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Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', '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' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', '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' => '2157', 'article_category_id' => '156', 'title' => 'Favoritism: Playing Out At An Office Near You', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By LAUREN WEBER</strong></div> <div> </div> <div> Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.</div> <div> </div> <div> Their conclusion might help explain the lack of diversity in the skyscrapers and industrial parks of corporate America, and assist companies and regulatory agencies in coming up with effective plans to create more heterogeneous workplaces. “It’s not about reducing hatred but reducing excess liking, and these are not the same things,” said Dan Hamermesh, an economist at the University of Texas and one of the authors of the paper.</div> <div> </div> <div> The paper gets deep into the dynamics of what we normally call discrimination, separating out hostility against an out-group (a group to which, say, a hiring manager does not belong) from preference for people similar to oneself. The authors refer to these attitudes as exophobia and endophilia.</div> <div> </div> <div> The distinction is a subtle one – at first glance, they seem like two sides of the same coin – but the authors point out that they can produce quite different real-world outcomes.</div> <div> </div> <div> For example, if a white boss is responsible for distributing $300 in bonus money to three workers, one white, one black and one Hispanic, each worker should get $100 presuming all other variables are equal. But an endophilic supervisor might give the white worker $110, leaving the other two $190, or $95 each. Meanwhile, an exophobic boss who is biased against African-Americans might give the black worker $90, leaving $210 for the others, or $105 each. “In both cases the difference in outcomes between the white and the black worker is $15, but white-Hispanic relative wages differ under each alternative,” the authors write.</div> <div> </div> <div> In an experiment conducted at the School of Business and Economics at Maastricht University, in the Netherlands, the researchers randomly revealed or concealed the names on students’ final exams, allowing some graders to infer the nationality and gender of the students. Most of the individuals were German or Dutch, and their names generally reflected their origins. Researchers also had access to the graders’ nationality and gender. In total, 1,495 exams scored by 42 graders were examined.</div> <div> </div> <div> Among those graders who’d seen the names, the authors found “substantial” favoritism by nationality, but no evidence of discrimination. A student who matched the grader’s nationality received a higher score if her name was visible, equivalent to moving from the median score to the 57th percentile. But in unmatched pairs, where discrimination would presumably be evident, grades were about the same whether names were revealed or not.</div> <div> </div> <div> On average, gender had no effect on scores. The authors point out that while discrimination still exists in some cases, favoritism is more pervasive, and suggest that anti-discrimination policies or workplace-diversity programs, which tend to focus on revealing and fighting biases, should instead be oriented toward helping workers and managers understand their unconscious preferences.</div> <div> </div> <div> “We’re so hung up on accusing people of … discriminating against others, but maybe it’s not the most efficient way to ameliorate the problem,” said Hamermesh.</div>', 'published' => true, 'created' => '2013-11-25', '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' => 'Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.', 'sortorder' => '2011', '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' => '2164', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market ( 18 -24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2010', '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' => '2163', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (18 - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2009', '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' => '2161', 'article_category_id' => '110', 'title' => 'Top Ten Losers (18 November - 24 November)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2008', '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' => '2162', 'article_category_id' => '111', 'title' => 'Top Ten Gainers ( 18 November - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2007', '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' => '2159', 'article_category_id' => '209', 'title' => 'Vacancy In Media Management', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Vacancy Final" src="/userfiles/images/Vacancy-final(1).jpg" style="height: 916px; width: 550px;" /></p>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', 'keywords' => 'Advertisement', 'description' => 'Vacancy Announcement', 'sortorder' => '2006', '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' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', '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' => '2156', 'article_category_id' => '151', 'title' => 'Best Business Schools Reach Out To West', 'sub_title' => '', 'summary' => null, 'content' => '<div> When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies. And some of them even enter capital for better higher secondary schools that provide quality education. However, times have changed. It’s not necessary to leave home in search of good education. Here are two best business schools outside the capital and that too in the western part of the nation. Anyone looking for pursuing business studies can depend on these institutions for all they need from a business school. Yes, if you are from west and looking for pursuing your career further in business sector, you don’t have to look farther than your own region. Here are the two best B-Schools of Western Region. </div> <div> </div> <div> <hr /> <p> <br /> <img alt="Tillotama College" src="/userfiles/images/tc.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></p> </div> <div> <span style="font-size:14px;"><strong>Tilottama Campus</strong></span></div> <div> Tilottama campus was established in 1996 as the first private college in Rupandehi. It has been established by a team of dedicated, experienced and enterprising academicians witha motive to cater for the growing demands of parents and students in the higher education by providing quality education. </div> <div> </div> <div> The college has been running +2 programme in science and management in affiliation with Higher Secondary Education Board (HSEB), Nepal since its establishment. Similarly, it is also running Bachelors in Business Administration (BBA) programme in affiliation with Pokhara University. It has plans to launch Masters in Business Administration (MBA) in the near future.</div> <div> </div> <div> The college has been imparting quality education since its establishment. Its +2 program has been performing exceptionally well and has maintained good results in Higher Secondary Education Board (HSEB) examinations for the past 16 years. Considering its performance, HSEB has awarded it time and again for excellence. </div> <div> </div> <div> Its graduate program has also been equally qualitative. The college feels proud on the high success rate of its BBA students who have been among some of the university toppers for several years. Many of the college pass outs have been employed in reputed corporate houses and organizations. Their recruitment and placement in those organizations speaks for the quality of its BBA program. </div> <div> </div> <div> Faculty members at the college are well experienced with a substantial network outreach with the industrial and commercial sector. These attributes has ensured that any Tillotama’s BBA course student acquire practical and theoretical education and pave way for a successful career in management.</div> <div> </div> <div> Located in the heart of Butwal, Yogikuti, the college has adequate physical infrastructures along with, spacious ground, garden and international standard basket ball court. It has a well equipped science laboratory, computer lab and well furnished library that has text books, research journals and reference materials that provide the students with secured and effective setting for their learning and development.</div> <div> </div> <div> <hr /> </div> <div> </div> <div> <img alt="Crimson College of Technology" src="/userfiles/images/cct.jpg" style="width: 550px; height: 247px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Crimson College of Technology</strong></span></div> <div> Crimson College of Technology (CCT) is an academic institution that has been providing high-tech education in Butwal, Rupandehi since 2000 AD. Established by a group of dedicated academicians from diverse educational backgrounds, the college provides academic courses for Bachelor in Pharmacy (B.PHARM), BBA, BCA and BCIS affiliated to Pokhara University (PU). </div> <div> </div> <div> CCT is distinguished as an “A Grade College in Employment” in the region. Along with providing industry endorsed education, CCT is committed to inclusive quality assurance culture. It has developed a number of policies and procedures to ensure that the courses and services are of the highest quality in pharmacy education. The college is located in the heart of the city and is linked with East-West highway.</div> <div> </div> <div> The vision of the CCT is to help, develop and produce competent graduates that are groomed to deliver the ever increasing demands of corporate sector around the globe. Its motto “vt prosim” meaning ‘let me be useful’ reflects it objective. Along with academics, the college also stresses on imparting self-discipline, human and spiritual values to the students for their holistic development and change.</div> <div> </div> <div> For continuing its promise of providing state of the art educational environment and syllabus, the institution has been adopting best practices in the area and in-sourcing technologies to aid in their academic courses.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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' => 'When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies.', 'sortorder' => '2004', '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' => '2154', 'article_category_id' => '144', 'title' => 'Victory Of Free Market Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.</div> <div> </div> <div> Early results and trends show parties contesting with ethnic and regional agenda have lost. Political parties having liberal ideologies including centre-right Nepali Congress (NC) and centre-left Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) are heading towards victory. Out of the results declared for 239 of the total 240 seats under the First-Past-the-Post system, the NC has won 105 and UML 91 seats that makes their combined strength 82%. For the proportional representation system votes, UML has secured 28% and NC 26%. This is likely to yield them a very comfortable majority provided they work together. </div> <div> </div> <div> Victory of NC and UML is a good sign for economic reasons too since both parties are positive toward free market economy. While Nepali Congress is considered promoter of free market economy in Nepal, UML too is more favourable to free market than UCPN (Maoist), though some doubts still linger about UML’s tendency towards communist ideological dogma. </div> <div> </div> <div> Sign of victory of NC and UML has already shown positive impact on the share market. Their victory will further help boost confidence of business community due to their liberal policies. Another good aspect is that UML has in its manifesto vowed not to organize any general strike in the coming days. Hope the party sticks to its commitment.</div> <div> </div> <div> Victory of NC and UML have other political repercussions too. With apparent signs that NC and UML will emerge as near-equal forces, many people have started interpreting this result as people’s mandate to adopt two-party system. While it is still premature to conclude that the people have favoured two-party system, it can be safely said that people are not in favour extremist forces if NC and UML will be able to handle the vexing issues regional and ethnic inequalities in a pragmatic way.</div> <div> </div> <div> People also rejected the atrocities by CPN-Maoist (popularly known as dash Maoist) and despite the 10-day long general strike called by it, people came forward and cast their vote. In doing so they snatched away the previous mandate given to the UCPN Maoist, and expressed fresh mandate for peace and prosperity. They did not support political parties that frequently created chaos by resorting to violence. </div> <div> </div> <div> Political parties do not have right terrorize the nation in the name of ‘people’. UCPN (Maoist)’s threat to boycott the new CA shows that they still have to go a long way in proving themselves honest to democracy. Instead of positing their failure on ‘national and international power sources’ it’s time for them to analyze their weaknesses and improve themsemves to face the next election.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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 Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.', 'sortorder' => '2003', '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' => '2155', 'article_category_id' => '86', 'title' => 'Prachanda’s Voluntary Disclosure', 'sub_title' => '', 'summary' => null, 'content' => '<div> Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”</div> <div> </div> <div> Prachanda : “No, I am neither tired nor hungry. Rather I am angry with you. However, now I am on the way to the Income Tax Office to make a voluntary disclosure to pave the way to become the President”. <strong> -ML</strong></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”', 'sortorder' => '2002', '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' => '2152', 'article_category_id' => '145', 'title' => 'Towards Budget Transparency In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Anirudra Neupane</strong></div> <div> </div> <div> According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency. OBS report for 2012 says Nepal does not produces two of the eight key budget documents. Key eight budget documents include pre-budget statement, executive’s budget proposal, citizens’ budget, enacted budget, in-year reports, mid-year review, annual report and the audit report. Nepal produces six of the eight key budget documents but lacks pre-budget statement and citizens budget. </div> <div> </div> <div> Pre-budget statement is the policy outline for the government’s budget proposal. Priorities of the government, major programmes and projects and tentative weightage given to each programmes by the amount of budget are the important components of pre-budget statement. It is a policy guideline for coming year’s budget. Citizens budget is the non technical presentation of budget proposal so as to make general people understand the main features of government budget. According to IBP, lack of these two documents has limited the opportunity for people to participate in the Nepal’s budget process.</div> <div> </div> <div> There are several areas for improvements on comprehensiveness of existing 6 budget documents. These documents have limited outreach. They are in many cases produced but not timely released. On the other hand role of oversight agencies i.e. parliament and supreme audit institution has also not been utilized to promote public scrutiny on the budget process. </div> <div> </div> <div> Because of these reasons, Nepal’s open budget index has been only 44 in 2012. It was 43 in 2008 and 45 in 2010. Thus IBP has strongly recommended Nepal to undertake following steps:</div> <div> •Produce and publish a pre-budget statement and citizen budget</div> <div> •Increase the comprehensiveness of executive budget proposal</div> <div> • Increase comprehensiveness of in-year report</div> <div> • Increase comprehensiveness of year-end report</div> <div> •Increase comprehensiveness of audit report</div> <div> • Hold consultations with a range of legislators in the process of determining budget priorities</div> <div> •Legislature should have a specialized budget research office </div> <div> • Expand public engagement in budgeting </div> <div> </div> <div> Government should also prepare and publish indexes (inventory) of all budget related documents. The government should give concrete shape to pre-budget discourse by producing and publishing pre-budget statement at least before 30 days of publishing executive’s budget proposal as per international standard. And citizens’ budget should be published with executive’s budget proposal.</div> <div> </div> <div> Demystification of budget document should not be limited to formality. The government should increase comprehensiveness of key budget documents. In order to inform people, the government should build collaboration between government agencies and civil society, particularly budget advocacy groups.</div> <div> </div> <div> Lip service is not enough to ensure budget openness in the country. The government should ensure transparency by preparing budget openness friendly law and policies. The government should consider incorporating all relevant suggestions while drafting fiscal transparency bill because no one has the right to misuse the tax money. </div> <div> </div> <div> <em>(Writer has been conducting research on Public Financial Management in Nepal)</em></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency.', 'sortorder' => '2001', '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' => '2153', 'article_category_id' => '145', 'title' => 'Public Accountability: It's Not Only Banks That Needs Closer Scrutiny', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society, as it blundered into an attempt to buy 631 branches of Lloyds with no money in the till. This magical feat of accountancy beggars belief, coming as it did in the wake of the earlier huge bailouts by taxpayers of RBS and Lloyds, similarly blind to the limitations of their capital.</div> <div> </div> <div> It is all too easy to see Flowers as the comic sideshow, now dubbed the crystal Methodist man of the cloth, who has spent years gleefully behaving badly, protected by his dog collar and the old boys' network. His solicitor says his client is now "in a rather ponderous frame of mind". Far more significant is the damage done to a mutual with a proud history of ethical behaviour, now with a £1.5bn hole in the bank's capital and at the mercy of two hedge funds propelled by a very different drive.</div> <div> </div> <div> A danger also exists that Flowers and the mudslinging that currently occupies Labour and the Conservatives will distract from one of the core lessons of the Co-op debacle. Yet again, good governance and a sense of responsibility have been alarmingly absent in thefinancial sector. At the same time, Osborne, in allowing the regulators to appoint a head of their own choice to the inquiry he has instigated, has prompted Lord Myners, city minister during the banking crisis, to condemn "an enfeebled investigation, compromised and emasculated from day one".</div> <div> </div> <div> In the business of the Co-op bank, regulation has clearly been found wanting. In late 2011, the Financial Services Authority, precursor of today's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) told the Co-op bank that it lacked the management skills and possessed too little capital to make the Lloyds purchase. Yet still the Co-op was involved in a £750m deal to buy the Lloyds branches, incredibly with no dissent from the FSA. On the contrary, the Co-op was applauded by Osborne for "creating a new banking system for Britain that gives real choice to customers and supports the economy".</div> <div> </div> <div> Earlier this year, in the wake of yet another financial scandal in the rigging of the Libor rate, the parliamentary commission on banking standards published its recommendations, optimistically entitled "Changing Banking for Good".</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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 Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society', 'sortorder' => '2000', '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' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', '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' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', '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' => '2165', 'article_category_id' => '109', 'title' => 'Remittance Flow Growth Rate Tumbles', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent</strong></div> <div> </div> <div> R<span style="font-size: 12px;">emittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', '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' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', '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' => '2157', 'article_category_id' => '156', 'title' => 'Favoritism: Playing Out At An Office Near You', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By LAUREN WEBER</strong></div> <div> </div> <div> Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.</div> <div> </div> <div> Their conclusion might help explain the lack of diversity in the skyscrapers and industrial parks of corporate America, and assist companies and regulatory agencies in coming up with effective plans to create more heterogeneous workplaces. “It’s not about reducing hatred but reducing excess liking, and these are not the same things,” said Dan Hamermesh, an economist at the University of Texas and one of the authors of the paper.</div> <div> </div> <div> The paper gets deep into the dynamics of what we normally call discrimination, separating out hostility against an out-group (a group to which, say, a hiring manager does not belong) from preference for people similar to oneself. The authors refer to these attitudes as exophobia and endophilia.</div> <div> </div> <div> The distinction is a subtle one – at first glance, they seem like two sides of the same coin – but the authors point out that they can produce quite different real-world outcomes.</div> <div> </div> <div> For example, if a white boss is responsible for distributing $300 in bonus money to three workers, one white, one black and one Hispanic, each worker should get $100 presuming all other variables are equal. But an endophilic supervisor might give the white worker $110, leaving the other two $190, or $95 each. Meanwhile, an exophobic boss who is biased against African-Americans might give the black worker $90, leaving $210 for the others, or $105 each. “In both cases the difference in outcomes between the white and the black worker is $15, but white-Hispanic relative wages differ under each alternative,” the authors write.</div> <div> </div> <div> In an experiment conducted at the School of Business and Economics at Maastricht University, in the Netherlands, the researchers randomly revealed or concealed the names on students’ final exams, allowing some graders to infer the nationality and gender of the students. Most of the individuals were German or Dutch, and their names generally reflected their origins. Researchers also had access to the graders’ nationality and gender. In total, 1,495 exams scored by 42 graders were examined.</div> <div> </div> <div> Among those graders who’d seen the names, the authors found “substantial” favoritism by nationality, but no evidence of discrimination. A student who matched the grader’s nationality received a higher score if her name was visible, equivalent to moving from the median score to the 57th percentile. But in unmatched pairs, where discrimination would presumably be evident, grades were about the same whether names were revealed or not.</div> <div> </div> <div> On average, gender had no effect on scores. The authors point out that while discrimination still exists in some cases, favoritism is more pervasive, and suggest that anti-discrimination policies or workplace-diversity programs, which tend to focus on revealing and fighting biases, should instead be oriented toward helping workers and managers understand their unconscious preferences.</div> <div> </div> <div> “We’re so hung up on accusing people of … discriminating against others, but maybe it’s not the most efficient way to ameliorate the problem,” said Hamermesh.</div>', 'published' => true, 'created' => '2013-11-25', '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' => 'Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.', 'sortorder' => '2011', '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' => '2164', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market ( 18 -24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2010', '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' => '2163', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (18 - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2009', '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' => '2161', 'article_category_id' => '110', 'title' => 'Top Ten Losers (18 November - 24 November)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2008', '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' => '2162', 'article_category_id' => '111', 'title' => 'Top Ten Gainers ( 18 November - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2007', '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' => '2159', 'article_category_id' => '209', 'title' => 'Vacancy In Media Management', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Vacancy Final" src="/userfiles/images/Vacancy-final(1).jpg" style="height: 916px; width: 550px;" /></p>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', 'keywords' => 'Advertisement', 'description' => 'Vacancy Announcement', 'sortorder' => '2006', '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' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', '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' => '2156', 'article_category_id' => '151', 'title' => 'Best Business Schools Reach Out To West', 'sub_title' => '', 'summary' => null, 'content' => '<div> When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies. And some of them even enter capital for better higher secondary schools that provide quality education. However, times have changed. It’s not necessary to leave home in search of good education. Here are two best business schools outside the capital and that too in the western part of the nation. Anyone looking for pursuing business studies can depend on these institutions for all they need from a business school. Yes, if you are from west and looking for pursuing your career further in business sector, you don’t have to look farther than your own region. Here are the two best B-Schools of Western Region. </div> <div> </div> <div> <hr /> <p> <br /> <img alt="Tillotama College" src="/userfiles/images/tc.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></p> </div> <div> <span style="font-size:14px;"><strong>Tilottama Campus</strong></span></div> <div> Tilottama campus was established in 1996 as the first private college in Rupandehi. It has been established by a team of dedicated, experienced and enterprising academicians witha motive to cater for the growing demands of parents and students in the higher education by providing quality education. </div> <div> </div> <div> The college has been running +2 programme in science and management in affiliation with Higher Secondary Education Board (HSEB), Nepal since its establishment. Similarly, it is also running Bachelors in Business Administration (BBA) programme in affiliation with Pokhara University. It has plans to launch Masters in Business Administration (MBA) in the near future.</div> <div> </div> <div> The college has been imparting quality education since its establishment. Its +2 program has been performing exceptionally well and has maintained good results in Higher Secondary Education Board (HSEB) examinations for the past 16 years. Considering its performance, HSEB has awarded it time and again for excellence. </div> <div> </div> <div> Its graduate program has also been equally qualitative. The college feels proud on the high success rate of its BBA students who have been among some of the university toppers for several years. Many of the college pass outs have been employed in reputed corporate houses and organizations. Their recruitment and placement in those organizations speaks for the quality of its BBA program. </div> <div> </div> <div> Faculty members at the college are well experienced with a substantial network outreach with the industrial and commercial sector. These attributes has ensured that any Tillotama’s BBA course student acquire practical and theoretical education and pave way for a successful career in management.</div> <div> </div> <div> Located in the heart of Butwal, Yogikuti, the college has adequate physical infrastructures along with, spacious ground, garden and international standard basket ball court. It has a well equipped science laboratory, computer lab and well furnished library that has text books, research journals and reference materials that provide the students with secured and effective setting for their learning and development.</div> <div> </div> <div> <hr /> </div> <div> </div> <div> <img alt="Crimson College of Technology" src="/userfiles/images/cct.jpg" style="width: 550px; height: 247px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Crimson College of Technology</strong></span></div> <div> Crimson College of Technology (CCT) is an academic institution that has been providing high-tech education in Butwal, Rupandehi since 2000 AD. Established by a group of dedicated academicians from diverse educational backgrounds, the college provides academic courses for Bachelor in Pharmacy (B.PHARM), BBA, BCA and BCIS affiliated to Pokhara University (PU). </div> <div> </div> <div> CCT is distinguished as an “A Grade College in Employment” in the region. Along with providing industry endorsed education, CCT is committed to inclusive quality assurance culture. It has developed a number of policies and procedures to ensure that the courses and services are of the highest quality in pharmacy education. The college is located in the heart of the city and is linked with East-West highway.</div> <div> </div> <div> The vision of the CCT is to help, develop and produce competent graduates that are groomed to deliver the ever increasing demands of corporate sector around the globe. Its motto “vt prosim” meaning ‘let me be useful’ reflects it objective. Along with academics, the college also stresses on imparting self-discipline, human and spiritual values to the students for their holistic development and change.</div> <div> </div> <div> For continuing its promise of providing state of the art educational environment and syllabus, the institution has been adopting best practices in the area and in-sourcing technologies to aid in their academic courses.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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' => 'When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies.', 'sortorder' => '2004', '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' => '2154', 'article_category_id' => '144', 'title' => 'Victory Of Free Market Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.</div> <div> </div> <div> Early results and trends show parties contesting with ethnic and regional agenda have lost. Political parties having liberal ideologies including centre-right Nepali Congress (NC) and centre-left Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) are heading towards victory. Out of the results declared for 239 of the total 240 seats under the First-Past-the-Post system, the NC has won 105 and UML 91 seats that makes their combined strength 82%. For the proportional representation system votes, UML has secured 28% and NC 26%. This is likely to yield them a very comfortable majority provided they work together. </div> <div> </div> <div> Victory of NC and UML is a good sign for economic reasons too since both parties are positive toward free market economy. While Nepali Congress is considered promoter of free market economy in Nepal, UML too is more favourable to free market than UCPN (Maoist), though some doubts still linger about UML’s tendency towards communist ideological dogma. </div> <div> </div> <div> Sign of victory of NC and UML has already shown positive impact on the share market. Their victory will further help boost confidence of business community due to their liberal policies. Another good aspect is that UML has in its manifesto vowed not to organize any general strike in the coming days. Hope the party sticks to its commitment.</div> <div> </div> <div> Victory of NC and UML have other political repercussions too. With apparent signs that NC and UML will emerge as near-equal forces, many people have started interpreting this result as people’s mandate to adopt two-party system. While it is still premature to conclude that the people have favoured two-party system, it can be safely said that people are not in favour extremist forces if NC and UML will be able to handle the vexing issues regional and ethnic inequalities in a pragmatic way.</div> <div> </div> <div> People also rejected the atrocities by CPN-Maoist (popularly known as dash Maoist) and despite the 10-day long general strike called by it, people came forward and cast their vote. In doing so they snatched away the previous mandate given to the UCPN Maoist, and expressed fresh mandate for peace and prosperity. They did not support political parties that frequently created chaos by resorting to violence. </div> <div> </div> <div> Political parties do not have right terrorize the nation in the name of ‘people’. UCPN (Maoist)’s threat to boycott the new CA shows that they still have to go a long way in proving themselves honest to democracy. Instead of positing their failure on ‘national and international power sources’ it’s time for them to analyze their weaknesses and improve themsemves to face the next election.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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 Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.', 'sortorder' => '2003', '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' => '2155', 'article_category_id' => '86', 'title' => 'Prachanda’s Voluntary Disclosure', 'sub_title' => '', 'summary' => null, 'content' => '<div> Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”</div> <div> </div> <div> Prachanda : “No, I am neither tired nor hungry. Rather I am angry with you. However, now I am on the way to the Income Tax Office to make a voluntary disclosure to pave the way to become the President”. <strong> -ML</strong></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”', 'sortorder' => '2002', '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' => '2152', 'article_category_id' => '145', 'title' => 'Towards Budget Transparency In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Anirudra Neupane</strong></div> <div> </div> <div> According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency. OBS report for 2012 says Nepal does not produces two of the eight key budget documents. Key eight budget documents include pre-budget statement, executive’s budget proposal, citizens’ budget, enacted budget, in-year reports, mid-year review, annual report and the audit report. Nepal produces six of the eight key budget documents but lacks pre-budget statement and citizens budget. </div> <div> </div> <div> Pre-budget statement is the policy outline for the government’s budget proposal. Priorities of the government, major programmes and projects and tentative weightage given to each programmes by the amount of budget are the important components of pre-budget statement. It is a policy guideline for coming year’s budget. Citizens budget is the non technical presentation of budget proposal so as to make general people understand the main features of government budget. According to IBP, lack of these two documents has limited the opportunity for people to participate in the Nepal’s budget process.</div> <div> </div> <div> There are several areas for improvements on comprehensiveness of existing 6 budget documents. These documents have limited outreach. They are in many cases produced but not timely released. On the other hand role of oversight agencies i.e. parliament and supreme audit institution has also not been utilized to promote public scrutiny on the budget process. </div> <div> </div> <div> Because of these reasons, Nepal’s open budget index has been only 44 in 2012. It was 43 in 2008 and 45 in 2010. Thus IBP has strongly recommended Nepal to undertake following steps:</div> <div> •Produce and publish a pre-budget statement and citizen budget</div> <div> •Increase the comprehensiveness of executive budget proposal</div> <div> • Increase comprehensiveness of in-year report</div> <div> • Increase comprehensiveness of year-end report</div> <div> •Increase comprehensiveness of audit report</div> <div> • Hold consultations with a range of legislators in the process of determining budget priorities</div> <div> •Legislature should have a specialized budget research office </div> <div> • Expand public engagement in budgeting </div> <div> </div> <div> Government should also prepare and publish indexes (inventory) of all budget related documents. The government should give concrete shape to pre-budget discourse by producing and publishing pre-budget statement at least before 30 days of publishing executive’s budget proposal as per international standard. And citizens’ budget should be published with executive’s budget proposal.</div> <div> </div> <div> Demystification of budget document should not be limited to formality. The government should increase comprehensiveness of key budget documents. In order to inform people, the government should build collaboration between government agencies and civil society, particularly budget advocacy groups.</div> <div> </div> <div> Lip service is not enough to ensure budget openness in the country. The government should ensure transparency by preparing budget openness friendly law and policies. The government should consider incorporating all relevant suggestions while drafting fiscal transparency bill because no one has the right to misuse the tax money. </div> <div> </div> <div> <em>(Writer has been conducting research on Public Financial Management in Nepal)</em></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency.', 'sortorder' => '2001', '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' => '2153', 'article_category_id' => '145', 'title' => 'Public Accountability: It's Not Only Banks That Needs Closer Scrutiny', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society, as it blundered into an attempt to buy 631 branches of Lloyds with no money in the till. This magical feat of accountancy beggars belief, coming as it did in the wake of the earlier huge bailouts by taxpayers of RBS and Lloyds, similarly blind to the limitations of their capital.</div> <div> </div> <div> It is all too easy to see Flowers as the comic sideshow, now dubbed the crystal Methodist man of the cloth, who has spent years gleefully behaving badly, protected by his dog collar and the old boys' network. His solicitor says his client is now "in a rather ponderous frame of mind". Far more significant is the damage done to a mutual with a proud history of ethical behaviour, now with a £1.5bn hole in the bank's capital and at the mercy of two hedge funds propelled by a very different drive.</div> <div> </div> <div> A danger also exists that Flowers and the mudslinging that currently occupies Labour and the Conservatives will distract from one of the core lessons of the Co-op debacle. Yet again, good governance and a sense of responsibility have been alarmingly absent in thefinancial sector. At the same time, Osborne, in allowing the regulators to appoint a head of their own choice to the inquiry he has instigated, has prompted Lord Myners, city minister during the banking crisis, to condemn "an enfeebled investigation, compromised and emasculated from day one".</div> <div> </div> <div> In the business of the Co-op bank, regulation has clearly been found wanting. In late 2011, the Financial Services Authority, precursor of today's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) told the Co-op bank that it lacked the management skills and possessed too little capital to make the Lloyds purchase. Yet still the Co-op was involved in a £750m deal to buy the Lloyds branches, incredibly with no dissent from the FSA. On the contrary, the Co-op was applauded by Osborne for "creating a new banking system for Britain that gives real choice to customers and supports the economy".</div> <div> </div> <div> Earlier this year, in the wake of yet another financial scandal in the rigging of the Libor rate, the parliamentary commission on banking standards published its recommendations, optimistically entitled "Changing Banking for Good".</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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 Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society', 'sortorder' => '2000', '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' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', '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' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', '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
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Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', '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' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', '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' => '2157', 'article_category_id' => '156', 'title' => 'Favoritism: Playing Out At An Office Near You', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By LAUREN WEBER</strong></div> <div> </div> <div> Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.</div> <div> </div> <div> Their conclusion might help explain the lack of diversity in the skyscrapers and industrial parks of corporate America, and assist companies and regulatory agencies in coming up with effective plans to create more heterogeneous workplaces. “It’s not about reducing hatred but reducing excess liking, and these are not the same things,” said Dan Hamermesh, an economist at the University of Texas and one of the authors of the paper.</div> <div> </div> <div> The paper gets deep into the dynamics of what we normally call discrimination, separating out hostility against an out-group (a group to which, say, a hiring manager does not belong) from preference for people similar to oneself. The authors refer to these attitudes as exophobia and endophilia.</div> <div> </div> <div> The distinction is a subtle one – at first glance, they seem like two sides of the same coin – but the authors point out that they can produce quite different real-world outcomes.</div> <div> </div> <div> For example, if a white boss is responsible for distributing $300 in bonus money to three workers, one white, one black and one Hispanic, each worker should get $100 presuming all other variables are equal. But an endophilic supervisor might give the white worker $110, leaving the other two $190, or $95 each. Meanwhile, an exophobic boss who is biased against African-Americans might give the black worker $90, leaving $210 for the others, or $105 each. “In both cases the difference in outcomes between the white and the black worker is $15, but white-Hispanic relative wages differ under each alternative,” the authors write.</div> <div> </div> <div> In an experiment conducted at the School of Business and Economics at Maastricht University, in the Netherlands, the researchers randomly revealed or concealed the names on students’ final exams, allowing some graders to infer the nationality and gender of the students. Most of the individuals were German or Dutch, and their names generally reflected their origins. Researchers also had access to the graders’ nationality and gender. In total, 1,495 exams scored by 42 graders were examined.</div> <div> </div> <div> Among those graders who’d seen the names, the authors found “substantial” favoritism by nationality, but no evidence of discrimination. A student who matched the grader’s nationality received a higher score if her name was visible, equivalent to moving from the median score to the 57th percentile. But in unmatched pairs, where discrimination would presumably be evident, grades were about the same whether names were revealed or not.</div> <div> </div> <div> On average, gender had no effect on scores. The authors point out that while discrimination still exists in some cases, favoritism is more pervasive, and suggest that anti-discrimination policies or workplace-diversity programs, which tend to focus on revealing and fighting biases, should instead be oriented toward helping workers and managers understand their unconscious preferences.</div> <div> </div> <div> “We’re so hung up on accusing people of … discriminating against others, but maybe it’s not the most efficient way to ameliorate the problem,” said Hamermesh.</div>', 'published' => true, 'created' => '2013-11-25', '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' => 'Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.', 'sortorder' => '2011', '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' => '2164', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market ( 18 -24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2010', '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' => '2163', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (18 - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2009', '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' => '2161', 'article_category_id' => '110', 'title' => 'Top Ten Losers (18 November - 24 November)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2008', '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' => '2162', 'article_category_id' => '111', 'title' => 'Top Ten Gainers ( 18 November - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2007', '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' => '2159', 'article_category_id' => '209', 'title' => 'Vacancy In Media Management', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Vacancy Final" src="/userfiles/images/Vacancy-final(1).jpg" style="height: 916px; width: 550px;" /></p>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', 'keywords' => 'Advertisement', 'description' => 'Vacancy Announcement', 'sortorder' => '2006', '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' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', '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' => '2156', 'article_category_id' => '151', 'title' => 'Best Business Schools Reach Out To West', 'sub_title' => '', 'summary' => null, 'content' => '<div> When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies. And some of them even enter capital for better higher secondary schools that provide quality education. However, times have changed. It’s not necessary to leave home in search of good education. Here are two best business schools outside the capital and that too in the western part of the nation. Anyone looking for pursuing business studies can depend on these institutions for all they need from a business school. Yes, if you are from west and looking for pursuing your career further in business sector, you don’t have to look farther than your own region. Here are the two best B-Schools of Western Region. </div> <div> </div> <div> <hr /> <p> <br /> <img alt="Tillotama College" src="/userfiles/images/tc.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></p> </div> <div> <span style="font-size:14px;"><strong>Tilottama Campus</strong></span></div> <div> Tilottama campus was established in 1996 as the first private college in Rupandehi. It has been established by a team of dedicated, experienced and enterprising academicians witha motive to cater for the growing demands of parents and students in the higher education by providing quality education. </div> <div> </div> <div> The college has been running +2 programme in science and management in affiliation with Higher Secondary Education Board (HSEB), Nepal since its establishment. Similarly, it is also running Bachelors in Business Administration (BBA) programme in affiliation with Pokhara University. It has plans to launch Masters in Business Administration (MBA) in the near future.</div> <div> </div> <div> The college has been imparting quality education since its establishment. Its +2 program has been performing exceptionally well and has maintained good results in Higher Secondary Education Board (HSEB) examinations for the past 16 years. Considering its performance, HSEB has awarded it time and again for excellence. </div> <div> </div> <div> Its graduate program has also been equally qualitative. The college feels proud on the high success rate of its BBA students who have been among some of the university toppers for several years. Many of the college pass outs have been employed in reputed corporate houses and organizations. Their recruitment and placement in those organizations speaks for the quality of its BBA program. </div> <div> </div> <div> Faculty members at the college are well experienced with a substantial network outreach with the industrial and commercial sector. These attributes has ensured that any Tillotama’s BBA course student acquire practical and theoretical education and pave way for a successful career in management.</div> <div> </div> <div> Located in the heart of Butwal, Yogikuti, the college has adequate physical infrastructures along with, spacious ground, garden and international standard basket ball court. It has a well equipped science laboratory, computer lab and well furnished library that has text books, research journals and reference materials that provide the students with secured and effective setting for their learning and development.</div> <div> </div> <div> <hr /> </div> <div> </div> <div> <img alt="Crimson College of Technology" src="/userfiles/images/cct.jpg" style="width: 550px; height: 247px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Crimson College of Technology</strong></span></div> <div> Crimson College of Technology (CCT) is an academic institution that has been providing high-tech education in Butwal, Rupandehi since 2000 AD. Established by a group of dedicated academicians from diverse educational backgrounds, the college provides academic courses for Bachelor in Pharmacy (B.PHARM), BBA, BCA and BCIS affiliated to Pokhara University (PU). </div> <div> </div> <div> CCT is distinguished as an “A Grade College in Employment” in the region. Along with providing industry endorsed education, CCT is committed to inclusive quality assurance culture. It has developed a number of policies and procedures to ensure that the courses and services are of the highest quality in pharmacy education. The college is located in the heart of the city and is linked with East-West highway.</div> <div> </div> <div> The vision of the CCT is to help, develop and produce competent graduates that are groomed to deliver the ever increasing demands of corporate sector around the globe. Its motto “vt prosim” meaning ‘let me be useful’ reflects it objective. Along with academics, the college also stresses on imparting self-discipline, human and spiritual values to the students for their holistic development and change.</div> <div> </div> <div> For continuing its promise of providing state of the art educational environment and syllabus, the institution has been adopting best practices in the area and in-sourcing technologies to aid in their academic courses.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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' => 'When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies.', 'sortorder' => '2004', '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' => '2154', 'article_category_id' => '144', 'title' => 'Victory Of Free Market Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.</div> <div> </div> <div> Early results and trends show parties contesting with ethnic and regional agenda have lost. Political parties having liberal ideologies including centre-right Nepali Congress (NC) and centre-left Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) are heading towards victory. Out of the results declared for 239 of the total 240 seats under the First-Past-the-Post system, the NC has won 105 and UML 91 seats that makes their combined strength 82%. For the proportional representation system votes, UML has secured 28% and NC 26%. This is likely to yield them a very comfortable majority provided they work together. </div> <div> </div> <div> Victory of NC and UML is a good sign for economic reasons too since both parties are positive toward free market economy. While Nepali Congress is considered promoter of free market economy in Nepal, UML too is more favourable to free market than UCPN (Maoist), though some doubts still linger about UML’s tendency towards communist ideological dogma. </div> <div> </div> <div> Sign of victory of NC and UML has already shown positive impact on the share market. Their victory will further help boost confidence of business community due to their liberal policies. Another good aspect is that UML has in its manifesto vowed not to organize any general strike in the coming days. Hope the party sticks to its commitment.</div> <div> </div> <div> Victory of NC and UML have other political repercussions too. With apparent signs that NC and UML will emerge as near-equal forces, many people have started interpreting this result as people’s mandate to adopt two-party system. While it is still premature to conclude that the people have favoured two-party system, it can be safely said that people are not in favour extremist forces if NC and UML will be able to handle the vexing issues regional and ethnic inequalities in a pragmatic way.</div> <div> </div> <div> People also rejected the atrocities by CPN-Maoist (popularly known as dash Maoist) and despite the 10-day long general strike called by it, people came forward and cast their vote. In doing so they snatched away the previous mandate given to the UCPN Maoist, and expressed fresh mandate for peace and prosperity. They did not support political parties that frequently created chaos by resorting to violence. </div> <div> </div> <div> Political parties do not have right terrorize the nation in the name of ‘people’. UCPN (Maoist)’s threat to boycott the new CA shows that they still have to go a long way in proving themselves honest to democracy. Instead of positing their failure on ‘national and international power sources’ it’s time for them to analyze their weaknesses and improve themsemves to face the next election.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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 Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.', 'sortorder' => '2003', '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' => '2155', 'article_category_id' => '86', 'title' => 'Prachanda’s Voluntary Disclosure', 'sub_title' => '', 'summary' => null, 'content' => '<div> Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”</div> <div> </div> <div> Prachanda : “No, I am neither tired nor hungry. Rather I am angry with you. However, now I am on the way to the Income Tax Office to make a voluntary disclosure to pave the way to become the President”. <strong> -ML</strong></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”', 'sortorder' => '2002', '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' => '2152', 'article_category_id' => '145', 'title' => 'Towards Budget Transparency In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Anirudra Neupane</strong></div> <div> </div> <div> According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency. OBS report for 2012 says Nepal does not produces two of the eight key budget documents. Key eight budget documents include pre-budget statement, executive’s budget proposal, citizens’ budget, enacted budget, in-year reports, mid-year review, annual report and the audit report. Nepal produces six of the eight key budget documents but lacks pre-budget statement and citizens budget. </div> <div> </div> <div> Pre-budget statement is the policy outline for the government’s budget proposal. Priorities of the government, major programmes and projects and tentative weightage given to each programmes by the amount of budget are the important components of pre-budget statement. It is a policy guideline for coming year’s budget. Citizens budget is the non technical presentation of budget proposal so as to make general people understand the main features of government budget. According to IBP, lack of these two documents has limited the opportunity for people to participate in the Nepal’s budget process.</div> <div> </div> <div> There are several areas for improvements on comprehensiveness of existing 6 budget documents. These documents have limited outreach. They are in many cases produced but not timely released. On the other hand role of oversight agencies i.e. parliament and supreme audit institution has also not been utilized to promote public scrutiny on the budget process. </div> <div> </div> <div> Because of these reasons, Nepal’s open budget index has been only 44 in 2012. It was 43 in 2008 and 45 in 2010. Thus IBP has strongly recommended Nepal to undertake following steps:</div> <div> •Produce and publish a pre-budget statement and citizen budget</div> <div> •Increase the comprehensiveness of executive budget proposal</div> <div> • Increase comprehensiveness of in-year report</div> <div> • Increase comprehensiveness of year-end report</div> <div> •Increase comprehensiveness of audit report</div> <div> • Hold consultations with a range of legislators in the process of determining budget priorities</div> <div> •Legislature should have a specialized budget research office </div> <div> • Expand public engagement in budgeting </div> <div> </div> <div> Government should also prepare and publish indexes (inventory) of all budget related documents. The government should give concrete shape to pre-budget discourse by producing and publishing pre-budget statement at least before 30 days of publishing executive’s budget proposal as per international standard. And citizens’ budget should be published with executive’s budget proposal.</div> <div> </div> <div> Demystification of budget document should not be limited to formality. The government should increase comprehensiveness of key budget documents. In order to inform people, the government should build collaboration between government agencies and civil society, particularly budget advocacy groups.</div> <div> </div> <div> Lip service is not enough to ensure budget openness in the country. The government should ensure transparency by preparing budget openness friendly law and policies. The government should consider incorporating all relevant suggestions while drafting fiscal transparency bill because no one has the right to misuse the tax money. </div> <div> </div> <div> <em>(Writer has been conducting research on Public Financial Management in Nepal)</em></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency.', 'sortorder' => '2001', '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' => '2153', 'article_category_id' => '145', 'title' => 'Public Accountability: It's Not Only Banks That Needs Closer Scrutiny', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society, as it blundered into an attempt to buy 631 branches of Lloyds with no money in the till. This magical feat of accountancy beggars belief, coming as it did in the wake of the earlier huge bailouts by taxpayers of RBS and Lloyds, similarly blind to the limitations of their capital.</div> <div> </div> <div> It is all too easy to see Flowers as the comic sideshow, now dubbed the crystal Methodist man of the cloth, who has spent years gleefully behaving badly, protected by his dog collar and the old boys' network. His solicitor says his client is now "in a rather ponderous frame of mind". Far more significant is the damage done to a mutual with a proud history of ethical behaviour, now with a £1.5bn hole in the bank's capital and at the mercy of two hedge funds propelled by a very different drive.</div> <div> </div> <div> A danger also exists that Flowers and the mudslinging that currently occupies Labour and the Conservatives will distract from one of the core lessons of the Co-op debacle. Yet again, good governance and a sense of responsibility have been alarmingly absent in thefinancial sector. At the same time, Osborne, in allowing the regulators to appoint a head of their own choice to the inquiry he has instigated, has prompted Lord Myners, city minister during the banking crisis, to condemn "an enfeebled investigation, compromised and emasculated from day one".</div> <div> </div> <div> In the business of the Co-op bank, regulation has clearly been found wanting. In late 2011, the Financial Services Authority, precursor of today's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) told the Co-op bank that it lacked the management skills and possessed too little capital to make the Lloyds purchase. Yet still the Co-op was involved in a £750m deal to buy the Lloyds branches, incredibly with no dissent from the FSA. On the contrary, the Co-op was applauded by Osborne for "creating a new banking system for Britain that gives real choice to customers and supports the economy".</div> <div> </div> <div> Earlier this year, in the wake of yet another financial scandal in the rigging of the Libor rate, the parliamentary commission on banking standards published its recommendations, optimistically entitled "Changing Banking for Good".</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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 Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society', 'sortorder' => '2000', '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' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', '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' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', '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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Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth. </span></div> <div> </div> <div> According to the data of Nepal Rastra Bank, the remittance growth has declined 3.4 per cent in the first two months of the current fiscal year in comparison to the similar period of last fiscal year.</div> <div> </div> <div> The growth rate plunged to 34.7 per cent as of mid September of the current fiscal year from 38.1 per cent to the similar period of the last fiscal year. According to NRB, The NRB report shows that Nepal received remittance amounting to Rs 65.38 billon in the first two months compared to Rs 88.4 billion of last year. </div> <div> </div> <div> While the NRB is making the statistic public that shows the decline in the remittance growth rate, United Remit has said that the remittance has increased by 8 per cent in the current fiscal year compared to the last year. Similarly, Prabhu Money Transfer has also has said that the remittance flow has surged this year than in last year. Munal Jang Karki, Business Development Executive of Prabhu Transfer, said the remittance inflow has surge d 27 per cent from January to October this year. </div> <div> </div> <div> Economist Dr Chandramani Adhikari said that people’s ‘wait and watch mood’ due to the recent rise in the US dollar could be a reason in the decline of the remittance growth rate. According to him, the trend to bring equipments and goods as well as cash with themselves by the migrant workers during Dashain and Tihar festival could also be a reason behind the decline of remittance growth rate. Experts say that the slowdown of the remittance growth rate could affect Nepal’s remittance-based economy in a long run. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Remittance flow growth rate in Nepal has slowed in past few months. Though the total remittance amount has increased, concerned stakeholders say, the growth rate has declined due to various reasons. They argue that the Saudi Arabia government’s move to deport illegal Nepali workers last year is one of the factors behind the slump of overall remittance growth.', 'sortorder' => '2013', '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' => '2167', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (25 November - 1 December 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Citizens Post 100m Profit</strong></span></div> <div> Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year. According to the unaudited financial report of the first quarter of current fiscal year made public by the Bank, the Company has collected Rs 23.28 billion deposit and floated the loan amount Rs 19.23 billion during the period. According to the Bank, its paid-up capital has now reached Rs 2.10 billion.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Century Observes Net Profit Surge</strong></span></div> <div> The net profit of Century Bank Ltd has increased in the first quarter of the Fiscal Year 2013-14, according to the unaudited financial report of the Company. The Bank has said that its net profit has increased to 23.9 million in the first quarter of the current fiscal year from Rs 1.8 million in the same period of last fiscal year. According to the report, net interest income of the Bank has also increased in recent period. The Bank had earned Rs 58.6 million net interest income in first quarter of the last fiscal year, while the net interest income reached Rs 67.3 million in the first quarter of the current fiscal year. According to the Bank, it has the liquidity ratio of 27.92 per cent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Manaslu’s Net Profit 1.5m</strong></span></div> <div> Manaslu Development Bank has posted a net profit of Rs 1.54 million in the first quarter of the current fiscal year. The Bank, headquartered at Gorkha, has collected Rs 577 million deposit, while floated Rs 486.1 loan during the same period. According to the unaudited quarterly financial report of the Bank, it has earned Rs 6.8 million interest income in the first quarter of current fiscal year. The Bank, which holds Rs 120 million paid-up capital, has allocated Rs 380,860 for loan loss provision. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Shangri-la Registers 15.4m Net Profit</strong></span></div> <div> Shangrila Development Bank has posted Rs 15.42 million net profit in the first quarter of the current fiscal year. According to the unaudited quarterly financial report of the Company, it has collected a total of Rs 3.28 billion deposit and extended Rs 2.81 billion loan in the same period. The Bank has extended Rs 109 million rupees in the real state sector alone during the first quarter of the Fiscal Year 2013-14. The Bank, headquartered at Pokhara, has Rs 19.28 of per share income. </div> <div> </div> <div> <span style="font-size:14px;"><strong>ADBL’s Net Interest Income Plummets</strong></span></div> <div> The net interest income of Agriculture Development Bank Ltd has declined in the first quarter of current fiscal year in comparison to the same period of previous fiscal year. According to the quarterly financial report of the Bank, its net interest income has plummeted to Rs 1.58 billion in the first quarter of the current fiscal year from Rs 4.72 billion in the same period of last fiscal year. Though the Bank observed a drop in the net interest income, there was nominal increment in the total deposit collected and the loan floated by the bank during the first quarter as compared to the same period of the last fiscal year. According to the financial report, the Bank has collected Rs 60.68 billion deposit and floated Rs 50.72 billion in the first quarter of current fiscal year, while the Bank had collected Rs 54.43 billion deposit and extended a total of Rs 49.72 billion loan in the same period of last fiscal year. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Citizens Bank International Ltd has earned Rs 100 million net profit on the first quarter of current fiscal year. The Bank had made Rs 670 million net profit in the same period of the last fiscal year.', 'sortorder' => '2012', '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' => '2157', 'article_category_id' => '156', 'title' => 'Favoritism: Playing Out At An Office Near You', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By LAUREN WEBER</strong></div> <div> </div> <div> Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.</div> <div> </div> <div> Their conclusion might help explain the lack of diversity in the skyscrapers and industrial parks of corporate America, and assist companies and regulatory agencies in coming up with effective plans to create more heterogeneous workplaces. “It’s not about reducing hatred but reducing excess liking, and these are not the same things,” said Dan Hamermesh, an economist at the University of Texas and one of the authors of the paper.</div> <div> </div> <div> The paper gets deep into the dynamics of what we normally call discrimination, separating out hostility against an out-group (a group to which, say, a hiring manager does not belong) from preference for people similar to oneself. The authors refer to these attitudes as exophobia and endophilia.</div> <div> </div> <div> The distinction is a subtle one – at first glance, they seem like two sides of the same coin – but the authors point out that they can produce quite different real-world outcomes.</div> <div> </div> <div> For example, if a white boss is responsible for distributing $300 in bonus money to three workers, one white, one black and one Hispanic, each worker should get $100 presuming all other variables are equal. But an endophilic supervisor might give the white worker $110, leaving the other two $190, or $95 each. Meanwhile, an exophobic boss who is biased against African-Americans might give the black worker $90, leaving $210 for the others, or $105 each. “In both cases the difference in outcomes between the white and the black worker is $15, but white-Hispanic relative wages differ under each alternative,” the authors write.</div> <div> </div> <div> In an experiment conducted at the School of Business and Economics at Maastricht University, in the Netherlands, the researchers randomly revealed or concealed the names on students’ final exams, allowing some graders to infer the nationality and gender of the students. Most of the individuals were German or Dutch, and their names generally reflected their origins. Researchers also had access to the graders’ nationality and gender. In total, 1,495 exams scored by 42 graders were examined.</div> <div> </div> <div> Among those graders who’d seen the names, the authors found “substantial” favoritism by nationality, but no evidence of discrimination. A student who matched the grader’s nationality received a higher score if her name was visible, equivalent to moving from the median score to the 57th percentile. But in unmatched pairs, where discrimination would presumably be evident, grades were about the same whether names were revealed or not.</div> <div> </div> <div> On average, gender had no effect on scores. The authors point out that while discrimination still exists in some cases, favoritism is more pervasive, and suggest that anti-discrimination policies or workplace-diversity programs, which tend to focus on revealing and fighting biases, should instead be oriented toward helping workers and managers understand their unconscious preferences.</div> <div> </div> <div> “We’re so hung up on accusing people of … discriminating against others, but maybe it’s not the most efficient way to ameliorate the problem,” said Hamermesh.</div>', 'published' => true, 'created' => '2013-11-25', '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' => 'Here’s a riddle: A company’s workforce is composed of 80% white men. Is there discrimination going on? Or is it favoritism? That’s the question posed in a new paper by economists at Maastricht University and the University of Texas, who found that favoritism is a far more powerful force than outright bias.', 'sortorder' => '2011', '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' => '2164', 'article_category_id' => '113', 'title' => 'US Dollar Exchange Rate At Local Market ( 18 -24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2010', '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' => '2163', 'article_category_id' => '112', 'title' => 'Weekly Gold And Silver Price (18 - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2009', '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' => '2161', 'article_category_id' => '110', 'title' => 'Top Ten Losers (18 November - 24 November)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2008', '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' => '2162', 'article_category_id' => '111', 'title' => 'Top Ten Gainers ( 18 November - 24 November 2013)', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => '2007', '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' => '2159', 'article_category_id' => '209', 'title' => 'Vacancy In Media Management', 'sub_title' => '', 'summary' => null, 'content' => '<p> <img alt="Vacancy Final" src="/userfiles/images/Vacancy-final(1).jpg" style="height: 916px; width: 550px;" /></p>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', 'keywords' => 'Advertisement', 'description' => 'Vacancy Announcement', 'sortorder' => '2006', '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' => '2160', 'article_category_id' => '109', 'title' => 'Poll Results Boost Share Index', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 12px;">--By TC Correspondent</strong></div> <div> </div> <div> N<span style="font-size: 12px;">epse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls. The trading floor remained open for only one day last week. </span></div> <div> </div> <div> The shares transaction took place just for 45 minutes on the day due to the repeated circuit breakers in the market. </div> <div> </div> <div> Nepse imposed the first circuit breaker within 15 minutes of opening of the market to halt the transactions for 15 minutes when the benchmark index rose by 3 percent. Another circuit breaker was applied at around 12:29 PM for 30 minutes when Nepse rose by 4 per cent. Though the trading floor was opened later, the transactions were all together halted for whole of the day after 15 minutes through the circuit breaker when Nepse rose by 5 per cent. </div> <div> </div> <div> Stock analysts say that the Nepse witnessed such growth due to the indication of the preliminary election results of the polls that the democratic forces are dominating the upcoming CA. </div> <div> </div> <div> CA polls held in peaceful manner than expected and the indication of democratic forces gaining the majority has made positive impact in the securities market, said Meghnath Upadhyay, Chief Executive Officer of Primo Securities Pvt Ltd. </div> <div> </div> <div> Though the index jumped suddenly as market opened after a long holiday with the news of positive political development due to successful conduct of poll, the market might not rise in similar way in coming days, argued Upadhyaya. </div> <div> </div> <div> “The market is relatively mature in comparison to the past,” he said, adding that the market will move ahead with utmost restraint. </div> <div> </div> <div> The growing possibility of the constitution promulgation after the CA polls has also boosted the confidence of the investors.</div> <div> </div> <div> Due to the transactions held in short time period, there were not any transactions of well-known banks except Nabil Bank last week. The share prices of all 55 companies traded last week observed a gain. </div> <div> </div> <div> While all the sub-indices of all groups surged, the Insurance sector registered a highest gain by 78.36 points closing at 1605.43. Likewise, sub-indices of Hydropower, Others, Banking and Development Banks rose 65.89, 51.68, 38.42 and 2.93 points respectively.</div> <div> </div> <div> Bank of Kathmandu, Nepal Life Insurance Company Ltd, Nepal Bangladesh Bank Ltd, Nabil Bank and Nepal Investment Bank Ltd were the top five highest gainer of the week. 202,698 units of shares of 55 companies through 511 transactions worth Rs 102.6 million were traded during the week. </div> <div> </div> <div> <img alt="Indices" src="/userfiles/images/indices.jpg" style="width: 550px; height: 457px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">Nepse on Sunday</strong></p> </div> <div> The rising trend of the Nepse index for past few trading days continued skyrocketing also on Sunday. Nepse index gained 20.26 points closing at 654.56, while circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day of the week. </div> <div> </div> <div> All sub-groups, except Others, observed the gain in the market. Insurance sector was the highest gainer among the sub-groups with surge of 109 points settling at 1714.43. The index of Others sector went 4.7 points down closing at 769.52 points. A total of 1,290,835 units of shares of 94 companies worth Rs 476 million were traded through 2,952 transactions. </div>', 'published' => true, 'created' => '2013-11-26', 'modified' => '2013-11-26', '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' => 'Nepse index rose 34 points last Thursday- first trading day after the CA polls- closing at 634.3. The share market observed such an impressive surge on a single day after remaining closed for a week due to the Constituent Assembly (CA) polls.', 'sortorder' => '2005', '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' => '2156', 'article_category_id' => '151', 'title' => 'Best Business Schools Reach Out To West', 'sub_title' => '', 'summary' => null, 'content' => '<div> When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies. And some of them even enter capital for better higher secondary schools that provide quality education. However, times have changed. It’s not necessary to leave home in search of good education. Here are two best business schools outside the capital and that too in the western part of the nation. Anyone looking for pursuing business studies can depend on these institutions for all they need from a business school. Yes, if you are from west and looking for pursuing your career further in business sector, you don’t have to look farther than your own region. Here are the two best B-Schools of Western Region. </div> <div> </div> <div> <hr /> <p> <br /> <img alt="Tillotama College" src="/userfiles/images/tc.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></p> </div> <div> <span style="font-size:14px;"><strong>Tilottama Campus</strong></span></div> <div> Tilottama campus was established in 1996 as the first private college in Rupandehi. It has been established by a team of dedicated, experienced and enterprising academicians witha motive to cater for the growing demands of parents and students in the higher education by providing quality education. </div> <div> </div> <div> The college has been running +2 programme in science and management in affiliation with Higher Secondary Education Board (HSEB), Nepal since its establishment. Similarly, it is also running Bachelors in Business Administration (BBA) programme in affiliation with Pokhara University. It has plans to launch Masters in Business Administration (MBA) in the near future.</div> <div> </div> <div> The college has been imparting quality education since its establishment. Its +2 program has been performing exceptionally well and has maintained good results in Higher Secondary Education Board (HSEB) examinations for the past 16 years. Considering its performance, HSEB has awarded it time and again for excellence. </div> <div> </div> <div> Its graduate program has also been equally qualitative. The college feels proud on the high success rate of its BBA students who have been among some of the university toppers for several years. Many of the college pass outs have been employed in reputed corporate houses and organizations. Their recruitment and placement in those organizations speaks for the quality of its BBA program. </div> <div> </div> <div> Faculty members at the college are well experienced with a substantial network outreach with the industrial and commercial sector. These attributes has ensured that any Tillotama’s BBA course student acquire practical and theoretical education and pave way for a successful career in management.</div> <div> </div> <div> Located in the heart of Butwal, Yogikuti, the college has adequate physical infrastructures along with, spacious ground, garden and international standard basket ball court. It has a well equipped science laboratory, computer lab and well furnished library that has text books, research journals and reference materials that provide the students with secured and effective setting for their learning and development.</div> <div> </div> <div> <hr /> </div> <div> </div> <div> <img alt="Crimson College of Technology" src="/userfiles/images/cct.jpg" style="width: 550px; height: 247px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size:14px;"><strong>Crimson College of Technology</strong></span></div> <div> Crimson College of Technology (CCT) is an academic institution that has been providing high-tech education in Butwal, Rupandehi since 2000 AD. Established by a group of dedicated academicians from diverse educational backgrounds, the college provides academic courses for Bachelor in Pharmacy (B.PHARM), BBA, BCA and BCIS affiliated to Pokhara University (PU). </div> <div> </div> <div> CCT is distinguished as an “A Grade College in Employment” in the region. Along with providing industry endorsed education, CCT is committed to inclusive quality assurance culture. It has developed a number of policies and procedures to ensure that the courses and services are of the highest quality in pharmacy education. The college is located in the heart of the city and is linked with East-West highway.</div> <div> </div> <div> The vision of the CCT is to help, develop and produce competent graduates that are groomed to deliver the ever increasing demands of corporate sector around the globe. Its motto “vt prosim” meaning ‘let me be useful’ reflects it objective. Along with academics, the college also stresses on imparting self-discipline, human and spiritual values to the students for their holistic development and change.</div> <div> </div> <div> For continuing its promise of providing state of the art educational environment and syllabus, the institution has been adopting best practices in the area and in-sourcing technologies to aid in their academic courses.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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' => 'When it comes to higher studies, Kathmandu always has remained first choice of students. Availability of various facilities and faculties, students prefer moving to Kathmandu to pursue graduate or post graduate studies.', 'sortorder' => '2004', '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' => '2154', 'article_category_id' => '144', 'title' => 'Victory Of Free Market Economy', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.</div> <div> </div> <div> Early results and trends show parties contesting with ethnic and regional agenda have lost. Political parties having liberal ideologies including centre-right Nepali Congress (NC) and centre-left Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) are heading towards victory. Out of the results declared for 239 of the total 240 seats under the First-Past-the-Post system, the NC has won 105 and UML 91 seats that makes their combined strength 82%. For the proportional representation system votes, UML has secured 28% and NC 26%. This is likely to yield them a very comfortable majority provided they work together. </div> <div> </div> <div> Victory of NC and UML is a good sign for economic reasons too since both parties are positive toward free market economy. While Nepali Congress is considered promoter of free market economy in Nepal, UML too is more favourable to free market than UCPN (Maoist), though some doubts still linger about UML’s tendency towards communist ideological dogma. </div> <div> </div> <div> Sign of victory of NC and UML has already shown positive impact on the share market. Their victory will further help boost confidence of business community due to their liberal policies. Another good aspect is that UML has in its manifesto vowed not to organize any general strike in the coming days. Hope the party sticks to its commitment.</div> <div> </div> <div> Victory of NC and UML have other political repercussions too. With apparent signs that NC and UML will emerge as near-equal forces, many people have started interpreting this result as people’s mandate to adopt two-party system. While it is still premature to conclude that the people have favoured two-party system, it can be safely said that people are not in favour extremist forces if NC and UML will be able to handle the vexing issues regional and ethnic inequalities in a pragmatic way.</div> <div> </div> <div> People also rejected the atrocities by CPN-Maoist (popularly known as dash Maoist) and despite the 10-day long general strike called by it, people came forward and cast their vote. In doing so they snatched away the previous mandate given to the UCPN Maoist, and expressed fresh mandate for peace and prosperity. They did not support political parties that frequently created chaos by resorting to violence. </div> <div> </div> <div> Political parties do not have right terrorize the nation in the name of ‘people’. UCPN (Maoist)’s threat to boycott the new CA shows that they still have to go a long way in proving themselves honest to democracy. Instead of positing their failure on ‘national and international power sources’ it’s time for them to analyze their weaknesses and improve themsemves to face the next election.</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-26', '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 Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.', 'sortorder' => '2003', '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' => '2155', 'article_category_id' => '86', 'title' => 'Prachanda’s Voluntary Disclosure', 'sub_title' => '', 'summary' => null, 'content' => '<div> Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”</div> <div> </div> <div> Prachanda : “No, I am neither tired nor hungry. Rather I am angry with you. However, now I am on the way to the Income Tax Office to make a voluntary disclosure to pave the way to become the President”. <strong> -ML</strong></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'Prachanda was hurrying down the Paris Danda road dresses well as usual. His old Guru, now turned a foe, Mohan Vaidya ‘Kiran’ stopped him and said: “Comrade, I must draw your attention to the fact that your shirt-buttons are undone and your tie knot is very loose like your talks. You look tired and hungry.”', 'sortorder' => '2002', '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' => '2152', 'article_category_id' => '145', 'title' => 'Towards Budget Transparency In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Anirudra Neupane</strong></div> <div> </div> <div> According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency. OBS report for 2012 says Nepal does not produces two of the eight key budget documents. Key eight budget documents include pre-budget statement, executive’s budget proposal, citizens’ budget, enacted budget, in-year reports, mid-year review, annual report and the audit report. Nepal produces six of the eight key budget documents but lacks pre-budget statement and citizens budget. </div> <div> </div> <div> Pre-budget statement is the policy outline for the government’s budget proposal. Priorities of the government, major programmes and projects and tentative weightage given to each programmes by the amount of budget are the important components of pre-budget statement. It is a policy guideline for coming year’s budget. Citizens budget is the non technical presentation of budget proposal so as to make general people understand the main features of government budget. According to IBP, lack of these two documents has limited the opportunity for people to participate in the Nepal’s budget process.</div> <div> </div> <div> There are several areas for improvements on comprehensiveness of existing 6 budget documents. These documents have limited outreach. They are in many cases produced but not timely released. On the other hand role of oversight agencies i.e. parliament and supreme audit institution has also not been utilized to promote public scrutiny on the budget process. </div> <div> </div> <div> Because of these reasons, Nepal’s open budget index has been only 44 in 2012. It was 43 in 2008 and 45 in 2010. Thus IBP has strongly recommended Nepal to undertake following steps:</div> <div> •Produce and publish a pre-budget statement and citizen budget</div> <div> •Increase the comprehensiveness of executive budget proposal</div> <div> • Increase comprehensiveness of in-year report</div> <div> • Increase comprehensiveness of year-end report</div> <div> •Increase comprehensiveness of audit report</div> <div> • Hold consultations with a range of legislators in the process of determining budget priorities</div> <div> •Legislature should have a specialized budget research office </div> <div> • Expand public engagement in budgeting </div> <div> </div> <div> Government should also prepare and publish indexes (inventory) of all budget related documents. The government should give concrete shape to pre-budget discourse by producing and publishing pre-budget statement at least before 30 days of publishing executive’s budget proposal as per international standard. And citizens’ budget should be published with executive’s budget proposal.</div> <div> </div> <div> Demystification of budget document should not be limited to formality. The government should increase comprehensiveness of key budget documents. In order to inform people, the government should build collaboration between government agencies and civil society, particularly budget advocacy groups.</div> <div> </div> <div> Lip service is not enough to ensure budget openness in the country. The government should ensure transparency by preparing budget openness friendly law and policies. The government should consider incorporating all relevant suggestions while drafting fiscal transparency bill because no one has the right to misuse the tax money. </div> <div> </div> <div> <em>(Writer has been conducting research on Public Financial Management in Nepal)</em></div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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' => 'According to bi-annual open budget survey (OBS) on budget transparency of International Budget Partnership (IBP), Nepal’s budget transparency situation is below average. Availability, accessibility and timeliness of budget information are key indicators of budget transparency.', 'sortorder' => '2001', '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' => '2153', 'article_category_id' => '145', 'title' => 'Public Accountability: It's Not Only Banks That Needs Closer Scrutiny', 'sub_title' => '', 'summary' => null, 'content' => '<div> The Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society, as it blundered into an attempt to buy 631 branches of Lloyds with no money in the till. This magical feat of accountancy beggars belief, coming as it did in the wake of the earlier huge bailouts by taxpayers of RBS and Lloyds, similarly blind to the limitations of their capital.</div> <div> </div> <div> It is all too easy to see Flowers as the comic sideshow, now dubbed the crystal Methodist man of the cloth, who has spent years gleefully behaving badly, protected by his dog collar and the old boys' network. His solicitor says his client is now "in a rather ponderous frame of mind". Far more significant is the damage done to a mutual with a proud history of ethical behaviour, now with a £1.5bn hole in the bank's capital and at the mercy of two hedge funds propelled by a very different drive.</div> <div> </div> <div> A danger also exists that Flowers and the mudslinging that currently occupies Labour and the Conservatives will distract from one of the core lessons of the Co-op debacle. Yet again, good governance and a sense of responsibility have been alarmingly absent in thefinancial sector. At the same time, Osborne, in allowing the regulators to appoint a head of their own choice to the inquiry he has instigated, has prompted Lord Myners, city minister during the banking crisis, to condemn "an enfeebled investigation, compromised and emasculated from day one".</div> <div> </div> <div> In the business of the Co-op bank, regulation has clearly been found wanting. In late 2011, the Financial Services Authority, precursor of today's Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) told the Co-op bank that it lacked the management skills and possessed too little capital to make the Lloyds purchase. Yet still the Co-op was involved in a £750m deal to buy the Lloyds branches, incredibly with no dissent from the FSA. On the contrary, the Co-op was applauded by Osborne for "creating a new banking system for Britain that gives real choice to customers and supports the economy".</div> <div> </div> <div> Earlier this year, in the wake of yet another financial scandal in the rigging of the Libor rate, the parliamentary commission on banking standards published its recommendations, optimistically entitled "Changing Banking for Good".</div>', 'published' => true, 'created' => '2013-11-25', 'modified' => '2013-11-25', '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 Reverend Paul Flowers, the former chairman of the Co-op Bank, we are now told, was hugely profligate with expenses, watched pornography on his work computer, hired male prostitutes, paid for crack cocaine and, knowing next to nothing about banking, led the Co-op, already lumbered with the purchase of the Britannia Building Society', 'sortorder' => '2000', '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' => '2138', 'article_category_id' => '109', 'title' => 'Nepse At 4-year-high Against Election Backdrop', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> C<span style="font-size: 12px;">onstituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years. The index increased 19.97 points at the last day of the trading week compared to the opening of the first day. Nepse had opened at 580.45 points on the first day, while it settled at 600.42 on the last day of the week. The last time the Nepse reached such heights was on Oct 26, 2009 when it closed at 599.22 points. Nepse had been witnessing steady decline since then, plunging as low as 292.32 points on June 15, 2011. The Nepse index jumped to 602 points at the middle of the last day (Thursday), but eventually slid to settle at 600.07.</span></div> <div> </div> <div> Nepse, which is in the upward trend for last two weeks, is witnessing the growth as the investors rush for profit booking as the banks are registering healthy first-quarter profits. Last week, not only did the Nepse benchmark rise, the turnover of the market also increased significantly. The market registered a total of Rs 1.5 billion turnover last week. 6,594,781 unit shares were traded in the market floor through 12,826 transactions. The market floor remained open for five days during the week. In terms of transaction amount and number of shares traded, promoter shares of Surya Life Insurance Company topped the market. Nepse index surged all days during the week. Nepse index surged 1 point on the first day closing at 580.45, while on the second day it gained a whopping 10.77 points closing at 591.22. On the third day, it gained 6.82 points settling at 598.04. Likewise, Nepse index rose 2.03 and 0.35 points on fourth (closing at 600.07) and last day (closing at 600.42) respectively. </div> <div> </div> <div> Most of the sub-indices posted a gain during the week. The index of Insurance sector rose the highest by 91.95 points closing at 1526.85. Likewise, sub-indices of Hydropower (52.39), Banks (19.38), Development Banks (14.51), Finance (7.79), Hotel (1.01) and Others (17.62) also rose. However, the sub-indices of the Manufacturing & Production and Trading sectors remained stable. The share prices of 87 companies out of total 123 companies increased, while 13 companies declined during the week. There were not any changes in the share prices of 13 other companies. </div> <div> (With inputs from Jamb Technologies Pvt Ltd)</div> <div> </div> <div> <img alt="" src="/userfiles/images/ind(2).jpg" style="height: 306px; width: 550px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <hr /> <p> <span style="font-size:14px;"><strong>Nepse closed for CA polls</strong></span></p> </div> <div> Nepse has closed due to the public holiday for the Constituent Assembly polls slated for November 19. Investors have remained upbeat due to the positive political climate as the country gears up for the polls. The Nepse has surged to the 4-year high last week due to the increased investment in the market by the investors as the certainty for the CA polls increased after the banda called by the 33-party front led by CPN-Maoist to disrupt the election was found ineffective. The capital market usually gets momentum during elections. The Nepse had witnessed a growth during last two polls in 1999 and 2008. Nepse floor will now open on Thursday (November 21).</div>', 'published' => true, 'created' => '2013-11-21', 'modified' => '2013-11-25', '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' => 'Constituent Assembly polls scheduled for November 19 have proved to be a boon for the Nepali bourse. As the election date draws closer, Nepse index is also making an upward trend. Last week, the benchmark crossed 600 points for the first time in four years.', 'sortorder' => '1999', '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
