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			'title' => 'NC-UML Sweep CA Polls; UCPN (Maoist) Cries Foul',
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			'content' => '<div>
	Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes. As The Corporate went to the press, Nepali Congress has taken the lead towards the first-past-the-post electoral system securing 105 seats, followed by CPN (UML) with 91 seats. The largest party of the erstwhile CA, UCPN (Maoist), however, has trailed far behind with only 25 seats in its kitty. Likewise, Terai Madhes Loktantrik Party and Madhesi Janadhikar Forum Democratic have each secured four seats.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among others, Rastriya Prajatantra Party has won 3 seats, Madhesi Janadhikar Forum Nepal 2, Sadbhawana Party 1, Nepal Workers Peasants Party 1 and Terai Madhes Sadbhawana Party has won 1 seat. Similarly, two independent candidates also managed to secure a berth in the upcoming CA. As the poll results trickled down, UCPN (Maoist) has claimed &lsquo;irregularities&rsquo;, &lsquo;conspiracy&rsquo; and &lsquo;poll rigging&rsquo; to be behind its defeat. Holding a press conference last Thursday, UCPN (Maoist) chairman Pushpa Kamal Dahal has demanded the review of the entire election process. He has also warned to boycott the Constituent Assembly if his party&rsquo;s demand is not met. However, Election Commission, government officials and other parties have ruled out the review of the election process. Carter Center along with other poll observing groups has said that the polls were held in a free and fair manner. As The Corporate went to press on Sunday, the counting of the vote under proportional representation system is going on. Out of 16,72,519 votes counted in various constituencies across the country, CPN (UML) has led the counting with 4,68,426 votes. Likewise, Nepali Congress is following the CPN (UML) with 4, 39,438 votes. UCPN (Maoist), which suffered a big blow towards FPTP system, is in the fourth position with 2,81,338 votes. Rastriya Prajatantra Party-Nepal, a pro-monarchist party, has emerged as a fourth party with 1,35,054 votes.</div>',
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			'description' => 'Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes',
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			'id' => '2150',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (25 November - 01 December)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Fed Plans to Trim Stimulus Soon</strong></span></div>
<div>
	Federal Reserve officials said they plan to begin trimming the central bank&#39;s stimulus efforts in &quot;the coming months&quot;. In the meeting minutes, released on Wednesday, policy makers said they &quot;generally expected that the data would prove consistent with the Committee&#39;s outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months&quot;. They believe that the US recovery is strengthening, according to minutes from their October meeting.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Economic growth Slowing: OECD</strong></span></div>
<div>
	Global growth for 2013 and 2014 has been downgraded &quot;significantly&quot; after weak prospects in emerging markets, says the Organisation for Economic Co-operation and Development. Global GDP this year is now expected to grow by 2.7%, down from 3.1% forecast in May. But it said global economic growth would speed up by 2015.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>JP Morgan in Record $13bn Settlement&nbsp;</strong></span></div>
<div>
	US bank JP Morgan Chase has agreed to a record $13bn (&pound;8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gold Posts Biggest Weekly Loss in 2 Months&nbsp;</strong></span></div>
<div>
	Gold ended little changed on Friday but the metal posted its sharpest weekly drop in more than two months as strong US economic data raised uncertainty over the timing of a slowdown in stimulus measures. Spot gold inched up 31 cents to close at $1,242.66 an ounce. The metal hit a fresh 4-1/2-month low of $1,236.29 in the previous session.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s Gezhouba Completes Hydro Project in Pakistan</strong></span></div>
<div>
	China Gezhouba Group Company recently completed the construction of &nbsp;N-J Hydro-Power Project successfully. Pakistan State Councilor Syed Ahemed appreciated CGGC for completing the project successfully, CGGC&rsquo;s representative in Nepal said in a press release issued on Sunday. &ldquo;CGGC have made great contribution to the N-J hydro power project, I hope the company will continue to work effectively in the days to complete the project successfully,&rdquo; the press release quoted Ahemed as stating during his visit to the project site recently.</div>',
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			'description' => 'US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.',
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			'id' => '2149',
			'article_category_id' => '138',
			'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The group of world&#39;s least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). &nbsp;According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, &ldquo;We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.&rdquo; Malia Talakai, the AOSIS spokesperson for loss and damage, adds, &ldquo;SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,&rdquo; argues Elia del Carmen Guerra of Panama.</div>
<div>
	&nbsp;</div>
<div>
	Patience Damptey, negotiator for the African Group, adds, &ldquo;Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Adao Barbosa, outlining the position of the LDC group, said, &ldquo;If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister concludes for G77, &ldquo;It&rsquo;s unacceptable that some continue to sideline this issue, or fob it off as a &lsquo;research agenda&rsquo; item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world&rsquo;s most vulnerable people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage from climate change is a reality today across the world,&rdquo; says Naderev &ldquo;Yeb&rdquo; Sano, Climate Change Commissioner of the Philippines, &ldquo;My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	He adds: &ldquo;Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40&ndash;50% on 1990 levels, we would still have locked&ndash;in climate change and would still need to address the issue of loss and damage.&rdquo;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC).  According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.',
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			'id' => '2148',
			'article_category_id' => '138',
			'title' => 'World Applauds CA Elections',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div>
<div>
	&nbsp;</div>
<div>
	According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. &ldquo;These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,&rdquo; reads the statement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, neighbouring India also hailed the elections as free and fair. &nbsp;In a press statement, Indian Ministry of External Affairs said, &ldquo;The successful conduct of free and fair elections &nbsp;in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal&rsquo;s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.&rdquo; Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>',
			'published' => true,
			'created' => '2013-11-25',
			'modified' => '2013-11-25',
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			'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.',
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			'id' => '2147',
			'article_category_id' => '138',
			'title' => 'Ambassador Bodde Inaugurates  US Embassy Book Bus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy&rsquo;s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. &nbsp;&quot;Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology,&quot; informed the release. &nbsp;The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Book Bus is an expansion of the US Embassy&rsquo;s seven American Corner libraries located throughout Nepal. &nbsp;&quot;These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike,&quot; said the embassy. &nbsp;The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div>
<div>
	&nbsp;</div>
<div>
	With the help of a partner organization, Quixote&rsquo;s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. &nbsp;Through the Book Bus, books will also be donated to young readers in English and Nepali.</div>',
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			'created' => '2013-11-25',
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			'description' => 'The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.',
			'sortorder' => '1994',
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		'Article' => array(
			'id' => '2146',
			'article_category_id' => '137',
			'title' => '‘South Asian Diaspora Investment Bank Could Supplement SAARC Efforts’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.</div>
<div>
	&nbsp;</div>
<div>
	This is part of the &lsquo;trilateralism idea&rsquo; mooted by former Bangladesh Foreign Minister Iftekhar Chowdhury at the second South Asian Diaspora Convention (SADC) in Singapore today. Chowdhury said the bank could play a role in guiding South Asian diaspora investment, especially in the infrastructure sector, in the region which is a market of 1.8 billion people. Chowdhury told that the 38-million strong South Asian diaspora has an estimated wealth of $1.3 trillion and was looking at new investment opportunities.</div>
<div>
	&nbsp;</div>
<div>
	The diaspora comprising 20 million Indians, 7 million Bangladeshis, 8 million Pakistanis and 3 million Sri Lankans, is estimated to save about $350 billion from their annual estimated earnings of $1 trillion. Yesterday during his address at the SADC, Finance Minister P. Chidambaram called on the Indian diaspora to invest in India and be part of the country&rsquo;s prosperity in his speech at the SADC yesterday. Chowdhury said it is the right time to channel that investment to the South Asian region, given the many politically-impeded challenges being faced by these investors in placing their money in this vast region.</div>
<div>
	&nbsp;</div>
<div>
	He is currently a principal fellow at the Institute of South Asia Studies (ISAS), the organiser of the two-day SADC which ended today. The proposed South Asian Diaspora Investment Bank could be located in one of the international financial centres &mdash; London, New York or Singapore. Chowdhury said the bank&rsquo;s role would bring about a change in the politically-weakened SAARC and could give a big impetus to the regional organisation which has made little progress since its inception.</div>
<div>
	<em>(The Hindu Business Line)</em></div>',
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			'description' => 'An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.',
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		'Article' => array(
			'id' => '2137',
			'article_category_id' => '145',
			'title' => 'Five Years After The Global Crisis, The World Is No Safer',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Pradumna B Rana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he Asian financial crisis of 1997&ndash;98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned. Complacency partially set the stage for the global economic crisis of 2008&ndash;09, and once again, under the auspices of the newly created G20, a large number of policies were announced. Have they been implemented, and has the world become a safer place? Not really.</span></div>
<div>
	&nbsp;</div>
<div>
	This leads to three main reasons for concern. The first is complacency yet again. Five years ago, credit markets were frozen, international trade had fallen off the cliff and the global economy was headed towards a great depression similar to the one experienced in the 1930s. There was an acute sense of urgency; the major economic powers agreed to coordinate monetary and fiscal policies. These efforts were successful and instead of a global depression the world experienced &lsquo;the great recession&rsquo;.</div>
<div>
	&nbsp;</div>
<div>
	Now financial markets no longer pose an immediate systemic threat. But the global economy is far from healthy; it is operating well below capacity, with millions unemployed. Policy coordination is still required, but is difficult to obtain. While the G20 made substantial progress in global economic reforms during its first three summits &mdash; that is, until the Pittsburgh summit &mdash; it is now headed towards obsolescence.</div>
<div>
	&nbsp;</div>
<div>
	The second reason for lack of progress in global reforms is the reluctance of the United States to give up its veto power and control of the IMF. In 1944, the United States, as the global hegemon of the time, helped establish multilateral rules, including those for finance and the IMF. This led to financial stability and unprecedented economic prosperity, not only for members of the club but also in other countries around the world &mdash; especially in the BRICS.</div>
<div>
	&nbsp;</div>
<div>
	Given their growing economic footprint in the world economy, the BRICS now desire a greater voice and say in running the IMF, but some members are reluctant to allow this. This is because, like many other clubs, the IMF is designed in such a way that founding members ultimately maintain control. Hence, one of the centrepieces of the proposed global reforms, namely the G20 pledge to transfer 6 per cent of quota and voting power at the IMF to large emerging markets, cannot be implemented.</div>
<div>
	&nbsp;</div>
<div>
	The third reason for limited progress in reforms is the relatively weak cohesion within the BRICS. The establishment of the G20 in the aftermath of the global economic crisis has given the BRICS a historically unprecedented opportunity to sit around the high table with G7 member states and participate in discussions on international economic policies as key stakeholders. But the BRICS have become &lsquo;BRICS without mortar&rsquo;. For example, when the position of IMF managing director became vacant last year, even though it was well known that the IMF tradition of locking out non-Europeans would be strongly protected, the BRICS should have quickly made a claim for the position, fielded a top-rate candidate and provided a strong backing. But that did not happen. The BRICS claim came late &mdash; perhaps as an after-thought.</div>
<div>
	&nbsp;</div>
<div>
	For the above reasons, many of the proposed global reforms have not been implemented and the world is not much safer now than it was before the global economic crisis. How might the situation evolve in the future? It depends on how global politics plays out among the various actors.</div>
<div>
	&nbsp;</div>
<div>
	Recent economic turmoil has demonstrated beyond doubt that unfettered global markets and greed are a dangerous cocktail that can lead to &lsquo;elite&rsquo; capture and insider trading and put global prosperity at risk. A more legitimate multilateral rules-based system is one of the best ways to ensure that the benefits of globalisation are shared in an equitable manner. Another way is to move to a more decentralised architecture with global and regional institutions working together in a complementary manner. Compromises must therefore be struck so that economies can move towards either one of these two systems. The world would then become a safer place.</div>
<div>
	&nbsp;</div>
<div>
	If the United States decides to shun post-war multilateralism and go for preferential deals with like-minded countries instead, then the global order could fall apart. The world would then be back to the &lsquo;beggar thy neighbour&rsquo; policies of the 1930s to the detriment of all, including the United States and the BRICS. US interest in negotiating the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership is a dark cloud on the horizon. Regional schemes, if well designed, can be stepping stones to multilateralism: let us hope that the desire of the United States in pursuing these schemes is not to lock out other countries &mdash; especially China and India.</div>
<div>
	&nbsp;</div>
<div>
	<em>(Pradumna B. Rana is Associate Professor in International Political Economy at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University.)</em></div>
<div>
	&nbsp;</div>
<div>
	Source: East Asia Forum, http://www.eastasiaforum.org/2013/11/15/five-years-after-the-global-crisis-the-world-is-no-safer/</div>',
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			'description' => 'The Asian financial crisis of 1997–98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned.',
			'sortorder' => '1992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2136',
			'article_category_id' => '91',
			'title' => 'CA Polls: The Expense  For Peace And Constitution',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	W<span style="font-size: 12px;">ith the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Political parties and their candidates have made hefty commitments on new constitution drafting and made lofty promises of development to lure voters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite the failure of the first CA to draft a new constitution, stakes of politicos are looking pretty high this time. This election has the potential to change the current political equation. The change may come in the form of emergence of new political powers along with the obliteration of some. Whereas, voters are looking much confused haunted by the memories of first CA&rsquo;s unfortunate demise.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After the first CA election, Nepal witnessed a tense period of rising disputes among the major political parties that slashed the hopes of ordinary citizens leaving the country into a state of uncertainty and political disarray. According to official documents, more than Rs 15 billion, was spend within 4 years on constitution drafting process including the first CA election held in 2008 April.</div>
<div>
	&nbsp;</div>
<div>
	The estimated amount does not include the funds allocated for peace process (integration of former Maoists combatants) which reached over Rs 3 billion. Though, the size of total spending is disputed, various figures claim that the expenditures can be counted in tens of billions of rupees.</div>
<div>
	&nbsp;</div>
<div>
	However, after the CA was dissolved last year by the Dr Babu Ram Bhattarai-led government, the huge investment made in drafting a new constitution was seen as sheer waste of money. Skepticism about the new CA to complete its task remains high in the air. In this context question are being raised strongly on new CA&rsquo;s ability to deliver a new constitution and whether the huge spending was worthwhile.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The constitution drafting process of Nepal has become the most expensive one in the world. The country would have witnessed dramatic development and prosperity if that money was invested in productive sectors,&rdquo; said Suraj Vaidya, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</div>
<div>
	&nbsp;</div>
<div>
	Vaidya was speaking to reporters last week in an &lsquo;open press meet&rsquo; held at Durbarmarg, Kathmandu to inform about the FNCCI&rsquo;s protest programme against the general strike and transportation shutdown organised by the poll opposing alliance. Economists are also cautioning the political players to become more responsible as the rising election expenditure is likely hold back the economic growth of the country if the new CA fails to draft a new constitution. &ldquo;The election expenditure will easily reach Rs 30 billion this time which was initially allocated at Rs 16 billion in the budget of the current fiscal year 2013/14,&rdquo; opined Prof Dr Bishwambher Pyakuryal. According to him, the rise in expenditure will reach 6 per cent of the total budget.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The spending can be taken as gainful investment only if a new constitution is drafted and if the country achieves political and economic stability,&rdquo; said Pyakuryal adding, &ldquo;If that does not happen then we need serious discussions about the possible impacts of election expenditures on Nepal&rsquo;s economy.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Apart from the government&rsquo;s expenditure, the mammoth size of spending of political parties and candidates is also making the election more expensive. According to the Election Commission, 6,128 candidates are contesting for 240 constituencies across the country in the first-past-the-post or FPTP electoral process. Similarly, 10,400 candidates are listed as candidates for the proportional representation (PR) seats.</div>
<div>
	&nbsp;</div>
<div>
	In this regard the total spending of candidates (both FPTP and PR) can be counted at Rs 6.90 billion, assuming that they will spend as per the EC&rsquo;s directive. According to EC&rsquo;s directive, a FPTP candidate can spend a maximum of Rs 1 million in his/her constituency whereas the spending ceiling of a PR contender is maxed at Rs 75,000.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Election Commission does not have effective monitoring mechanism to control election fraud and excessive expenditure by candidates. EC spokesperson Bir Bahadur Rai said that there is no formal complaint against candidate pertaining to their expenses so far. He suggested to ask EC Chief Commissioner to ask about frauds by candidate and denied to comment on the issue.</div>',
			'published' => true,
			'created' => '2013-11-20',
			'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' => 'With the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).',
			'sortorder' => '1991',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '2095',
			'article_category_id' => '137',
			'title' => 'Nepal Gains In Global Prosperity Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>--By TC Correspondent</strong></div>
	<div>
		&nbsp;</div>
	<div>
		D<span style="font-size: 12px;">espite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal&rsquo;s progress mainly in the area of personal freedom. &nbsp;Nepal scored 77 points in the personal freedom sub-index which includes sections such as civil liberties and tolerance among ethnic groups. The sub-index highlights more freedom of choice for ordinary Nepalis and ethnic harmony in the country. The Legatum Prosperity Index has been benchmarking 142 countries since 2007 in 8 distinct sub-indices: economy, education, entrepreneurship and opportunity, governance, health, personal freedom, safety and security and social capital.&nbsp;</span></div>
	<div>
		&nbsp;</div>
	<div>
		Nepal&rsquo;s economic performance was not seen satisfactory as the country declined 5 places to 92nd position in economy sub-index, mainly because of decline in its gross domestic savings. Nepal also moved down in the safety and security sub-index, by 17 places to 101st due to increase in state violence and the number of refugees. Similarly, Nepal also did not fare well in entrepreneurship and opportunity as the country was placed at 111th position in the sub-index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal ranked 100th in governance, 104th in education, 97th in health and 95th in social capital sub-indices. However, Nepal ranked above India, Bangladesh and Pakistan in the overall index. Bangladesh ranked below Nepal at 103rd position whereas India was placed at 106th in the index. Bangladesh ranks above India in the index for the first time in 2013. Although Bangladesh&rsquo;s rank has remained constant since last year, India has declined five places in the same period. India has fallen down the Prosperity Index rankings consistently over the last five years. Pakistan was the lowest ranking country in the entire Asia-Pacific region with 132nd position whereas China stood at 51st in the index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Norway ranks first in overall Prosperity, as it has since 2009, confirming its place as the most prosperous country in the world for the fifth consecutive year. The country also ranks first in the economy and social capital sub-index in 2013. Switzerland, Canada, Sweden and New Zealand secured 2nd, 3rd, 4th and 5th position respectively. Meanwhile, US ranked 11th in the index. &nbsp;US moved down four places to 24th in the Economy sub-index. Countries that have overtaken the US in the economy sub-index include New Zealand (17th) and South Korea (19th), among others. The UK has moved down three places to 16th in overall Prosperity, as a result of decreases in the rankings for six out of eight sub-indices since last year. The UK has been leapfrogged by Austria (15th), Germany (14th), and Iceland (13th).</div>
</div>',
			'published' => true,
			'created' => '2013-11-11',
			'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' => 'Despite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal’s progress mainly in the area of personal freedom.',
			'sortorder' => '1990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '2141',
			'article_category_id' => '48',
			'title' => 'Manifestation Of Everything',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Madan Lamsal</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="NO Laughing Matter" src="/userfiles/images/nlm%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 409px;" />Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon. In ancient times, men and women manifested their parts of attractive bodies to entice the opposite sex. In modern cinema civilization, you know better how the issue of manifestations has been debated as part aesthetics or sex. If you watch a well-manifested cinema, you talk more about it than the storyline it carried.</div>
<div>
	&nbsp;</div>
<div>
	On duty-side as well, the principle of enticement has not changed much. For instance take Nepal&rsquo;s political parties&rsquo;, that are contesting the Constituent Assembly (CA) elections, hope to hold CA elections in the month of November. They have made their supposedly election manifestoes public and all of them seem to be greatly influenced by the tinsel town concept of selling the cinema inserting some more manifestations in the story. Political heroes also probably forgot the storyline that they are going to write the constitution through the new CA. Their indulgence in the act of enticement by overt manifestation of the to-do-list in CA elections manifestoes establishes nothing else.</div>
<div>
	&nbsp;</div>
<div>
	No credible commitment is found expressed in manifestoes to write a constitution that guarantees the rights of the people. But, regardless of whether constitution would be actually written or not, these manifestoes instead surely promise you everything possible from prostitute to prosperity. If you are on the plank of arguing that, prosperity cannot be promised without writing a new democratic constitution, then you don&rsquo;t understand the culture of political prostitution that is in vogue in Nepal. You never know which leader will partner with which party during the day and the same leader will lean to other party during the night.</div>
<div>
	&nbsp;</div>
<div>
	But, without worrying much about the constitution, if you look at the list of promises made by these manifestoes, you are sure to relish. Everything to everyone, that&rsquo;s how you can sum-up these manifestoes. Home to homeless, power to politicos, tax rebate to tax evading community, partners to young, food to humans, feed to animals, cloths to kids, cure to olds, power connection to houses, empowerment to housewives, love to poor and luxury to riches. The list is so long that, you will be bored if all of them are copied here. You can actually call it your own wish-list.</div>
<div>
	&nbsp;</div>
<div>
	No doubt, the political parties and political leaders are doing the right thing. The private sector of Nepal had long complained that the political leadership has ignored the economic and developmental concerns of Nepal. But these manifestoes have compensated all past lacunae of these sorts. In fact, this time around, all they have done is, shown utmost concern only to the economy and prosperity of the country, nothing else.</div>
<div>
	&nbsp;</div>
<div>
	This is very right strategy to adopt. Because, by this, both the new constitution and the prosperity can be ensured simultaneously. It is natural for them not to worry about constitution and mention its whats and hows in their manifestoes. Every Nepali is well aware that our sovereign constitution is being written with great care, by great experts, somewhere in the world. Could be, it is done in more than one place and we lucky Nepali will have chance to chose the best instant constitution from a fairly long menu. We will get to see it when it is brought here, ready to be implemented.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, it is pointless to ask how our leaders are going to fulfill such an extraordinarily long list of promises without arranging resources and plans. Their duty is just to make the list, not to consider about the feasibility and finance of the related projects. For that, we again know, money will come from the same window where the constitution would be coming.</div>
<div>
	&nbsp;</div>
<div>
	My only last confusion is: whom to vote whereas all manifestoes look the same? Oh yeh! I can console saying that every party in Nepal is not different in vital issues. That is manifested!</div>',
			'published' => true,
			'created' => '2013-11-24',
			'modified' => '2013-11-24',
			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon.',
			'sortorder' => '1989',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2135',
			'article_category_id' => '150',
			'title' => 'Business Briefs (11 - 17 November 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Ncell introduces Facebook pack</strong></span></div>
<div>
	Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market. It offers the customers with a choice to subscribe data service for using Facebook only. The pack will be available on a daily, weekly and monthly basis and the customers can subscribe to any one of them as per their requirement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Kobe LED TVs in Market</strong></span></div>
<div>
	Bhajuratna Electronics Pvt Ltd has introduced Kobe LED TVs in the market. According to the company, the TVs are targeted to those customers who want LED TVs at an affordable price. The TVs are available in 22 and 32 inch sizes, and have features like 3d Comb Filter, Dynamic Noise Reduction, Hotel Mode, Volume Leveller, Cinema Zoom, USB High Speed 2.0, Eco Vision and HDMI. The TVs will be made available through 14 showrooms throughout the country. The company is giving out a warranty of one year on both the models of TVs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Hero Announces Winners&nbsp;of Dashain Tihar Offer</strong></span></div>
<div>
	General Marketing Pvt Ltd, the authorized distributors of Hero motorcycles for Nepal has announced the winners of second lucky draw of its Dashain and Tihar offer &lsquo;Hero Blockbuster Deal&rsquo;. The three winners have won Rs 100,000, Rs 75,000 and Rs 50,000 from the lucky draw.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Colors&rsquo; New Handsets&nbsp;</strong></span></div>
<div>
	Colors Mobile has introduced two new handsets, Star 3G (X- 30) under its star series phones and new X-Factor Idol (X-16) in the market. Colors Star 3G is powered by 1.2 GHz dual core processor and comes with 3.5 inch capacitive multi-touch screen, front and rear cameras and 1200 mAh battery. Colors Idol (X-16) is a dual SIM phone that runs on Android 2.3 and is powered by a 1 GHz processor, and has 512 MB of ROM and 256 MB of RAM.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsara Joins Hands Al Ansari&nbsp;</strong></span></div>
<div>
	Samsara Money Transfer has entered into an agreement with UAE based Al Ansari Exchange. Following the agreement, money could be received from any branches of Samsara in Nepal sent from the Al Ansari Exchange in UAE. Executive Vice Chairman of Samsara Jeewan Babu Shrestha and Rashed A. Al Ansari, General Manager of the Al Ansari Exchange, signed an agreement to this effect recently. Samsara claims that it has more than 1 thousand 8 hundred agents across Nepal.</div>',
			'published' => true,
			'created' => '2013-11-12',
			'modified' => '2013-11-24',
			'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' => 'Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market.',
			'sortorder' => '1988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2140',
			'article_category_id' => '151',
			'title' => 'Higher Studies In Crisis Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis. Responding to this necessity, recently a complete course on Crisis Management has been introduced in Nepal for the first time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Samarpan Academy - Institute of Crisis Management Studies (ICMS) has launched Masters Degree in Crisis Management &nbsp;course &lsquo;Masters in Crisis Management&rsquo; (MCM) in affiliation with &nbsp;Tribhuwan University. The college&rsquo;s management is presided by Dr Ram Thapaliya, a PhD holder in Crisis Management. Balananda Sharma, fLieutenant General (Rtd) of Nepal Army, is the principal of the college. Sharma played key role in the management, rehabilitation and integration of the Maoist combatants as coordinator of the secretariat of the Army Integration Special Committee (AISC). &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other key figures behind the college are Former Inspector General of Police Sanat Basnet, Immediate past President of &nbsp;Federation of Nepalese Chambers of commerce and Industry (FNCCI) &nbsp;Kush Kumar Joshi, Nepali Congress Leader Nabindra Raj Joshi, UCPN-Maoist leader Khimlal Devkota, CPN UML Leader Shanti Adhikari and Dr. Shivaji Yadav..&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Elaborating on the objective of the institution, Principal Sharma said that the sole motive behind introducing the course is to minimize consequences of crisis by managing it &nbsp;rather than to make profit. &ldquo;This is an experience sharing institute,&rdquo; he says. &ldquo;If a crisis can be managed systematically, we can minimize the consequences a lot.&rdquo; Sharma claims that Crisis Management students are salable in international market too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Course Specs</strong></div>
<div>
	Students who have completed &nbsp;bachelor&rsquo;s level with at least 2nd division are eligible to enroll for this course. The course includes basic knowledge on crisis management, various types of crisis that Nepal has been through and case studies on various international crisis incidents. The college is planning to enroll 20-30 students in its first batch and has long term plans to extend its capacity to enroll 40-50 students in each batch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>International Students&nbsp;</strong></div>
<div>
	The college is looking forward to teach international students too. &ldquo;Developed countries in west want to study about developing countries as the latter face different types of crisis,&rdquo; Sharma says adding, &ldquo;International teachers too want to come here to teach this course&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Fee Structure</strong></div>
<div>
	Four-semester course fee for a Nepali student is set at Rs 515,500. Similarly, it is Rs 817,600 for students from SAARC region and USD 10,000 for students from other countries. &ldquo;There is a provision for scholarship for genuine and needy,&rdquo; said Sharma.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis.',
			'sortorder' => '1987',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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	(int) 12 => array(
		'Article' => array(
			'id' => '2139',
			'article_category_id' => '134',
			'title' => '“We Are Not Here To Complain.  We Are Here To Achieve”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">Turkish Airlines took to the skies 80 years ago as Turkey&rsquo;s flag carrier. It was started with the goal of becoming one of Europe&rsquo;s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September. According to the airlines, roundtrip flights between Istanbul and Kathmandu are operated 4 times per week on Tuesdays, Thursdays, Fridays and Sundays from Istanbul, and Mondays, Wednesdays, Fridays and Saturdays from Kathmandu. In an interview with <em>The Corporate&rsquo;s <strong>Siromani Dhungana</strong></em>, General Manager of Turkish Airlines <strong><em>Celal Baykal</em></strong> explains the journey of Turkish airlines in Nepal while also highlighting the future plans of this airline. <strong>Excerpt:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What attracted Turkish Airlines &nbsp;for launching its services in Nepal?</strong></div>
<div>
	We officially started our airline in Nepal from September, this year. The reason why we are here is that we are trying to operate in as many countries as &nbsp;we can so as &nbsp;to be an airline reaching many destinations all over the world. Similarly, we want to expand our network because we want to be a network generator. We particularly chose Nepal because of its huge potential. Nepal was already in our plan for many years. But, it took some time to arrange everything and now finally we are operating in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Can you please describe the background of your decision to come to Nepal?</strong></div>
<div>
	Yes, I remember those days very well. Expanding reach to a new country involves a lot of research and know-how to gather a lot of information about the country and you have to analyze it as soon as possible. The first thing I did was to get in touch with colleagues in the business environment. I developed connections with my sectoral colleagues who have been working in Nepal and also with people who have visited Nepal before. Coming to Asia and in Nepal was itself something new for me. I was in Amsterdam. So, if it is a big change, it is also a challenge in my career providing me with numerous opportunities to learn about markets all over the world.</div>
<div>
	&nbsp;</div>
<div>
	<strong>How has the journey for Turkish airlines in Nepal been so far?</strong></div>
<div>
	We are doing quite well. I cannot put anything negative yet. Our flights are almost fully booked and sometimes we have over-bookings. There is a lot of potential in Nepal and we need to focus on that. There are so many places with natural landscapes and thus viable for natural tourism. Considering these prospects, we are aspiring to do much more in Nepal in the&nbsp;</div>
<div>
	near future.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What do you have to say about market competition in Nepal?</strong></div>
<div>
	Competition is ever-present in any field. If there is no competition, you become weak. So, I consider competition to be beneficial. We have been working in the market regardless of competition. This was the same in Amsterdam too, where I worked before. As an airline, we are used to lot of competition.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are your strategies to expand your market here in Nepal?</strong></div>
<div>
	We want to strongly increase our presence but, we don&rsquo;t know where and what the time will be. In the near future, we will surely increase our frequencies. There are some places where we want to expand and one of these places is Nepal. We have just begun our services here and we definitely intend to do more in the future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Where do you see yourself in 5 years?</strong></div>
<div>
	In 5 years time, we will be able to understand the market more closely and it is sure to make a difference in my personal career as well. We will learn about the cultures here and incorporate it in our business strategy.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are the complications of conducting business in Nepal?</strong></div>
<div>
	We do not keep looking at problems but, ways to solve them. If you talk about problems, you can continue talking about them for years. We are here to achieve, not to complain. We are here to make a difference. Looking at Nepal&rsquo;s human resource, I can say there is no much difference in terms of quality of people. Though there are some differences between working in Amsterdam and in Nepal, but I am confident that I can rely on Nepali colleagues to get through it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What assurances do you give about the service standards of your airline?&nbsp;</strong></div>
<div>
	We have already won some awards, especially the ones related to hospitality and that is our day to day experience. We also won the best kitchen in business class and even in the economy class. We are still investing in our catering and in some areas, we have also tried changing our catering services for responding to our consumers need. &nbsp;</div>',
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			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Turkish Airlines took to the skies 80 years ago as Turkey’s flag carrier. It was started with the goal of becoming one of Europe’s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September.',
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	(int) 13 => array(
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			'id' => '2091',
			'article_category_id' => '91',
			'title' => 'Election Boosting National Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Financial experts have claimed that CA election will spur the national economy. Government and non-government officials have claimed that the national economy will benefit from the expenditure made by the government, political and non-political organizations and electoral candidates.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp; &ldquo;The expenditures in election can be taken as investment in the country&rsquo;s economy,&rdquo; says Finance Minister Shanker Prasad Koirala. He said that the upcoming election will boost economic activities of political parties and help to flow their savings in the market.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;The money being used in the election process will ultimately go to the private sector,&rdquo; said Koirala adding, &ldquo;The election process is also likely to increase the recurrent expenditure and that will positively impact Nepal&rsquo;s economy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However Koirala noted that the election process is unlikely to boost the capital expenditure citing that most of the government funded projects are halted for the time being.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dr Chiranjivi Nepal, Economic Advisor at the Ministry of Finance, also expressed similar views. &ldquo;Injecting extra money into the market, increase in demand and supply of goods and services will lead to increase in domestic production,&rdquo; he said. &nbsp;However, Dr Nepal also cautioned of rise in inflation as more money is being poured into the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Election campaign expenditures of election candidates is another contributor in spurring the local economy. Aggressive electoral campaign of CA candidates have shown significant activities in the service sector that includes businesses such as hotels/restaurants, airlines and transport services. The campaigns have also considerably raised the print business in the recent days along with the increase in the supply of paper, utensils and printing materials. The Election Commission (EC) has capped the campaigning expenditure of a candidate in each constituency at Rs 1 million. With 240 constituencies, the total campaigning expenses is estimated to be around Rs 240 million, even if it is assumed that only a single candidate is contending. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Expenditures are high also on the government&rsquo;s end. The government has allocated Rs 16 billion budget for entire CA election process in the current fiscal budget. The first CA election held on April 10, 2008 saw a disbursement of Rs 6 billion from the government fund. According to the Election Commission of Nepal (EC), the expenditure also includes hiring of temporary security personnel to assist in the elections. On October 22, the government recruited 45,000 temporary police personnel for a 45-day time period. This temporary employment will also boost the domestic economy.&nbsp;</div>',
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			'created' => '2013-11-10',
			'modified' => '2013-11-24',
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			'description' => 'Nepal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.',
			'sortorder' => '1985',
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			'id' => '2112',
			'article_category_id' => '109',
			'title' => 'Nepse Observes Meager Gain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. &nbsp;The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div>
<div>
	&nbsp;</div>
<div>
	The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the &nbsp;Hotel sector index also increased &nbsp;by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Nepse on Sunday</strong></p>
</div>
<div>
	Nepse index inclined 1 point on the first day of this week closing at 580. &nbsp;A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div>
<div>
	&nbsp;</div>
<div>
	Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. &nbsp;Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>',
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			'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.',
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		'Article' => array(
			'id' => '2151',
			'article_category_id' => '140',
			'title' => 'NC-UML Sweep CA Polls; UCPN (Maoist) Cries Foul',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes. As The Corporate went to the press, Nepali Congress has taken the lead towards the first-past-the-post electoral system securing 105 seats, followed by CPN (UML) with 91 seats. The largest party of the erstwhile CA, UCPN (Maoist), however, has trailed far behind with only 25 seats in its kitty. Likewise, Terai Madhes Loktantrik Party and Madhesi Janadhikar Forum Democratic have each secured four seats.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among others, Rastriya Prajatantra Party has won 3 seats, Madhesi Janadhikar Forum Nepal 2, Sadbhawana Party 1, Nepal Workers Peasants Party 1 and Terai Madhes Sadbhawana Party has won 1 seat. Similarly, two independent candidates also managed to secure a berth in the upcoming CA. As the poll results trickled down, UCPN (Maoist) has claimed &lsquo;irregularities&rsquo;, &lsquo;conspiracy&rsquo; and &lsquo;poll rigging&rsquo; to be behind its defeat. Holding a press conference last Thursday, UCPN (Maoist) chairman Pushpa Kamal Dahal has demanded the review of the entire election process. He has also warned to boycott the Constituent Assembly if his party&rsquo;s demand is not met. However, Election Commission, government officials and other parties have ruled out the review of the election process. Carter Center along with other poll observing groups has said that the polls were held in a free and fair manner. As The Corporate went to press on Sunday, the counting of the vote under proportional representation system is going on. Out of 16,72,519 votes counted in various constituencies across the country, CPN (UML) has led the counting with 4,68,426 votes. Likewise, Nepali Congress is following the CPN (UML) with 4, 39,438 votes. UCPN (Maoist), which suffered a big blow towards FPTP system, is in the fourth position with 2,81,338 votes. Rastriya Prajatantra Party-Nepal, a pro-monarchist party, has emerged as a fourth party with 1,35,054 votes.</div>',
			'published' => true,
			'created' => '2013-11-25',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes',
			'sortorder' => '1998',
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			'id' => '2150',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (25 November - 01 December)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Fed Plans to Trim Stimulus Soon</strong></span></div>
<div>
	Federal Reserve officials said they plan to begin trimming the central bank&#39;s stimulus efforts in &quot;the coming months&quot;. In the meeting minutes, released on Wednesday, policy makers said they &quot;generally expected that the data would prove consistent with the Committee&#39;s outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months&quot;. They believe that the US recovery is strengthening, according to minutes from their October meeting.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Economic growth Slowing: OECD</strong></span></div>
<div>
	Global growth for 2013 and 2014 has been downgraded &quot;significantly&quot; after weak prospects in emerging markets, says the Organisation for Economic Co-operation and Development. Global GDP this year is now expected to grow by 2.7%, down from 3.1% forecast in May. But it said global economic growth would speed up by 2015.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>JP Morgan in Record $13bn Settlement&nbsp;</strong></span></div>
<div>
	US bank JP Morgan Chase has agreed to a record $13bn (&pound;8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gold Posts Biggest Weekly Loss in 2 Months&nbsp;</strong></span></div>
<div>
	Gold ended little changed on Friday but the metal posted its sharpest weekly drop in more than two months as strong US economic data raised uncertainty over the timing of a slowdown in stimulus measures. Spot gold inched up 31 cents to close at $1,242.66 an ounce. The metal hit a fresh 4-1/2-month low of $1,236.29 in the previous session.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s Gezhouba Completes Hydro Project in Pakistan</strong></span></div>
<div>
	China Gezhouba Group Company recently completed the construction of &nbsp;N-J Hydro-Power Project successfully. Pakistan State Councilor Syed Ahemed appreciated CGGC for completing the project successfully, CGGC&rsquo;s representative in Nepal said in a press release issued on Sunday. &ldquo;CGGC have made great contribution to the N-J hydro power project, I hope the company will continue to work effectively in the days to complete the project successfully,&rdquo; the press release quoted Ahemed as stating during his visit to the project site recently.</div>',
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			'description' => 'US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.',
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		'Article' => array(
			'id' => '2149',
			'article_category_id' => '138',
			'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The group of world&#39;s least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). &nbsp;According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, &ldquo;We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.&rdquo; Malia Talakai, the AOSIS spokesperson for loss and damage, adds, &ldquo;SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,&rdquo; argues Elia del Carmen Guerra of Panama.</div>
<div>
	&nbsp;</div>
<div>
	Patience Damptey, negotiator for the African Group, adds, &ldquo;Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Adao Barbosa, outlining the position of the LDC group, said, &ldquo;If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister concludes for G77, &ldquo;It&rsquo;s unacceptable that some continue to sideline this issue, or fob it off as a &lsquo;research agenda&rsquo; item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world&rsquo;s most vulnerable people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage from climate change is a reality today across the world,&rdquo; says Naderev &ldquo;Yeb&rdquo; Sano, Climate Change Commissioner of the Philippines, &ldquo;My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	He adds: &ldquo;Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40&ndash;50% on 1990 levels, we would still have locked&ndash;in climate change and would still need to address the issue of loss and damage.&rdquo;</div>',
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			'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC).  According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.',
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		'Article' => array(
			'id' => '2148',
			'article_category_id' => '138',
			'title' => 'World Applauds CA Elections',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div>
<div>
	&nbsp;</div>
<div>
	According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. &ldquo;These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,&rdquo; reads the statement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, neighbouring India also hailed the elections as free and fair. &nbsp;In a press statement, Indian Ministry of External Affairs said, &ldquo;The successful conduct of free and fair elections &nbsp;in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal&rsquo;s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.&rdquo; Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>',
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			'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.',
			'sortorder' => '1995',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2147',
			'article_category_id' => '138',
			'title' => 'Ambassador Bodde Inaugurates  US Embassy Book Bus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy&rsquo;s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. &nbsp;&quot;Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology,&quot; informed the release. &nbsp;The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Book Bus is an expansion of the US Embassy&rsquo;s seven American Corner libraries located throughout Nepal. &nbsp;&quot;These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike,&quot; said the embassy. &nbsp;The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div>
<div>
	&nbsp;</div>
<div>
	With the help of a partner organization, Quixote&rsquo;s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. &nbsp;Through the Book Bus, books will also be donated to young readers in English and Nepali.</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 Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.',
			'sortorder' => '1994',
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	(int) 5 => array(
		'Article' => array(
			'id' => '2146',
			'article_category_id' => '137',
			'title' => '‘South Asian Diaspora Investment Bank Could Supplement SAARC Efforts’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.</div>
<div>
	&nbsp;</div>
<div>
	This is part of the &lsquo;trilateralism idea&rsquo; mooted by former Bangladesh Foreign Minister Iftekhar Chowdhury at the second South Asian Diaspora Convention (SADC) in Singapore today. Chowdhury said the bank could play a role in guiding South Asian diaspora investment, especially in the infrastructure sector, in the region which is a market of 1.8 billion people. Chowdhury told that the 38-million strong South Asian diaspora has an estimated wealth of $1.3 trillion and was looking at new investment opportunities.</div>
<div>
	&nbsp;</div>
<div>
	The diaspora comprising 20 million Indians, 7 million Bangladeshis, 8 million Pakistanis and 3 million Sri Lankans, is estimated to save about $350 billion from their annual estimated earnings of $1 trillion. Yesterday during his address at the SADC, Finance Minister P. Chidambaram called on the Indian diaspora to invest in India and be part of the country&rsquo;s prosperity in his speech at the SADC yesterday. Chowdhury said it is the right time to channel that investment to the South Asian region, given the many politically-impeded challenges being faced by these investors in placing their money in this vast region.</div>
<div>
	&nbsp;</div>
<div>
	He is currently a principal fellow at the Institute of South Asia Studies (ISAS), the organiser of the two-day SADC which ended today. The proposed South Asian Diaspora Investment Bank could be located in one of the international financial centres &mdash; London, New York or Singapore. Chowdhury said the bank&rsquo;s role would bring about a change in the politically-weakened SAARC and could give a big impetus to the regional organisation which has made little progress since its inception.</div>
<div>
	<em>(The Hindu Business Line)</em></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' => 'An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.',
			'sortorder' => '1993',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2137',
			'article_category_id' => '145',
			'title' => 'Five Years After The Global Crisis, The World Is No Safer',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Pradumna B Rana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he Asian financial crisis of 1997&ndash;98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned. Complacency partially set the stage for the global economic crisis of 2008&ndash;09, and once again, under the auspices of the newly created G20, a large number of policies were announced. Have they been implemented, and has the world become a safer place? Not really.</span></div>
<div>
	&nbsp;</div>
<div>
	This leads to three main reasons for concern. The first is complacency yet again. Five years ago, credit markets were frozen, international trade had fallen off the cliff and the global economy was headed towards a great depression similar to the one experienced in the 1930s. There was an acute sense of urgency; the major economic powers agreed to coordinate monetary and fiscal policies. These efforts were successful and instead of a global depression the world experienced &lsquo;the great recession&rsquo;.</div>
<div>
	&nbsp;</div>
<div>
	Now financial markets no longer pose an immediate systemic threat. But the global economy is far from healthy; it is operating well below capacity, with millions unemployed. Policy coordination is still required, but is difficult to obtain. While the G20 made substantial progress in global economic reforms during its first three summits &mdash; that is, until the Pittsburgh summit &mdash; it is now headed towards obsolescence.</div>
<div>
	&nbsp;</div>
<div>
	The second reason for lack of progress in global reforms is the reluctance of the United States to give up its veto power and control of the IMF. In 1944, the United States, as the global hegemon of the time, helped establish multilateral rules, including those for finance and the IMF. This led to financial stability and unprecedented economic prosperity, not only for members of the club but also in other countries around the world &mdash; especially in the BRICS.</div>
<div>
	&nbsp;</div>
<div>
	Given their growing economic footprint in the world economy, the BRICS now desire a greater voice and say in running the IMF, but some members are reluctant to allow this. This is because, like many other clubs, the IMF is designed in such a way that founding members ultimately maintain control. Hence, one of the centrepieces of the proposed global reforms, namely the G20 pledge to transfer 6 per cent of quota and voting power at the IMF to large emerging markets, cannot be implemented.</div>
<div>
	&nbsp;</div>
<div>
	The third reason for limited progress in reforms is the relatively weak cohesion within the BRICS. The establishment of the G20 in the aftermath of the global economic crisis has given the BRICS a historically unprecedented opportunity to sit around the high table with G7 member states and participate in discussions on international economic policies as key stakeholders. But the BRICS have become &lsquo;BRICS without mortar&rsquo;. For example, when the position of IMF managing director became vacant last year, even though it was well known that the IMF tradition of locking out non-Europeans would be strongly protected, the BRICS should have quickly made a claim for the position, fielded a top-rate candidate and provided a strong backing. But that did not happen. The BRICS claim came late &mdash; perhaps as an after-thought.</div>
<div>
	&nbsp;</div>
<div>
	For the above reasons, many of the proposed global reforms have not been implemented and the world is not much safer now than it was before the global economic crisis. How might the situation evolve in the future? It depends on how global politics plays out among the various actors.</div>
<div>
	&nbsp;</div>
<div>
	Recent economic turmoil has demonstrated beyond doubt that unfettered global markets and greed are a dangerous cocktail that can lead to &lsquo;elite&rsquo; capture and insider trading and put global prosperity at risk. A more legitimate multilateral rules-based system is one of the best ways to ensure that the benefits of globalisation are shared in an equitable manner. Another way is to move to a more decentralised architecture with global and regional institutions working together in a complementary manner. Compromises must therefore be struck so that economies can move towards either one of these two systems. The world would then become a safer place.</div>
<div>
	&nbsp;</div>
<div>
	If the United States decides to shun post-war multilateralism and go for preferential deals with like-minded countries instead, then the global order could fall apart. The world would then be back to the &lsquo;beggar thy neighbour&rsquo; policies of the 1930s to the detriment of all, including the United States and the BRICS. US interest in negotiating the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership is a dark cloud on the horizon. Regional schemes, if well designed, can be stepping stones to multilateralism: let us hope that the desire of the United States in pursuing these schemes is not to lock out other countries &mdash; especially China and India.</div>
<div>
	&nbsp;</div>
<div>
	<em>(Pradumna B. Rana is Associate Professor in International Political Economy at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University.)</em></div>
<div>
	&nbsp;</div>
<div>
	Source: East Asia Forum, http://www.eastasiaforum.org/2013/11/15/five-years-after-the-global-crisis-the-world-is-no-safer/</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' => 'The Asian financial crisis of 1997–98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned.',
			'sortorder' => '1992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2136',
			'article_category_id' => '91',
			'title' => 'CA Polls: The Expense  For Peace And Constitution',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	W<span style="font-size: 12px;">ith the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Political parties and their candidates have made hefty commitments on new constitution drafting and made lofty promises of development to lure voters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite the failure of the first CA to draft a new constitution, stakes of politicos are looking pretty high this time. This election has the potential to change the current political equation. The change may come in the form of emergence of new political powers along with the obliteration of some. Whereas, voters are looking much confused haunted by the memories of first CA&rsquo;s unfortunate demise.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After the first CA election, Nepal witnessed a tense period of rising disputes among the major political parties that slashed the hopes of ordinary citizens leaving the country into a state of uncertainty and political disarray. According to official documents, more than Rs 15 billion, was spend within 4 years on constitution drafting process including the first CA election held in 2008 April.</div>
<div>
	&nbsp;</div>
<div>
	The estimated amount does not include the funds allocated for peace process (integration of former Maoists combatants) which reached over Rs 3 billion. Though, the size of total spending is disputed, various figures claim that the expenditures can be counted in tens of billions of rupees.</div>
<div>
	&nbsp;</div>
<div>
	However, after the CA was dissolved last year by the Dr Babu Ram Bhattarai-led government, the huge investment made in drafting a new constitution was seen as sheer waste of money. Skepticism about the new CA to complete its task remains high in the air. In this context question are being raised strongly on new CA&rsquo;s ability to deliver a new constitution and whether the huge spending was worthwhile.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The constitution drafting process of Nepal has become the most expensive one in the world. The country would have witnessed dramatic development and prosperity if that money was invested in productive sectors,&rdquo; said Suraj Vaidya, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</div>
<div>
	&nbsp;</div>
<div>
	Vaidya was speaking to reporters last week in an &lsquo;open press meet&rsquo; held at Durbarmarg, Kathmandu to inform about the FNCCI&rsquo;s protest programme against the general strike and transportation shutdown organised by the poll opposing alliance. Economists are also cautioning the political players to become more responsible as the rising election expenditure is likely hold back the economic growth of the country if the new CA fails to draft a new constitution. &ldquo;The election expenditure will easily reach Rs 30 billion this time which was initially allocated at Rs 16 billion in the budget of the current fiscal year 2013/14,&rdquo; opined Prof Dr Bishwambher Pyakuryal. According to him, the rise in expenditure will reach 6 per cent of the total budget.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The spending can be taken as gainful investment only if a new constitution is drafted and if the country achieves political and economic stability,&rdquo; said Pyakuryal adding, &ldquo;If that does not happen then we need serious discussions about the possible impacts of election expenditures on Nepal&rsquo;s economy.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Apart from the government&rsquo;s expenditure, the mammoth size of spending of political parties and candidates is also making the election more expensive. According to the Election Commission, 6,128 candidates are contesting for 240 constituencies across the country in the first-past-the-post or FPTP electoral process. Similarly, 10,400 candidates are listed as candidates for the proportional representation (PR) seats.</div>
<div>
	&nbsp;</div>
<div>
	In this regard the total spending of candidates (both FPTP and PR) can be counted at Rs 6.90 billion, assuming that they will spend as per the EC&rsquo;s directive. According to EC&rsquo;s directive, a FPTP candidate can spend a maximum of Rs 1 million in his/her constituency whereas the spending ceiling of a PR contender is maxed at Rs 75,000.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Election Commission does not have effective monitoring mechanism to control election fraud and excessive expenditure by candidates. EC spokesperson Bir Bahadur Rai said that there is no formal complaint against candidate pertaining to their expenses so far. He suggested to ask EC Chief Commissioner to ask about frauds by candidate and denied to comment on the issue.</div>',
			'published' => true,
			'created' => '2013-11-20',
			'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' => 'With the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).',
			'sortorder' => '1991',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 8 => array(
		'Article' => array(
			'id' => '2095',
			'article_category_id' => '137',
			'title' => 'Nepal Gains In Global Prosperity Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>--By TC Correspondent</strong></div>
	<div>
		&nbsp;</div>
	<div>
		D<span style="font-size: 12px;">espite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal&rsquo;s progress mainly in the area of personal freedom. &nbsp;Nepal scored 77 points in the personal freedom sub-index which includes sections such as civil liberties and tolerance among ethnic groups. The sub-index highlights more freedom of choice for ordinary Nepalis and ethnic harmony in the country. The Legatum Prosperity Index has been benchmarking 142 countries since 2007 in 8 distinct sub-indices: economy, education, entrepreneurship and opportunity, governance, health, personal freedom, safety and security and social capital.&nbsp;</span></div>
	<div>
		&nbsp;</div>
	<div>
		Nepal&rsquo;s economic performance was not seen satisfactory as the country declined 5 places to 92nd position in economy sub-index, mainly because of decline in its gross domestic savings. Nepal also moved down in the safety and security sub-index, by 17 places to 101st due to increase in state violence and the number of refugees. Similarly, Nepal also did not fare well in entrepreneurship and opportunity as the country was placed at 111th position in the sub-index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal ranked 100th in governance, 104th in education, 97th in health and 95th in social capital sub-indices. However, Nepal ranked above India, Bangladesh and Pakistan in the overall index. Bangladesh ranked below Nepal at 103rd position whereas India was placed at 106th in the index. Bangladesh ranks above India in the index for the first time in 2013. Although Bangladesh&rsquo;s rank has remained constant since last year, India has declined five places in the same period. India has fallen down the Prosperity Index rankings consistently over the last five years. Pakistan was the lowest ranking country in the entire Asia-Pacific region with 132nd position whereas China stood at 51st in the index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Norway ranks first in overall Prosperity, as it has since 2009, confirming its place as the most prosperous country in the world for the fifth consecutive year. The country also ranks first in the economy and social capital sub-index in 2013. Switzerland, Canada, Sweden and New Zealand secured 2nd, 3rd, 4th and 5th position respectively. Meanwhile, US ranked 11th in the index. &nbsp;US moved down four places to 24th in the Economy sub-index. Countries that have overtaken the US in the economy sub-index include New Zealand (17th) and South Korea (19th), among others. The UK has moved down three places to 16th in overall Prosperity, as a result of decreases in the rankings for six out of eight sub-indices since last year. The UK has been leapfrogged by Austria (15th), Germany (14th), and Iceland (13th).</div>
</div>',
			'published' => true,
			'created' => '2013-11-11',
			'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' => 'Despite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal’s progress mainly in the area of personal freedom.',
			'sortorder' => '1990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 9 => array(
		'Article' => array(
			'id' => '2141',
			'article_category_id' => '48',
			'title' => 'Manifestation Of Everything',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Madan Lamsal</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="NO Laughing Matter" src="/userfiles/images/nlm%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 409px;" />Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon. In ancient times, men and women manifested their parts of attractive bodies to entice the opposite sex. In modern cinema civilization, you know better how the issue of manifestations has been debated as part aesthetics or sex. If you watch a well-manifested cinema, you talk more about it than the storyline it carried.</div>
<div>
	&nbsp;</div>
<div>
	On duty-side as well, the principle of enticement has not changed much. For instance take Nepal&rsquo;s political parties&rsquo;, that are contesting the Constituent Assembly (CA) elections, hope to hold CA elections in the month of November. They have made their supposedly election manifestoes public and all of them seem to be greatly influenced by the tinsel town concept of selling the cinema inserting some more manifestations in the story. Political heroes also probably forgot the storyline that they are going to write the constitution through the new CA. Their indulgence in the act of enticement by overt manifestation of the to-do-list in CA elections manifestoes establishes nothing else.</div>
<div>
	&nbsp;</div>
<div>
	No credible commitment is found expressed in manifestoes to write a constitution that guarantees the rights of the people. But, regardless of whether constitution would be actually written or not, these manifestoes instead surely promise you everything possible from prostitute to prosperity. If you are on the plank of arguing that, prosperity cannot be promised without writing a new democratic constitution, then you don&rsquo;t understand the culture of political prostitution that is in vogue in Nepal. You never know which leader will partner with which party during the day and the same leader will lean to other party during the night.</div>
<div>
	&nbsp;</div>
<div>
	But, without worrying much about the constitution, if you look at the list of promises made by these manifestoes, you are sure to relish. Everything to everyone, that&rsquo;s how you can sum-up these manifestoes. Home to homeless, power to politicos, tax rebate to tax evading community, partners to young, food to humans, feed to animals, cloths to kids, cure to olds, power connection to houses, empowerment to housewives, love to poor and luxury to riches. The list is so long that, you will be bored if all of them are copied here. You can actually call it your own wish-list.</div>
<div>
	&nbsp;</div>
<div>
	No doubt, the political parties and political leaders are doing the right thing. The private sector of Nepal had long complained that the political leadership has ignored the economic and developmental concerns of Nepal. But these manifestoes have compensated all past lacunae of these sorts. In fact, this time around, all they have done is, shown utmost concern only to the economy and prosperity of the country, nothing else.</div>
<div>
	&nbsp;</div>
<div>
	This is very right strategy to adopt. Because, by this, both the new constitution and the prosperity can be ensured simultaneously. It is natural for them not to worry about constitution and mention its whats and hows in their manifestoes. Every Nepali is well aware that our sovereign constitution is being written with great care, by great experts, somewhere in the world. Could be, it is done in more than one place and we lucky Nepali will have chance to chose the best instant constitution from a fairly long menu. We will get to see it when it is brought here, ready to be implemented.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, it is pointless to ask how our leaders are going to fulfill such an extraordinarily long list of promises without arranging resources and plans. Their duty is just to make the list, not to consider about the feasibility and finance of the related projects. For that, we again know, money will come from the same window where the constitution would be coming.</div>
<div>
	&nbsp;</div>
<div>
	My only last confusion is: whom to vote whereas all manifestoes look the same? Oh yeh! I can console saying that every party in Nepal is not different in vital issues. That is manifested!</div>',
			'published' => true,
			'created' => '2013-11-24',
			'modified' => '2013-11-24',
			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon.',
			'sortorder' => '1989',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 10 => array(
		'Article' => array(
			'id' => '2135',
			'article_category_id' => '150',
			'title' => 'Business Briefs (11 - 17 November 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Ncell introduces Facebook pack</strong></span></div>
<div>
	Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market. It offers the customers with a choice to subscribe data service for using Facebook only. The pack will be available on a daily, weekly and monthly basis and the customers can subscribe to any one of them as per their requirement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Kobe LED TVs in Market</strong></span></div>
<div>
	Bhajuratna Electronics Pvt Ltd has introduced Kobe LED TVs in the market. According to the company, the TVs are targeted to those customers who want LED TVs at an affordable price. The TVs are available in 22 and 32 inch sizes, and have features like 3d Comb Filter, Dynamic Noise Reduction, Hotel Mode, Volume Leveller, Cinema Zoom, USB High Speed 2.0, Eco Vision and HDMI. The TVs will be made available through 14 showrooms throughout the country. The company is giving out a warranty of one year on both the models of TVs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Hero Announces Winners&nbsp;of Dashain Tihar Offer</strong></span></div>
<div>
	General Marketing Pvt Ltd, the authorized distributors of Hero motorcycles for Nepal has announced the winners of second lucky draw of its Dashain and Tihar offer &lsquo;Hero Blockbuster Deal&rsquo;. The three winners have won Rs 100,000, Rs 75,000 and Rs 50,000 from the lucky draw.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Colors&rsquo; New Handsets&nbsp;</strong></span></div>
<div>
	Colors Mobile has introduced two new handsets, Star 3G (X- 30) under its star series phones and new X-Factor Idol (X-16) in the market. Colors Star 3G is powered by 1.2 GHz dual core processor and comes with 3.5 inch capacitive multi-touch screen, front and rear cameras and 1200 mAh battery. Colors Idol (X-16) is a dual SIM phone that runs on Android 2.3 and is powered by a 1 GHz processor, and has 512 MB of ROM and 256 MB of RAM.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsara Joins Hands Al Ansari&nbsp;</strong></span></div>
<div>
	Samsara Money Transfer has entered into an agreement with UAE based Al Ansari Exchange. Following the agreement, money could be received from any branches of Samsara in Nepal sent from the Al Ansari Exchange in UAE. Executive Vice Chairman of Samsara Jeewan Babu Shrestha and Rashed A. Al Ansari, General Manager of the Al Ansari Exchange, signed an agreement to this effect recently. Samsara claims that it has more than 1 thousand 8 hundred agents across Nepal.</div>',
			'published' => true,
			'created' => '2013-11-12',
			'modified' => '2013-11-24',
			'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' => 'Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market.',
			'sortorder' => '1988',
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	(int) 11 => array(
		'Article' => array(
			'id' => '2140',
			'article_category_id' => '151',
			'title' => 'Higher Studies In Crisis Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis. Responding to this necessity, recently a complete course on Crisis Management has been introduced in Nepal for the first time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Samarpan Academy - Institute of Crisis Management Studies (ICMS) has launched Masters Degree in Crisis Management &nbsp;course &lsquo;Masters in Crisis Management&rsquo; (MCM) in affiliation with &nbsp;Tribhuwan University. The college&rsquo;s management is presided by Dr Ram Thapaliya, a PhD holder in Crisis Management. Balananda Sharma, fLieutenant General (Rtd) of Nepal Army, is the principal of the college. Sharma played key role in the management, rehabilitation and integration of the Maoist combatants as coordinator of the secretariat of the Army Integration Special Committee (AISC). &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other key figures behind the college are Former Inspector General of Police Sanat Basnet, Immediate past President of &nbsp;Federation of Nepalese Chambers of commerce and Industry (FNCCI) &nbsp;Kush Kumar Joshi, Nepali Congress Leader Nabindra Raj Joshi, UCPN-Maoist leader Khimlal Devkota, CPN UML Leader Shanti Adhikari and Dr. Shivaji Yadav..&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Elaborating on the objective of the institution, Principal Sharma said that the sole motive behind introducing the course is to minimize consequences of crisis by managing it &nbsp;rather than to make profit. &ldquo;This is an experience sharing institute,&rdquo; he says. &ldquo;If a crisis can be managed systematically, we can minimize the consequences a lot.&rdquo; Sharma claims that Crisis Management students are salable in international market too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Course Specs</strong></div>
<div>
	Students who have completed &nbsp;bachelor&rsquo;s level with at least 2nd division are eligible to enroll for this course. The course includes basic knowledge on crisis management, various types of crisis that Nepal has been through and case studies on various international crisis incidents. The college is planning to enroll 20-30 students in its first batch and has long term plans to extend its capacity to enroll 40-50 students in each batch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>International Students&nbsp;</strong></div>
<div>
	The college is looking forward to teach international students too. &ldquo;Developed countries in west want to study about developing countries as the latter face different types of crisis,&rdquo; Sharma says adding, &ldquo;International teachers too want to come here to teach this course&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Fee Structure</strong></div>
<div>
	Four-semester course fee for a Nepali student is set at Rs 515,500. Similarly, it is Rs 817,600 for students from SAARC region and USD 10,000 for students from other countries. &ldquo;There is a provision for scholarship for genuine and needy,&rdquo; said Sharma.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis.',
			'sortorder' => '1987',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2139',
			'article_category_id' => '134',
			'title' => '“We Are Not Here To Complain.  We Are Here To Achieve”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">Turkish Airlines took to the skies 80 years ago as Turkey&rsquo;s flag carrier. It was started with the goal of becoming one of Europe&rsquo;s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September. According to the airlines, roundtrip flights between Istanbul and Kathmandu are operated 4 times per week on Tuesdays, Thursdays, Fridays and Sundays from Istanbul, and Mondays, Wednesdays, Fridays and Saturdays from Kathmandu. In an interview with <em>The Corporate&rsquo;s <strong>Siromani Dhungana</strong></em>, General Manager of Turkish Airlines <strong><em>Celal Baykal</em></strong> explains the journey of Turkish airlines in Nepal while also highlighting the future plans of this airline. <strong>Excerpt:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What attracted Turkish Airlines &nbsp;for launching its services in Nepal?</strong></div>
<div>
	We officially started our airline in Nepal from September, this year. The reason why we are here is that we are trying to operate in as many countries as &nbsp;we can so as &nbsp;to be an airline reaching many destinations all over the world. Similarly, we want to expand our network because we want to be a network generator. We particularly chose Nepal because of its huge potential. Nepal was already in our plan for many years. But, it took some time to arrange everything and now finally we are operating in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Can you please describe the background of your decision to come to Nepal?</strong></div>
<div>
	Yes, I remember those days very well. Expanding reach to a new country involves a lot of research and know-how to gather a lot of information about the country and you have to analyze it as soon as possible. The first thing I did was to get in touch with colleagues in the business environment. I developed connections with my sectoral colleagues who have been working in Nepal and also with people who have visited Nepal before. Coming to Asia and in Nepal was itself something new for me. I was in Amsterdam. So, if it is a big change, it is also a challenge in my career providing me with numerous opportunities to learn about markets all over the world.</div>
<div>
	&nbsp;</div>
<div>
	<strong>How has the journey for Turkish airlines in Nepal been so far?</strong></div>
<div>
	We are doing quite well. I cannot put anything negative yet. Our flights are almost fully booked and sometimes we have over-bookings. There is a lot of potential in Nepal and we need to focus on that. There are so many places with natural landscapes and thus viable for natural tourism. Considering these prospects, we are aspiring to do much more in Nepal in the&nbsp;</div>
<div>
	near future.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What do you have to say about market competition in Nepal?</strong></div>
<div>
	Competition is ever-present in any field. If there is no competition, you become weak. So, I consider competition to be beneficial. We have been working in the market regardless of competition. This was the same in Amsterdam too, where I worked before. As an airline, we are used to lot of competition.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are your strategies to expand your market here in Nepal?</strong></div>
<div>
	We want to strongly increase our presence but, we don&rsquo;t know where and what the time will be. In the near future, we will surely increase our frequencies. There are some places where we want to expand and one of these places is Nepal. We have just begun our services here and we definitely intend to do more in the future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Where do you see yourself in 5 years?</strong></div>
<div>
	In 5 years time, we will be able to understand the market more closely and it is sure to make a difference in my personal career as well. We will learn about the cultures here and incorporate it in our business strategy.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are the complications of conducting business in Nepal?</strong></div>
<div>
	We do not keep looking at problems but, ways to solve them. If you talk about problems, you can continue talking about them for years. We are here to achieve, not to complain. We are here to make a difference. Looking at Nepal&rsquo;s human resource, I can say there is no much difference in terms of quality of people. Though there are some differences between working in Amsterdam and in Nepal, but I am confident that I can rely on Nepali colleagues to get through it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What assurances do you give about the service standards of your airline?&nbsp;</strong></div>
<div>
	We have already won some awards, especially the ones related to hospitality and that is our day to day experience. We also won the best kitchen in business class and even in the economy class. We are still investing in our catering and in some areas, we have also tried changing our catering services for responding to our consumers need. &nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Turkish Airlines took to the skies 80 years ago as Turkey’s flag carrier. It was started with the goal of becoming one of Europe’s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September.',
			'sortorder' => '1986',
			'image' => null,
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	(int) 13 => array(
		'Article' => array(
			'id' => '2091',
			'article_category_id' => '91',
			'title' => 'Election Boosting National Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Financial experts have claimed that CA election will spur the national economy. Government and non-government officials have claimed that the national economy will benefit from the expenditure made by the government, political and non-political organizations and electoral candidates.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp; &ldquo;The expenditures in election can be taken as investment in the country&rsquo;s economy,&rdquo; says Finance Minister Shanker Prasad Koirala. He said that the upcoming election will boost economic activities of political parties and help to flow their savings in the market.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;The money being used in the election process will ultimately go to the private sector,&rdquo; said Koirala adding, &ldquo;The election process is also likely to increase the recurrent expenditure and that will positively impact Nepal&rsquo;s economy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However Koirala noted that the election process is unlikely to boost the capital expenditure citing that most of the government funded projects are halted for the time being.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dr Chiranjivi Nepal, Economic Advisor at the Ministry of Finance, also expressed similar views. &ldquo;Injecting extra money into the market, increase in demand and supply of goods and services will lead to increase in domestic production,&rdquo; he said. &nbsp;However, Dr Nepal also cautioned of rise in inflation as more money is being poured into the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Election campaign expenditures of election candidates is another contributor in spurring the local economy. Aggressive electoral campaign of CA candidates have shown significant activities in the service sector that includes businesses such as hotels/restaurants, airlines and transport services. The campaigns have also considerably raised the print business in the recent days along with the increase in the supply of paper, utensils and printing materials. The Election Commission (EC) has capped the campaigning expenditure of a candidate in each constituency at Rs 1 million. With 240 constituencies, the total campaigning expenses is estimated to be around Rs 240 million, even if it is assumed that only a single candidate is contending. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Expenditures are high also on the government&rsquo;s end. The government has allocated Rs 16 billion budget for entire CA election process in the current fiscal budget. The first CA election held on April 10, 2008 saw a disbursement of Rs 6 billion from the government fund. According to the Election Commission of Nepal (EC), the expenditure also includes hiring of temporary security personnel to assist in the elections. On October 22, the government recruited 45,000 temporary police personnel for a 45-day time period. This temporary employment will also boost the domestic economy.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-10',
			'modified' => '2013-11-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.',
			'sortorder' => '1985',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2112',
			'article_category_id' => '109',
			'title' => 'Nepse Observes Meager Gain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. &nbsp;The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div>
<div>
	&nbsp;</div>
<div>
	The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the &nbsp;Hotel sector index also increased &nbsp;by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Nepse on Sunday</strong></p>
</div>
<div>
	Nepse index inclined 1 point on the first day of this week closing at 580. &nbsp;A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div>
<div>
	&nbsp;</div>
<div>
	Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. &nbsp;Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
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			'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.',
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			'id' => '2151',
			'article_category_id' => '140',
			'title' => 'NC-UML Sweep CA Polls; UCPN (Maoist) Cries Foul',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes. As The Corporate went to the press, Nepali Congress has taken the lead towards the first-past-the-post electoral system securing 105 seats, followed by CPN (UML) with 91 seats. The largest party of the erstwhile CA, UCPN (Maoist), however, has trailed far behind with only 25 seats in its kitty. Likewise, Terai Madhes Loktantrik Party and Madhesi Janadhikar Forum Democratic have each secured four seats.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among others, Rastriya Prajatantra Party has won 3 seats, Madhesi Janadhikar Forum Nepal 2, Sadbhawana Party 1, Nepal Workers Peasants Party 1 and Terai Madhes Sadbhawana Party has won 1 seat. Similarly, two independent candidates also managed to secure a berth in the upcoming CA. As the poll results trickled down, UCPN (Maoist) has claimed &lsquo;irregularities&rsquo;, &lsquo;conspiracy&rsquo; and &lsquo;poll rigging&rsquo; to be behind its defeat. Holding a press conference last Thursday, UCPN (Maoist) chairman Pushpa Kamal Dahal has demanded the review of the entire election process. He has also warned to boycott the Constituent Assembly if his party&rsquo;s demand is not met. However, Election Commission, government officials and other parties have ruled out the review of the election process. Carter Center along with other poll observing groups has said that the polls were held in a free and fair manner. As The Corporate went to press on Sunday, the counting of the vote under proportional representation system is going on. Out of 16,72,519 votes counted in various constituencies across the country, CPN (UML) has led the counting with 4,68,426 votes. Likewise, Nepali Congress is following the CPN (UML) with 4, 39,438 votes. UCPN (Maoist), which suffered a big blow towards FPTP system, is in the fourth position with 2,81,338 votes. Rastriya Prajatantra Party-Nepal, a pro-monarchist party, has emerged as a fourth party with 1,35,054 votes.</div>',
			'published' => true,
			'created' => '2013-11-25',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes',
			'sortorder' => '1998',
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	(int) 1 => array(
		'Article' => array(
			'id' => '2150',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (25 November - 01 December)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Fed Plans to Trim Stimulus Soon</strong></span></div>
<div>
	Federal Reserve officials said they plan to begin trimming the central bank&#39;s stimulus efforts in &quot;the coming months&quot;. In the meeting minutes, released on Wednesday, policy makers said they &quot;generally expected that the data would prove consistent with the Committee&#39;s outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months&quot;. They believe that the US recovery is strengthening, according to minutes from their October meeting.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Economic growth Slowing: OECD</strong></span></div>
<div>
	Global growth for 2013 and 2014 has been downgraded &quot;significantly&quot; after weak prospects in emerging markets, says the Organisation for Economic Co-operation and Development. Global GDP this year is now expected to grow by 2.7%, down from 3.1% forecast in May. But it said global economic growth would speed up by 2015.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>JP Morgan in Record $13bn Settlement&nbsp;</strong></span></div>
<div>
	US bank JP Morgan Chase has agreed to a record $13bn (&pound;8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gold Posts Biggest Weekly Loss in 2 Months&nbsp;</strong></span></div>
<div>
	Gold ended little changed on Friday but the metal posted its sharpest weekly drop in more than two months as strong US economic data raised uncertainty over the timing of a slowdown in stimulus measures. Spot gold inched up 31 cents to close at $1,242.66 an ounce. The metal hit a fresh 4-1/2-month low of $1,236.29 in the previous session.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s Gezhouba Completes Hydro Project in Pakistan</strong></span></div>
<div>
	China Gezhouba Group Company recently completed the construction of &nbsp;N-J Hydro-Power Project successfully. Pakistan State Councilor Syed Ahemed appreciated CGGC for completing the project successfully, CGGC&rsquo;s representative in Nepal said in a press release issued on Sunday. &ldquo;CGGC have made great contribution to the N-J hydro power project, I hope the company will continue to work effectively in the days to complete the project successfully,&rdquo; the press release quoted Ahemed as stating during his visit to the project site recently.</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' => 'US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.',
			'sortorder' => '1997',
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	(int) 2 => array(
		'Article' => array(
			'id' => '2149',
			'article_category_id' => '138',
			'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The group of world&#39;s least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). &nbsp;According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, &ldquo;We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.&rdquo; Malia Talakai, the AOSIS spokesperson for loss and damage, adds, &ldquo;SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,&rdquo; argues Elia del Carmen Guerra of Panama.</div>
<div>
	&nbsp;</div>
<div>
	Patience Damptey, negotiator for the African Group, adds, &ldquo;Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Adao Barbosa, outlining the position of the LDC group, said, &ldquo;If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister concludes for G77, &ldquo;It&rsquo;s unacceptable that some continue to sideline this issue, or fob it off as a &lsquo;research agenda&rsquo; item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world&rsquo;s most vulnerable people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage from climate change is a reality today across the world,&rdquo; says Naderev &ldquo;Yeb&rdquo; Sano, Climate Change Commissioner of the Philippines, &ldquo;My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	He adds: &ldquo;Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40&ndash;50% on 1990 levels, we would still have locked&ndash;in climate change and would still need to address the issue of loss and damage.&rdquo;</div>',
			'published' => true,
			'created' => '2013-11-25',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC).  According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '2148',
			'article_category_id' => '138',
			'title' => 'World Applauds CA Elections',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div>
<div>
	&nbsp;</div>
<div>
	According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. &ldquo;These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,&rdquo; reads the statement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, neighbouring India also hailed the elections as free and fair. &nbsp;In a press statement, Indian Ministry of External Affairs said, &ldquo;The successful conduct of free and fair elections &nbsp;in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal&rsquo;s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.&rdquo; Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</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 international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.',
			'sortorder' => '1995',
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	(int) 4 => array(
		'Article' => array(
			'id' => '2147',
			'article_category_id' => '138',
			'title' => 'Ambassador Bodde Inaugurates  US Embassy Book Bus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy&rsquo;s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. &nbsp;&quot;Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology,&quot; informed the release. &nbsp;The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Book Bus is an expansion of the US Embassy&rsquo;s seven American Corner libraries located throughout Nepal. &nbsp;&quot;These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike,&quot; said the embassy. &nbsp;The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div>
<div>
	&nbsp;</div>
<div>
	With the help of a partner organization, Quixote&rsquo;s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. &nbsp;Through the Book Bus, books will also be donated to young readers in English and Nepali.</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 Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.',
			'sortorder' => '1994',
			'image' => null,
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	(int) 5 => array(
		'Article' => array(
			'id' => '2146',
			'article_category_id' => '137',
			'title' => '‘South Asian Diaspora Investment Bank Could Supplement SAARC Efforts’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.</div>
<div>
	&nbsp;</div>
<div>
	This is part of the &lsquo;trilateralism idea&rsquo; mooted by former Bangladesh Foreign Minister Iftekhar Chowdhury at the second South Asian Diaspora Convention (SADC) in Singapore today. Chowdhury said the bank could play a role in guiding South Asian diaspora investment, especially in the infrastructure sector, in the region which is a market of 1.8 billion people. Chowdhury told that the 38-million strong South Asian diaspora has an estimated wealth of $1.3 trillion and was looking at new investment opportunities.</div>
<div>
	&nbsp;</div>
<div>
	The diaspora comprising 20 million Indians, 7 million Bangladeshis, 8 million Pakistanis and 3 million Sri Lankans, is estimated to save about $350 billion from their annual estimated earnings of $1 trillion. Yesterday during his address at the SADC, Finance Minister P. Chidambaram called on the Indian diaspora to invest in India and be part of the country&rsquo;s prosperity in his speech at the SADC yesterday. Chowdhury said it is the right time to channel that investment to the South Asian region, given the many politically-impeded challenges being faced by these investors in placing their money in this vast region.</div>
<div>
	&nbsp;</div>
<div>
	He is currently a principal fellow at the Institute of South Asia Studies (ISAS), the organiser of the two-day SADC which ended today. The proposed South Asian Diaspora Investment Bank could be located in one of the international financial centres &mdash; London, New York or Singapore. Chowdhury said the bank&rsquo;s role would bring about a change in the politically-weakened SAARC and could give a big impetus to the regional organisation which has made little progress since its inception.</div>
<div>
	<em>(The Hindu Business Line)</em></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' => 'An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.',
			'sortorder' => '1993',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2137',
			'article_category_id' => '145',
			'title' => 'Five Years After The Global Crisis, The World Is No Safer',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Pradumna B Rana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he Asian financial crisis of 1997&ndash;98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned. Complacency partially set the stage for the global economic crisis of 2008&ndash;09, and once again, under the auspices of the newly created G20, a large number of policies were announced. Have they been implemented, and has the world become a safer place? Not really.</span></div>
<div>
	&nbsp;</div>
<div>
	This leads to three main reasons for concern. The first is complacency yet again. Five years ago, credit markets were frozen, international trade had fallen off the cliff and the global economy was headed towards a great depression similar to the one experienced in the 1930s. There was an acute sense of urgency; the major economic powers agreed to coordinate monetary and fiscal policies. These efforts were successful and instead of a global depression the world experienced &lsquo;the great recession&rsquo;.</div>
<div>
	&nbsp;</div>
<div>
	Now financial markets no longer pose an immediate systemic threat. But the global economy is far from healthy; it is operating well below capacity, with millions unemployed. Policy coordination is still required, but is difficult to obtain. While the G20 made substantial progress in global economic reforms during its first three summits &mdash; that is, until the Pittsburgh summit &mdash; it is now headed towards obsolescence.</div>
<div>
	&nbsp;</div>
<div>
	The second reason for lack of progress in global reforms is the reluctance of the United States to give up its veto power and control of the IMF. In 1944, the United States, as the global hegemon of the time, helped establish multilateral rules, including those for finance and the IMF. This led to financial stability and unprecedented economic prosperity, not only for members of the club but also in other countries around the world &mdash; especially in the BRICS.</div>
<div>
	&nbsp;</div>
<div>
	Given their growing economic footprint in the world economy, the BRICS now desire a greater voice and say in running the IMF, but some members are reluctant to allow this. This is because, like many other clubs, the IMF is designed in such a way that founding members ultimately maintain control. Hence, one of the centrepieces of the proposed global reforms, namely the G20 pledge to transfer 6 per cent of quota and voting power at the IMF to large emerging markets, cannot be implemented.</div>
<div>
	&nbsp;</div>
<div>
	The third reason for limited progress in reforms is the relatively weak cohesion within the BRICS. The establishment of the G20 in the aftermath of the global economic crisis has given the BRICS a historically unprecedented opportunity to sit around the high table with G7 member states and participate in discussions on international economic policies as key stakeholders. But the BRICS have become &lsquo;BRICS without mortar&rsquo;. For example, when the position of IMF managing director became vacant last year, even though it was well known that the IMF tradition of locking out non-Europeans would be strongly protected, the BRICS should have quickly made a claim for the position, fielded a top-rate candidate and provided a strong backing. But that did not happen. The BRICS claim came late &mdash; perhaps as an after-thought.</div>
<div>
	&nbsp;</div>
<div>
	For the above reasons, many of the proposed global reforms have not been implemented and the world is not much safer now than it was before the global economic crisis. How might the situation evolve in the future? It depends on how global politics plays out among the various actors.</div>
<div>
	&nbsp;</div>
<div>
	Recent economic turmoil has demonstrated beyond doubt that unfettered global markets and greed are a dangerous cocktail that can lead to &lsquo;elite&rsquo; capture and insider trading and put global prosperity at risk. A more legitimate multilateral rules-based system is one of the best ways to ensure that the benefits of globalisation are shared in an equitable manner. Another way is to move to a more decentralised architecture with global and regional institutions working together in a complementary manner. Compromises must therefore be struck so that economies can move towards either one of these two systems. The world would then become a safer place.</div>
<div>
	&nbsp;</div>
<div>
	If the United States decides to shun post-war multilateralism and go for preferential deals with like-minded countries instead, then the global order could fall apart. The world would then be back to the &lsquo;beggar thy neighbour&rsquo; policies of the 1930s to the detriment of all, including the United States and the BRICS. US interest in negotiating the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership is a dark cloud on the horizon. Regional schemes, if well designed, can be stepping stones to multilateralism: let us hope that the desire of the United States in pursuing these schemes is not to lock out other countries &mdash; especially China and India.</div>
<div>
	&nbsp;</div>
<div>
	<em>(Pradumna B. Rana is Associate Professor in International Political Economy at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University.)</em></div>
<div>
	&nbsp;</div>
<div>
	Source: East Asia Forum, http://www.eastasiaforum.org/2013/11/15/five-years-after-the-global-crisis-the-world-is-no-safer/</div>',
			'published' => true,
			'created' => '2013-11-21',
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			'description' => 'The Asian financial crisis of 1997–98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned.',
			'sortorder' => '1992',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2136',
			'article_category_id' => '91',
			'title' => 'CA Polls: The Expense  For Peace And Constitution',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	W<span style="font-size: 12px;">ith the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Political parties and their candidates have made hefty commitments on new constitution drafting and made lofty promises of development to lure voters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite the failure of the first CA to draft a new constitution, stakes of politicos are looking pretty high this time. This election has the potential to change the current political equation. The change may come in the form of emergence of new political powers along with the obliteration of some. Whereas, voters are looking much confused haunted by the memories of first CA&rsquo;s unfortunate demise.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After the first CA election, Nepal witnessed a tense period of rising disputes among the major political parties that slashed the hopes of ordinary citizens leaving the country into a state of uncertainty and political disarray. According to official documents, more than Rs 15 billion, was spend within 4 years on constitution drafting process including the first CA election held in 2008 April.</div>
<div>
	&nbsp;</div>
<div>
	The estimated amount does not include the funds allocated for peace process (integration of former Maoists combatants) which reached over Rs 3 billion. Though, the size of total spending is disputed, various figures claim that the expenditures can be counted in tens of billions of rupees.</div>
<div>
	&nbsp;</div>
<div>
	However, after the CA was dissolved last year by the Dr Babu Ram Bhattarai-led government, the huge investment made in drafting a new constitution was seen as sheer waste of money. Skepticism about the new CA to complete its task remains high in the air. In this context question are being raised strongly on new CA&rsquo;s ability to deliver a new constitution and whether the huge spending was worthwhile.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The constitution drafting process of Nepal has become the most expensive one in the world. The country would have witnessed dramatic development and prosperity if that money was invested in productive sectors,&rdquo; said Suraj Vaidya, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</div>
<div>
	&nbsp;</div>
<div>
	Vaidya was speaking to reporters last week in an &lsquo;open press meet&rsquo; held at Durbarmarg, Kathmandu to inform about the FNCCI&rsquo;s protest programme against the general strike and transportation shutdown organised by the poll opposing alliance. Economists are also cautioning the political players to become more responsible as the rising election expenditure is likely hold back the economic growth of the country if the new CA fails to draft a new constitution. &ldquo;The election expenditure will easily reach Rs 30 billion this time which was initially allocated at Rs 16 billion in the budget of the current fiscal year 2013/14,&rdquo; opined Prof Dr Bishwambher Pyakuryal. According to him, the rise in expenditure will reach 6 per cent of the total budget.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The spending can be taken as gainful investment only if a new constitution is drafted and if the country achieves political and economic stability,&rdquo; said Pyakuryal adding, &ldquo;If that does not happen then we need serious discussions about the possible impacts of election expenditures on Nepal&rsquo;s economy.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Apart from the government&rsquo;s expenditure, the mammoth size of spending of political parties and candidates is also making the election more expensive. According to the Election Commission, 6,128 candidates are contesting for 240 constituencies across the country in the first-past-the-post or FPTP electoral process. Similarly, 10,400 candidates are listed as candidates for the proportional representation (PR) seats.</div>
<div>
	&nbsp;</div>
<div>
	In this regard the total spending of candidates (both FPTP and PR) can be counted at Rs 6.90 billion, assuming that they will spend as per the EC&rsquo;s directive. According to EC&rsquo;s directive, a FPTP candidate can spend a maximum of Rs 1 million in his/her constituency whereas the spending ceiling of a PR contender is maxed at Rs 75,000.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Election Commission does not have effective monitoring mechanism to control election fraud and excessive expenditure by candidates. EC spokesperson Bir Bahadur Rai said that there is no formal complaint against candidate pertaining to their expenses so far. He suggested to ask EC Chief Commissioner to ask about frauds by candidate and denied to comment on the issue.</div>',
			'published' => true,
			'created' => '2013-11-20',
			'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' => 'With the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).',
			'sortorder' => '1991',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '2095',
			'article_category_id' => '137',
			'title' => 'Nepal Gains In Global Prosperity Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>--By TC Correspondent</strong></div>
	<div>
		&nbsp;</div>
	<div>
		D<span style="font-size: 12px;">espite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal&rsquo;s progress mainly in the area of personal freedom. &nbsp;Nepal scored 77 points in the personal freedom sub-index which includes sections such as civil liberties and tolerance among ethnic groups. The sub-index highlights more freedom of choice for ordinary Nepalis and ethnic harmony in the country. The Legatum Prosperity Index has been benchmarking 142 countries since 2007 in 8 distinct sub-indices: economy, education, entrepreneurship and opportunity, governance, health, personal freedom, safety and security and social capital.&nbsp;</span></div>
	<div>
		&nbsp;</div>
	<div>
		Nepal&rsquo;s economic performance was not seen satisfactory as the country declined 5 places to 92nd position in economy sub-index, mainly because of decline in its gross domestic savings. Nepal also moved down in the safety and security sub-index, by 17 places to 101st due to increase in state violence and the number of refugees. Similarly, Nepal also did not fare well in entrepreneurship and opportunity as the country was placed at 111th position in the sub-index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal ranked 100th in governance, 104th in education, 97th in health and 95th in social capital sub-indices. However, Nepal ranked above India, Bangladesh and Pakistan in the overall index. Bangladesh ranked below Nepal at 103rd position whereas India was placed at 106th in the index. Bangladesh ranks above India in the index for the first time in 2013. Although Bangladesh&rsquo;s rank has remained constant since last year, India has declined five places in the same period. India has fallen down the Prosperity Index rankings consistently over the last five years. Pakistan was the lowest ranking country in the entire Asia-Pacific region with 132nd position whereas China stood at 51st in the index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Norway ranks first in overall Prosperity, as it has since 2009, confirming its place as the most prosperous country in the world for the fifth consecutive year. The country also ranks first in the economy and social capital sub-index in 2013. Switzerland, Canada, Sweden and New Zealand secured 2nd, 3rd, 4th and 5th position respectively. Meanwhile, US ranked 11th in the index. &nbsp;US moved down four places to 24th in the Economy sub-index. Countries that have overtaken the US in the economy sub-index include New Zealand (17th) and South Korea (19th), among others. The UK has moved down three places to 16th in overall Prosperity, as a result of decreases in the rankings for six out of eight sub-indices since last year. The UK has been leapfrogged by Austria (15th), Germany (14th), and Iceland (13th).</div>
</div>',
			'published' => true,
			'created' => '2013-11-11',
			'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' => 'Despite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal’s progress mainly in the area of personal freedom.',
			'sortorder' => '1990',
			'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' => '2141',
			'article_category_id' => '48',
			'title' => 'Manifestation Of Everything',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Madan Lamsal</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="NO Laughing Matter" src="/userfiles/images/nlm%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 409px;" />Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon. In ancient times, men and women manifested their parts of attractive bodies to entice the opposite sex. In modern cinema civilization, you know better how the issue of manifestations has been debated as part aesthetics or sex. If you watch a well-manifested cinema, you talk more about it than the storyline it carried.</div>
<div>
	&nbsp;</div>
<div>
	On duty-side as well, the principle of enticement has not changed much. For instance take Nepal&rsquo;s political parties&rsquo;, that are contesting the Constituent Assembly (CA) elections, hope to hold CA elections in the month of November. They have made their supposedly election manifestoes public and all of them seem to be greatly influenced by the tinsel town concept of selling the cinema inserting some more manifestations in the story. Political heroes also probably forgot the storyline that they are going to write the constitution through the new CA. Their indulgence in the act of enticement by overt manifestation of the to-do-list in CA elections manifestoes establishes nothing else.</div>
<div>
	&nbsp;</div>
<div>
	No credible commitment is found expressed in manifestoes to write a constitution that guarantees the rights of the people. But, regardless of whether constitution would be actually written or not, these manifestoes instead surely promise you everything possible from prostitute to prosperity. If you are on the plank of arguing that, prosperity cannot be promised without writing a new democratic constitution, then you don&rsquo;t understand the culture of political prostitution that is in vogue in Nepal. You never know which leader will partner with which party during the day and the same leader will lean to other party during the night.</div>
<div>
	&nbsp;</div>
<div>
	But, without worrying much about the constitution, if you look at the list of promises made by these manifestoes, you are sure to relish. Everything to everyone, that&rsquo;s how you can sum-up these manifestoes. Home to homeless, power to politicos, tax rebate to tax evading community, partners to young, food to humans, feed to animals, cloths to kids, cure to olds, power connection to houses, empowerment to housewives, love to poor and luxury to riches. The list is so long that, you will be bored if all of them are copied here. You can actually call it your own wish-list.</div>
<div>
	&nbsp;</div>
<div>
	No doubt, the political parties and political leaders are doing the right thing. The private sector of Nepal had long complained that the political leadership has ignored the economic and developmental concerns of Nepal. But these manifestoes have compensated all past lacunae of these sorts. In fact, this time around, all they have done is, shown utmost concern only to the economy and prosperity of the country, nothing else.</div>
<div>
	&nbsp;</div>
<div>
	This is very right strategy to adopt. Because, by this, both the new constitution and the prosperity can be ensured simultaneously. It is natural for them not to worry about constitution and mention its whats and hows in their manifestoes. Every Nepali is well aware that our sovereign constitution is being written with great care, by great experts, somewhere in the world. Could be, it is done in more than one place and we lucky Nepali will have chance to chose the best instant constitution from a fairly long menu. We will get to see it when it is brought here, ready to be implemented.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, it is pointless to ask how our leaders are going to fulfill such an extraordinarily long list of promises without arranging resources and plans. Their duty is just to make the list, not to consider about the feasibility and finance of the related projects. For that, we again know, money will come from the same window where the constitution would be coming.</div>
<div>
	&nbsp;</div>
<div>
	My only last confusion is: whom to vote whereas all manifestoes look the same? Oh yeh! I can console saying that every party in Nepal is not different in vital issues. That is manifested!</div>',
			'published' => true,
			'created' => '2013-11-24',
			'modified' => '2013-11-24',
			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon.',
			'sortorder' => '1989',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '2135',
			'article_category_id' => '150',
			'title' => 'Business Briefs (11 - 17 November 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Ncell introduces Facebook pack</strong></span></div>
<div>
	Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market. It offers the customers with a choice to subscribe data service for using Facebook only. The pack will be available on a daily, weekly and monthly basis and the customers can subscribe to any one of them as per their requirement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Kobe LED TVs in Market</strong></span></div>
<div>
	Bhajuratna Electronics Pvt Ltd has introduced Kobe LED TVs in the market. According to the company, the TVs are targeted to those customers who want LED TVs at an affordable price. The TVs are available in 22 and 32 inch sizes, and have features like 3d Comb Filter, Dynamic Noise Reduction, Hotel Mode, Volume Leveller, Cinema Zoom, USB High Speed 2.0, Eco Vision and HDMI. The TVs will be made available through 14 showrooms throughout the country. The company is giving out a warranty of one year on both the models of TVs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Hero Announces Winners&nbsp;of Dashain Tihar Offer</strong></span></div>
<div>
	General Marketing Pvt Ltd, the authorized distributors of Hero motorcycles for Nepal has announced the winners of second lucky draw of its Dashain and Tihar offer &lsquo;Hero Blockbuster Deal&rsquo;. The three winners have won Rs 100,000, Rs 75,000 and Rs 50,000 from the lucky draw.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Colors&rsquo; New Handsets&nbsp;</strong></span></div>
<div>
	Colors Mobile has introduced two new handsets, Star 3G (X- 30) under its star series phones and new X-Factor Idol (X-16) in the market. Colors Star 3G is powered by 1.2 GHz dual core processor and comes with 3.5 inch capacitive multi-touch screen, front and rear cameras and 1200 mAh battery. Colors Idol (X-16) is a dual SIM phone that runs on Android 2.3 and is powered by a 1 GHz processor, and has 512 MB of ROM and 256 MB of RAM.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsara Joins Hands Al Ansari&nbsp;</strong></span></div>
<div>
	Samsara Money Transfer has entered into an agreement with UAE based Al Ansari Exchange. Following the agreement, money could be received from any branches of Samsara in Nepal sent from the Al Ansari Exchange in UAE. Executive Vice Chairman of Samsara Jeewan Babu Shrestha and Rashed A. Al Ansari, General Manager of the Al Ansari Exchange, signed an agreement to this effect recently. Samsara claims that it has more than 1 thousand 8 hundred agents across Nepal.</div>',
			'published' => true,
			'created' => '2013-11-12',
			'modified' => '2013-11-24',
			'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' => 'Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market.',
			'sortorder' => '1988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '2140',
			'article_category_id' => '151',
			'title' => 'Higher Studies In Crisis Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis. Responding to this necessity, recently a complete course on Crisis Management has been introduced in Nepal for the first time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Samarpan Academy - Institute of Crisis Management Studies (ICMS) has launched Masters Degree in Crisis Management &nbsp;course &lsquo;Masters in Crisis Management&rsquo; (MCM) in affiliation with &nbsp;Tribhuwan University. The college&rsquo;s management is presided by Dr Ram Thapaliya, a PhD holder in Crisis Management. Balananda Sharma, fLieutenant General (Rtd) of Nepal Army, is the principal of the college. Sharma played key role in the management, rehabilitation and integration of the Maoist combatants as coordinator of the secretariat of the Army Integration Special Committee (AISC). &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other key figures behind the college are Former Inspector General of Police Sanat Basnet, Immediate past President of &nbsp;Federation of Nepalese Chambers of commerce and Industry (FNCCI) &nbsp;Kush Kumar Joshi, Nepali Congress Leader Nabindra Raj Joshi, UCPN-Maoist leader Khimlal Devkota, CPN UML Leader Shanti Adhikari and Dr. Shivaji Yadav..&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Elaborating on the objective of the institution, Principal Sharma said that the sole motive behind introducing the course is to minimize consequences of crisis by managing it &nbsp;rather than to make profit. &ldquo;This is an experience sharing institute,&rdquo; he says. &ldquo;If a crisis can be managed systematically, we can minimize the consequences a lot.&rdquo; Sharma claims that Crisis Management students are salable in international market too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Course Specs</strong></div>
<div>
	Students who have completed &nbsp;bachelor&rsquo;s level with at least 2nd division are eligible to enroll for this course. The course includes basic knowledge on crisis management, various types of crisis that Nepal has been through and case studies on various international crisis incidents. The college is planning to enroll 20-30 students in its first batch and has long term plans to extend its capacity to enroll 40-50 students in each batch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>International Students&nbsp;</strong></div>
<div>
	The college is looking forward to teach international students too. &ldquo;Developed countries in west want to study about developing countries as the latter face different types of crisis,&rdquo; Sharma says adding, &ldquo;International teachers too want to come here to teach this course&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Fee Structure</strong></div>
<div>
	Four-semester course fee for a Nepali student is set at Rs 515,500. Similarly, it is Rs 817,600 for students from SAARC region and USD 10,000 for students from other countries. &ldquo;There is a provision for scholarship for genuine and needy,&rdquo; said Sharma.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis.',
			'sortorder' => '1987',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
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		)
	),
	(int) 12 => array(
		'Article' => array(
			'id' => '2139',
			'article_category_id' => '134',
			'title' => '“We Are Not Here To Complain.  We Are Here To Achieve”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">Turkish Airlines took to the skies 80 years ago as Turkey&rsquo;s flag carrier. It was started with the goal of becoming one of Europe&rsquo;s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September. According to the airlines, roundtrip flights between Istanbul and Kathmandu are operated 4 times per week on Tuesdays, Thursdays, Fridays and Sundays from Istanbul, and Mondays, Wednesdays, Fridays and Saturdays from Kathmandu. In an interview with <em>The Corporate&rsquo;s <strong>Siromani Dhungana</strong></em>, General Manager of Turkish Airlines <strong><em>Celal Baykal</em></strong> explains the journey of Turkish airlines in Nepal while also highlighting the future plans of this airline. <strong>Excerpt:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What attracted Turkish Airlines &nbsp;for launching its services in Nepal?</strong></div>
<div>
	We officially started our airline in Nepal from September, this year. The reason why we are here is that we are trying to operate in as many countries as &nbsp;we can so as &nbsp;to be an airline reaching many destinations all over the world. Similarly, we want to expand our network because we want to be a network generator. We particularly chose Nepal because of its huge potential. Nepal was already in our plan for many years. But, it took some time to arrange everything and now finally we are operating in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Can you please describe the background of your decision to come to Nepal?</strong></div>
<div>
	Yes, I remember those days very well. Expanding reach to a new country involves a lot of research and know-how to gather a lot of information about the country and you have to analyze it as soon as possible. The first thing I did was to get in touch with colleagues in the business environment. I developed connections with my sectoral colleagues who have been working in Nepal and also with people who have visited Nepal before. Coming to Asia and in Nepal was itself something new for me. I was in Amsterdam. So, if it is a big change, it is also a challenge in my career providing me with numerous opportunities to learn about markets all over the world.</div>
<div>
	&nbsp;</div>
<div>
	<strong>How has the journey for Turkish airlines in Nepal been so far?</strong></div>
<div>
	We are doing quite well. I cannot put anything negative yet. Our flights are almost fully booked and sometimes we have over-bookings. There is a lot of potential in Nepal and we need to focus on that. There are so many places with natural landscapes and thus viable for natural tourism. Considering these prospects, we are aspiring to do much more in Nepal in the&nbsp;</div>
<div>
	near future.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What do you have to say about market competition in Nepal?</strong></div>
<div>
	Competition is ever-present in any field. If there is no competition, you become weak. So, I consider competition to be beneficial. We have been working in the market regardless of competition. This was the same in Amsterdam too, where I worked before. As an airline, we are used to lot of competition.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are your strategies to expand your market here in Nepal?</strong></div>
<div>
	We want to strongly increase our presence but, we don&rsquo;t know where and what the time will be. In the near future, we will surely increase our frequencies. There are some places where we want to expand and one of these places is Nepal. We have just begun our services here and we definitely intend to do more in the future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Where do you see yourself in 5 years?</strong></div>
<div>
	In 5 years time, we will be able to understand the market more closely and it is sure to make a difference in my personal career as well. We will learn about the cultures here and incorporate it in our business strategy.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are the complications of conducting business in Nepal?</strong></div>
<div>
	We do not keep looking at problems but, ways to solve them. If you talk about problems, you can continue talking about them for years. We are here to achieve, not to complain. We are here to make a difference. Looking at Nepal&rsquo;s human resource, I can say there is no much difference in terms of quality of people. Though there are some differences between working in Amsterdam and in Nepal, but I am confident that I can rely on Nepali colleagues to get through it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What assurances do you give about the service standards of your airline?&nbsp;</strong></div>
<div>
	We have already won some awards, especially the ones related to hospitality and that is our day to day experience. We also won the best kitchen in business class and even in the economy class. We are still investing in our catering and in some areas, we have also tried changing our catering services for responding to our consumers need. &nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Turkish Airlines took to the skies 80 years ago as Turkey’s flag carrier. It was started with the goal of becoming one of Europe’s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September.',
			'sortorder' => '1986',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
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	(int) 13 => array(
		'Article' => array(
			'id' => '2091',
			'article_category_id' => '91',
			'title' => 'Election Boosting National Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Financial experts have claimed that CA election will spur the national economy. Government and non-government officials have claimed that the national economy will benefit from the expenditure made by the government, political and non-political organizations and electoral candidates.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp; &ldquo;The expenditures in election can be taken as investment in the country&rsquo;s economy,&rdquo; says Finance Minister Shanker Prasad Koirala. He said that the upcoming election will boost economic activities of political parties and help to flow their savings in the market.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;The money being used in the election process will ultimately go to the private sector,&rdquo; said Koirala adding, &ldquo;The election process is also likely to increase the recurrent expenditure and that will positively impact Nepal&rsquo;s economy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However Koirala noted that the election process is unlikely to boost the capital expenditure citing that most of the government funded projects are halted for the time being.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dr Chiranjivi Nepal, Economic Advisor at the Ministry of Finance, also expressed similar views. &ldquo;Injecting extra money into the market, increase in demand and supply of goods and services will lead to increase in domestic production,&rdquo; he said. &nbsp;However, Dr Nepal also cautioned of rise in inflation as more money is being poured into the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Election campaign expenditures of election candidates is another contributor in spurring the local economy. Aggressive electoral campaign of CA candidates have shown significant activities in the service sector that includes businesses such as hotels/restaurants, airlines and transport services. The campaigns have also considerably raised the print business in the recent days along with the increase in the supply of paper, utensils and printing materials. The Election Commission (EC) has capped the campaigning expenditure of a candidate in each constituency at Rs 1 million. With 240 constituencies, the total campaigning expenses is estimated to be around Rs 240 million, even if it is assumed that only a single candidate is contending. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Expenditures are high also on the government&rsquo;s end. The government has allocated Rs 16 billion budget for entire CA election process in the current fiscal budget. The first CA election held on April 10, 2008 saw a disbursement of Rs 6 billion from the government fund. According to the Election Commission of Nepal (EC), the expenditure also includes hiring of temporary security personnel to assist in the elections. On October 22, the government recruited 45,000 temporary police personnel for a 45-day time period. This temporary employment will also boost the domestic economy.&nbsp;</div>',
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			'description' => 'Nepal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.',
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			'id' => '2112',
			'article_category_id' => '109',
			'title' => 'Nepse Observes Meager Gain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. &nbsp;The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div>
<div>
	&nbsp;</div>
<div>
	The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the &nbsp;Hotel sector index also increased &nbsp;by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Nepse on Sunday</strong></p>
</div>
<div>
	Nepse index inclined 1 point on the first day of this week closing at 580. &nbsp;A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div>
<div>
	&nbsp;</div>
<div>
	Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. &nbsp;Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>',
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			'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.',
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			'id' => '2151',
			'article_category_id' => '140',
			'title' => 'NC-UML Sweep CA Polls; UCPN (Maoist) Cries Foul',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes. As The Corporate went to the press, Nepali Congress has taken the lead towards the first-past-the-post electoral system securing 105 seats, followed by CPN (UML) with 91 seats. The largest party of the erstwhile CA, UCPN (Maoist), however, has trailed far behind with only 25 seats in its kitty. Likewise, Terai Madhes Loktantrik Party and Madhesi Janadhikar Forum Democratic have each secured four seats.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Among others, Rastriya Prajatantra Party has won 3 seats, Madhesi Janadhikar Forum Nepal 2, Sadbhawana Party 1, Nepal Workers Peasants Party 1 and Terai Madhes Sadbhawana Party has won 1 seat. Similarly, two independent candidates also managed to secure a berth in the upcoming CA. As the poll results trickled down, UCPN (Maoist) has claimed &lsquo;irregularities&rsquo;, &lsquo;conspiracy&rsquo; and &lsquo;poll rigging&rsquo; to be behind its defeat. Holding a press conference last Thursday, UCPN (Maoist) chairman Pushpa Kamal Dahal has demanded the review of the entire election process. He has also warned to boycott the Constituent Assembly if his party&rsquo;s demand is not met. However, Election Commission, government officials and other parties have ruled out the review of the election process. Carter Center along with other poll observing groups has said that the polls were held in a free and fair manner. As The Corporate went to press on Sunday, the counting of the vote under proportional representation system is going on. Out of 16,72,519 votes counted in various constituencies across the country, CPN (UML) has led the counting with 4,68,426 votes. Likewise, Nepali Congress is following the CPN (UML) with 4, 39,438 votes. UCPN (Maoist), which suffered a big blow towards FPTP system, is in the fourth position with 2,81,338 votes. Rastriya Prajatantra Party-Nepal, a pro-monarchist party, has emerged as a fourth party with 1,35,054 votes.</div>',
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			'created' => '2013-11-25',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Defying banda by the poll opposing parties and despite the cases of violence, almost 70 percent of the total voters showed up at the polling booth last Tuesday to cast their votes',
			'sortorder' => '1998',
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			'id' => '2150',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (25 November - 01 December)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Fed Plans to Trim Stimulus Soon</strong></span></div>
<div>
	Federal Reserve officials said they plan to begin trimming the central bank&#39;s stimulus efforts in &quot;the coming months&quot;. In the meeting minutes, released on Wednesday, policy makers said they &quot;generally expected that the data would prove consistent with the Committee&#39;s outlook for ongoing improvement in labor market conditions and would thus warrant trimming the pace of purchases in coming months&quot;. They believe that the US recovery is strengthening, according to minutes from their October meeting.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Global Economic growth Slowing: OECD</strong></span></div>
<div>
	Global growth for 2013 and 2014 has been downgraded &quot;significantly&quot; after weak prospects in emerging markets, says the Organisation for Economic Co-operation and Development. Global GDP this year is now expected to grow by 2.7%, down from 3.1% forecast in May. But it said global economic growth would speed up by 2015.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>JP Morgan in Record $13bn Settlement&nbsp;</strong></span></div>
<div>
	US bank JP Morgan Chase has agreed to a record $13bn (&pound;8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Gold Posts Biggest Weekly Loss in 2 Months&nbsp;</strong></span></div>
<div>
	Gold ended little changed on Friday but the metal posted its sharpest weekly drop in more than two months as strong US economic data raised uncertainty over the timing of a slowdown in stimulus measures. Spot gold inched up 31 cents to close at $1,242.66 an ounce. The metal hit a fresh 4-1/2-month low of $1,236.29 in the previous session.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>China&rsquo;s Gezhouba Completes Hydro Project in Pakistan</strong></span></div>
<div>
	China Gezhouba Group Company recently completed the construction of &nbsp;N-J Hydro-Power Project successfully. Pakistan State Councilor Syed Ahemed appreciated CGGC for completing the project successfully, CGGC&rsquo;s representative in Nepal said in a press release issued on Sunday. &ldquo;CGGC have made great contribution to the N-J hydro power project, I hope the company will continue to work effectively in the days to complete the project successfully,&rdquo; the press release quoted Ahemed as stating during his visit to the project site recently.</div>',
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			'created' => '2013-11-25',
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			'description' => 'US bank JP Morgan Chase has agreed to a record $13bn (£8bn) settlement with US regulators for misleading investors during the housing crisis. It is the largest settlement ever between the US government and a corporation.',
			'sortorder' => '1997',
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		'Article' => array(
			'id' => '2149',
			'article_category_id' => '138',
			'title' => 'LDCs Call For Climatic Loss & Damage Control Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The group of world&#39;s least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC). &nbsp;According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming. Loss and damage occurs when climate change related harm affects vulnerable people and countries. The issue was featured prominently in negotiations at the UN Climate Conference, which took place from the 11-22 November in Warsaw, Poland.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister, lead negotiator on loss and damage for the group of G77, says, &ldquo;We are trying to negotiate a mechanism that will address what happens if food production is no longer feasible, or that people have to leave their homelands because of climate change.&rdquo; Malia Talakai, the AOSIS spokesperson for loss and damage, adds, &ldquo;SIDS are also put in a position of having to deal with loss and damage from climate change impacts that cannot be adapted to. The survival of our member nations is in all our hands. This is a grave responsibility and we must act with the urgency it demands and establish an international mechanism to address loss and damage in Warsaw. The international mechanism must address the needs of SIDS and other particularly vulnerable countries.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage is complex because it is about the human face of climate change impacts. We are not merely discussing economic costs, we are not discussing only weather events, but also slowly creeping changes from climate change,&rdquo; argues Elia del Carmen Guerra of Panama.</div>
<div>
	&nbsp;</div>
<div>
	Patience Damptey, negotiator for the African Group, adds, &ldquo;Communities in developing countries who have done the least to cause climate change are now suffering these irreversible impacts. That is why we have a united position among developing countries to create an UNFCCC loss and damage mechanism.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Adao Barbosa, outlining the position of the LDC group, said, &ldquo;If we leave Warsaw without a loss and damage mechanism we will have failed in building a comprehensive response to climate change that truly considers the needs of the poor.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Juan Hoffmaister concludes for G77, &ldquo;It&rsquo;s unacceptable that some continue to sideline this issue, or fob it off as a &lsquo;research agenda&rsquo; item. We do need more knowledge, but above all we need more action and political commitment to deal with the concerns of the world&rsquo;s most vulnerable people.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Loss and damage from climate change is a reality today across the world,&rdquo; says Naderev &ldquo;Yeb&rdquo; Sano, Climate Change Commissioner of the Philippines, &ldquo;My family ground, my home country just suffered a Typhoon, for which the scale has yet to be created&rdquo;.</div>
<div>
	&nbsp;</div>
<div>
	He adds: &ldquo;Developed country emissions cut targets are dangerously low and must be raised immediately, but even if they were in line with developing country demands of reducing 40&ndash;50% on 1990 levels, we would still have locked&ndash;in climate change and would still need to address the issue of loss and damage.&rdquo;</div>',
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			'description' => 'The group of world's least developed countries (G-77) and China calls for an international coordinated response from the United Nations Framework Convention on Climate Change (UNFCCC).  According to a joint press statement by the group and China, it will help tackle the challenge of long-term changes brought by global warming.',
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		'Article' => array(
			'id' => '2148',
			'article_category_id' => '138',
			'title' => 'World Applauds CA Elections',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.</div>
<div>
	&nbsp;</div>
<div>
	According to a press statement by the Office of the Press Secretary at the White House, US hopes that the CA elections will lead to the progress and prosperity of Nepal. &ldquo;These elections mark a vital step in the peace process that began in 2006. Elections like these are a milestone not just for Nepal but for people around the world working to rebuild after conflicts and resolve disputes via constitutional and homegrown means,&rdquo; reads the statement.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Similarly, neighbouring India also hailed the elections as free and fair. &nbsp;In a press statement, Indian Ministry of External Affairs said, &ldquo;The successful conduct of free and fair elections &nbsp;in Nepal for the Constituent Assembly-cum-Parliament is an important step towards realizing Nepal&rsquo;s goal of a democratic and prosperous future. The people of Nepal, political parties, Government and security forces and the Election Commission of Nepal deserve to be congratulated for this achievement. The impressive turnout reflects the faith that the people of Nepal have reposed in the democratic process.&rdquo; Likewise, spokesperson of Chinese Foreign Ministry in Beijing congratulated Nepal saying that the elections will bring stability in the country. Similarly, EU and UN also congratulated the people of Nepal for the peaceful and successful conduct of the elections expressing their support to the Nepali people.</div>',
			'published' => true,
			'created' => '2013-11-25',
			'modified' => '2013-11-25',
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			'description' => 'The international community has hailed the historic Constituent Assembly (CA) election in Nepal. Along with India and China, the United States, European Union (EU) and United Nations (UN) congratulated the government, Election Commission and Nepali citizens for successfully conducting the elections.',
			'sortorder' => '1995',
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			'id' => '2147',
			'article_category_id' => '138',
			'title' => 'Ambassador Bodde Inaugurates  US Embassy Book Bus',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	The Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy&rsquo;s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.</div>
<div>
	&nbsp;</div>
<div>
	According to a press release by the embassy, the Book Bus will allow the embassy to reach underserved remote communities in Nepal. &nbsp;&quot;Mobile Internet access and tablet computers are included in the bus, which will give Book Bus visitors access to educational websites and help visitors to learn how to use the latest computer technology,&quot; informed the release. &nbsp;The tablets and computers will be charged using environmentally friendly solar panels located on the roof of the bus. The Bus is stocked with reference, fiction and non-fiction books in addition to periodicals.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Book Bus is an expansion of the US Embassy&rsquo;s seven American Corner libraries located throughout Nepal. &nbsp;&quot;These libraries serve as learning centers for their communities and provide valuable information resources for students and adults alike,&quot; said the embassy. &nbsp;The American Corners also host guest speakers and special programs about the United States, as will the new Book Bus.</div>
<div>
	&nbsp;</div>
<div>
	With the help of a partner organization, Quixote&rsquo;s Cove, the Book Bus will travel throughout the country bringing unique programming and educational resources to communities across Nepal. &nbsp;Through the Book Bus, books will also be donated to young readers in English and Nepali.</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 Ambassador of the United States to Nepal, Peter W. Bodde inaugurated the US Embassy’s first ever mobile library, called the Book Bus, at Shivapuri Higher Secondary School in Maharajgunj on Friday.',
			'sortorder' => '1994',
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			'id' => '2146',
			'article_category_id' => '137',
			'title' => '‘South Asian Diaspora Investment Bank Could Supplement SAARC Efforts’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.</div>
<div>
	&nbsp;</div>
<div>
	This is part of the &lsquo;trilateralism idea&rsquo; mooted by former Bangladesh Foreign Minister Iftekhar Chowdhury at the second South Asian Diaspora Convention (SADC) in Singapore today. Chowdhury said the bank could play a role in guiding South Asian diaspora investment, especially in the infrastructure sector, in the region which is a market of 1.8 billion people. Chowdhury told that the 38-million strong South Asian diaspora has an estimated wealth of $1.3 trillion and was looking at new investment opportunities.</div>
<div>
	&nbsp;</div>
<div>
	The diaspora comprising 20 million Indians, 7 million Bangladeshis, 8 million Pakistanis and 3 million Sri Lankans, is estimated to save about $350 billion from their annual estimated earnings of $1 trillion. Yesterday during his address at the SADC, Finance Minister P. Chidambaram called on the Indian diaspora to invest in India and be part of the country&rsquo;s prosperity in his speech at the SADC yesterday. Chowdhury said it is the right time to channel that investment to the South Asian region, given the many politically-impeded challenges being faced by these investors in placing their money in this vast region.</div>
<div>
	&nbsp;</div>
<div>
	He is currently a principal fellow at the Institute of South Asia Studies (ISAS), the organiser of the two-day SADC which ended today. The proposed South Asian Diaspora Investment Bank could be located in one of the international financial centres &mdash; London, New York or Singapore. Chowdhury said the bank&rsquo;s role would bring about a change in the politically-weakened SAARC and could give a big impetus to the regional organisation which has made little progress since its inception.</div>
<div>
	<em>(The Hindu Business Line)</em></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' => 'An investment bank to manage the $1.3-trillion wealth of the South Asian diaspora can help supplement the efforts of SAARC, says an expert. It is felt that the importance of the grouping has been eroded over the years due to political differences across the region, he said.',
			'sortorder' => '1993',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 6 => array(
		'Article' => array(
			'id' => '2137',
			'article_category_id' => '145',
			'title' => 'Five Years After The Global Crisis, The World Is No Safer',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size: 12px;">--By Pradumna B Rana</span></strong></div>
<div>
	&nbsp;</div>
<div>
	T<span style="font-size: 12px;">he Asian financial crisis of 1997&ndash;98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned. Complacency partially set the stage for the global economic crisis of 2008&ndash;09, and once again, under the auspices of the newly created G20, a large number of policies were announced. Have they been implemented, and has the world become a safer place? Not really.</span></div>
<div>
	&nbsp;</div>
<div>
	This leads to three main reasons for concern. The first is complacency yet again. Five years ago, credit markets were frozen, international trade had fallen off the cliff and the global economy was headed towards a great depression similar to the one experienced in the 1930s. There was an acute sense of urgency; the major economic powers agreed to coordinate monetary and fiscal policies. These efforts were successful and instead of a global depression the world experienced &lsquo;the great recession&rsquo;.</div>
<div>
	&nbsp;</div>
<div>
	Now financial markets no longer pose an immediate systemic threat. But the global economy is far from healthy; it is operating well below capacity, with millions unemployed. Policy coordination is still required, but is difficult to obtain. While the G20 made substantial progress in global economic reforms during its first three summits &mdash; that is, until the Pittsburgh summit &mdash; it is now headed towards obsolescence.</div>
<div>
	&nbsp;</div>
<div>
	The second reason for lack of progress in global reforms is the reluctance of the United States to give up its veto power and control of the IMF. In 1944, the United States, as the global hegemon of the time, helped establish multilateral rules, including those for finance and the IMF. This led to financial stability and unprecedented economic prosperity, not only for members of the club but also in other countries around the world &mdash; especially in the BRICS.</div>
<div>
	&nbsp;</div>
<div>
	Given their growing economic footprint in the world economy, the BRICS now desire a greater voice and say in running the IMF, but some members are reluctant to allow this. This is because, like many other clubs, the IMF is designed in such a way that founding members ultimately maintain control. Hence, one of the centrepieces of the proposed global reforms, namely the G20 pledge to transfer 6 per cent of quota and voting power at the IMF to large emerging markets, cannot be implemented.</div>
<div>
	&nbsp;</div>
<div>
	The third reason for limited progress in reforms is the relatively weak cohesion within the BRICS. The establishment of the G20 in the aftermath of the global economic crisis has given the BRICS a historically unprecedented opportunity to sit around the high table with G7 member states and participate in discussions on international economic policies as key stakeholders. But the BRICS have become &lsquo;BRICS without mortar&rsquo;. For example, when the position of IMF managing director became vacant last year, even though it was well known that the IMF tradition of locking out non-Europeans would be strongly protected, the BRICS should have quickly made a claim for the position, fielded a top-rate candidate and provided a strong backing. But that did not happen. The BRICS claim came late &mdash; perhaps as an after-thought.</div>
<div>
	&nbsp;</div>
<div>
	For the above reasons, many of the proposed global reforms have not been implemented and the world is not much safer now than it was before the global economic crisis. How might the situation evolve in the future? It depends on how global politics plays out among the various actors.</div>
<div>
	&nbsp;</div>
<div>
	Recent economic turmoil has demonstrated beyond doubt that unfettered global markets and greed are a dangerous cocktail that can lead to &lsquo;elite&rsquo; capture and insider trading and put global prosperity at risk. A more legitimate multilateral rules-based system is one of the best ways to ensure that the benefits of globalisation are shared in an equitable manner. Another way is to move to a more decentralised architecture with global and regional institutions working together in a complementary manner. Compromises must therefore be struck so that economies can move towards either one of these two systems. The world would then become a safer place.</div>
<div>
	&nbsp;</div>
<div>
	If the United States decides to shun post-war multilateralism and go for preferential deals with like-minded countries instead, then the global order could fall apart. The world would then be back to the &lsquo;beggar thy neighbour&rsquo; policies of the 1930s to the detriment of all, including the United States and the BRICS. US interest in negotiating the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership is a dark cloud on the horizon. Regional schemes, if well designed, can be stepping stones to multilateralism: let us hope that the desire of the United States in pursuing these schemes is not to lock out other countries &mdash; especially China and India.</div>
<div>
	&nbsp;</div>
<div>
	<em>(Pradumna B. Rana is Associate Professor in International Political Economy at the S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University.)</em></div>
<div>
	&nbsp;</div>
<div>
	Source: East Asia Forum, http://www.eastasiaforum.org/2013/11/15/five-years-after-the-global-crisis-the-world-is-no-safer/</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' => 'The Asian financial crisis of 1997–98 led to calls for the reform of the international financial architecture. A large number of policies were proposed for crisis prevention and crisis resolution, but with the faster-than-expected recovery of the Asian countries, complacency set in and reforms were abandoned.',
			'sortorder' => '1992',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	(int) 7 => array(
		'Article' => array(
			'id' => '2136',
			'article_category_id' => '91',
			'title' => 'CA Polls: The Expense  For Peace And Constitution',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	W<span style="font-size: 12px;">ith the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Political parties and their candidates have made hefty commitments on new constitution drafting and made lofty promises of development to lure voters.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Despite the failure of the first CA to draft a new constitution, stakes of politicos are looking pretty high this time. This election has the potential to change the current political equation. The change may come in the form of emergence of new political powers along with the obliteration of some. Whereas, voters are looking much confused haunted by the memories of first CA&rsquo;s unfortunate demise.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	After the first CA election, Nepal witnessed a tense period of rising disputes among the major political parties that slashed the hopes of ordinary citizens leaving the country into a state of uncertainty and political disarray. According to official documents, more than Rs 15 billion, was spend within 4 years on constitution drafting process including the first CA election held in 2008 April.</div>
<div>
	&nbsp;</div>
<div>
	The estimated amount does not include the funds allocated for peace process (integration of former Maoists combatants) which reached over Rs 3 billion. Though, the size of total spending is disputed, various figures claim that the expenditures can be counted in tens of billions of rupees.</div>
<div>
	&nbsp;</div>
<div>
	However, after the CA was dissolved last year by the Dr Babu Ram Bhattarai-led government, the huge investment made in drafting a new constitution was seen as sheer waste of money. Skepticism about the new CA to complete its task remains high in the air. In this context question are being raised strongly on new CA&rsquo;s ability to deliver a new constitution and whether the huge spending was worthwhile.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The constitution drafting process of Nepal has become the most expensive one in the world. The country would have witnessed dramatic development and prosperity if that money was invested in productive sectors,&rdquo; said Suraj Vaidya, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</div>
<div>
	&nbsp;</div>
<div>
	Vaidya was speaking to reporters last week in an &lsquo;open press meet&rsquo; held at Durbarmarg, Kathmandu to inform about the FNCCI&rsquo;s protest programme against the general strike and transportation shutdown organised by the poll opposing alliance. Economists are also cautioning the political players to become more responsible as the rising election expenditure is likely hold back the economic growth of the country if the new CA fails to draft a new constitution. &ldquo;The election expenditure will easily reach Rs 30 billion this time which was initially allocated at Rs 16 billion in the budget of the current fiscal year 2013/14,&rdquo; opined Prof Dr Bishwambher Pyakuryal. According to him, the rise in expenditure will reach 6 per cent of the total budget.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The spending can be taken as gainful investment only if a new constitution is drafted and if the country achieves political and economic stability,&rdquo; said Pyakuryal adding, &ldquo;If that does not happen then we need serious discussions about the possible impacts of election expenditures on Nepal&rsquo;s economy.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	Apart from the government&rsquo;s expenditure, the mammoth size of spending of political parties and candidates is also making the election more expensive. According to the Election Commission, 6,128 candidates are contesting for 240 constituencies across the country in the first-past-the-post or FPTP electoral process. Similarly, 10,400 candidates are listed as candidates for the proportional representation (PR) seats.</div>
<div>
	&nbsp;</div>
<div>
	In this regard the total spending of candidates (both FPTP and PR) can be counted at Rs 6.90 billion, assuming that they will spend as per the EC&rsquo;s directive. According to EC&rsquo;s directive, a FPTP candidate can spend a maximum of Rs 1 million in his/her constituency whereas the spending ceiling of a PR contender is maxed at Rs 75,000.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, Election Commission does not have effective monitoring mechanism to control election fraud and excessive expenditure by candidates. EC spokesperson Bir Bahadur Rai said that there is no formal complaint against candidate pertaining to their expenses so far. He suggested to ask EC Chief Commissioner to ask about frauds by candidate and denied to comment on the issue.</div>',
			'published' => true,
			'created' => '2013-11-20',
			'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' => 'With the election process preparations, canvassing and campaigning finally over, Nepali voters are all set to cast their votes on Tuesday for choosing a new Constituent Assembly (CA).',
			'sortorder' => '1991',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	(int) 8 => array(
		'Article' => array(
			'id' => '2095',
			'article_category_id' => '137',
			'title' => 'Nepal Gains In Global Prosperity Ranking',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<div>
		&nbsp;</div>
	<div>
		<strong>--By TC Correspondent</strong></div>
	<div>
		&nbsp;</div>
	<div>
		D<span style="font-size: 12px;">espite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal&rsquo;s progress mainly in the area of personal freedom. &nbsp;Nepal scored 77 points in the personal freedom sub-index which includes sections such as civil liberties and tolerance among ethnic groups. The sub-index highlights more freedom of choice for ordinary Nepalis and ethnic harmony in the country. The Legatum Prosperity Index has been benchmarking 142 countries since 2007 in 8 distinct sub-indices: economy, education, entrepreneurship and opportunity, governance, health, personal freedom, safety and security and social capital.&nbsp;</span></div>
	<div>
		&nbsp;</div>
	<div>
		Nepal&rsquo;s economic performance was not seen satisfactory as the country declined 5 places to 92nd position in economy sub-index, mainly because of decline in its gross domestic savings. Nepal also moved down in the safety and security sub-index, by 17 places to 101st due to increase in state violence and the number of refugees. Similarly, Nepal also did not fare well in entrepreneurship and opportunity as the country was placed at 111th position in the sub-index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Nepal ranked 100th in governance, 104th in education, 97th in health and 95th in social capital sub-indices. However, Nepal ranked above India, Bangladesh and Pakistan in the overall index. Bangladesh ranked below Nepal at 103rd position whereas India was placed at 106th in the index. Bangladesh ranks above India in the index for the first time in 2013. Although Bangladesh&rsquo;s rank has remained constant since last year, India has declined five places in the same period. India has fallen down the Prosperity Index rankings consistently over the last five years. Pakistan was the lowest ranking country in the entire Asia-Pacific region with 132nd position whereas China stood at 51st in the index.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		Norway ranks first in overall Prosperity, as it has since 2009, confirming its place as the most prosperous country in the world for the fifth consecutive year. The country also ranks first in the economy and social capital sub-index in 2013. Switzerland, Canada, Sweden and New Zealand secured 2nd, 3rd, 4th and 5th position respectively. Meanwhile, US ranked 11th in the index. &nbsp;US moved down four places to 24th in the Economy sub-index. Countries that have overtaken the US in the economy sub-index include New Zealand (17th) and South Korea (19th), among others. The UK has moved down three places to 16th in overall Prosperity, as a result of decreases in the rankings for six out of eight sub-indices since last year. The UK has been leapfrogged by Austria (15th), Germany (14th), and Iceland (13th).</div>
</div>',
			'published' => true,
			'created' => '2013-11-11',
			'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' => 'Despite ongoing political uncertainty, Nepal has achieved higher prosperity. According to the Legatum Prosperity Index 2013, Nepal climbed 6 places up this year to reach 102nd position among 142 countries across the world. Nepal was ranked 108th position last year. The index published by the Legatum Institute, a UAE-based investment organisation and think-tank shows Nepal’s progress mainly in the area of personal freedom.',
			'sortorder' => '1990',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 9 => array(
		'Article' => array(
			'id' => '2141',
			'article_category_id' => '48',
			'title' => 'Manifestation Of Everything',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By Madan Lamsal</strong></div>
<div>
	&nbsp;</div>
<div>
	<img alt="NO Laughing Matter" src="/userfiles/images/nlm%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 409px;" />Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon. In ancient times, men and women manifested their parts of attractive bodies to entice the opposite sex. In modern cinema civilization, you know better how the issue of manifestations has been debated as part aesthetics or sex. If you watch a well-manifested cinema, you talk more about it than the storyline it carried.</div>
<div>
	&nbsp;</div>
<div>
	On duty-side as well, the principle of enticement has not changed much. For instance take Nepal&rsquo;s political parties&rsquo;, that are contesting the Constituent Assembly (CA) elections, hope to hold CA elections in the month of November. They have made their supposedly election manifestoes public and all of them seem to be greatly influenced by the tinsel town concept of selling the cinema inserting some more manifestations in the story. Political heroes also probably forgot the storyline that they are going to write the constitution through the new CA. Their indulgence in the act of enticement by overt manifestation of the to-do-list in CA elections manifestoes establishes nothing else.</div>
<div>
	&nbsp;</div>
<div>
	No credible commitment is found expressed in manifestoes to write a constitution that guarantees the rights of the people. But, regardless of whether constitution would be actually written or not, these manifestoes instead surely promise you everything possible from prostitute to prosperity. If you are on the plank of arguing that, prosperity cannot be promised without writing a new democratic constitution, then you don&rsquo;t understand the culture of political prostitution that is in vogue in Nepal. You never know which leader will partner with which party during the day and the same leader will lean to other party during the night.</div>
<div>
	&nbsp;</div>
<div>
	But, without worrying much about the constitution, if you look at the list of promises made by these manifestoes, you are sure to relish. Everything to everyone, that&rsquo;s how you can sum-up these manifestoes. Home to homeless, power to politicos, tax rebate to tax evading community, partners to young, food to humans, feed to animals, cloths to kids, cure to olds, power connection to houses, empowerment to housewives, love to poor and luxury to riches. The list is so long that, you will be bored if all of them are copied here. You can actually call it your own wish-list.</div>
<div>
	&nbsp;</div>
<div>
	No doubt, the political parties and political leaders are doing the right thing. The private sector of Nepal had long complained that the political leadership has ignored the economic and developmental concerns of Nepal. But these manifestoes have compensated all past lacunae of these sorts. In fact, this time around, all they have done is, shown utmost concern only to the economy and prosperity of the country, nothing else.</div>
<div>
	&nbsp;</div>
<div>
	This is very right strategy to adopt. Because, by this, both the new constitution and the prosperity can be ensured simultaneously. It is natural for them not to worry about constitution and mention its whats and hows in their manifestoes. Every Nepali is well aware that our sovereign constitution is being written with great care, by great experts, somewhere in the world. Could be, it is done in more than one place and we lucky Nepali will have chance to chose the best instant constitution from a fairly long menu. We will get to see it when it is brought here, ready to be implemented.</div>
<div>
	&nbsp;</div>
<div>
	Similarly, it is pointless to ask how our leaders are going to fulfill such an extraordinarily long list of promises without arranging resources and plans. Their duty is just to make the list, not to consider about the feasibility and finance of the related projects. For that, we again know, money will come from the same window where the constitution would be coming.</div>
<div>
	&nbsp;</div>
<div>
	My only last confusion is: whom to vote whereas all manifestoes look the same? Oh yeh! I can console saying that every party in Nepal is not different in vital issues. That is manifested!</div>',
			'published' => true,
			'created' => '2013-11-24',
			'modified' => '2013-11-24',
			'keywords' => 'new business age no laughing matter news & articles, no laughing matter news & articles from new business age nepal, no laughing matter headlines from nepal,  current and latest no laughing matter news from nepal, economic news from nepal, nepali no laughing matter economic news and events,  ongoing',
			'description' => 'Manifestation is the crux of all civilizations. There is unfailing debate throughout the human civilization about the beauty and duty about manifestations. Great wars have been fought on the mere issue of manifestation, be that Mahabharat or Anglo-Saxon.',
			'sortorder' => '1989',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '2135',
			'article_category_id' => '150',
			'title' => 'Business Briefs (11 - 17 November 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong>Ncell introduces Facebook pack</strong></span></div>
<div>
	Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market. It offers the customers with a choice to subscribe data service for using Facebook only. The pack will be available on a daily, weekly and monthly basis and the customers can subscribe to any one of them as per their requirement.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Kobe LED TVs in Market</strong></span></div>
<div>
	Bhajuratna Electronics Pvt Ltd has introduced Kobe LED TVs in the market. According to the company, the TVs are targeted to those customers who want LED TVs at an affordable price. The TVs are available in 22 and 32 inch sizes, and have features like 3d Comb Filter, Dynamic Noise Reduction, Hotel Mode, Volume Leveller, Cinema Zoom, USB High Speed 2.0, Eco Vision and HDMI. The TVs will be made available through 14 showrooms throughout the country. The company is giving out a warranty of one year on both the models of TVs.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Hero Announces Winners&nbsp;of Dashain Tihar Offer</strong></span></div>
<div>
	General Marketing Pvt Ltd, the authorized distributors of Hero motorcycles for Nepal has announced the winners of second lucky draw of its Dashain and Tihar offer &lsquo;Hero Blockbuster Deal&rsquo;. The three winners have won Rs 100,000, Rs 75,000 and Rs 50,000 from the lucky draw.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Colors&rsquo; New Handsets&nbsp;</strong></span></div>
<div>
	Colors Mobile has introduced two new handsets, Star 3G (X- 30) under its star series phones and new X-Factor Idol (X-16) in the market. Colors Star 3G is powered by 1.2 GHz dual core processor and comes with 3.5 inch capacitive multi-touch screen, front and rear cameras and 1200 mAh battery. Colors Idol (X-16) is a dual SIM phone that runs on Android 2.3 and is powered by a 1 GHz processor, and has 512 MB of ROM and 256 MB of RAM.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>Samsara Joins Hands Al Ansari&nbsp;</strong></span></div>
<div>
	Samsara Money Transfer has entered into an agreement with UAE based Al Ansari Exchange. Following the agreement, money could be received from any branches of Samsara in Nepal sent from the Al Ansari Exchange in UAE. Executive Vice Chairman of Samsara Jeewan Babu Shrestha and Rashed A. Al Ansari, General Manager of the Al Ansari Exchange, signed an agreement to this effect recently. Samsara claims that it has more than 1 thousand 8 hundred agents across Nepal.</div>',
			'published' => true,
			'created' => '2013-11-12',
			'modified' => '2013-11-24',
			'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' => 'Ncell has launched Facebook Pack that will enable Ncell customers to use Facebook on their mobile handsets at as low as 50 paisa per MB. According to the company, this is the first application-based service package made available by any operator in the Nepali market.',
			'sortorder' => '1988',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	(int) 11 => array(
		'Article' => array(
			'id' => '2140',
			'article_category_id' => '151',
			'title' => 'Higher Studies In Crisis Management',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Ashok Poudel</strong></div>
<div>
	&nbsp;</div>
<div>
	Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis. Responding to this necessity, recently a complete course on Crisis Management has been introduced in Nepal for the first time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Samarpan Academy - Institute of Crisis Management Studies (ICMS) has launched Masters Degree in Crisis Management &nbsp;course &lsquo;Masters in Crisis Management&rsquo; (MCM) in affiliation with &nbsp;Tribhuwan University. The college&rsquo;s management is presided by Dr Ram Thapaliya, a PhD holder in Crisis Management. Balananda Sharma, fLieutenant General (Rtd) of Nepal Army, is the principal of the college. Sharma played key role in the management, rehabilitation and integration of the Maoist combatants as coordinator of the secretariat of the Army Integration Special Committee (AISC). &nbsp;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Other key figures behind the college are Former Inspector General of Police Sanat Basnet, Immediate past President of &nbsp;Federation of Nepalese Chambers of commerce and Industry (FNCCI) &nbsp;Kush Kumar Joshi, Nepali Congress Leader Nabindra Raj Joshi, UCPN-Maoist leader Khimlal Devkota, CPN UML Leader Shanti Adhikari and Dr. Shivaji Yadav..&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Elaborating on the objective of the institution, Principal Sharma said that the sole motive behind introducing the course is to minimize consequences of crisis by managing it &nbsp;rather than to make profit. &ldquo;This is an experience sharing institute,&rdquo; he says. &ldquo;If a crisis can be managed systematically, we can minimize the consequences a lot.&rdquo; Sharma claims that Crisis Management students are salable in international market too.</div>
<div>
	&nbsp;</div>
<div>
	<strong>Course Specs</strong></div>
<div>
	Students who have completed &nbsp;bachelor&rsquo;s level with at least 2nd division are eligible to enroll for this course. The course includes basic knowledge on crisis management, various types of crisis that Nepal has been through and case studies on various international crisis incidents. The college is planning to enroll 20-30 students in its first batch and has long term plans to extend its capacity to enroll 40-50 students in each batch.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>International Students&nbsp;</strong></div>
<div>
	The college is looking forward to teach international students too. &ldquo;Developed countries in west want to study about developing countries as the latter face different types of crisis,&rdquo; Sharma says adding, &ldquo;International teachers too want to come here to teach this course&rdquo;.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Fee Structure</strong></div>
<div>
	Four-semester course fee for a Nepali student is set at Rs 515,500. Similarly, it is Rs 817,600 for students from SAARC region and USD 10,000 for students from other countries. &ldquo;There is a provision for scholarship for genuine and needy,&rdquo; said Sharma.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
			'modified' => '2013-12-02',
			'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' => 'Developing or least developed countries are more prone to different types of crises as they are in the process of development. Nepal is not an exception in occurance of crises, be it natural or human -induced. Lack of systematic provisions to control any sort of crisis in Nepal has been a major hurdle in solving, managing and minimizing impacts of crisis.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '2139',
			'article_category_id' => '134',
			'title' => '“We Are Not Here To Complain.  We Are Here To Achieve”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">Turkish Airlines took to the skies 80 years ago as Turkey&rsquo;s flag carrier. It was started with the goal of becoming one of Europe&rsquo;s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September. According to the airlines, roundtrip flights between Istanbul and Kathmandu are operated 4 times per week on Tuesdays, Thursdays, Fridays and Sundays from Istanbul, and Mondays, Wednesdays, Fridays and Saturdays from Kathmandu. In an interview with <em>The Corporate&rsquo;s <strong>Siromani Dhungana</strong></em>, General Manager of Turkish Airlines <strong><em>Celal Baykal</em></strong> explains the journey of Turkish airlines in Nepal while also highlighting the future plans of this airline. <strong>Excerpt:</strong></span></div>
<div>
	&nbsp;</div>
<div>
	<strong>What attracted Turkish Airlines &nbsp;for launching its services in Nepal?</strong></div>
<div>
	We officially started our airline in Nepal from September, this year. The reason why we are here is that we are trying to operate in as many countries as &nbsp;we can so as &nbsp;to be an airline reaching many destinations all over the world. Similarly, we want to expand our network because we want to be a network generator. We particularly chose Nepal because of its huge potential. Nepal was already in our plan for many years. But, it took some time to arrange everything and now finally we are operating in Nepal.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Can you please describe the background of your decision to come to Nepal?</strong></div>
<div>
	Yes, I remember those days very well. Expanding reach to a new country involves a lot of research and know-how to gather a lot of information about the country and you have to analyze it as soon as possible. The first thing I did was to get in touch with colleagues in the business environment. I developed connections with my sectoral colleagues who have been working in Nepal and also with people who have visited Nepal before. Coming to Asia and in Nepal was itself something new for me. I was in Amsterdam. So, if it is a big change, it is also a challenge in my career providing me with numerous opportunities to learn about markets all over the world.</div>
<div>
	&nbsp;</div>
<div>
	<strong>How has the journey for Turkish airlines in Nepal been so far?</strong></div>
<div>
	We are doing quite well. I cannot put anything negative yet. Our flights are almost fully booked and sometimes we have over-bookings. There is a lot of potential in Nepal and we need to focus on that. There are so many places with natural landscapes and thus viable for natural tourism. Considering these prospects, we are aspiring to do much more in Nepal in the&nbsp;</div>
<div>
	near future.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What do you have to say about market competition in Nepal?</strong></div>
<div>
	Competition is ever-present in any field. If there is no competition, you become weak. So, I consider competition to be beneficial. We have been working in the market regardless of competition. This was the same in Amsterdam too, where I worked before. As an airline, we are used to lot of competition.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are your strategies to expand your market here in Nepal?</strong></div>
<div>
	We want to strongly increase our presence but, we don&rsquo;t know where and what the time will be. In the near future, we will surely increase our frequencies. There are some places where we want to expand and one of these places is Nepal. We have just begun our services here and we definitely intend to do more in the future.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Where do you see yourself in 5 years?</strong></div>
<div>
	In 5 years time, we will be able to understand the market more closely and it is sure to make a difference in my personal career as well. We will learn about the cultures here and incorporate it in our business strategy.</div>
<div>
	&nbsp;</div>
<div>
	<strong>What are the complications of conducting business in Nepal?</strong></div>
<div>
	We do not keep looking at problems but, ways to solve them. If you talk about problems, you can continue talking about them for years. We are here to achieve, not to complain. We are here to make a difference. Looking at Nepal&rsquo;s human resource, I can say there is no much difference in terms of quality of people. Though there are some differences between working in Amsterdam and in Nepal, but I am confident that I can rely on Nepali colleagues to get through it.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>What assurances do you give about the service standards of your airline?&nbsp;</strong></div>
<div>
	We have already won some awards, especially the ones related to hospitality and that is our day to day experience. We also won the best kitchen in business class and even in the economy class. We are still investing in our catering and in some areas, we have also tried changing our catering services for responding to our consumers need. &nbsp;</div>',
			'published' => true,
			'created' => '2013-11-21',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Turkish Airlines took to the skies 80 years ago as Turkey’s flag carrier. It was started with the goal of becoming one of Europe’s top airlines and also to function on a global scale. A member of the Star Alliance, Turkish Airlines now flies to more than 235 destinations worldwide and offers the most convenient routes to Turkey, Europe, Africa, The Middle East, Far East, Asia and the Americas, all via Istanbul. Kathmandu, has joined the network on the first September.',
			'sortorder' => '1986',
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	(int) 13 => array(
		'Article' => array(
			'id' => '2091',
			'article_category_id' => '91',
			'title' => 'Election Boosting National Economy',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sanjeev Sharma</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	Financial experts have claimed that CA election will spur the national economy. Government and non-government officials have claimed that the national economy will benefit from the expenditure made by the government, political and non-political organizations and electoral candidates.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp; &ldquo;The expenditures in election can be taken as investment in the country&rsquo;s economy,&rdquo; says Finance Minister Shanker Prasad Koirala. He said that the upcoming election will boost economic activities of political parties and help to flow their savings in the market.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;&ldquo;The money being used in the election process will ultimately go to the private sector,&rdquo; said Koirala adding, &ldquo;The election process is also likely to increase the recurrent expenditure and that will positively impact Nepal&rsquo;s economy.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However Koirala noted that the election process is unlikely to boost the capital expenditure citing that most of the government funded projects are halted for the time being.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dr Chiranjivi Nepal, Economic Advisor at the Ministry of Finance, also expressed similar views. &ldquo;Injecting extra money into the market, increase in demand and supply of goods and services will lead to increase in domestic production,&rdquo; he said. &nbsp;However, Dr Nepal also cautioned of rise in inflation as more money is being poured into the market.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Election campaign expenditures of election candidates is another contributor in spurring the local economy. Aggressive electoral campaign of CA candidates have shown significant activities in the service sector that includes businesses such as hotels/restaurants, airlines and transport services. The campaigns have also considerably raised the print business in the recent days along with the increase in the supply of paper, utensils and printing materials. The Election Commission (EC) has capped the campaigning expenditure of a candidate in each constituency at Rs 1 million. With 240 constituencies, the total campaigning expenses is estimated to be around Rs 240 million, even if it is assumed that only a single candidate is contending. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Expenditures are high also on the government&rsquo;s end. The government has allocated Rs 16 billion budget for entire CA election process in the current fiscal budget. The first CA election held on April 10, 2008 saw a disbursement of Rs 6 billion from the government fund. According to the Election Commission of Nepal (EC), the expenditure also includes hiring of temporary security personnel to assist in the elections. On October 22, the government recruited 45,000 temporary police personnel for a 45-day time period. This temporary employment will also boost the domestic economy.&nbsp;</div>',
			'published' => true,
			'created' => '2013-11-10',
			'modified' => '2013-11-24',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal is preparing to elect Constituent Assembly (CA) members for the second time. Though political analysts are skeptic about the ability of this CA to deliver new constitution, economists have claimed that this CA election will boost the national economy.',
			'sortorder' => '1985',
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	(int) 14 => array(
		'Article' => array(
			'id' => '2112',
			'article_category_id' => '109',
			'title' => 'Nepse Observes Meager Gain',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	N<span style="font-size: 12px;">epal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	On the first day (Wednesday), 377,000 units of shares of 81 companies were traded through 1,587 transactions worth Rs 800.8 million rupees. Share price of Nepal Bank increased the highest by 9.66 per cent, while the share price of National Hydropower Company decreased the highest by 5.36 per cent. On the same day, the Nepal Bank topped the stock market in terms of highest transaction worth Rs 108 million rupees. &nbsp;The share price of Unilever Nepal decreased Rs 150 on per unit share. Citizen Investment Trust share price increased by Rs 36. The rise in the share price of the Chimmek Bikash Bank, Diprox Bikash Bank and Nilgiri Bikash Bank pushed the index of Development Bank sector up. However, the index of Banking sector witnessed a decline on the day. After the increase in the share price of Nepal Telecom, the Other sector also posted a gain.</div>
<div>
	&nbsp;</div>
<div>
	The closing day (Thursday) observed the rise in the transaction volume as well as the number of scrips traded in compared to the previous day. 447,000 units of shares of 91 companies were traded this week through 2,147 transactions worth Rs 137.3 million rupees. The share price of Commerz and Trust Bank Nepal Ltd and Nilgiri Development Bank went up by 9.50 and 9.40 per cent respectively. Share price of Sewa Development Bank decreased the highest by 7.27 per cent. After the share prices of Solti and Oriental Hotel went up, the &nbsp;Hotel sector index also increased &nbsp;by 1.56 per cent. The rise in the share prices of Nepal Life Insurance, Siddartha, Neco and NLG pushed the Insurance sector up by 1.4 per cent. Likewise, sub-indices of hydropower, finance and Manufacturing and Processing sectors inclined on the closing day, while Commercial Bank and Others observed a loss.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<p>
		<strong style="font-size: 14px;">Nepse on Sunday</strong></p>
</div>
<div>
	Nepse index inclined 1 point on the first day of this week closing at 580. &nbsp;A total of 1,139,663 units of shares worth Rs 230 million were traded through 2355 transactions in the secondary market.</div>
<div>
	&nbsp;</div>
<div>
	Insurance sector was the highest gainer of the day, while the index of Hydropower group plunged the highest. The sub-index of the Insurance rose 22.58 points settling at 1434.9. The sub-index of Hydropower declined 3.57 points closing at 1343.47. &nbsp;Other sectors whose sub-indices increased are Banking (0.8), Hotels (1.63) and Finance (0.52) closing at 555.06, 900.06 and 281.7 points respectively. Development Bank sector index moved into the red territory of the Nepse losing 0.9 points with closing at 307.56.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Nepse Index" src="/userfiles/images/indes.jpg" style="width: 550px; height: 164px; margin-left: 10px; margin-right: 10px;" /></div>',
			'published' => true,
			'created' => '2013-11-11',
			'modified' => '2013-11-21',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Nepal Stock Exchange (Nepse) index that declined 0.17 points closing at 579.24 on the first day of the week after the Tihar Holiday surged 0.21 points on the last day closing at 579.45. Nepse had closed at 579.41 last week.',
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