155px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> S<span style="font-size: 12px;">uryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine. Rabindra Man Shrestha came second on the count back with 35 points. Shrestha, who is also NPGA President, scored 16 on the front nine and 19 on the back nine. Wangchen Dhondup won the best gross award after producing a score card of 33 gross points.</span></div> <div> </div> <div> Team India comprising of Prem Sachdev, Prabhat Sinh and Joseph Nathan won the team event with 69 points. Nepali team of Purna Bahadur Rai, Lobsang Tashi and Tendi Sherpa finished second with 68 points. Two best scores were counted for team score. KNS Thapa bagged the best senior golfer award with 33 stableford points. Hridesh Kumar Singh claimed most birdies with four birdies, Suhrid Ghimire won the closest to the pin award and Rene Vijay Einhaus won the longest drive award. </div> <div> </div> <div> The tournament sponsored by Everest Bank Limited was played under stableford format with 3/4 handicap. There was individual and team event in the competition. A total of 92 players took part in the tournament. There were five teams from Malaysia and Nepal, and a team each from South Korea and India. </div> <div> </div> <div> CPN UML Leader KP Sharma Oli, CEO of Everest Bank AK Aluwalia, President of Gokarna Golf Club Suhrid Ghimire, and Advisor of Malaysia Nepal Business Council Tan Sri Aseh gave away the prizes to the winners.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Suryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine.', 'sortorder' => '2058', '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' => '2214', 'article_category_id' => '99', 'title' => 'Ford And Gyanodaya Organize November Festival 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="November Festival 2013" src="/userfiles/images/trsm1%20(Copy).jpg" style="width: 550px; height: 203px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> F<span style="font-size: 12px;">ord in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival. </span></div> <div> </div> <div> Ford, with its association, had on display its popular models and also offered of special offer for teachers. The company also provided car exchange facility with on the spot valuation and exchange bonus. </div> <div> </div> <div> The food section in the Festival had many local and international delicacies, including Newari dishes, Burmese noodles and American style fast food among others. There were numerous games in the festival like wheel of fortune, hoopla, car race, lucky dip, treasure hunt and lucky seven. There were musical performances by various local and international artists.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Ford in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival.', 'sortorder' => '2057', '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' => '2213', 'article_category_id' => '99', 'title' => 'Nepal Bags Best Decorated International Stall In IITM 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="Nepal Tourism Board" src="/userfiles/images/trsm%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 189px;" />N</span><span style="font-size: 12px;">epal Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013. The three-day event highlighted Nepal through Lord Shiva, Mount Everest and as birthplace of Lord Buddha, and showcased diverse tourism attractions offering special packages for travellers of Pune. </span></div> <div> </div> <div> According to NTB, Nepal’s stall was located in the most prime location at the entrance and was the point of attraction for visitors. At a special ceremony conducted by the organizers during the IITM 2013 Awards Night, Nepal was recognized and honoured with the ‘Best Decorated International Stall’ award. </div> <div> </div> <div> The event conveyed the message that Nepal is not just the nearest international destination with value for money but also a gateway to various Himalayan treks in Nepal and also to Mount Kailash in Tibet. Besides the pilgrimage tours of Pashupatinath and Muktinath, city tours of Kathmandu , Pokhara and Chitwan, Nepal is increasingly becoming the nearest international trekking destination for the Pune youths, college and university students. While Indians have taken overseas travel as a part of their lifestyle, Nepal with easy access by air and land has succeeded in receiving a good number of Indian visitors. </div> <div> </div> <div> NTB’s Travel Partners of IITM 2013 were Gangotri Tours and Travels Pvt Ltd, Kailash Journeys Pvt Ltd, Kathmandu Tours and Travels Pvt Ltd, Mega Adventures International Pvt Ltd, and Peak Promotion Pvt Ltd. </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013.', 'sortorder' => '2056', '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' => '2212', 'article_category_id' => '152', 'title' => 'Focus Briefs (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>SB Furniture Introduces New Products</strong></span></div> <div> SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers.</div> <div> </div> <div> The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.</div> <div> </div> <div> He added that the company has introduced products under two different categories; the first one is practical, where the furniture items are more focused on the utility factor catering to the demands of people with medium level earnings, while the design oriented furniture items are specifically designed for style and cater to the demands of the premium product seeker.</div> <div> </div> <div> The current range of bedrooms at SB Furniture have prices starting from Rs 38,000, sofa sets starting from Rs 70,000, dining set from Rs 100,000 and wardrobes from around Rs 60,000. Joshi said that SB is a Thailand based, most sought after furniture brand and all its products come directly to Nepal for sale.</div> <div> </div> <div> The company claims that its products are among the most trusted one in the niche and that its brand is synonymous with quality. “Ever since we started dealing in SB Furniture, we haven’t received any serious complains from the customers.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Furniture Care and Maintenance</strong></span></div> <div> Here are some useful tips for taking care of these and other brands exclusive furniture: </div> <div> </div> <div> •A dry or slightly damp cloth will work well to clean your furniture. </div> <div> </div> <div> •Do not use spray polish, silicon waxes, or lemon oil of any kind on furniture as it will dull the finish. Usually a high quality wax will work well in maintaining a good luster and will help seal the wood against potential stains. </div> <div> </div> <div> •Apply a thin film of wax to the surface, working a small area at one time. Always rub in the same direction as the grain, then buff with a soft, dry cloth. </div> <div> </div> <div> •Frequent dusting of your furniture will help maintain the luster of both oil and lacquer finishes. Use a dry, soft cotton cloth.</div> <div> </div> <div> •Use common sense and don’t place wet or hot objects on your wooden furniture. Use trivets and coasters to prevent damage, and wipe up spills promptly.</div> <div> </div> <div> •Excessive or prolonged exposure to sunlight can fade the color of your furniture and dry the wood. Use window coverings or tablecloths to prevent daily direct exposure of your furniture to the sun. If you leave objects such as candleholders or vases on an uncovered wood surface, rotate them regularly to prevent dark or light spots.</div> <div> </div> <div> •As part of natural aging, your wood furniture will typically develop a beautiful patina and undergo color changes, depending on the wood. Cherry typically darkens while walnut tends to lighten with time. Pine, alder and red oak tend to turn a golden color as they age.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers. The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.', 'sortorder' => '2055', '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' => '2211', 'article_category_id' => '153', 'title' => 'Furniture From Abroad Abounds', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Suraksha Adhikari </strong></div> <div> </div> <div> W<span style="font-size: 12px;">ith changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house. As designer furniture is becoming synonymous to status statement, higher standards and better comfort is sought. This has led to the rise in import of international designer furniture brands. </span></div> <div> </div> <div> “Nepali market is gradually moving towards imported furniture as they are cheaper by almost 50 per cent in comparison to local wood furniture. Affordable pricing, attractive looks and suitability for interior design and adjustable fittings are reasons of growing preference for imported furniture,” Surendra Kumar Sharda, Senior Vice-President of Nepal Furniture and Furnishing Association (NFFA), said while elaborating current trend in the sector. </div> <div> </div> <div> Though demand for designer furniture is increasing, a lack of investment in producing such furnitures within the nation is seen. “Accepting the fact that furniture industry is moving towards greater dependency on import in the last five years, industrialists are not interested in taking risk by investing and establishing manufacturing units. For them imported readymade furniture trading is an easy and secured means of doing business,” Sharda said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Customer Preferences</strong></span></div> <div> Demand for imported furniture in the Kathmandu valley has been rising significantly with consumers getting more conscious about creating a unique look for their homes. The shift in preference can be measured by the fact that more than four dozen furniture stores dealing in imported products have been trading in the valley.</div> <div> </div> <div> Furniture stores which started with a limited product range now are expanding their entire stock ranging from office furniture, to kid’s special furniture along with sofa sets, TV cabinets and bedroom sets, to name a few. Apart from wood, modern furniture use various materials like steel, plastic, tubular steel, leather straps, laminates, glasses, molded plywood and synthetic wood to give a stylish finish and light weight.</div> <div> </div> <div> Both local and Chinese furniture, have their own separate markets with their individual advantages and disadvantages. Locally made furniture is preferred for its durability and quality of wood. But when it comes to design, decorative options, purpose-fulfillment and affordability the market swings to Chinese furniture. </div> <div> </div> <div> Responding to varied backgrounds and demands of customers, some furniture traders trade domestic and imported furniture. Their catch remains to retain customers by catering to their specific demands. Suresh Shrestha, Managing Director of Bira Furniture, informs that they include both local as well as imported furniture in their showroom, to fulfill demands of the varied customers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Variety in Furniture</strong></span></div> <div> Furniture stores across the nation today offer variety in furniture depending on custom needs, demands and pocket. With an assorted variety of designer furniture available at various price range, they are making difference when designing a house. No matter how low the budget is, these furniture still provide an unique and stylish look. </div> <div> </div> <div> “Various factors including availability of numerous designs and superior finishing has helped in raising demand for imported furniture,” Shrestha said. Apart from this, competitive prices have played a crucial role in increasing sales of imported furniture, he added. </div> <div> </div> <div> “Demand for local furniture seems a little down since the last two years. Possible factors contributing in it are lower growth in land transactions and real estate development, gradual influx and growing popularity of Chinese furniture in the market,” Gobinda Timilsina, a Sales Representative at Varieties Traders, Kumaripati, said. “The government is not sensitive towards the problem faced by the furniture industry. Despite huge scope, lack of everything is hitting the domestic furniture industry.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Domestic Furniture </strong></span></div> <div> Nepali furniture industry uses saal, sisau, utis, and mango wood for the production of furniture. Other raw materials are imported from India, China and Malaysia. Size, quality and design determine the price. There are different varieties of furniture available in the market from sofas and beds to designate cupboards and office tables. The price range of local made sofa set starts from Rs 8,000 to Rs 46,000; cupboard starts from Rs 9,000. Prices differ depending upon length, height and style. </div> <div> </div> <div> Traders said that the country’s furniture market is worth around Rs 1 billion annually and that the industry is growing by around 25 percent. Most of the imported furniture available in the market comes from China. Traders said that Chinese furniture accounts for more than 80 percent of the imported furniture market. Furniture from places like India, Thailand, Indonesia and Malaysia too are popular in the domestic market. As for premium products, most are imported from Europe.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imported Products </strong></span></div> <div> Around 60 per cent of the furniture and furnishing products available in Nepal are imported. The imported goods include flooring, furnishing (except carpets), furniture and décor items. “While imports have swelled over the years, domestic production is declining consistently,” Kabindra Joshi, General Secretary of NFFA, said. </div> <div> </div> <div> While overpopulation, triggered due to excessive migration of people to different urban centres in Nepal, has resulted in increased demand for furniture, domestic manufacturers have not been able to meet it. “Decline in domestic production has not stopped people from buying furniture and hence, traders are increasingly depending on imported products to meet the market demand,” Joshi added.</div> <div> </div> <div> Manufacturers allege that lack of skilled craftsmen, power cuts, non-availability of raw materials and absence of a favourable government policy are major reasons for the decline of domestic production. They stress on the need of a proper government mechanism to boost domestic furniture industry while pointing to nation’s volatile political environment as a crucial factor contributing to decline in their business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems and Challenges </strong></span></div> <div> Lack of qualified labour and skilled manpower is another reason why the industry is diminishing here in Nepal. Traders said that the trend of youth going abroad has created labour scarcity. If the gap is not filled sooner, this will result in bigger problems. </div> <div> </div> <div> Similarly, lack of big factories which can produce furniture on large scaled and compete with products imported from China and other nations, in terms of production, price, and design has diminished market for domestic products. “We are manufacturing in small quantities using traditional methods and that is not really sufficient to survive the competition,” Sharda said. He feels that domestic furniture manufacturing industry needs technological improvement to survive the competition. </div> <div> </div> <div> Like other industries, this industry also has been hit power shortage. “We are also suffering from long hours of power cut. Power cut has hindered us to supply products on stipulated time. This has been a great set back for our business,” Shrestha complained. </div> <div> Mushrooming furniture trading shops and cut throat competition are a threat to the business.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Future Prospects</strong></span></div> <div> An investment of Rs 20 billion has already been made in the domestic furniture and furnishing industry, Joshi said while informing that they “are working on a strategy to approach the government and acquire its attention towards the welfare of the industry.” </div> <div> </div> <div> Apart from the cultural and historical significances, traditional furniture industry can also be a considerable boost to the economy of the country, if it is runs smoothly. Joshi said that the domestic manufacturers, if encouraged and treated properly, have the potential to export, while fulfilling local demand. </div> <div> </div> <div> “The furniture and furnishing industry can look for better days ahead as its products have positioned themselves as people’s necessities rather than luxury,” claimed Joshi. He said that housing and real estate, residences, office complexes, hotels and restaurants, schools and colleges and development projects are booming market for the furniture and furnishing industry.</div> <div> </div> <div> <img alt="Focus News" src="/userfiles/images/fcs%20(Copy).jpg" style="width: 550px; height: 418px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'With changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house.', 'sortorder' => '2054', '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' => '2210', 'article_category_id' => '113', 'title' => 'US Dollar Exchange At Local Market (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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', 'sortorder' => '2053', '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' => '2209', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2052', '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' => '2208', 'article_category_id' => '111', 'title' => 'Top Ten Gainers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2051', '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' => '2207', 'article_category_id' => '110', 'title' => 'Top Ten Losers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2050', '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' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', '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' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', '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' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', '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' => '2202', 'article_category_id' => '151', 'title' => 'IIM-Ahmedabad Among Top 39 Elite B-Schools In The World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">I</span><span style="font-size: 12px;">IM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.</span></div> <div> </div> <div> The report, published by webportal - www.TopMBA.com - highlights four distinct categories of business school in terms of employer recognition: Elite Global, Emerging Global, Elite Regional, Emerging Regional. It said that B-school graduates from India are the world’s most academically distinguished.</div> <div> </div> <div> Students at Indian Institute of Management, Bangalore (780) and Indian Institute of Management, Ahmedabad (767) have the highest average GMAT scores in the world, well ahead of the leading US institution Stanford (730), and INSEAD in Europe (704), the report said.</div> <div> </div> <div> The ratings provide a detailed overview of the most popular business schools around the world, based on details provided to QS by over 3,300 employers who actively recruit MBA graduates. The report is based on 4,318 responses from recruiters, making it the largest survey of its kind.</div> <div> </div> <div> Of the 39 leading institutions to make the Elite Global category, 15 are from the US, Canada (7), UK (3), Spain (3), France and Singapore 2 each, and one each from India, Germany, Switzerland, Italy, Ireland and Denmark.</div> <div> </div> <div> Apart from IIM Ahmedabad, two Asian B-Schools which have made in to the Elite Global category are INSEAD Singapore and NUS Business School, National University of Singapore.<em> (ibnlive.in.com)</em></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'IIM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.', 'sortorder' => '2046', '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' => '2201', 'article_category_id' => '156', 'title' => 'More Proof That Hiring And Dating Aren’t So Different', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rachel Emma Silverman</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.</span></div> <div> </div> <div> Turns out, hiring managers at elite professional firms really do tend to evaluate candidates as if they were potential romantic partners or new friends, according to recent research by Kellogg management professor Lauren Rivera.</div> <div> </div> <div> The Kellogg study found that employers tend to evaluate candidates on whether they’d be likely to hang out with them, rather than strictly focusing on a person’s qualifications for the job.</div> <div> </div> <div> Even dating site eHarmony is getting into the recruiting game. The company is developing a recruiting site to more effectively match companies to candidates, says Grant Langston, vice president of customer experience.</div> <div> </div> <div> “Where do people not experience a lot of compatibility?” says Mr. Langston. “One of the first things we came up with was jobs we are currently trying to isolate what are the things that make an employee a good fit.” The product, which is in the early stages, may come out next year.</div> <div> </div> <div> According to the Kellogg research, professionals involved in hiring placed more emphasis on how comfortable or excited they were about candidates than on applicants’ cognitive or technical skills.</div> <div> </div> <div> That doesn’t mean employers hire unqualified workers, Rivera says. But, she adds, her findings show that “employers hire in a manner more closely resembling the choice of friends or romantic partners” than what we might expect. Hiring managers pay especially close attention to criteria such as similar education level and schools attended, shared leisure pursuits and a mutual “spark,”— factors similar to those people use when choosing a friend or mate.</div> <div> </div> <div> In her study, comprised of 120 interviews with hiring professionals at elite U.S. investment banks, law firms and consulting firms, more than half of the hiring professionals ranked “cultural fit”—similarity of background, interests and self-presentation—as the most important factor in an interview.</div> <div> </div> <div> The danger, of course, is that workers from cultural backgrounds that don’t match their evaluators’ backgrounds may be at a disadvantage when they’re up for a job. Especially when it comes to elite jobs, people who come from lower socioeconomic backgrounds might not get the same consideration a well-off candidate would, Rivera says. (The Wall Street Journal)</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-16', '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 back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.', 'sortorder' => '2045', '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' => '2199', 'article_category_id' => '144', 'title' => 'Now Prove Your Salt', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">econd Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not. </span></div> <div> </div> <div> Most of our leaders are ‘populist’ and accountability is what they failed to demonstrate in the past. Most of the public have doubts that they might repeat the same mistake even in the days to come. They prepare manifesto as publicity material for election but fail to implement the commitments made in them after they get into power. </div> <div> </div> <div> Unlike previous elections, political parties in this CA election hav emphasized on economic agenda that have kindled new hopes and aspirations to the private sector. High turnout of votes for parties supporting liberal economy is evident of the people’s distaste for politics of confrontation and conspiracy. Sweeping victory of traditionally moderate political parties that favor economic freedom and civil liberties has provided grounds to private sector to look forward for reforms in national economic policies and state initiatives that will boost country’s economic status. </div> <div> </div> <div> First, of these measures to be taken by political parties should be putting their efforts to provision for complete ‘economic freedom’ in the new constitution. Secondly, they should stick to their commitment of making the country a ‘strike-free’ zone. It is high time for all parties to come together and implement measures that will help in gaining the objective of making Nepal a country with power surplus within few years. They should promote productive sector and bring policies to propel export from Nepal. </div> <div> </div> <div> In spite of lamenting for resource crunch, parties should realize the issue of ‘resource curse’ and should come up with collectively effort to overcome hurdles in resolving the issue. They should work jointly in clearing ambiguities and obstacles in existing policies and programs and introduce relevant and essential policies to develop hydro electricity, infrastructure, agriculture, tourism and other economic sectors included in their election manifesto. </div> <div> </div> <div> It’s however is not easy task for leaders who speak just to lure voters. For instance, Rameshwar Phuyal of CPN UML had pledged to double senior citizens allowances, if UML would form a government. His remark is representative of some politician’s distributive mindset in the backdrop of declining capital expenditure. </div> <div> </div> <div> Translating promises into action might be tricky to political parties especially when the nation is making its way through transition. Despite such scenario, will power among political party leaders to move ahead in consensus for common national development objectives is a commitment made by all political parties, and it’s high time they stick to it.</div> <div> </div> <div> Political parties should work for the development of the entire nation instead of catering and caring needs of their party and party cadres. They should not introduce distributive budget and avoid nepotism and favoritism. </div> <div> </div> <div> Their failure to do so, will result in the rise of left or right extremism in Nepal, as in the past.</div>', 'published' => true, 'created' => '2013-12-02', 'modified' => '2013-12-03', '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' => 'Second Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not.', 'sortorder' => '2044', '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 = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2215', 'article_category_id' => '99', 'title' => 'Chaudhary Wins Everest Golf Challenge', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="Everest Golf Challenge" src="/userfiles/images/trsm2%20(Copy).jpg" style="width: 550px; height: 155px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> S<span style="font-size: 12px;">uryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine. Rabindra Man Shrestha came second on the count back with 35 points. Shrestha, who is also NPGA President, scored 16 on the front nine and 19 on the back nine. Wangchen Dhondup won the best gross award after producing a score card of 33 gross points.</span></div> <div> </div> <div> Team India comprising of Prem Sachdev, Prabhat Sinh and Joseph Nathan won the team event with 69 points. Nepali team of Purna Bahadur Rai, Lobsang Tashi and Tendi Sherpa finished second with 68 points. Two best scores were counted for team score. KNS Thapa bagged the best senior golfer award with 33 stableford points. Hridesh Kumar Singh claimed most birdies with four birdies, Suhrid Ghimire won the closest to the pin award and Rene Vijay Einhaus won the longest drive award. </div> <div> </div> <div> The tournament sponsored by Everest Bank Limited was played under stableford format with 3/4 handicap. There was individual and team event in the competition. A total of 92 players took part in the tournament. There were five teams from Malaysia and Nepal, and a team each from South Korea and India. </div> <div> </div> <div> CPN UML Leader KP Sharma Oli, CEO of Everest Bank AK Aluwalia, President of Gokarna Golf Club Suhrid Ghimire, and Advisor of Malaysia Nepal Business Council Tan Sri Aseh gave away the prizes to the winners.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Suryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine.', 'sortorder' => '2058', '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' => '2214', 'article_category_id' => '99', 'title' => 'Ford And Gyanodaya Organize November Festival 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="November Festival 2013" src="/userfiles/images/trsm1%20(Copy).jpg" style="width: 550px; height: 203px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> F<span style="font-size: 12px;">ord in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival. </span></div> <div> </div> <div> Ford, with its association, had on display its popular models and also offered of special offer for teachers. The company also provided car exchange facility with on the spot valuation and exchange bonus. </div> <div> </div> <div> The food section in the Festival had many local and international delicacies, including Newari dishes, Burmese noodles and American style fast food among others. There were numerous games in the festival like wheel of fortune, hoopla, car race, lucky dip, treasure hunt and lucky seven. There were musical performances by various local and international artists.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Ford in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival.', 'sortorder' => '2057', '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' => '2213', 'article_category_id' => '99', 'title' => 'Nepal Bags Best Decorated International Stall In IITM 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="Nepal Tourism Board" src="/userfiles/images/trsm%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 189px;" />N</span><span style="font-size: 12px;">epal Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013. The three-day event highlighted Nepal through Lord Shiva, Mount Everest and as birthplace of Lord Buddha, and showcased diverse tourism attractions offering special packages for travellers of Pune. </span></div> <div> </div> <div> According to NTB, Nepal’s stall was located in the most prime location at the entrance and was the point of attraction for visitors. At a special ceremony conducted by the organizers during the IITM 2013 Awards Night, Nepal was recognized and honoured with the ‘Best Decorated International Stall’ award. </div> <div> </div> <div> The event conveyed the message that Nepal is not just the nearest international destination with value for money but also a gateway to various Himalayan treks in Nepal and also to Mount Kailash in Tibet. Besides the pilgrimage tours of Pashupatinath and Muktinath, city tours of Kathmandu , Pokhara and Chitwan, Nepal is increasingly becoming the nearest international trekking destination for the Pune youths, college and university students. While Indians have taken overseas travel as a part of their lifestyle, Nepal with easy access by air and land has succeeded in receiving a good number of Indian visitors. </div> <div> </div> <div> NTB’s Travel Partners of IITM 2013 were Gangotri Tours and Travels Pvt Ltd, Kailash Journeys Pvt Ltd, Kathmandu Tours and Travels Pvt Ltd, Mega Adventures International Pvt Ltd, and Peak Promotion Pvt Ltd. </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013.', 'sortorder' => '2056', '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' => '2212', 'article_category_id' => '152', 'title' => 'Focus Briefs (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>SB Furniture Introduces New Products</strong></span></div> <div> SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers.</div> <div> </div> <div> The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.</div> <div> </div> <div> He added that the company has introduced products under two different categories; the first one is practical, where the furniture items are more focused on the utility factor catering to the demands of people with medium level earnings, while the design oriented furniture items are specifically designed for style and cater to the demands of the premium product seeker.</div> <div> </div> <div> The current range of bedrooms at SB Furniture have prices starting from Rs 38,000, sofa sets starting from Rs 70,000, dining set from Rs 100,000 and wardrobes from around Rs 60,000. Joshi said that SB is a Thailand based, most sought after furniture brand and all its products come directly to Nepal for sale.</div> <div> </div> <div> The company claims that its products are among the most trusted one in the niche and that its brand is synonymous with quality. “Ever since we started dealing in SB Furniture, we haven’t received any serious complains from the customers.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Furniture Care and Maintenance</strong></span></div> <div> Here are some useful tips for taking care of these and other brands exclusive furniture: </div> <div> </div> <div> •A dry or slightly damp cloth will work well to clean your furniture. </div> <div> </div> <div> •Do not use spray polish, silicon waxes, or lemon oil of any kind on furniture as it will dull the finish. Usually a high quality wax will work well in maintaining a good luster and will help seal the wood against potential stains. </div> <div> </div> <div> •Apply a thin film of wax to the surface, working a small area at one time. Always rub in the same direction as the grain, then buff with a soft, dry cloth. </div> <div> </div> <div> •Frequent dusting of your furniture will help maintain the luster of both oil and lacquer finishes. Use a dry, soft cotton cloth.</div> <div> </div> <div> •Use common sense and don’t place wet or hot objects on your wooden furniture. Use trivets and coasters to prevent damage, and wipe up spills promptly.</div> <div> </div> <div> •Excessive or prolonged exposure to sunlight can fade the color of your furniture and dry the wood. Use window coverings or tablecloths to prevent daily direct exposure of your furniture to the sun. If you leave objects such as candleholders or vases on an uncovered wood surface, rotate them regularly to prevent dark or light spots.</div> <div> </div> <div> •As part of natural aging, your wood furniture will typically develop a beautiful patina and undergo color changes, depending on the wood. Cherry typically darkens while walnut tends to lighten with time. Pine, alder and red oak tend to turn a golden color as they age.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers. The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.', 'sortorder' => '2055', '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' => '2211', 'article_category_id' => '153', 'title' => 'Furniture From Abroad Abounds', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Suraksha Adhikari </strong></div> <div> </div> <div> W<span style="font-size: 12px;">ith changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house. As designer furniture is becoming synonymous to status statement, higher standards and better comfort is sought. This has led to the rise in import of international designer furniture brands. </span></div> <div> </div> <div> “Nepali market is gradually moving towards imported furniture as they are cheaper by almost 50 per cent in comparison to local wood furniture. Affordable pricing, attractive looks and suitability for interior design and adjustable fittings are reasons of growing preference for imported furniture,” Surendra Kumar Sharda, Senior Vice-President of Nepal Furniture and Furnishing Association (NFFA), said while elaborating current trend in the sector. </div> <div> </div> <div> Though demand for designer furniture is increasing, a lack of investment in producing such furnitures within the nation is seen. “Accepting the fact that furniture industry is moving towards greater dependency on import in the last five years, industrialists are not interested in taking risk by investing and establishing manufacturing units. For them imported readymade furniture trading is an easy and secured means of doing business,” Sharda said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Customer Preferences</strong></span></div> <div> Demand for imported furniture in the Kathmandu valley has been rising significantly with consumers getting more conscious about creating a unique look for their homes. The shift in preference can be measured by the fact that more than four dozen furniture stores dealing in imported products have been trading in the valley.</div> <div> </div> <div> Furniture stores which started with a limited product range now are expanding their entire stock ranging from office furniture, to kid’s special furniture along with sofa sets, TV cabinets and bedroom sets, to name a few. Apart from wood, modern furniture use various materials like steel, plastic, tubular steel, leather straps, laminates, glasses, molded plywood and synthetic wood to give a stylish finish and light weight.</div> <div> </div> <div> Both local and Chinese furniture, have their own separate markets with their individual advantages and disadvantages. Locally made furniture is preferred for its durability and quality of wood. But when it comes to design, decorative options, purpose-fulfillment and affordability the market swings to Chinese furniture. </div> <div> </div> <div> Responding to varied backgrounds and demands of customers, some furniture traders trade domestic and imported furniture. Their catch remains to retain customers by catering to their specific demands. Suresh Shrestha, Managing Director of Bira Furniture, informs that they include both local as well as imported furniture in their showroom, to fulfill demands of the varied customers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Variety in Furniture</strong></span></div> <div> Furniture stores across the nation today offer variety in furniture depending on custom needs, demands and pocket. With an assorted variety of designer furniture available at various price range, they are making difference when designing a house. No matter how low the budget is, these furniture still provide an unique and stylish look. </div> <div> </div> <div> “Various factors including availability of numerous designs and superior finishing has helped in raising demand for imported furniture,” Shrestha said. Apart from this, competitive prices have played a crucial role in increasing sales of imported furniture, he added. </div> <div> </div> <div> “Demand for local furniture seems a little down since the last two years. Possible factors contributing in it are lower growth in land transactions and real estate development, gradual influx and growing popularity of Chinese furniture in the market,” Gobinda Timilsina, a Sales Representative at Varieties Traders, Kumaripati, said. “The government is not sensitive towards the problem faced by the furniture industry. Despite huge scope, lack of everything is hitting the domestic furniture industry.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Domestic Furniture </strong></span></div> <div> Nepali furniture industry uses saal, sisau, utis, and mango wood for the production of furniture. Other raw materials are imported from India, China and Malaysia. Size, quality and design determine the price. There are different varieties of furniture available in the market from sofas and beds to designate cupboards and office tables. The price range of local made sofa set starts from Rs 8,000 to Rs 46,000; cupboard starts from Rs 9,000. Prices differ depending upon length, height and style. </div> <div> </div> <div> Traders said that the country’s furniture market is worth around Rs 1 billion annually and that the industry is growing by around 25 percent. Most of the imported furniture available in the market comes from China. Traders said that Chinese furniture accounts for more than 80 percent of the imported furniture market. Furniture from places like India, Thailand, Indonesia and Malaysia too are popular in the domestic market. As for premium products, most are imported from Europe.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imported Products </strong></span></div> <div> Around 60 per cent of the furniture and furnishing products available in Nepal are imported. The imported goods include flooring, furnishing (except carpets), furniture and décor items. “While imports have swelled over the years, domestic production is declining consistently,” Kabindra Joshi, General Secretary of NFFA, said. </div> <div> </div> <div> While overpopulation, triggered due to excessive migration of people to different urban centres in Nepal, has resulted in increased demand for furniture, domestic manufacturers have not been able to meet it. “Decline in domestic production has not stopped people from buying furniture and hence, traders are increasingly depending on imported products to meet the market demand,” Joshi added.</div> <div> </div> <div> Manufacturers allege that lack of skilled craftsmen, power cuts, non-availability of raw materials and absence of a favourable government policy are major reasons for the decline of domestic production. They stress on the need of a proper government mechanism to boost domestic furniture industry while pointing to nation’s volatile political environment as a crucial factor contributing to decline in their business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems and Challenges </strong></span></div> <div> Lack of qualified labour and skilled manpower is another reason why the industry is diminishing here in Nepal. Traders said that the trend of youth going abroad has created labour scarcity. If the gap is not filled sooner, this will result in bigger problems. </div> <div> </div> <div> Similarly, lack of big factories which can produce furniture on large scaled and compete with products imported from China and other nations, in terms of production, price, and design has diminished market for domestic products. “We are manufacturing in small quantities using traditional methods and that is not really sufficient to survive the competition,” Sharda said. He feels that domestic furniture manufacturing industry needs technological improvement to survive the competition. </div> <div> </div> <div> Like other industries, this industry also has been hit power shortage. “We are also suffering from long hours of power cut. Power cut has hindered us to supply products on stipulated time. This has been a great set back for our business,” Shrestha complained. </div> <div> Mushrooming furniture trading shops and cut throat competition are a threat to the business.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Future Prospects</strong></span></div> <div> An investment of Rs 20 billion has already been made in the domestic furniture and furnishing industry, Joshi said while informing that they “are working on a strategy to approach the government and acquire its attention towards the welfare of the industry.” </div> <div> </div> <div> Apart from the cultural and historical significances, traditional furniture industry can also be a considerable boost to the economy of the country, if it is runs smoothly. Joshi said that the domestic manufacturers, if encouraged and treated properly, have the potential to export, while fulfilling local demand. </div> <div> </div> <div> “The furniture and furnishing industry can look for better days ahead as its products have positioned themselves as people’s necessities rather than luxury,” claimed Joshi. He said that housing and real estate, residences, office complexes, hotels and restaurants, schools and colleges and development projects are booming market for the furniture and furnishing industry.</div> <div> </div> <div> <img alt="Focus News" src="/userfiles/images/fcs%20(Copy).jpg" style="width: 550px; height: 418px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'With changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house.', 'sortorder' => '2054', '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' => '2210', 'article_category_id' => '113', 'title' => 'US Dollar Exchange At Local Market (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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', 'sortorder' => '2053', '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' => '2209', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2052', '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' => '2208', 'article_category_id' => '111', 'title' => 'Top Ten Gainers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2051', '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' => '2207', 'article_category_id' => '110', 'title' => 'Top Ten Losers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2050', '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' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', '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' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', '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' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', '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' => '2202', 'article_category_id' => '151', 'title' => 'IIM-Ahmedabad Among Top 39 Elite B-Schools In The World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">I</span><span style="font-size: 12px;">IM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.</span></div> <div> </div> <div> The report, published by webportal - www.TopMBA.com - highlights four distinct categories of business school in terms of employer recognition: Elite Global, Emerging Global, Elite Regional, Emerging Regional. It said that B-school graduates from India are the world’s most academically distinguished.</div> <div> </div> <div> Students at Indian Institute of Management, Bangalore (780) and Indian Institute of Management, Ahmedabad (767) have the highest average GMAT scores in the world, well ahead of the leading US institution Stanford (730), and INSEAD in Europe (704), the report said.</div> <div> </div> <div> The ratings provide a detailed overview of the most popular business schools around the world, based on details provided to QS by over 3,300 employers who actively recruit MBA graduates. The report is based on 4,318 responses from recruiters, making it the largest survey of its kind.</div> <div> </div> <div> Of the 39 leading institutions to make the Elite Global category, 15 are from the US, Canada (7), UK (3), Spain (3), France and Singapore 2 each, and one each from India, Germany, Switzerland, Italy, Ireland and Denmark.</div> <div> </div> <div> Apart from IIM Ahmedabad, two Asian B-Schools which have made in to the Elite Global category are INSEAD Singapore and NUS Business School, National University of Singapore.<em> (ibnlive.in.com)</em></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'IIM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.', 'sortorder' => '2046', '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' => '2201', 'article_category_id' => '156', 'title' => 'More Proof That Hiring And Dating Aren’t So Different', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rachel Emma Silverman</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.</span></div> <div> </div> <div> Turns out, hiring managers at elite professional firms really do tend to evaluate candidates as if they were potential romantic partners or new friends, according to recent research by Kellogg management professor Lauren Rivera.</div> <div> </div> <div> The Kellogg study found that employers tend to evaluate candidates on whether they’d be likely to hang out with them, rather than strictly focusing on a person’s qualifications for the job.</div> <div> </div> <div> Even dating site eHarmony is getting into the recruiting game. The company is developing a recruiting site to more effectively match companies to candidates, says Grant Langston, vice president of customer experience.</div> <div> </div> <div> “Where do people not experience a lot of compatibility?” says Mr. Langston. “One of the first things we came up with was jobs we are currently trying to isolate what are the things that make an employee a good fit.” The product, which is in the early stages, may come out next year.</div> <div> </div> <div> According to the Kellogg research, professionals involved in hiring placed more emphasis on how comfortable or excited they were about candidates than on applicants’ cognitive or technical skills.</div> <div> </div> <div> That doesn’t mean employers hire unqualified workers, Rivera says. But, she adds, her findings show that “employers hire in a manner more closely resembling the choice of friends or romantic partners” than what we might expect. Hiring managers pay especially close attention to criteria such as similar education level and schools attended, shared leisure pursuits and a mutual “spark,”— factors similar to those people use when choosing a friend or mate.</div> <div> </div> <div> In her study, comprised of 120 interviews with hiring professionals at elite U.S. investment banks, law firms and consulting firms, more than half of the hiring professionals ranked “cultural fit”—similarity of background, interests and self-presentation—as the most important factor in an interview.</div> <div> </div> <div> The danger, of course, is that workers from cultural backgrounds that don’t match their evaluators’ backgrounds may be at a disadvantage when they’re up for a job. Especially when it comes to elite jobs, people who come from lower socioeconomic backgrounds might not get the same consideration a well-off candidate would, Rivera says. (The Wall Street Journal)</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-16', '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 back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.', 'sortorder' => '2045', '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' => '2199', 'article_category_id' => '144', 'title' => 'Now Prove Your Salt', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">econd Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not. </span></div> <div> </div> <div> Most of our leaders are ‘populist’ and accountability is what they failed to demonstrate in the past. Most of the public have doubts that they might repeat the same mistake even in the days to come. They prepare manifesto as publicity material for election but fail to implement the commitments made in them after they get into power. </div> <div> </div> <div> Unlike previous elections, political parties in this CA election hav emphasized on economic agenda that have kindled new hopes and aspirations to the private sector. High turnout of votes for parties supporting liberal economy is evident of the people’s distaste for politics of confrontation and conspiracy. Sweeping victory of traditionally moderate political parties that favor economic freedom and civil liberties has provided grounds to private sector to look forward for reforms in national economic policies and state initiatives that will boost country’s economic status. </div> <div> </div> <div> First, of these measures to be taken by political parties should be putting their efforts to provision for complete ‘economic freedom’ in the new constitution. Secondly, they should stick to their commitment of making the country a ‘strike-free’ zone. It is high time for all parties to come together and implement measures that will help in gaining the objective of making Nepal a country with power surplus within few years. They should promote productive sector and bring policies to propel export from Nepal. </div> <div> </div> <div> In spite of lamenting for resource crunch, parties should realize the issue of ‘resource curse’ and should come up with collectively effort to overcome hurdles in resolving the issue. They should work jointly in clearing ambiguities and obstacles in existing policies and programs and introduce relevant and essential policies to develop hydro electricity, infrastructure, agriculture, tourism and other economic sectors included in their election manifesto. </div> <div> </div> <div> It’s however is not easy task for leaders who speak just to lure voters. For instance, Rameshwar Phuyal of CPN UML had pledged to double senior citizens allowances, if UML would form a government. His remark is representative of some politician’s distributive mindset in the backdrop of declining capital expenditure. </div> <div> </div> <div> Translating promises into action might be tricky to political parties especially when the nation is making its way through transition. Despite such scenario, will power among political party leaders to move ahead in consensus for common national development objectives is a commitment made by all political parties, and it’s high time they stick to it.</div> <div> </div> <div> Political parties should work for the development of the entire nation instead of catering and caring needs of their party and party cadres. They should not introduce distributive budget and avoid nepotism and favoritism. </div> <div> </div> <div> Their failure to do so, will result in the rise of left or right extremism in Nepal, as in the past.</div>', 'published' => true, 'created' => '2013-12-02', 'modified' => '2013-12-03', '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' => 'Second Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not.', 'sortorder' => '2044', '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 = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine. Rabindra Man Shrestha came second on the count back with 35 points. Shrestha, who is also NPGA President, scored 16 on the front nine and 19 on the back nine. Wangchen Dhondup won the best gross award after producing a score card of 33 gross points.</span></div> <div> </div> <div> Team India comprising of Prem Sachdev, Prabhat Sinh and Joseph Nathan won the team event with 69 points. Nepali team of Purna Bahadur Rai, Lobsang Tashi and Tendi Sherpa finished second with 68 points. Two best scores were counted for team score. KNS Thapa bagged the best senior golfer award with 33 stableford points. Hridesh Kumar Singh claimed most birdies with four birdies, Suhrid Ghimire won the closest to the pin award and Rene Vijay Einhaus won the longest drive award. </div> <div> </div> <div> The tournament sponsored by Everest Bank Limited was played under stableford format with 3/4 handicap. There was individual and team event in the competition. A total of 92 players took part in the tournament. There were five teams from Malaysia and Nepal, and a team each from South Korea and India. </div> <div> </div> <div> CPN UML Leader KP Sharma Oli, CEO of Everest Bank AK Aluwalia, President of Gokarna Golf Club Suhrid Ghimire, and Advisor of Malaysia Nepal Business Council Tan Sri Aseh gave away the prizes to the winners.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Suryansh Chaudhary has won the Everest Golf Challenge title by accumulating 36 stableford points at Gokarna Golf Club on Saturday. Chaudhary, playing of 11 handicap scored 19 points on the front nine and 17 on the back nine.', 'sortorder' => '2058', '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' => '2214', 'article_category_id' => '99', 'title' => 'Ford And Gyanodaya Organize November Festival 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="November Festival 2013" src="/userfiles/images/trsm1%20(Copy).jpg" style="width: 550px; height: 203px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> F<span style="font-size: 12px;">ord in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival. </span></div> <div> </div> <div> Ford, with its association, had on display its popular models and also offered of special offer for teachers. The company also provided car exchange facility with on the spot valuation and exchange bonus. </div> <div> </div> <div> The food section in the Festival had many local and international delicacies, including Newari dishes, Burmese noodles and American style fast food among others. There were numerous games in the festival like wheel of fortune, hoopla, car race, lucky dip, treasure hunt and lucky seven. There were musical performances by various local and international artists.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Ford in association with Gyanodaya International Residential School organized November Festival 2013 on Saturday at the school premises in Khokana. November Festival is an annual event organized by Gyanodaya School that is accompanied with food festival, various exhibitions and music festival.', 'sortorder' => '2057', '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' => '2213', 'article_category_id' => '99', 'title' => 'Nepal Bags Best Decorated International Stall In IITM 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;"><img alt="Nepal Tourism Board" src="/userfiles/images/trsm%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 189px;" />N</span><span style="font-size: 12px;">epal Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013. The three-day event highlighted Nepal through Lord Shiva, Mount Everest and as birthplace of Lord Buddha, and showcased diverse tourism attractions offering special packages for travellers of Pune. </span></div> <div> </div> <div> According to NTB, Nepal’s stall was located in the most prime location at the entrance and was the point of attraction for visitors. At a special ceremony conducted by the organizers during the IITM 2013 Awards Night, Nepal was recognized and honoured with the ‘Best Decorated International Stall’ award. </div> <div> </div> <div> The event conveyed the message that Nepal is not just the nearest international destination with value for money but also a gateway to various Himalayan treks in Nepal and also to Mount Kailash in Tibet. Besides the pilgrimage tours of Pashupatinath and Muktinath, city tours of Kathmandu , Pokhara and Chitwan, Nepal is increasingly becoming the nearest international trekking destination for the Pune youths, college and university students. While Indians have taken overseas travel as a part of their lifestyle, Nepal with easy access by air and land has succeeded in receiving a good number of Indian visitors. </div> <div> </div> <div> NTB’s Travel Partners of IITM 2013 were Gangotri Tours and Travels Pvt Ltd, Kailash Journeys Pvt Ltd, Kathmandu Tours and Travels Pvt Ltd, Mega Adventures International Pvt Ltd, and Peak Promotion Pvt Ltd. </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 Tourism Board (NTB) along with five travel trade companies from Nepal participated in India International Travel Mart (IITM) in Maharashtra, India from 22-24 November 2013.', 'sortorder' => '2056', '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' => '2212', 'article_category_id' => '152', 'title' => 'Focus Briefs (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>SB Furniture Introduces New Products</strong></span></div> <div> SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers.</div> <div> </div> <div> The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.</div> <div> </div> <div> He added that the company has introduced products under two different categories; the first one is practical, where the furniture items are more focused on the utility factor catering to the demands of people with medium level earnings, while the design oriented furniture items are specifically designed for style and cater to the demands of the premium product seeker.</div> <div> </div> <div> The current range of bedrooms at SB Furniture have prices starting from Rs 38,000, sofa sets starting from Rs 70,000, dining set from Rs 100,000 and wardrobes from around Rs 60,000. Joshi said that SB is a Thailand based, most sought after furniture brand and all its products come directly to Nepal for sale.</div> <div> </div> <div> The company claims that its products are among the most trusted one in the niche and that its brand is synonymous with quality. “Ever since we started dealing in SB Furniture, we haven’t received any serious complains from the customers.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Furniture Care and Maintenance</strong></span></div> <div> Here are some useful tips for taking care of these and other brands exclusive furniture: </div> <div> </div> <div> •A dry or slightly damp cloth will work well to clean your furniture. </div> <div> </div> <div> •Do not use spray polish, silicon waxes, or lemon oil of any kind on furniture as it will dull the finish. Usually a high quality wax will work well in maintaining a good luster and will help seal the wood against potential stains. </div> <div> </div> <div> •Apply a thin film of wax to the surface, working a small area at one time. Always rub in the same direction as the grain, then buff with a soft, dry cloth. </div> <div> </div> <div> •Frequent dusting of your furniture will help maintain the luster of both oil and lacquer finishes. Use a dry, soft cotton cloth.</div> <div> </div> <div> •Use common sense and don’t place wet or hot objects on your wooden furniture. Use trivets and coasters to prevent damage, and wipe up spills promptly.</div> <div> </div> <div> •Excessive or prolonged exposure to sunlight can fade the color of your furniture and dry the wood. Use window coverings or tablecloths to prevent daily direct exposure of your furniture to the sun. If you leave objects such as candleholders or vases on an uncovered wood surface, rotate them regularly to prevent dark or light spots.</div> <div> </div> <div> •As part of natural aging, your wood furniture will typically develop a beautiful patina and undergo color changes, depending on the wood. Cherry typically darkens while walnut tends to lighten with time. Pine, alder and red oak tend to turn a golden color as they age.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'SB Furniture, one of the noted names in the country’s furniture and furnishing market, has introduced a line-up of new products to attract potential customers. The company has unveiled a wide range of bedroom sets, sofas, dining sets, wardrobes and children’s furniture, among others. “Dashain is the time when the market witnesses at least two-fold growth. We have come up with the latest product line-ups too woo the furniture buyers,” Sudarshan Joshi, Director of SB Furniture, said.', 'sortorder' => '2055', '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' => '2211', 'article_category_id' => '153', 'title' => 'Furniture From Abroad Abounds', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Suraksha Adhikari </strong></div> <div> </div> <div> W<span style="font-size: 12px;">ith changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house. As designer furniture is becoming synonymous to status statement, higher standards and better comfort is sought. This has led to the rise in import of international designer furniture brands. </span></div> <div> </div> <div> “Nepali market is gradually moving towards imported furniture as they are cheaper by almost 50 per cent in comparison to local wood furniture. Affordable pricing, attractive looks and suitability for interior design and adjustable fittings are reasons of growing preference for imported furniture,” Surendra Kumar Sharda, Senior Vice-President of Nepal Furniture and Furnishing Association (NFFA), said while elaborating current trend in the sector. </div> <div> </div> <div> Though demand for designer furniture is increasing, a lack of investment in producing such furnitures within the nation is seen. “Accepting the fact that furniture industry is moving towards greater dependency on import in the last five years, industrialists are not interested in taking risk by investing and establishing manufacturing units. For them imported readymade furniture trading is an easy and secured means of doing business,” Sharda said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Customer Preferences</strong></span></div> <div> Demand for imported furniture in the Kathmandu valley has been rising significantly with consumers getting more conscious about creating a unique look for their homes. The shift in preference can be measured by the fact that more than four dozen furniture stores dealing in imported products have been trading in the valley.</div> <div> </div> <div> Furniture stores which started with a limited product range now are expanding their entire stock ranging from office furniture, to kid’s special furniture along with sofa sets, TV cabinets and bedroom sets, to name a few. Apart from wood, modern furniture use various materials like steel, plastic, tubular steel, leather straps, laminates, glasses, molded plywood and synthetic wood to give a stylish finish and light weight.</div> <div> </div> <div> Both local and Chinese furniture, have their own separate markets with their individual advantages and disadvantages. Locally made furniture is preferred for its durability and quality of wood. But when it comes to design, decorative options, purpose-fulfillment and affordability the market swings to Chinese furniture. </div> <div> </div> <div> Responding to varied backgrounds and demands of customers, some furniture traders trade domestic and imported furniture. Their catch remains to retain customers by catering to their specific demands. Suresh Shrestha, Managing Director of Bira Furniture, informs that they include both local as well as imported furniture in their showroom, to fulfill demands of the varied customers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Variety in Furniture</strong></span></div> <div> Furniture stores across the nation today offer variety in furniture depending on custom needs, demands and pocket. With an assorted variety of designer furniture available at various price range, they are making difference when designing a house. No matter how low the budget is, these furniture still provide an unique and stylish look. </div> <div> </div> <div> “Various factors including availability of numerous designs and superior finishing has helped in raising demand for imported furniture,” Shrestha said. Apart from this, competitive prices have played a crucial role in increasing sales of imported furniture, he added. </div> <div> </div> <div> “Demand for local furniture seems a little down since the last two years. Possible factors contributing in it are lower growth in land transactions and real estate development, gradual influx and growing popularity of Chinese furniture in the market,” Gobinda Timilsina, a Sales Representative at Varieties Traders, Kumaripati, said. “The government is not sensitive towards the problem faced by the furniture industry. Despite huge scope, lack of everything is hitting the domestic furniture industry.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Domestic Furniture </strong></span></div> <div> Nepali furniture industry uses saal, sisau, utis, and mango wood for the production of furniture. Other raw materials are imported from India, China and Malaysia. Size, quality and design determine the price. There are different varieties of furniture available in the market from sofas and beds to designate cupboards and office tables. The price range of local made sofa set starts from Rs 8,000 to Rs 46,000; cupboard starts from Rs 9,000. Prices differ depending upon length, height and style. </div> <div> </div> <div> Traders said that the country’s furniture market is worth around Rs 1 billion annually and that the industry is growing by around 25 percent. Most of the imported furniture available in the market comes from China. Traders said that Chinese furniture accounts for more than 80 percent of the imported furniture market. Furniture from places like India, Thailand, Indonesia and Malaysia too are popular in the domestic market. As for premium products, most are imported from Europe.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Imported Products </strong></span></div> <div> Around 60 per cent of the furniture and furnishing products available in Nepal are imported. The imported goods include flooring, furnishing (except carpets), furniture and décor items. “While imports have swelled over the years, domestic production is declining consistently,” Kabindra Joshi, General Secretary of NFFA, said. </div> <div> </div> <div> While overpopulation, triggered due to excessive migration of people to different urban centres in Nepal, has resulted in increased demand for furniture, domestic manufacturers have not been able to meet it. “Decline in domestic production has not stopped people from buying furniture and hence, traders are increasingly depending on imported products to meet the market demand,” Joshi added.</div> <div> </div> <div> Manufacturers allege that lack of skilled craftsmen, power cuts, non-availability of raw materials and absence of a favourable government policy are major reasons for the decline of domestic production. They stress on the need of a proper government mechanism to boost domestic furniture industry while pointing to nation’s volatile political environment as a crucial factor contributing to decline in their business. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Problems and Challenges </strong></span></div> <div> Lack of qualified labour and skilled manpower is another reason why the industry is diminishing here in Nepal. Traders said that the trend of youth going abroad has created labour scarcity. If the gap is not filled sooner, this will result in bigger problems. </div> <div> </div> <div> Similarly, lack of big factories which can produce furniture on large scaled and compete with products imported from China and other nations, in terms of production, price, and design has diminished market for domestic products. “We are manufacturing in small quantities using traditional methods and that is not really sufficient to survive the competition,” Sharda said. He feels that domestic furniture manufacturing industry needs technological improvement to survive the competition. </div> <div> </div> <div> Like other industries, this industry also has been hit power shortage. “We are also suffering from long hours of power cut. Power cut has hindered us to supply products on stipulated time. This has been a great set back for our business,” Shrestha complained. </div> <div> Mushrooming furniture trading shops and cut throat competition are a threat to the business.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Future Prospects</strong></span></div> <div> An investment of Rs 20 billion has already been made in the domestic furniture and furnishing industry, Joshi said while informing that they “are working on a strategy to approach the government and acquire its attention towards the welfare of the industry.” </div> <div> </div> <div> Apart from the cultural and historical significances, traditional furniture industry can also be a considerable boost to the economy of the country, if it is runs smoothly. Joshi said that the domestic manufacturers, if encouraged and treated properly, have the potential to export, while fulfilling local demand. </div> <div> </div> <div> “The furniture and furnishing industry can look for better days ahead as its products have positioned themselves as people’s necessities rather than luxury,” claimed Joshi. He said that housing and real estate, residences, office complexes, hotels and restaurants, schools and colleges and development projects are booming market for the furniture and furnishing industry.</div> <div> </div> <div> <img alt="Focus News" src="/userfiles/images/fcs%20(Copy).jpg" style="width: 550px; height: 418px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-09', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'With changing lifestyle and higher spending ability, demand for finest furniture, that make social statement, is growing in Nepal among city dwellers. Certain segment of urban dwellers, are increasingly getting interested in designer furniture for interior decoration of their house.', 'sortorder' => '2054', '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' => '2210', 'article_category_id' => '113', 'title' => 'US Dollar Exchange At Local Market (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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', 'sortorder' => '2053', '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' => '2209', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2052', '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' => '2208', 'article_category_id' => '111', 'title' => 'Top Ten Gainers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2051', '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' => '2207', 'article_category_id' => '110', 'title' => 'Top Ten Losers (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => '2050', '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' => '2206', 'article_category_id' => '109', 'title' => 'NIC ASIA Bank Awarded “Bank Of The Year-Nepal 2013”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">N</span><span style="font-size: 12px;">IC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title. Earlier, NIC Bank was also awarded with Bank of the Year-Nepal in 2007. The award was announced by The Banker in the UK, amid a ceremony at the Hotel Intercontinental, Park Lane, London on 28th of November. The award was presented by the Editors of The Banker Magazine and Michael Buerk-former BBC Correspondent to Lokmanya Golchha, director of the bank and Sashin Joshi, CEO. NIC ASIA Bank is amongst the largest private sector commercial banks in the country interms of capital base, balance-sheet size, branch/ATM network, customer base and employees. It has a total of 50 ATMs and 53 branches and in the verge of expanding It to 66 branches within a year.</span></div> <div> </div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'NIC ASIA Bank has received ‘Bank of the Year 2013- Nepal’ award from The Banker-Financial Times Publication, London. ‘Bank of the Year’ is the world’s longest running prestigious international banking title.', 'sortorder' => '2049', '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' => '2205', 'article_category_id' => '109', 'title' => 'Money Matters News In Brief (2 - 8 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:16px;"><strong>RBB Posts 259m Net Profit</strong></span></div> <div> Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year. During the review period, the Bank has collected Rs 92.78 billion rupees as a deposit, while floated a total of Rs 48.66 billion as a loan. The Bank has non performing loan ratio of 5.55 per cent. The Bank has been serving its customers through 147 branch offices, 10 counters, nine branchless banking and 50 ATM outlets in 64 districts. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Muktinath’s Branch at Bhairahawa</strong></span></div> <div> Muktinath Development Bank Ltd has established its new branch office at Bhairawa. The newly opened branch was jointly inaugurated by Nepal Rastra Bank’s Director Harisharan KC and Siddarthanagar Chamber of Industries and Commerce chairman Bishnu Sharma amid a programme last Monday. With this one, the Bank has now a total of 20 branches across the country. According to the press release of the Bank, the branch was established with an aim that ‘bank should reach to the people, not the people should reach to bank’. The banking service can be expanded to the Siddarthanagar municipality and its adjoining VDCs, said Bank’s Chief Executive Officer Bharat Raj Dhakal. </div> <div> </div> <div> <span style="font-size:16px;"><strong>Global IME Signs Agreement with Deniba International </strong></span></div> <div> Global IME Bank and Deniba International Exchange of the UAE have signed an agreement to conduct remittance transactions. Chief Executive Officer of the Bank Ratnaraj Bajracharya and Chief Director of Deniba, Abbas Mehamad, signed an agreement last Tuesday. As per the agreement, people in Nepal can receive money sent from all the branches of Deniba International UAE from all the 72 branches and 2,500 agents of IME. The bank had already signed agreements with Emirates India International of the UAE and Alamana Exchange of Qatar.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Civil Bank in 4th year</strong></span></div> <div> Civil Bank Ltd has entered the fourth year of its operation from last Monday. The Bank organised a blood donation programme at its corporate office premises in Kamaladi to commemorate its fourth anniversary, where 43 persons donated the blood. Likewise, the Company also distributed 230 blankets to the elderly persons at Elderly Home in Pashupatinath. According to the Bank, its paid-up capital has reached Rs 2 billion after issuing Initial Public Offering in the current fiscal year. The Bank has already signed a Memorandum of Understanding (MoU) with the Axis Development Bank and Civil Merchant Finance Company Ltd, said the Bank. The Bank has collected a total of Rs 15.70 billion rupees deposit, while extended Rs 13.96 billion loan in the first quarter of the current fiscal year. The Bank is also planning to start a micro banking service in the near future.</div> <div> </div> <div> <span style="font-size:16px;"><strong>Loan within 5 days from Reliable</strong></span></div> <div> Reliable Finance Ltd has said that it will extend the loan to its customers within 5 days of processing. According to the Company, it will provide loans for agriculture, middle and micro enterprises, educational, residential homes, and business sectors within five days. This service will be available from its central office in Kathmandu as well as Gongabu, Kalanki, Narayanghat, Lamjung, Manthali, Trishuli and Biratnagar branches, informed the Company.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'Rastriya Banijya Bank Ltd has earned Rs 259.2 million net profit in the first quarter of the current fiscal year. According to the press release of the Bank, the amount is 29 per cent higher than the net profit of the corresponding period of the last fiscal year.', 'sortorder' => '2048', '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' => '2204', 'article_category_id' => '109', 'title' => 'Banking Lending Fails Despite Swelling Deposit', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By Yagya Banjade</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that. The excessive liquidity has led Nepal Rastra Bank (NRB) to issue the Reverse Repo several times during the period of four months. </span></div> <div> </div> <div> NRB issued the latest round of reverse repo last Wednesday to absorb excess liquidity from the market. As many as 21 commercial banks have bid for securities worth Rs 23 billion for the reverse repo while the NRB’s target was Rs 10 billion only. This is the sixth times that the NRB has issued the reverse repo in the current fiscal year. Among them, NRB has accepted the bid of nine companies at 0.166 per cent weighted average discount rate. NRB went for reverse repo this time with the maturity period of 15 days. </div> <div> </div> <div> NRB spokesperson Bhaskar Mani Gnawali said that the reverse repo was the regular process of the central regulatory bank. We will decide on either to issue reverse repo or repo assessing the market situation in coming days also, added Gnawali. According to NRB, the reverse repos were targeted to ensure financial stability and good governance by curbing inflation. That may boost due to the excess liquidity. Earlier in September also, the NRB had gone for outright sale auction worth Rs 8.5 billion. With this outright sale auction, the NRB had mopped up 53.5 billion rupees from the banking system. In the earlier rounds of reverse repo, the NRB had fixed one week of maturity period. </div> <div> </div> <div> However, the loan floating has remained constant in the banks. President of Nepal Bankers Association, Rajan Singh Bhandari does not agree that the lending has not increased. “It’s not like that the lending will see a surge within a week,” said Bhandari, adding that the lending is a regular process and it would continue. He, however, admitted that the lending could not surge as comparison to the rise in the deposit amount. He attributed the excessive liquidity in the banking system to the timely budget, increase in the expenditure due to election and surge in remittance flow due to the rise of dollar price, among others. </div> <div> </div> <div> According to Economist Prof Dr Biswombher Pyakuryal, the banking lending could not rise due to the lack of improvement in the economic condition of the country as expected. The reverse repo could help in containing the inflation in the market, he said.</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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 banking system has observed excessive liquidity after banking and financial institutions (BFIs) failed to boost the investment. In last four months (between Sep 6-Nov 8). The total deposit of commercial banks has increased by Rs 42 billion, while the total loan investment has increased only by half of that.', 'sortorder' => '2047', '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' => '2202', 'article_category_id' => '151', 'title' => 'IIM-Ahmedabad Among Top 39 Elite B-Schools In The World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">I</span><span style="font-size: 12px;">IM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.</span></div> <div> </div> <div> The report, published by webportal - www.TopMBA.com - highlights four distinct categories of business school in terms of employer recognition: Elite Global, Emerging Global, Elite Regional, Emerging Regional. It said that B-school graduates from India are the world’s most academically distinguished.</div> <div> </div> <div> Students at Indian Institute of Management, Bangalore (780) and Indian Institute of Management, Ahmedabad (767) have the highest average GMAT scores in the world, well ahead of the leading US institution Stanford (730), and INSEAD in Europe (704), the report said.</div> <div> </div> <div> The ratings provide a detailed overview of the most popular business schools around the world, based on details provided to QS by over 3,300 employers who actively recruit MBA graduates. The report is based on 4,318 responses from recruiters, making it the largest survey of its kind.</div> <div> </div> <div> Of the 39 leading institutions to make the Elite Global category, 15 are from the US, Canada (7), UK (3), Spain (3), France and Singapore 2 each, and one each from India, Germany, Switzerland, Italy, Ireland and Denmark.</div> <div> </div> <div> Apart from IIM Ahmedabad, two Asian B-Schools which have made in to the Elite Global category are INSEAD Singapore and NUS Business School, National University of Singapore.<em> (ibnlive.in.com)</em></div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-03', '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' => 'IIM Ahmedabad has found a place in top 39 elite Business Schools in the world named by MBA employers, according to QS Global Business School Report 2013, which also ranked Indian MBA graduates as the world’s most academically distinguished.', 'sortorder' => '2046', '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' => '2201', 'article_category_id' => '156', 'title' => 'More Proof That Hiring And Dating Aren’t So Different', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Rachel Emma Silverman</strong></div> <div> </div> <div> T<span style="font-size: 12px;">he back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.</span></div> <div> </div> <div> Turns out, hiring managers at elite professional firms really do tend to evaluate candidates as if they were potential romantic partners or new friends, according to recent research by Kellogg management professor Lauren Rivera.</div> <div> </div> <div> The Kellogg study found that employers tend to evaluate candidates on whether they’d be likely to hang out with them, rather than strictly focusing on a person’s qualifications for the job.</div> <div> </div> <div> Even dating site eHarmony is getting into the recruiting game. The company is developing a recruiting site to more effectively match companies to candidates, says Grant Langston, vice president of customer experience.</div> <div> </div> <div> “Where do people not experience a lot of compatibility?” says Mr. Langston. “One of the first things we came up with was jobs we are currently trying to isolate what are the things that make an employee a good fit.” The product, which is in the early stages, may come out next year.</div> <div> </div> <div> According to the Kellogg research, professionals involved in hiring placed more emphasis on how comfortable or excited they were about candidates than on applicants’ cognitive or technical skills.</div> <div> </div> <div> That doesn’t mean employers hire unqualified workers, Rivera says. But, she adds, her findings show that “employers hire in a manner more closely resembling the choice of friends or romantic partners” than what we might expect. Hiring managers pay especially close attention to criteria such as similar education level and schools attended, shared leisure pursuits and a mutual “spark,”— factors similar to those people use when choosing a friend or mate.</div> <div> </div> <div> In her study, comprised of 120 interviews with hiring professionals at elite U.S. investment banks, law firms and consulting firms, more than half of the hiring professionals ranked “cultural fit”—similarity of background, interests and self-presentation—as the most important factor in an interview.</div> <div> </div> <div> The danger, of course, is that workers from cultural backgrounds that don’t match their evaluators’ backgrounds may be at a disadvantage when they’re up for a job. Especially when it comes to elite jobs, people who come from lower socioeconomic backgrounds might not get the same consideration a well-off candidate would, Rivera says. (The Wall Street Journal)</div>', 'published' => true, 'created' => '2013-12-03', 'modified' => '2013-12-16', '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 back-and-forth of job interviews often feels like dating. ‘Will they like me?’ candidates wonder. ‘Will they stick around?’ companies ask.', 'sortorder' => '2045', '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' => '2199', 'article_category_id' => '144', 'title' => 'Now Prove Your Salt', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 12px;">S</span><span style="font-size: 12px;">econd Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not. </span></div> <div> </div> <div> Most of our leaders are ‘populist’ and accountability is what they failed to demonstrate in the past. Most of the public have doubts that they might repeat the same mistake even in the days to come. They prepare manifesto as publicity material for election but fail to implement the commitments made in them after they get into power. </div> <div> </div> <div> Unlike previous elections, political parties in this CA election hav emphasized on economic agenda that have kindled new hopes and aspirations to the private sector. High turnout of votes for parties supporting liberal economy is evident of the people’s distaste for politics of confrontation and conspiracy. Sweeping victory of traditionally moderate political parties that favor economic freedom and civil liberties has provided grounds to private sector to look forward for reforms in national economic policies and state initiatives that will boost country’s economic status. </div> <div> </div> <div> First, of these measures to be taken by political parties should be putting their efforts to provision for complete ‘economic freedom’ in the new constitution. Secondly, they should stick to their commitment of making the country a ‘strike-free’ zone. It is high time for all parties to come together and implement measures that will help in gaining the objective of making Nepal a country with power surplus within few years. They should promote productive sector and bring policies to propel export from Nepal. </div> <div> </div> <div> In spite of lamenting for resource crunch, parties should realize the issue of ‘resource curse’ and should come up with collectively effort to overcome hurdles in resolving the issue. They should work jointly in clearing ambiguities and obstacles in existing policies and programs and introduce relevant and essential policies to develop hydro electricity, infrastructure, agriculture, tourism and other economic sectors included in their election manifesto. </div> <div> </div> <div> It’s however is not easy task for leaders who speak just to lure voters. For instance, Rameshwar Phuyal of CPN UML had pledged to double senior citizens allowances, if UML would form a government. His remark is representative of some politician’s distributive mindset in the backdrop of declining capital expenditure. </div> <div> </div> <div> Translating promises into action might be tricky to political parties especially when the nation is making its way through transition. Despite such scenario, will power among political party leaders to move ahead in consensus for common national development objectives is a commitment made by all political parties, and it’s high time they stick to it.</div> <div> </div> <div> Political parties should work for the development of the entire nation instead of catering and caring needs of their party and party cadres. They should not introduce distributive budget and avoid nepotism and favoritism. </div> <div> </div> <div> Their failure to do so, will result in the rise of left or right extremism in Nepal, as in the past.</div>', 'published' => true, 'created' => '2013-12-02', 'modified' => '2013-12-03', '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' => 'Second Constituent Assembly election is over and political parties are in discussion to form a new government. Public is closely watching them to see if they will implement their commitments made in their respective manifesto or not.', 'sortorder' => '2044', '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 = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
