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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2078', 'article_category_id' => '34', 'title' => 'Hydropower News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Korean Company to Bring Light in Rasuwa</strong></span></div> <div> The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and drilling and drifting works, company registration, financial arrangement of equity capital have been made, says the company.</div> <div> </div> <div> Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share, which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. </div> <div> </div> <div> The International Finance Corporation (IFC) has joined as a co- developer for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. </div> <div> </div> <div> We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. </div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019.', 'sortorder' => '1923', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2077', 'article_category_id' => '34', 'title' => 'Tourism News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Soaltee Crowne Plaza wins Today's Traveller Award</strong></span></div> <div> <img alt="Today's Traveller Award" src="/userfiles/images/bn4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 265px;" />Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. </div> <div> </div> <div> Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. </div> <div> </div> <div> Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.</div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Nepal Wins Best Print Promotion in TTF2013</strong></span></div> <div> Nepal Tourism Board (NTB) has bagged the ‘Best Print Promotion’ award in Travel and Tourism Fair (TTF) 2013 at Ahmedabad, India. According to a press statement from NTB, the award was attributed to the excellent combination of content and substance of the Nepali stall in the Fair. NTB participated in the fair in Ahmedabad, Gujurat from 16-18 August 2013 with the aim of increasing awareness and educating Indian travellers on Nepal's tourism products and offerings targeting upcoming season of Dashara and Puja Holidays in Gujurat.</div> <div> </div> <div> The three day fair attracted more than 20000 visitors. 100 stalls featuring a dozen Indian states along with destination countries Nepal, Thailand and Malaysia were present the fair. Commemorating this year as Mount Everest Diamond Jubilee Celebrations, Nepal was marketed as an ultimate adventure destination. According to the statement, Indian adventure enthusiasts are seen exploring various adventure travel options in recent days. NTB and the participating company from Nepal like Yeti Airlines Domestic, Monterosa Treks and Expedition, Nepal Holiday Maker Tours and Travel and Fishtail Tours and Travels among others engaged in both B2B and B2C promotion during the fair.Pilgrimage, Leisure, Soft Adventure Activities and Muktinath pilgrimage tour drew special attractions.</div> <div> </div> <div> India is the most significant market for the Nepalese tourism industry with approximately 1/3rd total market share. In 2012, Nepal received 165,815 tourists from India by air which is 20.6 per cent increase as compared to 2011. In the period of Jan- July 2013 itself, Nepal received 89,500 tourists from India.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>August Sees Increase in International Tourist Arrivals</strong></span></div> <div> <img alt="Tourist in Nepal" src="/userfiles/images/bn5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 225px;" />The figures released by Immigration Office, Tribhuvan International Airport (TIA) revealed that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34 per cent to 47,397. </div> <div> </div> <div> In aggregate, the South Asian segment has registered positive growth of 10 per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64 per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and 73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. </div> <div> </div> <div> An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent respectively compared to the same month last year. </div> <div> </div> <div> Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.</div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel', 'sortorder' => '1922', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2076', 'article_category_id' => '34', 'title' => 'Money News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 16px;">157.8 Million Shares Listed in NEPSE</strong></div> <div> Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.</div> <div> </div> <div> Securities Board of Nepal (SEBON) grants share issuance permits for a total of Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO of Rs 3.51 billion to 23 companies, right shares of Rs 3.94 billion to 5 companies, bonus shares of Rs 4.60 billion to 52 companies and bond issuance of Rs 3.15 billion to 7 companies. </div> <div> </div> <div> <strong>Market Size Increased by 40pc</strong></div> <div> Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-13. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011- 2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-13. </div> <div> </div> <div> According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies as well as rise in the number of shares listed and number of investors within this year. He also said the operation of essential infrastructures like CDS & Clearing and mutual funds also helped to increase the market size. Poudyal added, “The number of investors is also increasing lately.</div> <div> </div> <div> <strong>Transaction Amount Doubled</strong></div> <div> The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-12. The share transaction was of Rs 10.27 billion in FY 2011-12 which reached Rs 22.4 billion in FY 2012-13.</div> <div> </div> <div> <strong>Listed Companies 230</strong></div> <div> The number of listed companiesby the end of fiscal year 2012-13 has reached 230. Among the listed companies, 198 are banks and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 trading organisations, 4 hydropower companies and 2 others. There were 216 listed companies in FY 2011-12.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.', 'sortorder' => '1921', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2075', 'article_category_id' => '34', 'title' => 'Corporate News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>TeliaSonera to Sell Hello Mobile Shares</strong></span></div> <div> <img alt="Hello Nepal" src="/userfiles/images/bn2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 104px;" />TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. In a press statement issued on September 11, TeliaSonera informed that they are going to sell the shares to an American company Zhodar Investment, which is based in British Virgin Islands. The selling process of the shares will be completed within a month, reads the press release. </div> <div> </div> <div> “Over the past year, uncertainty regarding regulatory and legal environment for consolidation and granting of licenses in Nepal has increased. Pursuing an acquisition of Nepal Satellite is therefore not possible for regulatory reasons,” the statement read. </div> <div> </div> <div> TeliaSonera, had incurred a loss of nearly 400 million Swedish Kronor, which is approximately Rs 6.19 billion.</div> <div> </div> <div> The company has said that the agreement will enable it to concentrate on Ncell, which reduces the business risk and complexity of its total involvement in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Food Drinks and Hospitality Expo Concludes</strong></span></div> <div> <img alt="Food Expo" src="/userfiles/images/bn3%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 138px;" />The Seagram’s Royal Stag Food Drinks & Hospitality Exhibition 2013 concluded on September 22. The Exhibition 2013 hosted 122 exhibitors, 3 thematic pavilions, 5 special events and showcased various products and services of the food, beverage and hospitality industry.</div> <div> </div> <div> According to the organisers, the exhibition was visited by a total of 45840 visitors of which 9840 were business visitors and 36000 consumers. </div> <div> </div> <div> The American Franchise Pavilion, Hospitality Education Mart, Morde Master Baker Challenge, Monin Best Bartender Contest, Master Chef Challenge were some of the attractions of the expo.</div> <div> </div> <div> The exhibition was organized by House of Rajkarnicar Exhibitions & Events in recognition of the tremendous growth in the sector. </div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. I', 'sortorder' => '1920', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2074', 'article_category_id' => '34', 'title' => 'Banking News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>NRB Urges to Keep Currency Notes Clean </strong></span></div> <div> <img alt="Nepali Note" src="/userfiles/images/bn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 120px;" />Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives. </div> <div> </div> <div> Speaking at an interaction programme organised at the office of New Business Age Pvt Ltd on September 15, NRB spokesperson Bhaskar Mani Gyawali made such a request. “We are distributing new banknotes this year too, so I would like to request one and all to help us in keeping the notes clean,” he said, adding that the citizens are also responsible to keep the notes that are national property, clean. </div> <div> </div> <div> The NRB has started distributing new and crisp notes worth Rs 30 billion aiming to meet high demand during the festivals. The designs of banknotes of Rs 100, 50 and 20 have been changed in the new lot to make it visually-impaired friendly.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>NRB Refutes Deadline Extension Reports </strong></span></div> <div> <img alt="Nepal Rastra Bank" src="/userfiles/images/bn1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 185px;" />Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). Reacting a news report claiming that it had extended the deadline, NRB spokesperson Bhaskarmani Gyawali said . “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013- 14 if approved by the NRB could be counted on the paid-up capital.” Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives.', 'sortorder' => '1919', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2049', 'article_category_id' => '198', 'title' => 'The Legendary Bakers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Bhawani Timilsina</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Bijay Paudel, Sales Manager, Krishna Pauroti Pvt Ltd" src="/userfiles/images/bp%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 207px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Bijay Paudel</strong></div> <div> <em>Sales Manager</em></div> <div> <em>Krishna Pauroti Pvt Ltd</em></div> </div> </td> </tr> </tbody> </table> <div> Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality. Krishna Pauroti since its establishment six decades earlier has now become synonymous to the industry itself, Bijay Paudel sales manager at the Krishna Pauroti Pvt Ltd said. Krishna Bahadur Rajkarnikar, the pioneer of bakery in Nepal, established the bakery in 1948 following his arrival from India, Paudel said adding the baker had “introduced loaf and cakes for the first time in Nepal.” During a visit to India, Krishna Bahadur Rajkarnikar was influenced by a famous English bakery named Firpo. Upon his return to Nepal he started bakery business. </div> <div> </div> <div> Krishna Loaf is renowned in the bakery industry for its quality and has been a benchmark for quality for many bakers. It is one of the first loaf of bread that Nepalis came across, before that roti was the only household thing to eat. </div> <div> Down the years, the bakery has latest bakery equipments but it was not so in the beginning. “It was handmade affair in the beginning. Tough various international technologies had been entered in the recent time,” Bijay said adding, “Consumer’s taste keeps on changing. It is necessary to put out a bigger selection for the consumers.” </div> <div> </div> <div> The legendary bakery firm has set itself apart from other bakers in terms of packaging, product quality and ingredients. Though the bakery has not launched any ad campaigns, the company is preparing to develop and advertise its products in media in the days ahead. “We are planning to make strategy in this regard in the near future,” he said while conceding that “Bakeries rarely invest in advertisement “.</div> <div> </div> <div> “Being a legendary bakery we have been striving to manufacture bakery products that have superior quality.” “Consumers now are becoming very conscious about brand and quality. It encourages us even further to maintain quality, “he says. “The bakery has been constantly planning to improve and upgrade quality. We have been trying to embrace the latest technology.”</div> <div> </div> <div> Bakery product consumers are growing. And this growth has brought in customers with varied taste. Paudel elaborated that considering the popularity of the brand, it is imperative for them to offer wide ranges of bakery products that confirm to the quality standards, taste and expenditures of our customers. “Growing preferences of consumers has played a great role for the increasing popularity of the bakery items, “he adds. </div> <div> </div> <div> Not only customers, he claims that the brand has inspired many others to join the industry and contribute in expanding it. Bakery items like bread, patties, black forest, fresh snacks, rolls, cakes, pies and other pastry products are becoming popular among different groups of people. “The number of bakery products consumer is growing by the day” Paudel added informing that presently the bakery produces more than hundred bakery products that are equally popular among its customers. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-12', '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' => 'Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality.', 'sortorder' => '1917', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2068', 'article_category_id' => '38', 'title' => 'Best Ways To Retain Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year. </div> <div> </div> <div> Employees leave organizations for different reasons. Some find a different job, continue higher studies, and some move away due to family problems. Others retire, quit on impulse due to dissatisfaction about something, or never intended to work after earning a certain amount of money. People also get fired or laid off and decide they no longer need a job. Some may also want to start a new venture.</div> <div> </div> <div> An individual will stay with an organization as long as the incentive it offers (such as satisfactory pay, good working conditions, and developmental opportunities) are equal to or greater than their time and effort. Although some individuals may quit a job on impulse, most people who leave spend time evaluating their current job against possible alternatives, developing intentions about what to do, and engage in job hunts. All of these examples represent a turnover and they don’t all have the same organizational implications. Thus, turnover can be voluntary, involuntary, functional, dysfunctional, avoidable and unavoidable.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Employees Stay </strong></span></div> <div> As employees participate in their professional and community life, they develop a web of connections and relationships on and off the job. Leaving a job would require severing or rearranging these connections. Employees who have many connections are more embedded, and thus have numerous reasons to stay in an organization.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Factors of retention</strong></span></div> <div> Challenging and meaningful work, opportunities to learn and grow, the sense of being part of a group or team, and having a good boss are four primary ways to retain employees, though the first three ways are basically influenced by the boss.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Challenging, Meaningful and Transparent Work</strong></span></div> <div> Exciting, challenging and meaningful work that makes a difference is the most important factor in job satisfaction. If one is going to spend a great deal of one’s life doing something, it at least should have some interest and some meaning or purpose. Also, an organization should prepare a platform where employees feels rewarded and attracted to go to office daily. The management also has to maintain transparency in terms of vision, mission, goals, objectives, implementation strategies, and policies in order to make a job meaningful and challenging.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Opportunities to Learn and Grow</strong></span></div> <div> Clear career growth, learning, and development are three of the top reasons that people stay in their current jobs.</div> <div> A good boss provides opportunities for learning, challenges, and growth on the job that match the employee’s abilities and aspirations. He or she encourages employees to improve the work as well as their skills and to keep up with the latest developments in their field as well as facilities for providing formal and informal learning opportunities. Employees should also be encouraged to network, to join trade and professional associations and to read publications related to their line of work.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sense of Being Part of a Group or Team</strong></span></div> <div> Working with great people, being a part of a team, and having fun on the job are some important factors in job satisfaction. Even a department, section, or division can feel like a team if the manager and employees treat each other with courtesy and respect, listen to one another’s ideas, recognize and celebrate each other’s accomplishments, and work toward common goals. Of course, every team or work group can benefit from training in areas such as communication, group development, decision making and conflict resolution. It is the manager’s responsibility to provide the work group members or team members with the tools and resources to work well together. It is the group’s responsibility to utilize them well. This contributes in building a feeling of organization citizenship.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Good Boss as a mentor, facilitator & visionary leader</strong></span></div> <div> Rudeness, impatience, arrogance, intimidation, yelling, being condescending, embarrassing people, swearing, telling lies, sexual harassment, using inappropriate humour and demonstrating sexism or racism will not earn the loyalty or respect of employees. Besides, behaviour such as failing to solicit and listen to employee input, failing to recognize employees’ accomplishments, withholding praise, giving only negative feedback, taking credit for others’ accomplishments or ideas, blaming others for one’s own mistakes, betraying, micromanaging, withholding critical information, showing distrust, showing favouritism, setting unrealistic goals or deadlines, and failing to help good performers grow in their career in the hope of holding onto them are equally harmful to good boss- employee relations which encourages employees to leave. Satisfied employees report that their managers are good role models and demonstrate inspiring leadership. They communicate well and often, they are trustworthy and supportive. They help to create a sense of purpose in the work, and they encourage employee growth and career development. Also, a boss should be up to date with the latest ideas in order to cope and balance new entrants who bring new vibrations in the organization. In short, for managing a talent, a boss should be a talented person first. The word ‘boss’ itself needs to be transformed to ‘mentor’, ‘facilitator’ and a ‘visionary leader’.</div> <div> </div> <div> Besides these primary factors, there are a number of others that influence employee retention, such as competitive benefit packages that fit employees’ and industries’ needs, stay and exit interviews and application of their outcomes at the strategic level, open communication between employees and management, and communicating clear expectations to employees.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year.', 'sortorder' => '1916', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2020', 'article_category_id' => '122', 'title' => 'MS Group: From Manufacturing To Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Shashi Kant Agarwal, Managing Director, MS Group" src="/userfiles/images/ssk.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Shashi Kant Agarwal</strong></div> <div> <em>Managing Director, MS Group</em></div> </div> </td> </tr> </tbody> </table> <div> Travel and tourism does not lure someone merely by its entertaining and fun experiences. Entrepreneurs are lured to this industry because of its lucrative business prospects that are believed to be growing in Nepal. MS (Maliram Shivkumar) Group is one of the latest national manufacturing houses to join this niche. It has decided to venture into the tourism industry by establishing luxury hotels in a tie-up with Marriot International- an US based international hotel chain.</div> <div> </div> <div> Nepal Hospitality Group Pvt. Ltd, a subsidiary of the MS conglomerate reached an agreement with Marriott International to open the Fairfield by Marriott hotel in Thamel, Kathmandu. This business hotel, according to Shashi Kant Agarwal, Managing Director of the group, has an investment of Rs 600 million and informed that its construction has already kicked off.</div> <div> </div> <div> Similarly, a second hotel in Naxal, also under the joint venture partnership with Marriot International is scheduled to start construction immediately after Tihar festivals. Agarwal says that this will be a luxury hotel with 250 rooms. Both of these hotels will be at par with four star hotel standards.</div> <div> </div> <div> These new ventures of the group are the first initiatives towards the tourism industry and are part of the larger plan the group has. Agarwal says, “We have plans to establish hotels across the country. This is the beginning and we have decided to come up with two new hotels at the time as the political situation has shown signs of improvement.” Agarwal, who is also a traveller, says there are numerous tourism potentials in sub-sectors like eco-tourism, adventure tourism and religious tourism. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Transition</strong></span></div> <div> The journey of the MS Group started as a trading house some six decades ago by Shashi Kant Agarwal’s grandfather, Maliram Agarwal. During that time, he had a shop at Indra Chowk in Kathmandu that sold clothes in the palace of Ranas. When the market gradually expanded, Maliram Agarwal started a whole-sale garments store at Jhochhe. Garments were imported from India and supplied to local retailers in the valley districts along with Dhulikhel, Katari, Tandi among others. The founder Agarwal used to walk for weeks to reach these places and sell goods even in credits to local merchants.</div> <div> </div> <div> The local garment business slowly expanded into international trading with the beginning of third country export in Nepal. Agarwals involved in it by exporting jute and textiles. Gradually they started importing motor parts and bearings. Some were consumed in Nepal while majority of them were exported to India.</div> <div> </div> <div> The group had already seen success in the trading business before moving onto the manufacturing sector. An incident during the trading days encouraged Agarwals to venture into a more stable business than trading – into the manufacturing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Initiating Manufacturing </strong></span></div> <div> Agarwal recalls that a ship transporting garments belonging to MS Group along with other traders of Nepal was hijacked near Hong Kong and goods never reached Nepal making a huge loss to the companies. </div> <div> </div> <div> This unfortunate incident made them settle down to a business with marginal risks. Agarwal says, “That incident was a blessing in disguise. In our corporate life-cycle, it inspired us to move towards the manufacturing business.” As a consequence, a hosiery factory was established, although of a small scale. He recollected that the hosiery factory came at a time when the group was counted as one of the leading garment trading concerns in Nepal in terms of turnover and said that the family had decided to establish a cottage industry despite it. </div> <div> </div> <div> The hosiery factory at Battisputali, Kathmandu grew well and was followed by the setting-up of Pashupati Textile factory in Patan. This manufacturing unit produced both cotton and polyester textiles and also dyed them. As the group’s turnover kept growing, it moved into steel manufacturing with Bhagwati Steel Industries in Birgunj. There were no pauses in the expansion drive. The group further established the largest sugar mill Everest Sugar Mill in Mahottari, in partnership with Everest Group. Similarly, Reliance Spinning Mill , that is now a factory that has created highest number of employment- 3400 people including 1500 women, was also established.</div> <div> </div> <div> Since the group moved into the manufacturing sector, it never had to look back. As of now, the group has a total of 10 companies operating in manufacturing, housing and trading business including a couple of them in partnership with other business houses of Nepal. And, these companies register an annual turnover of Rs 12 billion. </div> <div> </div> <div> As a recent expansion to its manufacturing unit, the group is setting up a new large scale sugar mill in Siraha. According to Agarwal, the construction works have commenced and necessary machineries have been imported. He says that the mill will begin crushing in a year’s time. </div> <div> </div> <div> Along with these, the group is promoter in some banks and financial institutions but Agarwal says that the group is not directly involved in them.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Positioning Markets </strong></span></div> <div> As the group is involved in production of diverse products, they cater to a wide range of market and target customers. Most of its steel products are targeted at local market and is purchased for constructing electricity poles, bridges, telephone towers by telecom and electricity companies. Similarly, the group also produces galvanised sheets and pipes for the local market. </div> <div> </div> <div> Likewise, sugar is sold to both bulk buyers and general public. According to Agarwal, Salt Trading, bottlers of Coca-Cola Pepsi, and Frooty, Rio and other beverage manufacturers are regular buyers. Meanwhile, 75 per cent of production of Reliance Spinning Mill is exported and the remaining is consumed within Nepal which accounts to around 50 to 60 per cent market share, claims Agarwal. The foreign markets for its products are mainly India and Turkey.</div> <div> </div> <div> Agarwal says that the housing project of the group did relatively well as it was launched relatively earlier before the market was over flooded. However the bubble burst of the housing and real estate business hit its Subsidiary Sunrise Apartments. He says that the housing still has strong brand strength in the market. </div> <div> </div> <div> Elaborating on the branding needs, he argues that other products such as sugar do not need any branding and aggressive publicity. As the market is mostly the bulk buyers, offering quality would help gain the market share. And added that sugar produced by Everest Sugar and Chemical Industry Ltd has a good recognition in domestic and international market.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <div> <span style="font-size:16px;"><strong>Some Companies under MS Group</strong></span></div> <div> •Reliance Spinning Mills Ltd</div> <div> •Everest Sugar & Chemical Industries Ltd</div> <div> •Sunrise Apartments Pvt Ltd</div> <div> •Bhagwati Soap Industries Pvt Ltd</div> <div> •Bhagwati Carbide Industries Pvt Ltd</div> <div> •Bhagwati Rolling Mills Pvt Ltd</div> <div> •Nepal Hospitality Group Pvt Ltd</div> <div> •Bhagwati Steel Industries Pvt Ltd</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Some Products of MS Group</strong></span></div> <div> •Polyester, Acrylic and Cotton Yarns</div> <div> •Steel</div> <div> •Sugar</div> <div> •Housing and Apartments</div> <div> •Soaps</div> <div> •Partially Oriented Yarn,Polyester Texturised Yarn and Knitted Fabrics</div> <div> •MS torque steel </div> <div> •Dry cell batteries</div> <div> •Galvanised sheets, poles, door/window profiles</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Employment and Management</strong></span></div> <div> According to Shashi Kant Agarwal, the group has provided direct employment to 6000 people including its subsidiaries under the joint venture with other business houses. However, Reliance Spinning Mill alone employs 3500 people. The decentralised management system of each of the companies looks after each and every management responsibilities and daily affairs. He shares that the policy level and financial affairs are only taken care by the central management. The management team is well groomed to take care of everyday activities, marketing, sales and procurements, he added. </div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Activities</strong></span></div> <div> Although the group does not aggressively pitch Corporate Social Responsibilities (CSR) it has subtly carried out such activities, in various forms, in localities where the groups’ factories established. The group has built hospitals, dispensaries, schools, rooms for schools, donated ambulances among others on a regular basis. Agarwal says that his father is a spiritual person and makes constant donations and supports to religious causes. Well known among the Marwari community, his father had donated land worth Rs 20 million to Gaushala recently.</div> </div> </div> </td> </tr> </tbody> </table>', 'published' => true, 'created' => '2013-10-27', 'modified' => '2013-11-12', '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' => 'MS Group started its business journey almost six decades ago as a trading house. During these years the house has not only established itself as a leading manufacturing house, but more recently has also ventured into the tourism industry with major hospitality projects on the cards.', 'sortorder' => '1915', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2061', 'article_category_id' => '150', 'title' => 'Business Briefs (28 October - 3 November)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Micromax Launches Two New Models</strong></span></div> <div> Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor. It has 1 GB of RAM, and has an 8 MP primary camera and 2 MP secondary camera. Canvas Fun comes with Android 4.2.2 Jelly Bean and has a 4.5 inch screen. It is powered by a 1.3 GHz dual core processor and has 512 MB of RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Experience Hyundai’ Organized</strong></span></div> <div> Laxmi InterContinental Pvt Ltd organized an event named ‘Experience Hyundai’ from 24-26 October at its Thapathali showroom. According to the company, the event was organized to provide a platform to experience the entire Hyundai family along with some entertainment. The event featured free car wash, free gift on every test drive, any brand exchange, on spot finance and insurance and a free check up facility for Hyundai vehicles. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Karbonn A5 and A26 Launched</strong></span></div> <div> Allied Trade link International P Ltd, the authorized distributor of Karbonn Mobile launched two new handsets A5 and A26 in the market. A5 has features like Android Gingerbread, dual SIM, 1 GHz processor, 256 MB RAM, 3.2 MP camera and front digital camera among others. A26 comes with features like Android v 4.1, 1.3 GHz dual core processor, 5 inch Screen, Wi-Fi, 2000 mAh battery, 5 MP camera with LED flash, Front Digital camera and 512 MB RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yamaha Scooter Exchange Concludes</strong></span></div> <div> MAW Enterprises organized ‘Yamaha Scooter Exchange Mahamela’ from October 24 to 26 at Bhrikuti Mandap. According to the company, this was the first and biggest event of its kind in Nepal. The event offered exchange of old motorcycles and scooters with Yamaha Ray. There was participation of more than 10 dealers and over 40 re-condition houses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ford Focus Best Selling Vehicle Globally</strong></span></div> <div> Ford Focus has maintained its leadership as the best-selling vehicle nameplate globally, based on Ford analysis of the latest Polk global vehicle registration data for the first half of 2013. Globally, Focus is up 20 per cent in the first half of 2013 as compared with the same period last year. Also, Ford Fiesta ranks as the fourth best-selling vehicle overall, and is the world’s best-selling subcompact vehicle through June 2013. Ford is the only brand with two nameplates among the global top five best-sellers.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor.', 'sortorder' => '1914', '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' => '2065', 'article_category_id' => '37', 'title' => 'Nepali Federalism From Economic Perspective In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Dr Chandra Mani Adhikari</strong></div> <div> </div> <div> There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance.</div> <div> </div> <div> A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.</div> <div> </div> <div> The date of election has been set and the Election Commission is working within a given framework. But issue and essence require more debate while it is also urgent to have constitution.</div> <div> </div> <div> In this regard, some observations on the basis of the international experience and national reality are pertinent. The state’s structure can be divided into three systems. One is related to formation of the government. The second is defined power of the government whereas the third is the mechanism to serve the grassroots. The federal system has been developed since 17th century.</div> <div> </div> <div> The unitary form of governance was implemented after the First World War which didn’t work properly in practice. Regarding the forms, the main question regarding the federal or unitary system is motive of separation of rights for balancing different levels of the government.</div> <div> </div> <div> In some federal countries, the center seems more powerful in others the states are more powerful. In principle, federalism is the system of self-governance by the state based on rule-of-law. Thus, federal system would not be meaningful in undemocratic environment.</div> <div> </div> <div> Nepal is already a federal republic, if we go only by the Interim Constitution of Nepal. But in practice, it is still to be federal. Many questions such as those related to the structure of the state, basis of restructuring, methodology of building the federal nation, the form of government, election system and judicial system are still unanswered. Moreover, there is still no consensus on the issues of culture, geography, economic resources, population, infrastructure, level of social understanding and nature resources that a state needs to have to qualify to be a federal state.</div> <div> </div> <div> Other hot topics for discussion are the number of federal states, their geographical border and authorities of the legislative and executive bodies of the federal states.</div> <div> </div> <div> <img alt="" src="/userfiles/images/epn1%20(Copy).jpg" style="width: 550px; height: 252px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Two best examples of successful federalism are Switzerland and USA where many smaller nations tied up into the confederation. However, in USA the confederation was not working properly in the beginning. So, in 1781, USA declared the Federal Constitution with relatively more power to the center.</div> <div> </div> <div> After 50 years of experience with its own style of federalism, Switzerland too issued American model constitution in 1848 that aimed to enhance cooperation among the states. Germany introduced cooperative base federal constitution in 1871 and Belgium, France, Spain and South Africa followed it. Some countries like Bosnia and Herzegovina, Ethiopia, Congo and Iraq entered into federal system with background of conflict and other historical accords.</div> <div> </div> <div> On some instances, economic disparity, religious differences and geographical differences too have led to federalism. Canada is one such example.</div> <div> </div> <div> Nepal declared itself a federal state after people’s movement. And there are various reasons and logic behind the Nepali federalism. These include safety to the local community from encroachment of outsiders, institutionalization of democracy and making the state more inclusive. But what is happening (and has happened) in Nepal is different than the global experience.</div> <div> </div> <div> Nepal’s need is to end all sort of social and economic disparities by ensuring a conducing economic and political infrastructure through a political and constitutional consensus, using federalism as an instrument. In this context, it’s irrelevant to ask whether the state should be restructured on ethnic lines. Lengthy debate on the question whether the states should be based on single ethnicity or multi-ethnicity identification has proved futile.</div> <div> </div> <div> To make federalism successful in its objectives, we should scrutinize the real challenges and potentials, which are directly related to state restructuring. These include Nepali ethnicity management (with a goal of transforming current Nepali society into socially-economically and politically prosperous future) geographical balance and finding an optimum in terms of types, name, levels, numbers and size of federal and state governments. Also challenging is the question of whether optimization can be achieved with identification of appropriate determinants like population, geography and some other context.</div> <div> </div> <div> Among such contexts, the distribution of resources plays a prominent role. This is related with the need divide and assign the economic and revenue rights — PROPERLY — between the governments where resources can be mobilised in right proportion through (double, united or moderate) mechanism. This may require establishing a new set of institutions to run the system. The total size of the national budget will grow as each state will have its own government-legislature, chief minister and ministers and so on. We need consensus to determine a manageable size for all these. </div> <div> </div> <div> While determining the size and number of the provinces, presently available physical and economic resources, density of population, geographical area, level of technology, means of transportation etc should be considered. Another prominent reality to be accepted is the beauty of diversity. The Mountains, hills and the plains — these three geographical regions are interdependent; however all aspects of such dependencies are not measurable economically.</div> <div> </div> <div> The strength of the Hills is water as well as some other natural resources and high possibility of tourism industry. Whereas the strength of the Terai lie in the vast fertile land, urbanization, dense population and more economic activities.</div> <div> </div> <div> However, these factors may change in the future for example; migration may change the demographic structure. In this context, all the political parties and the policy makers need to be careful while allocating the economic resources and political rights between the states and the centre.</div> <div> </div> <div> In conclusion, striking a balance between the economy, politics and social aspirations of people is needed to design an optimum form of federalism. It is really the responsibility of present leadership to work for the next generation for a better and prosperous Nepal.</div> <div> </div> <div> <em>(Writer is an economist and also chairman of National Council for Economic and Development Research (NAREC Nepal)</em></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance. A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.', 'sortorder' => '1913', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2064', 'article_category_id' => '47', 'title' => 'An Unintentional Journey', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come. </div> <div> </div> <div> With the passage of time, he tried to fit himself in different roles, either merely to make his living, an ambition to earn huge amount money or sheer interest to serve the nation. Whatever he met on the way, he accepted it as a career with making sincere and hard efforts to make it happen.</div> <div> </div> <div> The ambition to earn money has its roots in his early childhood. The deprivation he experienced during his childhood left an indelible imprint in his mind, always compelling him to think about accumulating wealth. However, he says, he never compromised with his ethics and integrity to make money. Born to Late Jibnath Lamichhane and Late Dewaki Lamichhane in a middle-class family in Makwanpur, he had to endure the grief of his father’s demise barely at the age of two. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Multiple identities</strong></span></div> <div> Recently, he has been recommended as a Nepali Congress (NC) candidate for the upcoming Constituent Assembly polls from Makwanpur Constituency-2. He joined the party last month amid a function in Kathmandu, where the party president Sushil Koirala welcomed him by issuing the general membership of the NC. </div> <div> </div> <div> “I joined this democratic party as I want to serve the nation now through politics,” shares Lamichhane. He is in the contract business for more than 25 years. During this period, his company has not only constructed hundreds of bridges, roads and buildings, but also worked as a sub-contractor for the construction projects as far as in India, Japan, Cambodia and Qatar. </div> <div> </div> <div> He is now leading more than 17,000 contractors of the country as a President of FCAN. Apart from that, he is also a Board Member of Nepal Purwardhar Bikash Company Limited (NPBCL), Nepal’s first public limited company building a national toll highway of Asian Highway Standards. The company is in the process of building the Kathmandu-Kulekhani-Hetauda Tunnel Highway (KKHT), a dream project with the 4P initiative (people, public and private partnership). </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Teaching in transition</strong></span></div> <div> After completing his School Leaving Certificate degree from a local school in the Chitlang, Makwanpur, he decided to teach in a school at Kulekhani to make a living instead of going to college. It was while teaching in the school he decided to appear privately in Intermediate degree exams. He was happy for getting a teaching job as he did not need to worry about bread and butter. Yet, he was looking further for ways to make more money. “It was very difficult for me to manage everything with mere Rs 275 per month. So, I was looking for other alternatives,” he shares.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Turning Point</strong></span></div> <div> Once, Lamichhane was returning home from Martung, Kulekhani for his holiday. Incidentally, he met one of his relatives Ram Prasad Lamichhane on the way, who happened to work for Mittal Construction Pvt Ltd in a Devighaat Hydropower project. Lamichhane inquired about job possibility in the company. The relative informed him that the company was looking for someone who could look after the project accounts, and had to be stationed in Dhunche in Rasuwa. </div> <div> </div> <div> Agreeing to work, he went to Kathmandu the next day for the job in the Company. The company offered him Rs 1000 per month for the job. Later, he went to the project site to take up the job of maintaining financial account of the project. However, he did not limit himself to book keeping. “Eventually, I learned other aspects like engineering, survey works as well as other aspects of road construction,” he recalls. After the completion of that project, he was provided with the overall responsibility of another hydropower project as an in-charge. Impressed with his works, the company later provided him the responsibilities in numerous other projects. </div> <div> </div> <div> “While working for these projects, I had gained a lot of experience and also had an insight of the construction business.” he shares. Life was about to open a new door for him, and he was struck with an idea to open his own construction company. “When I shared my interest to come up with my own company with the Managing Director Manohari Lal Mittal, he was very affirmative about the idea and encouraged me to pursue what I dreamt of,” he says and adds, “he did not only encourage with his words but also provided me with a seed fund of Rs 50,000.”</div> <div> </div> <div> With this capital, he registered his own company Swochhanda Constuction Pvt Ltd in 1989. It did not take him much to speed up the business after establishing his own venture. After the launch of his own company, he never looked back. The first project his company undertook was an irrigation project in Parsa worth Rs 300,000. Till date, he has completed many projects worth billions of rupees, most of them as a sub-contractor for international companies like Japan’s Obayashi Corporation and Chinese CWE Company. He says he has been able to win hearts of these international companies, thereby earning accreditation for his company as one of the ‘best’ in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Personal Nature</strong></span></div> <div> Youngest among five sisters and brothers, Lamichhane did not get a privilege to go to college owing to the poor economic condition. However, he did not let his interest of studying die. Though he had dropped school while he was in grade 8, he rejoined it later realizing that he should continue his study at any cost. </div> <div> </div> <div> An introvert during his childhood, his family friends and relatives mistakenly thought him to be arrogant. Today, Lamichhane has much changed and is quite an outspoken person. “I was determined to achieve whatever I strived for, and that included my personal aspects as well,” he says. Since he did not grow up in a well-off family, he rarely had time to hang out with his friends. “I realised from my early childhood that I had to manage the finances myself, and I always felt that I had to stand on my own feet. Owing to my financial problems, I never get a chance and time to truly enjoy my childhood,” says Lamichhane.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>“Nobody to guide”</strong></span></div> <div> Behind every successful person, there is somebody whose support becomes instrumental for him. Family, teacher or a mentor, among others, are usually there to push a person forward towards his life goals. However, it was not the case for Lamichhane. “I was not lucky enough to have such an opportunity. Whatever I met with in my directionless journey, I had to utilize and adopt it on my own as a career,” says Lamichhane. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sustaining Formula</strong></span></div> <div> Lamichhane says that wherever he stands today, it is because of his honesty that he maintained throughout all the situations. “Once I even refused a huge project offered by the Obayashi Corporation because I knew I could not deliver the work on their stipulated deadline,” he shares, and adds, “after I was reluctant to undertake the project, they insisted me to work with them, encouraging me to take the project anyway. They assured me that they will support me in everything to get the project done on time.”</div> <div> </div> <div> He says that he did not shy away from revealing own weaknesses. “The businessmen in Nepal tend to conceal their pitfalls, but I have always tried to be honest,” says Lamichhane. He respects the value of labour very much. “Be it in a single grain that I eat or a single cup of tea that I sip, there is a value of labour attached with it,” he notes. </div> <div> </div> <div> He gives the labourers very big credit behind his success in business. “For me, I come only after the labourers, who always put their efforts and hard work for the success of any project,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Bad Bidding</strong></span></div> <div> As a businessman who has spent almost three decades in the construction business, Lamichhane strongly criticizes the tender bidding process of Nepal. The contractors are often accused of employing muscle power and goons for getting the contract in their hands. However, he denies it as a problem. The overall problem emanates from the flawed tender bidding process and the related law, he claims. “The tender bidding process neither bodes well to the contractor nor to the beneficiaries. The contractors have to compromise on the quality of the construction as the lowest bidder is awarded with the project,” he argues. Frustrated with the lengthy, complicated and flawed process of the tender bidding of the government projects, he underlines the need of overhaul in the bidding process. “Else the country and people will have to suffer from the substandard delivery of the projects,” he warns.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Hobbies and Family </strong></span></div> <div> Humming songs alone, watching comedy shows and spending times with family are his hobbies. When overloaded and stressed with work, he meditates, and loves to do so in secluded and tranquil location of Dakshinkali. “To get rid from the hustle bustle of the city, I sneak to Dakshinkali alone for 2/3 hours to meditate, sometimes even at 10 in the night,” he reveals. </div> <div> </div> <div> He has three children who are in school. As he is not able to give much time to his family on weekdays, he manages a day in a week for them. “My children understand me and are happy with their dad’s works,” he shares. Lately, travelling and enjoying the natural beauty has become his pastime. He has been to 56 districts of Nepal and also to more than 25 countries. Out of all the countries he has been to, he loves Japan the best while he never gets tired of going to Kulekhani and Daman in Nepal.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Entrepreneurship Essence </strong></span></div> <div> Years of Unwavering walks have landed Lamichhane in his current position. He didn’t have any concrete plans when he started. He, however, advises the aspiring entrepreneurs to think ahead in future and weigh the profitability of the business they want. “Never compromise in quality in what you do, and always maintain honesty, regardless of the circumstance. Stick to the deadlines, and always delivered the promised quality. You should be accountable for these two aspects,” he cautions. For him, success is seen as what grows after sowing in the barren land. He advises to new generation: “Always sow better seeds so that the coming generation would always remember you while reaping and rejoicing the benefits of it.” </div> </div> <p> </p>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come.', 'sortorder' => '1912', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2063', 'article_category_id' => '42', 'title' => 'Stagnant Market Ahead Of Earning Reports', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.</div> <div> </div> <div> Investors await the report on earnings from different banking and financial institutions which have driven the index for most of the time. The Standard Chartered Bank Nepal has declared 10 per cent bonus share and 40 per cent cash dividend; Nabil Bank has announced a 40 per cent cash and 25 per cent bonus share; Nepal SBI Bank decided to propose 12.5 per cent bonus share and 7.5 per cent cash dividend while other institutions are also in row to declare their earnings’ announcements. </div> <div> </div> <div> Profit booking has also been noticed in a few sessions after the escalation of the market. Investors rush to secure their profit with a steady market growth and also heed dividend giving stocks and settle with those less attractive or with no returns. </div> <div> </div> <div> As investors intensify their expectations, the deceleration of the earning for the fiscal year 2069/70 will guide the market move ahead of Dasain. </div> <div> </div> <div> Performance by Sector</div> <div> Following previous trends, the insurance sector added 125.34 points or 9.31 per cent to rest at 1346.57. The hydropower sector moved higher by 86.45 points or 6.66 per cent to 1298.23 while the hotels sector gained 32.63 points to reach 704.49. The commercial banking sector, however, plunged by 9.69 points or 1.84 per cent to rest at 526.29. The ‘Others’ sector with the heavy scrip of Nepal Telecom descended 4.70 points to 661.46 whereas the development bank sector went down by 2.69 points to 277.46. </div> <div> </div> <div> The sensitive index that measure the performance of 120 blue chips at secondary market plummeted by 4.24 points or 3.21 per cent to 132.18. However, the float index calculated on the basis of real transactions ascended by 0.52 points or 1.33 per cent to 39.02. A total of Rs. 3,580,221,388 turnover was realized during the review period from 11101443 units of shares traded via 39,607 transactions.</div> <div> </div> <div> The accompanying figure depicts the sector-wise distribution based on total volume of trade. Commercial banks dominated the total volume of trade with 64.27 per cent holdings. Development banks covered 13.98 per cent, the insurance sector accounted for 12.08 points and the rest of the sectors made up for the remaining.</div> <div> </div> <div> Technically, the Simple Moving Average (SMA) has dominated both short term and long term SMA. However, narrowing down of the index suggests a few sideway movements for upcoming sessions. </div> <div> </div> <div> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> </div> <div> <img alt="" src="/userfiles/images/sctrl.jpg" style="width: 550px; height: 230px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.', 'sortorder' => '1911', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2062', 'article_category_id' => '39', 'title' => 'The Story Of The "Best Managed Company"', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Vijay Shrestha" src="/userfiles/images/vs%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Vijay Shrestha</strong></div> <div> Group Executive Director</div> <div> Yeti Airlines</div> </div> </td> </tr> </tbody> </table> <div> Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.</div> <div> </div> <div> Vijay Shrestha, Group Executive Director of Yeti Airlines, says the company is the market leader in rural destinations and mountain flights. The company has stood strong as a partner in transportation of local and foreign passengers, goods and transfer of tools, and equipment for development work in remote corners of Nepal. Along with this, the company has a strong foothold in services targeted at city airports.</div> <div> </div> <div> Shrestha believes that the current range of products and services offered to all three ecological regions would help the company grow. “Both organisational and individual passengers, travel agents and development organisations will eventually come to us as we have services offered to both rural as well as the urban destinations in the hills and plains. These services and clients are critical for our growth,” he explains. The unique blend of services the company provides, the commitment of stakeholders and a strong management has put the company ahead of its competitors. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Unique Management Practices</strong></span></div> <div> Shrestha is of the opinion that competition in the airlines industry lies in value offerings rather than product and service offerings. The company has its own unique management practice along with the largest nationwide network of domestic flights that gives it an edge above others. Shrestha explains that clients who have to go to Humla, Pokhara, Darjeeling, Sikkim, Lukla, Lucknow or any other destination, can count on Yeti Airlines as it has flights to these places or to a nearest place.</div> <div> </div> <div> The company has also made flight safety a top priority. “Compared to other airlines, we have invested heavily in flight safety and flight management system. We are in a leading position when it comes to safety management,” Shrestha says. He further says that the company has put a lot of resources in technologies such as ticket booking systems and management information systems. </div> <div> </div> <div> The company has made on-time flight its unique selling point. Shrestha says that this initiative has helped the company add value to its services and brand recognition. “We have always prioritised timely flights. We prefer flying few minutes earlier than being late. This is one of the most crucial values we are offering to guarantee convenience to our clients,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>A Synergy of Two Brands</strong></span></div> <div> The company claims that the market coverage by both Yeti and Tara Air is probably the widest among domestic players. According to Shrestha, the company has around 35 per cent market share in city airports and around 65 per cent in rural destinations though the market share keeps fluctuating depending on various market situations. </div> <div> </div> <div> Tara and Yeti have been complementing services and coverage with a fleet size of 14 aircrafts. Shrestha says that the customer base and nature of services has determined the creation of two different brands rather than a single brand operating in both rural and urban destinations. Tara has been operating in rural destinations in hilly and mountainous regions since 2009 with a fleet of six STOL aircrafts.</div> <div> </div> <div> The weather condition and quality of airports play a crucial role when it comes to making flight decisions in hill airports but airlines can make decisions easier in city airports. Similarly, the nature of passengers and clients is different in the areas where Tara operates. Shrestha adds that the variety in types and needs of customers, services and markets have led to the operation of two airlines under different brands. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Group Management</strong></span></div> <div> The Yeti Group is a large business conglomerate working in the tourism and aviation industry with one and a half dozen companies. The group also owns KK Super Mart Nepal, a chain of convenience stores. The management of each of these companies is highly decentralised and each company functions independently. Hotels, resorts, lodges, trekking and travel companies and airlines operate on their own though strategic unity is maintained among them. “Operation of these businesses is largely decentralised and where possible, we try to synergise the marketing,” says Shrestha. The group has also been promoting its travel companies locally. </div> <div> </div> <div> The group also decentralises its human resource management. Its aviation companies employ 800 personnel while the entire group employs a total of 1500 people. According to Shrestha, the company has been able to maintain a high rate of staff retention with its policy of prioritising employee welfare, motivation and creating a professional and friendly working environment. While the aviation industry ails from a lack of skilled technical workforce, the Yeti group is known to not face any shortage in technical human resource.</div> <div> </div> <div> Though the group’s companies are performing well in their respective sectors, the group has not pursued organised branding. Instead, each company and subsidiary has its own brand recognition and is not marketed as a subsidiary of the group. Shrestha hints that organised branding is in the pipeline.</div> <div> </div> <div> <img alt="Yeti Airlines Hangar" src="/userfiles/images/cf1%20(Copy)(1).jpg" style="width: 550px; height: 347px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Future Moves</strong></span></div> <div> The group is planning to come up with new resorts and lodges in Chitwan and Yeti Airlines plans to consolidate value offerings to its customers. The company is dedicated to take its services to new heights by consolidating services in the urban sector. “Our aim is to develop the tourism and aviation industry for the development of the country. Mountain transport and mountain tourism cannot be imagined in the absence of Tara Air and Yeti Airlines. When the services offered are beneficial to the country and people at large, the company will always prioritise on them and strive to make them better.”</div> <div> </div> <div> The company has not decided against reviving flights from its former international carrier - Yeti International. The international carrier was closed down after its joint venture partner Air Arabia withdrew support. Shrestha says that as the company is dedicated to move ahead in the aviation business, there is a possibility of its revival, though there are not fresh tie-ups being made at the moment.</div> <div> </div> <div> <strong style="font-size: 14px;">CSR</strong></div> <div> The airline has been involved in corporate social responsibilities (CSR) since the establishment of the company. The company has been involved in health, social empowerment and education sectors through financial contributions and direct involvement in social works. </div> <div> </div> <div> As a part of CSR, Yeti Airlines donates Rs 4 per flight ticket to four social organisations namely United Mission to Nepal, Save the Children, Habitat for Humanity and Care Nepal. The company has also provided financial support to various social organisations such as Tewa, OCCED, Maiti Nepal, Nepal Leprosy Relief, Nepal Glaucoma Eye Clinic (Tilganga), Sewa Kendra Leprosy, Helpless Children Welfare Mission, Spinal Injury Rehabilitation Centre, Women for Human Rights, CWIN Nepal and the Centre for Victims of Torture (CVICT). </div> <div> </div> <div> The airline has also launched the ‘Green Far West Project’ Kailali, Doti, Rajpur and Kanchapur districts for plantation of appropriate tree saplings in chosen community forests.</div> <div> </div> <div> Recently, the company took 18 orphans of Bal Mandir to a mountain flight on the occasion of National Children’s Day and the airlines’ 15th anniversary.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.', 'sortorder' => '1910', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2059', 'article_category_id' => '160', 'title' => 'Corptoon Vol3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Corptoon', 'sortorder' => '1909', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2060', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Visual Edit', 'sortorder' => '1908', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2078', 'article_category_id' => '34', 'title' => 'Hydropower News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Korean Company to Bring Light in Rasuwa</strong></span></div> <div> The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and drilling and drifting works, company registration, financial arrangement of equity capital have been made, says the company.</div> <div> </div> <div> Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share, which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. </div> <div> </div> <div> The International Finance Corporation (IFC) has joined as a co- developer for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. </div> <div> </div> <div> We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. </div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019.', 'sortorder' => '1923', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2077', 'article_category_id' => '34', 'title' => 'Tourism News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Soaltee Crowne Plaza wins Today's Traveller Award</strong></span></div> <div> <img alt="Today's Traveller Award" src="/userfiles/images/bn4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 265px;" />Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. </div> <div> </div> <div> Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. </div> <div> </div> <div> Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.</div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Nepal Wins Best Print Promotion in TTF2013</strong></span></div> <div> Nepal Tourism Board (NTB) has bagged the ‘Best Print Promotion’ award in Travel and Tourism Fair (TTF) 2013 at Ahmedabad, India. According to a press statement from NTB, the award was attributed to the excellent combination of content and substance of the Nepali stall in the Fair. NTB participated in the fair in Ahmedabad, Gujurat from 16-18 August 2013 with the aim of increasing awareness and educating Indian travellers on Nepal's tourism products and offerings targeting upcoming season of Dashara and Puja Holidays in Gujurat.</div> <div> </div> <div> The three day fair attracted more than 20000 visitors. 100 stalls featuring a dozen Indian states along with destination countries Nepal, Thailand and Malaysia were present the fair. Commemorating this year as Mount Everest Diamond Jubilee Celebrations, Nepal was marketed as an ultimate adventure destination. According to the statement, Indian adventure enthusiasts are seen exploring various adventure travel options in recent days. NTB and the participating company from Nepal like Yeti Airlines Domestic, Monterosa Treks and Expedition, Nepal Holiday Maker Tours and Travel and Fishtail Tours and Travels among others engaged in both B2B and B2C promotion during the fair.Pilgrimage, Leisure, Soft Adventure Activities and Muktinath pilgrimage tour drew special attractions.</div> <div> </div> <div> India is the most significant market for the Nepalese tourism industry with approximately 1/3rd total market share. In 2012, Nepal received 165,815 tourists from India by air which is 20.6 per cent increase as compared to 2011. In the period of Jan- July 2013 itself, Nepal received 89,500 tourists from India.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>August Sees Increase in International Tourist Arrivals</strong></span></div> <div> <img alt="Tourist in Nepal" src="/userfiles/images/bn5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 225px;" />The figures released by Immigration Office, Tribhuvan International Airport (TIA) revealed that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34 per cent to 47,397. </div> <div> </div> <div> In aggregate, the South Asian segment has registered positive growth of 10 per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64 per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and 73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. </div> <div> </div> <div> An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent respectively compared to the same month last year. </div> <div> </div> <div> Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.</div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel', 'sortorder' => '1922', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2076', 'article_category_id' => '34', 'title' => 'Money News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 16px;">157.8 Million Shares Listed in NEPSE</strong></div> <div> Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.</div> <div> </div> <div> Securities Board of Nepal (SEBON) grants share issuance permits for a total of Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO of Rs 3.51 billion to 23 companies, right shares of Rs 3.94 billion to 5 companies, bonus shares of Rs 4.60 billion to 52 companies and bond issuance of Rs 3.15 billion to 7 companies. </div> <div> </div> <div> <strong>Market Size Increased by 40pc</strong></div> <div> Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-13. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011- 2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-13. </div> <div> </div> <div> According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies as well as rise in the number of shares listed and number of investors within this year. He also said the operation of essential infrastructures like CDS & Clearing and mutual funds also helped to increase the market size. Poudyal added, “The number of investors is also increasing lately.</div> <div> </div> <div> <strong>Transaction Amount Doubled</strong></div> <div> The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-12. The share transaction was of Rs 10.27 billion in FY 2011-12 which reached Rs 22.4 billion in FY 2012-13.</div> <div> </div> <div> <strong>Listed Companies 230</strong></div> <div> The number of listed companiesby the end of fiscal year 2012-13 has reached 230. Among the listed companies, 198 are banks and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 trading organisations, 4 hydropower companies and 2 others. There were 216 listed companies in FY 2011-12.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.', 'sortorder' => '1921', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2075', 'article_category_id' => '34', 'title' => 'Corporate News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>TeliaSonera to Sell Hello Mobile Shares</strong></span></div> <div> <img alt="Hello Nepal" src="/userfiles/images/bn2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 104px;" />TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. In a press statement issued on September 11, TeliaSonera informed that they are going to sell the shares to an American company Zhodar Investment, which is based in British Virgin Islands. The selling process of the shares will be completed within a month, reads the press release. </div> <div> </div> <div> “Over the past year, uncertainty regarding regulatory and legal environment for consolidation and granting of licenses in Nepal has increased. Pursuing an acquisition of Nepal Satellite is therefore not possible for regulatory reasons,” the statement read. </div> <div> </div> <div> TeliaSonera, had incurred a loss of nearly 400 million Swedish Kronor, which is approximately Rs 6.19 billion.</div> <div> </div> <div> The company has said that the agreement will enable it to concentrate on Ncell, which reduces the business risk and complexity of its total involvement in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Food Drinks and Hospitality Expo Concludes</strong></span></div> <div> <img alt="Food Expo" src="/userfiles/images/bn3%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 138px;" />The Seagram’s Royal Stag Food Drinks & Hospitality Exhibition 2013 concluded on September 22. The Exhibition 2013 hosted 122 exhibitors, 3 thematic pavilions, 5 special events and showcased various products and services of the food, beverage and hospitality industry.</div> <div> </div> <div> According to the organisers, the exhibition was visited by a total of 45840 visitors of which 9840 were business visitors and 36000 consumers. </div> <div> </div> <div> The American Franchise Pavilion, Hospitality Education Mart, Morde Master Baker Challenge, Monin Best Bartender Contest, Master Chef Challenge were some of the attractions of the expo.</div> <div> </div> <div> The exhibition was organized by House of Rajkarnicar Exhibitions & Events in recognition of the tremendous growth in the sector. </div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. I', 'sortorder' => '1920', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2074', 'article_category_id' => '34', 'title' => 'Banking News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>NRB Urges to Keep Currency Notes Clean </strong></span></div> <div> <img alt="Nepali Note" src="/userfiles/images/bn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 120px;" />Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives. </div> <div> </div> <div> Speaking at an interaction programme organised at the office of New Business Age Pvt Ltd on September 15, NRB spokesperson Bhaskar Mani Gyawali made such a request. “We are distributing new banknotes this year too, so I would like to request one and all to help us in keeping the notes clean,” he said, adding that the citizens are also responsible to keep the notes that are national property, clean. </div> <div> </div> <div> The NRB has started distributing new and crisp notes worth Rs 30 billion aiming to meet high demand during the festivals. The designs of banknotes of Rs 100, 50 and 20 have been changed in the new lot to make it visually-impaired friendly.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>NRB Refutes Deadline Extension Reports </strong></span></div> <div> <img alt="Nepal Rastra Bank" src="/userfiles/images/bn1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 185px;" />Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). Reacting a news report claiming that it had extended the deadline, NRB spokesperson Bhaskarmani Gyawali said . “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013- 14 if approved by the NRB could be counted on the paid-up capital.” Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives.', 'sortorder' => '1919', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2049', 'article_category_id' => '198', 'title' => 'The Legendary Bakers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Bhawani Timilsina</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Bijay Paudel, Sales Manager, Krishna Pauroti Pvt Ltd" src="/userfiles/images/bp%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 207px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Bijay Paudel</strong></div> <div> <em>Sales Manager</em></div> <div> <em>Krishna Pauroti Pvt Ltd</em></div> </div> </td> </tr> </tbody> </table> <div> Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality. Krishna Pauroti since its establishment six decades earlier has now become synonymous to the industry itself, Bijay Paudel sales manager at the Krishna Pauroti Pvt Ltd said. Krishna Bahadur Rajkarnikar, the pioneer of bakery in Nepal, established the bakery in 1948 following his arrival from India, Paudel said adding the baker had “introduced loaf and cakes for the first time in Nepal.” During a visit to India, Krishna Bahadur Rajkarnikar was influenced by a famous English bakery named Firpo. Upon his return to Nepal he started bakery business. </div> <div> </div> <div> Krishna Loaf is renowned in the bakery industry for its quality and has been a benchmark for quality for many bakers. It is one of the first loaf of bread that Nepalis came across, before that roti was the only household thing to eat. </div> <div> Down the years, the bakery has latest bakery equipments but it was not so in the beginning. “It was handmade affair in the beginning. Tough various international technologies had been entered in the recent time,” Bijay said adding, “Consumer’s taste keeps on changing. It is necessary to put out a bigger selection for the consumers.” </div> <div> </div> <div> The legendary bakery firm has set itself apart from other bakers in terms of packaging, product quality and ingredients. Though the bakery has not launched any ad campaigns, the company is preparing to develop and advertise its products in media in the days ahead. “We are planning to make strategy in this regard in the near future,” he said while conceding that “Bakeries rarely invest in advertisement “.</div> <div> </div> <div> “Being a legendary bakery we have been striving to manufacture bakery products that have superior quality.” “Consumers now are becoming very conscious about brand and quality. It encourages us even further to maintain quality, “he says. “The bakery has been constantly planning to improve and upgrade quality. We have been trying to embrace the latest technology.”</div> <div> </div> <div> Bakery product consumers are growing. And this growth has brought in customers with varied taste. Paudel elaborated that considering the popularity of the brand, it is imperative for them to offer wide ranges of bakery products that confirm to the quality standards, taste and expenditures of our customers. “Growing preferences of consumers has played a great role for the increasing popularity of the bakery items, “he adds. </div> <div> </div> <div> Not only customers, he claims that the brand has inspired many others to join the industry and contribute in expanding it. Bakery items like bread, patties, black forest, fresh snacks, rolls, cakes, pies and other pastry products are becoming popular among different groups of people. “The number of bakery products consumer is growing by the day” Paudel added informing that presently the bakery produces more than hundred bakery products that are equally popular among its customers. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-12', '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' => 'Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality.', 'sortorder' => '1917', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2068', 'article_category_id' => '38', 'title' => 'Best Ways To Retain Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year. </div> <div> </div> <div> Employees leave organizations for different reasons. Some find a different job, continue higher studies, and some move away due to family problems. Others retire, quit on impulse due to dissatisfaction about something, or never intended to work after earning a certain amount of money. People also get fired or laid off and decide they no longer need a job. Some may also want to start a new venture.</div> <div> </div> <div> An individual will stay with an organization as long as the incentive it offers (such as satisfactory pay, good working conditions, and developmental opportunities) are equal to or greater than their time and effort. Although some individuals may quit a job on impulse, most people who leave spend time evaluating their current job against possible alternatives, developing intentions about what to do, and engage in job hunts. All of these examples represent a turnover and they don’t all have the same organizational implications. Thus, turnover can be voluntary, involuntary, functional, dysfunctional, avoidable and unavoidable.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Employees Stay </strong></span></div> <div> As employees participate in their professional and community life, they develop a web of connections and relationships on and off the job. Leaving a job would require severing or rearranging these connections. Employees who have many connections are more embedded, and thus have numerous reasons to stay in an organization.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Factors of retention</strong></span></div> <div> Challenging and meaningful work, opportunities to learn and grow, the sense of being part of a group or team, and having a good boss are four primary ways to retain employees, though the first three ways are basically influenced by the boss.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Challenging, Meaningful and Transparent Work</strong></span></div> <div> Exciting, challenging and meaningful work that makes a difference is the most important factor in job satisfaction. If one is going to spend a great deal of one’s life doing something, it at least should have some interest and some meaning or purpose. Also, an organization should prepare a platform where employees feels rewarded and attracted to go to office daily. The management also has to maintain transparency in terms of vision, mission, goals, objectives, implementation strategies, and policies in order to make a job meaningful and challenging.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Opportunities to Learn and Grow</strong></span></div> <div> Clear career growth, learning, and development are three of the top reasons that people stay in their current jobs.</div> <div> A good boss provides opportunities for learning, challenges, and growth on the job that match the employee’s abilities and aspirations. He or she encourages employees to improve the work as well as their skills and to keep up with the latest developments in their field as well as facilities for providing formal and informal learning opportunities. Employees should also be encouraged to network, to join trade and professional associations and to read publications related to their line of work.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sense of Being Part of a Group or Team</strong></span></div> <div> Working with great people, being a part of a team, and having fun on the job are some important factors in job satisfaction. Even a department, section, or division can feel like a team if the manager and employees treat each other with courtesy and respect, listen to one another’s ideas, recognize and celebrate each other’s accomplishments, and work toward common goals. Of course, every team or work group can benefit from training in areas such as communication, group development, decision making and conflict resolution. It is the manager’s responsibility to provide the work group members or team members with the tools and resources to work well together. It is the group’s responsibility to utilize them well. This contributes in building a feeling of organization citizenship.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Good Boss as a mentor, facilitator & visionary leader</strong></span></div> <div> Rudeness, impatience, arrogance, intimidation, yelling, being condescending, embarrassing people, swearing, telling lies, sexual harassment, using inappropriate humour and demonstrating sexism or racism will not earn the loyalty or respect of employees. Besides, behaviour such as failing to solicit and listen to employee input, failing to recognize employees’ accomplishments, withholding praise, giving only negative feedback, taking credit for others’ accomplishments or ideas, blaming others for one’s own mistakes, betraying, micromanaging, withholding critical information, showing distrust, showing favouritism, setting unrealistic goals or deadlines, and failing to help good performers grow in their career in the hope of holding onto them are equally harmful to good boss- employee relations which encourages employees to leave. Satisfied employees report that their managers are good role models and demonstrate inspiring leadership. They communicate well and often, they are trustworthy and supportive. They help to create a sense of purpose in the work, and they encourage employee growth and career development. Also, a boss should be up to date with the latest ideas in order to cope and balance new entrants who bring new vibrations in the organization. In short, for managing a talent, a boss should be a talented person first. The word ‘boss’ itself needs to be transformed to ‘mentor’, ‘facilitator’ and a ‘visionary leader’.</div> <div> </div> <div> Besides these primary factors, there are a number of others that influence employee retention, such as competitive benefit packages that fit employees’ and industries’ needs, stay and exit interviews and application of their outcomes at the strategic level, open communication between employees and management, and communicating clear expectations to employees.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year.', 'sortorder' => '1916', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2020', 'article_category_id' => '122', 'title' => 'MS Group: From Manufacturing To Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Shashi Kant Agarwal, Managing Director, MS Group" src="/userfiles/images/ssk.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Shashi Kant Agarwal</strong></div> <div> <em>Managing Director, MS Group</em></div> </div> </td> </tr> </tbody> </table> <div> Travel and tourism does not lure someone merely by its entertaining and fun experiences. Entrepreneurs are lured to this industry because of its lucrative business prospects that are believed to be growing in Nepal. MS (Maliram Shivkumar) Group is one of the latest national manufacturing houses to join this niche. It has decided to venture into the tourism industry by establishing luxury hotels in a tie-up with Marriot International- an US based international hotel chain.</div> <div> </div> <div> Nepal Hospitality Group Pvt. Ltd, a subsidiary of the MS conglomerate reached an agreement with Marriott International to open the Fairfield by Marriott hotel in Thamel, Kathmandu. This business hotel, according to Shashi Kant Agarwal, Managing Director of the group, has an investment of Rs 600 million and informed that its construction has already kicked off.</div> <div> </div> <div> Similarly, a second hotel in Naxal, also under the joint venture partnership with Marriot International is scheduled to start construction immediately after Tihar festivals. Agarwal says that this will be a luxury hotel with 250 rooms. Both of these hotels will be at par with four star hotel standards.</div> <div> </div> <div> These new ventures of the group are the first initiatives towards the tourism industry and are part of the larger plan the group has. Agarwal says, “We have plans to establish hotels across the country. This is the beginning and we have decided to come up with two new hotels at the time as the political situation has shown signs of improvement.” Agarwal, who is also a traveller, says there are numerous tourism potentials in sub-sectors like eco-tourism, adventure tourism and religious tourism. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Transition</strong></span></div> <div> The journey of the MS Group started as a trading house some six decades ago by Shashi Kant Agarwal’s grandfather, Maliram Agarwal. During that time, he had a shop at Indra Chowk in Kathmandu that sold clothes in the palace of Ranas. When the market gradually expanded, Maliram Agarwal started a whole-sale garments store at Jhochhe. Garments were imported from India and supplied to local retailers in the valley districts along with Dhulikhel, Katari, Tandi among others. The founder Agarwal used to walk for weeks to reach these places and sell goods even in credits to local merchants.</div> <div> </div> <div> The local garment business slowly expanded into international trading with the beginning of third country export in Nepal. Agarwals involved in it by exporting jute and textiles. Gradually they started importing motor parts and bearings. Some were consumed in Nepal while majority of them were exported to India.</div> <div> </div> <div> The group had already seen success in the trading business before moving onto the manufacturing sector. An incident during the trading days encouraged Agarwals to venture into a more stable business than trading – into the manufacturing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Initiating Manufacturing </strong></span></div> <div> Agarwal recalls that a ship transporting garments belonging to MS Group along with other traders of Nepal was hijacked near Hong Kong and goods never reached Nepal making a huge loss to the companies. </div> <div> </div> <div> This unfortunate incident made them settle down to a business with marginal risks. Agarwal says, “That incident was a blessing in disguise. In our corporate life-cycle, it inspired us to move towards the manufacturing business.” As a consequence, a hosiery factory was established, although of a small scale. He recollected that the hosiery factory came at a time when the group was counted as one of the leading garment trading concerns in Nepal in terms of turnover and said that the family had decided to establish a cottage industry despite it. </div> <div> </div> <div> The hosiery factory at Battisputali, Kathmandu grew well and was followed by the setting-up of Pashupati Textile factory in Patan. This manufacturing unit produced both cotton and polyester textiles and also dyed them. As the group’s turnover kept growing, it moved into steel manufacturing with Bhagwati Steel Industries in Birgunj. There were no pauses in the expansion drive. The group further established the largest sugar mill Everest Sugar Mill in Mahottari, in partnership with Everest Group. Similarly, Reliance Spinning Mill , that is now a factory that has created highest number of employment- 3400 people including 1500 women, was also established.</div> <div> </div> <div> Since the group moved into the manufacturing sector, it never had to look back. As of now, the group has a total of 10 companies operating in manufacturing, housing and trading business including a couple of them in partnership with other business houses of Nepal. And, these companies register an annual turnover of Rs 12 billion. </div> <div> </div> <div> As a recent expansion to its manufacturing unit, the group is setting up a new large scale sugar mill in Siraha. According to Agarwal, the construction works have commenced and necessary machineries have been imported. He says that the mill will begin crushing in a year’s time. </div> <div> </div> <div> Along with these, the group is promoter in some banks and financial institutions but Agarwal says that the group is not directly involved in them.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Positioning Markets </strong></span></div> <div> As the group is involved in production of diverse products, they cater to a wide range of market and target customers. Most of its steel products are targeted at local market and is purchased for constructing electricity poles, bridges, telephone towers by telecom and electricity companies. Similarly, the group also produces galvanised sheets and pipes for the local market. </div> <div> </div> <div> Likewise, sugar is sold to both bulk buyers and general public. According to Agarwal, Salt Trading, bottlers of Coca-Cola Pepsi, and Frooty, Rio and other beverage manufacturers are regular buyers. Meanwhile, 75 per cent of production of Reliance Spinning Mill is exported and the remaining is consumed within Nepal which accounts to around 50 to 60 per cent market share, claims Agarwal. The foreign markets for its products are mainly India and Turkey.</div> <div> </div> <div> Agarwal says that the housing project of the group did relatively well as it was launched relatively earlier before the market was over flooded. However the bubble burst of the housing and real estate business hit its Subsidiary Sunrise Apartments. He says that the housing still has strong brand strength in the market. </div> <div> </div> <div> Elaborating on the branding needs, he argues that other products such as sugar do not need any branding and aggressive publicity. As the market is mostly the bulk buyers, offering quality would help gain the market share. And added that sugar produced by Everest Sugar and Chemical Industry Ltd has a good recognition in domestic and international market.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <div> <span style="font-size:16px;"><strong>Some Companies under MS Group</strong></span></div> <div> •Reliance Spinning Mills Ltd</div> <div> •Everest Sugar & Chemical Industries Ltd</div> <div> •Sunrise Apartments Pvt Ltd</div> <div> •Bhagwati Soap Industries Pvt Ltd</div> <div> •Bhagwati Carbide Industries Pvt Ltd</div> <div> •Bhagwati Rolling Mills Pvt Ltd</div> <div> •Nepal Hospitality Group Pvt Ltd</div> <div> •Bhagwati Steel Industries Pvt Ltd</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Some Products of MS Group</strong></span></div> <div> •Polyester, Acrylic and Cotton Yarns</div> <div> •Steel</div> <div> •Sugar</div> <div> •Housing and Apartments</div> <div> •Soaps</div> <div> •Partially Oriented Yarn,Polyester Texturised Yarn and Knitted Fabrics</div> <div> •MS torque steel </div> <div> •Dry cell batteries</div> <div> •Galvanised sheets, poles, door/window profiles</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Employment and Management</strong></span></div> <div> According to Shashi Kant Agarwal, the group has provided direct employment to 6000 people including its subsidiaries under the joint venture with other business houses. However, Reliance Spinning Mill alone employs 3500 people. The decentralised management system of each of the companies looks after each and every management responsibilities and daily affairs. He shares that the policy level and financial affairs are only taken care by the central management. The management team is well groomed to take care of everyday activities, marketing, sales and procurements, he added. </div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Activities</strong></span></div> <div> Although the group does not aggressively pitch Corporate Social Responsibilities (CSR) it has subtly carried out such activities, in various forms, in localities where the groups’ factories established. The group has built hospitals, dispensaries, schools, rooms for schools, donated ambulances among others on a regular basis. Agarwal says that his father is a spiritual person and makes constant donations and supports to religious causes. Well known among the Marwari community, his father had donated land worth Rs 20 million to Gaushala recently.</div> </div> </div> </td> </tr> </tbody> </table>', 'published' => true, 'created' => '2013-10-27', 'modified' => '2013-11-12', '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' => 'MS Group started its business journey almost six decades ago as a trading house. During these years the house has not only established itself as a leading manufacturing house, but more recently has also ventured into the tourism industry with major hospitality projects on the cards.', 'sortorder' => '1915', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2061', 'article_category_id' => '150', 'title' => 'Business Briefs (28 October - 3 November)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Micromax Launches Two New Models</strong></span></div> <div> Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor. It has 1 GB of RAM, and has an 8 MP primary camera and 2 MP secondary camera. Canvas Fun comes with Android 4.2.2 Jelly Bean and has a 4.5 inch screen. It is powered by a 1.3 GHz dual core processor and has 512 MB of RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Experience Hyundai’ Organized</strong></span></div> <div> Laxmi InterContinental Pvt Ltd organized an event named ‘Experience Hyundai’ from 24-26 October at its Thapathali showroom. According to the company, the event was organized to provide a platform to experience the entire Hyundai family along with some entertainment. The event featured free car wash, free gift on every test drive, any brand exchange, on spot finance and insurance and a free check up facility for Hyundai vehicles. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Karbonn A5 and A26 Launched</strong></span></div> <div> Allied Trade link International P Ltd, the authorized distributor of Karbonn Mobile launched two new handsets A5 and A26 in the market. A5 has features like Android Gingerbread, dual SIM, 1 GHz processor, 256 MB RAM, 3.2 MP camera and front digital camera among others. A26 comes with features like Android v 4.1, 1.3 GHz dual core processor, 5 inch Screen, Wi-Fi, 2000 mAh battery, 5 MP camera with LED flash, Front Digital camera and 512 MB RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yamaha Scooter Exchange Concludes</strong></span></div> <div> MAW Enterprises organized ‘Yamaha Scooter Exchange Mahamela’ from October 24 to 26 at Bhrikuti Mandap. According to the company, this was the first and biggest event of its kind in Nepal. The event offered exchange of old motorcycles and scooters with Yamaha Ray. There was participation of more than 10 dealers and over 40 re-condition houses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ford Focus Best Selling Vehicle Globally</strong></span></div> <div> Ford Focus has maintained its leadership as the best-selling vehicle nameplate globally, based on Ford analysis of the latest Polk global vehicle registration data for the first half of 2013. Globally, Focus is up 20 per cent in the first half of 2013 as compared with the same period last year. Also, Ford Fiesta ranks as the fourth best-selling vehicle overall, and is the world’s best-selling subcompact vehicle through June 2013. Ford is the only brand with two nameplates among the global top five best-sellers.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor.', 'sortorder' => '1914', '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' => '2065', 'article_category_id' => '37', 'title' => 'Nepali Federalism From Economic Perspective In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Dr Chandra Mani Adhikari</strong></div> <div> </div> <div> There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance.</div> <div> </div> <div> A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.</div> <div> </div> <div> The date of election has been set and the Election Commission is working within a given framework. But issue and essence require more debate while it is also urgent to have constitution.</div> <div> </div> <div> In this regard, some observations on the basis of the international experience and national reality are pertinent. The state’s structure can be divided into three systems. One is related to formation of the government. The second is defined power of the government whereas the third is the mechanism to serve the grassroots. The federal system has been developed since 17th century.</div> <div> </div> <div> The unitary form of governance was implemented after the First World War which didn’t work properly in practice. Regarding the forms, the main question regarding the federal or unitary system is motive of separation of rights for balancing different levels of the government.</div> <div> </div> <div> In some federal countries, the center seems more powerful in others the states are more powerful. In principle, federalism is the system of self-governance by the state based on rule-of-law. Thus, federal system would not be meaningful in undemocratic environment.</div> <div> </div> <div> Nepal is already a federal republic, if we go only by the Interim Constitution of Nepal. But in practice, it is still to be federal. Many questions such as those related to the structure of the state, basis of restructuring, methodology of building the federal nation, the form of government, election system and judicial system are still unanswered. Moreover, there is still no consensus on the issues of culture, geography, economic resources, population, infrastructure, level of social understanding and nature resources that a state needs to have to qualify to be a federal state.</div> <div> </div> <div> Other hot topics for discussion are the number of federal states, their geographical border and authorities of the legislative and executive bodies of the federal states.</div> <div> </div> <div> <img alt="" src="/userfiles/images/epn1%20(Copy).jpg" style="width: 550px; height: 252px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Two best examples of successful federalism are Switzerland and USA where many smaller nations tied up into the confederation. However, in USA the confederation was not working properly in the beginning. So, in 1781, USA declared the Federal Constitution with relatively more power to the center.</div> <div> </div> <div> After 50 years of experience with its own style of federalism, Switzerland too issued American model constitution in 1848 that aimed to enhance cooperation among the states. Germany introduced cooperative base federal constitution in 1871 and Belgium, France, Spain and South Africa followed it. Some countries like Bosnia and Herzegovina, Ethiopia, Congo and Iraq entered into federal system with background of conflict and other historical accords.</div> <div> </div> <div> On some instances, economic disparity, religious differences and geographical differences too have led to federalism. Canada is one such example.</div> <div> </div> <div> Nepal declared itself a federal state after people’s movement. And there are various reasons and logic behind the Nepali federalism. These include safety to the local community from encroachment of outsiders, institutionalization of democracy and making the state more inclusive. But what is happening (and has happened) in Nepal is different than the global experience.</div> <div> </div> <div> Nepal’s need is to end all sort of social and economic disparities by ensuring a conducing economic and political infrastructure through a political and constitutional consensus, using federalism as an instrument. In this context, it’s irrelevant to ask whether the state should be restructured on ethnic lines. Lengthy debate on the question whether the states should be based on single ethnicity or multi-ethnicity identification has proved futile.</div> <div> </div> <div> To make federalism successful in its objectives, we should scrutinize the real challenges and potentials, which are directly related to state restructuring. These include Nepali ethnicity management (with a goal of transforming current Nepali society into socially-economically and politically prosperous future) geographical balance and finding an optimum in terms of types, name, levels, numbers and size of federal and state governments. Also challenging is the question of whether optimization can be achieved with identification of appropriate determinants like population, geography and some other context.</div> <div> </div> <div> Among such contexts, the distribution of resources plays a prominent role. This is related with the need divide and assign the economic and revenue rights — PROPERLY — between the governments where resources can be mobilised in right proportion through (double, united or moderate) mechanism. This may require establishing a new set of institutions to run the system. The total size of the national budget will grow as each state will have its own government-legislature, chief minister and ministers and so on. We need consensus to determine a manageable size for all these. </div> <div> </div> <div> While determining the size and number of the provinces, presently available physical and economic resources, density of population, geographical area, level of technology, means of transportation etc should be considered. Another prominent reality to be accepted is the beauty of diversity. The Mountains, hills and the plains — these three geographical regions are interdependent; however all aspects of such dependencies are not measurable economically.</div> <div> </div> <div> The strength of the Hills is water as well as some other natural resources and high possibility of tourism industry. Whereas the strength of the Terai lie in the vast fertile land, urbanization, dense population and more economic activities.</div> <div> </div> <div> However, these factors may change in the future for example; migration may change the demographic structure. In this context, all the political parties and the policy makers need to be careful while allocating the economic resources and political rights between the states and the centre.</div> <div> </div> <div> In conclusion, striking a balance between the economy, politics and social aspirations of people is needed to design an optimum form of federalism. It is really the responsibility of present leadership to work for the next generation for a better and prosperous Nepal.</div> <div> </div> <div> <em>(Writer is an economist and also chairman of National Council for Economic and Development Research (NAREC Nepal)</em></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance. A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.', 'sortorder' => '1913', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2064', 'article_category_id' => '47', 'title' => 'An Unintentional Journey', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come. </div> <div> </div> <div> With the passage of time, he tried to fit himself in different roles, either merely to make his living, an ambition to earn huge amount money or sheer interest to serve the nation. Whatever he met on the way, he accepted it as a career with making sincere and hard efforts to make it happen.</div> <div> </div> <div> The ambition to earn money has its roots in his early childhood. The deprivation he experienced during his childhood left an indelible imprint in his mind, always compelling him to think about accumulating wealth. However, he says, he never compromised with his ethics and integrity to make money. Born to Late Jibnath Lamichhane and Late Dewaki Lamichhane in a middle-class family in Makwanpur, he had to endure the grief of his father’s demise barely at the age of two. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Multiple identities</strong></span></div> <div> Recently, he has been recommended as a Nepali Congress (NC) candidate for the upcoming Constituent Assembly polls from Makwanpur Constituency-2. He joined the party last month amid a function in Kathmandu, where the party president Sushil Koirala welcomed him by issuing the general membership of the NC. </div> <div> </div> <div> “I joined this democratic party as I want to serve the nation now through politics,” shares Lamichhane. He is in the contract business for more than 25 years. During this period, his company has not only constructed hundreds of bridges, roads and buildings, but also worked as a sub-contractor for the construction projects as far as in India, Japan, Cambodia and Qatar. </div> <div> </div> <div> He is now leading more than 17,000 contractors of the country as a President of FCAN. Apart from that, he is also a Board Member of Nepal Purwardhar Bikash Company Limited (NPBCL), Nepal’s first public limited company building a national toll highway of Asian Highway Standards. The company is in the process of building the Kathmandu-Kulekhani-Hetauda Tunnel Highway (KKHT), a dream project with the 4P initiative (people, public and private partnership). </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Teaching in transition</strong></span></div> <div> After completing his School Leaving Certificate degree from a local school in the Chitlang, Makwanpur, he decided to teach in a school at Kulekhani to make a living instead of going to college. It was while teaching in the school he decided to appear privately in Intermediate degree exams. He was happy for getting a teaching job as he did not need to worry about bread and butter. Yet, he was looking further for ways to make more money. “It was very difficult for me to manage everything with mere Rs 275 per month. So, I was looking for other alternatives,” he shares.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Turning Point</strong></span></div> <div> Once, Lamichhane was returning home from Martung, Kulekhani for his holiday. Incidentally, he met one of his relatives Ram Prasad Lamichhane on the way, who happened to work for Mittal Construction Pvt Ltd in a Devighaat Hydropower project. Lamichhane inquired about job possibility in the company. The relative informed him that the company was looking for someone who could look after the project accounts, and had to be stationed in Dhunche in Rasuwa. </div> <div> </div> <div> Agreeing to work, he went to Kathmandu the next day for the job in the Company. The company offered him Rs 1000 per month for the job. Later, he went to the project site to take up the job of maintaining financial account of the project. However, he did not limit himself to book keeping. “Eventually, I learned other aspects like engineering, survey works as well as other aspects of road construction,” he recalls. After the completion of that project, he was provided with the overall responsibility of another hydropower project as an in-charge. Impressed with his works, the company later provided him the responsibilities in numerous other projects. </div> <div> </div> <div> “While working for these projects, I had gained a lot of experience and also had an insight of the construction business.” he shares. Life was about to open a new door for him, and he was struck with an idea to open his own construction company. “When I shared my interest to come up with my own company with the Managing Director Manohari Lal Mittal, he was very affirmative about the idea and encouraged me to pursue what I dreamt of,” he says and adds, “he did not only encourage with his words but also provided me with a seed fund of Rs 50,000.”</div> <div> </div> <div> With this capital, he registered his own company Swochhanda Constuction Pvt Ltd in 1989. It did not take him much to speed up the business after establishing his own venture. After the launch of his own company, he never looked back. The first project his company undertook was an irrigation project in Parsa worth Rs 300,000. Till date, he has completed many projects worth billions of rupees, most of them as a sub-contractor for international companies like Japan’s Obayashi Corporation and Chinese CWE Company. He says he has been able to win hearts of these international companies, thereby earning accreditation for his company as one of the ‘best’ in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Personal Nature</strong></span></div> <div> Youngest among five sisters and brothers, Lamichhane did not get a privilege to go to college owing to the poor economic condition. However, he did not let his interest of studying die. Though he had dropped school while he was in grade 8, he rejoined it later realizing that he should continue his study at any cost. </div> <div> </div> <div> An introvert during his childhood, his family friends and relatives mistakenly thought him to be arrogant. Today, Lamichhane has much changed and is quite an outspoken person. “I was determined to achieve whatever I strived for, and that included my personal aspects as well,” he says. Since he did not grow up in a well-off family, he rarely had time to hang out with his friends. “I realised from my early childhood that I had to manage the finances myself, and I always felt that I had to stand on my own feet. Owing to my financial problems, I never get a chance and time to truly enjoy my childhood,” says Lamichhane.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>“Nobody to guide”</strong></span></div> <div> Behind every successful person, there is somebody whose support becomes instrumental for him. Family, teacher or a mentor, among others, are usually there to push a person forward towards his life goals. However, it was not the case for Lamichhane. “I was not lucky enough to have such an opportunity. Whatever I met with in my directionless journey, I had to utilize and adopt it on my own as a career,” says Lamichhane. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sustaining Formula</strong></span></div> <div> Lamichhane says that wherever he stands today, it is because of his honesty that he maintained throughout all the situations. “Once I even refused a huge project offered by the Obayashi Corporation because I knew I could not deliver the work on their stipulated deadline,” he shares, and adds, “after I was reluctant to undertake the project, they insisted me to work with them, encouraging me to take the project anyway. They assured me that they will support me in everything to get the project done on time.”</div> <div> </div> <div> He says that he did not shy away from revealing own weaknesses. “The businessmen in Nepal tend to conceal their pitfalls, but I have always tried to be honest,” says Lamichhane. He respects the value of labour very much. “Be it in a single grain that I eat or a single cup of tea that I sip, there is a value of labour attached with it,” he notes. </div> <div> </div> <div> He gives the labourers very big credit behind his success in business. “For me, I come only after the labourers, who always put their efforts and hard work for the success of any project,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Bad Bidding</strong></span></div> <div> As a businessman who has spent almost three decades in the construction business, Lamichhane strongly criticizes the tender bidding process of Nepal. The contractors are often accused of employing muscle power and goons for getting the contract in their hands. However, he denies it as a problem. The overall problem emanates from the flawed tender bidding process and the related law, he claims. “The tender bidding process neither bodes well to the contractor nor to the beneficiaries. The contractors have to compromise on the quality of the construction as the lowest bidder is awarded with the project,” he argues. Frustrated with the lengthy, complicated and flawed process of the tender bidding of the government projects, he underlines the need of overhaul in the bidding process. “Else the country and people will have to suffer from the substandard delivery of the projects,” he warns.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Hobbies and Family </strong></span></div> <div> Humming songs alone, watching comedy shows and spending times with family are his hobbies. When overloaded and stressed with work, he meditates, and loves to do so in secluded and tranquil location of Dakshinkali. “To get rid from the hustle bustle of the city, I sneak to Dakshinkali alone for 2/3 hours to meditate, sometimes even at 10 in the night,” he reveals. </div> <div> </div> <div> He has three children who are in school. As he is not able to give much time to his family on weekdays, he manages a day in a week for them. “My children understand me and are happy with their dad’s works,” he shares. Lately, travelling and enjoying the natural beauty has become his pastime. He has been to 56 districts of Nepal and also to more than 25 countries. Out of all the countries he has been to, he loves Japan the best while he never gets tired of going to Kulekhani and Daman in Nepal.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Entrepreneurship Essence </strong></span></div> <div> Years of Unwavering walks have landed Lamichhane in his current position. He didn’t have any concrete plans when he started. He, however, advises the aspiring entrepreneurs to think ahead in future and weigh the profitability of the business they want. “Never compromise in quality in what you do, and always maintain honesty, regardless of the circumstance. Stick to the deadlines, and always delivered the promised quality. You should be accountable for these two aspects,” he cautions. For him, success is seen as what grows after sowing in the barren land. He advises to new generation: “Always sow better seeds so that the coming generation would always remember you while reaping and rejoicing the benefits of it.” </div> </div> <p> </p>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come.', 'sortorder' => '1912', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2063', 'article_category_id' => '42', 'title' => 'Stagnant Market Ahead Of Earning Reports', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.</div> <div> </div> <div> Investors await the report on earnings from different banking and financial institutions which have driven the index for most of the time. The Standard Chartered Bank Nepal has declared 10 per cent bonus share and 40 per cent cash dividend; Nabil Bank has announced a 40 per cent cash and 25 per cent bonus share; Nepal SBI Bank decided to propose 12.5 per cent bonus share and 7.5 per cent cash dividend while other institutions are also in row to declare their earnings’ announcements. </div> <div> </div> <div> Profit booking has also been noticed in a few sessions after the escalation of the market. Investors rush to secure their profit with a steady market growth and also heed dividend giving stocks and settle with those less attractive or with no returns. </div> <div> </div> <div> As investors intensify their expectations, the deceleration of the earning for the fiscal year 2069/70 will guide the market move ahead of Dasain. </div> <div> </div> <div> Performance by Sector</div> <div> Following previous trends, the insurance sector added 125.34 points or 9.31 per cent to rest at 1346.57. The hydropower sector moved higher by 86.45 points or 6.66 per cent to 1298.23 while the hotels sector gained 32.63 points to reach 704.49. The commercial banking sector, however, plunged by 9.69 points or 1.84 per cent to rest at 526.29. The ‘Others’ sector with the heavy scrip of Nepal Telecom descended 4.70 points to 661.46 whereas the development bank sector went down by 2.69 points to 277.46. </div> <div> </div> <div> The sensitive index that measure the performance of 120 blue chips at secondary market plummeted by 4.24 points or 3.21 per cent to 132.18. However, the float index calculated on the basis of real transactions ascended by 0.52 points or 1.33 per cent to 39.02. A total of Rs. 3,580,221,388 turnover was realized during the review period from 11101443 units of shares traded via 39,607 transactions.</div> <div> </div> <div> The accompanying figure depicts the sector-wise distribution based on total volume of trade. Commercial banks dominated the total volume of trade with 64.27 per cent holdings. Development banks covered 13.98 per cent, the insurance sector accounted for 12.08 points and the rest of the sectors made up for the remaining.</div> <div> </div> <div> Technically, the Simple Moving Average (SMA) has dominated both short term and long term SMA. However, narrowing down of the index suggests a few sideway movements for upcoming sessions. </div> <div> </div> <div> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> </div> <div> <img alt="" src="/userfiles/images/sctrl.jpg" style="width: 550px; height: 230px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.', 'sortorder' => '1911', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2062', 'article_category_id' => '39', 'title' => 'The Story Of The "Best Managed Company"', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Vijay Shrestha" src="/userfiles/images/vs%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Vijay Shrestha</strong></div> <div> Group Executive Director</div> <div> Yeti Airlines</div> </div> </td> </tr> </tbody> </table> <div> Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.</div> <div> </div> <div> Vijay Shrestha, Group Executive Director of Yeti Airlines, says the company is the market leader in rural destinations and mountain flights. The company has stood strong as a partner in transportation of local and foreign passengers, goods and transfer of tools, and equipment for development work in remote corners of Nepal. Along with this, the company has a strong foothold in services targeted at city airports.</div> <div> </div> <div> Shrestha believes that the current range of products and services offered to all three ecological regions would help the company grow. “Both organisational and individual passengers, travel agents and development organisations will eventually come to us as we have services offered to both rural as well as the urban destinations in the hills and plains. These services and clients are critical for our growth,” he explains. The unique blend of services the company provides, the commitment of stakeholders and a strong management has put the company ahead of its competitors. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Unique Management Practices</strong></span></div> <div> Shrestha is of the opinion that competition in the airlines industry lies in value offerings rather than product and service offerings. The company has its own unique management practice along with the largest nationwide network of domestic flights that gives it an edge above others. Shrestha explains that clients who have to go to Humla, Pokhara, Darjeeling, Sikkim, Lukla, Lucknow or any other destination, can count on Yeti Airlines as it has flights to these places or to a nearest place.</div> <div> </div> <div> The company has also made flight safety a top priority. “Compared to other airlines, we have invested heavily in flight safety and flight management system. We are in a leading position when it comes to safety management,” Shrestha says. He further says that the company has put a lot of resources in technologies such as ticket booking systems and management information systems. </div> <div> </div> <div> The company has made on-time flight its unique selling point. Shrestha says that this initiative has helped the company add value to its services and brand recognition. “We have always prioritised timely flights. We prefer flying few minutes earlier than being late. This is one of the most crucial values we are offering to guarantee convenience to our clients,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>A Synergy of Two Brands</strong></span></div> <div> The company claims that the market coverage by both Yeti and Tara Air is probably the widest among domestic players. According to Shrestha, the company has around 35 per cent market share in city airports and around 65 per cent in rural destinations though the market share keeps fluctuating depending on various market situations. </div> <div> </div> <div> Tara and Yeti have been complementing services and coverage with a fleet size of 14 aircrafts. Shrestha says that the customer base and nature of services has determined the creation of two different brands rather than a single brand operating in both rural and urban destinations. Tara has been operating in rural destinations in hilly and mountainous regions since 2009 with a fleet of six STOL aircrafts.</div> <div> </div> <div> The weather condition and quality of airports play a crucial role when it comes to making flight decisions in hill airports but airlines can make decisions easier in city airports. Similarly, the nature of passengers and clients is different in the areas where Tara operates. Shrestha adds that the variety in types and needs of customers, services and markets have led to the operation of two airlines under different brands. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Group Management</strong></span></div> <div> The Yeti Group is a large business conglomerate working in the tourism and aviation industry with one and a half dozen companies. The group also owns KK Super Mart Nepal, a chain of convenience stores. The management of each of these companies is highly decentralised and each company functions independently. Hotels, resorts, lodges, trekking and travel companies and airlines operate on their own though strategic unity is maintained among them. “Operation of these businesses is largely decentralised and where possible, we try to synergise the marketing,” says Shrestha. The group has also been promoting its travel companies locally. </div> <div> </div> <div> The group also decentralises its human resource management. Its aviation companies employ 800 personnel while the entire group employs a total of 1500 people. According to Shrestha, the company has been able to maintain a high rate of staff retention with its policy of prioritising employee welfare, motivation and creating a professional and friendly working environment. While the aviation industry ails from a lack of skilled technical workforce, the Yeti group is known to not face any shortage in technical human resource.</div> <div> </div> <div> Though the group’s companies are performing well in their respective sectors, the group has not pursued organised branding. Instead, each company and subsidiary has its own brand recognition and is not marketed as a subsidiary of the group. Shrestha hints that organised branding is in the pipeline.</div> <div> </div> <div> <img alt="Yeti Airlines Hangar" src="/userfiles/images/cf1%20(Copy)(1).jpg" style="width: 550px; height: 347px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Future Moves</strong></span></div> <div> The group is planning to come up with new resorts and lodges in Chitwan and Yeti Airlines plans to consolidate value offerings to its customers. The company is dedicated to take its services to new heights by consolidating services in the urban sector. “Our aim is to develop the tourism and aviation industry for the development of the country. Mountain transport and mountain tourism cannot be imagined in the absence of Tara Air and Yeti Airlines. When the services offered are beneficial to the country and people at large, the company will always prioritise on them and strive to make them better.”</div> <div> </div> <div> The company has not decided against reviving flights from its former international carrier - Yeti International. The international carrier was closed down after its joint venture partner Air Arabia withdrew support. Shrestha says that as the company is dedicated to move ahead in the aviation business, there is a possibility of its revival, though there are not fresh tie-ups being made at the moment.</div> <div> </div> <div> <strong style="font-size: 14px;">CSR</strong></div> <div> The airline has been involved in corporate social responsibilities (CSR) since the establishment of the company. The company has been involved in health, social empowerment and education sectors through financial contributions and direct involvement in social works. </div> <div> </div> <div> As a part of CSR, Yeti Airlines donates Rs 4 per flight ticket to four social organisations namely United Mission to Nepal, Save the Children, Habitat for Humanity and Care Nepal. The company has also provided financial support to various social organisations such as Tewa, OCCED, Maiti Nepal, Nepal Leprosy Relief, Nepal Glaucoma Eye Clinic (Tilganga), Sewa Kendra Leprosy, Helpless Children Welfare Mission, Spinal Injury Rehabilitation Centre, Women for Human Rights, CWIN Nepal and the Centre for Victims of Torture (CVICT). </div> <div> </div> <div> The airline has also launched the ‘Green Far West Project’ Kailali, Doti, Rajpur and Kanchapur districts for plantation of appropriate tree saplings in chosen community forests.</div> <div> </div> <div> Recently, the company took 18 orphans of Bal Mandir to a mountain flight on the occasion of National Children’s Day and the airlines’ 15th anniversary.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.', 'sortorder' => '1910', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2059', 'article_category_id' => '160', 'title' => 'Corptoon Vol3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Corptoon', 'sortorder' => '1909', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2060', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Visual Edit', 'sortorder' => '1908', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2078', 'article_category_id' => '34', 'title' => 'Hydropower News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Korean Company to Bring Light in Rasuwa</strong></span></div> <div> The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and drilling and drifting works, company registration, financial arrangement of equity capital have been made, says the company.</div> <div> </div> <div> Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share, which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. </div> <div> </div> <div> The International Finance Corporation (IFC) has joined as a co- developer for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. </div> <div> </div> <div> We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. </div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019.', 'sortorder' => '1923', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2077', 'article_category_id' => '34', 'title' => 'Tourism News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Soaltee Crowne Plaza wins Today's Traveller Award</strong></span></div> <div> <img alt="Today's Traveller Award" src="/userfiles/images/bn4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 265px;" />Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. </div> <div> </div> <div> Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. </div> <div> </div> <div> Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.</div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Nepal Wins Best Print Promotion in TTF2013</strong></span></div> <div> Nepal Tourism Board (NTB) has bagged the ‘Best Print Promotion’ award in Travel and Tourism Fair (TTF) 2013 at Ahmedabad, India. According to a press statement from NTB, the award was attributed to the excellent combination of content and substance of the Nepali stall in the Fair. NTB participated in the fair in Ahmedabad, Gujurat from 16-18 August 2013 with the aim of increasing awareness and educating Indian travellers on Nepal's tourism products and offerings targeting upcoming season of Dashara and Puja Holidays in Gujurat.</div> <div> </div> <div> The three day fair attracted more than 20000 visitors. 100 stalls featuring a dozen Indian states along with destination countries Nepal, Thailand and Malaysia were present the fair. Commemorating this year as Mount Everest Diamond Jubilee Celebrations, Nepal was marketed as an ultimate adventure destination. According to the statement, Indian adventure enthusiasts are seen exploring various adventure travel options in recent days. NTB and the participating company from Nepal like Yeti Airlines Domestic, Monterosa Treks and Expedition, Nepal Holiday Maker Tours and Travel and Fishtail Tours and Travels among others engaged in both B2B and B2C promotion during the fair.Pilgrimage, Leisure, Soft Adventure Activities and Muktinath pilgrimage tour drew special attractions.</div> <div> </div> <div> India is the most significant market for the Nepalese tourism industry with approximately 1/3rd total market share. In 2012, Nepal received 165,815 tourists from India by air which is 20.6 per cent increase as compared to 2011. In the period of Jan- July 2013 itself, Nepal received 89,500 tourists from India.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>August Sees Increase in International Tourist Arrivals</strong></span></div> <div> <img alt="Tourist in Nepal" src="/userfiles/images/bn5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 225px;" />The figures released by Immigration Office, Tribhuvan International Airport (TIA) revealed that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34 per cent to 47,397. </div> <div> </div> <div> In aggregate, the South Asian segment has registered positive growth of 10 per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64 per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and 73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. </div> <div> </div> <div> An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent respectively compared to the same month last year. </div> <div> </div> <div> Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.</div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel', 'sortorder' => '1922', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2076', 'article_category_id' => '34', 'title' => 'Money News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 16px;">157.8 Million Shares Listed in NEPSE</strong></div> <div> Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.</div> <div> </div> <div> Securities Board of Nepal (SEBON) grants share issuance permits for a total of Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO of Rs 3.51 billion to 23 companies, right shares of Rs 3.94 billion to 5 companies, bonus shares of Rs 4.60 billion to 52 companies and bond issuance of Rs 3.15 billion to 7 companies. </div> <div> </div> <div> <strong>Market Size Increased by 40pc</strong></div> <div> Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-13. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011- 2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-13. </div> <div> </div> <div> According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies as well as rise in the number of shares listed and number of investors within this year. He also said the operation of essential infrastructures like CDS & Clearing and mutual funds also helped to increase the market size. Poudyal added, “The number of investors is also increasing lately.</div> <div> </div> <div> <strong>Transaction Amount Doubled</strong></div> <div> The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-12. The share transaction was of Rs 10.27 billion in FY 2011-12 which reached Rs 22.4 billion in FY 2012-13.</div> <div> </div> <div> <strong>Listed Companies 230</strong></div> <div> The number of listed companiesby the end of fiscal year 2012-13 has reached 230. Among the listed companies, 198 are banks and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 trading organisations, 4 hydropower companies and 2 others. There were 216 listed companies in FY 2011-12.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.', 'sortorder' => '1921', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2075', 'article_category_id' => '34', 'title' => 'Corporate News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>TeliaSonera to Sell Hello Mobile Shares</strong></span></div> <div> <img alt="Hello Nepal" src="/userfiles/images/bn2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 104px;" />TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. In a press statement issued on September 11, TeliaSonera informed that they are going to sell the shares to an American company Zhodar Investment, which is based in British Virgin Islands. The selling process of the shares will be completed within a month, reads the press release. </div> <div> </div> <div> “Over the past year, uncertainty regarding regulatory and legal environment for consolidation and granting of licenses in Nepal has increased. Pursuing an acquisition of Nepal Satellite is therefore not possible for regulatory reasons,” the statement read. </div> <div> </div> <div> TeliaSonera, had incurred a loss of nearly 400 million Swedish Kronor, which is approximately Rs 6.19 billion.</div> <div> </div> <div> The company has said that the agreement will enable it to concentrate on Ncell, which reduces the business risk and complexity of its total involvement in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Food Drinks and Hospitality Expo Concludes</strong></span></div> <div> <img alt="Food Expo" src="/userfiles/images/bn3%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 138px;" />The Seagram’s Royal Stag Food Drinks & Hospitality Exhibition 2013 concluded on September 22. The Exhibition 2013 hosted 122 exhibitors, 3 thematic pavilions, 5 special events and showcased various products and services of the food, beverage and hospitality industry.</div> <div> </div> <div> According to the organisers, the exhibition was visited by a total of 45840 visitors of which 9840 were business visitors and 36000 consumers. </div> <div> </div> <div> The American Franchise Pavilion, Hospitality Education Mart, Morde Master Baker Challenge, Monin Best Bartender Contest, Master Chef Challenge were some of the attractions of the expo.</div> <div> </div> <div> The exhibition was organized by House of Rajkarnicar Exhibitions & Events in recognition of the tremendous growth in the sector. </div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. I', 'sortorder' => '1920', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2074', 'article_category_id' => '34', 'title' => 'Banking News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>NRB Urges to Keep Currency Notes Clean </strong></span></div> <div> <img alt="Nepali Note" src="/userfiles/images/bn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 120px;" />Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives. </div> <div> </div> <div> Speaking at an interaction programme organised at the office of New Business Age Pvt Ltd on September 15, NRB spokesperson Bhaskar Mani Gyawali made such a request. “We are distributing new banknotes this year too, so I would like to request one and all to help us in keeping the notes clean,” he said, adding that the citizens are also responsible to keep the notes that are national property, clean. </div> <div> </div> <div> The NRB has started distributing new and crisp notes worth Rs 30 billion aiming to meet high demand during the festivals. The designs of banknotes of Rs 100, 50 and 20 have been changed in the new lot to make it visually-impaired friendly.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>NRB Refutes Deadline Extension Reports </strong></span></div> <div> <img alt="Nepal Rastra Bank" src="/userfiles/images/bn1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 185px;" />Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). Reacting a news report claiming that it had extended the deadline, NRB spokesperson Bhaskarmani Gyawali said . “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013- 14 if approved by the NRB could be counted on the paid-up capital.” Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives.', 'sortorder' => '1919', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2049', 'article_category_id' => '198', 'title' => 'The Legendary Bakers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Bhawani Timilsina</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Bijay Paudel, Sales Manager, Krishna Pauroti Pvt Ltd" src="/userfiles/images/bp%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 207px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Bijay Paudel</strong></div> <div> <em>Sales Manager</em></div> <div> <em>Krishna Pauroti Pvt Ltd</em></div> </div> </td> </tr> </tbody> </table> <div> Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality. Krishna Pauroti since its establishment six decades earlier has now become synonymous to the industry itself, Bijay Paudel sales manager at the Krishna Pauroti Pvt Ltd said. Krishna Bahadur Rajkarnikar, the pioneer of bakery in Nepal, established the bakery in 1948 following his arrival from India, Paudel said adding the baker had “introduced loaf and cakes for the first time in Nepal.” During a visit to India, Krishna Bahadur Rajkarnikar was influenced by a famous English bakery named Firpo. Upon his return to Nepal he started bakery business. </div> <div> </div> <div> Krishna Loaf is renowned in the bakery industry for its quality and has been a benchmark for quality for many bakers. It is one of the first loaf of bread that Nepalis came across, before that roti was the only household thing to eat. </div> <div> Down the years, the bakery has latest bakery equipments but it was not so in the beginning. “It was handmade affair in the beginning. Tough various international technologies had been entered in the recent time,” Bijay said adding, “Consumer’s taste keeps on changing. It is necessary to put out a bigger selection for the consumers.” </div> <div> </div> <div> The legendary bakery firm has set itself apart from other bakers in terms of packaging, product quality and ingredients. Though the bakery has not launched any ad campaigns, the company is preparing to develop and advertise its products in media in the days ahead. “We are planning to make strategy in this regard in the near future,” he said while conceding that “Bakeries rarely invest in advertisement “.</div> <div> </div> <div> “Being a legendary bakery we have been striving to manufacture bakery products that have superior quality.” “Consumers now are becoming very conscious about brand and quality. It encourages us even further to maintain quality, “he says. “The bakery has been constantly planning to improve and upgrade quality. We have been trying to embrace the latest technology.”</div> <div> </div> <div> Bakery product consumers are growing. And this growth has brought in customers with varied taste. Paudel elaborated that considering the popularity of the brand, it is imperative for them to offer wide ranges of bakery products that confirm to the quality standards, taste and expenditures of our customers. “Growing preferences of consumers has played a great role for the increasing popularity of the bakery items, “he adds. </div> <div> </div> <div> Not only customers, he claims that the brand has inspired many others to join the industry and contribute in expanding it. Bakery items like bread, patties, black forest, fresh snacks, rolls, cakes, pies and other pastry products are becoming popular among different groups of people. “The number of bakery products consumer is growing by the day” Paudel added informing that presently the bakery produces more than hundred bakery products that are equally popular among its customers. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-12', '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' => 'Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality.', 'sortorder' => '1917', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2068', 'article_category_id' => '38', 'title' => 'Best Ways To Retain Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year. </div> <div> </div> <div> Employees leave organizations for different reasons. Some find a different job, continue higher studies, and some move away due to family problems. Others retire, quit on impulse due to dissatisfaction about something, or never intended to work after earning a certain amount of money. People also get fired or laid off and decide they no longer need a job. Some may also want to start a new venture.</div> <div> </div> <div> An individual will stay with an organization as long as the incentive it offers (such as satisfactory pay, good working conditions, and developmental opportunities) are equal to or greater than their time and effort. Although some individuals may quit a job on impulse, most people who leave spend time evaluating their current job against possible alternatives, developing intentions about what to do, and engage in job hunts. All of these examples represent a turnover and they don’t all have the same organizational implications. Thus, turnover can be voluntary, involuntary, functional, dysfunctional, avoidable and unavoidable.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Employees Stay </strong></span></div> <div> As employees participate in their professional and community life, they develop a web of connections and relationships on and off the job. Leaving a job would require severing or rearranging these connections. Employees who have many connections are more embedded, and thus have numerous reasons to stay in an organization.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Factors of retention</strong></span></div> <div> Challenging and meaningful work, opportunities to learn and grow, the sense of being part of a group or team, and having a good boss are four primary ways to retain employees, though the first three ways are basically influenced by the boss.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Challenging, Meaningful and Transparent Work</strong></span></div> <div> Exciting, challenging and meaningful work that makes a difference is the most important factor in job satisfaction. If one is going to spend a great deal of one’s life doing something, it at least should have some interest and some meaning or purpose. Also, an organization should prepare a platform where employees feels rewarded and attracted to go to office daily. The management also has to maintain transparency in terms of vision, mission, goals, objectives, implementation strategies, and policies in order to make a job meaningful and challenging.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Opportunities to Learn and Grow</strong></span></div> <div> Clear career growth, learning, and development are three of the top reasons that people stay in their current jobs.</div> <div> A good boss provides opportunities for learning, challenges, and growth on the job that match the employee’s abilities and aspirations. He or she encourages employees to improve the work as well as their skills and to keep up with the latest developments in their field as well as facilities for providing formal and informal learning opportunities. Employees should also be encouraged to network, to join trade and professional associations and to read publications related to their line of work.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sense of Being Part of a Group or Team</strong></span></div> <div> Working with great people, being a part of a team, and having fun on the job are some important factors in job satisfaction. Even a department, section, or division can feel like a team if the manager and employees treat each other with courtesy and respect, listen to one another’s ideas, recognize and celebrate each other’s accomplishments, and work toward common goals. Of course, every team or work group can benefit from training in areas such as communication, group development, decision making and conflict resolution. It is the manager’s responsibility to provide the work group members or team members with the tools and resources to work well together. It is the group’s responsibility to utilize them well. This contributes in building a feeling of organization citizenship.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Good Boss as a mentor, facilitator & visionary leader</strong></span></div> <div> Rudeness, impatience, arrogance, intimidation, yelling, being condescending, embarrassing people, swearing, telling lies, sexual harassment, using inappropriate humour and demonstrating sexism or racism will not earn the loyalty or respect of employees. Besides, behaviour such as failing to solicit and listen to employee input, failing to recognize employees’ accomplishments, withholding praise, giving only negative feedback, taking credit for others’ accomplishments or ideas, blaming others for one’s own mistakes, betraying, micromanaging, withholding critical information, showing distrust, showing favouritism, setting unrealistic goals or deadlines, and failing to help good performers grow in their career in the hope of holding onto them are equally harmful to good boss- employee relations which encourages employees to leave. Satisfied employees report that their managers are good role models and demonstrate inspiring leadership. They communicate well and often, they are trustworthy and supportive. They help to create a sense of purpose in the work, and they encourage employee growth and career development. Also, a boss should be up to date with the latest ideas in order to cope and balance new entrants who bring new vibrations in the organization. In short, for managing a talent, a boss should be a talented person first. The word ‘boss’ itself needs to be transformed to ‘mentor’, ‘facilitator’ and a ‘visionary leader’.</div> <div> </div> <div> Besides these primary factors, there are a number of others that influence employee retention, such as competitive benefit packages that fit employees’ and industries’ needs, stay and exit interviews and application of their outcomes at the strategic level, open communication between employees and management, and communicating clear expectations to employees.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year.', 'sortorder' => '1916', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2020', 'article_category_id' => '122', 'title' => 'MS Group: From Manufacturing To Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Shashi Kant Agarwal, Managing Director, MS Group" src="/userfiles/images/ssk.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Shashi Kant Agarwal</strong></div> <div> <em>Managing Director, MS Group</em></div> </div> </td> </tr> </tbody> </table> <div> Travel and tourism does not lure someone merely by its entertaining and fun experiences. Entrepreneurs are lured to this industry because of its lucrative business prospects that are believed to be growing in Nepal. MS (Maliram Shivkumar) Group is one of the latest national manufacturing houses to join this niche. It has decided to venture into the tourism industry by establishing luxury hotels in a tie-up with Marriot International- an US based international hotel chain.</div> <div> </div> <div> Nepal Hospitality Group Pvt. Ltd, a subsidiary of the MS conglomerate reached an agreement with Marriott International to open the Fairfield by Marriott hotel in Thamel, Kathmandu. This business hotel, according to Shashi Kant Agarwal, Managing Director of the group, has an investment of Rs 600 million and informed that its construction has already kicked off.</div> <div> </div> <div> Similarly, a second hotel in Naxal, also under the joint venture partnership with Marriot International is scheduled to start construction immediately after Tihar festivals. Agarwal says that this will be a luxury hotel with 250 rooms. Both of these hotels will be at par with four star hotel standards.</div> <div> </div> <div> These new ventures of the group are the first initiatives towards the tourism industry and are part of the larger plan the group has. Agarwal says, “We have plans to establish hotels across the country. This is the beginning and we have decided to come up with two new hotels at the time as the political situation has shown signs of improvement.” Agarwal, who is also a traveller, says there are numerous tourism potentials in sub-sectors like eco-tourism, adventure tourism and religious tourism. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Transition</strong></span></div> <div> The journey of the MS Group started as a trading house some six decades ago by Shashi Kant Agarwal’s grandfather, Maliram Agarwal. During that time, he had a shop at Indra Chowk in Kathmandu that sold clothes in the palace of Ranas. When the market gradually expanded, Maliram Agarwal started a whole-sale garments store at Jhochhe. Garments were imported from India and supplied to local retailers in the valley districts along with Dhulikhel, Katari, Tandi among others. The founder Agarwal used to walk for weeks to reach these places and sell goods even in credits to local merchants.</div> <div> </div> <div> The local garment business slowly expanded into international trading with the beginning of third country export in Nepal. Agarwals involved in it by exporting jute and textiles. Gradually they started importing motor parts and bearings. Some were consumed in Nepal while majority of them were exported to India.</div> <div> </div> <div> The group had already seen success in the trading business before moving onto the manufacturing sector. An incident during the trading days encouraged Agarwals to venture into a more stable business than trading – into the manufacturing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Initiating Manufacturing </strong></span></div> <div> Agarwal recalls that a ship transporting garments belonging to MS Group along with other traders of Nepal was hijacked near Hong Kong and goods never reached Nepal making a huge loss to the companies. </div> <div> </div> <div> This unfortunate incident made them settle down to a business with marginal risks. Agarwal says, “That incident was a blessing in disguise. In our corporate life-cycle, it inspired us to move towards the manufacturing business.” As a consequence, a hosiery factory was established, although of a small scale. He recollected that the hosiery factory came at a time when the group was counted as one of the leading garment trading concerns in Nepal in terms of turnover and said that the family had decided to establish a cottage industry despite it. </div> <div> </div> <div> The hosiery factory at Battisputali, Kathmandu grew well and was followed by the setting-up of Pashupati Textile factory in Patan. This manufacturing unit produced both cotton and polyester textiles and also dyed them. As the group’s turnover kept growing, it moved into steel manufacturing with Bhagwati Steel Industries in Birgunj. There were no pauses in the expansion drive. The group further established the largest sugar mill Everest Sugar Mill in Mahottari, in partnership with Everest Group. Similarly, Reliance Spinning Mill , that is now a factory that has created highest number of employment- 3400 people including 1500 women, was also established.</div> <div> </div> <div> Since the group moved into the manufacturing sector, it never had to look back. As of now, the group has a total of 10 companies operating in manufacturing, housing and trading business including a couple of them in partnership with other business houses of Nepal. And, these companies register an annual turnover of Rs 12 billion. </div> <div> </div> <div> As a recent expansion to its manufacturing unit, the group is setting up a new large scale sugar mill in Siraha. According to Agarwal, the construction works have commenced and necessary machineries have been imported. He says that the mill will begin crushing in a year’s time. </div> <div> </div> <div> Along with these, the group is promoter in some banks and financial institutions but Agarwal says that the group is not directly involved in them.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Positioning Markets </strong></span></div> <div> As the group is involved in production of diverse products, they cater to a wide range of market and target customers. Most of its steel products are targeted at local market and is purchased for constructing electricity poles, bridges, telephone towers by telecom and electricity companies. Similarly, the group also produces galvanised sheets and pipes for the local market. </div> <div> </div> <div> Likewise, sugar is sold to both bulk buyers and general public. According to Agarwal, Salt Trading, bottlers of Coca-Cola Pepsi, and Frooty, Rio and other beverage manufacturers are regular buyers. Meanwhile, 75 per cent of production of Reliance Spinning Mill is exported and the remaining is consumed within Nepal which accounts to around 50 to 60 per cent market share, claims Agarwal. The foreign markets for its products are mainly India and Turkey.</div> <div> </div> <div> Agarwal says that the housing project of the group did relatively well as it was launched relatively earlier before the market was over flooded. However the bubble burst of the housing and real estate business hit its Subsidiary Sunrise Apartments. He says that the housing still has strong brand strength in the market. </div> <div> </div> <div> Elaborating on the branding needs, he argues that other products such as sugar do not need any branding and aggressive publicity. As the market is mostly the bulk buyers, offering quality would help gain the market share. And added that sugar produced by Everest Sugar and Chemical Industry Ltd has a good recognition in domestic and international market.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <div> <span style="font-size:16px;"><strong>Some Companies under MS Group</strong></span></div> <div> •Reliance Spinning Mills Ltd</div> <div> •Everest Sugar & Chemical Industries Ltd</div> <div> •Sunrise Apartments Pvt Ltd</div> <div> •Bhagwati Soap Industries Pvt Ltd</div> <div> •Bhagwati Carbide Industries Pvt Ltd</div> <div> •Bhagwati Rolling Mills Pvt Ltd</div> <div> •Nepal Hospitality Group Pvt Ltd</div> <div> •Bhagwati Steel Industries Pvt Ltd</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Some Products of MS Group</strong></span></div> <div> •Polyester, Acrylic and Cotton Yarns</div> <div> •Steel</div> <div> •Sugar</div> <div> •Housing and Apartments</div> <div> •Soaps</div> <div> •Partially Oriented Yarn,Polyester Texturised Yarn and Knitted Fabrics</div> <div> •MS torque steel </div> <div> •Dry cell batteries</div> <div> •Galvanised sheets, poles, door/window profiles</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Employment and Management</strong></span></div> <div> According to Shashi Kant Agarwal, the group has provided direct employment to 6000 people including its subsidiaries under the joint venture with other business houses. However, Reliance Spinning Mill alone employs 3500 people. The decentralised management system of each of the companies looks after each and every management responsibilities and daily affairs. He shares that the policy level and financial affairs are only taken care by the central management. The management team is well groomed to take care of everyday activities, marketing, sales and procurements, he added. </div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Activities</strong></span></div> <div> Although the group does not aggressively pitch Corporate Social Responsibilities (CSR) it has subtly carried out such activities, in various forms, in localities where the groups’ factories established. The group has built hospitals, dispensaries, schools, rooms for schools, donated ambulances among others on a regular basis. Agarwal says that his father is a spiritual person and makes constant donations and supports to religious causes. Well known among the Marwari community, his father had donated land worth Rs 20 million to Gaushala recently.</div> </div> </div> </td> </tr> </tbody> </table>', 'published' => true, 'created' => '2013-10-27', 'modified' => '2013-11-12', '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' => 'MS Group started its business journey almost six decades ago as a trading house. During these years the house has not only established itself as a leading manufacturing house, but more recently has also ventured into the tourism industry with major hospitality projects on the cards.', 'sortorder' => '1915', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2061', 'article_category_id' => '150', 'title' => 'Business Briefs (28 October - 3 November)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Micromax Launches Two New Models</strong></span></div> <div> Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor. It has 1 GB of RAM, and has an 8 MP primary camera and 2 MP secondary camera. Canvas Fun comes with Android 4.2.2 Jelly Bean and has a 4.5 inch screen. It is powered by a 1.3 GHz dual core processor and has 512 MB of RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Experience Hyundai’ Organized</strong></span></div> <div> Laxmi InterContinental Pvt Ltd organized an event named ‘Experience Hyundai’ from 24-26 October at its Thapathali showroom. According to the company, the event was organized to provide a platform to experience the entire Hyundai family along with some entertainment. The event featured free car wash, free gift on every test drive, any brand exchange, on spot finance and insurance and a free check up facility for Hyundai vehicles. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Karbonn A5 and A26 Launched</strong></span></div> <div> Allied Trade link International P Ltd, the authorized distributor of Karbonn Mobile launched two new handsets A5 and A26 in the market. A5 has features like Android Gingerbread, dual SIM, 1 GHz processor, 256 MB RAM, 3.2 MP camera and front digital camera among others. A26 comes with features like Android v 4.1, 1.3 GHz dual core processor, 5 inch Screen, Wi-Fi, 2000 mAh battery, 5 MP camera with LED flash, Front Digital camera and 512 MB RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yamaha Scooter Exchange Concludes</strong></span></div> <div> MAW Enterprises organized ‘Yamaha Scooter Exchange Mahamela’ from October 24 to 26 at Bhrikuti Mandap. According to the company, this was the first and biggest event of its kind in Nepal. The event offered exchange of old motorcycles and scooters with Yamaha Ray. There was participation of more than 10 dealers and over 40 re-condition houses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ford Focus Best Selling Vehicle Globally</strong></span></div> <div> Ford Focus has maintained its leadership as the best-selling vehicle nameplate globally, based on Ford analysis of the latest Polk global vehicle registration data for the first half of 2013. Globally, Focus is up 20 per cent in the first half of 2013 as compared with the same period last year. Also, Ford Fiesta ranks as the fourth best-selling vehicle overall, and is the world’s best-selling subcompact vehicle through June 2013. Ford is the only brand with two nameplates among the global top five best-sellers.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor.', 'sortorder' => '1914', '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' => '2065', 'article_category_id' => '37', 'title' => 'Nepali Federalism From Economic Perspective In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Dr Chandra Mani Adhikari</strong></div> <div> </div> <div> There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance.</div> <div> </div> <div> A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.</div> <div> </div> <div> The date of election has been set and the Election Commission is working within a given framework. But issue and essence require more debate while it is also urgent to have constitution.</div> <div> </div> <div> In this regard, some observations on the basis of the international experience and national reality are pertinent. The state’s structure can be divided into three systems. One is related to formation of the government. The second is defined power of the government whereas the third is the mechanism to serve the grassroots. The federal system has been developed since 17th century.</div> <div> </div> <div> The unitary form of governance was implemented after the First World War which didn’t work properly in practice. Regarding the forms, the main question regarding the federal or unitary system is motive of separation of rights for balancing different levels of the government.</div> <div> </div> <div> In some federal countries, the center seems more powerful in others the states are more powerful. In principle, federalism is the system of self-governance by the state based on rule-of-law. Thus, federal system would not be meaningful in undemocratic environment.</div> <div> </div> <div> Nepal is already a federal republic, if we go only by the Interim Constitution of Nepal. But in practice, it is still to be federal. Many questions such as those related to the structure of the state, basis of restructuring, methodology of building the federal nation, the form of government, election system and judicial system are still unanswered. Moreover, there is still no consensus on the issues of culture, geography, economic resources, population, infrastructure, level of social understanding and nature resources that a state needs to have to qualify to be a federal state.</div> <div> </div> <div> Other hot topics for discussion are the number of federal states, their geographical border and authorities of the legislative and executive bodies of the federal states.</div> <div> </div> <div> <img alt="" src="/userfiles/images/epn1%20(Copy).jpg" style="width: 550px; height: 252px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Two best examples of successful federalism are Switzerland and USA where many smaller nations tied up into the confederation. However, in USA the confederation was not working properly in the beginning. So, in 1781, USA declared the Federal Constitution with relatively more power to the center.</div> <div> </div> <div> After 50 years of experience with its own style of federalism, Switzerland too issued American model constitution in 1848 that aimed to enhance cooperation among the states. Germany introduced cooperative base federal constitution in 1871 and Belgium, France, Spain and South Africa followed it. Some countries like Bosnia and Herzegovina, Ethiopia, Congo and Iraq entered into federal system with background of conflict and other historical accords.</div> <div> </div> <div> On some instances, economic disparity, religious differences and geographical differences too have led to federalism. Canada is one such example.</div> <div> </div> <div> Nepal declared itself a federal state after people’s movement. And there are various reasons and logic behind the Nepali federalism. These include safety to the local community from encroachment of outsiders, institutionalization of democracy and making the state more inclusive. But what is happening (and has happened) in Nepal is different than the global experience.</div> <div> </div> <div> Nepal’s need is to end all sort of social and economic disparities by ensuring a conducing economic and political infrastructure through a political and constitutional consensus, using federalism as an instrument. In this context, it’s irrelevant to ask whether the state should be restructured on ethnic lines. Lengthy debate on the question whether the states should be based on single ethnicity or multi-ethnicity identification has proved futile.</div> <div> </div> <div> To make federalism successful in its objectives, we should scrutinize the real challenges and potentials, which are directly related to state restructuring. These include Nepali ethnicity management (with a goal of transforming current Nepali society into socially-economically and politically prosperous future) geographical balance and finding an optimum in terms of types, name, levels, numbers and size of federal and state governments. Also challenging is the question of whether optimization can be achieved with identification of appropriate determinants like population, geography and some other context.</div> <div> </div> <div> Among such contexts, the distribution of resources plays a prominent role. This is related with the need divide and assign the economic and revenue rights — PROPERLY — between the governments where resources can be mobilised in right proportion through (double, united or moderate) mechanism. This may require establishing a new set of institutions to run the system. The total size of the national budget will grow as each state will have its own government-legislature, chief minister and ministers and so on. We need consensus to determine a manageable size for all these. </div> <div> </div> <div> While determining the size and number of the provinces, presently available physical and economic resources, density of population, geographical area, level of technology, means of transportation etc should be considered. Another prominent reality to be accepted is the beauty of diversity. The Mountains, hills and the plains — these three geographical regions are interdependent; however all aspects of such dependencies are not measurable economically.</div> <div> </div> <div> The strength of the Hills is water as well as some other natural resources and high possibility of tourism industry. Whereas the strength of the Terai lie in the vast fertile land, urbanization, dense population and more economic activities.</div> <div> </div> <div> However, these factors may change in the future for example; migration may change the demographic structure. In this context, all the political parties and the policy makers need to be careful while allocating the economic resources and political rights between the states and the centre.</div> <div> </div> <div> In conclusion, striking a balance between the economy, politics and social aspirations of people is needed to design an optimum form of federalism. It is really the responsibility of present leadership to work for the next generation for a better and prosperous Nepal.</div> <div> </div> <div> <em>(Writer is an economist and also chairman of National Council for Economic and Development Research (NAREC Nepal)</em></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance. A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.', 'sortorder' => '1913', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2064', 'article_category_id' => '47', 'title' => 'An Unintentional Journey', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come. </div> <div> </div> <div> With the passage of time, he tried to fit himself in different roles, either merely to make his living, an ambition to earn huge amount money or sheer interest to serve the nation. Whatever he met on the way, he accepted it as a career with making sincere and hard efforts to make it happen.</div> <div> </div> <div> The ambition to earn money has its roots in his early childhood. The deprivation he experienced during his childhood left an indelible imprint in his mind, always compelling him to think about accumulating wealth. However, he says, he never compromised with his ethics and integrity to make money. Born to Late Jibnath Lamichhane and Late Dewaki Lamichhane in a middle-class family in Makwanpur, he had to endure the grief of his father’s demise barely at the age of two. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Multiple identities</strong></span></div> <div> Recently, he has been recommended as a Nepali Congress (NC) candidate for the upcoming Constituent Assembly polls from Makwanpur Constituency-2. He joined the party last month amid a function in Kathmandu, where the party president Sushil Koirala welcomed him by issuing the general membership of the NC. </div> <div> </div> <div> “I joined this democratic party as I want to serve the nation now through politics,” shares Lamichhane. He is in the contract business for more than 25 years. During this period, his company has not only constructed hundreds of bridges, roads and buildings, but also worked as a sub-contractor for the construction projects as far as in India, Japan, Cambodia and Qatar. </div> <div> </div> <div> He is now leading more than 17,000 contractors of the country as a President of FCAN. Apart from that, he is also a Board Member of Nepal Purwardhar Bikash Company Limited (NPBCL), Nepal’s first public limited company building a national toll highway of Asian Highway Standards. The company is in the process of building the Kathmandu-Kulekhani-Hetauda Tunnel Highway (KKHT), a dream project with the 4P initiative (people, public and private partnership). </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Teaching in transition</strong></span></div> <div> After completing his School Leaving Certificate degree from a local school in the Chitlang, Makwanpur, he decided to teach in a school at Kulekhani to make a living instead of going to college. It was while teaching in the school he decided to appear privately in Intermediate degree exams. He was happy for getting a teaching job as he did not need to worry about bread and butter. Yet, he was looking further for ways to make more money. “It was very difficult for me to manage everything with mere Rs 275 per month. So, I was looking for other alternatives,” he shares.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Turning Point</strong></span></div> <div> Once, Lamichhane was returning home from Martung, Kulekhani for his holiday. Incidentally, he met one of his relatives Ram Prasad Lamichhane on the way, who happened to work for Mittal Construction Pvt Ltd in a Devighaat Hydropower project. Lamichhane inquired about job possibility in the company. The relative informed him that the company was looking for someone who could look after the project accounts, and had to be stationed in Dhunche in Rasuwa. </div> <div> </div> <div> Agreeing to work, he went to Kathmandu the next day for the job in the Company. The company offered him Rs 1000 per month for the job. Later, he went to the project site to take up the job of maintaining financial account of the project. However, he did not limit himself to book keeping. “Eventually, I learned other aspects like engineering, survey works as well as other aspects of road construction,” he recalls. After the completion of that project, he was provided with the overall responsibility of another hydropower project as an in-charge. Impressed with his works, the company later provided him the responsibilities in numerous other projects. </div> <div> </div> <div> “While working for these projects, I had gained a lot of experience and also had an insight of the construction business.” he shares. Life was about to open a new door for him, and he was struck with an idea to open his own construction company. “When I shared my interest to come up with my own company with the Managing Director Manohari Lal Mittal, he was very affirmative about the idea and encouraged me to pursue what I dreamt of,” he says and adds, “he did not only encourage with his words but also provided me with a seed fund of Rs 50,000.”</div> <div> </div> <div> With this capital, he registered his own company Swochhanda Constuction Pvt Ltd in 1989. It did not take him much to speed up the business after establishing his own venture. After the launch of his own company, he never looked back. The first project his company undertook was an irrigation project in Parsa worth Rs 300,000. Till date, he has completed many projects worth billions of rupees, most of them as a sub-contractor for international companies like Japan’s Obayashi Corporation and Chinese CWE Company. He says he has been able to win hearts of these international companies, thereby earning accreditation for his company as one of the ‘best’ in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Personal Nature</strong></span></div> <div> Youngest among five sisters and brothers, Lamichhane did not get a privilege to go to college owing to the poor economic condition. However, he did not let his interest of studying die. Though he had dropped school while he was in grade 8, he rejoined it later realizing that he should continue his study at any cost. </div> <div> </div> <div> An introvert during his childhood, his family friends and relatives mistakenly thought him to be arrogant. Today, Lamichhane has much changed and is quite an outspoken person. “I was determined to achieve whatever I strived for, and that included my personal aspects as well,” he says. Since he did not grow up in a well-off family, he rarely had time to hang out with his friends. “I realised from my early childhood that I had to manage the finances myself, and I always felt that I had to stand on my own feet. Owing to my financial problems, I never get a chance and time to truly enjoy my childhood,” says Lamichhane.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>“Nobody to guide”</strong></span></div> <div> Behind every successful person, there is somebody whose support becomes instrumental for him. Family, teacher or a mentor, among others, are usually there to push a person forward towards his life goals. However, it was not the case for Lamichhane. “I was not lucky enough to have such an opportunity. Whatever I met with in my directionless journey, I had to utilize and adopt it on my own as a career,” says Lamichhane. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sustaining Formula</strong></span></div> <div> Lamichhane says that wherever he stands today, it is because of his honesty that he maintained throughout all the situations. “Once I even refused a huge project offered by the Obayashi Corporation because I knew I could not deliver the work on their stipulated deadline,” he shares, and adds, “after I was reluctant to undertake the project, they insisted me to work with them, encouraging me to take the project anyway. They assured me that they will support me in everything to get the project done on time.”</div> <div> </div> <div> He says that he did not shy away from revealing own weaknesses. “The businessmen in Nepal tend to conceal their pitfalls, but I have always tried to be honest,” says Lamichhane. He respects the value of labour very much. “Be it in a single grain that I eat or a single cup of tea that I sip, there is a value of labour attached with it,” he notes. </div> <div> </div> <div> He gives the labourers very big credit behind his success in business. “For me, I come only after the labourers, who always put their efforts and hard work for the success of any project,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Bad Bidding</strong></span></div> <div> As a businessman who has spent almost three decades in the construction business, Lamichhane strongly criticizes the tender bidding process of Nepal. The contractors are often accused of employing muscle power and goons for getting the contract in their hands. However, he denies it as a problem. The overall problem emanates from the flawed tender bidding process and the related law, he claims. “The tender bidding process neither bodes well to the contractor nor to the beneficiaries. The contractors have to compromise on the quality of the construction as the lowest bidder is awarded with the project,” he argues. Frustrated with the lengthy, complicated and flawed process of the tender bidding of the government projects, he underlines the need of overhaul in the bidding process. “Else the country and people will have to suffer from the substandard delivery of the projects,” he warns.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Hobbies and Family </strong></span></div> <div> Humming songs alone, watching comedy shows and spending times with family are his hobbies. When overloaded and stressed with work, he meditates, and loves to do so in secluded and tranquil location of Dakshinkali. “To get rid from the hustle bustle of the city, I sneak to Dakshinkali alone for 2/3 hours to meditate, sometimes even at 10 in the night,” he reveals. </div> <div> </div> <div> He has three children who are in school. As he is not able to give much time to his family on weekdays, he manages a day in a week for them. “My children understand me and are happy with their dad’s works,” he shares. Lately, travelling and enjoying the natural beauty has become his pastime. He has been to 56 districts of Nepal and also to more than 25 countries. Out of all the countries he has been to, he loves Japan the best while he never gets tired of going to Kulekhani and Daman in Nepal.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Entrepreneurship Essence </strong></span></div> <div> Years of Unwavering walks have landed Lamichhane in his current position. He didn’t have any concrete plans when he started. He, however, advises the aspiring entrepreneurs to think ahead in future and weigh the profitability of the business they want. “Never compromise in quality in what you do, and always maintain honesty, regardless of the circumstance. Stick to the deadlines, and always delivered the promised quality. You should be accountable for these two aspects,” he cautions. For him, success is seen as what grows after sowing in the barren land. He advises to new generation: “Always sow better seeds so that the coming generation would always remember you while reaping and rejoicing the benefits of it.” </div> </div> <p> </p>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come.', 'sortorder' => '1912', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2063', 'article_category_id' => '42', 'title' => 'Stagnant Market Ahead Of Earning Reports', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.</div> <div> </div> <div> Investors await the report on earnings from different banking and financial institutions which have driven the index for most of the time. The Standard Chartered Bank Nepal has declared 10 per cent bonus share and 40 per cent cash dividend; Nabil Bank has announced a 40 per cent cash and 25 per cent bonus share; Nepal SBI Bank decided to propose 12.5 per cent bonus share and 7.5 per cent cash dividend while other institutions are also in row to declare their earnings’ announcements. </div> <div> </div> <div> Profit booking has also been noticed in a few sessions after the escalation of the market. Investors rush to secure their profit with a steady market growth and also heed dividend giving stocks and settle with those less attractive or with no returns. </div> <div> </div> <div> As investors intensify their expectations, the deceleration of the earning for the fiscal year 2069/70 will guide the market move ahead of Dasain. </div> <div> </div> <div> Performance by Sector</div> <div> Following previous trends, the insurance sector added 125.34 points or 9.31 per cent to rest at 1346.57. The hydropower sector moved higher by 86.45 points or 6.66 per cent to 1298.23 while the hotels sector gained 32.63 points to reach 704.49. The commercial banking sector, however, plunged by 9.69 points or 1.84 per cent to rest at 526.29. The ‘Others’ sector with the heavy scrip of Nepal Telecom descended 4.70 points to 661.46 whereas the development bank sector went down by 2.69 points to 277.46. </div> <div> </div> <div> The sensitive index that measure the performance of 120 blue chips at secondary market plummeted by 4.24 points or 3.21 per cent to 132.18. However, the float index calculated on the basis of real transactions ascended by 0.52 points or 1.33 per cent to 39.02. A total of Rs. 3,580,221,388 turnover was realized during the review period from 11101443 units of shares traded via 39,607 transactions.</div> <div> </div> <div> The accompanying figure depicts the sector-wise distribution based on total volume of trade. Commercial banks dominated the total volume of trade with 64.27 per cent holdings. Development banks covered 13.98 per cent, the insurance sector accounted for 12.08 points and the rest of the sectors made up for the remaining.</div> <div> </div> <div> Technically, the Simple Moving Average (SMA) has dominated both short term and long term SMA. However, narrowing down of the index suggests a few sideway movements for upcoming sessions. </div> <div> </div> <div> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> </div> <div> <img alt="" src="/userfiles/images/sctrl.jpg" style="width: 550px; height: 230px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.', 'sortorder' => '1911', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2062', 'article_category_id' => '39', 'title' => 'The Story Of The "Best Managed Company"', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Vijay Shrestha" src="/userfiles/images/vs%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Vijay Shrestha</strong></div> <div> Group Executive Director</div> <div> Yeti Airlines</div> </div> </td> </tr> </tbody> </table> <div> Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.</div> <div> </div> <div> Vijay Shrestha, Group Executive Director of Yeti Airlines, says the company is the market leader in rural destinations and mountain flights. The company has stood strong as a partner in transportation of local and foreign passengers, goods and transfer of tools, and equipment for development work in remote corners of Nepal. Along with this, the company has a strong foothold in services targeted at city airports.</div> <div> </div> <div> Shrestha believes that the current range of products and services offered to all three ecological regions would help the company grow. “Both organisational and individual passengers, travel agents and development organisations will eventually come to us as we have services offered to both rural as well as the urban destinations in the hills and plains. These services and clients are critical for our growth,” he explains. The unique blend of services the company provides, the commitment of stakeholders and a strong management has put the company ahead of its competitors. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Unique Management Practices</strong></span></div> <div> Shrestha is of the opinion that competition in the airlines industry lies in value offerings rather than product and service offerings. The company has its own unique management practice along with the largest nationwide network of domestic flights that gives it an edge above others. Shrestha explains that clients who have to go to Humla, Pokhara, Darjeeling, Sikkim, Lukla, Lucknow or any other destination, can count on Yeti Airlines as it has flights to these places or to a nearest place.</div> <div> </div> <div> The company has also made flight safety a top priority. “Compared to other airlines, we have invested heavily in flight safety and flight management system. We are in a leading position when it comes to safety management,” Shrestha says. He further says that the company has put a lot of resources in technologies such as ticket booking systems and management information systems. </div> <div> </div> <div> The company has made on-time flight its unique selling point. Shrestha says that this initiative has helped the company add value to its services and brand recognition. “We have always prioritised timely flights. We prefer flying few minutes earlier than being late. This is one of the most crucial values we are offering to guarantee convenience to our clients,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>A Synergy of Two Brands</strong></span></div> <div> The company claims that the market coverage by both Yeti and Tara Air is probably the widest among domestic players. According to Shrestha, the company has around 35 per cent market share in city airports and around 65 per cent in rural destinations though the market share keeps fluctuating depending on various market situations. </div> <div> </div> <div> Tara and Yeti have been complementing services and coverage with a fleet size of 14 aircrafts. Shrestha says that the customer base and nature of services has determined the creation of two different brands rather than a single brand operating in both rural and urban destinations. Tara has been operating in rural destinations in hilly and mountainous regions since 2009 with a fleet of six STOL aircrafts.</div> <div> </div> <div> The weather condition and quality of airports play a crucial role when it comes to making flight decisions in hill airports but airlines can make decisions easier in city airports. Similarly, the nature of passengers and clients is different in the areas where Tara operates. Shrestha adds that the variety in types and needs of customers, services and markets have led to the operation of two airlines under different brands. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Group Management</strong></span></div> <div> The Yeti Group is a large business conglomerate working in the tourism and aviation industry with one and a half dozen companies. The group also owns KK Super Mart Nepal, a chain of convenience stores. The management of each of these companies is highly decentralised and each company functions independently. Hotels, resorts, lodges, trekking and travel companies and airlines operate on their own though strategic unity is maintained among them. “Operation of these businesses is largely decentralised and where possible, we try to synergise the marketing,” says Shrestha. The group has also been promoting its travel companies locally. </div> <div> </div> <div> The group also decentralises its human resource management. Its aviation companies employ 800 personnel while the entire group employs a total of 1500 people. According to Shrestha, the company has been able to maintain a high rate of staff retention with its policy of prioritising employee welfare, motivation and creating a professional and friendly working environment. While the aviation industry ails from a lack of skilled technical workforce, the Yeti group is known to not face any shortage in technical human resource.</div> <div> </div> <div> Though the group’s companies are performing well in their respective sectors, the group has not pursued organised branding. Instead, each company and subsidiary has its own brand recognition and is not marketed as a subsidiary of the group. Shrestha hints that organised branding is in the pipeline.</div> <div> </div> <div> <img alt="Yeti Airlines Hangar" src="/userfiles/images/cf1%20(Copy)(1).jpg" style="width: 550px; height: 347px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Future Moves</strong></span></div> <div> The group is planning to come up with new resorts and lodges in Chitwan and Yeti Airlines plans to consolidate value offerings to its customers. The company is dedicated to take its services to new heights by consolidating services in the urban sector. “Our aim is to develop the tourism and aviation industry for the development of the country. Mountain transport and mountain tourism cannot be imagined in the absence of Tara Air and Yeti Airlines. When the services offered are beneficial to the country and people at large, the company will always prioritise on them and strive to make them better.”</div> <div> </div> <div> The company has not decided against reviving flights from its former international carrier - Yeti International. The international carrier was closed down after its joint venture partner Air Arabia withdrew support. Shrestha says that as the company is dedicated to move ahead in the aviation business, there is a possibility of its revival, though there are not fresh tie-ups being made at the moment.</div> <div> </div> <div> <strong style="font-size: 14px;">CSR</strong></div> <div> The airline has been involved in corporate social responsibilities (CSR) since the establishment of the company. The company has been involved in health, social empowerment and education sectors through financial contributions and direct involvement in social works. </div> <div> </div> <div> As a part of CSR, Yeti Airlines donates Rs 4 per flight ticket to four social organisations namely United Mission to Nepal, Save the Children, Habitat for Humanity and Care Nepal. The company has also provided financial support to various social organisations such as Tewa, OCCED, Maiti Nepal, Nepal Leprosy Relief, Nepal Glaucoma Eye Clinic (Tilganga), Sewa Kendra Leprosy, Helpless Children Welfare Mission, Spinal Injury Rehabilitation Centre, Women for Human Rights, CWIN Nepal and the Centre for Victims of Torture (CVICT). </div> <div> </div> <div> The airline has also launched the ‘Green Far West Project’ Kailali, Doti, Rajpur and Kanchapur districts for plantation of appropriate tree saplings in chosen community forests.</div> <div> </div> <div> Recently, the company took 18 orphans of Bal Mandir to a mountain flight on the occasion of National Children’s Day and the airlines’ 15th anniversary.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.', 'sortorder' => '1910', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2059', 'article_category_id' => '160', 'title' => 'Corptoon Vol3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Corptoon', 'sortorder' => '1909', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2060', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Visual Edit', 'sortorder' => '1908', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019. The construction of its access road will start within this month and the main project development is expected to begin in December. The Engineering Design and Environment Impact Assessment Report have been already approved by the government authorities and drilling and drifting works, company registration, financial arrangement of equity capital have been made, says the company.</div> <div> </div> <div> Similarly, tree cutting approval has been received and land acquisition has already been done, it adds. “The project, once completed, will help in reducing daily load shedding by three to four hours,” said CEO of NWEDC Kim Kyung Sik. NWEDC is predominantly a South Korean group of three companies with 75 per cent of the total equity share, which includes Korea South East Power Company Ltd (KOSEP), Daelim Industrial Company Ltd, and Kyeryong Construction Industrial Company Ltd. </div> <div> </div> <div> The International Finance Corporation (IFC) has joined as a co- developer for the project while Daelim and Kyerong will be the Engineering, Procurement and Construction (EPC) contractor. The operation and maintenance will be done by KOSEP. Sik said, “This is a reason for hope and optimism in the midst of serious crisis that has debilitating effect on Nepal economy. The project once completed, will help reduce daily load shedding by 3 to 4 hours. </div> <div> </div> <div> We are maintaining a good relation with the local people and with the administration. They are very much interested in the project and we are thankful for their support and cooperation.” The successful completion of the project means technology transfer of operation and management, employment creation of 300 to 500 people for construction, substituting annually diesel imports equivalent to 20 million US dollar and helping grow Nepali economy, he added. The Upper Trishuli-I project will be one of largest hydroelectric power project in Nepal in terms of investment. It will increase existing hydro-electric generation capacity in Nepal by almost one third (216 MW), and will add around 50 per cent (1455 GWh) to the annual electricity generated in Nepal. </div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'The construction of the much awaited 216 MW Upper Trishuli-I hydroelectricity project at Rasuwa district started in September. The US $ 550 million project is promoted by Nepal Water and Energy Development Company Ltd (NWEDC) and will generate 1456GWh of energy per year after its commissioning scheduled in March 2019.', 'sortorder' => '1923', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2077', 'article_category_id' => '34', 'title' => 'Tourism News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>Soaltee Crowne Plaza wins Today's Traveller Award</strong></span></div> <div> <img alt="Today's Traveller Award" src="/userfiles/images/bn4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 200px; height: 265px;" />Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel, and was attended by known personalities from hotel industry, travel trade, airlines and media. Oscar Fernandes, Minister of Road Transport and Highways, Government of India, presented the award to Nalin Mandiratta, General Manager of the hotel. </div> <div> </div> <div> Today's Traveller Award is India's one of the most respected travel and tourism industry awards. The award was incorporated in 2007 with an objective of recognizing exceptional achievers and contributors in the hospitality, travel and tourism industry. </div> <div> </div> <div> Soaltee Crowne Plaza Kathmandu is well known for its state-of-the-art facilities and world class amenities, has received numerous awards and recognition in the past for its excellent services.</div> <div> </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Nepal Wins Best Print Promotion in TTF2013</strong></span></div> <div> Nepal Tourism Board (NTB) has bagged the ‘Best Print Promotion’ award in Travel and Tourism Fair (TTF) 2013 at Ahmedabad, India. According to a press statement from NTB, the award was attributed to the excellent combination of content and substance of the Nepali stall in the Fair. NTB participated in the fair in Ahmedabad, Gujurat from 16-18 August 2013 with the aim of increasing awareness and educating Indian travellers on Nepal's tourism products and offerings targeting upcoming season of Dashara and Puja Holidays in Gujurat.</div> <div> </div> <div> The three day fair attracted more than 20000 visitors. 100 stalls featuring a dozen Indian states along with destination countries Nepal, Thailand and Malaysia were present the fair. Commemorating this year as Mount Everest Diamond Jubilee Celebrations, Nepal was marketed as an ultimate adventure destination. According to the statement, Indian adventure enthusiasts are seen exploring various adventure travel options in recent days. NTB and the participating company from Nepal like Yeti Airlines Domestic, Monterosa Treks and Expedition, Nepal Holiday Maker Tours and Travel and Fishtail Tours and Travels among others engaged in both B2B and B2C promotion during the fair.Pilgrimage, Leisure, Soft Adventure Activities and Muktinath pilgrimage tour drew special attractions.</div> <div> </div> <div> India is the most significant market for the Nepalese tourism industry with approximately 1/3rd total market share. In 2012, Nepal received 165,815 tourists from India by air which is 20.6 per cent increase as compared to 2011. In the period of Jan- July 2013 itself, Nepal received 89,500 tourists from India.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>August Sees Increase in International Tourist Arrivals</strong></span></div> <div> <img alt="Tourist in Nepal" src="/userfiles/images/bn5%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 225px;" />The figures released by Immigration Office, Tribhuvan International Airport (TIA) revealed that visitor arrivals in the month of August 2013, compared to the same month last year, have increased by 6.34 per cent to 47,397. </div> <div> </div> <div> In aggregate, the South Asian segment has registered positive growth of 10 per cent. Arrivals from Bangladesh, Pakistan and Sri Lanka have increased by 83.14 per cent, 36.92 per cent and 59.64 per cent respectively. India which constitutes the major market of Nepal, has recorded negative growth of 1.67 per cent. Arrivals from Asia (other than South Asia) have recorded positive growth of 21.92 per cent in aggregate. The visitor arrivals from China increased by 21.50 per cent compared to the same month last year. Similarly, the arrivals from Japan and Singapore and Malaysia have also increased by 34.54 per cent, 51.66 per cent and 73.89 per cent respectively. However, Thailand saw decline of 8.53 per cent. </div> <div> </div> <div> An overall negative growth of 17.37 per cent has been observed from the European markets. Arrivals from markets such as the UK, Germany, and France are up by 2.22 per cent, 10.38 per cent, and 2.45 per cent respectively. However, arrivals from Spain, Italy and the Netherlands have declined by 9.53 per cent, 50.56 per cent, 3.95 per cent respectively compared to the same month last year. </div> <div> </div> <div> Tourist arrivals from Australia, Canada and the USA have increased by 39.23 per cent, 6.78 per cent and 16.05 per cent respectively. However, arrivals from New Zealand have decreased by 3.64 per cent. A total of 59,335 foreign tourists departed from TIA in August 2013. The number of Nepalis arrivals stood at 62,200 while 75,200 Nepalis departed from TIA in August 2013.</div>', 'published' => true, 'created' => '2013-11-06', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Soaltee Crowne Plaza, Kathmandu has won Today’s Traveller Award 2013 for the Best International Business Hotel. The award ceremony was held in New Delhi on August 30 at the Taj Palace Hotel', 'sortorder' => '1922', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2076', 'article_category_id' => '34', 'title' => 'Money News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong style="font-size: 16px;">157.8 Million Shares Listed in NEPSE</strong></div> <div> Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.</div> <div> </div> <div> Securities Board of Nepal (SEBON) grants share issuance permits for a total of Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO of Rs 3.51 billion to 23 companies, right shares of Rs 3.94 billion to 5 companies, bonus shares of Rs 4.60 billion to 52 companies and bond issuance of Rs 3.15 billion to 7 companies. </div> <div> </div> <div> <strong>Market Size Increased by 40pc</strong></div> <div> Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-13. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011- 2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-13. </div> <div> </div> <div> According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies as well as rise in the number of shares listed and number of investors within this year. He also said the operation of essential infrastructures like CDS & Clearing and mutual funds also helped to increase the market size. Poudyal added, “The number of investors is also increasing lately.</div> <div> </div> <div> <strong>Transaction Amount Doubled</strong></div> <div> The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-12. The share transaction was of Rs 10.27 billion in FY 2011-12 which reached Rs 22.4 billion in FY 2012-13.</div> <div> </div> <div> <strong>Listed Companies 230</strong></div> <div> The number of listed companiesby the end of fiscal year 2012-13 has reached 230. Among the listed companies, 198 are banks and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 trading organisations, 4 hydropower companies and 2 others. There were 216 listed companies in FY 2011-12.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-06', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-13. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in 2012-13.', 'sortorder' => '1921', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2075', 'article_category_id' => '34', 'title' => 'Corporate News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>TeliaSonera to Sell Hello Mobile Shares</strong></span></div> <div> <img alt="Hello Nepal" src="/userfiles/images/bn2%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 104px;" />TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. In a press statement issued on September 11, TeliaSonera informed that they are going to sell the shares to an American company Zhodar Investment, which is based in British Virgin Islands. The selling process of the shares will be completed within a month, reads the press release. </div> <div> </div> <div> “Over the past year, uncertainty regarding regulatory and legal environment for consolidation and granting of licenses in Nepal has increased. Pursuing an acquisition of Nepal Satellite is therefore not possible for regulatory reasons,” the statement read. </div> <div> </div> <div> TeliaSonera, had incurred a loss of nearly 400 million Swedish Kronor, which is approximately Rs 6.19 billion.</div> <div> </div> <div> The company has said that the agreement will enable it to concentrate on Ncell, which reduces the business risk and complexity of its total involvement in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Food Drinks and Hospitality Expo Concludes</strong></span></div> <div> <img alt="Food Expo" src="/userfiles/images/bn3%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 250px; height: 138px;" />The Seagram’s Royal Stag Food Drinks & Hospitality Exhibition 2013 concluded on September 22. The Exhibition 2013 hosted 122 exhibitors, 3 thematic pavilions, 5 special events and showcased various products and services of the food, beverage and hospitality industry.</div> <div> </div> <div> According to the organisers, the exhibition was visited by a total of 45840 visitors of which 9840 were business visitors and 36000 consumers. </div> <div> </div> <div> The American Franchise Pavilion, Hospitality Education Mart, Morde Master Baker Challenge, Monin Best Bartender Contest, Master Chef Challenge were some of the attractions of the expo.</div> <div> </div> <div> The exhibition was organized by House of Rajkarnicar Exhibitions & Events in recognition of the tremendous growth in the sector. </div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'TeliaSonera, the parent company of Ncell, will sell Nepal Satellite Telecom’s share, operator of ‘Hello Mobile’, to an American company due to regulatory reasons. In 2012, TeliaSonera had bought 57 per cent of shares from Nepal Satellite Telecom. I', 'sortorder' => '1920', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2074', 'article_category_id' => '34', 'title' => 'Banking News October 2013', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 16px;"><strong>NRB Urges to Keep Currency Notes Clean </strong></span></div> <div> <img alt="Nepali Note" src="/userfiles/images/bn%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 120px;" />Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives. </div> <div> </div> <div> Speaking at an interaction programme organised at the office of New Business Age Pvt Ltd on September 15, NRB spokesperson Bhaskar Mani Gyawali made such a request. “We are distributing new banknotes this year too, so I would like to request one and all to help us in keeping the notes clean,” he said, adding that the citizens are also responsible to keep the notes that are national property, clean. </div> <div> </div> <div> The NRB has started distributing new and crisp notes worth Rs 30 billion aiming to meet high demand during the festivals. The designs of banknotes of Rs 100, 50 and 20 have been changed in the new lot to make it visually-impaired friendly.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>NRB Refutes Deadline Extension Reports </strong></span></div> <div> <img alt="Nepal Rastra Bank" src="/userfiles/images/bn1%20(Copy).jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 185px;" />Nepal Rastra Bank (NRB) has clarified that it has not extended the deadline to meet the minimum required capital (paid-up capital) for banking and financial institutions (BFIs). Reacting a news report claiming that it had extended the deadline, NRB spokesperson Bhaskarmani Gyawali said . “We have provisioned that the proposed bonus share distribution on Fiscal Year 2013- 14 if approved by the NRB could be counted on the paid-up capital.” Through the monetary policy, the NRB had directed those bank and financial institutions, who are yet to meet the minimum paid-up capital, to do so by the end of FY 2013-14.</div>', 'published' => true, 'created' => '2013-11-05', 'modified' => '2013-11-05', 'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal, current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events, ongoing biz news news of nepal', 'description' => 'Nepal Rastra Bank (NRB) has urged citizens to keep bank notes clean keeping the Dashain and Tihar festivals in mind. NRB’s request has come at the wake of festive seasons, when celebrations require offering of money to deities and relatives.', 'sortorder' => '1919', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2049', 'article_category_id' => '198', 'title' => 'The Legendary Bakers', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Bhawani Timilsina</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Bijay Paudel, Sales Manager, Krishna Pauroti Pvt Ltd" src="/userfiles/images/bp%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 207px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Bijay Paudel</strong></div> <div> <em>Sales Manager</em></div> <div> <em>Krishna Pauroti Pvt Ltd</em></div> </div> </td> </tr> </tbody> </table> <div> Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality. Krishna Pauroti since its establishment six decades earlier has now become synonymous to the industry itself, Bijay Paudel sales manager at the Krishna Pauroti Pvt Ltd said. Krishna Bahadur Rajkarnikar, the pioneer of bakery in Nepal, established the bakery in 1948 following his arrival from India, Paudel said adding the baker had “introduced loaf and cakes for the first time in Nepal.” During a visit to India, Krishna Bahadur Rajkarnikar was influenced by a famous English bakery named Firpo. Upon his return to Nepal he started bakery business. </div> <div> </div> <div> Krishna Loaf is renowned in the bakery industry for its quality and has been a benchmark for quality for many bakers. It is one of the first loaf of bread that Nepalis came across, before that roti was the only household thing to eat. </div> <div> Down the years, the bakery has latest bakery equipments but it was not so in the beginning. “It was handmade affair in the beginning. Tough various international technologies had been entered in the recent time,” Bijay said adding, “Consumer’s taste keeps on changing. It is necessary to put out a bigger selection for the consumers.” </div> <div> </div> <div> The legendary bakery firm has set itself apart from other bakers in terms of packaging, product quality and ingredients. Though the bakery has not launched any ad campaigns, the company is preparing to develop and advertise its products in media in the days ahead. “We are planning to make strategy in this regard in the near future,” he said while conceding that “Bakeries rarely invest in advertisement “.</div> <div> </div> <div> “Being a legendary bakery we have been striving to manufacture bakery products that have superior quality.” “Consumers now are becoming very conscious about brand and quality. It encourages us even further to maintain quality, “he says. “The bakery has been constantly planning to improve and upgrade quality. We have been trying to embrace the latest technology.”</div> <div> </div> <div> Bakery product consumers are growing. And this growth has brought in customers with varied taste. Paudel elaborated that considering the popularity of the brand, it is imperative for them to offer wide ranges of bakery products that confirm to the quality standards, taste and expenditures of our customers. “Growing preferences of consumers has played a great role for the increasing popularity of the bakery items, “he adds. </div> <div> </div> <div> Not only customers, he claims that the brand has inspired many others to join the industry and contribute in expanding it. Bakery items like bread, patties, black forest, fresh snacks, rolls, cakes, pies and other pastry products are becoming popular among different groups of people. “The number of bakery products consumer is growing by the day” Paudel added informing that presently the bakery produces more than hundred bakery products that are equally popular among its customers. </div>', 'published' => true, 'created' => '2013-10-28', 'modified' => '2013-11-12', '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' => 'Consumption of bakery items have rose significantly over the years. New bakers continue to show on the scene and yet some continue to abandon the area. Over the past sixty years many bakers have joined and many have left Nepal’s bakery industry, but Krishna Pauroti continues to be popular and most sought after brand in every household that demand quality.', 'sortorder' => '1917', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2068', 'article_category_id' => '38', 'title' => 'Best Ways To Retain Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year. </div> <div> </div> <div> Employees leave organizations for different reasons. Some find a different job, continue higher studies, and some move away due to family problems. Others retire, quit on impulse due to dissatisfaction about something, or never intended to work after earning a certain amount of money. People also get fired or laid off and decide they no longer need a job. Some may also want to start a new venture.</div> <div> </div> <div> An individual will stay with an organization as long as the incentive it offers (such as satisfactory pay, good working conditions, and developmental opportunities) are equal to or greater than their time and effort. Although some individuals may quit a job on impulse, most people who leave spend time evaluating their current job against possible alternatives, developing intentions about what to do, and engage in job hunts. All of these examples represent a turnover and they don’t all have the same organizational implications. Thus, turnover can be voluntary, involuntary, functional, dysfunctional, avoidable and unavoidable.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Why Employees Stay </strong></span></div> <div> As employees participate in their professional and community life, they develop a web of connections and relationships on and off the job. Leaving a job would require severing or rearranging these connections. Employees who have many connections are more embedded, and thus have numerous reasons to stay in an organization.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Factors of retention</strong></span></div> <div> Challenging and meaningful work, opportunities to learn and grow, the sense of being part of a group or team, and having a good boss are four primary ways to retain employees, though the first three ways are basically influenced by the boss.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Challenging, Meaningful and Transparent Work</strong></span></div> <div> Exciting, challenging and meaningful work that makes a difference is the most important factor in job satisfaction. If one is going to spend a great deal of one’s life doing something, it at least should have some interest and some meaning or purpose. Also, an organization should prepare a platform where employees feels rewarded and attracted to go to office daily. The management also has to maintain transparency in terms of vision, mission, goals, objectives, implementation strategies, and policies in order to make a job meaningful and challenging.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Opportunities to Learn and Grow</strong></span></div> <div> Clear career growth, learning, and development are three of the top reasons that people stay in their current jobs.</div> <div> A good boss provides opportunities for learning, challenges, and growth on the job that match the employee’s abilities and aspirations. He or she encourages employees to improve the work as well as their skills and to keep up with the latest developments in their field as well as facilities for providing formal and informal learning opportunities. Employees should also be encouraged to network, to join trade and professional associations and to read publications related to their line of work.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sense of Being Part of a Group or Team</strong></span></div> <div> Working with great people, being a part of a team, and having fun on the job are some important factors in job satisfaction. Even a department, section, or division can feel like a team if the manager and employees treat each other with courtesy and respect, listen to one another’s ideas, recognize and celebrate each other’s accomplishments, and work toward common goals. Of course, every team or work group can benefit from training in areas such as communication, group development, decision making and conflict resolution. It is the manager’s responsibility to provide the work group members or team members with the tools and resources to work well together. It is the group’s responsibility to utilize them well. This contributes in building a feeling of organization citizenship.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Good Boss as a mentor, facilitator & visionary leader</strong></span></div> <div> Rudeness, impatience, arrogance, intimidation, yelling, being condescending, embarrassing people, swearing, telling lies, sexual harassment, using inappropriate humour and demonstrating sexism or racism will not earn the loyalty or respect of employees. Besides, behaviour such as failing to solicit and listen to employee input, failing to recognize employees’ accomplishments, withholding praise, giving only negative feedback, taking credit for others’ accomplishments or ideas, blaming others for one’s own mistakes, betraying, micromanaging, withholding critical information, showing distrust, showing favouritism, setting unrealistic goals or deadlines, and failing to help good performers grow in their career in the hope of holding onto them are equally harmful to good boss- employee relations which encourages employees to leave. Satisfied employees report that their managers are good role models and demonstrate inspiring leadership. They communicate well and often, they are trustworthy and supportive. They help to create a sense of purpose in the work, and they encourage employee growth and career development. Also, a boss should be up to date with the latest ideas in order to cope and balance new entrants who bring new vibrations in the organization. In short, for managing a talent, a boss should be a talented person first. The word ‘boss’ itself needs to be transformed to ‘mentor’, ‘facilitator’ and a ‘visionary leader’.</div> <div> </div> <div> Besides these primary factors, there are a number of others that influence employee retention, such as competitive benefit packages that fit employees’ and industries’ needs, stay and exit interviews and application of their outcomes at the strategic level, open communication between employees and management, and communicating clear expectations to employees.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'In order to understand how to retain employees, we must first understand why employees leave or stay with an organization in the first place. To learn and unlearn on the best ways to retain employees, Real Solutions organized a seminar entitled ‘Best Ways to Retain Employees’ on at the Presidential Business School in Kathmandu in July this year.', 'sortorder' => '1916', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2020', 'article_category_id' => '122', 'title' => 'MS Group: From Manufacturing To Tourism', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Shashi Kant Agarwal, Managing Director, MS Group" src="/userfiles/images/ssk.jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Shashi Kant Agarwal</strong></div> <div> <em>Managing Director, MS Group</em></div> </div> </td> </tr> </tbody> </table> <div> Travel and tourism does not lure someone merely by its entertaining and fun experiences. Entrepreneurs are lured to this industry because of its lucrative business prospects that are believed to be growing in Nepal. MS (Maliram Shivkumar) Group is one of the latest national manufacturing houses to join this niche. It has decided to venture into the tourism industry by establishing luxury hotels in a tie-up with Marriot International- an US based international hotel chain.</div> <div> </div> <div> Nepal Hospitality Group Pvt. Ltd, a subsidiary of the MS conglomerate reached an agreement with Marriott International to open the Fairfield by Marriott hotel in Thamel, Kathmandu. This business hotel, according to Shashi Kant Agarwal, Managing Director of the group, has an investment of Rs 600 million and informed that its construction has already kicked off.</div> <div> </div> <div> Similarly, a second hotel in Naxal, also under the joint venture partnership with Marriot International is scheduled to start construction immediately after Tihar festivals. Agarwal says that this will be a luxury hotel with 250 rooms. Both of these hotels will be at par with four star hotel standards.</div> <div> </div> <div> These new ventures of the group are the first initiatives towards the tourism industry and are part of the larger plan the group has. Agarwal says, “We have plans to establish hotels across the country. This is the beginning and we have decided to come up with two new hotels at the time as the political situation has shown signs of improvement.” Agarwal, who is also a traveller, says there are numerous tourism potentials in sub-sectors like eco-tourism, adventure tourism and religious tourism. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Trading Transition</strong></span></div> <div> The journey of the MS Group started as a trading house some six decades ago by Shashi Kant Agarwal’s grandfather, Maliram Agarwal. During that time, he had a shop at Indra Chowk in Kathmandu that sold clothes in the palace of Ranas. When the market gradually expanded, Maliram Agarwal started a whole-sale garments store at Jhochhe. Garments were imported from India and supplied to local retailers in the valley districts along with Dhulikhel, Katari, Tandi among others. The founder Agarwal used to walk for weeks to reach these places and sell goods even in credits to local merchants.</div> <div> </div> <div> The local garment business slowly expanded into international trading with the beginning of third country export in Nepal. Agarwals involved in it by exporting jute and textiles. Gradually they started importing motor parts and bearings. Some were consumed in Nepal while majority of them were exported to India.</div> <div> </div> <div> The group had already seen success in the trading business before moving onto the manufacturing sector. An incident during the trading days encouraged Agarwals to venture into a more stable business than trading – into the manufacturing.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Initiating Manufacturing </strong></span></div> <div> Agarwal recalls that a ship transporting garments belonging to MS Group along with other traders of Nepal was hijacked near Hong Kong and goods never reached Nepal making a huge loss to the companies. </div> <div> </div> <div> This unfortunate incident made them settle down to a business with marginal risks. Agarwal says, “That incident was a blessing in disguise. In our corporate life-cycle, it inspired us to move towards the manufacturing business.” As a consequence, a hosiery factory was established, although of a small scale. He recollected that the hosiery factory came at a time when the group was counted as one of the leading garment trading concerns in Nepal in terms of turnover and said that the family had decided to establish a cottage industry despite it. </div> <div> </div> <div> The hosiery factory at Battisputali, Kathmandu grew well and was followed by the setting-up of Pashupati Textile factory in Patan. This manufacturing unit produced both cotton and polyester textiles and also dyed them. As the group’s turnover kept growing, it moved into steel manufacturing with Bhagwati Steel Industries in Birgunj. There were no pauses in the expansion drive. The group further established the largest sugar mill Everest Sugar Mill in Mahottari, in partnership with Everest Group. Similarly, Reliance Spinning Mill , that is now a factory that has created highest number of employment- 3400 people including 1500 women, was also established.</div> <div> </div> <div> Since the group moved into the manufacturing sector, it never had to look back. As of now, the group has a total of 10 companies operating in manufacturing, housing and trading business including a couple of them in partnership with other business houses of Nepal. And, these companies register an annual turnover of Rs 12 billion. </div> <div> </div> <div> As a recent expansion to its manufacturing unit, the group is setting up a new large scale sugar mill in Siraha. According to Agarwal, the construction works have commenced and necessary machineries have been imported. He says that the mill will begin crushing in a year’s time. </div> <div> </div> <div> Along with these, the group is promoter in some banks and financial institutions but Agarwal says that the group is not directly involved in them.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Positioning Markets </strong></span></div> <div> As the group is involved in production of diverse products, they cater to a wide range of market and target customers. Most of its steel products are targeted at local market and is purchased for constructing electricity poles, bridges, telephone towers by telecom and electricity companies. Similarly, the group also produces galvanised sheets and pipes for the local market. </div> <div> </div> <div> Likewise, sugar is sold to both bulk buyers and general public. According to Agarwal, Salt Trading, bottlers of Coca-Cola Pepsi, and Frooty, Rio and other beverage manufacturers are regular buyers. Meanwhile, 75 per cent of production of Reliance Spinning Mill is exported and the remaining is consumed within Nepal which accounts to around 50 to 60 per cent market share, claims Agarwal. The foreign markets for its products are mainly India and Turkey.</div> <div> </div> <div> Agarwal says that the housing project of the group did relatively well as it was launched relatively earlier before the market was over flooded. However the bubble burst of the housing and real estate business hit its Subsidiary Sunrise Apartments. He says that the housing still has strong brand strength in the market. </div> <div> </div> <div> Elaborating on the branding needs, he argues that other products such as sugar do not need any branding and aggressive publicity. As the market is mostly the bulk buyers, offering quality would help gain the market share. And added that sugar produced by Everest Sugar and Chemical Industry Ltd has a good recognition in domestic and international market.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <div> <div> <span style="font-size:16px;"><strong>Some Companies under MS Group</strong></span></div> <div> •Reliance Spinning Mills Ltd</div> <div> •Everest Sugar & Chemical Industries Ltd</div> <div> •Sunrise Apartments Pvt Ltd</div> <div> •Bhagwati Soap Industries Pvt Ltd</div> <div> •Bhagwati Carbide Industries Pvt Ltd</div> <div> •Bhagwati Rolling Mills Pvt Ltd</div> <div> •Nepal Hospitality Group Pvt Ltd</div> <div> •Bhagwati Steel Industries Pvt Ltd</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Some Products of MS Group</strong></span></div> <div> •Polyester, Acrylic and Cotton Yarns</div> <div> •Steel</div> <div> •Sugar</div> <div> •Housing and Apartments</div> <div> •Soaps</div> <div> •Partially Oriented Yarn,Polyester Texturised Yarn and Knitted Fabrics</div> <div> •MS torque steel </div> <div> •Dry cell batteries</div> <div> •Galvanised sheets, poles, door/window profiles</div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>Employment and Management</strong></span></div> <div> According to Shashi Kant Agarwal, the group has provided direct employment to 6000 people including its subsidiaries under the joint venture with other business houses. However, Reliance Spinning Mill alone employs 3500 people. The decentralised management system of each of the companies looks after each and every management responsibilities and daily affairs. He shares that the policy level and financial affairs are only taken care by the central management. The management team is well groomed to take care of everyday activities, marketing, sales and procurements, he added. </div> <div> </div> <div> </div> <div> <span style="font-size:16px;"><strong>CSR Activities</strong></span></div> <div> Although the group does not aggressively pitch Corporate Social Responsibilities (CSR) it has subtly carried out such activities, in various forms, in localities where the groups’ factories established. The group has built hospitals, dispensaries, schools, rooms for schools, donated ambulances among others on a regular basis. Agarwal says that his father is a spiritual person and makes constant donations and supports to religious causes. Well known among the Marwari community, his father had donated land worth Rs 20 million to Gaushala recently.</div> </div> </div> </td> </tr> </tbody> </table>', 'published' => true, 'created' => '2013-10-27', 'modified' => '2013-11-12', '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' => 'MS Group started its business journey almost six decades ago as a trading house. During these years the house has not only established itself as a leading manufacturing house, but more recently has also ventured into the tourism industry with major hospitality projects on the cards.', 'sortorder' => '1915', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2061', 'article_category_id' => '150', 'title' => 'Business Briefs (28 October - 3 November)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Micromax Launches Two New Models</strong></span></div> <div> Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor. It has 1 GB of RAM, and has an 8 MP primary camera and 2 MP secondary camera. Canvas Fun comes with Android 4.2.2 Jelly Bean and has a 4.5 inch screen. It is powered by a 1.3 GHz dual core processor and has 512 MB of RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Experience Hyundai’ Organized</strong></span></div> <div> Laxmi InterContinental Pvt Ltd organized an event named ‘Experience Hyundai’ from 24-26 October at its Thapathali showroom. According to the company, the event was organized to provide a platform to experience the entire Hyundai family along with some entertainment. The event featured free car wash, free gift on every test drive, any brand exchange, on spot finance and insurance and a free check up facility for Hyundai vehicles. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Karbonn A5 and A26 Launched</strong></span></div> <div> Allied Trade link International P Ltd, the authorized distributor of Karbonn Mobile launched two new handsets A5 and A26 in the market. A5 has features like Android Gingerbread, dual SIM, 1 GHz processor, 256 MB RAM, 3.2 MP camera and front digital camera among others. A26 comes with features like Android v 4.1, 1.3 GHz dual core processor, 5 inch Screen, Wi-Fi, 2000 mAh battery, 5 MP camera with LED flash, Front Digital camera and 512 MB RAM. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yamaha Scooter Exchange Concludes</strong></span></div> <div> MAW Enterprises organized ‘Yamaha Scooter Exchange Mahamela’ from October 24 to 26 at Bhrikuti Mandap. According to the company, this was the first and biggest event of its kind in Nepal. The event offered exchange of old motorcycles and scooters with Yamaha Ray. There was participation of more than 10 dealers and over 40 re-condition houses. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Ford Focus Best Selling Vehicle Globally</strong></span></div> <div> Ford Focus has maintained its leadership as the best-selling vehicle nameplate globally, based on Ford analysis of the latest Polk global vehicle registration data for the first half of 2013. Globally, Focus is up 20 per cent in the first half of 2013 as compared with the same period last year. Also, Ford Fiesta ranks as the fourth best-selling vehicle overall, and is the world’s best-selling subcompact vehicle through June 2013. Ford is the only brand with two nameplates among the global top five best-sellers.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Micromax has launched two new mobile phones Canvas 2 Plus and Canvas Fun in the market. Canvas 2 Plus sports a 5 inch IPS screen, runs on Android 4.2.1 Jelly Bean OS and is powered by a 1.2 GHz Quad core Processor.', 'sortorder' => '1914', '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' => '2065', 'article_category_id' => '37', 'title' => 'Nepali Federalism From Economic Perspective In Nepal', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Dr Chandra Mani Adhikari</strong></div> <div> </div> <div> There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance.</div> <div> </div> <div> A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.</div> <div> </div> <div> The date of election has been set and the Election Commission is working within a given framework. But issue and essence require more debate while it is also urgent to have constitution.</div> <div> </div> <div> In this regard, some observations on the basis of the international experience and national reality are pertinent. The state’s structure can be divided into three systems. One is related to formation of the government. The second is defined power of the government whereas the third is the mechanism to serve the grassroots. The federal system has been developed since 17th century.</div> <div> </div> <div> The unitary form of governance was implemented after the First World War which didn’t work properly in practice. Regarding the forms, the main question regarding the federal or unitary system is motive of separation of rights for balancing different levels of the government.</div> <div> </div> <div> In some federal countries, the center seems more powerful in others the states are more powerful. In principle, federalism is the system of self-governance by the state based on rule-of-law. Thus, federal system would not be meaningful in undemocratic environment.</div> <div> </div> <div> Nepal is already a federal republic, if we go only by the Interim Constitution of Nepal. But in practice, it is still to be federal. Many questions such as those related to the structure of the state, basis of restructuring, methodology of building the federal nation, the form of government, election system and judicial system are still unanswered. Moreover, there is still no consensus on the issues of culture, geography, economic resources, population, infrastructure, level of social understanding and nature resources that a state needs to have to qualify to be a federal state.</div> <div> </div> <div> Other hot topics for discussion are the number of federal states, their geographical border and authorities of the legislative and executive bodies of the federal states.</div> <div> </div> <div> <img alt="" src="/userfiles/images/epn1%20(Copy).jpg" style="width: 550px; height: 252px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> Two best examples of successful federalism are Switzerland and USA where many smaller nations tied up into the confederation. However, in USA the confederation was not working properly in the beginning. So, in 1781, USA declared the Federal Constitution with relatively more power to the center.</div> <div> </div> <div> After 50 years of experience with its own style of federalism, Switzerland too issued American model constitution in 1848 that aimed to enhance cooperation among the states. Germany introduced cooperative base federal constitution in 1871 and Belgium, France, Spain and South Africa followed it. Some countries like Bosnia and Herzegovina, Ethiopia, Congo and Iraq entered into federal system with background of conflict and other historical accords.</div> <div> </div> <div> On some instances, economic disparity, religious differences and geographical differences too have led to federalism. Canada is one such example.</div> <div> </div> <div> Nepal declared itself a federal state after people’s movement. And there are various reasons and logic behind the Nepali federalism. These include safety to the local community from encroachment of outsiders, institutionalization of democracy and making the state more inclusive. But what is happening (and has happened) in Nepal is different than the global experience.</div> <div> </div> <div> Nepal’s need is to end all sort of social and economic disparities by ensuring a conducing economic and political infrastructure through a political and constitutional consensus, using federalism as an instrument. In this context, it’s irrelevant to ask whether the state should be restructured on ethnic lines. Lengthy debate on the question whether the states should be based on single ethnicity or multi-ethnicity identification has proved futile.</div> <div> </div> <div> To make federalism successful in its objectives, we should scrutinize the real challenges and potentials, which are directly related to state restructuring. These include Nepali ethnicity management (with a goal of transforming current Nepali society into socially-economically and politically prosperous future) geographical balance and finding an optimum in terms of types, name, levels, numbers and size of federal and state governments. Also challenging is the question of whether optimization can be achieved with identification of appropriate determinants like population, geography and some other context.</div> <div> </div> <div> Among such contexts, the distribution of resources plays a prominent role. This is related with the need divide and assign the economic and revenue rights — PROPERLY — between the governments where resources can be mobilised in right proportion through (double, united or moderate) mechanism. This may require establishing a new set of institutions to run the system. The total size of the national budget will grow as each state will have its own government-legislature, chief minister and ministers and so on. We need consensus to determine a manageable size for all these. </div> <div> </div> <div> While determining the size and number of the provinces, presently available physical and economic resources, density of population, geographical area, level of technology, means of transportation etc should be considered. Another prominent reality to be accepted is the beauty of diversity. The Mountains, hills and the plains — these three geographical regions are interdependent; however all aspects of such dependencies are not measurable economically.</div> <div> </div> <div> The strength of the Hills is water as well as some other natural resources and high possibility of tourism industry. Whereas the strength of the Terai lie in the vast fertile land, urbanization, dense population and more economic activities.</div> <div> </div> <div> However, these factors may change in the future for example; migration may change the demographic structure. In this context, all the political parties and the policy makers need to be careful while allocating the economic resources and political rights between the states and the centre.</div> <div> </div> <div> In conclusion, striking a balance between the economy, politics and social aspirations of people is needed to design an optimum form of federalism. It is really the responsibility of present leadership to work for the next generation for a better and prosperous Nepal.</div> <div> </div> <div> <em>(Writer is an economist and also chairman of National Council for Economic and Development Research (NAREC Nepal)</em></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age economy & policy news & articles, economy & policy news & articles from new business age nepal, economy & policy headlines from nepal, current and latest economy & policy news from nepal, economic news from nepal, nepali economy & policy economic news and events, ongoing economy', 'description' => 'There is lot of hue and cry for a new constitution that will have highly suitable federal structure. But, it does not look conducive enough for a successful election followed by good governance. A better Nepal is still a distant dream. Being optimistic, one can say things can be brought back on right track but that is possible only with a strong determination and attitude backed by a rigt thought. It requires quality leaders with logical, inclusive and judicious representation as well as balanced executive 9or administrative structure.', 'sortorder' => '1913', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2064', 'article_category_id' => '47', 'title' => 'An Unintentional Journey', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> </div> <div> <strong>--By Sagar Ghimire</strong></div> <div> </div> <div> Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come. </div> <div> </div> <div> With the passage of time, he tried to fit himself in different roles, either merely to make his living, an ambition to earn huge amount money or sheer interest to serve the nation. Whatever he met on the way, he accepted it as a career with making sincere and hard efforts to make it happen.</div> <div> </div> <div> The ambition to earn money has its roots in his early childhood. The deprivation he experienced during his childhood left an indelible imprint in his mind, always compelling him to think about accumulating wealth. However, he says, he never compromised with his ethics and integrity to make money. Born to Late Jibnath Lamichhane and Late Dewaki Lamichhane in a middle-class family in Makwanpur, he had to endure the grief of his father’s demise barely at the age of two. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Multiple identities</strong></span></div> <div> Recently, he has been recommended as a Nepali Congress (NC) candidate for the upcoming Constituent Assembly polls from Makwanpur Constituency-2. He joined the party last month amid a function in Kathmandu, where the party president Sushil Koirala welcomed him by issuing the general membership of the NC. </div> <div> </div> <div> “I joined this democratic party as I want to serve the nation now through politics,” shares Lamichhane. He is in the contract business for more than 25 years. During this period, his company has not only constructed hundreds of bridges, roads and buildings, but also worked as a sub-contractor for the construction projects as far as in India, Japan, Cambodia and Qatar. </div> <div> </div> <div> He is now leading more than 17,000 contractors of the country as a President of FCAN. Apart from that, he is also a Board Member of Nepal Purwardhar Bikash Company Limited (NPBCL), Nepal’s first public limited company building a national toll highway of Asian Highway Standards. The company is in the process of building the Kathmandu-Kulekhani-Hetauda Tunnel Highway (KKHT), a dream project with the 4P initiative (people, public and private partnership). </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Teaching in transition</strong></span></div> <div> After completing his School Leaving Certificate degree from a local school in the Chitlang, Makwanpur, he decided to teach in a school at Kulekhani to make a living instead of going to college. It was while teaching in the school he decided to appear privately in Intermediate degree exams. He was happy for getting a teaching job as he did not need to worry about bread and butter. Yet, he was looking further for ways to make more money. “It was very difficult for me to manage everything with mere Rs 275 per month. So, I was looking for other alternatives,” he shares.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Turning Point</strong></span></div> <div> Once, Lamichhane was returning home from Martung, Kulekhani for his holiday. Incidentally, he met one of his relatives Ram Prasad Lamichhane on the way, who happened to work for Mittal Construction Pvt Ltd in a Devighaat Hydropower project. Lamichhane inquired about job possibility in the company. The relative informed him that the company was looking for someone who could look after the project accounts, and had to be stationed in Dhunche in Rasuwa. </div> <div> </div> <div> Agreeing to work, he went to Kathmandu the next day for the job in the Company. The company offered him Rs 1000 per month for the job. Later, he went to the project site to take up the job of maintaining financial account of the project. However, he did not limit himself to book keeping. “Eventually, I learned other aspects like engineering, survey works as well as other aspects of road construction,” he recalls. After the completion of that project, he was provided with the overall responsibility of another hydropower project as an in-charge. Impressed with his works, the company later provided him the responsibilities in numerous other projects. </div> <div> </div> <div> “While working for these projects, I had gained a lot of experience and also had an insight of the construction business.” he shares. Life was about to open a new door for him, and he was struck with an idea to open his own construction company. “When I shared my interest to come up with my own company with the Managing Director Manohari Lal Mittal, he was very affirmative about the idea and encouraged me to pursue what I dreamt of,” he says and adds, “he did not only encourage with his words but also provided me with a seed fund of Rs 50,000.”</div> <div> </div> <div> With this capital, he registered his own company Swochhanda Constuction Pvt Ltd in 1989. It did not take him much to speed up the business after establishing his own venture. After the launch of his own company, he never looked back. The first project his company undertook was an irrigation project in Parsa worth Rs 300,000. Till date, he has completed many projects worth billions of rupees, most of them as a sub-contractor for international companies like Japan’s Obayashi Corporation and Chinese CWE Company. He says he has been able to win hearts of these international companies, thereby earning accreditation for his company as one of the ‘best’ in Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Personal Nature</strong></span></div> <div> Youngest among five sisters and brothers, Lamichhane did not get a privilege to go to college owing to the poor economic condition. However, he did not let his interest of studying die. Though he had dropped school while he was in grade 8, he rejoined it later realizing that he should continue his study at any cost. </div> <div> </div> <div> An introvert during his childhood, his family friends and relatives mistakenly thought him to be arrogant. Today, Lamichhane has much changed and is quite an outspoken person. “I was determined to achieve whatever I strived for, and that included my personal aspects as well,” he says. Since he did not grow up in a well-off family, he rarely had time to hang out with his friends. “I realised from my early childhood that I had to manage the finances myself, and I always felt that I had to stand on my own feet. Owing to my financial problems, I never get a chance and time to truly enjoy my childhood,” says Lamichhane.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>“Nobody to guide”</strong></span></div> <div> Behind every successful person, there is somebody whose support becomes instrumental for him. Family, teacher or a mentor, among others, are usually there to push a person forward towards his life goals. However, it was not the case for Lamichhane. “I was not lucky enough to have such an opportunity. Whatever I met with in my directionless journey, I had to utilize and adopt it on my own as a career,” says Lamichhane. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sustaining Formula</strong></span></div> <div> Lamichhane says that wherever he stands today, it is because of his honesty that he maintained throughout all the situations. “Once I even refused a huge project offered by the Obayashi Corporation because I knew I could not deliver the work on their stipulated deadline,” he shares, and adds, “after I was reluctant to undertake the project, they insisted me to work with them, encouraging me to take the project anyway. They assured me that they will support me in everything to get the project done on time.”</div> <div> </div> <div> He says that he did not shy away from revealing own weaknesses. “The businessmen in Nepal tend to conceal their pitfalls, but I have always tried to be honest,” says Lamichhane. He respects the value of labour very much. “Be it in a single grain that I eat or a single cup of tea that I sip, there is a value of labour attached with it,” he notes. </div> <div> </div> <div> He gives the labourers very big credit behind his success in business. “For me, I come only after the labourers, who always put their efforts and hard work for the success of any project,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Bad Bidding</strong></span></div> <div> As a businessman who has spent almost three decades in the construction business, Lamichhane strongly criticizes the tender bidding process of Nepal. The contractors are often accused of employing muscle power and goons for getting the contract in their hands. However, he denies it as a problem. The overall problem emanates from the flawed tender bidding process and the related law, he claims. “The tender bidding process neither bodes well to the contractor nor to the beneficiaries. The contractors have to compromise on the quality of the construction as the lowest bidder is awarded with the project,” he argues. Frustrated with the lengthy, complicated and flawed process of the tender bidding of the government projects, he underlines the need of overhaul in the bidding process. “Else the country and people will have to suffer from the substandard delivery of the projects,” he warns.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Hobbies and Family </strong></span></div> <div> Humming songs alone, watching comedy shows and spending times with family are his hobbies. When overloaded and stressed with work, he meditates, and loves to do so in secluded and tranquil location of Dakshinkali. “To get rid from the hustle bustle of the city, I sneak to Dakshinkali alone for 2/3 hours to meditate, sometimes even at 10 in the night,” he reveals. </div> <div> </div> <div> He has three children who are in school. As he is not able to give much time to his family on weekdays, he manages a day in a week for them. “My children understand me and are happy with their dad’s works,” he shares. Lately, travelling and enjoying the natural beauty has become his pastime. He has been to 56 districts of Nepal and also to more than 25 countries. Out of all the countries he has been to, he loves Japan the best while he never gets tired of going to Kulekhani and Daman in Nepal.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Entrepreneurship Essence </strong></span></div> <div> Years of Unwavering walks have landed Lamichhane in his current position. He didn’t have any concrete plans when he started. He, however, advises the aspiring entrepreneurs to think ahead in future and weigh the profitability of the business they want. “Never compromise in quality in what you do, and always maintain honesty, regardless of the circumstance. Stick to the deadlines, and always delivered the promised quality. You should be accountable for these two aspects,” he cautions. For him, success is seen as what grows after sowing in the barren land. He advises to new generation: “Always sow better seeds so that the coming generation would always remember you while reaping and rejoicing the benefits of it.” </div> </div> <p> </p>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Jayaram Lamichhane, President of Federation of Contractors Association of Nepal (FCAN), has many identities associated with him. A teacher turned businessman, Lamichhance, has recently jumped into the fray of politics. Unlike many successful personalities, Lamichhane was a rolling stone, who did not have a thorough planning and a specific career goal to meet in the days to come.', 'sortorder' => '1912', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2063', 'article_category_id' => '42', 'title' => 'Stagnant Market Ahead Of Earning Reports', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Bikram Chitrakar</strong></div> <div> </div> <div> The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.</div> <div> </div> <div> Investors await the report on earnings from different banking and financial institutions which have driven the index for most of the time. The Standard Chartered Bank Nepal has declared 10 per cent bonus share and 40 per cent cash dividend; Nabil Bank has announced a 40 per cent cash and 25 per cent bonus share; Nepal SBI Bank decided to propose 12.5 per cent bonus share and 7.5 per cent cash dividend while other institutions are also in row to declare their earnings’ announcements. </div> <div> </div> <div> Profit booking has also been noticed in a few sessions after the escalation of the market. Investors rush to secure their profit with a steady market growth and also heed dividend giving stocks and settle with those less attractive or with no returns. </div> <div> </div> <div> As investors intensify their expectations, the deceleration of the earning for the fiscal year 2069/70 will guide the market move ahead of Dasain. </div> <div> </div> <div> Performance by Sector</div> <div> Following previous trends, the insurance sector added 125.34 points or 9.31 per cent to rest at 1346.57. The hydropower sector moved higher by 86.45 points or 6.66 per cent to 1298.23 while the hotels sector gained 32.63 points to reach 704.49. The commercial banking sector, however, plunged by 9.69 points or 1.84 per cent to rest at 526.29. The ‘Others’ sector with the heavy scrip of Nepal Telecom descended 4.70 points to 661.46 whereas the development bank sector went down by 2.69 points to 277.46. </div> <div> </div> <div> The sensitive index that measure the performance of 120 blue chips at secondary market plummeted by 4.24 points or 3.21 per cent to 132.18. However, the float index calculated on the basis of real transactions ascended by 0.52 points or 1.33 per cent to 39.02. A total of Rs. 3,580,221,388 turnover was realized during the review period from 11101443 units of shares traded via 39,607 transactions.</div> <div> </div> <div> The accompanying figure depicts the sector-wise distribution based on total volume of trade. Commercial banks dominated the total volume of trade with 64.27 per cent holdings. Development banks covered 13.98 per cent, the insurance sector accounted for 12.08 points and the rest of the sectors made up for the remaining.</div> <div> </div> <div> Technically, the Simple Moving Average (SMA) has dominated both short term and long term SMA. However, narrowing down of the index suggests a few sideway movements for upcoming sessions. </div> <div> </div> <div> <em>(Chitrakar is a Stock Analyst with Jamb Technologies Pvt Ltd.)</em></div> <div> </div> <div> <img alt="" src="/userfiles/images/sctrl.jpg" style="width: 550px; height: 230px; margin-left: 10px; margin-right: 10px;" /></div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age sectoral news & articles, sectoral news & articles from new business age nepal, sectoral headlines from nepal, current and latest sectoral news from nepal, economic news from nepal, nepali sectoral economic news and events, ongoing sectoral news of nepal', 'description' => 'The stock market of Nepal turned stable during the review period between 20 August and 19 September, ahead of the earning reports of different banking and financial institutions. The benchmark Nepse index added a modest 0.66 points or 0.12 per cent to rest at 548.98. The highest point for the review period was reached on 9 September 552.34 while the lowest was reached on 4 September 545.5.', 'sortorder' => '1911', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2062', 'article_category_id' => '39', 'title' => 'The Story Of The "Best Managed Company"', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: right; margin: 0px 0px 10px 10px;"> <tbody> <tr> <td> <img alt="Vijay Shrestha" src="/userfiles/images/vs%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 238px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Vijay Shrestha</strong></div> <div> Group Executive Director</div> <div> Yeti Airlines</div> </div> </td> </tr> </tbody> </table> <div> Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.</div> <div> </div> <div> Vijay Shrestha, Group Executive Director of Yeti Airlines, says the company is the market leader in rural destinations and mountain flights. The company has stood strong as a partner in transportation of local and foreign passengers, goods and transfer of tools, and equipment for development work in remote corners of Nepal. Along with this, the company has a strong foothold in services targeted at city airports.</div> <div> </div> <div> Shrestha believes that the current range of products and services offered to all three ecological regions would help the company grow. “Both organisational and individual passengers, travel agents and development organisations will eventually come to us as we have services offered to both rural as well as the urban destinations in the hills and plains. These services and clients are critical for our growth,” he explains. The unique blend of services the company provides, the commitment of stakeholders and a strong management has put the company ahead of its competitors. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Unique Management Practices</strong></span></div> <div> Shrestha is of the opinion that competition in the airlines industry lies in value offerings rather than product and service offerings. The company has its own unique management practice along with the largest nationwide network of domestic flights that gives it an edge above others. Shrestha explains that clients who have to go to Humla, Pokhara, Darjeeling, Sikkim, Lukla, Lucknow or any other destination, can count on Yeti Airlines as it has flights to these places or to a nearest place.</div> <div> </div> <div> The company has also made flight safety a top priority. “Compared to other airlines, we have invested heavily in flight safety and flight management system. We are in a leading position when it comes to safety management,” Shrestha says. He further says that the company has put a lot of resources in technologies such as ticket booking systems and management information systems. </div> <div> </div> <div> The company has made on-time flight its unique selling point. Shrestha says that this initiative has helped the company add value to its services and brand recognition. “We have always prioritised timely flights. We prefer flying few minutes earlier than being late. This is one of the most crucial values we are offering to guarantee convenience to our clients,” he says.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>A Synergy of Two Brands</strong></span></div> <div> The company claims that the market coverage by both Yeti and Tara Air is probably the widest among domestic players. According to Shrestha, the company has around 35 per cent market share in city airports and around 65 per cent in rural destinations though the market share keeps fluctuating depending on various market situations. </div> <div> </div> <div> Tara and Yeti have been complementing services and coverage with a fleet size of 14 aircrafts. Shrestha says that the customer base and nature of services has determined the creation of two different brands rather than a single brand operating in both rural and urban destinations. Tara has been operating in rural destinations in hilly and mountainous regions since 2009 with a fleet of six STOL aircrafts.</div> <div> </div> <div> The weather condition and quality of airports play a crucial role when it comes to making flight decisions in hill airports but airlines can make decisions easier in city airports. Similarly, the nature of passengers and clients is different in the areas where Tara operates. Shrestha adds that the variety in types and needs of customers, services and markets have led to the operation of two airlines under different brands. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Group Management</strong></span></div> <div> The Yeti Group is a large business conglomerate working in the tourism and aviation industry with one and a half dozen companies. The group also owns KK Super Mart Nepal, a chain of convenience stores. The management of each of these companies is highly decentralised and each company functions independently. Hotels, resorts, lodges, trekking and travel companies and airlines operate on their own though strategic unity is maintained among them. “Operation of these businesses is largely decentralised and where possible, we try to synergise the marketing,” says Shrestha. The group has also been promoting its travel companies locally. </div> <div> </div> <div> The group also decentralises its human resource management. Its aviation companies employ 800 personnel while the entire group employs a total of 1500 people. According to Shrestha, the company has been able to maintain a high rate of staff retention with its policy of prioritising employee welfare, motivation and creating a professional and friendly working environment. While the aviation industry ails from a lack of skilled technical workforce, the Yeti group is known to not face any shortage in technical human resource.</div> <div> </div> <div> Though the group’s companies are performing well in their respective sectors, the group has not pursued organised branding. Instead, each company and subsidiary has its own brand recognition and is not marketed as a subsidiary of the group. Shrestha hints that organised branding is in the pipeline.</div> <div> </div> <div> <img alt="Yeti Airlines Hangar" src="/userfiles/images/cf1%20(Copy)(1).jpg" style="width: 550px; height: 347px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Future Moves</strong></span></div> <div> The group is planning to come up with new resorts and lodges in Chitwan and Yeti Airlines plans to consolidate value offerings to its customers. The company is dedicated to take its services to new heights by consolidating services in the urban sector. “Our aim is to develop the tourism and aviation industry for the development of the country. Mountain transport and mountain tourism cannot be imagined in the absence of Tara Air and Yeti Airlines. When the services offered are beneficial to the country and people at large, the company will always prioritise on them and strive to make them better.”</div> <div> </div> <div> The company has not decided against reviving flights from its former international carrier - Yeti International. The international carrier was closed down after its joint venture partner Air Arabia withdrew support. Shrestha says that as the company is dedicated to move ahead in the aviation business, there is a possibility of its revival, though there are not fresh tie-ups being made at the moment.</div> <div> </div> <div> <strong style="font-size: 14px;">CSR</strong></div> <div> The airline has been involved in corporate social responsibilities (CSR) since the establishment of the company. The company has been involved in health, social empowerment and education sectors through financial contributions and direct involvement in social works. </div> <div> </div> <div> As a part of CSR, Yeti Airlines donates Rs 4 per flight ticket to four social organisations namely United Mission to Nepal, Save the Children, Habitat for Humanity and Care Nepal. The company has also provided financial support to various social organisations such as Tewa, OCCED, Maiti Nepal, Nepal Leprosy Relief, Nepal Glaucoma Eye Clinic (Tilganga), Sewa Kendra Leprosy, Helpless Children Welfare Mission, Spinal Injury Rehabilitation Centre, Women for Human Rights, CWIN Nepal and the Centre for Victims of Torture (CVICT). </div> <div> </div> <div> The airline has also launched the ‘Green Far West Project’ Kailali, Doti, Rajpur and Kanchapur districts for plantation of appropriate tree saplings in chosen community forests.</div> <div> </div> <div> Recently, the company took 18 orphans of Bal Mandir to a mountain flight on the occasion of National Children’s Day and the airlines’ 15th anniversary.</div>', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'new business age corporate focus news & articles, corporate focus news & articles from new business age nepal, corporate focus headlines from nepal, current and latest corporate focus news from nepal, economic news from nepal, nepali corporate focus economic news and events, ongoing corporate foc', 'description' => 'Yeti Airlines was awarded the ‘Best Managed Company of the Year 2013’ by New Business Age on August 2013. Yeti Airlines bagged the award for offering best air services even in remote areas of Nepal. The airline, along with its subsidiary Tara Air, has been flying to 29 destinations across the country both with scheduled and non-scheduled flights.', 'sortorder' => '1910', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2059', 'article_category_id' => '160', 'title' => 'Corptoon Vol3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', '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' => 'Corptoon', 'sortorder' => '1909', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2060', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 36', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-29', 'modified' => '2013-10-29', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Visual Edit', 'sortorder' => '1908', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
