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However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism.</div> <div> </div> <div> In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan. </div> <div> </div> <div> This time, APC was unique due to several reasons. Firstly, it was attended by all the invitees. Secondly, it was supported by the public mandate regarding the strategy to deal with the Taliban and the US drone attacks. Moreover, people had voted for the political parties which articulated an anti-drone policy. Thirdly, the APC decided to give free hand to the sitting government on three issues—economy, energy and terrorism. </div> <div> </div> <div> According to agencies, the APC has reposed full confidence in the efforts of the country Prime Minister and authorised the federal government to initiate dialogue with Taliban and take all the necessary steps as it may deem fit including development of an appropriate mechanism and identification of interlocutors.</div> <div> </div> <div> In an interesting revelation, APC was informed by security apparatus that there are groups within the Tehreek-e-Taliban Pakistan (TTP) who are in favour of talks but then there are others that enjoy the backing of certain hostile agencies who may never agree. </div> <div> </div> <div> TTP should come clean on those dubious entities which are operating under its brand name and carrying out disruptive actions. TTP should show its commitment for peace. </div> <div> </div> <div> With the Afghanistan conflict apparently moving towards a close, it is logical that Pakistan should engage in dialogue with select groups of Pakistani Taliban under a well structured framework. Pakistan is already facilitating such processes amongst America, Afghan Taliban and the Afghanistan government. </div> <div> </div> <div> Many analysts say that there is paradigm shift in the country’s security strategy. For instance, the top civil-military leadership has unanimously decided to hold peace talks with all militant groups, keeping the TTP on top priority. The move was hailed by even Taliban in Pakistan and they dubbed the move as an opportunity to hold a ‘meaningful dialogue’.</div> <div> </div> <div> It’s not the first time that Pakistan government has tried to open such talks. However, this time the approach is qualitatively different. This time Taliban are being referred to as “stakeholders.” The government plans to start the talks just as soon as intermediaries complete the necessary “groundwork”. It is encouraging that the Taliban Shura (the decision making body) has promptly convened its session to nominate its team. The TTP would announce its team once the government has finalised its interlocutors. The central leadership of the TTP has claimed that the Prime Minister Nawaz Sharif had sent a letter to the TTP about a possible peace dialogue and the TTP has replied to it.</div> <div> </div> <div> Pakistan’s national leadership also boldly addressed the sticky issue of American drone strikes. It described them as detrimental to the country’s efforts to eliminate terrorism and recommended that the government should consider taking up the issue to the United Nations. APC communiqué also termed the drone attacks an ‘illegal and immoral’ act. “We declare that we shall ourselves determine the means and mode of fighting this war in our national interest and shall not be guided by the United States of America or any other country in this regard.” Pakistani security officials also informed that there was no secret understanding with the US on the CIA-led drone campaign. Hopefully, an unambiguous official stance on drone attacks would help create a conducive environment for the envisaged negotiations. </div> <div> </div> <div> The APC called for a result-oriented and peaceful dialogue process to eliminate extremism from the country. Political leaders admitted that the situation has continued to deteriorate over the last several years and past efforts to control terrorist and extremist elements have not yielded the desired results.</div> <div> </div> <div> </div> <div> </div> <div> It is for this reason that peace talks with Taliban should be given a fair chance to succeed. There are forces which say that Taliban don’t want to be treated like that. However, these elements while speaking in such a tone do not give priority to the interest of Pakistan. </div> <div> </div> <div> These are mainly western voices which want Pakistan to go all out against Haqqqani net work. They must realize the fact that Haqqani network is Afghan entity. While responding to Hillary Clinton’s statement with skepticism, a senior Haqqani commander told Reuters on October 25, 2011 that the “Afghan Haqqani group will not take part in any peace talks with the United States which will not be able to find a possible solution to the Afghan conflict unless they hold talks with the Taliban—led by the Taliban leadership seriously. He revealed, “Americans had made several attempts for talks which we rejected as we are an integral part of the Taliban led by Mullah Omar…we are united to liberate our homeland-Afghanistan.”It is of particular attention that on September 17, 2012, in a rare interview by telephone from an undisclosed location, leader of the Haqqani militant network, Sirajud Din Haqqani disclosed that the group has become so confident after battlefield gains in Afghanistan that “it no longer has sanctuaries in Pakistan, and instead, felt secure inside Afghanistan.”</div> <div> </div> <div> What the world must realise is that Pakistan is a sovereign democratic country and the voice of democratically elected government and other political parties that suggest that talks with Taliban should be given a fair chance.</div> <div> </div> <div> World must also realize that collateral damages in form of drone strikes in Pakistan have resulted in germinating greater ill will against US/ISAF and ultimate sufferers are the people of Pakistan.</div> <div> </div> <div> The crux of the matter is that today Pakistan is the epi-centre of war against terrorism. Sacrifices rendered by Pakistani people in eliminating the menace of terrorism from the world are unparalleled. If we take a pragmatic view of developments in the region following USSR’s interruption in Afghanistan, Pakistan has played a key and very positive role. Today the whole Eastern Europe is enjoying freedom which is result of Pakistan standing tall in thwarting USSR.</div> <div> </div> <div> Situation in Afghanistan deteriorated as US and West changed their priorities and started focusing towards East Europe. 9/11 gave another dimension to the region and the world. Afghanistan has seen use of force and its after effects have been suffered by Pakistan. For the last 13 years this region is suffering with minimum achievements for a durable peace.</div> <div> </div> <div> The proponents of use of force do not want to see this region peaceful. To ensure their safety they are trying to create destruction in other parts of the world. It needs to be reiterated that today’s Pakistan has the capability and the political will to firm up a response against terrorists. No one but only the people of Pakistan can suggest a panacea for the problems that it is facing. The world must acknowledge and respect the decision which the political leadership of Pakistan has taken in holding talks with militants and terrorists.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism. In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan.', 'sortorder' => '1832', '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' => '1980', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief ( 21 - 27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Microbus Plunges into Trishuli, Two killed</strong></span></div> <div> Two passengers died when a microbus fell into the Trishuli River at Darechowk-9 on the Prithvi Highway last Monday. According to Area Police Office Muglin, the micro-bus (Ba.2Kha. 2598) was heading towards Kathmandu from Narayagadh when it plunged into the river below the road. The Police informed that it has intensified the search of other nine passengers missing in the river.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prez Underlines Peoples’ Contribution </strong></span></div> <div> President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>“We will garner two-third majority”</strong></span></div> <div> UCPN-Maoist leader Krishna Bahadur Mahara has claimed no forces can stop UCPN (Maoist) from garnering two thirds majority in the election. He argued that the people will vote for his party as it was the only one capable to develop the country while speaking at a programme in Rolpa last Thursday. Mahara said frequent change of government hinder the development of the nation and called for a stable government.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Anti-poll Activities will be Foiled”</strong></span></div> <div> Minister for Home Affairs Madhav Prasad Ghimire has said the government has made tight security arrangements to hold the upcoming Constituent Assembly (CA) elections in a free, fair and impartial atmosphere. Opening a regional seminar on security in Biratnagar last Thursday, Home Minister Ghimire said the government would not let those attempting to foil the election and create obstructions in the election process walk free. </div> <div> </div> <div> <span style="font-size:14px;"><strong>CA Failed Due to Federalism, Claims KC</strong></span></div> <div> Rastriya Janamorcha Chairman Chitra Bahadur KC has claimed that erstwhile Constituent Assembly failed to promulgate new constitution due to federalism. He added that the scrapping the issue of federal provision from the constitution was a need of the hour. Speaking at a press meet organised in Sandhikharka last Friday, leader KC said the idea of federalism was not the necessity of country. He claimed that the federalism was forcefully introduced following dictates of foreig power centers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Maoist Behind CA Failure”</strong></span></div> <div> CPN-UML Senior Leader Madhav Kumar Nepal has said that it was a result of the ego of the Maoists that the first Constituent Assembly failed to draft a new constitution. Speaking at a programme in Kathmandu last Thursday, the Former PM Nepal stressed the need of a win for the democratic forces in the November 19 CA elections to draft the new constitution.</div> <div> </div> <div> Koirala Hopeful of CA-2</div> <div> Nepali Congress (NC) president Sushil Koirala has expressed the confidence that the second Constituent Assembly (CA) would deliver a republic constitution in the country. Speaking at a programme in Nepalgunj last Wednesday, Koirala claimed that no force can beat the NC loser in the coming election citing growing public support to his party of late.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain.', 'sortorder' => '1831', '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' => '1967', 'article_category_id' => '46', 'title' => 'Etihad Airways’ Global Network Contributes To The Success Of Kathmandu Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 14px;">In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers. In addition to connectivity in between Abu Dhabi and Nepal, Etihad Airways offers its service to more than 87 destinations across the globe. New Business Age asked <strong>Pawana Shrestha</strong>, Etihad Airways’ Country Manager in Nepal about airline’s plan.<strong> Excerpts:</strong></span></div> <div> </div> <div> <strong>Etihad Airways recently celebrated its fifth year of operation in Nepal? How has the journey been?</strong></div> <div> Our services to Kathmandu have been a great success. Since the launch of the route in 2007 we have carried more than 570,000 passengers. In addition to carrying passengers between Abu Dhabi and Nepal, Etihad Airways offers seamless connections to more than 94 destinations around the world. Etihad Airways’ global network has been a major contributor to the success of the Kathmandu route.</div> <div> </div> <div> <strong>What are the future plans of Etihad Airways in Nepal?</strong></div> <div> We will continue to work closely with our travel partners to promote tourism to this beautiful country and carry more passengers to cities across our global network.</div> <div> </div> <div> Our close partnerships with the trade and travel industry in Nepal, has been instrumental in our success in Nepal, with the consistently high load factor across all cabins. We are very pleased to be making meaningful contribution to the Nepali economy.</div> <div> </div> <div> <strong>The United Arab Emirates (UAE) is a lucrative destination for many Nepali migrant workers. What is the percentage of migrant workers that Etihad cater to ?</strong></div> <div> We cater to a fairly large number of Nepali workers. However; we carry even more leisure passengers. In 2012 Nepalese workers made up around 30 per cent of our customer base, leisure passengers made up 50 per cent. The remaining were business and corporate travelers.</div> <div> </div> <div> <strong>Numerous other airlines are operating in Nepal. How tough is the market competition for Etihad?</strong></div> <div> Nepal is a very competitive market and there are around 28 airlines currently operating services to Kathmandu. The Abu Dhabi- Kathmandu route, however, has been very successful. This success is due to our commitment to providing our guests with a remarkable travel experience across their entire journey and our focus on delivering award winning product and services.</div> <div> </div> <div> <strong>What is your Marketing Strategy in Nepal?</strong></div> <div> Our Marketing strategy focuses on raising the profile of Etihad Airways in the Nepali market and increasing awareness of Abu Dhabi as a leisure destination. The core of our strategy, however, is providing an unbeatable product. </div> <div> </div> <div> Our marketing strategy involves working closely with our partners, travel agents, industry magazines and trade associations as well as by deploying various promotions, competitions and discount programmes throughout the year. These include tactical campaigns like regular breaking deals, online deals and highly discounted last-minute offers to encourage repeat visitors.</div> <div> </div> <div> <strong>What are your CSR programmes in Nepal?</strong></div> <div> Etihad Airways is committed to active participation in causes that support people and strengthen communities across its global network. </div> <div> </div> <div> In Nepal, our corporate social responsibility policy centers on projects that assist communities in need and, in the longer term, drive development and empowerment. Therefore, we support orphanages and education projects and homes for the elderly and through medical partners, support critical surgery and health services training.</div> <div> </div> <div> Recently we donated a large amount of waste paper to support a recycling initiative led by Shanti Sewa Griha, a non-governmental organisation providing shelter for the less privileged and fighting discrimination against leprosy patients in Nepal.</div> <div> </div> <div> In 2012 we donated care parcels, made up of packed lunches and blankets, to two social welfare organizations in Kathmandu to keep the less privileged safe from the piercing cold of Nepal.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-28', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers.', 'sortorder' => '1830', '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' => '1976', 'article_category_id' => '138', 'title' => 'Power Swaps Can Help APAC Manage Future Energy Needs: ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources," states the report entitled Energy Outlook for Asia and the Pacific. The report also forecast oil demand to grow by 2% a year, led by the transport sector, with newly affluent South Asians buying an increasing number of motor vehicles. "Natural gas demand will expand at the fastest annual pace of 4% because of the lower environmental burden and ease of use," says the ADB reoprt. The report provides in-depth data and projections on energy use at the sub-region, country, and sector levels until 2035, along with an analysis of the impacts of a “business as usual” approach to power, and an alternative approach in which countries scale up efficiencies and low carbon technologies.</div> <div> </div> <div> “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S. Chander, Special Senior Advisor, Infrastructure and Public-Private Partnerships at ADB. “Countries cannot meet these huge power requirements all on their own, so the region must accelerate cross-border interconnection of electricity and gas grids to improve efficiencies, cut costs, and take advantage of surplus energy.” The reliance on fossil fuels presents major pricing, energy security, and environmental challenges, with Asia and the Pacific’s carbon dioxide emissions set to double by 2035, making up more than half the world’s total output. Without reducing its heavy reliance on oil imports, using power more efficiently, and adopting more green energy options, the region will see a growing energy divide between the rich and poor, and increasing threats from climate change.</div> <div> </div> <div> "Using a mix of efficiency measures, advanced generation technologies, and greater use of renewable power could almost halve the projected annual rise in energy demand through to 2035. More efficient oil refining and gas processing, along with a reduction in demand for electricity, offer the bulk of the energy savings potential," says the report. </div> <div> </div> <div> The report also highlights opportunities for building on existing cross-border power exchange initiatives in Southeast Asia, South Asia, and Central Asia, with the ultimate goal of establishing a pan-Asia energy market by 2030. Closer cooperation will have other positive spinoffs including new economic opportunities and warmer relations.The report was prepared by a team from the Asia Pacific Energy Research Center of the Institute of Energy Economics, Japan, under an ADB regional technical assistance project.</div> <div> </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-28', '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' => 'Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources,"', 'sortorder' => '1829', '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' => '1978', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Canada and EU Agree Free-Trade Deal</strong></span></div> <div> Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr. Martens Up for Sale</strong></span></div> <div> Britain’s iconic Dr. Martens boots look set to find a new home, ending more than 50 years of family ownership. Sources familiar with the situation say the Griggs family is in talks to sell its 91.5% stake in the company to private equity firm Permira for £300 million ($486 million). Dr. Martens leather, lace up boots have been a signal of youth rebellion since they were first produced in 1960. Waves of subcultures -- from skinheads to punks and gothic followers -- have embraced the footwear.</div> <div> </div> <div> <span style="font-size:14px;"><strong>China’s Economic Growth Speeds Up </strong></span></div> <div> China’s economy powered ahead in the third quarter, taking some pressure off the country’s leaders as they seek to execute painful structural reforms. Gross domestic product grew 7.8% over the previous year during the third quarter, the National Bureau of Statistics reported Friday. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Shutdown encouraged foes, depressed friends’</strong></span></div> <div> US President Barack Obama has warned that America’s recent bout of political dysfunction had encouraged its enemies and dismayed its friends, and said the crisis left “no winners” in Washington. “Let’s be clear. There are no winners here,” Obama said. He spoke less than 11 hours after signing legislation that ended a 16-day government shutdown and a showdown over raising his government’s borrowing authority. </div> <div> </div> <div> <span style="font-size:14px;"><strong>WB Lowers India’s GDP Growth </strong></span></div> <div> The World Bank has revised downwards India’s economic growth forecast for the current fiscal to 4.7 per cent. This is against the 6.1 per cent growth projected in April. India’s GDP growth is, however, expected to accelerate to 6.2 per cent in 2014-15, the World Bank said in the latest India Development Update released on Wednesday. </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.', 'sortorder' => '1828', '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' => '1961', 'article_category_id' => '122', 'title' => 'Keyal Group’s Key Areas', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</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="Satya Narayan Keyal, Chairman, Keyal Group" src="/userfiles/images/spt2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Satya Narayan Keyal</strong></div> <div> <em>Chairman, Keyal Group</em></div> </div> </td> </tr> </tbody> </table> <div> The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.</div> <div> </div> <div> The first manufacturing unit was established in the mid-90s – a milestone for the family’s journey towards manufacturing. Narayani Rolling Mills Pvt Ltd, the first manufacturing venture of the group, has been producing steel products to meet local needs.</div> <div> </div> <div> According to Satya Narayan Keyal, Chairman of the group, the initial days of entering the manufacturing sector were not easy. In the absence of a robust banking sector, managing large scale funds for investment was not quite the same as it is today. “It was pretty tough to borrow loans as the banking sector was less developed,” recalls Keyal who believes that growing competition in the banking and financial industry in the 2000s has benefitted industrialists at large. However, the challenging environment provided various learning experiences to the group that helped design its next move for the future.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Market</strong></span></div> <div> While the group was gradually growing, the Nepali market was expanding as well. Keyal says that the market for manufactured goods has increased in recent times due to the growing purchasing power of the general public. He adds that technological advancement has helped the group’s factories produce better quality products that support companies in the increasingly competitive market. The competition is not always healthy and for Keyal Group, it is not an exception. Unhealthy competition has brought about difficult situations time and again, but the group holds on to its promise to deliver quality products, regardless.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Focus Areas of the Group </strong></span></div> <div> The Keyal Group has focused on the manufacturing sector with half a dozen industrial units specialised on production of steel rods, angles and flat squares, pipes, MS plates, shutter strips and cement. Steel products produced by Narayani Rolling Mills Pvt Ltd have been certified with Nepal Quality Certification Mark (NS). Likewise, Makalu Axum, a subsidiary company of the group is the authorised distributor for liquor of the Magic Moments brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/spt1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 440px;" />Capturing the Market</strong></span></div> <div> The target market for the group’s major products such as steel, cement, rods and pipes, among others, is the central and eastern regions of Nepal. The group does not wish to remain confined to these areas and is planning to explore more market potential within and outside the country. “We have a big market presence in the central and eastern regions and have plans to export our products to India in the near future,” says Keyal. As a part of this plan, the group plans to export pipes manufactured by Shree Krishna Steel to India.</div> <div> </div> <div> The group has adopted a policy to not compromise with the quality it is offering. With state-of-the- art technology and service to produce quality products, Keyals says: “We have understood the needs and demands of our clients and have targeted products accordingly. But our products are by no means expensive.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Structuring Management</strong></span></div> <div> According to Keyal, each human resource staff and management unit are attuned to realise the company’s policy of zero compromise in quality, offer products at a relatively lower price, and remain accountable and responsible to the market, customers and promoters. </div> <div> </div> <div> Similarly, the group has always treated its employees as member of its extended family. When it comes to human resource management, the group has attempted to understand the necessities and aspirations of its employees and motivate them accordingly. For motivation, the group has been using rewards and encouragement while adhering to organisational discipline, culture and responsibilities.</div> <div> </div> <div> The group has 350 employees working in its manufacturing unit and sister companies while another 350 are working along the market value chain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Addressing Challenges</strong></span></div> <div> A key challenge the group is facing at the moment is duplication of products that has tarnished the image of the common market. Availability of counterfeit products has prohibited market growth and expansion. Additionally, in the absence of major construction and infrastructure projects in the country, the market of construction materials, where the group has expertise, is limited to the consumer market instead of reaching large scale institutional clients. According to Keyal, the slowdown of the housing and real estate industry has affected construction material producing subsidiaries. However, the group has not lost hope. It has held on to the belief that a market can be created and clients can be attracted by offering quality products at reasonable price. With this philosophy, the group has been working to expand its market and attract customers towards its projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Constant Hope</strong></span></div> <div> Some business and industrial houses have constricted their operation and even closed down their companies citing political instability and a murky business environment. But the Keyal Group chooses to see the light at the end of tunnel. Keyal hopes for political stability to speed up the economic growth of the country which would boost construction and development projects. “It would also create higher demand for our products. We are hopeful and are waiting for that moment to arrive soon,” he says.</div> <div> </div> <div> <span style="font-size:14px;"><strong>CSR</strong></span></div> <div> The group has been consistently involved in corporate social responsibilities and has believed in giving back to society throughout the years. Similarly, the group has contributed to the construction of temples and funded religious activities in Birgunj and surrounding areas. Alongside this, the group has contributed to post-conflict reconstruction of infrastructure that has benefitted a larger number of people.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong style="font-size: 16px;">Some Companies under the Keyal Group</strong></div> <div> <div> </div> <div> <span style="font-size:14px;"><strong>Narayani Rolling Mills</strong></span></div> <div> This steel manufacturing unit located in Chhatapipara of Bara district produces TMT steel rods ranging from 8mm to 25 mm and plain rods of 8 to 36 mm. TMT steel products have been certified Nepal Quality Certification Mark (NS). The unit also produces flat square rods, angles and tor-karis among others. The group claims that this is probably the first company in Nepal to produce a large variety of products required for construction projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Shree Krishna Steel Pvt Ltd</strong></span></div> <div> This steel factory at Jitpur, Bara district produces MS Black Pipe (0.5 to 6 inches), MS plates, shutter strips, and shatter guides, among others. It also produces hot rolled sheets, MS pipes, shutter section and related products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Star Cement Udhyog Pvt Ltd</strong></span></div> <div> This cement producing unit located at Jitpur, Bara district produces cement and markets PSC products under the ‘Arati’ brand, and OPC products under the ‘Shikhar’ brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Makalu Axum</strong></span></div> <div> This is the importer and authorised distributor of Magic Moments liquor for Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Enterprises</strong></span></div> <div> This subsidiary of the group imports various consumer products from India and other countries to distribute across the country. The company is also based in Birgunj.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Hardware</strong></span></div> <div> The hardware product distributor has its network spread over major cities like Kathmandu, Banepa, Butwal and Itahari.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Landmark Years:</strong></span></div> <div> 2052: <span class="Apple-tab-span" style="white-space:pre"> </span>Establishment of Narayani Rolling Mills Pvt Ltd, the first manufacturing unit of Keyal Group.</div> <div> 2056: <span class="Apple-tab-span" style="white-space:pre"> </span>Shree Krishna Steel Pvt Ltd, second manufacturing unit of the group, was established.</div> <div> 2060: <span class="Apple-tab-span" style="white-space:pre"> </span>Star Cement Udhyog Pvt Ltd was established. It produces PSC and OPC grades of cement. </div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.', 'sortorder' => '1827', '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' => '1960', 'article_category_id' => '91', 'title' => 'Informal Trade Still A High In South Asian Region By The Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. </div> <div> </div> <div> South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week. </div> <div> </div> <div> The audit report will aim at providing factual information on the reliability and efficiency of transportation infrastructure, logistic operations, customs and border management regulations and procedures, said research director at SAWTEE, Pushpa Sharma. </div> <div> </div> <div> The audit report is expected to reveal the status of customs facilitation for bilateral trade among South Asian countries, according to Sharma. “After the study of trade facilitation at a bilateral level, the study will focus on identifying regional problems regarding trade facilitation,” he said.</div> <div> </div> <div> Informal trade is still a big challenge in the region but we do not have any authentic data, he said. The audit will not directly calculate the volume of informal trade but will study the causes of informal trade and recommend appropriate measures to reduce the volume of informal trade.</div> <div> </div> <div> Costs related to trade facilitation, infrastructure and transit have risen over the years, which has promoted informal trade in South Asia, according to experts. </div> <div> </div> <div> Effective trade integration is necessary to reduce the cost burden, said former member of National Planning Commission, Dr Posh Raj Pandey. “Trade facilitation is a must to improve overall cost related trade barriers but we should have a benchmark to improve the condition of trade facilitation,” he said, adding that the audit will provide the benchmark with all trade barriers in the formal channel.</div> <div> </div> <div> Despite the fall in traditional trade barriers, the given circumstances in the region have forced exporters, businesses and consumers to bear additional cost burden, according to him. </div> <div> </div> <div> Economist Dr Ratnakar Adhikari said that generally, costs are incurred due to lack of regional trade connectivity and impenetrable borders. Regional commitment is required to address the identified bottlenecks, he further said. </div> <div> </div> <div> Iqbal Tabish, Secretary General of the SAARC Chamber of Commerce and Industry, mentioned that benefits of trade liberalization will not be realized unless trade facilities are rationalized.</div> <div> </div> <div> Finance minister Shanker Prasad Koirala stated that the cost of trading within the region among South Asian countries is twice, and in some cases, even three times, than trading with countries outside the region.</div> <div> </div> <div> Despite the existence of several regional efforts, such as Agreement on South Asian Free Trade Area (SAFTA), intra-regional trade in South Asia has remained extremely modest due to a number of factors, one of which is trade and transport facilitation-related bottlenecks.</div> <div> </div> <div> In a separate programme organised by International Finance Corporation (IFC), chief secretary Lila Mani Paudyal said that the government is committed to improving its trade competitiveness. “Reducing the time and costs to international trade, in particular, is critical for the Nepali private sector to compete internationally and access global markets,” he said. </div> <div> </div> <div> </div> <div> The Department of Customs is implementing its four year Customs Reform and Modernization Strategy and Action Plan since July 2013 which comprises of four building blocks: Trade Facilitation, High Revenue Yield, Organizational Development, and e-Customs, according to Surya Prasad Acharya, Director General of the Department of Customs. </div> <div> </div> <div> IFC is committed to enhance trade facilitation including focusing on simplifying border processes & procedures, and improving risk management systems, said IFC Resident Representative in Nepal Valentino S Bagatsing. “The reforms in the trade environment will provide a much needed boost as Nepali businesses position their products in accessing global markets,” he said.</div> <div> </div> <div> IFC’s South Asia Regional Trade Integration programme aims to assist the government in focusing its reform efforts to create an enabling environment for improving trade facilitation and logistics. IFC works with both private sector and government agencies in identifying areas where reform efforts can help maximize improvements for the private sector to improve cross-border trade and investments.</div> <div> </div> <div> <div> <span style="font-size:14px;"><strong>Main Explanatory Factors for Informal Trade </strong></span></div> <div> •Businesses have incentive to escape trade related regulations and duties </div> <div> •Complex, non-transparent or divergent regulatory requirements (e.g., customs formalities, technical regulations and sanitary standards) </div> <div> •Long and costly customs delays when trading formally</div> <div> •Obstructed entry or exit of certain commodities, caused by import quotas or export bans </div> <div> •Foreign exchange controls</div> <div> •Weak law enforcement at the borders</div> </div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week.', 'sortorder' => '1826', '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' => '1959', 'article_category_id' => '201', 'title' => 'Fashion Means Business In The Corporate World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality.</div> <div> </div> <div> Corporations usually insist on having dress codes because they know that the way you look is speaking about yourself without words. If you look a certain way it’s like introducing yourself. Corporations are usually not associated with fashion, but they are so much, and this is why we want to introduce to you this term.</div> <div> </div> <div> Fashion means business. Fashion is an essential tool when you address to someone. Style is an international code and carrying a message with the perfect style is indispensable. You know that our philosophy is that fashion and attitude and may we add intelligence, go hand in hand.</div> <div> </div> <div> Talent, enthusiasm and learned lessons need to be crowned with the perfect look. Fashion is the physical expression what lies on the inside. Art director Fabien Baron says: “I like beauty, but it needs to vibrate.” And that is a true thing.</div> <div> </div> <div> Dressing up for business is basically the definition of professional dressing.</div> <div> </div> <div> Just like in business, in fashion you need to find your formula and take it to the highest level you can.</div> <div> </div> <div> Fashion, just like the business world, is dynamic and always changing. Keeping up with the trends is a must, but the basic rules are always the same.</div> <div> </div> <div> Even if there are hundreds of rules, you can still achieve greatness. The more constrains you have, the more creative options you have. (With inputs from agencies)</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality', 'sortorder' => '1825', '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' => '1958', 'article_category_id' => '137', 'title' => 'Economists Fear Debt Ceiling Fight May Bring Recession', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.</div> <div> </div> <div> A couple more say a recession is possible depending on how far past the deadline Congress goes before acting. And even those who aren’t predicting recession say not raising the debt ceiling would be a very bad idea.</div> <div> </div> <div> “Financial markets are already being impacted in the short-run as a result of heightened uncertainty,” said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. But he said there would be greater long-term damage due to the spending cuts that would occur.</div> <div> </div> <div> “The fiscal shock treatment of having to eliminate the deficit in one fell swoop would reduce GDP by more than 5% and cause a severe recession,” he said.</div> <div> </div> <div> The Treasury Department has also been sounding the warning bells about the debt ceiling. In a report Thursday, Treasury said failure to raise the limit would have a “catastrophic effect” on the economy, sparking an even deeper recession than the 2008 downturn that accompanied the meltdown in financial markets.</div> <div> </div> <div> The economists agree the threat posed by not raising the debt ceiling is significantly greater than that posed by the federal government shutdown that started Tuesday. None predicted a recession being caused by the shutdown alone.</div> <div> </div> <div> “A short to medium duration partial shutdown is not enough to cause recession,” said Sam Bullard, economist with Wells Fargo Securities.</div> <div> </div> <div> But if the debt ceiling isn’t raised, the economists have many different worries, including disruptions in financial markets, followed closely by a loss of confidence in the dollar and Treasuries and very deep cuts in government spending.</div> <div> </div> <div> “No one can know for sure exactly what would happen in the event of a default, but we can all be sure that it would be bad,” said Russell Price of Ameriprise Financial.</div> <div> </div> <div> Even those economists who aren’t predicting a recession are worried about the risks posed by the debt ceiling.</div> <div> </div> <div> “Merely missing the debt ceiling deadline will not trigger a recession, but the risks will rise rapidly with each week after the deadline passes,” said Patrick O’Keefe, director of economic research at accounting firm Cohn Reznick.</div> <div> </div> <div> Some of the economists believe if Congress doesn’t raise the debt ceiling then the administration will act unilaterally. That might cause a constitutional crisis but they believe it would avoid a financial crisis.</div> <div> </div> <div> “My expectation in this scenario is that the President finds a sufficiently plausible constitutional rationale to ignore the debt ceiling and keep on meeting all US Federal obligations on time with no exceptions,” said Bill Cheney, chief economist with Manulife Asset Management.</div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">US Debt Crisis Threatens World Economy: IMF</strong></p> </div> <div> Terming the current debt crisis in America as “mission-critical”, the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. “The ongoing political uncertainty over the budget and the debt ceiling does not help. The Government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the US economy, but the entire global economy,” the IMF Managing Director, Christine Lagarde, said on Thursday. “So it is “mission-critical” that this be resolved as soon as possible,” Lagarde said in her address to the George Washington University. The United States, she said, needs to “slow down and hurry up.” By that she meant less fiscal adjustment today and more tomorrow, she added.“That means replacing the sequester with more back-loaded measures that do not hurt the recovery. At the same time, the US needs to do more to make debt sustainable down the road — by containing the growth of entitlement spending and raising revenues,” Lagarde said.</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.', 'sortorder' => '1824', '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' => '1957', 'article_category_id' => '116', 'title' => 'Nexus Announces Cisco Select Certified Partner Status', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="" src="/userfiles/images/nexus.jpg" style="width: 500px; height: 71px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security. Cisco is ranked second in x86 Blade Servers as per IDC’s Q2 2013 figures. Nexus Solutions provides the complete suite of Cisco solutions and has certified and qualified Cisco resources to design, implement and support Cisco solutions for enterprise and SMB customers in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Partners with XRoads Networks</strong></span></div> <div> Similarly, Nexus Solutions also signed up with XRoads Networks as an authorized partner. XRoads Networks is the inventor of Unified Bandwidth Management Solutions and its product features include Accelibond Internet Link Bonding, Adaptiband Dynamic Bandwidth Management, Site2Site VPN Virtualisation, Xflow Real-time Network Reporting, ActiveDNS Inbound Load Balancing, Server Load Balancing, MultiWAN Link Load Balancing, Application QoS/Throttling & Comprehensive Cloud Firewall/LAN Router. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security.', 'sortorder' => '1823', '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' => '1956', 'article_category_id' => '190', 'title' => 'Samsung Galaxy Note 3 + Galaxy Gear Smartwatch: A Smart Combo', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Note 3 </strong></span></div> <div> The Galaxy Note 3 is the third in the line of Samsung's popular Note 'phablet' series. This time it has just become even more powerful and bigger. Powered by a 1.9 Ghz octa-core Qualcomm Snapdragon 800 processor along with 3 GB of RAM and Adreno 330 (N9005) GPU, the Galaxy Note 3 runs on Android 4.3 Jelly Bean with the latest Samsung Touchwiz UI overlay. The Samsung Galaxy Note 3 has a 5.7-inch Full HD display that comes with the latest edition of Samsung’s S-Pen stylus. The 1920x1080 resolution (386 pixel density) of Super AMOLED capacitive touchscreen displays vibrant colours giving sharp and crisp experience to the users. The sheer power of Note 3 turns the phablet into the most powerful smartphone available in the market till date. With these specs, users can easily do their computing needs including high-end mobile gaming and smart multitasking. The powerful processor and mammoth RAM size helps to instantly load apps with no noticeable lag. Though being a phablet, users won't feel it too large in their hands as the Note 3 is thin at just 8.9 mm and weighs around 168 grams. </div> <div> </div> <div> The Note 3 sports 32 GB internal storage. The phablet also houses a micro SD card slot which can be used to expand the storage capacity up to 64 GB. The Note 3 comes with enhanced privacy and security protection provided by Samsung KNOX feature. Users can activate Samsung KNOX with ease which allows them to run and store security-sensitive applications and data inside a protected execution environment called "container." Furthermore, the phablet is equipped with an improved "Find My Mobile" feature that allows users to disable the phone when it is stolen or lost. The Note 3 sports USB 3.0 support, which makes transferring movies and music to the device much faster than most other smartphones. The phone has 4G LTE, Bluetooth 4.0, Wi-Fi, Near Field Communicator (NFC) and Infrared for internet and other kinds of connectivities. </div> <div> </div> <div> The phablet also has decent power backup as it comes with a 3,200 mAh battery. The Note 3 houses a 13 megapixel camera at the back side which produces clean, colourful and sharp images in decent lighting. The camera is capable of capturing ultra high-definition 4K video. Similarly, for 3G calls the phablet sports a 2 MP front facing camera. The build quality of the phone is another striking feature. Unlike other smartphones with plastic back panels, Samsung has covered the back panel of Note 3 with leather which gives users a premium and exclusive feel. Samsung Galaxy Note 3 is priced at Rs 91,500 in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Gear </strong></span></div> <div> Another attraction of the launch event was Samsung Galaxy Gear smartwatch. The highly anticipated wearable gadget not only lived up to the hypes but also gave a glimpse of the changes occurring in the technology market. The Galaxy Gear seems to be changing the way of wearing wristwatch and managing the digital life of users in the near future. The stylish computerised watch allows users to check their e-mails, messages and take photos. The Gear also lets users make and take phone calls right from the wrist using a built-in speaker and microphone. The 1.64 inch Super AMOLED touch screen of the smartwatch has 320 x 320 pixels resolution with an image density of 277 ppi. It comes with an 800 Mhz processor, 4 GB internal storage and a 1.9 MP camera that is attached to the left side of hand strap. Samsung has linked the Gear with Galaxy Note 3. Galaxy Gear will notify users and give quick previews of incoming texts, e-mails and more from synced Note 3. Similarly, users can click videos and images from the Gear and transfer it to their Note 3 device via Bluetooth 4.0 connectivity. The Gear also sports an accelerometer and a gyroscope. This wearable computerised wristwatch carries a price tag of Rs 46,500 in the Nepali market. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu.', 'sortorder' => '1822', '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' => '1970', 'article_category_id' => '37', 'title' => 'Commercial Bench In Nepali Courts Prospects And Challenges', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Rudra Sharma</strong></div> <div> </div> <div> The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address. However, there were demands of a commercial court/bench for the last 20 years or so. People in seminars organized by Nepal Rastra Bank in association with the World Bank and International Monetary Fund identified the need of a commercial court/bench in Nepal for appropriate and speedy dispensation of justice in commercial case.</div> <div> </div> <div> In 2063 BS, the Supreme Court has set up a task force on this regard. The task force reviewed several exercises together with some international practices for establishment of Commercial Bench. The Task Force studied the reports of Court Management Committee, 2055 Court Strengthening Committee, 2058 and the Five Year Strategic Planning of the Court (2061- 2066). The Ministry of Law and the Ministry of Industry had also carried out some consultation with the Supreme Court in the year 2059 for the establishment of Commercial Court.</div> <div> </div> <div> A project carried out under the loan assistance of Asian Development Bank namely Improving Legal Enforcement Mechanism and Judicial Capacity had a component called Establishment of Commercial Bench under its package 2 activity. From Manshir 2059, this project carried out activities on establishment of Commercial Bench. This project had hired an expert Hon. C.</div> <div> </div> <div> W. Pincus QC who submitted a report recommending a number of things on establishment of commercial bench. Nepal Judicial Academy (NJA) also worked very closely with this project on the Commercial Bench component. This project had also worked with private sectors like Federation of Nepalese Chambers and Commerce and Industry (FNCCI) and others in this course.</div> <div> </div> <div> According the report of the Task Force, Commercial Cases Baseline Survey, 2003 carried out by Nepal Law campus presents 17 different kinds of cases as commercial cases tried and tested in several courts all over the country. The 17 different kinds of cases are - Company, Secured Transaction, Contract, Insolvency, Banking and Negotiable Instruments, Arbitration, Intellectual Property, Finance, Foreign Investment, Insurance, Security Transaction, Agency, Partnership, Construction, Leasing/Rent, Transportation and any others.</div> <div> </div> <div> Analysing the evolution of concept of Commercial Bench and a comparative study on commercial dispute settlement of some other countries like United Kingdom, United States, India and China, the Task Force has finally put forth 26 suggestions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Establishment of Commercial Bench </strong></span></div> <div> On 2065 Magh 1, the government of Nepal established a Commercial Bench in four Appellate Courts namely Biratnagar, Patan, Butwal and Nepalgunj and later added Hetauda Appellate Court also through a notification on 2067 Baisakh 1. These Commercial Benches are provided with jurisdiction to look after cases of Secured Transaction Act, 2063, Competition Promotion and Market Promotion Act, 2063, Company Act, 2063 and Insolvency Act, 2063.</div> <div> </div> <div> Later, the government of Nepal, through a notification published on 2065 Shrwan 5, extended the jurisdiction of the Commercial Benches for the disputes under Banking Offence and Punishment Act, 2066. Most of the cases going to Commercial Bench were filed in the Commercial Bench of Patan Appellate Court. Some 99 commercial cases were filed in the Patan Appellate Court up to the fiscal year 2067, some 154 cases were filed in the fiscal year 2067/068, some 237 cases were filed in the fiscal year 2068/069 and some 263 cases were filed before the completion of the fiscal year 2069/070.</div> <div> </div> <div> After the establishment of the Commercial Bench, a procedure for the same was supposed to be made. In fact, a procedure is also drafted. However, the procedure has not come into force. Company Act, 2063 and Competition & Market Promotion Act, 2063 have provided that lawsuits under these Acts should follow summary proceeding. The Insolvency Act provides for a procedure within itself and that procedure is being followed now generally.</div> <div> </div> <div> No special procedure is prescribed for Secured Transaction Act and Banking Offence Act. These two Acts seem to follow general procedure. Despite the lack of a specific procedure for the Commercial Bench, Chief Judge of the Appellate Court where the Commercial Benches reside have provided for necessary procedural matters as and when required. For example, cases of Commercial Bench are heard by a division bench, other cases related to the case filed in the Commercial Bench are also heard in Commercial Bench, so on and so forth.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Commercial Bench & Expectations</strong></span></div> <div> The primary expectation with the Commercial Bench was that it would look after all the commercial cases gradually. It was a good beginning that the Commercial Bench was assigned to hear cases under three categories and later under five categories. However, it was very unfortunate that the jurisdiction of the commercial bench was not extended to other cases under other Acts.</div> <div> </div> <div> The basic benchmark to evaluate the function of the Commercial Bench is its comparative worth and value, i.e. what and how it contributed compared to previous court system where there were not Commercial Benches. There are hardly any evidences that the Commercial Bench could prove its worth. This is because, we already have had a regular court system and the Commercial Bench was brought to existence for a better performance and better dispensation of justice with respect to commercial cases. But, unfortunately it did not happen.</div> <div> </div> <div> The Task Force report mentions that the erstwhile judiciary of Nepal was looking after some ten kinds of commercial cases even if there were no such commercial benches. The cases were - dispute related to loan or credit, dispute about security or pledge, dispute related to buying and selling of property, dispute related to trademark, dispute related to commercial loan, dispute related to liquidation of company, dispute related to shareholders of company, Torts related trade and commerce and other economic cases.</div> <div> </div> <div> According to primary expectations and the decade long preparations, the scope of the Commercial Court was supposed to be extended to other commercial cases too and subsequent legal reform as well as administrative reform were also supposed to be made in order to pave a way for the same.</div> <div> </div> <div> It did not happen unfortunately, and this proved to be a major setback for creating condusive environment for invitation of foreign investment in Nepal and also for maintaining as well as retaining investment in Nepal. The exact expectation of about the Commercial Bench was to develop it as a real center for commercial dispute settlement.</div> <div> </div> <div> The Task Force report states that the concept of commercial bench was evolved in an endeavour to create sufficient legal and judicial environment for business as well as economic activities. But we can hardly find evidences to understand how the commercial bench contributed to create such environment. However, it does not mean that the commercial bench did not do anything. But, it should be judged in comparison to the contribution of the regular court system before establishment of commercial bench. According to the Task Force report, the regular court system was looking after 10 different kinds of commercial cases. As the commercial benches took up only cases under five categories, it gave a kind of impression that commercial cases are related to those five cases only.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Challenges</strong></span></div> <div> The major challenge of the Commercial Bench is the mindset of the judicial leadership. The judicial leadership probably thinks that the regular Appellate Courts would be less important if all commercial cases would go to the Commercial Bench. I wish to be wrong at this point. But, it would be very dangerous if the judicial leadership continues to be influenced by such thinking.</div> <div> </div> <div> Another challenge is the lack of competent human resources required for the Commercial Bench. This challenge can be overcome with appropriate will power and leadership of the judicial administration. We cannot import or invent such competent human resources. However, there would be no additional cost for managing the resources already available in the market.</div> <div> </div> <div> On the one hand, commercial cases are not coming to the Commercial Bench due to lack of proper legal arrangements on jurisdiction and on the other hand, there are competing and repeating jurisdictions for the dispensation justice through commercial cases. Several cases are put in arbitration process. Almost all of them are commercial cases. But, the appeal on arbitration settlement goes to the Appellate court but not to the Commercial Bench. The Debt Recovery Tribunal hears cases relating to debt recovery of the banking institutions. Revenue Tribunals look after cases related to taxes. Labour Court hears the cases related to labour issues.</div> <div> </div> <div> The money laundering related cases are handled by the money laundering department. Corruption cases are handled by Commission for the Investigation on Abuse of Authority (CIAA). Criminal Investigation Bureau of Nepal police also carries out investigation in some commercial cases.</div> <div> </div> <div> Thus, the commercial cases are scattered and thereby losing the scope of making the Commercial Bench a hub for settlement of commercial disputes.</div> <div> </div> <div> The Commercial Bench has jurisdiction over the Banking Offense Statute, but it does not have jurisdiction over Banking and Financial Institutions Act (BAFIA). It has been ridiculous practically. Such examples are there in other sectors too.</div> <div> </div> <div> Some of the practices of Appellate Court where the Commercial Bench resides have defeated the very purpose of the Commercial Bench. A case demanding for interim relief does not go to the Commercial Bench. Regular Bench hears it. Once a party receives interim order, it keeps on postponing the hearing date, pending the interim order. Sometimes, such cases are postponed for many times even from the weekly calendar putting a trouble to the opposite party to even to identify whether the hearing date was postponed or not.</div> <div> </div> <div> Such practices are serious fraud on the administration of justice and responsible persons must be punished.</div> <div> </div> <div> In most of the times, dispute on contract cases that happen to be commercial cases do not go to Commercial Bench. The prevailing contract law has provided interim relief in the form of appropriate order. In such situation, the existence of Commercial Bench happens to be a great irony.</div> <div> </div> <div> Great difficulty is experienced in Nepal for administration of contract, especially international contract. The courts generally provide stay order depriving the aggrieved party from carrying out the necessary activities according to the contract. Such a situation causes great mockery of the existence of the Commercial Bench.</div> <div> </div> <div> Due to the above reasons, the expectation that Commercial Bench would establish a minimum predictable legal environment on doing business in Nepal remains a distant dream. This has put a great threat for the invitation of foreign investment in Nepal. The Commercial Bench should overcome all these challenges in the time to come.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Experiences of India on Commercial Bench</strong></span></div> <div> In the year 2009, the Lok Shaba of India passed the Commercial Division of High Court Bill, 2009. But, the Bill is yet to be passed by the Rajya Saba.</div> <div> </div> <div> The Bill envisages separate divisions in each high courts to handle commercial disputes above certain value along with a procedure for the same. In the same year 2009, the Delhi high court established arbitration center and gave a message that the Indian judiciary was not anti-arbitration. In the same year 2009, London Court of International Arbitration set up a center in India. These two institutions paved way for institutional arbitration in India as an effective tool for settlement of commercial disputes.</div> <div> </div> <div> The Indian courts have made controversial interpretations of the Indian Arbitration & Conciliation Act, 1996. In the case of SBP & Co versus Patel engineering the Indian Supreme Court upheld the role of courts in appointment of arbitrator if one of the parties fails to nominate an arbitrator. This decision has been criticized as it put a great hurdle to separate arbitration from court. But in the year 2012 September, the Indian Supreme Court in the case of Bharat Aluminum Company Ltd. ( BALCO) versus Kaiser Aluminum Technical Service ruled that the Indian Arbitration Act will not apply if the arbitration proceeding are held outside India. This ruling of the Indian Supreme Court has been praised from many quarters as it has helped to separate domestic and international arbitration as well as separating arbitration from the courts.</div> <div> </div> <div> It seems that the establishment of arbitration center at the Delhi high court demonstrates the willingness of Indian judiciary to make the high court as hub of settling commercial dispute and the Supreme Court ruling of</div> <div> </div> <div> 2012 in the case of BALCO shows the willingness of Indian judiciary to separate arbitration from judiciary. It seems that these all issues will be categorically addressed by the pending Bill called the Commercial Division of High Court Bill, 2009. The underlined aim of all these schemes would be making India a preferred investment destination as the courts will provide a minimum predictability on legal environment.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>International Dimensions</strong></span></div> <div> Nepal became member of World Trade Organization (WTO) nine years ago making several commitments for harmonization as well as standardization of administration of trade law in accordance with the provisions of the United Nations Commission on International Trade Law (UNCITRAL). Section 34 of the Arbitration Act, 2055 provides for enforcement of foreign arbitral awards.</div> <div> </div> <div> But, there are some cases where the Appellate Court has refused for enforcement of some foreign arbitral awards and the appeal on such decisions of the Appellate court are pending at the Supreme Court. Our legal ecosystem should be clear at this point and the commercial bench should take lead on this.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How Commercial Bench should be </strong></span></div> <div> Therefore, the commercial bench in future should be able to be a hub and ultimate resort for the settlement of disputes related to commercial laws.</div> <div> </div> <div> Further, it should be established as a center of trust among the investors as well as among the public that the commercial bench ensures settlement of commercial disputes in tune of time. It will not be necessary that the commercial bench itself hears all disputes. But it should be the ultimate resort for settlement of such disputes. For this purpose, we need to make legal as well as administrative mechanisms that all commercial law related cases can ultimately reach to the commercial bench.</div> <div> </div> <div> We can continue separate arrangements of hearing commercial law related cases at the court of first instances like Labour Court, Revenue Court or Tribunal, Debut Recovery Tribunal. Besides, we also need to encourage to settle commercial law related cases through the means of alternative dispute settlement like arbitration, mediation, conciliation etc. However, commercial law disputes settled in all these court of first instances and cases settled through alternative dispute settlement mechanism should ultimately find their way to the commercial bench. Such arrangements should be all over the country not only in Kathmandu. We can make an arrangement that disputes involving certain amount or above should go directly to the commercial bench instead of the court of first instances.</div> <div> </div> <div> The commercial bench should also take over the newly emerging commercial cases. Cases related to banking institutions are prominent example, such as cases related to bounced, dishonoured of cheques, debt recovery and banking offence. There is a need of legal as well as administrative provisions on asset management. Lack of this has hampered expected functioning of banking system.</div> <div> </div> <div> The commercial bench in future should look after comparatively complex cases on banking law. There is a room to argue that the Banking Offenses Act seems to be draconian, providing scope for being misused. This Act is disproportionate since this gives higher hand to the regulating body Nepal Rastra Bank to take such action that may kill the institution instead of correcting it and functioning it again after action from Nepal Rastra Bank.</div> <div> </div> <div> Nepal Rastra Bank may feel the need of such law since the court system is not effective as mentioned above. However, a draconian law would not be an answer for non-effective court system. So, we need to improve the court system rather than practicing draconian laws. We need such legal system where the central bank can take action against the banking institutions for corrective measures, put them in the legal process and the banking institutions again functions after the central bank takes action. Taking action by central bank against banking institution should be a regular process rather than a fateful disaster.</div> <div> </div> <div> Other newly emerging cases on commercial law are related to money laundering, insolvency and trans-border commercial cases. Money laundering is a part of criminal law. But since it is a matter of financial crime but still it can be seen within the parameter of commercial law. International commitments as well as domestic needs have compelled to make the legal as well as administrative regimes on money laundering more stringent. It is said that this regime in the offing will compel to change over 40 prevailing laws on administration of criminal justice. The future commercial bench should be a center for hope and trust for the settlement of cases related to these all emerging commercial laws.</div> <div> </div> <div> The commercial bench should have a proper reporting system. The cases settled by commercial bench should be discussed publicly in the Bars and among the academics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Conclusion and Recommendations </strong></span></div> <div> Though Commercial bench could not prove its expected significance as we need to appreciate the initiations made and need to continue efforts to update and standardise it in accordance with need of the day.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Recommendations</strong></span></div> <div> 1. We need to seriously review the efforts made till date for establishment of Commercial Bench together with mapping the expectations made during such endeavours.</div> <div> 2. We need to extend the scope as well as jurisdiction of the commercial bench ensuring that all commercial cases either directly go to the commercial bench or go to other courts or tribunals that are supervised by the commercial bench.</div> <div> 3. There should be commercial benches covering all jurisdictions of Nepal.</div> <div> 4. Some cases having commercial issues may not go to commercial bench if such cases have monetary value in the disputes less than prescribed. Principally, it should be determined that commercial bench is to serve the purpose of establishing a preferred destination for investment, and therefore, it serves the creating conducive atmosphere for investment rather than establishing judicial principles. Prolonged judicial process and lengthy interpretations of statues can be done in regular courts not by commercial benches.</div> <div> 5. Among the commercial bench all over the country, there should be one commercial bench at the center Kathmandu with fast tract procedure. Commercial cases with certain threshold of investment and some other special circumstances should only go to this Fast Track Commercial Bench. Such arrangement would boost up confidence of investors.</div> <div> 6. There should be proper reporting system of the cases decided by the commercial benches so that the legal community as well as business community can provide feedback on the decisions by carrying out discussion on them.</div> <div> 7. There should be special efforts for legal reforms in order to accomplish the task of transforming the present commercial bench so that it can carry out all above mentioned matters.</div> <div> 8. Administration of commercial cases and legal reform should be carried out considering the international commitments of Nepal under WTO, UNCITRAL and other similar mechanisms.</div> <div> </div> <div> 9. Success stories of some countries like Singapore should be considered and we need to make analysis why Singapore scores over India on settlement of corporate conflict.</div> <div> </div> <div> <em><span style="background-color: rgb(240, 255, 240);">(Based on a paper prepared under an assignment of Commercial Law Committee of Supreme Court Bar Association. The writer is associated with Transactional Law House, an international law firm based in Kathmandu. He can be reached at rudralawyer@gmail.com. Cell- 9851057087.)</span></em></div> <div> </div> <div> <hr /> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>“Lacunae in the legal system need to be minimised to attract foreign investors”</strong></span></div> <p> </p> <div> <strong style="font-size: 14px;"><img alt="Shreekant Poudel, the spokesperson of the Supreme Court" src="/userfiles/images/ep1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />Shreekant Poudel</strong><span style="font-size: 14px;">, the spokesperson of the Supreme Court, in an interview with Britant Khanal of New Business Age he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Exceprts:</strong></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Could you highlight the reason behind establishing the commercial bench?</strong></span></div> <div> The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the Second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don’t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></span></div> <div> In the process of establishing this bench we had to train judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as it required. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? </strong></span></div> <div> We are still in the initial phase of establishing the bench. As I know, the initial requirement was to set up a separate commercial court, which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, patents are heard by the department of industry, and many other cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div> <div> </div> <div> Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues including intellectual property and cases of revenue tribunal. We are striving to bring all of these cases under the commercial bench.</div> <div> </div> <div> <img alt="Fiscal Year 2069/70 Cases Regarding Commercial Bench." src="/userfiles/images/ep2.jpg" style="width: 500px; height: 187px; margin-left: 20px; margin-right: 20px;" /></div> <div> <span style="font-size: 14px;"><strong> </strong></span></div> <div> <span style="font-size: 14px;"><strong>Has the bench been established in all appellate courts in the country?</strong></span></div> <div> No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places including one in Hetauda which was established in 2011 and rest four at Biratnagar, Butwal, Nepalgunj and Patan.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Because this is a new and western practice, will we require a foreign consultation for the bench?</strong></span></div> <div> For now our resources have being doing a very good job but like you suggested, if there is a situation that demands foreign consultation, we can higher or send our resources for foreign education and exchange programmes but again, that will require the demand of the context.</div> <div> </div> </div> <hr /> <div style="text-align: center;"> <strong><span style="font-size: 16px;">“Judges need training”</span></strong></div> <p> </p> <div> <span style="font-size: 14px;"><img alt="Gandhi Pandit" src="/userfiles/images/ep3.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />A well known advocate <strong>Gandhi Pandit</strong>, in an interview with Britant Khanal of New Business Age highlighted a pragmatic approach to commercial bench. <strong>Exceprts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is your opinion on the newly established commercial benches?</strong></span></div> <div> The judges must be competent to deal with all kinds of cases, but honestly, that is not possible all the time because of growing trade issues in the domestic and global markets. Some of the cases are so sophisticated that they require experts, which is not available in the country. Smooth functioning of the economy will require a better legal system, which will support rapid growth and development. Therefore, current situation demands a specialised commercial bench. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where can we trace the footprints of this system?</strong></span></div> <div> This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals, the specialised skills of various sectors are brought together for the better understanding of the case. And this system was later followed by Britain and the US. This pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. We don’t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on. Even if they want to learn it, they have not been able to acquire such knowledge due to lack of infrastructure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What could be the possible solution to such lacunae?</strong></span></div> <div> Only establishing the bench will not do the justice. Establishing the bench is one thing and effectiveness is another. The benefit expected has not yet been reaped due to inexperienced people in the field and it is not unwillingness on their part - they don’t have that access to knowledge. As judges are frequently transferred to places without access to such knowledge, they will require a proper training, and attending the training only once will not make an impact as there has to be periodic training which we are lacking. The national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. Our legal system has a very lengthy procedure before the cases reach the final hearing. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address.', 'sortorder' => '1821', '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' => '1962', 'article_category_id' => '134', 'title' => '“Should Not Expect Much From NRNs Who Are Struggling Themselves Abroad”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Jiba Lamichhane</strong> has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month. In this context,<strong> Janardan Baral</strong> of The Corporate spoke to him regarding the evaluation of his tenure and future plans of NRNA in Nepal. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you assess your two years’ tenure?</strong></span></div> <div> I think it would be good to evaluate my contribution from others. As a whole, I can say we have started some good initiatives. I am committed to fulfill my promises which I had made to my friends while declaring my candidacy for NRNA. I have succeeded to implement some of my plans. Expected results have been achieved in some plans, especially in creating a mutual fund and starting social projects in Nepal. We have been in discussion with political parties to sort out the dilemma of dual citizenship and discussions are moving in a positive direction. I am sure that our concern of dual citizenship would have been addressed if a new constitution was promulgated through the Constituent Assembly Election of 2008. We could not complete some tasks though we were very eager to. Registration of NRNA is one among them. Unfortunately, we could not register the NRNA in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Though mutual investment was in your priority, it could not yield any tangible result. Why?</strong></span></div> <div> We have already started work towards this end. We have registered a company with Rs 5 billion authorized capital in the last year. Non-Resident Nepalis (NRNs) have invested Rs 1 billion in the company after we invited them to invest. We will add capita as per need in the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNs from developed countries are often blamed that they want credit by using remittance earned by those who work in Gulf countries. What is your say?</strong></span></div> <div> I do not agree with this point. I am not convinced that the mutual investment plan of NRNA has failed. NRNs from all walks of life have invested in the company. There is investment from gulf countries as well as from other countries. I am so upbeat that many friends are enthusiastic to invest in the company. It will continue if we can start some positive initiatives. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have always underlined the importance of NRN investment for the development of the country. But there is no visible progress so far.</strong></span></div> <div> I have put the mutual investment plan in special priority which has been the main agenda since the establishment of the NRNA. I have been saying that NRNs are yet to reach the position in which they can contribute miraculously to the development of the country. The new generation has been struggling to establish themselves abroad. We should not expect much from NRNs who are struggling to establish themselves abroad. Investment has been made from NRNs who have the capacity to invest individually. For instance, Shesh Ghale has already started investment in a five star hotel in Kathmandu. Investment is a process which continues forever. I request all to see the initiatives from NRNs in a positive light. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have also announced to start a 100MW hydropower project. What progress has been made so far?</strong></span></div> <div> We have started to invest in the hydropower sector through NRN Investment Limited which was established using capital from NRNA. NRN Investment Company has taken stake of a majority of shares of the 27MW Dordi Khola hydropower project in Lamjung. We have decided to complete this project in partnership with entrepreneur Chandra Dhakal. We have been studying the possibility to start other projects. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yet, the trust and belief of Nepali people to the NRN has declined. How do you view the situation?</strong></span></div> <div> Trust and belief towards NRNs has not declined; rather it has increased. In recent days, NRNA has received recognition from the government and other agencies. There is organizational representation of NRNs in some crucial agencies including Nepal Investment Board and Economic Advisory Council of the Prime Minister. I have found that all have accepted the NRNA in a positive manner. </div> <div> </div> <div> <span style="font-size:14px;"><strong>There’s visible scuffle for leadership in NRNA. Who do you want to come as your successor?</strong></span></div> <div> It is natural that many friends have expressed their interest to assume leadership. And, many friends are able to take the responsibility. I wish for a leadership that can continue the good image of NRNA. The network of NRNA has been expanding – we have been successful in expanding our network to 65 countries. I want a new leadership with the commitment to run such a huge organization in an efficient manner. I will be neutral during the election. The candidate will be selected through a democratic process.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Does the NRNA get blamed for turning a cold shoulder to problems faced by migrant workers in Gulf countries?</strong></span></div> <div> All migrant workers are also NRNs. They have been facing so many problems but we alone cannot solve their woes. Our duty is to find the root cause and take initiative to reduce the problems. We have always prioritized migrant workers’ rights and we have been working through our welfare fund to safeguard rights of migrant workers. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNA has not been registered thus far. Can the organization go ahead without a legal status?</strong></span></div> <div> It is unfortunate that the organization has not got registered even though it has branches in 65 countries. We have applied six times for registration. The main reason for not being able to register is the contradiction in the statute of the NRNA and NRN Act 2064 B.S. Registration will be our main priority in the future and all sides are positive about this.</div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jiba Lamichhane has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month.', 'sortorder' => '1820', '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' => '1969', 'article_category_id' => '39', 'title' => 'DJPL: Prioritising Import Substitution', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution. As a part of this strategy, the company established Nirog, a primary care division of the company in the last week of June, 2013. </div> <div> </div> <div> The division produces drugs for muscular inflammation, pain and emergency management, one of the segments where medicines are heavily imported from abroad. Hari Bhakta Sharma, Executive Director of DJPL said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets. </div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: left; margin: 0px 10px;"> <tbody> <tr> <td> <img alt="Hari Bhakta Sharma, Executive Director Deurali Janta Pharmaceuticals Pvt Ltd" src="/userfiles/images/cf1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 239px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Hari Bhakta Sharma</strong></div> <div> Executive Director</div> <div> Deurali Janta Pharmaceuticals</div> <div> Pvt Ltd</div> </div> </td> </tr> </tbody> </table> <div> According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Export Dilemma </strong></span></div> <div> The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike n any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases. </div> <div> </div> <div> <strong style="font-size: 14px;"><img alt="Production Capacity" src="/userfiles/images/cf4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 593px;" /></strong><span style="font-size: 14px;"><strong>Product Diversification </strong></span></div> <div> The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The DJPL has been adding new plants and divisions every two to three years to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the domestic market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness. </div> <div> </div> <div> Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health. </div> <div> </div> <div> Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Market Presence </strong></span></div> <div> Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products. </div> <div> </div> <div> Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets. </div> <div> </div> <div> The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment. </div> <div> </div> <div> <img alt="Quality Assurance" src="/userfiles/images/cf2%20(Copy)(1).jpg" style="width: 500px; height: 306px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Quality Assurance </strong></span></div> <div> DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards. </div> <div> </div> <div> Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Human Resource Management </strong></span></div> <div> The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company is devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</div> <div> </div> <div> <img alt="DJPL NEPAL" src="/userfiles/images/cf3%20(Copy).jpg" style="width: 500px; height: 138px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Milestones </strong></span></div> <div> DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being. </div> <div> </div> <div> The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification. </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution.', 'sortorder' => '1819', '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' => '1966', 'article_category_id' => '52', 'title' => 'Doubling The Growth', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional. When government legitimacy comes under serious interrogation mark, economic growth hardly becomes a national agenda.</div> <div> </div> <div> The current state of Nepali economy fits into exact definition of stagflation -- the stagnated growth and uncontained inflation. Average year-on-year growth rate of the economy for the last whole decade beginning 2002 (when growth rate, computed as Gross Domestic Product (GDP) had dipped to negative territory) has hardly crossed 3.5 percent mark.</div> <div> </div> <div> Poor growth rate is not the only worst part of it, but even the lack of meaningful debate on the constraints and remedies is making the situation worst. But the inflation even in official figures is invariably in double digits.</div> <div> </div> <div> If not from the government, tangible initiatives to this end had to come from the private sector. But nothing of that sort happened in the recent past. To fill this gap, the New Business Age (NBA) Pvt. Ltd from this year on, in partnership with some leading business entities of the nation, has taken a maiden initiative to take the growth debate to the centre stage of national economic policy parlance.</div> <div> </div> <div> Nepal in the past did witness some debate over her growth concerns, but most of them were rather slanted or impractical. In different chapters of history, we were made to hear high-pitched rhetoric of double-digit growth, Swiss or Singaporean pace of growth, leap-frogging growth or a growth taking Nepal to a developing from an underdeveloped country status. These all were tall, very tall asks, to say the least.</div> <div> </div> <div> The double digit growth or upliftment of the country’s status to a developing one are essentially the same concepts. For this, Nepal needs at least some Rs. 400 billion of capital expenditure annually, or at least 8.5 percent growth rate, for ten consecutive years. This indeed is unimaginable for several years to come. Other claims were bare political stunts, so had no scope of realizing them at all.</div> <div> </div> <div> In view of these dogmatic misadventures of the past, the NBA wanted a meaningful debate to take off that is based on feasible goals against the existing ground realities. This led to the conclave on the theme 'Doubling of Growth of the Nepali Economy to 7 per cent GDP: The Roadmap Ahead.' Based on the 3.5 percent of growth rate of the past fiscal year, the idea of doubling was born, which looked fairly achievable if we could religiously pursue it.</div> <div> </div> <div> Needless to say, growth in national GDP is a multi-sector endeavour. Among them too, it is important to identify and focus on key sectors that can either serve as prerequisite to long-run sustainable growth like hydropower or yield immediate growth results like agricultural productivity and tourism.</div> <div> </div> <div> But, most important of all is quintessentially lead role of the private sector in investment, production and distribution of all goods and services. Of course, support of the state from the background is needed as security or ground for fair-play. Guided by this philosophy, the NBA coincided the conclave of growth debate, organized in Kathmandu on 24th August, with the opportunity to recognize the contribution of business sector to growth. This recognition came in the form of the 10 categories of business awards.</div> <div> </div> <div> For the sustained prosperity of the nation, we should be able to make the growth not a flip-flop show but a habit. We need to start modest and all big dreams will fall in line with accomplishment of the starting ones. If we achieve 7 per cent growth first, then the double-digit can be followed soon. More important here: we needed a right beginning. And, with this successful conclave, we in NBA feel, the beginning has indeed been right.</div> <div> </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-09', 'keywords' => 'new business age from the editor news & articles, from the editor news & articles from new business age nepal, from the editor headlines from nepal, current and latest from the editor news from nepal, economic news from nepal, nepali from the editor economic news and events, ongoing from the edi', 'description' => 'The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional.', 'sortorder' => '1818', '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' => '1981', 'article_category_id' => '145', 'title' => 'Give Peace Talks A Chance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Janardan Baral </strong></div> <div> </div> <div> Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism.</div> <div> </div> <div> In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan. </div> <div> </div> <div> This time, APC was unique due to several reasons. Firstly, it was attended by all the invitees. Secondly, it was supported by the public mandate regarding the strategy to deal with the Taliban and the US drone attacks. Moreover, people had voted for the political parties which articulated an anti-drone policy. Thirdly, the APC decided to give free hand to the sitting government on three issues—economy, energy and terrorism. </div> <div> </div> <div> According to agencies, the APC has reposed full confidence in the efforts of the country Prime Minister and authorised the federal government to initiate dialogue with Taliban and take all the necessary steps as it may deem fit including development of an appropriate mechanism and identification of interlocutors.</div> <div> </div> <div> In an interesting revelation, APC was informed by security apparatus that there are groups within the Tehreek-e-Taliban Pakistan (TTP) who are in favour of talks but then there are others that enjoy the backing of certain hostile agencies who may never agree. </div> <div> </div> <div> TTP should come clean on those dubious entities which are operating under its brand name and carrying out disruptive actions. TTP should show its commitment for peace. </div> <div> </div> <div> With the Afghanistan conflict apparently moving towards a close, it is logical that Pakistan should engage in dialogue with select groups of Pakistani Taliban under a well structured framework. Pakistan is already facilitating such processes amongst America, Afghan Taliban and the Afghanistan government. </div> <div> </div> <div> Many analysts say that there is paradigm shift in the country’s security strategy. For instance, the top civil-military leadership has unanimously decided to hold peace talks with all militant groups, keeping the TTP on top priority. The move was hailed by even Taliban in Pakistan and they dubbed the move as an opportunity to hold a ‘meaningful dialogue’.</div> <div> </div> <div> It’s not the first time that Pakistan government has tried to open such talks. However, this time the approach is qualitatively different. This time Taliban are being referred to as “stakeholders.” The government plans to start the talks just as soon as intermediaries complete the necessary “groundwork”. It is encouraging that the Taliban Shura (the decision making body) has promptly convened its session to nominate its team. The TTP would announce its team once the government has finalised its interlocutors. The central leadership of the TTP has claimed that the Prime Minister Nawaz Sharif had sent a letter to the TTP about a possible peace dialogue and the TTP has replied to it.</div> <div> </div> <div> Pakistan’s national leadership also boldly addressed the sticky issue of American drone strikes. It described them as detrimental to the country’s efforts to eliminate terrorism and recommended that the government should consider taking up the issue to the United Nations. APC communiqué also termed the drone attacks an ‘illegal and immoral’ act. “We declare that we shall ourselves determine the means and mode of fighting this war in our national interest and shall not be guided by the United States of America or any other country in this regard.” Pakistani security officials also informed that there was no secret understanding with the US on the CIA-led drone campaign. Hopefully, an unambiguous official stance on drone attacks would help create a conducive environment for the envisaged negotiations. </div> <div> </div> <div> The APC called for a result-oriented and peaceful dialogue process to eliminate extremism from the country. Political leaders admitted that the situation has continued to deteriorate over the last several years and past efforts to control terrorist and extremist elements have not yielded the desired results.</div> <div> </div> <div> </div> <div> </div> <div> It is for this reason that peace talks with Taliban should be given a fair chance to succeed. There are forces which say that Taliban don’t want to be treated like that. However, these elements while speaking in such a tone do not give priority to the interest of Pakistan. </div> <div> </div> <div> These are mainly western voices which want Pakistan to go all out against Haqqqani net work. They must realize the fact that Haqqani network is Afghan entity. While responding to Hillary Clinton’s statement with skepticism, a senior Haqqani commander told Reuters on October 25, 2011 that the “Afghan Haqqani group will not take part in any peace talks with the United States which will not be able to find a possible solution to the Afghan conflict unless they hold talks with the Taliban—led by the Taliban leadership seriously. He revealed, “Americans had made several attempts for talks which we rejected as we are an integral part of the Taliban led by Mullah Omar…we are united to liberate our homeland-Afghanistan.”It is of particular attention that on September 17, 2012, in a rare interview by telephone from an undisclosed location, leader of the Haqqani militant network, Sirajud Din Haqqani disclosed that the group has become so confident after battlefield gains in Afghanistan that “it no longer has sanctuaries in Pakistan, and instead, felt secure inside Afghanistan.”</div> <div> </div> <div> What the world must realise is that Pakistan is a sovereign democratic country and the voice of democratically elected government and other political parties that suggest that talks with Taliban should be given a fair chance.</div> <div> </div> <div> World must also realize that collateral damages in form of drone strikes in Pakistan have resulted in germinating greater ill will against US/ISAF and ultimate sufferers are the people of Pakistan.</div> <div> </div> <div> The crux of the matter is that today Pakistan is the epi-centre of war against terrorism. Sacrifices rendered by Pakistani people in eliminating the menace of terrorism from the world are unparalleled. If we take a pragmatic view of developments in the region following USSR’s interruption in Afghanistan, Pakistan has played a key and very positive role. Today the whole Eastern Europe is enjoying freedom which is result of Pakistan standing tall in thwarting USSR.</div> <div> </div> <div> Situation in Afghanistan deteriorated as US and West changed their priorities and started focusing towards East Europe. 9/11 gave another dimension to the region and the world. Afghanistan has seen use of force and its after effects have been suffered by Pakistan. For the last 13 years this region is suffering with minimum achievements for a durable peace.</div> <div> </div> <div> The proponents of use of force do not want to see this region peaceful. To ensure their safety they are trying to create destruction in other parts of the world. It needs to be reiterated that today’s Pakistan has the capability and the political will to firm up a response against terrorists. No one but only the people of Pakistan can suggest a panacea for the problems that it is facing. The world must acknowledge and respect the decision which the political leadership of Pakistan has taken in holding talks with militants and terrorists.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism. In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan.', 'sortorder' => '1832', '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' => '1980', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief ( 21 - 27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Microbus Plunges into Trishuli, Two killed</strong></span></div> <div> Two passengers died when a microbus fell into the Trishuli River at Darechowk-9 on the Prithvi Highway last Monday. According to Area Police Office Muglin, the micro-bus (Ba.2Kha. 2598) was heading towards Kathmandu from Narayagadh when it plunged into the river below the road. The Police informed that it has intensified the search of other nine passengers missing in the river.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prez Underlines Peoples’ Contribution </strong></span></div> <div> President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>“We will garner two-third majority”</strong></span></div> <div> UCPN-Maoist leader Krishna Bahadur Mahara has claimed no forces can stop UCPN (Maoist) from garnering two thirds majority in the election. He argued that the people will vote for his party as it was the only one capable to develop the country while speaking at a programme in Rolpa last Thursday. Mahara said frequent change of government hinder the development of the nation and called for a stable government.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Anti-poll Activities will be Foiled”</strong></span></div> <div> Minister for Home Affairs Madhav Prasad Ghimire has said the government has made tight security arrangements to hold the upcoming Constituent Assembly (CA) elections in a free, fair and impartial atmosphere. Opening a regional seminar on security in Biratnagar last Thursday, Home Minister Ghimire said the government would not let those attempting to foil the election and create obstructions in the election process walk free. </div> <div> </div> <div> <span style="font-size:14px;"><strong>CA Failed Due to Federalism, Claims KC</strong></span></div> <div> Rastriya Janamorcha Chairman Chitra Bahadur KC has claimed that erstwhile Constituent Assembly failed to promulgate new constitution due to federalism. He added that the scrapping the issue of federal provision from the constitution was a need of the hour. Speaking at a press meet organised in Sandhikharka last Friday, leader KC said the idea of federalism was not the necessity of country. He claimed that the federalism was forcefully introduced following dictates of foreig power centers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Maoist Behind CA Failure”</strong></span></div> <div> CPN-UML Senior Leader Madhav Kumar Nepal has said that it was a result of the ego of the Maoists that the first Constituent Assembly failed to draft a new constitution. Speaking at a programme in Kathmandu last Thursday, the Former PM Nepal stressed the need of a win for the democratic forces in the November 19 CA elections to draft the new constitution.</div> <div> </div> <div> Koirala Hopeful of CA-2</div> <div> Nepali Congress (NC) president Sushil Koirala has expressed the confidence that the second Constituent Assembly (CA) would deliver a republic constitution in the country. Speaking at a programme in Nepalgunj last Wednesday, Koirala claimed that no force can beat the NC loser in the coming election citing growing public support to his party of late.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain.', 'sortorder' => '1831', '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' => '1967', 'article_category_id' => '46', 'title' => 'Etihad Airways’ Global Network Contributes To The Success Of Kathmandu Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 14px;">In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers. In addition to connectivity in between Abu Dhabi and Nepal, Etihad Airways offers its service to more than 87 destinations across the globe. New Business Age asked <strong>Pawana Shrestha</strong>, Etihad Airways’ Country Manager in Nepal about airline’s plan.<strong> Excerpts:</strong></span></div> <div> </div> <div> <strong>Etihad Airways recently celebrated its fifth year of operation in Nepal? How has the journey been?</strong></div> <div> Our services to Kathmandu have been a great success. Since the launch of the route in 2007 we have carried more than 570,000 passengers. In addition to carrying passengers between Abu Dhabi and Nepal, Etihad Airways offers seamless connections to more than 94 destinations around the world. Etihad Airways’ global network has been a major contributor to the success of the Kathmandu route.</div> <div> </div> <div> <strong>What are the future plans of Etihad Airways in Nepal?</strong></div> <div> We will continue to work closely with our travel partners to promote tourism to this beautiful country and carry more passengers to cities across our global network.</div> <div> </div> <div> Our close partnerships with the trade and travel industry in Nepal, has been instrumental in our success in Nepal, with the consistently high load factor across all cabins. We are very pleased to be making meaningful contribution to the Nepali economy.</div> <div> </div> <div> <strong>The United Arab Emirates (UAE) is a lucrative destination for many Nepali migrant workers. What is the percentage of migrant workers that Etihad cater to ?</strong></div> <div> We cater to a fairly large number of Nepali workers. However; we carry even more leisure passengers. In 2012 Nepalese workers made up around 30 per cent of our customer base, leisure passengers made up 50 per cent. The remaining were business and corporate travelers.</div> <div> </div> <div> <strong>Numerous other airlines are operating in Nepal. How tough is the market competition for Etihad?</strong></div> <div> Nepal is a very competitive market and there are around 28 airlines currently operating services to Kathmandu. The Abu Dhabi- Kathmandu route, however, has been very successful. This success is due to our commitment to providing our guests with a remarkable travel experience across their entire journey and our focus on delivering award winning product and services.</div> <div> </div> <div> <strong>What is your Marketing Strategy in Nepal?</strong></div> <div> Our Marketing strategy focuses on raising the profile of Etihad Airways in the Nepali market and increasing awareness of Abu Dhabi as a leisure destination. The core of our strategy, however, is providing an unbeatable product. </div> <div> </div> <div> Our marketing strategy involves working closely with our partners, travel agents, industry magazines and trade associations as well as by deploying various promotions, competitions and discount programmes throughout the year. These include tactical campaigns like regular breaking deals, online deals and highly discounted last-minute offers to encourage repeat visitors.</div> <div> </div> <div> <strong>What are your CSR programmes in Nepal?</strong></div> <div> Etihad Airways is committed to active participation in causes that support people and strengthen communities across its global network. </div> <div> </div> <div> In Nepal, our corporate social responsibility policy centers on projects that assist communities in need and, in the longer term, drive development and empowerment. Therefore, we support orphanages and education projects and homes for the elderly and through medical partners, support critical surgery and health services training.</div> <div> </div> <div> Recently we donated a large amount of waste paper to support a recycling initiative led by Shanti Sewa Griha, a non-governmental organisation providing shelter for the less privileged and fighting discrimination against leprosy patients in Nepal.</div> <div> </div> <div> In 2012 we donated care parcels, made up of packed lunches and blankets, to two social welfare organizations in Kathmandu to keep the less privileged safe from the piercing cold of Nepal.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-28', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers.', 'sortorder' => '1830', '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' => '1976', 'article_category_id' => '138', 'title' => 'Power Swaps Can Help APAC Manage Future Energy Needs: ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources," states the report entitled Energy Outlook for Asia and the Pacific. The report also forecast oil demand to grow by 2% a year, led by the transport sector, with newly affluent South Asians buying an increasing number of motor vehicles. "Natural gas demand will expand at the fastest annual pace of 4% because of the lower environmental burden and ease of use," says the ADB reoprt. The report provides in-depth data and projections on energy use at the sub-region, country, and sector levels until 2035, along with an analysis of the impacts of a “business as usual” approach to power, and an alternative approach in which countries scale up efficiencies and low carbon technologies.</div> <div> </div> <div> “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S. Chander, Special Senior Advisor, Infrastructure and Public-Private Partnerships at ADB. “Countries cannot meet these huge power requirements all on their own, so the region must accelerate cross-border interconnection of electricity and gas grids to improve efficiencies, cut costs, and take advantage of surplus energy.” The reliance on fossil fuels presents major pricing, energy security, and environmental challenges, with Asia and the Pacific’s carbon dioxide emissions set to double by 2035, making up more than half the world’s total output. Without reducing its heavy reliance on oil imports, using power more efficiently, and adopting more green energy options, the region will see a growing energy divide between the rich and poor, and increasing threats from climate change.</div> <div> </div> <div> "Using a mix of efficiency measures, advanced generation technologies, and greater use of renewable power could almost halve the projected annual rise in energy demand through to 2035. More efficient oil refining and gas processing, along with a reduction in demand for electricity, offer the bulk of the energy savings potential," says the report. </div> <div> </div> <div> The report also highlights opportunities for building on existing cross-border power exchange initiatives in Southeast Asia, South Asia, and Central Asia, with the ultimate goal of establishing a pan-Asia energy market by 2030. Closer cooperation will have other positive spinoffs including new economic opportunities and warmer relations.The report was prepared by a team from the Asia Pacific Energy Research Center of the Institute of Energy Economics, Japan, under an ADB regional technical assistance project.</div> <div> </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-28', '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' => 'Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources,"', 'sortorder' => '1829', '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' => '1978', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Canada and EU Agree Free-Trade Deal</strong></span></div> <div> Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr. Martens Up for Sale</strong></span></div> <div> Britain’s iconic Dr. Martens boots look set to find a new home, ending more than 50 years of family ownership. Sources familiar with the situation say the Griggs family is in talks to sell its 91.5% stake in the company to private equity firm Permira for £300 million ($486 million). Dr. Martens leather, lace up boots have been a signal of youth rebellion since they were first produced in 1960. Waves of subcultures -- from skinheads to punks and gothic followers -- have embraced the footwear.</div> <div> </div> <div> <span style="font-size:14px;"><strong>China’s Economic Growth Speeds Up </strong></span></div> <div> China’s economy powered ahead in the third quarter, taking some pressure off the country’s leaders as they seek to execute painful structural reforms. Gross domestic product grew 7.8% over the previous year during the third quarter, the National Bureau of Statistics reported Friday. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Shutdown encouraged foes, depressed friends’</strong></span></div> <div> US President Barack Obama has warned that America’s recent bout of political dysfunction had encouraged its enemies and dismayed its friends, and said the crisis left “no winners” in Washington. “Let’s be clear. There are no winners here,” Obama said. He spoke less than 11 hours after signing legislation that ended a 16-day government shutdown and a showdown over raising his government’s borrowing authority. </div> <div> </div> <div> <span style="font-size:14px;"><strong>WB Lowers India’s GDP Growth </strong></span></div> <div> The World Bank has revised downwards India’s economic growth forecast for the current fiscal to 4.7 per cent. This is against the 6.1 per cent growth projected in April. India’s GDP growth is, however, expected to accelerate to 6.2 per cent in 2014-15, the World Bank said in the latest India Development Update released on Wednesday. </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.', 'sortorder' => '1828', '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' => '1961', 'article_category_id' => '122', 'title' => 'Keyal Group’s Key Areas', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</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="Satya Narayan Keyal, Chairman, Keyal Group" src="/userfiles/images/spt2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Satya Narayan Keyal</strong></div> <div> <em>Chairman, Keyal Group</em></div> </div> </td> </tr> </tbody> </table> <div> The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.</div> <div> </div> <div> The first manufacturing unit was established in the mid-90s – a milestone for the family’s journey towards manufacturing. Narayani Rolling Mills Pvt Ltd, the first manufacturing venture of the group, has been producing steel products to meet local needs.</div> <div> </div> <div> According to Satya Narayan Keyal, Chairman of the group, the initial days of entering the manufacturing sector were not easy. In the absence of a robust banking sector, managing large scale funds for investment was not quite the same as it is today. “It was pretty tough to borrow loans as the banking sector was less developed,” recalls Keyal who believes that growing competition in the banking and financial industry in the 2000s has benefitted industrialists at large. However, the challenging environment provided various learning experiences to the group that helped design its next move for the future.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Market</strong></span></div> <div> While the group was gradually growing, the Nepali market was expanding as well. Keyal says that the market for manufactured goods has increased in recent times due to the growing purchasing power of the general public. He adds that technological advancement has helped the group’s factories produce better quality products that support companies in the increasingly competitive market. The competition is not always healthy and for Keyal Group, it is not an exception. Unhealthy competition has brought about difficult situations time and again, but the group holds on to its promise to deliver quality products, regardless.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Focus Areas of the Group </strong></span></div> <div> The Keyal Group has focused on the manufacturing sector with half a dozen industrial units specialised on production of steel rods, angles and flat squares, pipes, MS plates, shutter strips and cement. Steel products produced by Narayani Rolling Mills Pvt Ltd have been certified with Nepal Quality Certification Mark (NS). Likewise, Makalu Axum, a subsidiary company of the group is the authorised distributor for liquor of the Magic Moments brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/spt1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 440px;" />Capturing the Market</strong></span></div> <div> The target market for the group’s major products such as steel, cement, rods and pipes, among others, is the central and eastern regions of Nepal. The group does not wish to remain confined to these areas and is planning to explore more market potential within and outside the country. “We have a big market presence in the central and eastern regions and have plans to export our products to India in the near future,” says Keyal. As a part of this plan, the group plans to export pipes manufactured by Shree Krishna Steel to India.</div> <div> </div> <div> The group has adopted a policy to not compromise with the quality it is offering. With state-of-the- art technology and service to produce quality products, Keyals says: “We have understood the needs and demands of our clients and have targeted products accordingly. But our products are by no means expensive.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Structuring Management</strong></span></div> <div> According to Keyal, each human resource staff and management unit are attuned to realise the company’s policy of zero compromise in quality, offer products at a relatively lower price, and remain accountable and responsible to the market, customers and promoters. </div> <div> </div> <div> Similarly, the group has always treated its employees as member of its extended family. When it comes to human resource management, the group has attempted to understand the necessities and aspirations of its employees and motivate them accordingly. For motivation, the group has been using rewards and encouragement while adhering to organisational discipline, culture and responsibilities.</div> <div> </div> <div> The group has 350 employees working in its manufacturing unit and sister companies while another 350 are working along the market value chain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Addressing Challenges</strong></span></div> <div> A key challenge the group is facing at the moment is duplication of products that has tarnished the image of the common market. Availability of counterfeit products has prohibited market growth and expansion. Additionally, in the absence of major construction and infrastructure projects in the country, the market of construction materials, where the group has expertise, is limited to the consumer market instead of reaching large scale institutional clients. According to Keyal, the slowdown of the housing and real estate industry has affected construction material producing subsidiaries. However, the group has not lost hope. It has held on to the belief that a market can be created and clients can be attracted by offering quality products at reasonable price. With this philosophy, the group has been working to expand its market and attract customers towards its projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Constant Hope</strong></span></div> <div> Some business and industrial houses have constricted their operation and even closed down their companies citing political instability and a murky business environment. But the Keyal Group chooses to see the light at the end of tunnel. Keyal hopes for political stability to speed up the economic growth of the country which would boost construction and development projects. “It would also create higher demand for our products. We are hopeful and are waiting for that moment to arrive soon,” he says.</div> <div> </div> <div> <span style="font-size:14px;"><strong>CSR</strong></span></div> <div> The group has been consistently involved in corporate social responsibilities and has believed in giving back to society throughout the years. Similarly, the group has contributed to the construction of temples and funded religious activities in Birgunj and surrounding areas. Alongside this, the group has contributed to post-conflict reconstruction of infrastructure that has benefitted a larger number of people.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong style="font-size: 16px;">Some Companies under the Keyal Group</strong></div> <div> <div> </div> <div> <span style="font-size:14px;"><strong>Narayani Rolling Mills</strong></span></div> <div> This steel manufacturing unit located in Chhatapipara of Bara district produces TMT steel rods ranging from 8mm to 25 mm and plain rods of 8 to 36 mm. TMT steel products have been certified Nepal Quality Certification Mark (NS). The unit also produces flat square rods, angles and tor-karis among others. The group claims that this is probably the first company in Nepal to produce a large variety of products required for construction projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Shree Krishna Steel Pvt Ltd</strong></span></div> <div> This steel factory at Jitpur, Bara district produces MS Black Pipe (0.5 to 6 inches), MS plates, shutter strips, and shatter guides, among others. It also produces hot rolled sheets, MS pipes, shutter section and related products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Star Cement Udhyog Pvt Ltd</strong></span></div> <div> This cement producing unit located at Jitpur, Bara district produces cement and markets PSC products under the ‘Arati’ brand, and OPC products under the ‘Shikhar’ brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Makalu Axum</strong></span></div> <div> This is the importer and authorised distributor of Magic Moments liquor for Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Enterprises</strong></span></div> <div> This subsidiary of the group imports various consumer products from India and other countries to distribute across the country. The company is also based in Birgunj.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Hardware</strong></span></div> <div> The hardware product distributor has its network spread over major cities like Kathmandu, Banepa, Butwal and Itahari.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Landmark Years:</strong></span></div> <div> 2052: <span class="Apple-tab-span" style="white-space:pre"> </span>Establishment of Narayani Rolling Mills Pvt Ltd, the first manufacturing unit of Keyal Group.</div> <div> 2056: <span class="Apple-tab-span" style="white-space:pre"> </span>Shree Krishna Steel Pvt Ltd, second manufacturing unit of the group, was established.</div> <div> 2060: <span class="Apple-tab-span" style="white-space:pre"> </span>Star Cement Udhyog Pvt Ltd was established. It produces PSC and OPC grades of cement. </div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.', 'sortorder' => '1827', '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' => '1960', 'article_category_id' => '91', 'title' => 'Informal Trade Still A High In South Asian Region By The Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. </div> <div> </div> <div> South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week. </div> <div> </div> <div> The audit report will aim at providing factual information on the reliability and efficiency of transportation infrastructure, logistic operations, customs and border management regulations and procedures, said research director at SAWTEE, Pushpa Sharma. </div> <div> </div> <div> The audit report is expected to reveal the status of customs facilitation for bilateral trade among South Asian countries, according to Sharma. “After the study of trade facilitation at a bilateral level, the study will focus on identifying regional problems regarding trade facilitation,” he said.</div> <div> </div> <div> Informal trade is still a big challenge in the region but we do not have any authentic data, he said. The audit will not directly calculate the volume of informal trade but will study the causes of informal trade and recommend appropriate measures to reduce the volume of informal trade.</div> <div> </div> <div> Costs related to trade facilitation, infrastructure and transit have risen over the years, which has promoted informal trade in South Asia, according to experts. </div> <div> </div> <div> Effective trade integration is necessary to reduce the cost burden, said former member of National Planning Commission, Dr Posh Raj Pandey. “Trade facilitation is a must to improve overall cost related trade barriers but we should have a benchmark to improve the condition of trade facilitation,” he said, adding that the audit will provide the benchmark with all trade barriers in the formal channel.</div> <div> </div> <div> Despite the fall in traditional trade barriers, the given circumstances in the region have forced exporters, businesses and consumers to bear additional cost burden, according to him. </div> <div> </div> <div> Economist Dr Ratnakar Adhikari said that generally, costs are incurred due to lack of regional trade connectivity and impenetrable borders. Regional commitment is required to address the identified bottlenecks, he further said. </div> <div> </div> <div> Iqbal Tabish, Secretary General of the SAARC Chamber of Commerce and Industry, mentioned that benefits of trade liberalization will not be realized unless trade facilities are rationalized.</div> <div> </div> <div> Finance minister Shanker Prasad Koirala stated that the cost of trading within the region among South Asian countries is twice, and in some cases, even three times, than trading with countries outside the region.</div> <div> </div> <div> Despite the existence of several regional efforts, such as Agreement on South Asian Free Trade Area (SAFTA), intra-regional trade in South Asia has remained extremely modest due to a number of factors, one of which is trade and transport facilitation-related bottlenecks.</div> <div> </div> <div> In a separate programme organised by International Finance Corporation (IFC), chief secretary Lila Mani Paudyal said that the government is committed to improving its trade competitiveness. “Reducing the time and costs to international trade, in particular, is critical for the Nepali private sector to compete internationally and access global markets,” he said. </div> <div> </div> <div> </div> <div> The Department of Customs is implementing its four year Customs Reform and Modernization Strategy and Action Plan since July 2013 which comprises of four building blocks: Trade Facilitation, High Revenue Yield, Organizational Development, and e-Customs, according to Surya Prasad Acharya, Director General of the Department of Customs. </div> <div> </div> <div> IFC is committed to enhance trade facilitation including focusing on simplifying border processes & procedures, and improving risk management systems, said IFC Resident Representative in Nepal Valentino S Bagatsing. “The reforms in the trade environment will provide a much needed boost as Nepali businesses position their products in accessing global markets,” he said.</div> <div> </div> <div> IFC’s South Asia Regional Trade Integration programme aims to assist the government in focusing its reform efforts to create an enabling environment for improving trade facilitation and logistics. IFC works with both private sector and government agencies in identifying areas where reform efforts can help maximize improvements for the private sector to improve cross-border trade and investments.</div> <div> </div> <div> <div> <span style="font-size:14px;"><strong>Main Explanatory Factors for Informal Trade </strong></span></div> <div> •Businesses have incentive to escape trade related regulations and duties </div> <div> •Complex, non-transparent or divergent regulatory requirements (e.g., customs formalities, technical regulations and sanitary standards) </div> <div> •Long and costly customs delays when trading formally</div> <div> •Obstructed entry or exit of certain commodities, caused by import quotas or export bans </div> <div> •Foreign exchange controls</div> <div> •Weak law enforcement at the borders</div> </div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week.', 'sortorder' => '1826', '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' => '1959', 'article_category_id' => '201', 'title' => 'Fashion Means Business In The Corporate World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality.</div> <div> </div> <div> Corporations usually insist on having dress codes because they know that the way you look is speaking about yourself without words. If you look a certain way it’s like introducing yourself. Corporations are usually not associated with fashion, but they are so much, and this is why we want to introduce to you this term.</div> <div> </div> <div> Fashion means business. Fashion is an essential tool when you address to someone. Style is an international code and carrying a message with the perfect style is indispensable. You know that our philosophy is that fashion and attitude and may we add intelligence, go hand in hand.</div> <div> </div> <div> Talent, enthusiasm and learned lessons need to be crowned with the perfect look. Fashion is the physical expression what lies on the inside. Art director Fabien Baron says: “I like beauty, but it needs to vibrate.” And that is a true thing.</div> <div> </div> <div> Dressing up for business is basically the definition of professional dressing.</div> <div> </div> <div> Just like in business, in fashion you need to find your formula and take it to the highest level you can.</div> <div> </div> <div> Fashion, just like the business world, is dynamic and always changing. Keeping up with the trends is a must, but the basic rules are always the same.</div> <div> </div> <div> Even if there are hundreds of rules, you can still achieve greatness. The more constrains you have, the more creative options you have. (With inputs from agencies)</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality', 'sortorder' => '1825', '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' => '1958', 'article_category_id' => '137', 'title' => 'Economists Fear Debt Ceiling Fight May Bring Recession', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.</div> <div> </div> <div> A couple more say a recession is possible depending on how far past the deadline Congress goes before acting. And even those who aren’t predicting recession say not raising the debt ceiling would be a very bad idea.</div> <div> </div> <div> “Financial markets are already being impacted in the short-run as a result of heightened uncertainty,” said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. But he said there would be greater long-term damage due to the spending cuts that would occur.</div> <div> </div> <div> “The fiscal shock treatment of having to eliminate the deficit in one fell swoop would reduce GDP by more than 5% and cause a severe recession,” he said.</div> <div> </div> <div> The Treasury Department has also been sounding the warning bells about the debt ceiling. In a report Thursday, Treasury said failure to raise the limit would have a “catastrophic effect” on the economy, sparking an even deeper recession than the 2008 downturn that accompanied the meltdown in financial markets.</div> <div> </div> <div> The economists agree the threat posed by not raising the debt ceiling is significantly greater than that posed by the federal government shutdown that started Tuesday. None predicted a recession being caused by the shutdown alone.</div> <div> </div> <div> “A short to medium duration partial shutdown is not enough to cause recession,” said Sam Bullard, economist with Wells Fargo Securities.</div> <div> </div> <div> But if the debt ceiling isn’t raised, the economists have many different worries, including disruptions in financial markets, followed closely by a loss of confidence in the dollar and Treasuries and very deep cuts in government spending.</div> <div> </div> <div> “No one can know for sure exactly what would happen in the event of a default, but we can all be sure that it would be bad,” said Russell Price of Ameriprise Financial.</div> <div> </div> <div> Even those economists who aren’t predicting a recession are worried about the risks posed by the debt ceiling.</div> <div> </div> <div> “Merely missing the debt ceiling deadline will not trigger a recession, but the risks will rise rapidly with each week after the deadline passes,” said Patrick O’Keefe, director of economic research at accounting firm Cohn Reznick.</div> <div> </div> <div> Some of the economists believe if Congress doesn’t raise the debt ceiling then the administration will act unilaterally. That might cause a constitutional crisis but they believe it would avoid a financial crisis.</div> <div> </div> <div> “My expectation in this scenario is that the President finds a sufficiently plausible constitutional rationale to ignore the debt ceiling and keep on meeting all US Federal obligations on time with no exceptions,” said Bill Cheney, chief economist with Manulife Asset Management.</div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">US Debt Crisis Threatens World Economy: IMF</strong></p> </div> <div> Terming the current debt crisis in America as “mission-critical”, the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. “The ongoing political uncertainty over the budget and the debt ceiling does not help. The Government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the US economy, but the entire global economy,” the IMF Managing Director, Christine Lagarde, said on Thursday. “So it is “mission-critical” that this be resolved as soon as possible,” Lagarde said in her address to the George Washington University. The United States, she said, needs to “slow down and hurry up.” By that she meant less fiscal adjustment today and more tomorrow, she added.“That means replacing the sequester with more back-loaded measures that do not hurt the recovery. At the same time, the US needs to do more to make debt sustainable down the road — by containing the growth of entitlement spending and raising revenues,” Lagarde said.</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.', 'sortorder' => '1824', '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' => '1957', 'article_category_id' => '116', 'title' => 'Nexus Announces Cisco Select Certified Partner Status', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="" src="/userfiles/images/nexus.jpg" style="width: 500px; height: 71px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security. Cisco is ranked second in x86 Blade Servers as per IDC’s Q2 2013 figures. Nexus Solutions provides the complete suite of Cisco solutions and has certified and qualified Cisco resources to design, implement and support Cisco solutions for enterprise and SMB customers in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Partners with XRoads Networks</strong></span></div> <div> Similarly, Nexus Solutions also signed up with XRoads Networks as an authorized partner. XRoads Networks is the inventor of Unified Bandwidth Management Solutions and its product features include Accelibond Internet Link Bonding, Adaptiband Dynamic Bandwidth Management, Site2Site VPN Virtualisation, Xflow Real-time Network Reporting, ActiveDNS Inbound Load Balancing, Server Load Balancing, MultiWAN Link Load Balancing, Application QoS/Throttling & Comprehensive Cloud Firewall/LAN Router. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security.', 'sortorder' => '1823', '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' => '1956', 'article_category_id' => '190', 'title' => 'Samsung Galaxy Note 3 + Galaxy Gear Smartwatch: A Smart Combo', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Note 3 </strong></span></div> <div> The Galaxy Note 3 is the third in the line of Samsung's popular Note 'phablet' series. This time it has just become even more powerful and bigger. Powered by a 1.9 Ghz octa-core Qualcomm Snapdragon 800 processor along with 3 GB of RAM and Adreno 330 (N9005) GPU, the Galaxy Note 3 runs on Android 4.3 Jelly Bean with the latest Samsung Touchwiz UI overlay. The Samsung Galaxy Note 3 has a 5.7-inch Full HD display that comes with the latest edition of Samsung’s S-Pen stylus. The 1920x1080 resolution (386 pixel density) of Super AMOLED capacitive touchscreen displays vibrant colours giving sharp and crisp experience to the users. The sheer power of Note 3 turns the phablet into the most powerful smartphone available in the market till date. With these specs, users can easily do their computing needs including high-end mobile gaming and smart multitasking. The powerful processor and mammoth RAM size helps to instantly load apps with no noticeable lag. Though being a phablet, users won't feel it too large in their hands as the Note 3 is thin at just 8.9 mm and weighs around 168 grams. </div> <div> </div> <div> The Note 3 sports 32 GB internal storage. The phablet also houses a micro SD card slot which can be used to expand the storage capacity up to 64 GB. The Note 3 comes with enhanced privacy and security protection provided by Samsung KNOX feature. Users can activate Samsung KNOX with ease which allows them to run and store security-sensitive applications and data inside a protected execution environment called "container." Furthermore, the phablet is equipped with an improved "Find My Mobile" feature that allows users to disable the phone when it is stolen or lost. The Note 3 sports USB 3.0 support, which makes transferring movies and music to the device much faster than most other smartphones. The phone has 4G LTE, Bluetooth 4.0, Wi-Fi, Near Field Communicator (NFC) and Infrared for internet and other kinds of connectivities. </div> <div> </div> <div> The phablet also has decent power backup as it comes with a 3,200 mAh battery. The Note 3 houses a 13 megapixel camera at the back side which produces clean, colourful and sharp images in decent lighting. The camera is capable of capturing ultra high-definition 4K video. Similarly, for 3G calls the phablet sports a 2 MP front facing camera. The build quality of the phone is another striking feature. Unlike other smartphones with plastic back panels, Samsung has covered the back panel of Note 3 with leather which gives users a premium and exclusive feel. Samsung Galaxy Note 3 is priced at Rs 91,500 in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Gear </strong></span></div> <div> Another attraction of the launch event was Samsung Galaxy Gear smartwatch. The highly anticipated wearable gadget not only lived up to the hypes but also gave a glimpse of the changes occurring in the technology market. The Galaxy Gear seems to be changing the way of wearing wristwatch and managing the digital life of users in the near future. The stylish computerised watch allows users to check their e-mails, messages and take photos. The Gear also lets users make and take phone calls right from the wrist using a built-in speaker and microphone. The 1.64 inch Super AMOLED touch screen of the smartwatch has 320 x 320 pixels resolution with an image density of 277 ppi. It comes with an 800 Mhz processor, 4 GB internal storage and a 1.9 MP camera that is attached to the left side of hand strap. Samsung has linked the Gear with Galaxy Note 3. Galaxy Gear will notify users and give quick previews of incoming texts, e-mails and more from synced Note 3. Similarly, users can click videos and images from the Gear and transfer it to their Note 3 device via Bluetooth 4.0 connectivity. The Gear also sports an accelerometer and a gyroscope. This wearable computerised wristwatch carries a price tag of Rs 46,500 in the Nepali market. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu.', 'sortorder' => '1822', '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' => '1970', 'article_category_id' => '37', 'title' => 'Commercial Bench In Nepali Courts Prospects And Challenges', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Rudra Sharma</strong></div> <div> </div> <div> The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address. However, there were demands of a commercial court/bench for the last 20 years or so. People in seminars organized by Nepal Rastra Bank in association with the World Bank and International Monetary Fund identified the need of a commercial court/bench in Nepal for appropriate and speedy dispensation of justice in commercial case.</div> <div> </div> <div> In 2063 BS, the Supreme Court has set up a task force on this regard. The task force reviewed several exercises together with some international practices for establishment of Commercial Bench. The Task Force studied the reports of Court Management Committee, 2055 Court Strengthening Committee, 2058 and the Five Year Strategic Planning of the Court (2061- 2066). The Ministry of Law and the Ministry of Industry had also carried out some consultation with the Supreme Court in the year 2059 for the establishment of Commercial Court.</div> <div> </div> <div> A project carried out under the loan assistance of Asian Development Bank namely Improving Legal Enforcement Mechanism and Judicial Capacity had a component called Establishment of Commercial Bench under its package 2 activity. From Manshir 2059, this project carried out activities on establishment of Commercial Bench. This project had hired an expert Hon. C.</div> <div> </div> <div> W. Pincus QC who submitted a report recommending a number of things on establishment of commercial bench. Nepal Judicial Academy (NJA) also worked very closely with this project on the Commercial Bench component. This project had also worked with private sectors like Federation of Nepalese Chambers and Commerce and Industry (FNCCI) and others in this course.</div> <div> </div> <div> According the report of the Task Force, Commercial Cases Baseline Survey, 2003 carried out by Nepal Law campus presents 17 different kinds of cases as commercial cases tried and tested in several courts all over the country. The 17 different kinds of cases are - Company, Secured Transaction, Contract, Insolvency, Banking and Negotiable Instruments, Arbitration, Intellectual Property, Finance, Foreign Investment, Insurance, Security Transaction, Agency, Partnership, Construction, Leasing/Rent, Transportation and any others.</div> <div> </div> <div> Analysing the evolution of concept of Commercial Bench and a comparative study on commercial dispute settlement of some other countries like United Kingdom, United States, India and China, the Task Force has finally put forth 26 suggestions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Establishment of Commercial Bench </strong></span></div> <div> On 2065 Magh 1, the government of Nepal established a Commercial Bench in four Appellate Courts namely Biratnagar, Patan, Butwal and Nepalgunj and later added Hetauda Appellate Court also through a notification on 2067 Baisakh 1. These Commercial Benches are provided with jurisdiction to look after cases of Secured Transaction Act, 2063, Competition Promotion and Market Promotion Act, 2063, Company Act, 2063 and Insolvency Act, 2063.</div> <div> </div> <div> Later, the government of Nepal, through a notification published on 2065 Shrwan 5, extended the jurisdiction of the Commercial Benches for the disputes under Banking Offence and Punishment Act, 2066. Most of the cases going to Commercial Bench were filed in the Commercial Bench of Patan Appellate Court. Some 99 commercial cases were filed in the Patan Appellate Court up to the fiscal year 2067, some 154 cases were filed in the fiscal year 2067/068, some 237 cases were filed in the fiscal year 2068/069 and some 263 cases were filed before the completion of the fiscal year 2069/070.</div> <div> </div> <div> After the establishment of the Commercial Bench, a procedure for the same was supposed to be made. In fact, a procedure is also drafted. However, the procedure has not come into force. Company Act, 2063 and Competition & Market Promotion Act, 2063 have provided that lawsuits under these Acts should follow summary proceeding. The Insolvency Act provides for a procedure within itself and that procedure is being followed now generally.</div> <div> </div> <div> No special procedure is prescribed for Secured Transaction Act and Banking Offence Act. These two Acts seem to follow general procedure. Despite the lack of a specific procedure for the Commercial Bench, Chief Judge of the Appellate Court where the Commercial Benches reside have provided for necessary procedural matters as and when required. For example, cases of Commercial Bench are heard by a division bench, other cases related to the case filed in the Commercial Bench are also heard in Commercial Bench, so on and so forth.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Commercial Bench & Expectations</strong></span></div> <div> The primary expectation with the Commercial Bench was that it would look after all the commercial cases gradually. It was a good beginning that the Commercial Bench was assigned to hear cases under three categories and later under five categories. However, it was very unfortunate that the jurisdiction of the commercial bench was not extended to other cases under other Acts.</div> <div> </div> <div> The basic benchmark to evaluate the function of the Commercial Bench is its comparative worth and value, i.e. what and how it contributed compared to previous court system where there were not Commercial Benches. There are hardly any evidences that the Commercial Bench could prove its worth. This is because, we already have had a regular court system and the Commercial Bench was brought to existence for a better performance and better dispensation of justice with respect to commercial cases. But, unfortunately it did not happen.</div> <div> </div> <div> The Task Force report mentions that the erstwhile judiciary of Nepal was looking after some ten kinds of commercial cases even if there were no such commercial benches. The cases were - dispute related to loan or credit, dispute about security or pledge, dispute related to buying and selling of property, dispute related to trademark, dispute related to commercial loan, dispute related to liquidation of company, dispute related to shareholders of company, Torts related trade and commerce and other economic cases.</div> <div> </div> <div> According to primary expectations and the decade long preparations, the scope of the Commercial Court was supposed to be extended to other commercial cases too and subsequent legal reform as well as administrative reform were also supposed to be made in order to pave a way for the same.</div> <div> </div> <div> It did not happen unfortunately, and this proved to be a major setback for creating condusive environment for invitation of foreign investment in Nepal and also for maintaining as well as retaining investment in Nepal. The exact expectation of about the Commercial Bench was to develop it as a real center for commercial dispute settlement.</div> <div> </div> <div> The Task Force report states that the concept of commercial bench was evolved in an endeavour to create sufficient legal and judicial environment for business as well as economic activities. But we can hardly find evidences to understand how the commercial bench contributed to create such environment. However, it does not mean that the commercial bench did not do anything. But, it should be judged in comparison to the contribution of the regular court system before establishment of commercial bench. According to the Task Force report, the regular court system was looking after 10 different kinds of commercial cases. As the commercial benches took up only cases under five categories, it gave a kind of impression that commercial cases are related to those five cases only.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Challenges</strong></span></div> <div> The major challenge of the Commercial Bench is the mindset of the judicial leadership. The judicial leadership probably thinks that the regular Appellate Courts would be less important if all commercial cases would go to the Commercial Bench. I wish to be wrong at this point. But, it would be very dangerous if the judicial leadership continues to be influenced by such thinking.</div> <div> </div> <div> Another challenge is the lack of competent human resources required for the Commercial Bench. This challenge can be overcome with appropriate will power and leadership of the judicial administration. We cannot import or invent such competent human resources. However, there would be no additional cost for managing the resources already available in the market.</div> <div> </div> <div> On the one hand, commercial cases are not coming to the Commercial Bench due to lack of proper legal arrangements on jurisdiction and on the other hand, there are competing and repeating jurisdictions for the dispensation justice through commercial cases. Several cases are put in arbitration process. Almost all of them are commercial cases. But, the appeal on arbitration settlement goes to the Appellate court but not to the Commercial Bench. The Debt Recovery Tribunal hears cases relating to debt recovery of the banking institutions. Revenue Tribunals look after cases related to taxes. Labour Court hears the cases related to labour issues.</div> <div> </div> <div> The money laundering related cases are handled by the money laundering department. Corruption cases are handled by Commission for the Investigation on Abuse of Authority (CIAA). Criminal Investigation Bureau of Nepal police also carries out investigation in some commercial cases.</div> <div> </div> <div> Thus, the commercial cases are scattered and thereby losing the scope of making the Commercial Bench a hub for settlement of commercial disputes.</div> <div> </div> <div> The Commercial Bench has jurisdiction over the Banking Offense Statute, but it does not have jurisdiction over Banking and Financial Institutions Act (BAFIA). It has been ridiculous practically. Such examples are there in other sectors too.</div> <div> </div> <div> Some of the practices of Appellate Court where the Commercial Bench resides have defeated the very purpose of the Commercial Bench. A case demanding for interim relief does not go to the Commercial Bench. Regular Bench hears it. Once a party receives interim order, it keeps on postponing the hearing date, pending the interim order. Sometimes, such cases are postponed for many times even from the weekly calendar putting a trouble to the opposite party to even to identify whether the hearing date was postponed or not.</div> <div> </div> <div> Such practices are serious fraud on the administration of justice and responsible persons must be punished.</div> <div> </div> <div> In most of the times, dispute on contract cases that happen to be commercial cases do not go to Commercial Bench. The prevailing contract law has provided interim relief in the form of appropriate order. In such situation, the existence of Commercial Bench happens to be a great irony.</div> <div> </div> <div> Great difficulty is experienced in Nepal for administration of contract, especially international contract. The courts generally provide stay order depriving the aggrieved party from carrying out the necessary activities according to the contract. Such a situation causes great mockery of the existence of the Commercial Bench.</div> <div> </div> <div> Due to the above reasons, the expectation that Commercial Bench would establish a minimum predictable legal environment on doing business in Nepal remains a distant dream. This has put a great threat for the invitation of foreign investment in Nepal. The Commercial Bench should overcome all these challenges in the time to come.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Experiences of India on Commercial Bench</strong></span></div> <div> In the year 2009, the Lok Shaba of India passed the Commercial Division of High Court Bill, 2009. But, the Bill is yet to be passed by the Rajya Saba.</div> <div> </div> <div> The Bill envisages separate divisions in each high courts to handle commercial disputes above certain value along with a procedure for the same. In the same year 2009, the Delhi high court established arbitration center and gave a message that the Indian judiciary was not anti-arbitration. In the same year 2009, London Court of International Arbitration set up a center in India. These two institutions paved way for institutional arbitration in India as an effective tool for settlement of commercial disputes.</div> <div> </div> <div> The Indian courts have made controversial interpretations of the Indian Arbitration & Conciliation Act, 1996. In the case of SBP & Co versus Patel engineering the Indian Supreme Court upheld the role of courts in appointment of arbitrator if one of the parties fails to nominate an arbitrator. This decision has been criticized as it put a great hurdle to separate arbitration from court. But in the year 2012 September, the Indian Supreme Court in the case of Bharat Aluminum Company Ltd. ( BALCO) versus Kaiser Aluminum Technical Service ruled that the Indian Arbitration Act will not apply if the arbitration proceeding are held outside India. This ruling of the Indian Supreme Court has been praised from many quarters as it has helped to separate domestic and international arbitration as well as separating arbitration from the courts.</div> <div> </div> <div> It seems that the establishment of arbitration center at the Delhi high court demonstrates the willingness of Indian judiciary to make the high court as hub of settling commercial dispute and the Supreme Court ruling of</div> <div> </div> <div> 2012 in the case of BALCO shows the willingness of Indian judiciary to separate arbitration from judiciary. It seems that these all issues will be categorically addressed by the pending Bill called the Commercial Division of High Court Bill, 2009. The underlined aim of all these schemes would be making India a preferred investment destination as the courts will provide a minimum predictability on legal environment.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>International Dimensions</strong></span></div> <div> Nepal became member of World Trade Organization (WTO) nine years ago making several commitments for harmonization as well as standardization of administration of trade law in accordance with the provisions of the United Nations Commission on International Trade Law (UNCITRAL). Section 34 of the Arbitration Act, 2055 provides for enforcement of foreign arbitral awards.</div> <div> </div> <div> But, there are some cases where the Appellate Court has refused for enforcement of some foreign arbitral awards and the appeal on such decisions of the Appellate court are pending at the Supreme Court. Our legal ecosystem should be clear at this point and the commercial bench should take lead on this.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How Commercial Bench should be </strong></span></div> <div> Therefore, the commercial bench in future should be able to be a hub and ultimate resort for the settlement of disputes related to commercial laws.</div> <div> </div> <div> Further, it should be established as a center of trust among the investors as well as among the public that the commercial bench ensures settlement of commercial disputes in tune of time. It will not be necessary that the commercial bench itself hears all disputes. But it should be the ultimate resort for settlement of such disputes. For this purpose, we need to make legal as well as administrative mechanisms that all commercial law related cases can ultimately reach to the commercial bench.</div> <div> </div> <div> We can continue separate arrangements of hearing commercial law related cases at the court of first instances like Labour Court, Revenue Court or Tribunal, Debut Recovery Tribunal. Besides, we also need to encourage to settle commercial law related cases through the means of alternative dispute settlement like arbitration, mediation, conciliation etc. However, commercial law disputes settled in all these court of first instances and cases settled through alternative dispute settlement mechanism should ultimately find their way to the commercial bench. Such arrangements should be all over the country not only in Kathmandu. We can make an arrangement that disputes involving certain amount or above should go directly to the commercial bench instead of the court of first instances.</div> <div> </div> <div> The commercial bench should also take over the newly emerging commercial cases. Cases related to banking institutions are prominent example, such as cases related to bounced, dishonoured of cheques, debt recovery and banking offence. There is a need of legal as well as administrative provisions on asset management. Lack of this has hampered expected functioning of banking system.</div> <div> </div> <div> The commercial bench in future should look after comparatively complex cases on banking law. There is a room to argue that the Banking Offenses Act seems to be draconian, providing scope for being misused. This Act is disproportionate since this gives higher hand to the regulating body Nepal Rastra Bank to take such action that may kill the institution instead of correcting it and functioning it again after action from Nepal Rastra Bank.</div> <div> </div> <div> Nepal Rastra Bank may feel the need of such law since the court system is not effective as mentioned above. However, a draconian law would not be an answer for non-effective court system. So, we need to improve the court system rather than practicing draconian laws. We need such legal system where the central bank can take action against the banking institutions for corrective measures, put them in the legal process and the banking institutions again functions after the central bank takes action. Taking action by central bank against banking institution should be a regular process rather than a fateful disaster.</div> <div> </div> <div> Other newly emerging cases on commercial law are related to money laundering, insolvency and trans-border commercial cases. Money laundering is a part of criminal law. But since it is a matter of financial crime but still it can be seen within the parameter of commercial law. International commitments as well as domestic needs have compelled to make the legal as well as administrative regimes on money laundering more stringent. It is said that this regime in the offing will compel to change over 40 prevailing laws on administration of criminal justice. The future commercial bench should be a center for hope and trust for the settlement of cases related to these all emerging commercial laws.</div> <div> </div> <div> The commercial bench should have a proper reporting system. The cases settled by commercial bench should be discussed publicly in the Bars and among the academics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Conclusion and Recommendations </strong></span></div> <div> Though Commercial bench could not prove its expected significance as we need to appreciate the initiations made and need to continue efforts to update and standardise it in accordance with need of the day.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Recommendations</strong></span></div> <div> 1. We need to seriously review the efforts made till date for establishment of Commercial Bench together with mapping the expectations made during such endeavours.</div> <div> 2. We need to extend the scope as well as jurisdiction of the commercial bench ensuring that all commercial cases either directly go to the commercial bench or go to other courts or tribunals that are supervised by the commercial bench.</div> <div> 3. There should be commercial benches covering all jurisdictions of Nepal.</div> <div> 4. Some cases having commercial issues may not go to commercial bench if such cases have monetary value in the disputes less than prescribed. Principally, it should be determined that commercial bench is to serve the purpose of establishing a preferred destination for investment, and therefore, it serves the creating conducive atmosphere for investment rather than establishing judicial principles. Prolonged judicial process and lengthy interpretations of statues can be done in regular courts not by commercial benches.</div> <div> 5. Among the commercial bench all over the country, there should be one commercial bench at the center Kathmandu with fast tract procedure. Commercial cases with certain threshold of investment and some other special circumstances should only go to this Fast Track Commercial Bench. Such arrangement would boost up confidence of investors.</div> <div> 6. There should be proper reporting system of the cases decided by the commercial benches so that the legal community as well as business community can provide feedback on the decisions by carrying out discussion on them.</div> <div> 7. There should be special efforts for legal reforms in order to accomplish the task of transforming the present commercial bench so that it can carry out all above mentioned matters.</div> <div> 8. Administration of commercial cases and legal reform should be carried out considering the international commitments of Nepal under WTO, UNCITRAL and other similar mechanisms.</div> <div> </div> <div> 9. Success stories of some countries like Singapore should be considered and we need to make analysis why Singapore scores over India on settlement of corporate conflict.</div> <div> </div> <div> <em><span style="background-color: rgb(240, 255, 240);">(Based on a paper prepared under an assignment of Commercial Law Committee of Supreme Court Bar Association. The writer is associated with Transactional Law House, an international law firm based in Kathmandu. He can be reached at rudralawyer@gmail.com. Cell- 9851057087.)</span></em></div> <div> </div> <div> <hr /> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>“Lacunae in the legal system need to be minimised to attract foreign investors”</strong></span></div> <p> </p> <div> <strong style="font-size: 14px;"><img alt="Shreekant Poudel, the spokesperson of the Supreme Court" src="/userfiles/images/ep1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />Shreekant Poudel</strong><span style="font-size: 14px;">, the spokesperson of the Supreme Court, in an interview with Britant Khanal of New Business Age he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Exceprts:</strong></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Could you highlight the reason behind establishing the commercial bench?</strong></span></div> <div> The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the Second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don’t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></span></div> <div> In the process of establishing this bench we had to train judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as it required. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? </strong></span></div> <div> We are still in the initial phase of establishing the bench. As I know, the initial requirement was to set up a separate commercial court, which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, patents are heard by the department of industry, and many other cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div> <div> </div> <div> Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues including intellectual property and cases of revenue tribunal. We are striving to bring all of these cases under the commercial bench.</div> <div> </div> <div> <img alt="Fiscal Year 2069/70 Cases Regarding Commercial Bench." src="/userfiles/images/ep2.jpg" style="width: 500px; height: 187px; margin-left: 20px; margin-right: 20px;" /></div> <div> <span style="font-size: 14px;"><strong> </strong></span></div> <div> <span style="font-size: 14px;"><strong>Has the bench been established in all appellate courts in the country?</strong></span></div> <div> No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places including one in Hetauda which was established in 2011 and rest four at Biratnagar, Butwal, Nepalgunj and Patan.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Because this is a new and western practice, will we require a foreign consultation for the bench?</strong></span></div> <div> For now our resources have being doing a very good job but like you suggested, if there is a situation that demands foreign consultation, we can higher or send our resources for foreign education and exchange programmes but again, that will require the demand of the context.</div> <div> </div> </div> <hr /> <div style="text-align: center;"> <strong><span style="font-size: 16px;">“Judges need training”</span></strong></div> <p> </p> <div> <span style="font-size: 14px;"><img alt="Gandhi Pandit" src="/userfiles/images/ep3.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />A well known advocate <strong>Gandhi Pandit</strong>, in an interview with Britant Khanal of New Business Age highlighted a pragmatic approach to commercial bench. <strong>Exceprts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is your opinion on the newly established commercial benches?</strong></span></div> <div> The judges must be competent to deal with all kinds of cases, but honestly, that is not possible all the time because of growing trade issues in the domestic and global markets. Some of the cases are so sophisticated that they require experts, which is not available in the country. Smooth functioning of the economy will require a better legal system, which will support rapid growth and development. Therefore, current situation demands a specialised commercial bench. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where can we trace the footprints of this system?</strong></span></div> <div> This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals, the specialised skills of various sectors are brought together for the better understanding of the case. And this system was later followed by Britain and the US. This pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. We don’t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on. Even if they want to learn it, they have not been able to acquire such knowledge due to lack of infrastructure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What could be the possible solution to such lacunae?</strong></span></div> <div> Only establishing the bench will not do the justice. Establishing the bench is one thing and effectiveness is another. The benefit expected has not yet been reaped due to inexperienced people in the field and it is not unwillingness on their part - they don’t have that access to knowledge. As judges are frequently transferred to places without access to such knowledge, they will require a proper training, and attending the training only once will not make an impact as there has to be periodic training which we are lacking. The national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. Our legal system has a very lengthy procedure before the cases reach the final hearing. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address.', 'sortorder' => '1821', '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' => '1962', 'article_category_id' => '134', 'title' => '“Should Not Expect Much From NRNs Who Are Struggling Themselves Abroad”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Jiba Lamichhane</strong> has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month. In this context,<strong> Janardan Baral</strong> of The Corporate spoke to him regarding the evaluation of his tenure and future plans of NRNA in Nepal. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you assess your two years’ tenure?</strong></span></div> <div> I think it would be good to evaluate my contribution from others. As a whole, I can say we have started some good initiatives. I am committed to fulfill my promises which I had made to my friends while declaring my candidacy for NRNA. I have succeeded to implement some of my plans. Expected results have been achieved in some plans, especially in creating a mutual fund and starting social projects in Nepal. We have been in discussion with political parties to sort out the dilemma of dual citizenship and discussions are moving in a positive direction. I am sure that our concern of dual citizenship would have been addressed if a new constitution was promulgated through the Constituent Assembly Election of 2008. We could not complete some tasks though we were very eager to. Registration of NRNA is one among them. Unfortunately, we could not register the NRNA in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Though mutual investment was in your priority, it could not yield any tangible result. Why?</strong></span></div> <div> We have already started work towards this end. We have registered a company with Rs 5 billion authorized capital in the last year. Non-Resident Nepalis (NRNs) have invested Rs 1 billion in the company after we invited them to invest. We will add capita as per need in the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNs from developed countries are often blamed that they want credit by using remittance earned by those who work in Gulf countries. What is your say?</strong></span></div> <div> I do not agree with this point. I am not convinced that the mutual investment plan of NRNA has failed. NRNs from all walks of life have invested in the company. There is investment from gulf countries as well as from other countries. I am so upbeat that many friends are enthusiastic to invest in the company. It will continue if we can start some positive initiatives. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have always underlined the importance of NRN investment for the development of the country. But there is no visible progress so far.</strong></span></div> <div> I have put the mutual investment plan in special priority which has been the main agenda since the establishment of the NRNA. I have been saying that NRNs are yet to reach the position in which they can contribute miraculously to the development of the country. The new generation has been struggling to establish themselves abroad. We should not expect much from NRNs who are struggling to establish themselves abroad. Investment has been made from NRNs who have the capacity to invest individually. For instance, Shesh Ghale has already started investment in a five star hotel in Kathmandu. Investment is a process which continues forever. I request all to see the initiatives from NRNs in a positive light. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have also announced to start a 100MW hydropower project. What progress has been made so far?</strong></span></div> <div> We have started to invest in the hydropower sector through NRN Investment Limited which was established using capital from NRNA. NRN Investment Company has taken stake of a majority of shares of the 27MW Dordi Khola hydropower project in Lamjung. We have decided to complete this project in partnership with entrepreneur Chandra Dhakal. We have been studying the possibility to start other projects. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yet, the trust and belief of Nepali people to the NRN has declined. How do you view the situation?</strong></span></div> <div> Trust and belief towards NRNs has not declined; rather it has increased. In recent days, NRNA has received recognition from the government and other agencies. There is organizational representation of NRNs in some crucial agencies including Nepal Investment Board and Economic Advisory Council of the Prime Minister. I have found that all have accepted the NRNA in a positive manner. </div> <div> </div> <div> <span style="font-size:14px;"><strong>There’s visible scuffle for leadership in NRNA. Who do you want to come as your successor?</strong></span></div> <div> It is natural that many friends have expressed their interest to assume leadership. And, many friends are able to take the responsibility. I wish for a leadership that can continue the good image of NRNA. The network of NRNA has been expanding – we have been successful in expanding our network to 65 countries. I want a new leadership with the commitment to run such a huge organization in an efficient manner. I will be neutral during the election. The candidate will be selected through a democratic process.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Does the NRNA get blamed for turning a cold shoulder to problems faced by migrant workers in Gulf countries?</strong></span></div> <div> All migrant workers are also NRNs. They have been facing so many problems but we alone cannot solve their woes. Our duty is to find the root cause and take initiative to reduce the problems. We have always prioritized migrant workers’ rights and we have been working through our welfare fund to safeguard rights of migrant workers. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNA has not been registered thus far. Can the organization go ahead without a legal status?</strong></span></div> <div> It is unfortunate that the organization has not got registered even though it has branches in 65 countries. We have applied six times for registration. The main reason for not being able to register is the contradiction in the statute of the NRNA and NRN Act 2064 B.S. Registration will be our main priority in the future and all sides are positive about this.</div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jiba Lamichhane has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month.', 'sortorder' => '1820', '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' => '1969', 'article_category_id' => '39', 'title' => 'DJPL: Prioritising Import Substitution', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution. As a part of this strategy, the company established Nirog, a primary care division of the company in the last week of June, 2013. </div> <div> </div> <div> The division produces drugs for muscular inflammation, pain and emergency management, one of the segments where medicines are heavily imported from abroad. Hari Bhakta Sharma, Executive Director of DJPL said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets. </div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: left; margin: 0px 10px;"> <tbody> <tr> <td> <img alt="Hari Bhakta Sharma, Executive Director Deurali Janta Pharmaceuticals Pvt Ltd" src="/userfiles/images/cf1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 239px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Hari Bhakta Sharma</strong></div> <div> Executive Director</div> <div> Deurali Janta Pharmaceuticals</div> <div> Pvt Ltd</div> </div> </td> </tr> </tbody> </table> <div> According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Export Dilemma </strong></span></div> <div> The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike n any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases. </div> <div> </div> <div> <strong style="font-size: 14px;"><img alt="Production Capacity" src="/userfiles/images/cf4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 593px;" /></strong><span style="font-size: 14px;"><strong>Product Diversification </strong></span></div> <div> The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The DJPL has been adding new plants and divisions every two to three years to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the domestic market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness. </div> <div> </div> <div> Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health. </div> <div> </div> <div> Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Market Presence </strong></span></div> <div> Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products. </div> <div> </div> <div> Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets. </div> <div> </div> <div> The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment. </div> <div> </div> <div> <img alt="Quality Assurance" src="/userfiles/images/cf2%20(Copy)(1).jpg" style="width: 500px; height: 306px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Quality Assurance </strong></span></div> <div> DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards. </div> <div> </div> <div> Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Human Resource Management </strong></span></div> <div> The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company is devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</div> <div> </div> <div> <img alt="DJPL NEPAL" src="/userfiles/images/cf3%20(Copy).jpg" style="width: 500px; height: 138px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Milestones </strong></span></div> <div> DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being. </div> <div> </div> <div> The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification. </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution.', 'sortorder' => '1819', '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' => '1966', 'article_category_id' => '52', 'title' => 'Doubling The Growth', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional. When government legitimacy comes under serious interrogation mark, economic growth hardly becomes a national agenda.</div> <div> </div> <div> The current state of Nepali economy fits into exact definition of stagflation -- the stagnated growth and uncontained inflation. Average year-on-year growth rate of the economy for the last whole decade beginning 2002 (when growth rate, computed as Gross Domestic Product (GDP) had dipped to negative territory) has hardly crossed 3.5 percent mark.</div> <div> </div> <div> Poor growth rate is not the only worst part of it, but even the lack of meaningful debate on the constraints and remedies is making the situation worst. But the inflation even in official figures is invariably in double digits.</div> <div> </div> <div> If not from the government, tangible initiatives to this end had to come from the private sector. But nothing of that sort happened in the recent past. To fill this gap, the New Business Age (NBA) Pvt. Ltd from this year on, in partnership with some leading business entities of the nation, has taken a maiden initiative to take the growth debate to the centre stage of national economic policy parlance.</div> <div> </div> <div> Nepal in the past did witness some debate over her growth concerns, but most of them were rather slanted or impractical. In different chapters of history, we were made to hear high-pitched rhetoric of double-digit growth, Swiss or Singaporean pace of growth, leap-frogging growth or a growth taking Nepal to a developing from an underdeveloped country status. These all were tall, very tall asks, to say the least.</div> <div> </div> <div> The double digit growth or upliftment of the country’s status to a developing one are essentially the same concepts. For this, Nepal needs at least some Rs. 400 billion of capital expenditure annually, or at least 8.5 percent growth rate, for ten consecutive years. This indeed is unimaginable for several years to come. Other claims were bare political stunts, so had no scope of realizing them at all.</div> <div> </div> <div> In view of these dogmatic misadventures of the past, the NBA wanted a meaningful debate to take off that is based on feasible goals against the existing ground realities. This led to the conclave on the theme 'Doubling of Growth of the Nepali Economy to 7 per cent GDP: The Roadmap Ahead.' Based on the 3.5 percent of growth rate of the past fiscal year, the idea of doubling was born, which looked fairly achievable if we could religiously pursue it.</div> <div> </div> <div> Needless to say, growth in national GDP is a multi-sector endeavour. Among them too, it is important to identify and focus on key sectors that can either serve as prerequisite to long-run sustainable growth like hydropower or yield immediate growth results like agricultural productivity and tourism.</div> <div> </div> <div> But, most important of all is quintessentially lead role of the private sector in investment, production and distribution of all goods and services. Of course, support of the state from the background is needed as security or ground for fair-play. Guided by this philosophy, the NBA coincided the conclave of growth debate, organized in Kathmandu on 24th August, with the opportunity to recognize the contribution of business sector to growth. This recognition came in the form of the 10 categories of business awards.</div> <div> </div> <div> For the sustained prosperity of the nation, we should be able to make the growth not a flip-flop show but a habit. We need to start modest and all big dreams will fall in line with accomplishment of the starting ones. If we achieve 7 per cent growth first, then the double-digit can be followed soon. More important here: we needed a right beginning. And, with this successful conclave, we in NBA feel, the beginning has indeed been right.</div> <div> </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-09', 'keywords' => 'new business age from the editor news & articles, from the editor news & articles from new business age nepal, from the editor headlines from nepal, current and latest from the editor news from nepal, economic news from nepal, nepali from the editor economic news and events, ongoing from the edi', 'description' => 'The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional.', 'sortorder' => '1818', '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' => '1981', 'article_category_id' => '145', 'title' => 'Give Peace Talks A Chance', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Janardan Baral </strong></div> <div> </div> <div> Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism.</div> <div> </div> <div> In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan. </div> <div> </div> <div> This time, APC was unique due to several reasons. Firstly, it was attended by all the invitees. Secondly, it was supported by the public mandate regarding the strategy to deal with the Taliban and the US drone attacks. Moreover, people had voted for the political parties which articulated an anti-drone policy. Thirdly, the APC decided to give free hand to the sitting government on three issues—economy, energy and terrorism. </div> <div> </div> <div> According to agencies, the APC has reposed full confidence in the efforts of the country Prime Minister and authorised the federal government to initiate dialogue with Taliban and take all the necessary steps as it may deem fit including development of an appropriate mechanism and identification of interlocutors.</div> <div> </div> <div> In an interesting revelation, APC was informed by security apparatus that there are groups within the Tehreek-e-Taliban Pakistan (TTP) who are in favour of talks but then there are others that enjoy the backing of certain hostile agencies who may never agree. </div> <div> </div> <div> TTP should come clean on those dubious entities which are operating under its brand name and carrying out disruptive actions. TTP should show its commitment for peace. </div> <div> </div> <div> With the Afghanistan conflict apparently moving towards a close, it is logical that Pakistan should engage in dialogue with select groups of Pakistani Taliban under a well structured framework. Pakistan is already facilitating such processes amongst America, Afghan Taliban and the Afghanistan government. </div> <div> </div> <div> Many analysts say that there is paradigm shift in the country’s security strategy. For instance, the top civil-military leadership has unanimously decided to hold peace talks with all militant groups, keeping the TTP on top priority. The move was hailed by even Taliban in Pakistan and they dubbed the move as an opportunity to hold a ‘meaningful dialogue’.</div> <div> </div> <div> It’s not the first time that Pakistan government has tried to open such talks. However, this time the approach is qualitatively different. This time Taliban are being referred to as “stakeholders.” The government plans to start the talks just as soon as intermediaries complete the necessary “groundwork”. It is encouraging that the Taliban Shura (the decision making body) has promptly convened its session to nominate its team. The TTP would announce its team once the government has finalised its interlocutors. The central leadership of the TTP has claimed that the Prime Minister Nawaz Sharif had sent a letter to the TTP about a possible peace dialogue and the TTP has replied to it.</div> <div> </div> <div> Pakistan’s national leadership also boldly addressed the sticky issue of American drone strikes. It described them as detrimental to the country’s efforts to eliminate terrorism and recommended that the government should consider taking up the issue to the United Nations. APC communiqué also termed the drone attacks an ‘illegal and immoral’ act. “We declare that we shall ourselves determine the means and mode of fighting this war in our national interest and shall not be guided by the United States of America or any other country in this regard.” Pakistani security officials also informed that there was no secret understanding with the US on the CIA-led drone campaign. Hopefully, an unambiguous official stance on drone attacks would help create a conducive environment for the envisaged negotiations. </div> <div> </div> <div> The APC called for a result-oriented and peaceful dialogue process to eliminate extremism from the country. Political leaders admitted that the situation has continued to deteriorate over the last several years and past efforts to control terrorist and extremist elements have not yielded the desired results.</div> <div> </div> <div> </div> <div> </div> <div> It is for this reason that peace talks with Taliban should be given a fair chance to succeed. There are forces which say that Taliban don’t want to be treated like that. However, these elements while speaking in such a tone do not give priority to the interest of Pakistan. </div> <div> </div> <div> These are mainly western voices which want Pakistan to go all out against Haqqqani net work. They must realize the fact that Haqqani network is Afghan entity. While responding to Hillary Clinton’s statement with skepticism, a senior Haqqani commander told Reuters on October 25, 2011 that the “Afghan Haqqani group will not take part in any peace talks with the United States which will not be able to find a possible solution to the Afghan conflict unless they hold talks with the Taliban—led by the Taliban leadership seriously. He revealed, “Americans had made several attempts for talks which we rejected as we are an integral part of the Taliban led by Mullah Omar…we are united to liberate our homeland-Afghanistan.”It is of particular attention that on September 17, 2012, in a rare interview by telephone from an undisclosed location, leader of the Haqqani militant network, Sirajud Din Haqqani disclosed that the group has become so confident after battlefield gains in Afghanistan that “it no longer has sanctuaries in Pakistan, and instead, felt secure inside Afghanistan.”</div> <div> </div> <div> What the world must realise is that Pakistan is a sovereign democratic country and the voice of democratically elected government and other political parties that suggest that talks with Taliban should be given a fair chance.</div> <div> </div> <div> World must also realize that collateral damages in form of drone strikes in Pakistan have resulted in germinating greater ill will against US/ISAF and ultimate sufferers are the people of Pakistan.</div> <div> </div> <div> The crux of the matter is that today Pakistan is the epi-centre of war against terrorism. Sacrifices rendered by Pakistani people in eliminating the menace of terrorism from the world are unparalleled. If we take a pragmatic view of developments in the region following USSR’s interruption in Afghanistan, Pakistan has played a key and very positive role. Today the whole Eastern Europe is enjoying freedom which is result of Pakistan standing tall in thwarting USSR.</div> <div> </div> <div> Situation in Afghanistan deteriorated as US and West changed their priorities and started focusing towards East Europe. 9/11 gave another dimension to the region and the world. Afghanistan has seen use of force and its after effects have been suffered by Pakistan. For the last 13 years this region is suffering with minimum achievements for a durable peace.</div> <div> </div> <div> The proponents of use of force do not want to see this region peaceful. To ensure their safety they are trying to create destruction in other parts of the world. It needs to be reiterated that today’s Pakistan has the capability and the political will to firm up a response against terrorists. No one but only the people of Pakistan can suggest a panacea for the problems that it is facing. The world must acknowledge and respect the decision which the political leadership of Pakistan has taken in holding talks with militants and terrorists.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism. In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan.', 'sortorder' => '1832', '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' => '1980', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief ( 21 - 27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Microbus Plunges into Trishuli, Two killed</strong></span></div> <div> Two passengers died when a microbus fell into the Trishuli River at Darechowk-9 on the Prithvi Highway last Monday. According to Area Police Office Muglin, the micro-bus (Ba.2Kha. 2598) was heading towards Kathmandu from Narayagadh when it plunged into the river below the road. The Police informed that it has intensified the search of other nine passengers missing in the river.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prez Underlines Peoples’ Contribution </strong></span></div> <div> President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>“We will garner two-third majority”</strong></span></div> <div> UCPN-Maoist leader Krishna Bahadur Mahara has claimed no forces can stop UCPN (Maoist) from garnering two thirds majority in the election. He argued that the people will vote for his party as it was the only one capable to develop the country while speaking at a programme in Rolpa last Thursday. Mahara said frequent change of government hinder the development of the nation and called for a stable government.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Anti-poll Activities will be Foiled”</strong></span></div> <div> Minister for Home Affairs Madhav Prasad Ghimire has said the government has made tight security arrangements to hold the upcoming Constituent Assembly (CA) elections in a free, fair and impartial atmosphere. Opening a regional seminar on security in Biratnagar last Thursday, Home Minister Ghimire said the government would not let those attempting to foil the election and create obstructions in the election process walk free. </div> <div> </div> <div> <span style="font-size:14px;"><strong>CA Failed Due to Federalism, Claims KC</strong></span></div> <div> Rastriya Janamorcha Chairman Chitra Bahadur KC has claimed that erstwhile Constituent Assembly failed to promulgate new constitution due to federalism. He added that the scrapping the issue of federal provision from the constitution was a need of the hour. Speaking at a press meet organised in Sandhikharka last Friday, leader KC said the idea of federalism was not the necessity of country. He claimed that the federalism was forcefully introduced following dictates of foreig power centers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Maoist Behind CA Failure”</strong></span></div> <div> CPN-UML Senior Leader Madhav Kumar Nepal has said that it was a result of the ego of the Maoists that the first Constituent Assembly failed to draft a new constitution. Speaking at a programme in Kathmandu last Thursday, the Former PM Nepal stressed the need of a win for the democratic forces in the November 19 CA elections to draft the new constitution.</div> <div> </div> <div> Koirala Hopeful of CA-2</div> <div> Nepali Congress (NC) president Sushil Koirala has expressed the confidence that the second Constituent Assembly (CA) would deliver a republic constitution in the country. Speaking at a programme in Nepalgunj last Wednesday, Koirala claimed that no force can beat the NC loser in the coming election citing growing public support to his party of late.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain.', 'sortorder' => '1831', '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' => '1967', 'article_category_id' => '46', 'title' => 'Etihad Airways’ Global Network Contributes To The Success Of Kathmandu Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 14px;">In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers. In addition to connectivity in between Abu Dhabi and Nepal, Etihad Airways offers its service to more than 87 destinations across the globe. New Business Age asked <strong>Pawana Shrestha</strong>, Etihad Airways’ Country Manager in Nepal about airline’s plan.<strong> Excerpts:</strong></span></div> <div> </div> <div> <strong>Etihad Airways recently celebrated its fifth year of operation in Nepal? How has the journey been?</strong></div> <div> Our services to Kathmandu have been a great success. Since the launch of the route in 2007 we have carried more than 570,000 passengers. In addition to carrying passengers between Abu Dhabi and Nepal, Etihad Airways offers seamless connections to more than 94 destinations around the world. Etihad Airways’ global network has been a major contributor to the success of the Kathmandu route.</div> <div> </div> <div> <strong>What are the future plans of Etihad Airways in Nepal?</strong></div> <div> We will continue to work closely with our travel partners to promote tourism to this beautiful country and carry more passengers to cities across our global network.</div> <div> </div> <div> Our close partnerships with the trade and travel industry in Nepal, has been instrumental in our success in Nepal, with the consistently high load factor across all cabins. We are very pleased to be making meaningful contribution to the Nepali economy.</div> <div> </div> <div> <strong>The United Arab Emirates (UAE) is a lucrative destination for many Nepali migrant workers. What is the percentage of migrant workers that Etihad cater to ?</strong></div> <div> We cater to a fairly large number of Nepali workers. However; we carry even more leisure passengers. In 2012 Nepalese workers made up around 30 per cent of our customer base, leisure passengers made up 50 per cent. The remaining were business and corporate travelers.</div> <div> </div> <div> <strong>Numerous other airlines are operating in Nepal. How tough is the market competition for Etihad?</strong></div> <div> Nepal is a very competitive market and there are around 28 airlines currently operating services to Kathmandu. The Abu Dhabi- Kathmandu route, however, has been very successful. This success is due to our commitment to providing our guests with a remarkable travel experience across their entire journey and our focus on delivering award winning product and services.</div> <div> </div> <div> <strong>What is your Marketing Strategy in Nepal?</strong></div> <div> Our Marketing strategy focuses on raising the profile of Etihad Airways in the Nepali market and increasing awareness of Abu Dhabi as a leisure destination. The core of our strategy, however, is providing an unbeatable product. </div> <div> </div> <div> Our marketing strategy involves working closely with our partners, travel agents, industry magazines and trade associations as well as by deploying various promotions, competitions and discount programmes throughout the year. These include tactical campaigns like regular breaking deals, online deals and highly discounted last-minute offers to encourage repeat visitors.</div> <div> </div> <div> <strong>What are your CSR programmes in Nepal?</strong></div> <div> Etihad Airways is committed to active participation in causes that support people and strengthen communities across its global network. </div> <div> </div> <div> In Nepal, our corporate social responsibility policy centers on projects that assist communities in need and, in the longer term, drive development and empowerment. Therefore, we support orphanages and education projects and homes for the elderly and through medical partners, support critical surgery and health services training.</div> <div> </div> <div> Recently we donated a large amount of waste paper to support a recycling initiative led by Shanti Sewa Griha, a non-governmental organisation providing shelter for the less privileged and fighting discrimination against leprosy patients in Nepal.</div> <div> </div> <div> In 2012 we donated care parcels, made up of packed lunches and blankets, to two social welfare organizations in Kathmandu to keep the less privileged safe from the piercing cold of Nepal.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-28', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers.', 'sortorder' => '1830', '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' => '1976', 'article_category_id' => '138', 'title' => 'Power Swaps Can Help APAC Manage Future Energy Needs: ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources," states the report entitled Energy Outlook for Asia and the Pacific. The report also forecast oil demand to grow by 2% a year, led by the transport sector, with newly affluent South Asians buying an increasing number of motor vehicles. "Natural gas demand will expand at the fastest annual pace of 4% because of the lower environmental burden and ease of use," says the ADB reoprt. The report provides in-depth data and projections on energy use at the sub-region, country, and sector levels until 2035, along with an analysis of the impacts of a “business as usual” approach to power, and an alternative approach in which countries scale up efficiencies and low carbon technologies.</div> <div> </div> <div> “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S. Chander, Special Senior Advisor, Infrastructure and Public-Private Partnerships at ADB. “Countries cannot meet these huge power requirements all on their own, so the region must accelerate cross-border interconnection of electricity and gas grids to improve efficiencies, cut costs, and take advantage of surplus energy.” The reliance on fossil fuels presents major pricing, energy security, and environmental challenges, with Asia and the Pacific’s carbon dioxide emissions set to double by 2035, making up more than half the world’s total output. Without reducing its heavy reliance on oil imports, using power more efficiently, and adopting more green energy options, the region will see a growing energy divide between the rich and poor, and increasing threats from climate change.</div> <div> </div> <div> "Using a mix of efficiency measures, advanced generation technologies, and greater use of renewable power could almost halve the projected annual rise in energy demand through to 2035. More efficient oil refining and gas processing, along with a reduction in demand for electricity, offer the bulk of the energy savings potential," says the report. </div> <div> </div> <div> The report also highlights opportunities for building on existing cross-border power exchange initiatives in Southeast Asia, South Asia, and Central Asia, with the ultimate goal of establishing a pan-Asia energy market by 2030. Closer cooperation will have other positive spinoffs including new economic opportunities and warmer relations.The report was prepared by a team from the Asia Pacific Energy Research Center of the Institute of Energy Economics, Japan, under an ADB regional technical assistance project.</div> <div> </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-28', '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' => 'Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources,"', 'sortorder' => '1829', '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' => '1978', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Canada and EU Agree Free-Trade Deal</strong></span></div> <div> Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr. Martens Up for Sale</strong></span></div> <div> Britain’s iconic Dr. Martens boots look set to find a new home, ending more than 50 years of family ownership. Sources familiar with the situation say the Griggs family is in talks to sell its 91.5% stake in the company to private equity firm Permira for £300 million ($486 million). Dr. Martens leather, lace up boots have been a signal of youth rebellion since they were first produced in 1960. Waves of subcultures -- from skinheads to punks and gothic followers -- have embraced the footwear.</div> <div> </div> <div> <span style="font-size:14px;"><strong>China’s Economic Growth Speeds Up </strong></span></div> <div> China’s economy powered ahead in the third quarter, taking some pressure off the country’s leaders as they seek to execute painful structural reforms. Gross domestic product grew 7.8% over the previous year during the third quarter, the National Bureau of Statistics reported Friday. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Shutdown encouraged foes, depressed friends’</strong></span></div> <div> US President Barack Obama has warned that America’s recent bout of political dysfunction had encouraged its enemies and dismayed its friends, and said the crisis left “no winners” in Washington. “Let’s be clear. There are no winners here,” Obama said. He spoke less than 11 hours after signing legislation that ended a 16-day government shutdown and a showdown over raising his government’s borrowing authority. </div> <div> </div> <div> <span style="font-size:14px;"><strong>WB Lowers India’s GDP Growth </strong></span></div> <div> The World Bank has revised downwards India’s economic growth forecast for the current fiscal to 4.7 per cent. This is against the 6.1 per cent growth projected in April. India’s GDP growth is, however, expected to accelerate to 6.2 per cent in 2014-15, the World Bank said in the latest India Development Update released on Wednesday. </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.', 'sortorder' => '1828', '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' => '1961', 'article_category_id' => '122', 'title' => 'Keyal Group’s Key Areas', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</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="Satya Narayan Keyal, Chairman, Keyal Group" src="/userfiles/images/spt2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Satya Narayan Keyal</strong></div> <div> <em>Chairman, Keyal Group</em></div> </div> </td> </tr> </tbody> </table> <div> The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.</div> <div> </div> <div> The first manufacturing unit was established in the mid-90s – a milestone for the family’s journey towards manufacturing. Narayani Rolling Mills Pvt Ltd, the first manufacturing venture of the group, has been producing steel products to meet local needs.</div> <div> </div> <div> According to Satya Narayan Keyal, Chairman of the group, the initial days of entering the manufacturing sector were not easy. In the absence of a robust banking sector, managing large scale funds for investment was not quite the same as it is today. “It was pretty tough to borrow loans as the banking sector was less developed,” recalls Keyal who believes that growing competition in the banking and financial industry in the 2000s has benefitted industrialists at large. However, the challenging environment provided various learning experiences to the group that helped design its next move for the future.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Market</strong></span></div> <div> While the group was gradually growing, the Nepali market was expanding as well. Keyal says that the market for manufactured goods has increased in recent times due to the growing purchasing power of the general public. He adds that technological advancement has helped the group’s factories produce better quality products that support companies in the increasingly competitive market. The competition is not always healthy and for Keyal Group, it is not an exception. Unhealthy competition has brought about difficult situations time and again, but the group holds on to its promise to deliver quality products, regardless.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Focus Areas of the Group </strong></span></div> <div> The Keyal Group has focused on the manufacturing sector with half a dozen industrial units specialised on production of steel rods, angles and flat squares, pipes, MS plates, shutter strips and cement. Steel products produced by Narayani Rolling Mills Pvt Ltd have been certified with Nepal Quality Certification Mark (NS). Likewise, Makalu Axum, a subsidiary company of the group is the authorised distributor for liquor of the Magic Moments brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/spt1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 440px;" />Capturing the Market</strong></span></div> <div> The target market for the group’s major products such as steel, cement, rods and pipes, among others, is the central and eastern regions of Nepal. The group does not wish to remain confined to these areas and is planning to explore more market potential within and outside the country. “We have a big market presence in the central and eastern regions and have plans to export our products to India in the near future,” says Keyal. As a part of this plan, the group plans to export pipes manufactured by Shree Krishna Steel to India.</div> <div> </div> <div> The group has adopted a policy to not compromise with the quality it is offering. With state-of-the- art technology and service to produce quality products, Keyals says: “We have understood the needs and demands of our clients and have targeted products accordingly. But our products are by no means expensive.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Structuring Management</strong></span></div> <div> According to Keyal, each human resource staff and management unit are attuned to realise the company’s policy of zero compromise in quality, offer products at a relatively lower price, and remain accountable and responsible to the market, customers and promoters. </div> <div> </div> <div> Similarly, the group has always treated its employees as member of its extended family. When it comes to human resource management, the group has attempted to understand the necessities and aspirations of its employees and motivate them accordingly. For motivation, the group has been using rewards and encouragement while adhering to organisational discipline, culture and responsibilities.</div> <div> </div> <div> The group has 350 employees working in its manufacturing unit and sister companies while another 350 are working along the market value chain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Addressing Challenges</strong></span></div> <div> A key challenge the group is facing at the moment is duplication of products that has tarnished the image of the common market. Availability of counterfeit products has prohibited market growth and expansion. Additionally, in the absence of major construction and infrastructure projects in the country, the market of construction materials, where the group has expertise, is limited to the consumer market instead of reaching large scale institutional clients. According to Keyal, the slowdown of the housing and real estate industry has affected construction material producing subsidiaries. However, the group has not lost hope. It has held on to the belief that a market can be created and clients can be attracted by offering quality products at reasonable price. With this philosophy, the group has been working to expand its market and attract customers towards its projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Constant Hope</strong></span></div> <div> Some business and industrial houses have constricted their operation and even closed down their companies citing political instability and a murky business environment. But the Keyal Group chooses to see the light at the end of tunnel. Keyal hopes for political stability to speed up the economic growth of the country which would boost construction and development projects. “It would also create higher demand for our products. We are hopeful and are waiting for that moment to arrive soon,” he says.</div> <div> </div> <div> <span style="font-size:14px;"><strong>CSR</strong></span></div> <div> The group has been consistently involved in corporate social responsibilities and has believed in giving back to society throughout the years. Similarly, the group has contributed to the construction of temples and funded religious activities in Birgunj and surrounding areas. Alongside this, the group has contributed to post-conflict reconstruction of infrastructure that has benefitted a larger number of people.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong style="font-size: 16px;">Some Companies under the Keyal Group</strong></div> <div> <div> </div> <div> <span style="font-size:14px;"><strong>Narayani Rolling Mills</strong></span></div> <div> This steel manufacturing unit located in Chhatapipara of Bara district produces TMT steel rods ranging from 8mm to 25 mm and plain rods of 8 to 36 mm. TMT steel products have been certified Nepal Quality Certification Mark (NS). The unit also produces flat square rods, angles and tor-karis among others. The group claims that this is probably the first company in Nepal to produce a large variety of products required for construction projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Shree Krishna Steel Pvt Ltd</strong></span></div> <div> This steel factory at Jitpur, Bara district produces MS Black Pipe (0.5 to 6 inches), MS plates, shutter strips, and shatter guides, among others. It also produces hot rolled sheets, MS pipes, shutter section and related products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Star Cement Udhyog Pvt Ltd</strong></span></div> <div> This cement producing unit located at Jitpur, Bara district produces cement and markets PSC products under the ‘Arati’ brand, and OPC products under the ‘Shikhar’ brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Makalu Axum</strong></span></div> <div> This is the importer and authorised distributor of Magic Moments liquor for Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Enterprises</strong></span></div> <div> This subsidiary of the group imports various consumer products from India and other countries to distribute across the country. The company is also based in Birgunj.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Hardware</strong></span></div> <div> The hardware product distributor has its network spread over major cities like Kathmandu, Banepa, Butwal and Itahari.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Landmark Years:</strong></span></div> <div> 2052: <span class="Apple-tab-span" style="white-space:pre"> </span>Establishment of Narayani Rolling Mills Pvt Ltd, the first manufacturing unit of Keyal Group.</div> <div> 2056: <span class="Apple-tab-span" style="white-space:pre"> </span>Shree Krishna Steel Pvt Ltd, second manufacturing unit of the group, was established.</div> <div> 2060: <span class="Apple-tab-span" style="white-space:pre"> </span>Star Cement Udhyog Pvt Ltd was established. It produces PSC and OPC grades of cement. </div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.', 'sortorder' => '1827', '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' => '1960', 'article_category_id' => '91', 'title' => 'Informal Trade Still A High In South Asian Region By The Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. </div> <div> </div> <div> South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week. </div> <div> </div> <div> The audit report will aim at providing factual information on the reliability and efficiency of transportation infrastructure, logistic operations, customs and border management regulations and procedures, said research director at SAWTEE, Pushpa Sharma. </div> <div> </div> <div> The audit report is expected to reveal the status of customs facilitation for bilateral trade among South Asian countries, according to Sharma. “After the study of trade facilitation at a bilateral level, the study will focus on identifying regional problems regarding trade facilitation,” he said.</div> <div> </div> <div> Informal trade is still a big challenge in the region but we do not have any authentic data, he said. The audit will not directly calculate the volume of informal trade but will study the causes of informal trade and recommend appropriate measures to reduce the volume of informal trade.</div> <div> </div> <div> Costs related to trade facilitation, infrastructure and transit have risen over the years, which has promoted informal trade in South Asia, according to experts. </div> <div> </div> <div> Effective trade integration is necessary to reduce the cost burden, said former member of National Planning Commission, Dr Posh Raj Pandey. “Trade facilitation is a must to improve overall cost related trade barriers but we should have a benchmark to improve the condition of trade facilitation,” he said, adding that the audit will provide the benchmark with all trade barriers in the formal channel.</div> <div> </div> <div> Despite the fall in traditional trade barriers, the given circumstances in the region have forced exporters, businesses and consumers to bear additional cost burden, according to him. </div> <div> </div> <div> Economist Dr Ratnakar Adhikari said that generally, costs are incurred due to lack of regional trade connectivity and impenetrable borders. Regional commitment is required to address the identified bottlenecks, he further said. </div> <div> </div> <div> Iqbal Tabish, Secretary General of the SAARC Chamber of Commerce and Industry, mentioned that benefits of trade liberalization will not be realized unless trade facilities are rationalized.</div> <div> </div> <div> Finance minister Shanker Prasad Koirala stated that the cost of trading within the region among South Asian countries is twice, and in some cases, even three times, than trading with countries outside the region.</div> <div> </div> <div> Despite the existence of several regional efforts, such as Agreement on South Asian Free Trade Area (SAFTA), intra-regional trade in South Asia has remained extremely modest due to a number of factors, one of which is trade and transport facilitation-related bottlenecks.</div> <div> </div> <div> In a separate programme organised by International Finance Corporation (IFC), chief secretary Lila Mani Paudyal said that the government is committed to improving its trade competitiveness. “Reducing the time and costs to international trade, in particular, is critical for the Nepali private sector to compete internationally and access global markets,” he said. </div> <div> </div> <div> </div> <div> The Department of Customs is implementing its four year Customs Reform and Modernization Strategy and Action Plan since July 2013 which comprises of four building blocks: Trade Facilitation, High Revenue Yield, Organizational Development, and e-Customs, according to Surya Prasad Acharya, Director General of the Department of Customs. </div> <div> </div> <div> IFC is committed to enhance trade facilitation including focusing on simplifying border processes & procedures, and improving risk management systems, said IFC Resident Representative in Nepal Valentino S Bagatsing. “The reforms in the trade environment will provide a much needed boost as Nepali businesses position their products in accessing global markets,” he said.</div> <div> </div> <div> IFC’s South Asia Regional Trade Integration programme aims to assist the government in focusing its reform efforts to create an enabling environment for improving trade facilitation and logistics. IFC works with both private sector and government agencies in identifying areas where reform efforts can help maximize improvements for the private sector to improve cross-border trade and investments.</div> <div> </div> <div> <div> <span style="font-size:14px;"><strong>Main Explanatory Factors for Informal Trade </strong></span></div> <div> •Businesses have incentive to escape trade related regulations and duties </div> <div> •Complex, non-transparent or divergent regulatory requirements (e.g., customs formalities, technical regulations and sanitary standards) </div> <div> •Long and costly customs delays when trading formally</div> <div> •Obstructed entry or exit of certain commodities, caused by import quotas or export bans </div> <div> •Foreign exchange controls</div> <div> •Weak law enforcement at the borders</div> </div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week.', 'sortorder' => '1826', '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' => '1959', 'article_category_id' => '201', 'title' => 'Fashion Means Business In The Corporate World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality.</div> <div> </div> <div> Corporations usually insist on having dress codes because they know that the way you look is speaking about yourself without words. If you look a certain way it’s like introducing yourself. Corporations are usually not associated with fashion, but they are so much, and this is why we want to introduce to you this term.</div> <div> </div> <div> Fashion means business. Fashion is an essential tool when you address to someone. Style is an international code and carrying a message with the perfect style is indispensable. You know that our philosophy is that fashion and attitude and may we add intelligence, go hand in hand.</div> <div> </div> <div> Talent, enthusiasm and learned lessons need to be crowned with the perfect look. Fashion is the physical expression what lies on the inside. Art director Fabien Baron says: “I like beauty, but it needs to vibrate.” And that is a true thing.</div> <div> </div> <div> Dressing up for business is basically the definition of professional dressing.</div> <div> </div> <div> Just like in business, in fashion you need to find your formula and take it to the highest level you can.</div> <div> </div> <div> Fashion, just like the business world, is dynamic and always changing. Keeping up with the trends is a must, but the basic rules are always the same.</div> <div> </div> <div> Even if there are hundreds of rules, you can still achieve greatness. The more constrains you have, the more creative options you have. (With inputs from agencies)</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality', 'sortorder' => '1825', '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' => '1958', 'article_category_id' => '137', 'title' => 'Economists Fear Debt Ceiling Fight May Bring Recession', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.</div> <div> </div> <div> A couple more say a recession is possible depending on how far past the deadline Congress goes before acting. And even those who aren’t predicting recession say not raising the debt ceiling would be a very bad idea.</div> <div> </div> <div> “Financial markets are already being impacted in the short-run as a result of heightened uncertainty,” said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. But he said there would be greater long-term damage due to the spending cuts that would occur.</div> <div> </div> <div> “The fiscal shock treatment of having to eliminate the deficit in one fell swoop would reduce GDP by more than 5% and cause a severe recession,” he said.</div> <div> </div> <div> The Treasury Department has also been sounding the warning bells about the debt ceiling. In a report Thursday, Treasury said failure to raise the limit would have a “catastrophic effect” on the economy, sparking an even deeper recession than the 2008 downturn that accompanied the meltdown in financial markets.</div> <div> </div> <div> The economists agree the threat posed by not raising the debt ceiling is significantly greater than that posed by the federal government shutdown that started Tuesday. None predicted a recession being caused by the shutdown alone.</div> <div> </div> <div> “A short to medium duration partial shutdown is not enough to cause recession,” said Sam Bullard, economist with Wells Fargo Securities.</div> <div> </div> <div> But if the debt ceiling isn’t raised, the economists have many different worries, including disruptions in financial markets, followed closely by a loss of confidence in the dollar and Treasuries and very deep cuts in government spending.</div> <div> </div> <div> “No one can know for sure exactly what would happen in the event of a default, but we can all be sure that it would be bad,” said Russell Price of Ameriprise Financial.</div> <div> </div> <div> Even those economists who aren’t predicting a recession are worried about the risks posed by the debt ceiling.</div> <div> </div> <div> “Merely missing the debt ceiling deadline will not trigger a recession, but the risks will rise rapidly with each week after the deadline passes,” said Patrick O’Keefe, director of economic research at accounting firm Cohn Reznick.</div> <div> </div> <div> Some of the economists believe if Congress doesn’t raise the debt ceiling then the administration will act unilaterally. That might cause a constitutional crisis but they believe it would avoid a financial crisis.</div> <div> </div> <div> “My expectation in this scenario is that the President finds a sufficiently plausible constitutional rationale to ignore the debt ceiling and keep on meeting all US Federal obligations on time with no exceptions,” said Bill Cheney, chief economist with Manulife Asset Management.</div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">US Debt Crisis Threatens World Economy: IMF</strong></p> </div> <div> Terming the current debt crisis in America as “mission-critical”, the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. “The ongoing political uncertainty over the budget and the debt ceiling does not help. The Government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the US economy, but the entire global economy,” the IMF Managing Director, Christine Lagarde, said on Thursday. “So it is “mission-critical” that this be resolved as soon as possible,” Lagarde said in her address to the George Washington University. The United States, she said, needs to “slow down and hurry up.” By that she meant less fiscal adjustment today and more tomorrow, she added.“That means replacing the sequester with more back-loaded measures that do not hurt the recovery. At the same time, the US needs to do more to make debt sustainable down the road — by containing the growth of entitlement spending and raising revenues,” Lagarde said.</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.', 'sortorder' => '1824', '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' => '1957', 'article_category_id' => '116', 'title' => 'Nexus Announces Cisco Select Certified Partner Status', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="" src="/userfiles/images/nexus.jpg" style="width: 500px; height: 71px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security. Cisco is ranked second in x86 Blade Servers as per IDC’s Q2 2013 figures. Nexus Solutions provides the complete suite of Cisco solutions and has certified and qualified Cisco resources to design, implement and support Cisco solutions for enterprise and SMB customers in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Partners with XRoads Networks</strong></span></div> <div> Similarly, Nexus Solutions also signed up with XRoads Networks as an authorized partner. XRoads Networks is the inventor of Unified Bandwidth Management Solutions and its product features include Accelibond Internet Link Bonding, Adaptiband Dynamic Bandwidth Management, Site2Site VPN Virtualisation, Xflow Real-time Network Reporting, ActiveDNS Inbound Load Balancing, Server Load Balancing, MultiWAN Link Load Balancing, Application QoS/Throttling & Comprehensive Cloud Firewall/LAN Router. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security.', 'sortorder' => '1823', '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' => '1956', 'article_category_id' => '190', 'title' => 'Samsung Galaxy Note 3 + Galaxy Gear Smartwatch: A Smart Combo', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Note 3 </strong></span></div> <div> The Galaxy Note 3 is the third in the line of Samsung's popular Note 'phablet' series. This time it has just become even more powerful and bigger. Powered by a 1.9 Ghz octa-core Qualcomm Snapdragon 800 processor along with 3 GB of RAM and Adreno 330 (N9005) GPU, the Galaxy Note 3 runs on Android 4.3 Jelly Bean with the latest Samsung Touchwiz UI overlay. The Samsung Galaxy Note 3 has a 5.7-inch Full HD display that comes with the latest edition of Samsung’s S-Pen stylus. The 1920x1080 resolution (386 pixel density) of Super AMOLED capacitive touchscreen displays vibrant colours giving sharp and crisp experience to the users. The sheer power of Note 3 turns the phablet into the most powerful smartphone available in the market till date. With these specs, users can easily do their computing needs including high-end mobile gaming and smart multitasking. The powerful processor and mammoth RAM size helps to instantly load apps with no noticeable lag. Though being a phablet, users won't feel it too large in their hands as the Note 3 is thin at just 8.9 mm and weighs around 168 grams. </div> <div> </div> <div> The Note 3 sports 32 GB internal storage. The phablet also houses a micro SD card slot which can be used to expand the storage capacity up to 64 GB. The Note 3 comes with enhanced privacy and security protection provided by Samsung KNOX feature. Users can activate Samsung KNOX with ease which allows them to run and store security-sensitive applications and data inside a protected execution environment called "container." Furthermore, the phablet is equipped with an improved "Find My Mobile" feature that allows users to disable the phone when it is stolen or lost. The Note 3 sports USB 3.0 support, which makes transferring movies and music to the device much faster than most other smartphones. The phone has 4G LTE, Bluetooth 4.0, Wi-Fi, Near Field Communicator (NFC) and Infrared for internet and other kinds of connectivities. </div> <div> </div> <div> The phablet also has decent power backup as it comes with a 3,200 mAh battery. The Note 3 houses a 13 megapixel camera at the back side which produces clean, colourful and sharp images in decent lighting. The camera is capable of capturing ultra high-definition 4K video. Similarly, for 3G calls the phablet sports a 2 MP front facing camera. The build quality of the phone is another striking feature. Unlike other smartphones with plastic back panels, Samsung has covered the back panel of Note 3 with leather which gives users a premium and exclusive feel. Samsung Galaxy Note 3 is priced at Rs 91,500 in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Gear </strong></span></div> <div> Another attraction of the launch event was Samsung Galaxy Gear smartwatch. The highly anticipated wearable gadget not only lived up to the hypes but also gave a glimpse of the changes occurring in the technology market. The Galaxy Gear seems to be changing the way of wearing wristwatch and managing the digital life of users in the near future. The stylish computerised watch allows users to check their e-mails, messages and take photos. The Gear also lets users make and take phone calls right from the wrist using a built-in speaker and microphone. The 1.64 inch Super AMOLED touch screen of the smartwatch has 320 x 320 pixels resolution with an image density of 277 ppi. It comes with an 800 Mhz processor, 4 GB internal storage and a 1.9 MP camera that is attached to the left side of hand strap. Samsung has linked the Gear with Galaxy Note 3. Galaxy Gear will notify users and give quick previews of incoming texts, e-mails and more from synced Note 3. Similarly, users can click videos and images from the Gear and transfer it to their Note 3 device via Bluetooth 4.0 connectivity. The Gear also sports an accelerometer and a gyroscope. This wearable computerised wristwatch carries a price tag of Rs 46,500 in the Nepali market. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu.', 'sortorder' => '1822', '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' => '1970', 'article_category_id' => '37', 'title' => 'Commercial Bench In Nepali Courts Prospects And Challenges', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Rudra Sharma</strong></div> <div> </div> <div> The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address. However, there were demands of a commercial court/bench for the last 20 years or so. People in seminars organized by Nepal Rastra Bank in association with the World Bank and International Monetary Fund identified the need of a commercial court/bench in Nepal for appropriate and speedy dispensation of justice in commercial case.</div> <div> </div> <div> In 2063 BS, the Supreme Court has set up a task force on this regard. The task force reviewed several exercises together with some international practices for establishment of Commercial Bench. The Task Force studied the reports of Court Management Committee, 2055 Court Strengthening Committee, 2058 and the Five Year Strategic Planning of the Court (2061- 2066). The Ministry of Law and the Ministry of Industry had also carried out some consultation with the Supreme Court in the year 2059 for the establishment of Commercial Court.</div> <div> </div> <div> A project carried out under the loan assistance of Asian Development Bank namely Improving Legal Enforcement Mechanism and Judicial Capacity had a component called Establishment of Commercial Bench under its package 2 activity. From Manshir 2059, this project carried out activities on establishment of Commercial Bench. This project had hired an expert Hon. C.</div> <div> </div> <div> W. Pincus QC who submitted a report recommending a number of things on establishment of commercial bench. Nepal Judicial Academy (NJA) also worked very closely with this project on the Commercial Bench component. This project had also worked with private sectors like Federation of Nepalese Chambers and Commerce and Industry (FNCCI) and others in this course.</div> <div> </div> <div> According the report of the Task Force, Commercial Cases Baseline Survey, 2003 carried out by Nepal Law campus presents 17 different kinds of cases as commercial cases tried and tested in several courts all over the country. The 17 different kinds of cases are - Company, Secured Transaction, Contract, Insolvency, Banking and Negotiable Instruments, Arbitration, Intellectual Property, Finance, Foreign Investment, Insurance, Security Transaction, Agency, Partnership, Construction, Leasing/Rent, Transportation and any others.</div> <div> </div> <div> Analysing the evolution of concept of Commercial Bench and a comparative study on commercial dispute settlement of some other countries like United Kingdom, United States, India and China, the Task Force has finally put forth 26 suggestions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Establishment of Commercial Bench </strong></span></div> <div> On 2065 Magh 1, the government of Nepal established a Commercial Bench in four Appellate Courts namely Biratnagar, Patan, Butwal and Nepalgunj and later added Hetauda Appellate Court also through a notification on 2067 Baisakh 1. These Commercial Benches are provided with jurisdiction to look after cases of Secured Transaction Act, 2063, Competition Promotion and Market Promotion Act, 2063, Company Act, 2063 and Insolvency Act, 2063.</div> <div> </div> <div> Later, the government of Nepal, through a notification published on 2065 Shrwan 5, extended the jurisdiction of the Commercial Benches for the disputes under Banking Offence and Punishment Act, 2066. Most of the cases going to Commercial Bench were filed in the Commercial Bench of Patan Appellate Court. Some 99 commercial cases were filed in the Patan Appellate Court up to the fiscal year 2067, some 154 cases were filed in the fiscal year 2067/068, some 237 cases were filed in the fiscal year 2068/069 and some 263 cases were filed before the completion of the fiscal year 2069/070.</div> <div> </div> <div> After the establishment of the Commercial Bench, a procedure for the same was supposed to be made. In fact, a procedure is also drafted. However, the procedure has not come into force. Company Act, 2063 and Competition & Market Promotion Act, 2063 have provided that lawsuits under these Acts should follow summary proceeding. The Insolvency Act provides for a procedure within itself and that procedure is being followed now generally.</div> <div> </div> <div> No special procedure is prescribed for Secured Transaction Act and Banking Offence Act. These two Acts seem to follow general procedure. Despite the lack of a specific procedure for the Commercial Bench, Chief Judge of the Appellate Court where the Commercial Benches reside have provided for necessary procedural matters as and when required. For example, cases of Commercial Bench are heard by a division bench, other cases related to the case filed in the Commercial Bench are also heard in Commercial Bench, so on and so forth.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Commercial Bench & Expectations</strong></span></div> <div> The primary expectation with the Commercial Bench was that it would look after all the commercial cases gradually. It was a good beginning that the Commercial Bench was assigned to hear cases under three categories and later under five categories. However, it was very unfortunate that the jurisdiction of the commercial bench was not extended to other cases under other Acts.</div> <div> </div> <div> The basic benchmark to evaluate the function of the Commercial Bench is its comparative worth and value, i.e. what and how it contributed compared to previous court system where there were not Commercial Benches. There are hardly any evidences that the Commercial Bench could prove its worth. This is because, we already have had a regular court system and the Commercial Bench was brought to existence for a better performance and better dispensation of justice with respect to commercial cases. But, unfortunately it did not happen.</div> <div> </div> <div> The Task Force report mentions that the erstwhile judiciary of Nepal was looking after some ten kinds of commercial cases even if there were no such commercial benches. The cases were - dispute related to loan or credit, dispute about security or pledge, dispute related to buying and selling of property, dispute related to trademark, dispute related to commercial loan, dispute related to liquidation of company, dispute related to shareholders of company, Torts related trade and commerce and other economic cases.</div> <div> </div> <div> According to primary expectations and the decade long preparations, the scope of the Commercial Court was supposed to be extended to other commercial cases too and subsequent legal reform as well as administrative reform were also supposed to be made in order to pave a way for the same.</div> <div> </div> <div> It did not happen unfortunately, and this proved to be a major setback for creating condusive environment for invitation of foreign investment in Nepal and also for maintaining as well as retaining investment in Nepal. The exact expectation of about the Commercial Bench was to develop it as a real center for commercial dispute settlement.</div> <div> </div> <div> The Task Force report states that the concept of commercial bench was evolved in an endeavour to create sufficient legal and judicial environment for business as well as economic activities. But we can hardly find evidences to understand how the commercial bench contributed to create such environment. However, it does not mean that the commercial bench did not do anything. But, it should be judged in comparison to the contribution of the regular court system before establishment of commercial bench. According to the Task Force report, the regular court system was looking after 10 different kinds of commercial cases. As the commercial benches took up only cases under five categories, it gave a kind of impression that commercial cases are related to those five cases only.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Challenges</strong></span></div> <div> The major challenge of the Commercial Bench is the mindset of the judicial leadership. The judicial leadership probably thinks that the regular Appellate Courts would be less important if all commercial cases would go to the Commercial Bench. I wish to be wrong at this point. But, it would be very dangerous if the judicial leadership continues to be influenced by such thinking.</div> <div> </div> <div> Another challenge is the lack of competent human resources required for the Commercial Bench. This challenge can be overcome with appropriate will power and leadership of the judicial administration. We cannot import or invent such competent human resources. However, there would be no additional cost for managing the resources already available in the market.</div> <div> </div> <div> On the one hand, commercial cases are not coming to the Commercial Bench due to lack of proper legal arrangements on jurisdiction and on the other hand, there are competing and repeating jurisdictions for the dispensation justice through commercial cases. Several cases are put in arbitration process. Almost all of them are commercial cases. But, the appeal on arbitration settlement goes to the Appellate court but not to the Commercial Bench. The Debt Recovery Tribunal hears cases relating to debt recovery of the banking institutions. Revenue Tribunals look after cases related to taxes. Labour Court hears the cases related to labour issues.</div> <div> </div> <div> The money laundering related cases are handled by the money laundering department. Corruption cases are handled by Commission for the Investigation on Abuse of Authority (CIAA). Criminal Investigation Bureau of Nepal police also carries out investigation in some commercial cases.</div> <div> </div> <div> Thus, the commercial cases are scattered and thereby losing the scope of making the Commercial Bench a hub for settlement of commercial disputes.</div> <div> </div> <div> The Commercial Bench has jurisdiction over the Banking Offense Statute, but it does not have jurisdiction over Banking and Financial Institutions Act (BAFIA). It has been ridiculous practically. Such examples are there in other sectors too.</div> <div> </div> <div> Some of the practices of Appellate Court where the Commercial Bench resides have defeated the very purpose of the Commercial Bench. A case demanding for interim relief does not go to the Commercial Bench. Regular Bench hears it. Once a party receives interim order, it keeps on postponing the hearing date, pending the interim order. Sometimes, such cases are postponed for many times even from the weekly calendar putting a trouble to the opposite party to even to identify whether the hearing date was postponed or not.</div> <div> </div> <div> Such practices are serious fraud on the administration of justice and responsible persons must be punished.</div> <div> </div> <div> In most of the times, dispute on contract cases that happen to be commercial cases do not go to Commercial Bench. The prevailing contract law has provided interim relief in the form of appropriate order. In such situation, the existence of Commercial Bench happens to be a great irony.</div> <div> </div> <div> Great difficulty is experienced in Nepal for administration of contract, especially international contract. The courts generally provide stay order depriving the aggrieved party from carrying out the necessary activities according to the contract. Such a situation causes great mockery of the existence of the Commercial Bench.</div> <div> </div> <div> Due to the above reasons, the expectation that Commercial Bench would establish a minimum predictable legal environment on doing business in Nepal remains a distant dream. This has put a great threat for the invitation of foreign investment in Nepal. The Commercial Bench should overcome all these challenges in the time to come.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Experiences of India on Commercial Bench</strong></span></div> <div> In the year 2009, the Lok Shaba of India passed the Commercial Division of High Court Bill, 2009. But, the Bill is yet to be passed by the Rajya Saba.</div> <div> </div> <div> The Bill envisages separate divisions in each high courts to handle commercial disputes above certain value along with a procedure for the same. In the same year 2009, the Delhi high court established arbitration center and gave a message that the Indian judiciary was not anti-arbitration. In the same year 2009, London Court of International Arbitration set up a center in India. These two institutions paved way for institutional arbitration in India as an effective tool for settlement of commercial disputes.</div> <div> </div> <div> The Indian courts have made controversial interpretations of the Indian Arbitration & Conciliation Act, 1996. In the case of SBP & Co versus Patel engineering the Indian Supreme Court upheld the role of courts in appointment of arbitrator if one of the parties fails to nominate an arbitrator. This decision has been criticized as it put a great hurdle to separate arbitration from court. But in the year 2012 September, the Indian Supreme Court in the case of Bharat Aluminum Company Ltd. ( BALCO) versus Kaiser Aluminum Technical Service ruled that the Indian Arbitration Act will not apply if the arbitration proceeding are held outside India. This ruling of the Indian Supreme Court has been praised from many quarters as it has helped to separate domestic and international arbitration as well as separating arbitration from the courts.</div> <div> </div> <div> It seems that the establishment of arbitration center at the Delhi high court demonstrates the willingness of Indian judiciary to make the high court as hub of settling commercial dispute and the Supreme Court ruling of</div> <div> </div> <div> 2012 in the case of BALCO shows the willingness of Indian judiciary to separate arbitration from judiciary. It seems that these all issues will be categorically addressed by the pending Bill called the Commercial Division of High Court Bill, 2009. The underlined aim of all these schemes would be making India a preferred investment destination as the courts will provide a minimum predictability on legal environment.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>International Dimensions</strong></span></div> <div> Nepal became member of World Trade Organization (WTO) nine years ago making several commitments for harmonization as well as standardization of administration of trade law in accordance with the provisions of the United Nations Commission on International Trade Law (UNCITRAL). Section 34 of the Arbitration Act, 2055 provides for enforcement of foreign arbitral awards.</div> <div> </div> <div> But, there are some cases where the Appellate Court has refused for enforcement of some foreign arbitral awards and the appeal on such decisions of the Appellate court are pending at the Supreme Court. Our legal ecosystem should be clear at this point and the commercial bench should take lead on this.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How Commercial Bench should be </strong></span></div> <div> Therefore, the commercial bench in future should be able to be a hub and ultimate resort for the settlement of disputes related to commercial laws.</div> <div> </div> <div> Further, it should be established as a center of trust among the investors as well as among the public that the commercial bench ensures settlement of commercial disputes in tune of time. It will not be necessary that the commercial bench itself hears all disputes. But it should be the ultimate resort for settlement of such disputes. For this purpose, we need to make legal as well as administrative mechanisms that all commercial law related cases can ultimately reach to the commercial bench.</div> <div> </div> <div> We can continue separate arrangements of hearing commercial law related cases at the court of first instances like Labour Court, Revenue Court or Tribunal, Debut Recovery Tribunal. Besides, we also need to encourage to settle commercial law related cases through the means of alternative dispute settlement like arbitration, mediation, conciliation etc. However, commercial law disputes settled in all these court of first instances and cases settled through alternative dispute settlement mechanism should ultimately find their way to the commercial bench. Such arrangements should be all over the country not only in Kathmandu. We can make an arrangement that disputes involving certain amount or above should go directly to the commercial bench instead of the court of first instances.</div> <div> </div> <div> The commercial bench should also take over the newly emerging commercial cases. Cases related to banking institutions are prominent example, such as cases related to bounced, dishonoured of cheques, debt recovery and banking offence. There is a need of legal as well as administrative provisions on asset management. Lack of this has hampered expected functioning of banking system.</div> <div> </div> <div> The commercial bench in future should look after comparatively complex cases on banking law. There is a room to argue that the Banking Offenses Act seems to be draconian, providing scope for being misused. This Act is disproportionate since this gives higher hand to the regulating body Nepal Rastra Bank to take such action that may kill the institution instead of correcting it and functioning it again after action from Nepal Rastra Bank.</div> <div> </div> <div> Nepal Rastra Bank may feel the need of such law since the court system is not effective as mentioned above. However, a draconian law would not be an answer for non-effective court system. So, we need to improve the court system rather than practicing draconian laws. We need such legal system where the central bank can take action against the banking institutions for corrective measures, put them in the legal process and the banking institutions again functions after the central bank takes action. Taking action by central bank against banking institution should be a regular process rather than a fateful disaster.</div> <div> </div> <div> Other newly emerging cases on commercial law are related to money laundering, insolvency and trans-border commercial cases. Money laundering is a part of criminal law. But since it is a matter of financial crime but still it can be seen within the parameter of commercial law. International commitments as well as domestic needs have compelled to make the legal as well as administrative regimes on money laundering more stringent. It is said that this regime in the offing will compel to change over 40 prevailing laws on administration of criminal justice. The future commercial bench should be a center for hope and trust for the settlement of cases related to these all emerging commercial laws.</div> <div> </div> <div> The commercial bench should have a proper reporting system. The cases settled by commercial bench should be discussed publicly in the Bars and among the academics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Conclusion and Recommendations </strong></span></div> <div> Though Commercial bench could not prove its expected significance as we need to appreciate the initiations made and need to continue efforts to update and standardise it in accordance with need of the day.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Recommendations</strong></span></div> <div> 1. We need to seriously review the efforts made till date for establishment of Commercial Bench together with mapping the expectations made during such endeavours.</div> <div> 2. We need to extend the scope as well as jurisdiction of the commercial bench ensuring that all commercial cases either directly go to the commercial bench or go to other courts or tribunals that are supervised by the commercial bench.</div> <div> 3. There should be commercial benches covering all jurisdictions of Nepal.</div> <div> 4. Some cases having commercial issues may not go to commercial bench if such cases have monetary value in the disputes less than prescribed. Principally, it should be determined that commercial bench is to serve the purpose of establishing a preferred destination for investment, and therefore, it serves the creating conducive atmosphere for investment rather than establishing judicial principles. Prolonged judicial process and lengthy interpretations of statues can be done in regular courts not by commercial benches.</div> <div> 5. Among the commercial bench all over the country, there should be one commercial bench at the center Kathmandu with fast tract procedure. Commercial cases with certain threshold of investment and some other special circumstances should only go to this Fast Track Commercial Bench. Such arrangement would boost up confidence of investors.</div> <div> 6. There should be proper reporting system of the cases decided by the commercial benches so that the legal community as well as business community can provide feedback on the decisions by carrying out discussion on them.</div> <div> 7. There should be special efforts for legal reforms in order to accomplish the task of transforming the present commercial bench so that it can carry out all above mentioned matters.</div> <div> 8. Administration of commercial cases and legal reform should be carried out considering the international commitments of Nepal under WTO, UNCITRAL and other similar mechanisms.</div> <div> </div> <div> 9. Success stories of some countries like Singapore should be considered and we need to make analysis why Singapore scores over India on settlement of corporate conflict.</div> <div> </div> <div> <em><span style="background-color: rgb(240, 255, 240);">(Based on a paper prepared under an assignment of Commercial Law Committee of Supreme Court Bar Association. The writer is associated with Transactional Law House, an international law firm based in Kathmandu. He can be reached at rudralawyer@gmail.com. Cell- 9851057087.)</span></em></div> <div> </div> <div> <hr /> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>“Lacunae in the legal system need to be minimised to attract foreign investors”</strong></span></div> <p> </p> <div> <strong style="font-size: 14px;"><img alt="Shreekant Poudel, the spokesperson of the Supreme Court" src="/userfiles/images/ep1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />Shreekant Poudel</strong><span style="font-size: 14px;">, the spokesperson of the Supreme Court, in an interview with Britant Khanal of New Business Age he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Exceprts:</strong></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Could you highlight the reason behind establishing the commercial bench?</strong></span></div> <div> The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the Second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don’t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></span></div> <div> In the process of establishing this bench we had to train judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as it required. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? </strong></span></div> <div> We are still in the initial phase of establishing the bench. As I know, the initial requirement was to set up a separate commercial court, which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, patents are heard by the department of industry, and many other cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div> <div> </div> <div> Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues including intellectual property and cases of revenue tribunal. We are striving to bring all of these cases under the commercial bench.</div> <div> </div> <div> <img alt="Fiscal Year 2069/70 Cases Regarding Commercial Bench." src="/userfiles/images/ep2.jpg" style="width: 500px; height: 187px; margin-left: 20px; margin-right: 20px;" /></div> <div> <span style="font-size: 14px;"><strong> </strong></span></div> <div> <span style="font-size: 14px;"><strong>Has the bench been established in all appellate courts in the country?</strong></span></div> <div> No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places including one in Hetauda which was established in 2011 and rest four at Biratnagar, Butwal, Nepalgunj and Patan.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Because this is a new and western practice, will we require a foreign consultation for the bench?</strong></span></div> <div> For now our resources have being doing a very good job but like you suggested, if there is a situation that demands foreign consultation, we can higher or send our resources for foreign education and exchange programmes but again, that will require the demand of the context.</div> <div> </div> </div> <hr /> <div style="text-align: center;"> <strong><span style="font-size: 16px;">“Judges need training”</span></strong></div> <p> </p> <div> <span style="font-size: 14px;"><img alt="Gandhi Pandit" src="/userfiles/images/ep3.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />A well known advocate <strong>Gandhi Pandit</strong>, in an interview with Britant Khanal of New Business Age highlighted a pragmatic approach to commercial bench. <strong>Exceprts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is your opinion on the newly established commercial benches?</strong></span></div> <div> The judges must be competent to deal with all kinds of cases, but honestly, that is not possible all the time because of growing trade issues in the domestic and global markets. Some of the cases are so sophisticated that they require experts, which is not available in the country. Smooth functioning of the economy will require a better legal system, which will support rapid growth and development. Therefore, current situation demands a specialised commercial bench. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where can we trace the footprints of this system?</strong></span></div> <div> This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals, the specialised skills of various sectors are brought together for the better understanding of the case. And this system was later followed by Britain and the US. This pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. We don’t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on. Even if they want to learn it, they have not been able to acquire such knowledge due to lack of infrastructure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What could be the possible solution to such lacunae?</strong></span></div> <div> Only establishing the bench will not do the justice. Establishing the bench is one thing and effectiveness is another. The benefit expected has not yet been reaped due to inexperienced people in the field and it is not unwillingness on their part - they don’t have that access to knowledge. As judges are frequently transferred to places without access to such knowledge, they will require a proper training, and attending the training only once will not make an impact as there has to be periodic training which we are lacking. The national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. Our legal system has a very lengthy procedure before the cases reach the final hearing. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address.', 'sortorder' => '1821', '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' => '1962', 'article_category_id' => '134', 'title' => '“Should Not Expect Much From NRNs Who Are Struggling Themselves Abroad”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Jiba Lamichhane</strong> has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month. In this context,<strong> Janardan Baral</strong> of The Corporate spoke to him regarding the evaluation of his tenure and future plans of NRNA in Nepal. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you assess your two years’ tenure?</strong></span></div> <div> I think it would be good to evaluate my contribution from others. As a whole, I can say we have started some good initiatives. I am committed to fulfill my promises which I had made to my friends while declaring my candidacy for NRNA. I have succeeded to implement some of my plans. Expected results have been achieved in some plans, especially in creating a mutual fund and starting social projects in Nepal. We have been in discussion with political parties to sort out the dilemma of dual citizenship and discussions are moving in a positive direction. I am sure that our concern of dual citizenship would have been addressed if a new constitution was promulgated through the Constituent Assembly Election of 2008. We could not complete some tasks though we were very eager to. Registration of NRNA is one among them. Unfortunately, we could not register the NRNA in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Though mutual investment was in your priority, it could not yield any tangible result. Why?</strong></span></div> <div> We have already started work towards this end. We have registered a company with Rs 5 billion authorized capital in the last year. Non-Resident Nepalis (NRNs) have invested Rs 1 billion in the company after we invited them to invest. We will add capita as per need in the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNs from developed countries are often blamed that they want credit by using remittance earned by those who work in Gulf countries. What is your say?</strong></span></div> <div> I do not agree with this point. I am not convinced that the mutual investment plan of NRNA has failed. NRNs from all walks of life have invested in the company. There is investment from gulf countries as well as from other countries. I am so upbeat that many friends are enthusiastic to invest in the company. It will continue if we can start some positive initiatives. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have always underlined the importance of NRN investment for the development of the country. But there is no visible progress so far.</strong></span></div> <div> I have put the mutual investment plan in special priority which has been the main agenda since the establishment of the NRNA. I have been saying that NRNs are yet to reach the position in which they can contribute miraculously to the development of the country. The new generation has been struggling to establish themselves abroad. We should not expect much from NRNs who are struggling to establish themselves abroad. Investment has been made from NRNs who have the capacity to invest individually. For instance, Shesh Ghale has already started investment in a five star hotel in Kathmandu. Investment is a process which continues forever. I request all to see the initiatives from NRNs in a positive light. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have also announced to start a 100MW hydropower project. What progress has been made so far?</strong></span></div> <div> We have started to invest in the hydropower sector through NRN Investment Limited which was established using capital from NRNA. NRN Investment Company has taken stake of a majority of shares of the 27MW Dordi Khola hydropower project in Lamjung. We have decided to complete this project in partnership with entrepreneur Chandra Dhakal. We have been studying the possibility to start other projects. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yet, the trust and belief of Nepali people to the NRN has declined. How do you view the situation?</strong></span></div> <div> Trust and belief towards NRNs has not declined; rather it has increased. In recent days, NRNA has received recognition from the government and other agencies. There is organizational representation of NRNs in some crucial agencies including Nepal Investment Board and Economic Advisory Council of the Prime Minister. I have found that all have accepted the NRNA in a positive manner. </div> <div> </div> <div> <span style="font-size:14px;"><strong>There’s visible scuffle for leadership in NRNA. Who do you want to come as your successor?</strong></span></div> <div> It is natural that many friends have expressed their interest to assume leadership. And, many friends are able to take the responsibility. I wish for a leadership that can continue the good image of NRNA. The network of NRNA has been expanding – we have been successful in expanding our network to 65 countries. I want a new leadership with the commitment to run such a huge organization in an efficient manner. I will be neutral during the election. The candidate will be selected through a democratic process.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Does the NRNA get blamed for turning a cold shoulder to problems faced by migrant workers in Gulf countries?</strong></span></div> <div> All migrant workers are also NRNs. They have been facing so many problems but we alone cannot solve their woes. Our duty is to find the root cause and take initiative to reduce the problems. We have always prioritized migrant workers’ rights and we have been working through our welfare fund to safeguard rights of migrant workers. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNA has not been registered thus far. Can the organization go ahead without a legal status?</strong></span></div> <div> It is unfortunate that the organization has not got registered even though it has branches in 65 countries. We have applied six times for registration. The main reason for not being able to register is the contradiction in the statute of the NRNA and NRN Act 2064 B.S. Registration will be our main priority in the future and all sides are positive about this.</div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jiba Lamichhane has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month.', 'sortorder' => '1820', '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' => '1969', 'article_category_id' => '39', 'title' => 'DJPL: Prioritising Import Substitution', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution. As a part of this strategy, the company established Nirog, a primary care division of the company in the last week of June, 2013. </div> <div> </div> <div> The division produces drugs for muscular inflammation, pain and emergency management, one of the segments where medicines are heavily imported from abroad. Hari Bhakta Sharma, Executive Director of DJPL said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets. </div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: left; margin: 0px 10px;"> <tbody> <tr> <td> <img alt="Hari Bhakta Sharma, Executive Director Deurali Janta Pharmaceuticals Pvt Ltd" src="/userfiles/images/cf1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 239px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Hari Bhakta Sharma</strong></div> <div> Executive Director</div> <div> Deurali Janta Pharmaceuticals</div> <div> Pvt Ltd</div> </div> </td> </tr> </tbody> </table> <div> According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Export Dilemma </strong></span></div> <div> The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike n any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases. </div> <div> </div> <div> <strong style="font-size: 14px;"><img alt="Production Capacity" src="/userfiles/images/cf4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 593px;" /></strong><span style="font-size: 14px;"><strong>Product Diversification </strong></span></div> <div> The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The DJPL has been adding new plants and divisions every two to three years to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the domestic market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness. </div> <div> </div> <div> Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health. </div> <div> </div> <div> Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Market Presence </strong></span></div> <div> Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products. </div> <div> </div> <div> Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets. </div> <div> </div> <div> The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment. </div> <div> </div> <div> <img alt="Quality Assurance" src="/userfiles/images/cf2%20(Copy)(1).jpg" style="width: 500px; height: 306px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Quality Assurance </strong></span></div> <div> DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards. </div> <div> </div> <div> Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Human Resource Management </strong></span></div> <div> The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company is devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</div> <div> </div> <div> <img alt="DJPL NEPAL" src="/userfiles/images/cf3%20(Copy).jpg" style="width: 500px; height: 138px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Milestones </strong></span></div> <div> DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being. </div> <div> </div> <div> The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification. </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution.', 'sortorder' => '1819', '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' => '1966', 'article_category_id' => '52', 'title' => 'Doubling The Growth', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional. When government legitimacy comes under serious interrogation mark, economic growth hardly becomes a national agenda.</div> <div> </div> <div> The current state of Nepali economy fits into exact definition of stagflation -- the stagnated growth and uncontained inflation. Average year-on-year growth rate of the economy for the last whole decade beginning 2002 (when growth rate, computed as Gross Domestic Product (GDP) had dipped to negative territory) has hardly crossed 3.5 percent mark.</div> <div> </div> <div> Poor growth rate is not the only worst part of it, but even the lack of meaningful debate on the constraints and remedies is making the situation worst. But the inflation even in official figures is invariably in double digits.</div> <div> </div> <div> If not from the government, tangible initiatives to this end had to come from the private sector. But nothing of that sort happened in the recent past. To fill this gap, the New Business Age (NBA) Pvt. Ltd from this year on, in partnership with some leading business entities of the nation, has taken a maiden initiative to take the growth debate to the centre stage of national economic policy parlance.</div> <div> </div> <div> Nepal in the past did witness some debate over her growth concerns, but most of them were rather slanted or impractical. In different chapters of history, we were made to hear high-pitched rhetoric of double-digit growth, Swiss or Singaporean pace of growth, leap-frogging growth or a growth taking Nepal to a developing from an underdeveloped country status. These all were tall, very tall asks, to say the least.</div> <div> </div> <div> The double digit growth or upliftment of the country’s status to a developing one are essentially the same concepts. For this, Nepal needs at least some Rs. 400 billion of capital expenditure annually, or at least 8.5 percent growth rate, for ten consecutive years. This indeed is unimaginable for several years to come. Other claims were bare political stunts, so had no scope of realizing them at all.</div> <div> </div> <div> In view of these dogmatic misadventures of the past, the NBA wanted a meaningful debate to take off that is based on feasible goals against the existing ground realities. This led to the conclave on the theme 'Doubling of Growth of the Nepali Economy to 7 per cent GDP: The Roadmap Ahead.' Based on the 3.5 percent of growth rate of the past fiscal year, the idea of doubling was born, which looked fairly achievable if we could religiously pursue it.</div> <div> </div> <div> Needless to say, growth in national GDP is a multi-sector endeavour. Among them too, it is important to identify and focus on key sectors that can either serve as prerequisite to long-run sustainable growth like hydropower or yield immediate growth results like agricultural productivity and tourism.</div> <div> </div> <div> But, most important of all is quintessentially lead role of the private sector in investment, production and distribution of all goods and services. Of course, support of the state from the background is needed as security or ground for fair-play. Guided by this philosophy, the NBA coincided the conclave of growth debate, organized in Kathmandu on 24th August, with the opportunity to recognize the contribution of business sector to growth. This recognition came in the form of the 10 categories of business awards.</div> <div> </div> <div> For the sustained prosperity of the nation, we should be able to make the growth not a flip-flop show but a habit. We need to start modest and all big dreams will fall in line with accomplishment of the starting ones. If we achieve 7 per cent growth first, then the double-digit can be followed soon. More important here: we needed a right beginning. And, with this successful conclave, we in NBA feel, the beginning has indeed been right.</div> <div> </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-09', 'keywords' => 'new business age from the editor news & articles, from the editor news & articles from new business age nepal, from the editor headlines from nepal, current and latest from the editor news from nepal, economic news from nepal, nepali from the editor economic news and events, ongoing from the edi', 'description' => 'The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional.', 'sortorder' => '1818', '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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However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism.</div> <div> </div> <div> In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan. </div> <div> </div> <div> This time, APC was unique due to several reasons. Firstly, it was attended by all the invitees. Secondly, it was supported by the public mandate regarding the strategy to deal with the Taliban and the US drone attacks. Moreover, people had voted for the political parties which articulated an anti-drone policy. Thirdly, the APC decided to give free hand to the sitting government on three issues—economy, energy and terrorism. </div> <div> </div> <div> According to agencies, the APC has reposed full confidence in the efforts of the country Prime Minister and authorised the federal government to initiate dialogue with Taliban and take all the necessary steps as it may deem fit including development of an appropriate mechanism and identification of interlocutors.</div> <div> </div> <div> In an interesting revelation, APC was informed by security apparatus that there are groups within the Tehreek-e-Taliban Pakistan (TTP) who are in favour of talks but then there are others that enjoy the backing of certain hostile agencies who may never agree. </div> <div> </div> <div> TTP should come clean on those dubious entities which are operating under its brand name and carrying out disruptive actions. TTP should show its commitment for peace. </div> <div> </div> <div> With the Afghanistan conflict apparently moving towards a close, it is logical that Pakistan should engage in dialogue with select groups of Pakistani Taliban under a well structured framework. Pakistan is already facilitating such processes amongst America, Afghan Taliban and the Afghanistan government. </div> <div> </div> <div> Many analysts say that there is paradigm shift in the country’s security strategy. For instance, the top civil-military leadership has unanimously decided to hold peace talks with all militant groups, keeping the TTP on top priority. The move was hailed by even Taliban in Pakistan and they dubbed the move as an opportunity to hold a ‘meaningful dialogue’.</div> <div> </div> <div> It’s not the first time that Pakistan government has tried to open such talks. However, this time the approach is qualitatively different. This time Taliban are being referred to as “stakeholders.” The government plans to start the talks just as soon as intermediaries complete the necessary “groundwork”. It is encouraging that the Taliban Shura (the decision making body) has promptly convened its session to nominate its team. The TTP would announce its team once the government has finalised its interlocutors. The central leadership of the TTP has claimed that the Prime Minister Nawaz Sharif had sent a letter to the TTP about a possible peace dialogue and the TTP has replied to it.</div> <div> </div> <div> Pakistan’s national leadership also boldly addressed the sticky issue of American drone strikes. It described them as detrimental to the country’s efforts to eliminate terrorism and recommended that the government should consider taking up the issue to the United Nations. APC communiqué also termed the drone attacks an ‘illegal and immoral’ act. “We declare that we shall ourselves determine the means and mode of fighting this war in our national interest and shall not be guided by the United States of America or any other country in this regard.” Pakistani security officials also informed that there was no secret understanding with the US on the CIA-led drone campaign. Hopefully, an unambiguous official stance on drone attacks would help create a conducive environment for the envisaged negotiations. </div> <div> </div> <div> The APC called for a result-oriented and peaceful dialogue process to eliminate extremism from the country. Political leaders admitted that the situation has continued to deteriorate over the last several years and past efforts to control terrorist and extremist elements have not yielded the desired results.</div> <div> </div> <div> </div> <div> </div> <div> It is for this reason that peace talks with Taliban should be given a fair chance to succeed. There are forces which say that Taliban don’t want to be treated like that. However, these elements while speaking in such a tone do not give priority to the interest of Pakistan. </div> <div> </div> <div> These are mainly western voices which want Pakistan to go all out against Haqqqani net work. They must realize the fact that Haqqani network is Afghan entity. While responding to Hillary Clinton’s statement with skepticism, a senior Haqqani commander told Reuters on October 25, 2011 that the “Afghan Haqqani group will not take part in any peace talks with the United States which will not be able to find a possible solution to the Afghan conflict unless they hold talks with the Taliban—led by the Taliban leadership seriously. He revealed, “Americans had made several attempts for talks which we rejected as we are an integral part of the Taliban led by Mullah Omar…we are united to liberate our homeland-Afghanistan.”It is of particular attention that on September 17, 2012, in a rare interview by telephone from an undisclosed location, leader of the Haqqani militant network, Sirajud Din Haqqani disclosed that the group has become so confident after battlefield gains in Afghanistan that “it no longer has sanctuaries in Pakistan, and instead, felt secure inside Afghanistan.”</div> <div> </div> <div> What the world must realise is that Pakistan is a sovereign democratic country and the voice of democratically elected government and other political parties that suggest that talks with Taliban should be given a fair chance.</div> <div> </div> <div> World must also realize that collateral damages in form of drone strikes in Pakistan have resulted in germinating greater ill will against US/ISAF and ultimate sufferers are the people of Pakistan.</div> <div> </div> <div> The crux of the matter is that today Pakistan is the epi-centre of war against terrorism. Sacrifices rendered by Pakistani people in eliminating the menace of terrorism from the world are unparalleled. If we take a pragmatic view of developments in the region following USSR’s interruption in Afghanistan, Pakistan has played a key and very positive role. Today the whole Eastern Europe is enjoying freedom which is result of Pakistan standing tall in thwarting USSR.</div> <div> </div> <div> Situation in Afghanistan deteriorated as US and West changed their priorities and started focusing towards East Europe. 9/11 gave another dimension to the region and the world. Afghanistan has seen use of force and its after effects have been suffered by Pakistan. For the last 13 years this region is suffering with minimum achievements for a durable peace.</div> <div> </div> <div> The proponents of use of force do not want to see this region peaceful. To ensure their safety they are trying to create destruction in other parts of the world. It needs to be reiterated that today’s Pakistan has the capability and the political will to firm up a response against terrorists. No one but only the people of Pakistan can suggest a panacea for the problems that it is facing. The world must acknowledge and respect the decision which the political leadership of Pakistan has taken in holding talks with militants and terrorists.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Stability and prosperity in Pakistan will definitely have impact in the entire South Asia. However, peace in Pakistan has been elusive since last couple of decades though the current government of Pakistan is working out a national consensus based strategy for dealing with the problem of terrorism. In quest of peace in Pakistan, recently held All Parties Conference (APC) can be taken as a defining moment that raised hopes that there are chances of prevailing peace in Pakistan.', 'sortorder' => '1832', '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' => '1980', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief ( 21 - 27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Microbus Plunges into Trishuli, Two killed</strong></span></div> <div> Two passengers died when a microbus fell into the Trishuli River at Darechowk-9 on the Prithvi Highway last Monday. According to Area Police Office Muglin, the micro-bus (Ba.2Kha. 2598) was heading towards Kathmandu from Narayagadh when it plunged into the river below the road. The Police informed that it has intensified the search of other nine passengers missing in the river.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prez Underlines Peoples’ Contribution </strong></span></div> <div> President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>“We will garner two-third majority”</strong></span></div> <div> UCPN-Maoist leader Krishna Bahadur Mahara has claimed no forces can stop UCPN (Maoist) from garnering two thirds majority in the election. He argued that the people will vote for his party as it was the only one capable to develop the country while speaking at a programme in Rolpa last Thursday. Mahara said frequent change of government hinder the development of the nation and called for a stable government.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Anti-poll Activities will be Foiled”</strong></span></div> <div> Minister for Home Affairs Madhav Prasad Ghimire has said the government has made tight security arrangements to hold the upcoming Constituent Assembly (CA) elections in a free, fair and impartial atmosphere. Opening a regional seminar on security in Biratnagar last Thursday, Home Minister Ghimire said the government would not let those attempting to foil the election and create obstructions in the election process walk free. </div> <div> </div> <div> <span style="font-size:14px;"><strong>CA Failed Due to Federalism, Claims KC</strong></span></div> <div> Rastriya Janamorcha Chairman Chitra Bahadur KC has claimed that erstwhile Constituent Assembly failed to promulgate new constitution due to federalism. He added that the scrapping the issue of federal provision from the constitution was a need of the hour. Speaking at a press meet organised in Sandhikharka last Friday, leader KC said the idea of federalism was not the necessity of country. He claimed that the federalism was forcefully introduced following dictates of foreig power centers.</div> <div> </div> <div> <span style="font-size:14px;"><strong>“Maoist Behind CA Failure”</strong></span></div> <div> CPN-UML Senior Leader Madhav Kumar Nepal has said that it was a result of the ego of the Maoists that the first Constituent Assembly failed to draft a new constitution. Speaking at a programme in Kathmandu last Thursday, the Former PM Nepal stressed the need of a win for the democratic forces in the November 19 CA elections to draft the new constitution.</div> <div> </div> <div> Koirala Hopeful of CA-2</div> <div> Nepali Congress (NC) president Sushil Koirala has expressed the confidence that the second Constituent Assembly (CA) would deliver a republic constitution in the country. Speaking at a programme in Nepalgunj last Wednesday, Koirala claimed that no force can beat the NC loser in the coming election citing growing public support to his party of late.</div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'President Dr Ram Baran Yadav has said contribution of all the Nepali people is imperative for drafting a republican constitution. Talking with media-persons last Mnoday, President Dr Yadav said all Nepalese should cooperate so that they would be successful in fulfilling people’s wishes to draft a new constitution at the earliest.He wished for peace and stability in the country on the auspicious occassion of Dashain.', 'sortorder' => '1831', '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' => '1967', 'article_category_id' => '46', 'title' => 'Etihad Airways’ Global Network Contributes To The Success Of Kathmandu Route', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size: 14px;">In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers. In addition to connectivity in between Abu Dhabi and Nepal, Etihad Airways offers its service to more than 87 destinations across the globe. New Business Age asked <strong>Pawana Shrestha</strong>, Etihad Airways’ Country Manager in Nepal about airline’s plan.<strong> Excerpts:</strong></span></div> <div> </div> <div> <strong>Etihad Airways recently celebrated its fifth year of operation in Nepal? How has the journey been?</strong></div> <div> Our services to Kathmandu have been a great success. Since the launch of the route in 2007 we have carried more than 570,000 passengers. In addition to carrying passengers between Abu Dhabi and Nepal, Etihad Airways offers seamless connections to more than 94 destinations around the world. Etihad Airways’ global network has been a major contributor to the success of the Kathmandu route.</div> <div> </div> <div> <strong>What are the future plans of Etihad Airways in Nepal?</strong></div> <div> We will continue to work closely with our travel partners to promote tourism to this beautiful country and carry more passengers to cities across our global network.</div> <div> </div> <div> Our close partnerships with the trade and travel industry in Nepal, has been instrumental in our success in Nepal, with the consistently high load factor across all cabins. We are very pleased to be making meaningful contribution to the Nepali economy.</div> <div> </div> <div> <strong>The United Arab Emirates (UAE) is a lucrative destination for many Nepali migrant workers. What is the percentage of migrant workers that Etihad cater to ?</strong></div> <div> We cater to a fairly large number of Nepali workers. However; we carry even more leisure passengers. In 2012 Nepalese workers made up around 30 per cent of our customer base, leisure passengers made up 50 per cent. The remaining were business and corporate travelers.</div> <div> </div> <div> <strong>Numerous other airlines are operating in Nepal. How tough is the market competition for Etihad?</strong></div> <div> Nepal is a very competitive market and there are around 28 airlines currently operating services to Kathmandu. The Abu Dhabi- Kathmandu route, however, has been very successful. This success is due to our commitment to providing our guests with a remarkable travel experience across their entire journey and our focus on delivering award winning product and services.</div> <div> </div> <div> <strong>What is your Marketing Strategy in Nepal?</strong></div> <div> Our Marketing strategy focuses on raising the profile of Etihad Airways in the Nepali market and increasing awareness of Abu Dhabi as a leisure destination. The core of our strategy, however, is providing an unbeatable product. </div> <div> </div> <div> Our marketing strategy involves working closely with our partners, travel agents, industry magazines and trade associations as well as by deploying various promotions, competitions and discount programmes throughout the year. These include tactical campaigns like regular breaking deals, online deals and highly discounted last-minute offers to encourage repeat visitors.</div> <div> </div> <div> <strong>What are your CSR programmes in Nepal?</strong></div> <div> Etihad Airways is committed to active participation in causes that support people and strengthen communities across its global network. </div> <div> </div> <div> In Nepal, our corporate social responsibility policy centers on projects that assist communities in need and, in the longer term, drive development and empowerment. Therefore, we support orphanages and education projects and homes for the elderly and through medical partners, support critical surgery and health services training.</div> <div> </div> <div> Recently we donated a large amount of waste paper to support a recycling initiative led by Shanti Sewa Griha, a non-governmental organisation providing shelter for the less privileged and fighting discrimination against leprosy patients in Nepal.</div> <div> </div> <div> In 2012 we donated care parcels, made up of packed lunches and blankets, to two social welfare organizations in Kathmandu to keep the less privileged safe from the piercing cold of Nepal.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-28', 'keywords' => 'new business age interview news & articles, interview news & articles from new business age nepal, interview headlines from nepal, current and latest interview news from nepal, economic news from nepal, nepali interview economic news and events, ongoing interview news of nepal', 'description' => 'In less than six years of its operation in Nepal, Etihad Airways has already established its brand image among Nepali consumers. Since the commencement of flights in 2007, the United Arab Emirates-based airline has carried more than 500,000 passengers.', 'sortorder' => '1830', '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' => '1976', 'article_category_id' => '138', 'title' => 'Power Swaps Can Help APAC Manage Future Energy Needs: ADB', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources," states the report entitled Energy Outlook for Asia and the Pacific. The report also forecast oil demand to grow by 2% a year, led by the transport sector, with newly affluent South Asians buying an increasing number of motor vehicles. "Natural gas demand will expand at the fastest annual pace of 4% because of the lower environmental burden and ease of use," says the ADB reoprt. The report provides in-depth data and projections on energy use at the sub-region, country, and sector levels until 2035, along with an analysis of the impacts of a “business as usual” approach to power, and an alternative approach in which countries scale up efficiencies and low carbon technologies.</div> <div> </div> <div> “Our projections show the region will consume more than half the world’s energy supply by 2035, with electricity consumption more than doubling as economic growth and rising affluence drive demand,” said S. Chander, Special Senior Advisor, Infrastructure and Public-Private Partnerships at ADB. “Countries cannot meet these huge power requirements all on their own, so the region must accelerate cross-border interconnection of electricity and gas grids to improve efficiencies, cut costs, and take advantage of surplus energy.” The reliance on fossil fuels presents major pricing, energy security, and environmental challenges, with Asia and the Pacific’s carbon dioxide emissions set to double by 2035, making up more than half the world’s total output. Without reducing its heavy reliance on oil imports, using power more efficiently, and adopting more green energy options, the region will see a growing energy divide between the rich and poor, and increasing threats from climate change.</div> <div> </div> <div> "Using a mix of efficiency measures, advanced generation technologies, and greater use of renewable power could almost halve the projected annual rise in energy demand through to 2035. More efficient oil refining and gas processing, along with a reduction in demand for electricity, offer the bulk of the energy savings potential," says the report. </div> <div> </div> <div> The report also highlights opportunities for building on existing cross-border power exchange initiatives in Southeast Asia, South Asia, and Central Asia, with the ultimate goal of establishing a pan-Asia energy market by 2030. Closer cooperation will have other positive spinoffs including new economic opportunities and warmer relations.The report was prepared by a team from the Asia Pacific Energy Research Center of the Institute of Energy Economics, Japan, under an ADB regional technical assistance project.</div> <div> </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-28', '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' => 'Cross-border power exchanges can play a central role in helping Asia and the Pacific meet its booming demand for power, which is set to sharply outpace the rest of the world’s over the next two decades, says a comprehensive new report from the Asian Development Bank (ADB). "Fossil fuels will continue to dominate the energy mix in the coming decades, with the demand for coal set to rise by more than 50% over the outlook period, or nearly 2% a year, led by consumption in the People’s Republic of China and a pickup in use in Southeast Asia as countries look for low cost options to diversify existing supply sources,"', 'sortorder' => '1829', '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' => '1978', 'article_category_id' => '139', 'title' => 'Nepal And The World News In Brief (21 -27 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Canada and EU Agree Free-Trade Deal</strong></span></div> <div> Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr. Martens Up for Sale</strong></span></div> <div> Britain’s iconic Dr. Martens boots look set to find a new home, ending more than 50 years of family ownership. Sources familiar with the situation say the Griggs family is in talks to sell its 91.5% stake in the company to private equity firm Permira for £300 million ($486 million). Dr. Martens leather, lace up boots have been a signal of youth rebellion since they were first produced in 1960. Waves of subcultures -- from skinheads to punks and gothic followers -- have embraced the footwear.</div> <div> </div> <div> <span style="font-size:14px;"><strong>China’s Economic Growth Speeds Up </strong></span></div> <div> China’s economy powered ahead in the third quarter, taking some pressure off the country’s leaders as they seek to execute painful structural reforms. Gross domestic product grew 7.8% over the previous year during the third quarter, the National Bureau of Statistics reported Friday. </div> <div> </div> <div> <span style="font-size:14px;"><strong>‘Shutdown encouraged foes, depressed friends’</strong></span></div> <div> US President Barack Obama has warned that America’s recent bout of political dysfunction had encouraged its enemies and dismayed its friends, and said the crisis left “no winners” in Washington. “Let’s be clear. There are no winners here,” Obama said. He spoke less than 11 hours after signing legislation that ended a 16-day government shutdown and a showdown over raising his government’s borrowing authority. </div> <div> </div> <div> <span style="font-size:14px;"><strong>WB Lowers India’s GDP Growth </strong></span></div> <div> The World Bank has revised downwards India’s economic growth forecast for the current fiscal to 4.7 per cent. This is against the 6.1 per cent growth projected in April. India’s GDP growth is, however, expected to accelerate to 6.2 per cent in 2014-15, the World Bank said in the latest India Development Update released on Wednesday. </div>', 'published' => true, 'created' => '2013-10-21', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Canada and the European Union have struck a free trade agreement aimed at boosting growth and employment. The deal will lower tariffs, streamline regulation, and cut red tape. Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso agreed the deal at a meeting in Brussels on Friday. The deal still requires approval by parliaments and EU member states.', 'sortorder' => '1828', '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' => '1961', 'article_category_id' => '122', 'title' => 'Keyal Group’s Key Areas', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Gaurav Aryal and Om Prakash Khanal</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="Satya Narayan Keyal, Chairman, Keyal Group" src="/userfiles/images/spt2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 219px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Satya Narayan Keyal</strong></div> <div> <em>Chairman, Keyal Group</em></div> </div> </td> </tr> </tbody> </table> <div> The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.</div> <div> </div> <div> The first manufacturing unit was established in the mid-90s – a milestone for the family’s journey towards manufacturing. Narayani Rolling Mills Pvt Ltd, the first manufacturing venture of the group, has been producing steel products to meet local needs.</div> <div> </div> <div> According to Satya Narayan Keyal, Chairman of the group, the initial days of entering the manufacturing sector were not easy. In the absence of a robust banking sector, managing large scale funds for investment was not quite the same as it is today. “It was pretty tough to borrow loans as the banking sector was less developed,” recalls Keyal who believes that growing competition in the banking and financial industry in the 2000s has benefitted industrialists at large. However, the challenging environment provided various learning experiences to the group that helped design its next move for the future.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Growing Market</strong></span></div> <div> While the group was gradually growing, the Nepali market was expanding as well. Keyal says that the market for manufactured goods has increased in recent times due to the growing purchasing power of the general public. He adds that technological advancement has helped the group’s factories produce better quality products that support companies in the increasingly competitive market. The competition is not always healthy and for Keyal Group, it is not an exception. Unhealthy competition has brought about difficult situations time and again, but the group holds on to its promise to deliver quality products, regardless.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Focus Areas of the Group </strong></span></div> <div> The Keyal Group has focused on the manufacturing sector with half a dozen industrial units specialised on production of steel rods, angles and flat squares, pipes, MS plates, shutter strips and cement. Steel products produced by Narayani Rolling Mills Pvt Ltd have been certified with Nepal Quality Certification Mark (NS). Likewise, Makalu Axum, a subsidiary company of the group is the authorised distributor for liquor of the Magic Moments brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong><img alt="" src="/userfiles/images/spt1%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 300px; height: 440px;" />Capturing the Market</strong></span></div> <div> The target market for the group’s major products such as steel, cement, rods and pipes, among others, is the central and eastern regions of Nepal. The group does not wish to remain confined to these areas and is planning to explore more market potential within and outside the country. “We have a big market presence in the central and eastern regions and have plans to export our products to India in the near future,” says Keyal. As a part of this plan, the group plans to export pipes manufactured by Shree Krishna Steel to India.</div> <div> </div> <div> The group has adopted a policy to not compromise with the quality it is offering. With state-of-the- art technology and service to produce quality products, Keyals says: “We have understood the needs and demands of our clients and have targeted products accordingly. But our products are by no means expensive.”</div> <div> </div> <div> <span style="font-size:14px;"><strong>Structuring Management</strong></span></div> <div> According to Keyal, each human resource staff and management unit are attuned to realise the company’s policy of zero compromise in quality, offer products at a relatively lower price, and remain accountable and responsible to the market, customers and promoters. </div> <div> </div> <div> Similarly, the group has always treated its employees as member of its extended family. When it comes to human resource management, the group has attempted to understand the necessities and aspirations of its employees and motivate them accordingly. For motivation, the group has been using rewards and encouragement while adhering to organisational discipline, culture and responsibilities.</div> <div> </div> <div> The group has 350 employees working in its manufacturing unit and sister companies while another 350 are working along the market value chain. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Addressing Challenges</strong></span></div> <div> A key challenge the group is facing at the moment is duplication of products that has tarnished the image of the common market. Availability of counterfeit products has prohibited market growth and expansion. Additionally, in the absence of major construction and infrastructure projects in the country, the market of construction materials, where the group has expertise, is limited to the consumer market instead of reaching large scale institutional clients. According to Keyal, the slowdown of the housing and real estate industry has affected construction material producing subsidiaries. However, the group has not lost hope. It has held on to the belief that a market can be created and clients can be attracted by offering quality products at reasonable price. With this philosophy, the group has been working to expand its market and attract customers towards its projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>The Constant Hope</strong></span></div> <div> Some business and industrial houses have constricted their operation and even closed down their companies citing political instability and a murky business environment. But the Keyal Group chooses to see the light at the end of tunnel. Keyal hopes for political stability to speed up the economic growth of the country which would boost construction and development projects. “It would also create higher demand for our products. We are hopeful and are waiting for that moment to arrive soon,” he says.</div> <div> </div> <div> <span style="font-size:14px;"><strong>CSR</strong></span></div> <div> The group has been consistently involved in corporate social responsibilities and has believed in giving back to society throughout the years. Similarly, the group has contributed to the construction of temples and funded religious activities in Birgunj and surrounding areas. Alongside this, the group has contributed to post-conflict reconstruction of infrastructure that has benefitted a larger number of people.</div> <div> </div> <table border="0" cellpadding="10" width="99%"> <tbody> <tr> <td bgcolor="#E5E4E2"> <div> <strong style="font-size: 16px;">Some Companies under the Keyal Group</strong></div> <div> <div> </div> <div> <span style="font-size:14px;"><strong>Narayani Rolling Mills</strong></span></div> <div> This steel manufacturing unit located in Chhatapipara of Bara district produces TMT steel rods ranging from 8mm to 25 mm and plain rods of 8 to 36 mm. TMT steel products have been certified Nepal Quality Certification Mark (NS). The unit also produces flat square rods, angles and tor-karis among others. The group claims that this is probably the first company in Nepal to produce a large variety of products required for construction projects.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Shree Krishna Steel Pvt Ltd</strong></span></div> <div> This steel factory at Jitpur, Bara district produces MS Black Pipe (0.5 to 6 inches), MS plates, shutter strips, and shatter guides, among others. It also produces hot rolled sheets, MS pipes, shutter section and related products.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Star Cement Udhyog Pvt Ltd</strong></span></div> <div> This cement producing unit located at Jitpur, Bara district produces cement and markets PSC products under the ‘Arati’ brand, and OPC products under the ‘Shikhar’ brand. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Makalu Axum</strong></span></div> <div> This is the importer and authorised distributor of Magic Moments liquor for Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Enterprises</strong></span></div> <div> This subsidiary of the group imports various consumer products from India and other countries to distribute across the country. The company is also based in Birgunj.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Bikki Hardware</strong></span></div> <div> The hardware product distributor has its network spread over major cities like Kathmandu, Banepa, Butwal and Itahari.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Landmark Years:</strong></span></div> <div> 2052: <span class="Apple-tab-span" style="white-space:pre"> </span>Establishment of Narayani Rolling Mills Pvt Ltd, the first manufacturing unit of Keyal Group.</div> <div> 2056: <span class="Apple-tab-span" style="white-space:pre"> </span>Shree Krishna Steel Pvt Ltd, second manufacturing unit of the group, was established.</div> <div> 2060: <span class="Apple-tab-span" style="white-space:pre"> </span>Star Cement Udhyog Pvt Ltd was established. It produces PSC and OPC grades of cement. </div> </div> </td> </tr> </tbody> </table> <p> </p>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'The Keyal Group has evolved over the years from its humble beginning as a family-owned business. For generations, the founders of the group were involved in the family business of trading. The Keyal family was performing well on trading of garments, hardware and timber products before making a transition into manufacturing construction materials.', 'sortorder' => '1827', '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' => '1960', 'article_category_id' => '91', 'title' => 'Informal Trade Still A High In South Asian Region By The Corporate', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. </div> <div> </div> <div> South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week. </div> <div> </div> <div> The audit report will aim at providing factual information on the reliability and efficiency of transportation infrastructure, logistic operations, customs and border management regulations and procedures, said research director at SAWTEE, Pushpa Sharma. </div> <div> </div> <div> The audit report is expected to reveal the status of customs facilitation for bilateral trade among South Asian countries, according to Sharma. “After the study of trade facilitation at a bilateral level, the study will focus on identifying regional problems regarding trade facilitation,” he said.</div> <div> </div> <div> Informal trade is still a big challenge in the region but we do not have any authentic data, he said. The audit will not directly calculate the volume of informal trade but will study the causes of informal trade and recommend appropriate measures to reduce the volume of informal trade.</div> <div> </div> <div> Costs related to trade facilitation, infrastructure and transit have risen over the years, which has promoted informal trade in South Asia, according to experts. </div> <div> </div> <div> Effective trade integration is necessary to reduce the cost burden, said former member of National Planning Commission, Dr Posh Raj Pandey. “Trade facilitation is a must to improve overall cost related trade barriers but we should have a benchmark to improve the condition of trade facilitation,” he said, adding that the audit will provide the benchmark with all trade barriers in the formal channel.</div> <div> </div> <div> Despite the fall in traditional trade barriers, the given circumstances in the region have forced exporters, businesses and consumers to bear additional cost burden, according to him. </div> <div> </div> <div> Economist Dr Ratnakar Adhikari said that generally, costs are incurred due to lack of regional trade connectivity and impenetrable borders. Regional commitment is required to address the identified bottlenecks, he further said. </div> <div> </div> <div> Iqbal Tabish, Secretary General of the SAARC Chamber of Commerce and Industry, mentioned that benefits of trade liberalization will not be realized unless trade facilities are rationalized.</div> <div> </div> <div> Finance minister Shanker Prasad Koirala stated that the cost of trading within the region among South Asian countries is twice, and in some cases, even three times, than trading with countries outside the region.</div> <div> </div> <div> Despite the existence of several regional efforts, such as Agreement on South Asian Free Trade Area (SAFTA), intra-regional trade in South Asia has remained extremely modest due to a number of factors, one of which is trade and transport facilitation-related bottlenecks.</div> <div> </div> <div> In a separate programme organised by International Finance Corporation (IFC), chief secretary Lila Mani Paudyal said that the government is committed to improving its trade competitiveness. “Reducing the time and costs to international trade, in particular, is critical for the Nepali private sector to compete internationally and access global markets,” he said. </div> <div> </div> <div> </div> <div> The Department of Customs is implementing its four year Customs Reform and Modernization Strategy and Action Plan since July 2013 which comprises of four building blocks: Trade Facilitation, High Revenue Yield, Organizational Development, and e-Customs, according to Surya Prasad Acharya, Director General of the Department of Customs. </div> <div> </div> <div> IFC is committed to enhance trade facilitation including focusing on simplifying border processes & procedures, and improving risk management systems, said IFC Resident Representative in Nepal Valentino S Bagatsing. “The reforms in the trade environment will provide a much needed boost as Nepali businesses position their products in accessing global markets,” he said.</div> <div> </div> <div> IFC’s South Asia Regional Trade Integration programme aims to assist the government in focusing its reform efforts to create an enabling environment for improving trade facilitation and logistics. IFC works with both private sector and government agencies in identifying areas where reform efforts can help maximize improvements for the private sector to improve cross-border trade and investments.</div> <div> </div> <div> <div> <span style="font-size:14px;"><strong>Main Explanatory Factors for Informal Trade </strong></span></div> <div> •Businesses have incentive to escape trade related regulations and duties </div> <div> •Complex, non-transparent or divergent regulatory requirements (e.g., customs formalities, technical regulations and sanitary standards) </div> <div> •Long and costly customs delays when trading formally</div> <div> •Obstructed entry or exit of certain commodities, caused by import quotas or export bans </div> <div> •Foreign exchange controls</div> <div> •Weak law enforcement at the borders</div> </div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'An audit on South Asia regional customs facilitation is being started with a target to complete in one year where customs formalities and border hassles in the region will be assessed. South Asia Watch on Trade, Economics and Environment (SAWTEE) launched the project “Trade and Transport Facilitation Audit in South Asia” to conduct the audit last week.', 'sortorder' => '1826', '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' => '1959', 'article_category_id' => '201', 'title' => 'Fashion Means Business In The Corporate World', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality.</div> <div> </div> <div> Corporations usually insist on having dress codes because they know that the way you look is speaking about yourself without words. If you look a certain way it’s like introducing yourself. Corporations are usually not associated with fashion, but they are so much, and this is why we want to introduce to you this term.</div> <div> </div> <div> Fashion means business. Fashion is an essential tool when you address to someone. Style is an international code and carrying a message with the perfect style is indispensable. You know that our philosophy is that fashion and attitude and may we add intelligence, go hand in hand.</div> <div> </div> <div> Talent, enthusiasm and learned lessons need to be crowned with the perfect look. Fashion is the physical expression what lies on the inside. Art director Fabien Baron says: “I like beauty, but it needs to vibrate.” And that is a true thing.</div> <div> </div> <div> Dressing up for business is basically the definition of professional dressing.</div> <div> </div> <div> Just like in business, in fashion you need to find your formula and take it to the highest level you can.</div> <div> </div> <div> Fashion, just like the business world, is dynamic and always changing. Keeping up with the trends is a must, but the basic rules are always the same.</div> <div> </div> <div> Even if there are hundreds of rules, you can still achieve greatness. The more constrains you have, the more creative options you have. (With inputs from agencies)</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A few years ago, Swiss bank Union Bank of Switzerland (UBS) was a lot in the media, as it sent a 43-page long dress code. To most people this might sound restrictive at first, but if you think about it, it’s actually not. A 43-page dress code is the starting point to looking professional, and believe it or not, there is a lot of room for diversity and personality', 'sortorder' => '1825', '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' => '1958', 'article_category_id' => '137', 'title' => 'Economists Fear Debt Ceiling Fight May Bring Recession', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.</div> <div> </div> <div> A couple more say a recession is possible depending on how far past the deadline Congress goes before acting. And even those who aren’t predicting recession say not raising the debt ceiling would be a very bad idea.</div> <div> </div> <div> “Financial markets are already being impacted in the short-run as a result of heightened uncertainty,” said Sean Snaith, director of the Institute for Economic Competitiveness at the University of Central Florida. But he said there would be greater long-term damage due to the spending cuts that would occur.</div> <div> </div> <div> “The fiscal shock treatment of having to eliminate the deficit in one fell swoop would reduce GDP by more than 5% and cause a severe recession,” he said.</div> <div> </div> <div> The Treasury Department has also been sounding the warning bells about the debt ceiling. In a report Thursday, Treasury said failure to raise the limit would have a “catastrophic effect” on the economy, sparking an even deeper recession than the 2008 downturn that accompanied the meltdown in financial markets.</div> <div> </div> <div> The economists agree the threat posed by not raising the debt ceiling is significantly greater than that posed by the federal government shutdown that started Tuesday. None predicted a recession being caused by the shutdown alone.</div> <div> </div> <div> “A short to medium duration partial shutdown is not enough to cause recession,” said Sam Bullard, economist with Wells Fargo Securities.</div> <div> </div> <div> But if the debt ceiling isn’t raised, the economists have many different worries, including disruptions in financial markets, followed closely by a loss of confidence in the dollar and Treasuries and very deep cuts in government spending.</div> <div> </div> <div> “No one can know for sure exactly what would happen in the event of a default, but we can all be sure that it would be bad,” said Russell Price of Ameriprise Financial.</div> <div> </div> <div> Even those economists who aren’t predicting a recession are worried about the risks posed by the debt ceiling.</div> <div> </div> <div> “Merely missing the debt ceiling deadline will not trigger a recession, but the risks will rise rapidly with each week after the deadline passes,” said Patrick O’Keefe, director of economic research at accounting firm Cohn Reznick.</div> <div> </div> <div> Some of the economists believe if Congress doesn’t raise the debt ceiling then the administration will act unilaterally. That might cause a constitutional crisis but they believe it would avoid a financial crisis.</div> <div> </div> <div> “My expectation in this scenario is that the President finds a sufficiently plausible constitutional rationale to ignore the debt ceiling and keep on meeting all US Federal obligations on time with no exceptions,” said Bill Cheney, chief economist with Manulife Asset Management.</div> <div> </div> <div> <hr /> <p> <strong style="font-size: 14px;">US Debt Crisis Threatens World Economy: IMF</strong></p> </div> <div> Terming the current debt crisis in America as “mission-critical”, the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. “The ongoing political uncertainty over the budget and the debt ceiling does not help. The Government shutdown is bad enough, but failure to raise the debt ceiling would be far worse, and could very seriously damage not only the US economy, but the entire global economy,” the IMF Managing Director, Christine Lagarde, said on Thursday. “So it is “mission-critical” that this be resolved as soon as possible,” Lagarde said in her address to the George Washington University. The United States, she said, needs to “slow down and hurry up.” By that she meant less fiscal adjustment today and more tomorrow, she added.“That means replacing the sequester with more back-loaded measures that do not hurt the recovery. At the same time, the US needs to do more to make debt sustainable down the road — by containing the growth of entitlement spending and raising revenues,” Lagarde said.</div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Forget the current government shutdown. Economists say it’s the upcoming debt ceiling impasse that could plunge the United States into a recession. About half of the 22 economists surveyed by CNN Money say a recession will be unavoidable if Congress fails to raise the nation’s debt ceiling before the Treasury runs out of cash later this month.', 'sortorder' => '1824', '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' => '1957', 'article_category_id' => '116', 'title' => 'Nexus Announces Cisco Select Certified Partner Status', 'sub_title' => '', 'summary' => null, 'content' => '<div> <img alt="" src="/userfiles/images/nexus.jpg" style="width: 500px; height: 71px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security. Cisco is ranked second in x86 Blade Servers as per IDC’s Q2 2013 figures. Nexus Solutions provides the complete suite of Cisco solutions and has certified and qualified Cisco resources to design, implement and support Cisco solutions for enterprise and SMB customers in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Partners with XRoads Networks</strong></span></div> <div> Similarly, Nexus Solutions also signed up with XRoads Networks as an authorized partner. XRoads Networks is the inventor of Unified Bandwidth Management Solutions and its product features include Accelibond Internet Link Bonding, Adaptiband Dynamic Bandwidth Management, Site2Site VPN Virtualisation, Xflow Real-time Network Reporting, ActiveDNS Inbound Load Balancing, Server Load Balancing, MultiWAN Link Load Balancing, Application QoS/Throttling & Comprehensive Cloud Firewall/LAN Router. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nexus Solutions Pvt Ltd has achieved Cisco Select Certified Partner Status from the American multinational company Cisco Systems Inc. Cisco is the world’s largest vendor in routing, switching, Wireless LAN, Voice, TelePresence, web conferencing and security.', 'sortorder' => '1823', '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' => '1956', 'article_category_id' => '190', 'title' => 'Samsung Galaxy Note 3 + Galaxy Gear Smartwatch: A Smart Combo', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Note 3 </strong></span></div> <div> The Galaxy Note 3 is the third in the line of Samsung's popular Note 'phablet' series. This time it has just become even more powerful and bigger. Powered by a 1.9 Ghz octa-core Qualcomm Snapdragon 800 processor along with 3 GB of RAM and Adreno 330 (N9005) GPU, the Galaxy Note 3 runs on Android 4.3 Jelly Bean with the latest Samsung Touchwiz UI overlay. The Samsung Galaxy Note 3 has a 5.7-inch Full HD display that comes with the latest edition of Samsung’s S-Pen stylus. The 1920x1080 resolution (386 pixel density) of Super AMOLED capacitive touchscreen displays vibrant colours giving sharp and crisp experience to the users. The sheer power of Note 3 turns the phablet into the most powerful smartphone available in the market till date. With these specs, users can easily do their computing needs including high-end mobile gaming and smart multitasking. The powerful processor and mammoth RAM size helps to instantly load apps with no noticeable lag. Though being a phablet, users won't feel it too large in their hands as the Note 3 is thin at just 8.9 mm and weighs around 168 grams. </div> <div> </div> <div> The Note 3 sports 32 GB internal storage. The phablet also houses a micro SD card slot which can be used to expand the storage capacity up to 64 GB. The Note 3 comes with enhanced privacy and security protection provided by Samsung KNOX feature. Users can activate Samsung KNOX with ease which allows them to run and store security-sensitive applications and data inside a protected execution environment called "container." Furthermore, the phablet is equipped with an improved "Find My Mobile" feature that allows users to disable the phone when it is stolen or lost. The Note 3 sports USB 3.0 support, which makes transferring movies and music to the device much faster than most other smartphones. The phone has 4G LTE, Bluetooth 4.0, Wi-Fi, Near Field Communicator (NFC) and Infrared for internet and other kinds of connectivities. </div> <div> </div> <div> The phablet also has decent power backup as it comes with a 3,200 mAh battery. The Note 3 houses a 13 megapixel camera at the back side which produces clean, colourful and sharp images in decent lighting. The camera is capable of capturing ultra high-definition 4K video. Similarly, for 3G calls the phablet sports a 2 MP front facing camera. The build quality of the phone is another striking feature. Unlike other smartphones with plastic back panels, Samsung has covered the back panel of Note 3 with leather which gives users a premium and exclusive feel. Samsung Galaxy Note 3 is priced at Rs 91,500 in Nepal. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Samsung Galaxy Gear </strong></span></div> <div> Another attraction of the launch event was Samsung Galaxy Gear smartwatch. The highly anticipated wearable gadget not only lived up to the hypes but also gave a glimpse of the changes occurring in the technology market. The Galaxy Gear seems to be changing the way of wearing wristwatch and managing the digital life of users in the near future. The stylish computerised watch allows users to check their e-mails, messages and take photos. The Gear also lets users make and take phone calls right from the wrist using a built-in speaker and microphone. The 1.64 inch Super AMOLED touch screen of the smartwatch has 320 x 320 pixels resolution with an image density of 277 ppi. It comes with an 800 Mhz processor, 4 GB internal storage and a 1.9 MP camera that is attached to the left side of hand strap. Samsung has linked the Gear with Galaxy Note 3. Galaxy Gear will notify users and give quick previews of incoming texts, e-mails and more from synced Note 3. Similarly, users can click videos and images from the Gear and transfer it to their Note 3 device via Bluetooth 4.0 connectivity. The Gear also sports an accelerometer and a gyroscope. This wearable computerised wristwatch carries a price tag of Rs 46,500 in the Nepali market. </div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-17', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Samsung, the Korean smartphone manufacturer seems to be adding a new definition of smartness with the latest line-up of its high-end gadgets. On October 4, Friday, International Marketing Services Pvt Ltd, the authorised distributor of Samsung Mobile in Nepal launched the highly anticipated gadgets - Samsung Galaxy Note 3 and Galaxy Gear smartwatch amid an event in Kathmandu.', 'sortorder' => '1822', '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' => '1970', 'article_category_id' => '37', 'title' => 'Commercial Bench In Nepali Courts Prospects And Challenges', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Rudra Sharma</strong></div> <div> </div> <div> The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address. However, there were demands of a commercial court/bench for the last 20 years or so. People in seminars organized by Nepal Rastra Bank in association with the World Bank and International Monetary Fund identified the need of a commercial court/bench in Nepal for appropriate and speedy dispensation of justice in commercial case.</div> <div> </div> <div> In 2063 BS, the Supreme Court has set up a task force on this regard. The task force reviewed several exercises together with some international practices for establishment of Commercial Bench. The Task Force studied the reports of Court Management Committee, 2055 Court Strengthening Committee, 2058 and the Five Year Strategic Planning of the Court (2061- 2066). The Ministry of Law and the Ministry of Industry had also carried out some consultation with the Supreme Court in the year 2059 for the establishment of Commercial Court.</div> <div> </div> <div> A project carried out under the loan assistance of Asian Development Bank namely Improving Legal Enforcement Mechanism and Judicial Capacity had a component called Establishment of Commercial Bench under its package 2 activity. From Manshir 2059, this project carried out activities on establishment of Commercial Bench. This project had hired an expert Hon. C.</div> <div> </div> <div> W. Pincus QC who submitted a report recommending a number of things on establishment of commercial bench. Nepal Judicial Academy (NJA) also worked very closely with this project on the Commercial Bench component. This project had also worked with private sectors like Federation of Nepalese Chambers and Commerce and Industry (FNCCI) and others in this course.</div> <div> </div> <div> According the report of the Task Force, Commercial Cases Baseline Survey, 2003 carried out by Nepal Law campus presents 17 different kinds of cases as commercial cases tried and tested in several courts all over the country. The 17 different kinds of cases are - Company, Secured Transaction, Contract, Insolvency, Banking and Negotiable Instruments, Arbitration, Intellectual Property, Finance, Foreign Investment, Insurance, Security Transaction, Agency, Partnership, Construction, Leasing/Rent, Transportation and any others.</div> <div> </div> <div> Analysing the evolution of concept of Commercial Bench and a comparative study on commercial dispute settlement of some other countries like United Kingdom, United States, India and China, the Task Force has finally put forth 26 suggestions.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Establishment of Commercial Bench </strong></span></div> <div> On 2065 Magh 1, the government of Nepal established a Commercial Bench in four Appellate Courts namely Biratnagar, Patan, Butwal and Nepalgunj and later added Hetauda Appellate Court also through a notification on 2067 Baisakh 1. These Commercial Benches are provided with jurisdiction to look after cases of Secured Transaction Act, 2063, Competition Promotion and Market Promotion Act, 2063, Company Act, 2063 and Insolvency Act, 2063.</div> <div> </div> <div> Later, the government of Nepal, through a notification published on 2065 Shrwan 5, extended the jurisdiction of the Commercial Benches for the disputes under Banking Offence and Punishment Act, 2066. Most of the cases going to Commercial Bench were filed in the Commercial Bench of Patan Appellate Court. Some 99 commercial cases were filed in the Patan Appellate Court up to the fiscal year 2067, some 154 cases were filed in the fiscal year 2067/068, some 237 cases were filed in the fiscal year 2068/069 and some 263 cases were filed before the completion of the fiscal year 2069/070.</div> <div> </div> <div> After the establishment of the Commercial Bench, a procedure for the same was supposed to be made. In fact, a procedure is also drafted. However, the procedure has not come into force. Company Act, 2063 and Competition & Market Promotion Act, 2063 have provided that lawsuits under these Acts should follow summary proceeding. The Insolvency Act provides for a procedure within itself and that procedure is being followed now generally.</div> <div> </div> <div> No special procedure is prescribed for Secured Transaction Act and Banking Offence Act. These two Acts seem to follow general procedure. Despite the lack of a specific procedure for the Commercial Bench, Chief Judge of the Appellate Court where the Commercial Benches reside have provided for necessary procedural matters as and when required. For example, cases of Commercial Bench are heard by a division bench, other cases related to the case filed in the Commercial Bench are also heard in Commercial Bench, so on and so forth.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Commercial Bench & Expectations</strong></span></div> <div> The primary expectation with the Commercial Bench was that it would look after all the commercial cases gradually. It was a good beginning that the Commercial Bench was assigned to hear cases under three categories and later under five categories. However, it was very unfortunate that the jurisdiction of the commercial bench was not extended to other cases under other Acts.</div> <div> </div> <div> The basic benchmark to evaluate the function of the Commercial Bench is its comparative worth and value, i.e. what and how it contributed compared to previous court system where there were not Commercial Benches. There are hardly any evidences that the Commercial Bench could prove its worth. This is because, we already have had a regular court system and the Commercial Bench was brought to existence for a better performance and better dispensation of justice with respect to commercial cases. But, unfortunately it did not happen.</div> <div> </div> <div> The Task Force report mentions that the erstwhile judiciary of Nepal was looking after some ten kinds of commercial cases even if there were no such commercial benches. The cases were - dispute related to loan or credit, dispute about security or pledge, dispute related to buying and selling of property, dispute related to trademark, dispute related to commercial loan, dispute related to liquidation of company, dispute related to shareholders of company, Torts related trade and commerce and other economic cases.</div> <div> </div> <div> According to primary expectations and the decade long preparations, the scope of the Commercial Court was supposed to be extended to other commercial cases too and subsequent legal reform as well as administrative reform were also supposed to be made in order to pave a way for the same.</div> <div> </div> <div> It did not happen unfortunately, and this proved to be a major setback for creating condusive environment for invitation of foreign investment in Nepal and also for maintaining as well as retaining investment in Nepal. The exact expectation of about the Commercial Bench was to develop it as a real center for commercial dispute settlement.</div> <div> </div> <div> The Task Force report states that the concept of commercial bench was evolved in an endeavour to create sufficient legal and judicial environment for business as well as economic activities. But we can hardly find evidences to understand how the commercial bench contributed to create such environment. However, it does not mean that the commercial bench did not do anything. But, it should be judged in comparison to the contribution of the regular court system before establishment of commercial bench. According to the Task Force report, the regular court system was looking after 10 different kinds of commercial cases. As the commercial benches took up only cases under five categories, it gave a kind of impression that commercial cases are related to those five cases only.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Challenges</strong></span></div> <div> The major challenge of the Commercial Bench is the mindset of the judicial leadership. The judicial leadership probably thinks that the regular Appellate Courts would be less important if all commercial cases would go to the Commercial Bench. I wish to be wrong at this point. But, it would be very dangerous if the judicial leadership continues to be influenced by such thinking.</div> <div> </div> <div> Another challenge is the lack of competent human resources required for the Commercial Bench. This challenge can be overcome with appropriate will power and leadership of the judicial administration. We cannot import or invent such competent human resources. However, there would be no additional cost for managing the resources already available in the market.</div> <div> </div> <div> On the one hand, commercial cases are not coming to the Commercial Bench due to lack of proper legal arrangements on jurisdiction and on the other hand, there are competing and repeating jurisdictions for the dispensation justice through commercial cases. Several cases are put in arbitration process. Almost all of them are commercial cases. But, the appeal on arbitration settlement goes to the Appellate court but not to the Commercial Bench. The Debt Recovery Tribunal hears cases relating to debt recovery of the banking institutions. Revenue Tribunals look after cases related to taxes. Labour Court hears the cases related to labour issues.</div> <div> </div> <div> The money laundering related cases are handled by the money laundering department. Corruption cases are handled by Commission for the Investigation on Abuse of Authority (CIAA). Criminal Investigation Bureau of Nepal police also carries out investigation in some commercial cases.</div> <div> </div> <div> Thus, the commercial cases are scattered and thereby losing the scope of making the Commercial Bench a hub for settlement of commercial disputes.</div> <div> </div> <div> The Commercial Bench has jurisdiction over the Banking Offense Statute, but it does not have jurisdiction over Banking and Financial Institutions Act (BAFIA). It has been ridiculous practically. Such examples are there in other sectors too.</div> <div> </div> <div> Some of the practices of Appellate Court where the Commercial Bench resides have defeated the very purpose of the Commercial Bench. A case demanding for interim relief does not go to the Commercial Bench. Regular Bench hears it. Once a party receives interim order, it keeps on postponing the hearing date, pending the interim order. Sometimes, such cases are postponed for many times even from the weekly calendar putting a trouble to the opposite party to even to identify whether the hearing date was postponed or not.</div> <div> </div> <div> Such practices are serious fraud on the administration of justice and responsible persons must be punished.</div> <div> </div> <div> In most of the times, dispute on contract cases that happen to be commercial cases do not go to Commercial Bench. The prevailing contract law has provided interim relief in the form of appropriate order. In such situation, the existence of Commercial Bench happens to be a great irony.</div> <div> </div> <div> Great difficulty is experienced in Nepal for administration of contract, especially international contract. The courts generally provide stay order depriving the aggrieved party from carrying out the necessary activities according to the contract. Such a situation causes great mockery of the existence of the Commercial Bench.</div> <div> </div> <div> Due to the above reasons, the expectation that Commercial Bench would establish a minimum predictable legal environment on doing business in Nepal remains a distant dream. This has put a great threat for the invitation of foreign investment in Nepal. The Commercial Bench should overcome all these challenges in the time to come.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Experiences of India on Commercial Bench</strong></span></div> <div> In the year 2009, the Lok Shaba of India passed the Commercial Division of High Court Bill, 2009. But, the Bill is yet to be passed by the Rajya Saba.</div> <div> </div> <div> The Bill envisages separate divisions in each high courts to handle commercial disputes above certain value along with a procedure for the same. In the same year 2009, the Delhi high court established arbitration center and gave a message that the Indian judiciary was not anti-arbitration. In the same year 2009, London Court of International Arbitration set up a center in India. These two institutions paved way for institutional arbitration in India as an effective tool for settlement of commercial disputes.</div> <div> </div> <div> The Indian courts have made controversial interpretations of the Indian Arbitration & Conciliation Act, 1996. In the case of SBP & Co versus Patel engineering the Indian Supreme Court upheld the role of courts in appointment of arbitrator if one of the parties fails to nominate an arbitrator. This decision has been criticized as it put a great hurdle to separate arbitration from court. But in the year 2012 September, the Indian Supreme Court in the case of Bharat Aluminum Company Ltd. ( BALCO) versus Kaiser Aluminum Technical Service ruled that the Indian Arbitration Act will not apply if the arbitration proceeding are held outside India. This ruling of the Indian Supreme Court has been praised from many quarters as it has helped to separate domestic and international arbitration as well as separating arbitration from the courts.</div> <div> </div> <div> It seems that the establishment of arbitration center at the Delhi high court demonstrates the willingness of Indian judiciary to make the high court as hub of settling commercial dispute and the Supreme Court ruling of</div> <div> </div> <div> 2012 in the case of BALCO shows the willingness of Indian judiciary to separate arbitration from judiciary. It seems that these all issues will be categorically addressed by the pending Bill called the Commercial Division of High Court Bill, 2009. The underlined aim of all these schemes would be making India a preferred investment destination as the courts will provide a minimum predictability on legal environment.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>International Dimensions</strong></span></div> <div> Nepal became member of World Trade Organization (WTO) nine years ago making several commitments for harmonization as well as standardization of administration of trade law in accordance with the provisions of the United Nations Commission on International Trade Law (UNCITRAL). Section 34 of the Arbitration Act, 2055 provides for enforcement of foreign arbitral awards.</div> <div> </div> <div> But, there are some cases where the Appellate Court has refused for enforcement of some foreign arbitral awards and the appeal on such decisions of the Appellate court are pending at the Supreme Court. Our legal ecosystem should be clear at this point and the commercial bench should take lead on this.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How Commercial Bench should be </strong></span></div> <div> Therefore, the commercial bench in future should be able to be a hub and ultimate resort for the settlement of disputes related to commercial laws.</div> <div> </div> <div> Further, it should be established as a center of trust among the investors as well as among the public that the commercial bench ensures settlement of commercial disputes in tune of time. It will not be necessary that the commercial bench itself hears all disputes. But it should be the ultimate resort for settlement of such disputes. For this purpose, we need to make legal as well as administrative mechanisms that all commercial law related cases can ultimately reach to the commercial bench.</div> <div> </div> <div> We can continue separate arrangements of hearing commercial law related cases at the court of first instances like Labour Court, Revenue Court or Tribunal, Debut Recovery Tribunal. Besides, we also need to encourage to settle commercial law related cases through the means of alternative dispute settlement like arbitration, mediation, conciliation etc. However, commercial law disputes settled in all these court of first instances and cases settled through alternative dispute settlement mechanism should ultimately find their way to the commercial bench. Such arrangements should be all over the country not only in Kathmandu. We can make an arrangement that disputes involving certain amount or above should go directly to the commercial bench instead of the court of first instances.</div> <div> </div> <div> The commercial bench should also take over the newly emerging commercial cases. Cases related to banking institutions are prominent example, such as cases related to bounced, dishonoured of cheques, debt recovery and banking offence. There is a need of legal as well as administrative provisions on asset management. Lack of this has hampered expected functioning of banking system.</div> <div> </div> <div> The commercial bench in future should look after comparatively complex cases on banking law. There is a room to argue that the Banking Offenses Act seems to be draconian, providing scope for being misused. This Act is disproportionate since this gives higher hand to the regulating body Nepal Rastra Bank to take such action that may kill the institution instead of correcting it and functioning it again after action from Nepal Rastra Bank.</div> <div> </div> <div> Nepal Rastra Bank may feel the need of such law since the court system is not effective as mentioned above. However, a draconian law would not be an answer for non-effective court system. So, we need to improve the court system rather than practicing draconian laws. We need such legal system where the central bank can take action against the banking institutions for corrective measures, put them in the legal process and the banking institutions again functions after the central bank takes action. Taking action by central bank against banking institution should be a regular process rather than a fateful disaster.</div> <div> </div> <div> Other newly emerging cases on commercial law are related to money laundering, insolvency and trans-border commercial cases. Money laundering is a part of criminal law. But since it is a matter of financial crime but still it can be seen within the parameter of commercial law. International commitments as well as domestic needs have compelled to make the legal as well as administrative regimes on money laundering more stringent. It is said that this regime in the offing will compel to change over 40 prevailing laws on administration of criminal justice. The future commercial bench should be a center for hope and trust for the settlement of cases related to these all emerging commercial laws.</div> <div> </div> <div> The commercial bench should have a proper reporting system. The cases settled by commercial bench should be discussed publicly in the Bars and among the academics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Conclusion and Recommendations </strong></span></div> <div> Though Commercial bench could not prove its expected significance as we need to appreciate the initiations made and need to continue efforts to update and standardise it in accordance with need of the day.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Recommendations</strong></span></div> <div> 1. We need to seriously review the efforts made till date for establishment of Commercial Bench together with mapping the expectations made during such endeavours.</div> <div> 2. We need to extend the scope as well as jurisdiction of the commercial bench ensuring that all commercial cases either directly go to the commercial bench or go to other courts or tribunals that are supervised by the commercial bench.</div> <div> 3. There should be commercial benches covering all jurisdictions of Nepal.</div> <div> 4. Some cases having commercial issues may not go to commercial bench if such cases have monetary value in the disputes less than prescribed. Principally, it should be determined that commercial bench is to serve the purpose of establishing a preferred destination for investment, and therefore, it serves the creating conducive atmosphere for investment rather than establishing judicial principles. Prolonged judicial process and lengthy interpretations of statues can be done in regular courts not by commercial benches.</div> <div> 5. Among the commercial bench all over the country, there should be one commercial bench at the center Kathmandu with fast tract procedure. Commercial cases with certain threshold of investment and some other special circumstances should only go to this Fast Track Commercial Bench. Such arrangement would boost up confidence of investors.</div> <div> 6. There should be proper reporting system of the cases decided by the commercial benches so that the legal community as well as business community can provide feedback on the decisions by carrying out discussion on them.</div> <div> 7. There should be special efforts for legal reforms in order to accomplish the task of transforming the present commercial bench so that it can carry out all above mentioned matters.</div> <div> 8. Administration of commercial cases and legal reform should be carried out considering the international commitments of Nepal under WTO, UNCITRAL and other similar mechanisms.</div> <div> </div> <div> 9. Success stories of some countries like Singapore should be considered and we need to make analysis why Singapore scores over India on settlement of corporate conflict.</div> <div> </div> <div> <em><span style="background-color: rgb(240, 255, 240);">(Based on a paper prepared under an assignment of Commercial Law Committee of Supreme Court Bar Association. The writer is associated with Transactional Law House, an international law firm based in Kathmandu. He can be reached at rudralawyer@gmail.com. Cell- 9851057087.)</span></em></div> <div> </div> <div> <hr /> <div style="text-align: center;"> <span style="font-size: 16px;"><strong>“Lacunae in the legal system need to be minimised to attract foreign investors”</strong></span></div> <p> </p> <div> <strong style="font-size: 14px;"><img alt="Shreekant Poudel, the spokesperson of the Supreme Court" src="/userfiles/images/ep1.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />Shreekant Poudel</strong><span style="font-size: 14px;">, the spokesperson of the Supreme Court, in an interview with Britant Khanal of New Business Age he shed light on the introduction of commercial bench and its need.</span><strong style="font-size: 14px;"> Exceprts:</strong></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Could you highlight the reason behind establishing the commercial bench?</strong></span></div> <div> The first and foremost reason behind the establishment of this bench is the need for speedy justice, easy access and quick legal remedies for the commercial sector. Even more important is the demand made by the law in many acts after the Second Jana Andolan. It is clearly mentioned that such and such cases will be dealt by the commercial bench like for instance in Section Z8 of the Company Act. After 2006, the World Bank had also suggested the requirement of such a bench. The Company Act, the Secured Transaction Act and other acts related to safe competition have mentioned the requirement of this bench. Was this issue initiated by ADB? I don’t think so but the ADB had some general interest and it had recommended on bringing such a bench too.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What new prospects will the bench bring? Will it have the same old practices disguised as new?</strong></span></div> <div> In the process of establishing this bench we had to train judges, judicial staffs and even lawyers. The training lasts from one to one-and-a-half months as it required. The judges who attend the training are only sent to the bench for hearing commercial cases. The new commercial bench will therefore slowly shed some old ways.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There seems to be a paradox in the bench being established for the benefit of the commercial sector while the jurisdiction seems a bit scattered, vague and ambiguous. Could you talk a little about this? </strong></span></div> <div> We are still in the initial phase of establishing the bench. As I know, the initial requirement was to set up a separate commercial court, which came down to establishing a commercial bench in appellate courts. This was required because cases related to the commercial sector are heard in a scattered manner. For example, cases of contract are first heard by the district court, patents are heard by the department of industry, and many other cases are addressed by the Nepal Rastriya Bank (NRB) too. Therefore, a common institution to streamline all commercial cases and bring them under one umbrella seemed to be necessary.</div> <div> </div> <div> Home work is yet to be completed. It was rightly questioned whether or not offences in banking will be dealt by the commercial bench. The issue is still subject to research and analysis. There are other issues including intellectual property and cases of revenue tribunal. We are striving to bring all of these cases under the commercial bench.</div> <div> </div> <div> <img alt="Fiscal Year 2069/70 Cases Regarding Commercial Bench." src="/userfiles/images/ep2.jpg" style="width: 500px; height: 187px; margin-left: 20px; margin-right: 20px;" /></div> <div> <span style="font-size: 14px;"><strong> </strong></span></div> <div> <span style="font-size: 14px;"><strong>Has the bench been established in all appellate courts in the country?</strong></span></div> <div> No, we have not established commercial benches in all appellate courts as they are established in a need-based manner. The previous chief justice had recommended the bench to be established in six places including Pokhara but later it was only established in four places. We therefore have established this bench in five places including one in Hetauda which was established in 2011 and rest four at Biratnagar, Butwal, Nepalgunj and Patan.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Because this is a new and western practice, will we require a foreign consultation for the bench?</strong></span></div> <div> For now our resources have being doing a very good job but like you suggested, if there is a situation that demands foreign consultation, we can higher or send our resources for foreign education and exchange programmes but again, that will require the demand of the context.</div> <div> </div> </div> <hr /> <div style="text-align: center;"> <strong><span style="font-size: 16px;">“Judges need training”</span></strong></div> <p> </p> <div> <span style="font-size: 14px;"><img alt="Gandhi Pandit" src="/userfiles/images/ep3.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 200px; height: 246px;" />A well known advocate <strong>Gandhi Pandit</strong>, in an interview with Britant Khanal of New Business Age highlighted a pragmatic approach to commercial bench. <strong>Exceprts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>What is your opinion on the newly established commercial benches?</strong></span></div> <div> The judges must be competent to deal with all kinds of cases, but honestly, that is not possible all the time because of growing trade issues in the domestic and global markets. Some of the cases are so sophisticated that they require experts, which is not available in the country. Smooth functioning of the economy will require a better legal system, which will support rapid growth and development. Therefore, current situation demands a specialised commercial bench. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Where can we trace the footprints of this system?</strong></span></div> <div> This system can be traced to the continental legal system, commonly understood as the French and German legal system. In these systems, we can see the trends of a commercial tribunal, a labour tribunal, an industrial tribunal, among others. In these kinds of tribunals, the specialised skills of various sectors are brought together for the better understanding of the case. And this system was later followed by Britain and the US. This pragmatic approach has led to speedy justice and quick legal remedies in these nations. But in our context, we are still lagging behind. Our judges are still traditional and are only specialised in traditional issues such as cases of land dispute, writ petition, etc. We don’t have expertise on cases like letter of credit, IT law, intellectual property law, cases of trademark and so on. Even if they want to learn it, they have not been able to acquire such knowledge due to lack of infrastructure.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What could be the possible solution to such lacunae?</strong></span></div> <div> Only establishing the bench will not do the justice. Establishing the bench is one thing and effectiveness is another. The benefit expected has not yet been reaped due to inexperienced people in the field and it is not unwillingness on their part - they don’t have that access to knowledge. As judges are frequently transferred to places without access to such knowledge, they will require a proper training, and attending the training only once will not make an impact as there has to be periodic training which we are lacking. The national judicial academy has been training judges but in the same traditional cases only. Not enough training has been provided in the field of modern commercial issues. Another major problem is procedural delay. Our legal system has a very lengthy procedure before the cases reach the final hearing. These kinds of hurdles will further delay justice and so they will have to be reduced to a minimum. Such deficiencies in the system will give a very wrong message to foreign investors.</div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'The Word ‘commercial’ is not easy to define and thereby making it further difficult to define what is commercial case and what a commercial bench is supposed to address.', 'sortorder' => '1821', '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' => '1962', 'article_category_id' => '134', 'title' => '“Should Not Expect Much From NRNs Who Are Struggling Themselves Abroad”', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Jiba Lamichhane</strong> has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month. In this context,<strong> Janardan Baral</strong> of The Corporate spoke to him regarding the evaluation of his tenure and future plans of NRNA in Nepal. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size:14px;"><strong>How do you assess your two years’ tenure?</strong></span></div> <div> I think it would be good to evaluate my contribution from others. As a whole, I can say we have started some good initiatives. I am committed to fulfill my promises which I had made to my friends while declaring my candidacy for NRNA. I have succeeded to implement some of my plans. Expected results have been achieved in some plans, especially in creating a mutual fund and starting social projects in Nepal. We have been in discussion with political parties to sort out the dilemma of dual citizenship and discussions are moving in a positive direction. I am sure that our concern of dual citizenship would have been addressed if a new constitution was promulgated through the Constituent Assembly Election of 2008. We could not complete some tasks though we were very eager to. Registration of NRNA is one among them. Unfortunately, we could not register the NRNA in Nepal.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Though mutual investment was in your priority, it could not yield any tangible result. Why?</strong></span></div> <div> We have already started work towards this end. We have registered a company with Rs 5 billion authorized capital in the last year. Non-Resident Nepalis (NRNs) have invested Rs 1 billion in the company after we invited them to invest. We will add capita as per need in the company. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNs from developed countries are often blamed that they want credit by using remittance earned by those who work in Gulf countries. What is your say?</strong></span></div> <div> I do not agree with this point. I am not convinced that the mutual investment plan of NRNA has failed. NRNs from all walks of life have invested in the company. There is investment from gulf countries as well as from other countries. I am so upbeat that many friends are enthusiastic to invest in the company. It will continue if we can start some positive initiatives. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have always underlined the importance of NRN investment for the development of the country. But there is no visible progress so far.</strong></span></div> <div> I have put the mutual investment plan in special priority which has been the main agenda since the establishment of the NRNA. I have been saying that NRNs are yet to reach the position in which they can contribute miraculously to the development of the country. The new generation has been struggling to establish themselves abroad. We should not expect much from NRNs who are struggling to establish themselves abroad. Investment has been made from NRNs who have the capacity to invest individually. For instance, Shesh Ghale has already started investment in a five star hotel in Kathmandu. Investment is a process which continues forever. I request all to see the initiatives from NRNs in a positive light. </div> <div> </div> <div> <span style="font-size:14px;"><strong>You have also announced to start a 100MW hydropower project. What progress has been made so far?</strong></span></div> <div> We have started to invest in the hydropower sector through NRN Investment Limited which was established using capital from NRNA. NRN Investment Company has taken stake of a majority of shares of the 27MW Dordi Khola hydropower project in Lamjung. We have decided to complete this project in partnership with entrepreneur Chandra Dhakal. We have been studying the possibility to start other projects. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Yet, the trust and belief of Nepali people to the NRN has declined. How do you view the situation?</strong></span></div> <div> Trust and belief towards NRNs has not declined; rather it has increased. In recent days, NRNA has received recognition from the government and other agencies. There is organizational representation of NRNs in some crucial agencies including Nepal Investment Board and Economic Advisory Council of the Prime Minister. I have found that all have accepted the NRNA in a positive manner. </div> <div> </div> <div> <span style="font-size:14px;"><strong>There’s visible scuffle for leadership in NRNA. Who do you want to come as your successor?</strong></span></div> <div> It is natural that many friends have expressed their interest to assume leadership. And, many friends are able to take the responsibility. I wish for a leadership that can continue the good image of NRNA. The network of NRNA has been expanding – we have been successful in expanding our network to 65 countries. I want a new leadership with the commitment to run such a huge organization in an efficient manner. I will be neutral during the election. The candidate will be selected through a democratic process.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Does the NRNA get blamed for turning a cold shoulder to problems faced by migrant workers in Gulf countries?</strong></span></div> <div> All migrant workers are also NRNs. They have been facing so many problems but we alone cannot solve their woes. Our duty is to find the root cause and take initiative to reduce the problems. We have always prioritized migrant workers’ rights and we have been working through our welfare fund to safeguard rights of migrant workers. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NRNA has not been registered thus far. Can the organization go ahead without a legal status?</strong></span></div> <div> It is unfortunate that the organization has not got registered even though it has branches in 65 countries. We have applied six times for registration. The main reason for not being able to register is the contradiction in the statute of the NRNA and NRN Act 2064 B.S. Registration will be our main priority in the future and all sides are positive about this.</div> <div> </div>', 'published' => true, 'created' => '2013-10-08', 'modified' => '2013-10-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Jiba Lamichhane has been involved in business in various countries including Russia, United Arab Emirates and Nepal. It has been two years since he has been coordinating the International Coordination Council of NRNA (Non-Resident Nepalis Association). NRNA is going to elect a new executive committee from the new General Meeting which is going to be held this month.', 'sortorder' => '1820', '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' => '1969', 'article_category_id' => '39', 'title' => 'DJPL: Prioritising Import Substitution', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Gaurav Aryal</strong></div> <div> </div> <div> Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution. As a part of this strategy, the company established Nirog, a primary care division of the company in the last week of June, 2013. </div> <div> </div> <div> The division produces drugs for muscular inflammation, pain and emergency management, one of the segments where medicines are heavily imported from abroad. Hari Bhakta Sharma, Executive Director of DJPL said that the Nirog division’s primary objective is to supply high quality drugs to Nepalis while the company exploits its capacity to explore opportunities in the international markets. </div> <div> </div> <table align="right" border="0" cellpadding="1" cellspacing="1" style="float: left; margin: 0px 10px;"> <tbody> <tr> <td> <img alt="Hari Bhakta Sharma, Executive Director Deurali Janta Pharmaceuticals Pvt Ltd" src="/userfiles/images/cf1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 239px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>Hari Bhakta Sharma</strong></div> <div> Executive Director</div> <div> Deurali Janta Pharmaceuticals</div> <div> Pvt Ltd</div> </div> </td> </tr> </tbody> </table> <div> According to Sharma, this new division was established as a part of the company’s objective to produce medicines that help promote healthier living and prevent people from catching diseases. The company is dedicated to stabilise this newly established division before coming up with a new venture. DJPL has been launching a new division in every two to three years. Sharma said, “Pharmaceutical industry is all about a dynamic life science that is changing so fast that today’s technology becomes obsolete next day. To boost business competitiveness and mitigate product lifecycle, we need to do something new.” At the same time, companies like DJPL are realising the responsibility to substitute huge imports of drugs. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Export Dilemma </strong></span></div> <div> The export of drugs is being talked for a couple of years, but it is yet to be realised. “There are markets where we cannot compete. Also, at times the cost of production and cost of quality compliance is greater than the rate of return. In such markets, we drop the idea of export,” he said, adding, “In those markets where we want to compete, there are so much of regulatory barriers, and it is painfully time taking to meet all the requirements.” He said that DJPL and some other pharmaceutical companies are in a process of meeting all the requirements. According to Sharma, unlike n any other commodity, every pharma product and every production unit must be registered in the target country before starting exports there because drugs are considered highly sensitive as it is directly related to the human health. Moreover, Sharma said that the Nepali companies are becoming extra cautious before making any export commitments because of the unfavourable environment in Nepal to run manufacturing bases. </div> <div> </div> <div> <strong style="font-size: 14px;"><img alt="Production Capacity" src="/userfiles/images/cf4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 593px;" /></strong><span style="font-size: 14px;"><strong>Product Diversification </strong></span></div> <div> The company is focused on manufacturing drugs related with infections, cardiology, women’s health, and infectious diseases. The DJPL has been adding new plants and divisions every two to three years to come up with a new range of products. According to Sharma, the company has always been in a drive to product development. Apart from having a strong foothold in the domestic market, the company is searching for favourable overseas markets. Therefore, every move of the company is targeted towards product development, capacity building and boosting competitiveness. </div> <div> </div> <div> Sharma revealed that the company is planning to work also on the natural products. The DJPL is planning to establish a new plant in Chitwan and has hired a consultant for technical and physical infrastructure development required for starting the operation. But he also hinted that it would almost take a decade before this unit starts its production. “We have talked a lot about Nepal’s richness on herbs and medicinal plants. The government is seen ineffective in materialising Nepal’s richness on natural products. So, it is us, the private sector who must be doing something there,” he explained. Sharma further added that the company is working on it and DJPL is always committed to quality assurance as it is related with medicines and human health. </div> <div> </div> <div> Similarly, the company had come up with Aarogyam, a derma care division on August 2011. This division manufactures products especially for skin, eye and dental diseases. The company had set up this manufacturing unit on the occasion of DJPL’s 20th anniversary with an investment of Rs 50 million. This unit produces antifungal, antibacterial and anti-inflammatory products for treatment of skin diseases among others. Clomigen, Solbet, Conaz and Flutipro are some of the ointments manufactured by Aarogyam. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>Market Presence </strong></span></div> <div> Having over two decades of presence in the Nepali market, DJPL has established itself as a leading pharmaceutical company. The company claims that it has achieved this position because of its belief and commitment to quality products with affordability, use of cutting edge technology and a promise to offer better service to customers. DJPL has become a part of healing with its range of 220 products. </div> <div> </div> <div> Sharma claimed that DJPL holds five per cent share of the total size of pharmaceutical market of Nepal. There are 45 Nepali companies and 258 foreign companies present in the Nepali market. Similarly, the size of the Nepali pharmaceutical market is estimated to be of Rs 16.7 billion. Likewise the pharmaceutical industry of Nepal has created a direct employment for 9,650 people, according to Quantification Study 2011 on Pharmaceutical Markets. </div> <div> </div> <div> The company is using 60 per cent of its installed production capacity. DJPL has plans to utilise rest of the capacities to produce life saving medicines related to ailments of the heart, kidney, nerve and psychological complexities. The company says that it is conducting studies to understand the market feasibility so that it can utilise its 40 per cent production capacity that is not in use at the moment. </div> <div> </div> <div> <img alt="Quality Assurance" src="/userfiles/images/cf2%20(Copy)(1).jpg" style="width: 500px; height: 306px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Quality Assurance </strong></span></div> <div> DJPL has a total investment of Rs 870 million. According to Sharma, the company aims to produce best quality medicines at affordable cost. The use of ultra modern technology is also part of the company’s goals and also a contribution to Nepal’s industrial and economic development. “Quality assurance is the topmost priority of DJPL. Our Quality Assurance Department works independently with the support from Quality Control Department that has sophisticated technology along with highly qualified and trained personnel,” Sharma said. It also operates a full-fledged microbiological testing facility, which is in line with international standards. </div> <div> </div> <div> Sharma claimed that DJPL is one of the pharmaceutical companies that invest heavily in research and development. The company has its own state of the art Research and Development Centre. The centre was inaugurated on January 2011. “We aim to develop new products matching the fast paced development of the 21st century alongside periodic updates to the formulas of all the drugs that we currently produce matching trends worldwide,” Sharma explained.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Human Resource Management </strong></span></div> <div> The company has always prioritised its staff members. DJPL has adhered to its policy to enhance employee’s skills and capacity building. According to Sharma, that attempt will provide socio economic benefits to employees. Currently there are 350 employees. Executive Director Sharma said, “DJPL comprises of young, energetic and dedicated professionals who have the expertise, knowledge and perception to bring about latest technologies in pharmaceuticals manufacturing.” He also added that the company is constantly exercising critical thinking to maintain professional competence for excelling the quality of its products. The company is devoted to enhance the work skills and knowledge of staff members through trainings, experience and exposure within and outside Nepal.</div> <div> </div> <div> <img alt="DJPL NEPAL" src="/userfiles/images/cf3%20(Copy).jpg" style="width: 500px; height: 138px; margin-left: 20px; margin-right: 20px;" /></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Major Milestones </strong></span></div> <div> DJPL, a WHO-GMP, ISO 9001 and ISO 14001 certified company began its production from January 30, 1991 though it was established on June 23, 1988. The growth and expansion of the company has never slowed down. In 1995, company began technical collaboration with Renata Limited, a company from Bangladesh, another remarkable move for the company that helped it surge. Similarly, on August 2005, a new division Suswasthya, a systematic care division was brought into being. </div> <div> </div> <div> The never ending journey of success continued for DJPL. The company claims, it is the first Nepali company to be certified with ISO 9001 and ISO 14001. Company received this coveted recognition in 2003. A year later the company was awarded with WHO-GMP certification. </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-17', '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' => 'Deurali Janta Pharmaceuticals Pvt Ltd (DJPL), a leading pharmaceutical company is working with an aim of import substitution.', 'sortorder' => '1819', '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' => '1966', 'article_category_id' => '52', 'title' => 'Doubling The Growth', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional. When government legitimacy comes under serious interrogation mark, economic growth hardly becomes a national agenda.</div> <div> </div> <div> The current state of Nepali economy fits into exact definition of stagflation -- the stagnated growth and uncontained inflation. Average year-on-year growth rate of the economy for the last whole decade beginning 2002 (when growth rate, computed as Gross Domestic Product (GDP) had dipped to negative territory) has hardly crossed 3.5 percent mark.</div> <div> </div> <div> Poor growth rate is not the only worst part of it, but even the lack of meaningful debate on the constraints and remedies is making the situation worst. But the inflation even in official figures is invariably in double digits.</div> <div> </div> <div> If not from the government, tangible initiatives to this end had to come from the private sector. But nothing of that sort happened in the recent past. To fill this gap, the New Business Age (NBA) Pvt. Ltd from this year on, in partnership with some leading business entities of the nation, has taken a maiden initiative to take the growth debate to the centre stage of national economic policy parlance.</div> <div> </div> <div> Nepal in the past did witness some debate over her growth concerns, but most of them were rather slanted or impractical. In different chapters of history, we were made to hear high-pitched rhetoric of double-digit growth, Swiss or Singaporean pace of growth, leap-frogging growth or a growth taking Nepal to a developing from an underdeveloped country status. These all were tall, very tall asks, to say the least.</div> <div> </div> <div> The double digit growth or upliftment of the country’s status to a developing one are essentially the same concepts. For this, Nepal needs at least some Rs. 400 billion of capital expenditure annually, or at least 8.5 percent growth rate, for ten consecutive years. This indeed is unimaginable for several years to come. Other claims were bare political stunts, so had no scope of realizing them at all.</div> <div> </div> <div> In view of these dogmatic misadventures of the past, the NBA wanted a meaningful debate to take off that is based on feasible goals against the existing ground realities. This led to the conclave on the theme 'Doubling of Growth of the Nepali Economy to 7 per cent GDP: The Roadmap Ahead.' Based on the 3.5 percent of growth rate of the past fiscal year, the idea of doubling was born, which looked fairly achievable if we could religiously pursue it.</div> <div> </div> <div> Needless to say, growth in national GDP is a multi-sector endeavour. Among them too, it is important to identify and focus on key sectors that can either serve as prerequisite to long-run sustainable growth like hydropower or yield immediate growth results like agricultural productivity and tourism.</div> <div> </div> <div> But, most important of all is quintessentially lead role of the private sector in investment, production and distribution of all goods and services. Of course, support of the state from the background is needed as security or ground for fair-play. Guided by this philosophy, the NBA coincided the conclave of growth debate, organized in Kathmandu on 24th August, with the opportunity to recognize the contribution of business sector to growth. This recognition came in the form of the 10 categories of business awards.</div> <div> </div> <div> For the sustained prosperity of the nation, we should be able to make the growth not a flip-flop show but a habit. We need to start modest and all big dreams will fall in line with accomplishment of the starting ones. If we achieve 7 per cent growth first, then the double-digit can be followed soon. More important here: we needed a right beginning. And, with this successful conclave, we in NBA feel, the beginning has indeed been right.</div> <div> </div>', 'published' => true, 'created' => '2013-10-09', 'modified' => '2013-10-09', 'keywords' => 'new business age from the editor news & articles, from the editor news & articles from new business age nepal, from the editor headlines from nepal, current and latest from the editor news from nepal, economic news from nepal, nepali from the editor economic news and events, ongoing from the edi', 'description' => 'The economic growth of any country is neither achieved by chance nor is it a thunder-struck miracle. In fact it’s a combination of many contributing factors-both economic and socio-political. In a country like Nepal, where political uncertainty is nagging for decades, institutional set ups responsible for overall development are gradually being rendered dysfunctional.', 'sortorder' => '1818', '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
