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Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 60]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '1944', 'article_category_id' => '109', 'title' => 'INFICare Introduces ‘POSCASH’', 'sub_title' => '', 'summary' => null, 'content' => '<div> INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.</div> <div> </div> <div> Issuing a press release, INFICare said that to use this service, an SCT Card holder customer should visit POSCash’s appointed merchant along with his/her SCT card and PINNO with a passport-size photo and a valid ID Card</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.', 'sortorder' => '1802', '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' => '1943', 'article_category_id' => '109', 'title' => '13bn Bid For 10bn Reverse Repo', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period. The NRB has said it has fixed 0.542 per cent weighted average discount rate for the reverse repo this time. The bank had already absorbed Rs 43.50 billion from the financial system by holding four reverse repos and one outright sale auction within a month.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period.', 'sortorder' => '1801', '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' => '1942', 'article_category_id' => '109', 'title' => 'Chilime’s 295pc Cash, 100pc Stock Dividend In 10yrs', 'sub_title' => '', 'summary' => null, 'content' => '<div> Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal. “We are building four hydropower projects in four years of 270.3 megawatt total capacity,” he said, adding that the company could distribute additional dividend after the completion of the projects. According to the company, it has already managed the fund for these projects. </div> <div> </div> <div> The AGM also endorsed the proposal to distribute 30 per cent bonus shares and 10 per cent cash dividend this year. “We have decided to distribute the bonus to manage funds from shareholders for upcoming projects,” he said. The company has said it will increase its paid-up capital by distributing bonus shares every year. The company has Rs 1.75 billion as paid-up capital until the Fiscal Year 2012-13. With the distribution of 30 per cent bonus shares, the paid-up capital reaches Rs 2.30 billion. </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal.', 'sortorder' => '1800', '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' => '1941', 'article_category_id' => '155', 'title' => '‘CA Is A Subject To Study With Hard Work And Self Confidence’', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size:14px;"><img alt="Paramananda Adhikari" src="/userfiles/images/jv.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 250px; height: 329px;" />Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme. This week, The Corporate’s <strong>Pradip Adhikari</strong> spoke to <strong>Paramananda Adhikari</strong>, Technical Director, ICAN (Institute of Chartered Accountants of Nepal), to find answers to some frequently asked questions.<strong> Excerpts:</strong></span><br /> <br /> <span style="font-size:14px;"><strong>What kind of course is Chartered Accountancy?</strong></span><br /> Chartered Accountancy (CA) is a professional course. Lately students’ attraction towards CA has been increasing. The CA profession is now as respected as the Doctor and Engineer profession in national and international markets.<br /> <br /> <span style="font-size:14px;"><strong>What are the criteria to study the subject?</strong></span><br /> CA is studied in three phases: CAP 1, CAP 2 and CAP 3. CAP 1 is the first phase. Plus two graduates can get admission to the CAP 1 phase and students who have passed CAP 1 are eligible for CAP 2. Similarly, undergraduate and graduate students who have secured above 50 per cent can also get admission in CAP 2. CAP 3 can be studied only after passing CAP 2.<br /> <br /> <span style="font-size:14px;"><strong>What would you like to suggest to the students willing to study CA?</strong></span><br /> CA is a subject to study with hard-work and self-confidence. The course is not that difficult but one should be determined enough to study it. CA shouldn’t be taken lightly. The income of a Chartered Accountant is higher compared to that of other occupations. As Nepal is a developing country, there are lots of opportunities in this field and its scope is high in the international market too.<br /> <br /> <span style="font-size:14px;"><strong>How much does it cost to study CA?</strong></span><br /> The course costs Rs 90 thousand for all 3 levels combined. Besides that, there are fees for coaching classes. Coaching classes are run by institutes affiliated to ICAN. Every institute charges differently. It is up to students to choose what is best for them. CA is a course where one can earn while studying too. Thus, the investment can be recovered while studying.<br /> <br /> <span style="font-size:14px;"><strong>What is the difference between the Chartered Accountancy (CA) courses available in Nepal and those available in other countries?</strong></span><br /> The CA courses are similar around the world. There is no difference between those offered in Nepal, USA, South Africa or any other nation. As India has a big market and a similar culture to Nepal, Nepali students are attracted to studying CA in India. It is believed that degrees from Indian Universities are acclaimed. However, this is not true. Students who have got a degree from India have to give an exam in Nepal as well. In my point of view, since students have to return back to their own country after completing their studies, there is no difference between getting a degree from India or from Nepal.<br /> <br /> <span style="font-size:14px;"><strong>How has ICAN been helping students of CA in Nepal?</strong></span><br /> We have been helping students at various levels. We provide them counseling, revision tests, library facility, crash courses and so on. We also provide 50 per cent scholarship to the needy and meritorious students. ICAN provides scholarship to about 30 students each year. Around 140 students have received scholarships from ICAN till date. We have been sending students to various countries through students exchange programmes as well.<br /> <br /> <span style="font-size:14px;"><strong>What kinds of courses are accommodated in a CA programme?</strong></span><br /> We have attempted to accommodate courses that are directly or indirectly related with the CA profession. Mostly, accounting, auditing, corporate law and taxation are included in the course. Some courses that have direct relation with CA profession such as information technology and business management are also incorporated. <br /> <br /> <span style="font-size:14px;"><strong>What is the examination procedure in a CA course?</strong></span><br /> CA has the most simple examination system. The examination is conducted twice a year in December and June. Cap 1 has three major subjects that need to be passed in a single attempt. Cap2 has two major subjects and that can be passed within two attempts. Students must score 50 per cent marks in an average. However, the pass mark is 40. If a student scores 40, 50 and 60 in the first, second and the third subjects, respectively, the student will have passed the examination.<br /> </p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme.', 'sortorder' => '1799', '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' => '1940', 'article_category_id' => '156', 'title' => 'To Master Your Next Meeting, Just Say ‘Yeah’', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> <strong>--By Rachel Emma Silverman</strong></p> <p> The next time you’re in a meeting and want to get people on your side, just say ‘yeah.’<br /> <br /> New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.<br /> <br /> Researchers Cynthia Rudin and Been Kim, a statistics professor and graduate student, respectively, at MIT’s Sloan School of Management , analyzed vocabulary usage and dialogue patterns in 95 meetings to see which words appeared to sway colleagues most.<br /> <br /> Among the words most likely to result in accepted proposals: ‘Yeah,’ ‘give,’ ‘start,’<br /> and ‘discuss.’<br /> <br /> While ‘yeah’ may seem like an odd candidate for a persuasive word, it may have currency because it signals agreement with what others have previously said. Framing a suggestion as if it were an agreement, rather than a conflict, may win favor more easily in a group, according to Dr. Rudin.<br /> <br /> Some words turned out to be good for steering colleagues away from a topic. ‘meeting’ was particularly effective when the speaker’s proposal aimed to halt discussion of a particular issue, as in “maybe this is something for the next meeting.” Those suggestions were almost always accepted, the researchers found.<br /> <br /> ‘Discuss’ was used in a similar fashion, to suggest how a meeting should be organized, as in ‘Maybe we should discuss this further.’<br /> <br /> The researchers also tried to identify standard dialogue patterns in meetings, and found employees rarely offered compliments after negative assessments. Doing so makes an employee sound disingenuous, the researchers wrote.<br /> (http://blogs.wsj.com/atwork)<br /> </p>', 'published' => true, 'created' => '2013-10-07', '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 next time you’re in a meeting and want to get people on your side, just say ‘yeah.’ New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.', 'sortorder' => '1798', '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' => '1939', 'article_category_id' => '151', 'title' => 'Day Long Workshop By V.S. Niketan', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation. Some experts of management from different sectors were also present in the programme who shared their opinions to the programme.<br /> <br /> KFA School of Management, Quest International College, Kathmandu College of Management and V.S Niketan College actively participated and presented their respective papers on various emerging issues of the nation like- ‘Brain Drain’, ‘Conflict Management’, ‘Crisis Management’ and ‘Banking Mergers’. The programme had three phases- inauguration, paper presentation, and group discussion.<br /> <br /> This workshop programme was supported by the sponsors- Nepal Bank Ltd., Everest Bank Ltd., Sunrise Press, Buddha Publication, and Distributers and the official media partners ‘The Corporate Weekly’ and Radio Shepherd 88.4 MHz. Kathford College won the first prize of the best presenter team. Neekita Sinnya from KFA School of Management won the honour and prize of the best presenter of the one-day long workshop.</p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation.', 'sortorder' => '1797', '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' => '1938', 'article_category_id' => '160', 'title' => 'Corptoon Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Corptoon', 'sortorder' => '1796', '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' => '1937', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Viausl Edit', 'sortorder' => '1795', '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' => '1936', 'article_category_id' => '105', 'title' => 'Real Leader In The Making', 'sub_title' => '', 'summary' => null, 'content' => '<div> The son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman. If he takes the book of Geeta, he will be a spiritual Guru, if it’s the bottle of Royal Stag, he will be a drunkard and a waster, and if he picks up the knife he is going to be a Don.</div> <div> </div> <div> Both of them waited behind the curtain and watched. As the son walked in, he noticed the four items on the table. He opened the bottle of whiskey and took a long swig, he pocketed the wand of rupees, put the knife on the back pocket and the Geeta, under his arm and calmly walked away.</div> <div> </div> <div> The father was excited. ‘Wow’, said the father, ‘he is going to be the real leader’. –ML</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman.', 'sortorder' => '1794', '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' => '1935', 'article_category_id' => '144', 'title' => 'Happy Dashain', 'sub_title' => '', 'summary' => null, 'content' => '<div> The festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.</div> <div> </div> <div> The only difference this time around might be for the political parties who will, no doubt, be campaigning even during the festival. Dashain is a golden chance for the candidates contesting in the upcoming Constituent Assembly (CA) election to connect directly with voters and convience them into their ideology and agenda by giving coveted gifts in return. Equally, people can take advantage of their advances by placing their queries and judging the efficiency of the candidates.</div> <div> </div> <div> Politics aside, there are many good aspects of Dashain as well as some bad practices. It is really difficult to celebrate Dashain for low-income families. Increasing inflation and lack of employment opportunities have hit the middle class population of the country. The culture of imitating others in celebrating Dashain will compel lower-income families to take loans. May this season bring some respite to all families living in acute poverty.</div> <div> </div> <div> Better off citizens should be aware of the social pressures unconsciously exerted upon others and be careful to celebrate responsibly. Excessive use of alcohol may create tension among neighbours and it should be avoided. People should also be alert regarding adulteration in food products and the possible compromises in hygiene during this period of high demand in traditional foods. The security agencies and government’s quality control mechanisms also should be careful to safeguard the people’s right to consume healthy food. Dashain being a festival that symbolises the victory of truth over evil, may this season bring conscience in business practices and the government’s responsibility.</div> <div> </div> <div> Dashain also acts as a social glue in our increasingly busy society. People observe the tika receiving ceremony as an opportunity to resume broken relations with their relatives and friends. The festival gives immense opportunity for relatives living abroad to come together as well. May this Dashain bring prosperity and joy to you and your family. Happy Dashain to all our readers!</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.', 'sortorder' => '1793', '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' => '1934', 'article_category_id' => '145', 'title' => 'The West Seti Hydro Project A New Model Of People-Private-Public-Partnership?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madhukar SJB Rana</strong></div> <div> </div> <div> For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.</div> <div> </div> <div> The project was a PPP project with SMEC providing 10 per cent of the power generated, or its equivalent in cash, to the Government of Nepal and exporting 90 per cent of the energy generated to India at a price of USD 4.86 per KWe under the Power Trade Agreement signed with the Power Trading Corporation (India). </div> <div> </div> <div> Under the BOOT model, the company was to transfer the ownership to Nepal after 25 years from the start of operations. In the wake of the acute power shortage in Nepal where the country has to suffer 12-14 hours of power outage in winter, it is not surprising that the people, both local and national, were opposed to such an export-oriented project. People also questioned the sheer lack of consideration for the full use of the water being damned for irrigation. </div> <div> </div> <div> Enter the China Three Gorges Corporation (CTGC), after which the West Seti Project may see the light of day. Let us hope that the CTGC takes this up as a 100 per cent FDI as it has the technology (the corporation has installed more than 20,300 MW thus far) as well as the management and financial capacity to execute it on a turnkey basis – once the selling price is settled. However, the project implementation will depend critically on issues over (a) land acquisition, (b) resettlement of the affected people,(c) construction of a transmission line to feed energy generated into the national grid and (d) learning from the mistakes of SMEC for failing to genuinely participate with the local VDC s and local communities.</div> <div> </div> <div> The project will provide immense benefits to the Far West Region comprising Baitadi, Bajhang, Doti and Dadeldhura districts – provided it is taken up as a People-Private-Public-Partnership (4Ps, not 3Ps) project where land acquisition is fairly and amicably done and the 16,000 plus people comprising 2125 plus households in the 20 VDCs get to be beneficiaries without having to be resettled elsewhere in the Tarai (Bardia, Kailali and Kanchanpur) – an ecological region totally alien to the locals’ lifestyle. In 2008, the Constituent Assembly MPs estimated that only around 20 per cent of the land is government owned and, further, that 1393 households involving 12,000 people would have to be relocated.</div> <div> </div> <div> A turnkey basis is suggested in order to get over the hassle of multiple financiers as was faced by SMEC. It may be noted here that the SMEC venture was originally to be completed in 2005.It then moved forward to 2012! Now, with the CTGC, the project is expected to be operational by 2021. The CTGC cost is estimated at around $1.7 billion. A turnkey project would free Nepal of the burden of cost over runs and delays and, more so, all manner of hidden transaction costs as payoffs to ever changing governments, politicians and bureaucrats. Should Nepal opt for federalism, the matter will be even more compounded by issues over jurisdiction and authority. Hence turnkey is the need of the hour. The next issue is under what model: BO; BOO or BOOT? How long should the contract be stipulated for? It is suggested that this be kept open depending on the PPPP project appraisal that should, ideally, seek a win-win for all stakeholders while sharing risks equitably. It needs be underscored here that China may, in the process, also come forth with a new model of development diplomacy based on the emerging concept of aid for trade.</div> <div> </div> <div> Space limits this discussion. Suffice to say that the 4th P can be incorporated by assessing the possibilities of transformation of the project area and its households by assessing possible local development opportunities over the life span of the CTGC project. The idea is simple: the area as well as the local people should benefit with the CTGC providing a new vision of social transformation, as partners, over the optimal life span of the project. This would require financial as well as economic appraisal of the project along with risk assessments and consideration of what fiscal, financial, monetary, land and infrastructure policies and programme support may be required from the local and central governments. Participatory Action Research (PAR, not simply PRA) should be engaged in to decipher the people’s wishes, desires, dreams and capacities. </div> <div> </div> <div> To conclude: ADB and Electricite de France, a French utility company, completed a 1070 MW Hydro Project in Laos where 6000 displaced villagers in 17 villages were successfully resettled into new homes along with legal grant of new plots of land and technical assistance in farming. Payments of due compensation to 18,000 villagers indirectly affected, situated in 92 villages, were provided in the form of assistance in agriculture, horticulture, fisheries, livestock, forestry and off-farm activities to include vocational and entrepreneurial skill training. Another 67 villages, lying adjacent to these 92 villages, got better access to education and health along with some cash compensation. </div> <div> </div> <div> The 4P model proposed here seeks all of the above plus more —it incorporates financial, fiscal, monetary and land acquisition terms and conditions into the model and decides on the precise nature of the partnership model-- and its duration-- only after due consideration of risks, financial and economic costs and benefits to all stakeholders. It goes way beyond the current royalty cum BOOT model that is standard fare to any and all projects which are in dire need of innovation on a case by case basis. </div> <div> (The Writer is a former Finance Minister and Professor at the South Asian Institute of Management.)</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', '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' => 'For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.', 'sortorder' => '1792', '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' => '1933', 'article_category_id' => '140', 'title' => 'Weekly Round-UP (30 September - 6 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<ul> <li> In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system. Businessmen can now register their company at the service centre established at the district by district chambers of commerce and industry. The service centre will provide the service of company registration and renewal. Representatives of the private sector have hailed the agreement saying that this public-private partnership could ease their process for company registration.</li> </ul> <div> </div> <ul> <li> The government has paved the way for Nepal Telecom (NT), a public entity, to bring in a strategic partner. The meeting of the Council of Ministers has cleared the decks for the government to sell a part of its stock in NT to the prospective strategic partner. Though the government has not decided the number of shares to be sold to the prospective partner, a technical committee formed last year had recommended the government to sell 30 per cent of its shares to such partner. Now, with the government’s nod, NT will hire a consultant firm to prepare bid documents for finding a new strategic partner. Officials at the Ministry of Finance say that a recommendation made by the technical committee will be considered while developing standards for the prospective strategic partner. Amid stiff competition posed with the entry of private telecommunication service providers in the market, the new strategic partner for the state entity is expected to provide some external stimulus to drive the company forward.</li> </ul> <div> </div> <ul> <li> Data has shown that the contribution of the financial sector to the Gross Domestic Product (GDP) of the country has remained constant for the last seven years. Though there has been a rise in the numbers of banks, banking access, deposit and loan amounts, the total contribution to the GDP each year since Fiscal Year 2006-07 to FY 2012-13 has remained around four per cent only. Stakeholders attribute the lack of investment friendly climate, political instability and investment areas, among others, behind such lackluster performance of the financial sector towards contributing to the GDP. This situation, economic analysts say, is very unfortunate for Nepal despite the possibility of it being an international financial hub.</li> </ul> <div> </div> <ul> <li> The Inland Revenue Department (IRD) has intensified the monitoring of the issuance of VAT bills against the backdrop of the Dashain festival. Though the IRD campaign to inspect the market in a bid to encourage customers and business firms to ask and issue VAT bills while buying goods and services is positive, the monitoring of the market on the eve of the festive seasons alone cannot ensure the full-practice of issuing a VAT bill. IRD had inspected 15,000 business enterprises last year during the Dashain festival, while it plans to monitor 20,000 business firms this year. This number is small among the total number of business firms in Nepal. Thus, analysts call for the widening of inspection in order to help plug revenue leakage.</li> </ul> <div> </div> <ul> <li> As the Constituent Assembly election date scheduled for November 19 approaches nearer, the donation drive of political parties is causing terror in the business community. Political parties and their election candidates are searching for businessmen to manage the funds they need to contest for the polls. The problem has become so serious that many businessmen have now stopped answering phone calls from unknown numbers while other are changing their numbers frequently to avoid demands for donation. Businessmen have become a primary source for exorbitant donations mostly during the election. </li> </ul> <div> </div> <ul> <li> Despite Nepal’s better economic prospects, India’s economic slowdown could hinder Nepal’s economic performance, according to a prediction by the International Monetary Fund (IMF). The effect of the India’s slowdown will also have an adverse impact in the financial sector as well as the overall economy. The IMF has recommended concerned authorities to tighten the monetary condition to reduce the gap between the interest rates in the two countries.</li> </ul>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system.', 'sortorder' => '1791', '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' => '1932', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Election Inevitable: Gachhadar</strong></span></div> <div> Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Rae Stresses Political Stability</strong></span></div> <div> India wants political stability in Nepal as it will have direct benefits to the Indian government and the Indian citizens, says Indian Ambassador to Nepal Ranjit Rae. He added that political stability will also open up the door to economic development. Speaking at a programme organized by the Nepal-India Friendship Association to welcome the newly-appointed Indian Ambassador in the capital last Monday, Rae said that India was ready to extend full support for Nepal’s economic development. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Regmi’s Nay to Resign CJ Post</strong></span></div> <div> Chairman of Interim Election Council Khil Raj Regmi has said that there are not any circumstances that can prevent the government from holding the Constituent Assembly polls on November 19. Speaking with journalists at Tribhuvan International Airport upon his arrival from New York last Tuesday, Regmi claimed that his government will hold the CA polls on the stipulated date. He also ruled out possibility of his resignation from the post of Chief Justice. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Adhikari’s Murder Accused Released</strong></span></div> <div> Chitwan Police has released Ram Prasad Adhikari, one of the accused of the murder of Krishna Prashad Adhikari of Phujel in Gorkha, last Monday (September 30) following a directive of the District Attorney’s Office. He was nabbed from Kathmandu a month ago and sent to Chitwan, where he was kept in detention and charged with murder. According to Chitwan Police Office, Adhikari was released after the police received a letter from the attorney’s office stating that he could not be prosecuted at the court due to lack of sufficient evidence.</div> <div> </div> <div> <span style="font-size:14px;"><strong>JC fails to appoint SC judges</strong></span></div> <div> The meeting of the Judicial Council (JC) held last Thursday could not appoint the judges at the Supreme Court (SC). According to an official at the JC, the meeting did not take any decision regarding the appointment of the judges. A source inside the JC said that the tussle between the Acting Chief Damodar Prasad Sharma and other JC members led to the indecision. Currently, there are 14 vacant posts for justices in the SC, out of which nine are permanent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Apex court stays decision to recall envoy Sharma</strong></span></div> <div> Supreme Court (SC) has directed the government to not implement its decision to recall the Nepali Ambassador in Qatar Maya Kumari Sharma. A bench of Justice Prakash Wasti directed the government last Friday not to appoint a new ambassador to Qatar until the issue was finalized on whether or not an interim order was required. Ambassador Sharma had filed a writ petition last Monday challenging the government decision to recall her from the post.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Notorious gangster Lama released on bail</strong></span></div> <div> Notorious gangster Ganesh Lama was released from jail last Friday, a day after filing his nomination for the upcoming Constituent Assembly polls from Kavre-2. Lama was released after posting a bail amount of Rs 30 million at the Special Court. Earlier on July 13, he was sent to jail by the Special Court after he failed to submit the bail amount. He has been charged by the Department of Money Laundering Investigation for amassing Rs 270 million through extortion, illegal contracts and banking transactions, among other illegal activities.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed.', 'sortorder' => '1790', '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' => '1931', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief ( 7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>StanChart’s Students Scholarship Project</strong></span></div> <div> Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday. CEO of the bank Joseph Silvanus gave away the scholarships at a function organised at the school. The bank has been providing scholarships to 15 deserving students of the school since 2002.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kathmandu University Celebrates 22nd Annual Day</strong></span></div> <div> Kathmandu University organized a special programme on September 25 to mark its 22nd Annual Day in the CV Raman Hall of the principal campus. A group of faculties, staffs and students organized a cultural programme to mark the occasion. Among the dignitaries to grace the occasion were Prof. Dr. Bhala Thapa, the Registrar, Prof. Dr. Suresh Raj Sharma, Founder Vice Chancellor, Prof. Dr. Sitaram Adhikari, Founder Registrar, and Mr. Bel Prasad Shrestha, member of the Board of Trustees. The deans and associate deans, directors, heads and coordinators, faculties and staffs of different schools attended the programme. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL Provides Financial Aid to Kathmandu University</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has extended its CSR activities in the field of education. The bank has contributed Rs 1 million to Kathmandu University (KU). The amount is to support KU’s Turbine Testing Lab for the purpose of education, research and development which will also aid the development of indigenous industries. KU has also entered into a technical cooperation with Norwegian University of Science and Technology (NTNU)/ Waterpower Land. It will be the first and only turbine testing laboratory in Asia. </div> <div> </div> <div> <span style="font-size:14px;"><strong>TU B.Ed, IA and I.Ed Results Out</strong></span></div> <div> Tribhuvan University Office of the Controller of Examination published the Results of B.Ed second year and IA 2nd year on 27 September. The exam of B.Ed 2nd year was held on Poush-Magh 2067 and the exam of IA 2nd year was held on Jestha-Ashad 2068. Similarly, TU also published the results of I.Ed second year (Back/Chance) on September 30, 2013. The exam of I.Ed second year was held on Ashad-Sharwan 2070. All results can be accessed at www.edusanjal.com.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Robotics Meet Concludes </strong></span></div> <div> Karkhana and Robotics Association organized Yantra 2.0’, a robotics competition at Dasarath Stadium on October 1. Around 217 participants from various cities of Nepal such as Pokhara, Chitwan, Biratnagar and Syangja took part in the competition. Students from secondary and high secondary school students also took </div> <div> part in the competition. Three major parts of the events were ‘Mission Nepal’, ‘Robo Akhada’ and ‘Robo Racer’. 3D printer was the attraction </div> <div> of the programme for visitors.</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday.', 'sortorder' => '1789', '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' => '1930', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NCM Merchant Appointed Yeti’s Share Registrar </strong></span></div> <div> NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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' => '1944', 'article_category_id' => '109', 'title' => 'INFICare Introduces ‘POSCASH’', 'sub_title' => '', 'summary' => null, 'content' => '<div> INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.</div> <div> </div> <div> Issuing a press release, INFICare said that to use this service, an SCT Card holder customer should visit POSCash’s appointed merchant along with his/her SCT card and PINNO with a passport-size photo and a valid ID Card</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.', 'sortorder' => '1802', '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' => '1943', 'article_category_id' => '109', 'title' => '13bn Bid For 10bn Reverse Repo', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period. The NRB has said it has fixed 0.542 per cent weighted average discount rate for the reverse repo this time. The bank had already absorbed Rs 43.50 billion from the financial system by holding four reverse repos and one outright sale auction within a month.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period.', 'sortorder' => '1801', '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' => '1942', 'article_category_id' => '109', 'title' => 'Chilime’s 295pc Cash, 100pc Stock Dividend In 10yrs', 'sub_title' => '', 'summary' => null, 'content' => '<div> Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal. “We are building four hydropower projects in four years of 270.3 megawatt total capacity,” he said, adding that the company could distribute additional dividend after the completion of the projects. According to the company, it has already managed the fund for these projects. </div> <div> </div> <div> The AGM also endorsed the proposal to distribute 30 per cent bonus shares and 10 per cent cash dividend this year. “We have decided to distribute the bonus to manage funds from shareholders for upcoming projects,” he said. The company has said it will increase its paid-up capital by distributing bonus shares every year. The company has Rs 1.75 billion as paid-up capital until the Fiscal Year 2012-13. With the distribution of 30 per cent bonus shares, the paid-up capital reaches Rs 2.30 billion. </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal.', 'sortorder' => '1800', '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' => '1941', 'article_category_id' => '155', 'title' => '‘CA Is A Subject To Study With Hard Work And Self Confidence’', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size:14px;"><img alt="Paramananda Adhikari" src="/userfiles/images/jv.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 250px; height: 329px;" />Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme. This week, The Corporate’s <strong>Pradip Adhikari</strong> spoke to <strong>Paramananda Adhikari</strong>, Technical Director, ICAN (Institute of Chartered Accountants of Nepal), to find answers to some frequently asked questions.<strong> Excerpts:</strong></span><br /> <br /> <span style="font-size:14px;"><strong>What kind of course is Chartered Accountancy?</strong></span><br /> Chartered Accountancy (CA) is a professional course. Lately students’ attraction towards CA has been increasing. The CA profession is now as respected as the Doctor and Engineer profession in national and international markets.<br /> <br /> <span style="font-size:14px;"><strong>What are the criteria to study the subject?</strong></span><br /> CA is studied in three phases: CAP 1, CAP 2 and CAP 3. CAP 1 is the first phase. Plus two graduates can get admission to the CAP 1 phase and students who have passed CAP 1 are eligible for CAP 2. Similarly, undergraduate and graduate students who have secured above 50 per cent can also get admission in CAP 2. CAP 3 can be studied only after passing CAP 2.<br /> <br /> <span style="font-size:14px;"><strong>What would you like to suggest to the students willing to study CA?</strong></span><br /> CA is a subject to study with hard-work and self-confidence. The course is not that difficult but one should be determined enough to study it. CA shouldn’t be taken lightly. The income of a Chartered Accountant is higher compared to that of other occupations. As Nepal is a developing country, there are lots of opportunities in this field and its scope is high in the international market too.<br /> <br /> <span style="font-size:14px;"><strong>How much does it cost to study CA?</strong></span><br /> The course costs Rs 90 thousand for all 3 levels combined. Besides that, there are fees for coaching classes. Coaching classes are run by institutes affiliated to ICAN. Every institute charges differently. It is up to students to choose what is best for them. CA is a course where one can earn while studying too. Thus, the investment can be recovered while studying.<br /> <br /> <span style="font-size:14px;"><strong>What is the difference between the Chartered Accountancy (CA) courses available in Nepal and those available in other countries?</strong></span><br /> The CA courses are similar around the world. There is no difference between those offered in Nepal, USA, South Africa or any other nation. As India has a big market and a similar culture to Nepal, Nepali students are attracted to studying CA in India. It is believed that degrees from Indian Universities are acclaimed. However, this is not true. Students who have got a degree from India have to give an exam in Nepal as well. In my point of view, since students have to return back to their own country after completing their studies, there is no difference between getting a degree from India or from Nepal.<br /> <br /> <span style="font-size:14px;"><strong>How has ICAN been helping students of CA in Nepal?</strong></span><br /> We have been helping students at various levels. We provide them counseling, revision tests, library facility, crash courses and so on. We also provide 50 per cent scholarship to the needy and meritorious students. ICAN provides scholarship to about 30 students each year. Around 140 students have received scholarships from ICAN till date. We have been sending students to various countries through students exchange programmes as well.<br /> <br /> <span style="font-size:14px;"><strong>What kinds of courses are accommodated in a CA programme?</strong></span><br /> We have attempted to accommodate courses that are directly or indirectly related with the CA profession. Mostly, accounting, auditing, corporate law and taxation are included in the course. Some courses that have direct relation with CA profession such as information technology and business management are also incorporated. <br /> <br /> <span style="font-size:14px;"><strong>What is the examination procedure in a CA course?</strong></span><br /> CA has the most simple examination system. The examination is conducted twice a year in December and June. Cap 1 has three major subjects that need to be passed in a single attempt. Cap2 has two major subjects and that can be passed within two attempts. Students must score 50 per cent marks in an average. However, the pass mark is 40. If a student scores 40, 50 and 60 in the first, second and the third subjects, respectively, the student will have passed the examination.<br /> </p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme.', 'sortorder' => '1799', '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' => '1940', 'article_category_id' => '156', 'title' => 'To Master Your Next Meeting, Just Say ‘Yeah’', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> <strong>--By Rachel Emma Silverman</strong></p> <p> The next time you’re in a meeting and want to get people on your side, just say ‘yeah.’<br /> <br /> New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.<br /> <br /> Researchers Cynthia Rudin and Been Kim, a statistics professor and graduate student, respectively, at MIT’s Sloan School of Management , analyzed vocabulary usage and dialogue patterns in 95 meetings to see which words appeared to sway colleagues most.<br /> <br /> Among the words most likely to result in accepted proposals: ‘Yeah,’ ‘give,’ ‘start,’<br /> and ‘discuss.’<br /> <br /> While ‘yeah’ may seem like an odd candidate for a persuasive word, it may have currency because it signals agreement with what others have previously said. Framing a suggestion as if it were an agreement, rather than a conflict, may win favor more easily in a group, according to Dr. Rudin.<br /> <br /> Some words turned out to be good for steering colleagues away from a topic. ‘meeting’ was particularly effective when the speaker’s proposal aimed to halt discussion of a particular issue, as in “maybe this is something for the next meeting.” Those suggestions were almost always accepted, the researchers found.<br /> <br /> ‘Discuss’ was used in a similar fashion, to suggest how a meeting should be organized, as in ‘Maybe we should discuss this further.’<br /> <br /> The researchers also tried to identify standard dialogue patterns in meetings, and found employees rarely offered compliments after negative assessments. Doing so makes an employee sound disingenuous, the researchers wrote.<br /> (http://blogs.wsj.com/atwork)<br /> </p>', 'published' => true, 'created' => '2013-10-07', '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 next time you’re in a meeting and want to get people on your side, just say ‘yeah.’ New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.', 'sortorder' => '1798', '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' => '1939', 'article_category_id' => '151', 'title' => 'Day Long Workshop By V.S. Niketan', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation. Some experts of management from different sectors were also present in the programme who shared their opinions to the programme.<br /> <br /> KFA School of Management, Quest International College, Kathmandu College of Management and V.S Niketan College actively participated and presented their respective papers on various emerging issues of the nation like- ‘Brain Drain’, ‘Conflict Management’, ‘Crisis Management’ and ‘Banking Mergers’. The programme had three phases- inauguration, paper presentation, and group discussion.<br /> <br /> This workshop programme was supported by the sponsors- Nepal Bank Ltd., Everest Bank Ltd., Sunrise Press, Buddha Publication, and Distributers and the official media partners ‘The Corporate Weekly’ and Radio Shepherd 88.4 MHz. Kathford College won the first prize of the best presenter team. Neekita Sinnya from KFA School of Management won the honour and prize of the best presenter of the one-day long workshop.</p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation.', 'sortorder' => '1797', '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' => '1938', 'article_category_id' => '160', 'title' => 'Corptoon Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Corptoon', 'sortorder' => '1796', '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' => '1937', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Viausl Edit', 'sortorder' => '1795', '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' => '1936', 'article_category_id' => '105', 'title' => 'Real Leader In The Making', 'sub_title' => '', 'summary' => null, 'content' => '<div> The son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman. If he takes the book of Geeta, he will be a spiritual Guru, if it’s the bottle of Royal Stag, he will be a drunkard and a waster, and if he picks up the knife he is going to be a Don.</div> <div> </div> <div> Both of them waited behind the curtain and watched. As the son walked in, he noticed the four items on the table. He opened the bottle of whiskey and took a long swig, he pocketed the wand of rupees, put the knife on the back pocket and the Geeta, under his arm and calmly walked away.</div> <div> </div> <div> The father was excited. ‘Wow’, said the father, ‘he is going to be the real leader’. –ML</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman.', 'sortorder' => '1794', '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' => '1935', 'article_category_id' => '144', 'title' => 'Happy Dashain', 'sub_title' => '', 'summary' => null, 'content' => '<div> The festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.</div> <div> </div> <div> The only difference this time around might be for the political parties who will, no doubt, be campaigning even during the festival. Dashain is a golden chance for the candidates contesting in the upcoming Constituent Assembly (CA) election to connect directly with voters and convience them into their ideology and agenda by giving coveted gifts in return. Equally, people can take advantage of their advances by placing their queries and judging the efficiency of the candidates.</div> <div> </div> <div> Politics aside, there are many good aspects of Dashain as well as some bad practices. It is really difficult to celebrate Dashain for low-income families. Increasing inflation and lack of employment opportunities have hit the middle class population of the country. The culture of imitating others in celebrating Dashain will compel lower-income families to take loans. May this season bring some respite to all families living in acute poverty.</div> <div> </div> <div> Better off citizens should be aware of the social pressures unconsciously exerted upon others and be careful to celebrate responsibly. Excessive use of alcohol may create tension among neighbours and it should be avoided. People should also be alert regarding adulteration in food products and the possible compromises in hygiene during this period of high demand in traditional foods. The security agencies and government’s quality control mechanisms also should be careful to safeguard the people’s right to consume healthy food. Dashain being a festival that symbolises the victory of truth over evil, may this season bring conscience in business practices and the government’s responsibility.</div> <div> </div> <div> Dashain also acts as a social glue in our increasingly busy society. People observe the tika receiving ceremony as an opportunity to resume broken relations with their relatives and friends. The festival gives immense opportunity for relatives living abroad to come together as well. May this Dashain bring prosperity and joy to you and your family. Happy Dashain to all our readers!</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.', 'sortorder' => '1793', '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' => '1934', 'article_category_id' => '145', 'title' => 'The West Seti Hydro Project A New Model Of People-Private-Public-Partnership?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madhukar SJB Rana</strong></div> <div> </div> <div> For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.</div> <div> </div> <div> The project was a PPP project with SMEC providing 10 per cent of the power generated, or its equivalent in cash, to the Government of Nepal and exporting 90 per cent of the energy generated to India at a price of USD 4.86 per KWe under the Power Trade Agreement signed with the Power Trading Corporation (India). </div> <div> </div> <div> Under the BOOT model, the company was to transfer the ownership to Nepal after 25 years from the start of operations. In the wake of the acute power shortage in Nepal where the country has to suffer 12-14 hours of power outage in winter, it is not surprising that the people, both local and national, were opposed to such an export-oriented project. People also questioned the sheer lack of consideration for the full use of the water being damned for irrigation. </div> <div> </div> <div> Enter the China Three Gorges Corporation (CTGC), after which the West Seti Project may see the light of day. Let us hope that the CTGC takes this up as a 100 per cent FDI as it has the technology (the corporation has installed more than 20,300 MW thus far) as well as the management and financial capacity to execute it on a turnkey basis – once the selling price is settled. However, the project implementation will depend critically on issues over (a) land acquisition, (b) resettlement of the affected people,(c) construction of a transmission line to feed energy generated into the national grid and (d) learning from the mistakes of SMEC for failing to genuinely participate with the local VDC s and local communities.</div> <div> </div> <div> The project will provide immense benefits to the Far West Region comprising Baitadi, Bajhang, Doti and Dadeldhura districts – provided it is taken up as a People-Private-Public-Partnership (4Ps, not 3Ps) project where land acquisition is fairly and amicably done and the 16,000 plus people comprising 2125 plus households in the 20 VDCs get to be beneficiaries without having to be resettled elsewhere in the Tarai (Bardia, Kailali and Kanchanpur) – an ecological region totally alien to the locals’ lifestyle. In 2008, the Constituent Assembly MPs estimated that only around 20 per cent of the land is government owned and, further, that 1393 households involving 12,000 people would have to be relocated.</div> <div> </div> <div> A turnkey basis is suggested in order to get over the hassle of multiple financiers as was faced by SMEC. It may be noted here that the SMEC venture was originally to be completed in 2005.It then moved forward to 2012! Now, with the CTGC, the project is expected to be operational by 2021. The CTGC cost is estimated at around $1.7 billion. A turnkey project would free Nepal of the burden of cost over runs and delays and, more so, all manner of hidden transaction costs as payoffs to ever changing governments, politicians and bureaucrats. Should Nepal opt for federalism, the matter will be even more compounded by issues over jurisdiction and authority. Hence turnkey is the need of the hour. The next issue is under what model: BO; BOO or BOOT? How long should the contract be stipulated for? It is suggested that this be kept open depending on the PPPP project appraisal that should, ideally, seek a win-win for all stakeholders while sharing risks equitably. It needs be underscored here that China may, in the process, also come forth with a new model of development diplomacy based on the emerging concept of aid for trade.</div> <div> </div> <div> Space limits this discussion. Suffice to say that the 4th P can be incorporated by assessing the possibilities of transformation of the project area and its households by assessing possible local development opportunities over the life span of the CTGC project. The idea is simple: the area as well as the local people should benefit with the CTGC providing a new vision of social transformation, as partners, over the optimal life span of the project. This would require financial as well as economic appraisal of the project along with risk assessments and consideration of what fiscal, financial, monetary, land and infrastructure policies and programme support may be required from the local and central governments. Participatory Action Research (PAR, not simply PRA) should be engaged in to decipher the people’s wishes, desires, dreams and capacities. </div> <div> </div> <div> To conclude: ADB and Electricite de France, a French utility company, completed a 1070 MW Hydro Project in Laos where 6000 displaced villagers in 17 villages were successfully resettled into new homes along with legal grant of new plots of land and technical assistance in farming. Payments of due compensation to 18,000 villagers indirectly affected, situated in 92 villages, were provided in the form of assistance in agriculture, horticulture, fisheries, livestock, forestry and off-farm activities to include vocational and entrepreneurial skill training. Another 67 villages, lying adjacent to these 92 villages, got better access to education and health along with some cash compensation. </div> <div> </div> <div> The 4P model proposed here seeks all of the above plus more —it incorporates financial, fiscal, monetary and land acquisition terms and conditions into the model and decides on the precise nature of the partnership model-- and its duration-- only after due consideration of risks, financial and economic costs and benefits to all stakeholders. It goes way beyond the current royalty cum BOOT model that is standard fare to any and all projects which are in dire need of innovation on a case by case basis. </div> <div> (The Writer is a former Finance Minister and Professor at the South Asian Institute of Management.)</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', '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' => 'For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.', 'sortorder' => '1792', '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' => '1933', 'article_category_id' => '140', 'title' => 'Weekly Round-UP (30 September - 6 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<ul> <li> In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system. Businessmen can now register their company at the service centre established at the district by district chambers of commerce and industry. The service centre will provide the service of company registration and renewal. Representatives of the private sector have hailed the agreement saying that this public-private partnership could ease their process for company registration.</li> </ul> <div> </div> <ul> <li> The government has paved the way for Nepal Telecom (NT), a public entity, to bring in a strategic partner. The meeting of the Council of Ministers has cleared the decks for the government to sell a part of its stock in NT to the prospective strategic partner. Though the government has not decided the number of shares to be sold to the prospective partner, a technical committee formed last year had recommended the government to sell 30 per cent of its shares to such partner. Now, with the government’s nod, NT will hire a consultant firm to prepare bid documents for finding a new strategic partner. Officials at the Ministry of Finance say that a recommendation made by the technical committee will be considered while developing standards for the prospective strategic partner. Amid stiff competition posed with the entry of private telecommunication service providers in the market, the new strategic partner for the state entity is expected to provide some external stimulus to drive the company forward.</li> </ul> <div> </div> <ul> <li> Data has shown that the contribution of the financial sector to the Gross Domestic Product (GDP) of the country has remained constant for the last seven years. Though there has been a rise in the numbers of banks, banking access, deposit and loan amounts, the total contribution to the GDP each year since Fiscal Year 2006-07 to FY 2012-13 has remained around four per cent only. Stakeholders attribute the lack of investment friendly climate, political instability and investment areas, among others, behind such lackluster performance of the financial sector towards contributing to the GDP. This situation, economic analysts say, is very unfortunate for Nepal despite the possibility of it being an international financial hub.</li> </ul> <div> </div> <ul> <li> The Inland Revenue Department (IRD) has intensified the monitoring of the issuance of VAT bills against the backdrop of the Dashain festival. Though the IRD campaign to inspect the market in a bid to encourage customers and business firms to ask and issue VAT bills while buying goods and services is positive, the monitoring of the market on the eve of the festive seasons alone cannot ensure the full-practice of issuing a VAT bill. IRD had inspected 15,000 business enterprises last year during the Dashain festival, while it plans to monitor 20,000 business firms this year. This number is small among the total number of business firms in Nepal. Thus, analysts call for the widening of inspection in order to help plug revenue leakage.</li> </ul> <div> </div> <ul> <li> As the Constituent Assembly election date scheduled for November 19 approaches nearer, the donation drive of political parties is causing terror in the business community. Political parties and their election candidates are searching for businessmen to manage the funds they need to contest for the polls. The problem has become so serious that many businessmen have now stopped answering phone calls from unknown numbers while other are changing their numbers frequently to avoid demands for donation. Businessmen have become a primary source for exorbitant donations mostly during the election. </li> </ul> <div> </div> <ul> <li> Despite Nepal’s better economic prospects, India’s economic slowdown could hinder Nepal’s economic performance, according to a prediction by the International Monetary Fund (IMF). The effect of the India’s slowdown will also have an adverse impact in the financial sector as well as the overall economy. The IMF has recommended concerned authorities to tighten the monetary condition to reduce the gap between the interest rates in the two countries.</li> </ul>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system.', 'sortorder' => '1791', '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' => '1932', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Election Inevitable: Gachhadar</strong></span></div> <div> Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Rae Stresses Political Stability</strong></span></div> <div> India wants political stability in Nepal as it will have direct benefits to the Indian government and the Indian citizens, says Indian Ambassador to Nepal Ranjit Rae. He added that political stability will also open up the door to economic development. Speaking at a programme organized by the Nepal-India Friendship Association to welcome the newly-appointed Indian Ambassador in the capital last Monday, Rae said that India was ready to extend full support for Nepal’s economic development. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Regmi’s Nay to Resign CJ Post</strong></span></div> <div> Chairman of Interim Election Council Khil Raj Regmi has said that there are not any circumstances that can prevent the government from holding the Constituent Assembly polls on November 19. Speaking with journalists at Tribhuvan International Airport upon his arrival from New York last Tuesday, Regmi claimed that his government will hold the CA polls on the stipulated date. He also ruled out possibility of his resignation from the post of Chief Justice. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Adhikari’s Murder Accused Released</strong></span></div> <div> Chitwan Police has released Ram Prasad Adhikari, one of the accused of the murder of Krishna Prashad Adhikari of Phujel in Gorkha, last Monday (September 30) following a directive of the District Attorney’s Office. He was nabbed from Kathmandu a month ago and sent to Chitwan, where he was kept in detention and charged with murder. According to Chitwan Police Office, Adhikari was released after the police received a letter from the attorney’s office stating that he could not be prosecuted at the court due to lack of sufficient evidence.</div> <div> </div> <div> <span style="font-size:14px;"><strong>JC fails to appoint SC judges</strong></span></div> <div> The meeting of the Judicial Council (JC) held last Thursday could not appoint the judges at the Supreme Court (SC). According to an official at the JC, the meeting did not take any decision regarding the appointment of the judges. A source inside the JC said that the tussle between the Acting Chief Damodar Prasad Sharma and other JC members led to the indecision. Currently, there are 14 vacant posts for justices in the SC, out of which nine are permanent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Apex court stays decision to recall envoy Sharma</strong></span></div> <div> Supreme Court (SC) has directed the government to not implement its decision to recall the Nepali Ambassador in Qatar Maya Kumari Sharma. A bench of Justice Prakash Wasti directed the government last Friday not to appoint a new ambassador to Qatar until the issue was finalized on whether or not an interim order was required. Ambassador Sharma had filed a writ petition last Monday challenging the government decision to recall her from the post.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Notorious gangster Lama released on bail</strong></span></div> <div> Notorious gangster Ganesh Lama was released from jail last Friday, a day after filing his nomination for the upcoming Constituent Assembly polls from Kavre-2. Lama was released after posting a bail amount of Rs 30 million at the Special Court. Earlier on July 13, he was sent to jail by the Special Court after he failed to submit the bail amount. He has been charged by the Department of Money Laundering Investigation for amassing Rs 270 million through extortion, illegal contracts and banking transactions, among other illegal activities.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed.', 'sortorder' => '1790', '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' => '1931', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief ( 7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>StanChart’s Students Scholarship Project</strong></span></div> <div> Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday. CEO of the bank Joseph Silvanus gave away the scholarships at a function organised at the school. The bank has been providing scholarships to 15 deserving students of the school since 2002.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kathmandu University Celebrates 22nd Annual Day</strong></span></div> <div> Kathmandu University organized a special programme on September 25 to mark its 22nd Annual Day in the CV Raman Hall of the principal campus. A group of faculties, staffs and students organized a cultural programme to mark the occasion. Among the dignitaries to grace the occasion were Prof. Dr. Bhala Thapa, the Registrar, Prof. Dr. Suresh Raj Sharma, Founder Vice Chancellor, Prof. Dr. Sitaram Adhikari, Founder Registrar, and Mr. Bel Prasad Shrestha, member of the Board of Trustees. The deans and associate deans, directors, heads and coordinators, faculties and staffs of different schools attended the programme. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL Provides Financial Aid to Kathmandu University</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has extended its CSR activities in the field of education. The bank has contributed Rs 1 million to Kathmandu University (KU). The amount is to support KU’s Turbine Testing Lab for the purpose of education, research and development which will also aid the development of indigenous industries. KU has also entered into a technical cooperation with Norwegian University of Science and Technology (NTNU)/ Waterpower Land. It will be the first and only turbine testing laboratory in Asia. </div> <div> </div> <div> <span style="font-size:14px;"><strong>TU B.Ed, IA and I.Ed Results Out</strong></span></div> <div> Tribhuvan University Office of the Controller of Examination published the Results of B.Ed second year and IA 2nd year on 27 September. The exam of B.Ed 2nd year was held on Poush-Magh 2067 and the exam of IA 2nd year was held on Jestha-Ashad 2068. Similarly, TU also published the results of I.Ed second year (Back/Chance) on September 30, 2013. The exam of I.Ed second year was held on Ashad-Sharwan 2070. All results can be accessed at www.edusanjal.com.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Robotics Meet Concludes </strong></span></div> <div> Karkhana and Robotics Association organized Yantra 2.0’, a robotics competition at Dasarath Stadium on October 1. Around 217 participants from various cities of Nepal such as Pokhara, Chitwan, Biratnagar and Syangja took part in the competition. Students from secondary and high secondary school students also took </div> <div> part in the competition. Three major parts of the events were ‘Mission Nepal’, ‘Robo Akhada’ and ‘Robo Racer’. 3D printer was the attraction </div> <div> of the programme for visitors.</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday.', 'sortorder' => '1789', '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' => '1930', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NCM Merchant Appointed Yeti’s Share Registrar </strong></span></div> <div> NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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' => '1944', 'article_category_id' => '109', 'title' => 'INFICare Introduces ‘POSCASH’', 'sub_title' => '', 'summary' => null, 'content' => '<div> INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.</div> <div> </div> <div> Issuing a press release, INFICare said that to use this service, an SCT Card holder customer should visit POSCash’s appointed merchant along with his/her SCT card and PINNO with a passport-size photo and a valid ID Card</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.', 'sortorder' => '1802', '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' => '1943', 'article_category_id' => '109', 'title' => '13bn Bid For 10bn Reverse Repo', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period. The NRB has said it has fixed 0.542 per cent weighted average discount rate for the reverse repo this time. The bank had already absorbed Rs 43.50 billion from the financial system by holding four reverse repos and one outright sale auction within a month.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period.', 'sortorder' => '1801', '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' => '1942', 'article_category_id' => '109', 'title' => 'Chilime’s 295pc Cash, 100pc Stock Dividend In 10yrs', 'sub_title' => '', 'summary' => null, 'content' => '<div> Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal. “We are building four hydropower projects in four years of 270.3 megawatt total capacity,” he said, adding that the company could distribute additional dividend after the completion of the projects. According to the company, it has already managed the fund for these projects. </div> <div> </div> <div> The AGM also endorsed the proposal to distribute 30 per cent bonus shares and 10 per cent cash dividend this year. “We have decided to distribute the bonus to manage funds from shareholders for upcoming projects,” he said. The company has said it will increase its paid-up capital by distributing bonus shares every year. The company has Rs 1.75 billion as paid-up capital until the Fiscal Year 2012-13. With the distribution of 30 per cent bonus shares, the paid-up capital reaches Rs 2.30 billion. </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal.', 'sortorder' => '1800', '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' => '1941', 'article_category_id' => '155', 'title' => '‘CA Is A Subject To Study With Hard Work And Self Confidence’', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size:14px;"><img alt="Paramananda Adhikari" src="/userfiles/images/jv.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 250px; height: 329px;" />Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme. This week, The Corporate’s <strong>Pradip Adhikari</strong> spoke to <strong>Paramananda Adhikari</strong>, Technical Director, ICAN (Institute of Chartered Accountants of Nepal), to find answers to some frequently asked questions.<strong> Excerpts:</strong></span><br /> <br /> <span style="font-size:14px;"><strong>What kind of course is Chartered Accountancy?</strong></span><br /> Chartered Accountancy (CA) is a professional course. Lately students’ attraction towards CA has been increasing. The CA profession is now as respected as the Doctor and Engineer profession in national and international markets.<br /> <br /> <span style="font-size:14px;"><strong>What are the criteria to study the subject?</strong></span><br /> CA is studied in three phases: CAP 1, CAP 2 and CAP 3. CAP 1 is the first phase. Plus two graduates can get admission to the CAP 1 phase and students who have passed CAP 1 are eligible for CAP 2. Similarly, undergraduate and graduate students who have secured above 50 per cent can also get admission in CAP 2. CAP 3 can be studied only after passing CAP 2.<br /> <br /> <span style="font-size:14px;"><strong>What would you like to suggest to the students willing to study CA?</strong></span><br /> CA is a subject to study with hard-work and self-confidence. The course is not that difficult but one should be determined enough to study it. CA shouldn’t be taken lightly. The income of a Chartered Accountant is higher compared to that of other occupations. As Nepal is a developing country, there are lots of opportunities in this field and its scope is high in the international market too.<br /> <br /> <span style="font-size:14px;"><strong>How much does it cost to study CA?</strong></span><br /> The course costs Rs 90 thousand for all 3 levels combined. Besides that, there are fees for coaching classes. Coaching classes are run by institutes affiliated to ICAN. Every institute charges differently. It is up to students to choose what is best for them. CA is a course where one can earn while studying too. Thus, the investment can be recovered while studying.<br /> <br /> <span style="font-size:14px;"><strong>What is the difference between the Chartered Accountancy (CA) courses available in Nepal and those available in other countries?</strong></span><br /> The CA courses are similar around the world. There is no difference between those offered in Nepal, USA, South Africa or any other nation. As India has a big market and a similar culture to Nepal, Nepali students are attracted to studying CA in India. It is believed that degrees from Indian Universities are acclaimed. However, this is not true. Students who have got a degree from India have to give an exam in Nepal as well. In my point of view, since students have to return back to their own country after completing their studies, there is no difference between getting a degree from India or from Nepal.<br /> <br /> <span style="font-size:14px;"><strong>How has ICAN been helping students of CA in Nepal?</strong></span><br /> We have been helping students at various levels. We provide them counseling, revision tests, library facility, crash courses and so on. We also provide 50 per cent scholarship to the needy and meritorious students. ICAN provides scholarship to about 30 students each year. Around 140 students have received scholarships from ICAN till date. We have been sending students to various countries through students exchange programmes as well.<br /> <br /> <span style="font-size:14px;"><strong>What kinds of courses are accommodated in a CA programme?</strong></span><br /> We have attempted to accommodate courses that are directly or indirectly related with the CA profession. Mostly, accounting, auditing, corporate law and taxation are included in the course. Some courses that have direct relation with CA profession such as information technology and business management are also incorporated. <br /> <br /> <span style="font-size:14px;"><strong>What is the examination procedure in a CA course?</strong></span><br /> CA has the most simple examination system. The examination is conducted twice a year in December and June. Cap 1 has three major subjects that need to be passed in a single attempt. Cap2 has two major subjects and that can be passed within two attempts. Students must score 50 per cent marks in an average. However, the pass mark is 40. If a student scores 40, 50 and 60 in the first, second and the third subjects, respectively, the student will have passed the examination.<br /> </p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme.', 'sortorder' => '1799', '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' => '1940', 'article_category_id' => '156', 'title' => 'To Master Your Next Meeting, Just Say ‘Yeah’', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> <strong>--By Rachel Emma Silverman</strong></p> <p> The next time you’re in a meeting and want to get people on your side, just say ‘yeah.’<br /> <br /> New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.<br /> <br /> Researchers Cynthia Rudin and Been Kim, a statistics professor and graduate student, respectively, at MIT’s Sloan School of Management , analyzed vocabulary usage and dialogue patterns in 95 meetings to see which words appeared to sway colleagues most.<br /> <br /> Among the words most likely to result in accepted proposals: ‘Yeah,’ ‘give,’ ‘start,’<br /> and ‘discuss.’<br /> <br /> While ‘yeah’ may seem like an odd candidate for a persuasive word, it may have currency because it signals agreement with what others have previously said. Framing a suggestion as if it were an agreement, rather than a conflict, may win favor more easily in a group, according to Dr. Rudin.<br /> <br /> Some words turned out to be good for steering colleagues away from a topic. ‘meeting’ was particularly effective when the speaker’s proposal aimed to halt discussion of a particular issue, as in “maybe this is something for the next meeting.” Those suggestions were almost always accepted, the researchers found.<br /> <br /> ‘Discuss’ was used in a similar fashion, to suggest how a meeting should be organized, as in ‘Maybe we should discuss this further.’<br /> <br /> The researchers also tried to identify standard dialogue patterns in meetings, and found employees rarely offered compliments after negative assessments. Doing so makes an employee sound disingenuous, the researchers wrote.<br /> (http://blogs.wsj.com/atwork)<br /> </p>', 'published' => true, 'created' => '2013-10-07', '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 next time you’re in a meeting and want to get people on your side, just say ‘yeah.’ New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.', 'sortorder' => '1798', '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' => '1939', 'article_category_id' => '151', 'title' => 'Day Long Workshop By V.S. Niketan', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation. Some experts of management from different sectors were also present in the programme who shared their opinions to the programme.<br /> <br /> KFA School of Management, Quest International College, Kathmandu College of Management and V.S Niketan College actively participated and presented their respective papers on various emerging issues of the nation like- ‘Brain Drain’, ‘Conflict Management’, ‘Crisis Management’ and ‘Banking Mergers’. The programme had three phases- inauguration, paper presentation, and group discussion.<br /> <br /> This workshop programme was supported by the sponsors- Nepal Bank Ltd., Everest Bank Ltd., Sunrise Press, Buddha Publication, and Distributers and the official media partners ‘The Corporate Weekly’ and Radio Shepherd 88.4 MHz. Kathford College won the first prize of the best presenter team. Neekita Sinnya from KFA School of Management won the honour and prize of the best presenter of the one-day long workshop.</p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation.', 'sortorder' => '1797', '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' => '1938', 'article_category_id' => '160', 'title' => 'Corptoon Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Corptoon', 'sortorder' => '1796', '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' => '1937', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Viausl Edit', 'sortorder' => '1795', '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' => '1936', 'article_category_id' => '105', 'title' => 'Real Leader In The Making', 'sub_title' => '', 'summary' => null, 'content' => '<div> The son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman. If he takes the book of Geeta, he will be a spiritual Guru, if it’s the bottle of Royal Stag, he will be a drunkard and a waster, and if he picks up the knife he is going to be a Don.</div> <div> </div> <div> Both of them waited behind the curtain and watched. As the son walked in, he noticed the four items on the table. He opened the bottle of whiskey and took a long swig, he pocketed the wand of rupees, put the knife on the back pocket and the Geeta, under his arm and calmly walked away.</div> <div> </div> <div> The father was excited. ‘Wow’, said the father, ‘he is going to be the real leader’. –ML</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman.', 'sortorder' => '1794', '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' => '1935', 'article_category_id' => '144', 'title' => 'Happy Dashain', 'sub_title' => '', 'summary' => null, 'content' => '<div> The festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.</div> <div> </div> <div> The only difference this time around might be for the political parties who will, no doubt, be campaigning even during the festival. Dashain is a golden chance for the candidates contesting in the upcoming Constituent Assembly (CA) election to connect directly with voters and convience them into their ideology and agenda by giving coveted gifts in return. Equally, people can take advantage of their advances by placing their queries and judging the efficiency of the candidates.</div> <div> </div> <div> Politics aside, there are many good aspects of Dashain as well as some bad practices. It is really difficult to celebrate Dashain for low-income families. Increasing inflation and lack of employment opportunities have hit the middle class population of the country. The culture of imitating others in celebrating Dashain will compel lower-income families to take loans. May this season bring some respite to all families living in acute poverty.</div> <div> </div> <div> Better off citizens should be aware of the social pressures unconsciously exerted upon others and be careful to celebrate responsibly. Excessive use of alcohol may create tension among neighbours and it should be avoided. People should also be alert regarding adulteration in food products and the possible compromises in hygiene during this period of high demand in traditional foods. The security agencies and government’s quality control mechanisms also should be careful to safeguard the people’s right to consume healthy food. Dashain being a festival that symbolises the victory of truth over evil, may this season bring conscience in business practices and the government’s responsibility.</div> <div> </div> <div> Dashain also acts as a social glue in our increasingly busy society. People observe the tika receiving ceremony as an opportunity to resume broken relations with their relatives and friends. The festival gives immense opportunity for relatives living abroad to come together as well. May this Dashain bring prosperity and joy to you and your family. Happy Dashain to all our readers!</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.', 'sortorder' => '1793', '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' => '1934', 'article_category_id' => '145', 'title' => 'The West Seti Hydro Project A New Model Of People-Private-Public-Partnership?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madhukar SJB Rana</strong></div> <div> </div> <div> For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.</div> <div> </div> <div> The project was a PPP project with SMEC providing 10 per cent of the power generated, or its equivalent in cash, to the Government of Nepal and exporting 90 per cent of the energy generated to India at a price of USD 4.86 per KWe under the Power Trade Agreement signed with the Power Trading Corporation (India). </div> <div> </div> <div> Under the BOOT model, the company was to transfer the ownership to Nepal after 25 years from the start of operations. In the wake of the acute power shortage in Nepal where the country has to suffer 12-14 hours of power outage in winter, it is not surprising that the people, both local and national, were opposed to such an export-oriented project. People also questioned the sheer lack of consideration for the full use of the water being damned for irrigation. </div> <div> </div> <div> Enter the China Three Gorges Corporation (CTGC), after which the West Seti Project may see the light of day. Let us hope that the CTGC takes this up as a 100 per cent FDI as it has the technology (the corporation has installed more than 20,300 MW thus far) as well as the management and financial capacity to execute it on a turnkey basis – once the selling price is settled. However, the project implementation will depend critically on issues over (a) land acquisition, (b) resettlement of the affected people,(c) construction of a transmission line to feed energy generated into the national grid and (d) learning from the mistakes of SMEC for failing to genuinely participate with the local VDC s and local communities.</div> <div> </div> <div> The project will provide immense benefits to the Far West Region comprising Baitadi, Bajhang, Doti and Dadeldhura districts – provided it is taken up as a People-Private-Public-Partnership (4Ps, not 3Ps) project where land acquisition is fairly and amicably done and the 16,000 plus people comprising 2125 plus households in the 20 VDCs get to be beneficiaries without having to be resettled elsewhere in the Tarai (Bardia, Kailali and Kanchanpur) – an ecological region totally alien to the locals’ lifestyle. In 2008, the Constituent Assembly MPs estimated that only around 20 per cent of the land is government owned and, further, that 1393 households involving 12,000 people would have to be relocated.</div> <div> </div> <div> A turnkey basis is suggested in order to get over the hassle of multiple financiers as was faced by SMEC. It may be noted here that the SMEC venture was originally to be completed in 2005.It then moved forward to 2012! Now, with the CTGC, the project is expected to be operational by 2021. The CTGC cost is estimated at around $1.7 billion. A turnkey project would free Nepal of the burden of cost over runs and delays and, more so, all manner of hidden transaction costs as payoffs to ever changing governments, politicians and bureaucrats. Should Nepal opt for federalism, the matter will be even more compounded by issues over jurisdiction and authority. Hence turnkey is the need of the hour. The next issue is under what model: BO; BOO or BOOT? How long should the contract be stipulated for? It is suggested that this be kept open depending on the PPPP project appraisal that should, ideally, seek a win-win for all stakeholders while sharing risks equitably. It needs be underscored here that China may, in the process, also come forth with a new model of development diplomacy based on the emerging concept of aid for trade.</div> <div> </div> <div> Space limits this discussion. Suffice to say that the 4th P can be incorporated by assessing the possibilities of transformation of the project area and its households by assessing possible local development opportunities over the life span of the CTGC project. The idea is simple: the area as well as the local people should benefit with the CTGC providing a new vision of social transformation, as partners, over the optimal life span of the project. This would require financial as well as economic appraisal of the project along with risk assessments and consideration of what fiscal, financial, monetary, land and infrastructure policies and programme support may be required from the local and central governments. Participatory Action Research (PAR, not simply PRA) should be engaged in to decipher the people’s wishes, desires, dreams and capacities. </div> <div> </div> <div> To conclude: ADB and Electricite de France, a French utility company, completed a 1070 MW Hydro Project in Laos where 6000 displaced villagers in 17 villages were successfully resettled into new homes along with legal grant of new plots of land and technical assistance in farming. Payments of due compensation to 18,000 villagers indirectly affected, situated in 92 villages, were provided in the form of assistance in agriculture, horticulture, fisheries, livestock, forestry and off-farm activities to include vocational and entrepreneurial skill training. Another 67 villages, lying adjacent to these 92 villages, got better access to education and health along with some cash compensation. </div> <div> </div> <div> The 4P model proposed here seeks all of the above plus more —it incorporates financial, fiscal, monetary and land acquisition terms and conditions into the model and decides on the precise nature of the partnership model-- and its duration-- only after due consideration of risks, financial and economic costs and benefits to all stakeholders. It goes way beyond the current royalty cum BOOT model that is standard fare to any and all projects which are in dire need of innovation on a case by case basis. </div> <div> (The Writer is a former Finance Minister and Professor at the South Asian Institute of Management.)</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', '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' => 'For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.', 'sortorder' => '1792', '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' => '1933', 'article_category_id' => '140', 'title' => 'Weekly Round-UP (30 September - 6 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<ul> <li> In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system. Businessmen can now register their company at the service centre established at the district by district chambers of commerce and industry. The service centre will provide the service of company registration and renewal. Representatives of the private sector have hailed the agreement saying that this public-private partnership could ease their process for company registration.</li> </ul> <div> </div> <ul> <li> The government has paved the way for Nepal Telecom (NT), a public entity, to bring in a strategic partner. The meeting of the Council of Ministers has cleared the decks for the government to sell a part of its stock in NT to the prospective strategic partner. Though the government has not decided the number of shares to be sold to the prospective partner, a technical committee formed last year had recommended the government to sell 30 per cent of its shares to such partner. Now, with the government’s nod, NT will hire a consultant firm to prepare bid documents for finding a new strategic partner. Officials at the Ministry of Finance say that a recommendation made by the technical committee will be considered while developing standards for the prospective strategic partner. Amid stiff competition posed with the entry of private telecommunication service providers in the market, the new strategic partner for the state entity is expected to provide some external stimulus to drive the company forward.</li> </ul> <div> </div> <ul> <li> Data has shown that the contribution of the financial sector to the Gross Domestic Product (GDP) of the country has remained constant for the last seven years. Though there has been a rise in the numbers of banks, banking access, deposit and loan amounts, the total contribution to the GDP each year since Fiscal Year 2006-07 to FY 2012-13 has remained around four per cent only. Stakeholders attribute the lack of investment friendly climate, political instability and investment areas, among others, behind such lackluster performance of the financial sector towards contributing to the GDP. This situation, economic analysts say, is very unfortunate for Nepal despite the possibility of it being an international financial hub.</li> </ul> <div> </div> <ul> <li> The Inland Revenue Department (IRD) has intensified the monitoring of the issuance of VAT bills against the backdrop of the Dashain festival. Though the IRD campaign to inspect the market in a bid to encourage customers and business firms to ask and issue VAT bills while buying goods and services is positive, the monitoring of the market on the eve of the festive seasons alone cannot ensure the full-practice of issuing a VAT bill. IRD had inspected 15,000 business enterprises last year during the Dashain festival, while it plans to monitor 20,000 business firms this year. This number is small among the total number of business firms in Nepal. Thus, analysts call for the widening of inspection in order to help plug revenue leakage.</li> </ul> <div> </div> <ul> <li> As the Constituent Assembly election date scheduled for November 19 approaches nearer, the donation drive of political parties is causing terror in the business community. Political parties and their election candidates are searching for businessmen to manage the funds they need to contest for the polls. The problem has become so serious that many businessmen have now stopped answering phone calls from unknown numbers while other are changing their numbers frequently to avoid demands for donation. Businessmen have become a primary source for exorbitant donations mostly during the election. </li> </ul> <div> </div> <ul> <li> Despite Nepal’s better economic prospects, India’s economic slowdown could hinder Nepal’s economic performance, according to a prediction by the International Monetary Fund (IMF). The effect of the India’s slowdown will also have an adverse impact in the financial sector as well as the overall economy. The IMF has recommended concerned authorities to tighten the monetary condition to reduce the gap between the interest rates in the two countries.</li> </ul>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system.', 'sortorder' => '1791', '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' => '1932', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Election Inevitable: Gachhadar</strong></span></div> <div> Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Rae Stresses Political Stability</strong></span></div> <div> India wants political stability in Nepal as it will have direct benefits to the Indian government and the Indian citizens, says Indian Ambassador to Nepal Ranjit Rae. He added that political stability will also open up the door to economic development. Speaking at a programme organized by the Nepal-India Friendship Association to welcome the newly-appointed Indian Ambassador in the capital last Monday, Rae said that India was ready to extend full support for Nepal’s economic development. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Regmi’s Nay to Resign CJ Post</strong></span></div> <div> Chairman of Interim Election Council Khil Raj Regmi has said that there are not any circumstances that can prevent the government from holding the Constituent Assembly polls on November 19. Speaking with journalists at Tribhuvan International Airport upon his arrival from New York last Tuesday, Regmi claimed that his government will hold the CA polls on the stipulated date. He also ruled out possibility of his resignation from the post of Chief Justice. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Adhikari’s Murder Accused Released</strong></span></div> <div> Chitwan Police has released Ram Prasad Adhikari, one of the accused of the murder of Krishna Prashad Adhikari of Phujel in Gorkha, last Monday (September 30) following a directive of the District Attorney’s Office. He was nabbed from Kathmandu a month ago and sent to Chitwan, where he was kept in detention and charged with murder. According to Chitwan Police Office, Adhikari was released after the police received a letter from the attorney’s office stating that he could not be prosecuted at the court due to lack of sufficient evidence.</div> <div> </div> <div> <span style="font-size:14px;"><strong>JC fails to appoint SC judges</strong></span></div> <div> The meeting of the Judicial Council (JC) held last Thursday could not appoint the judges at the Supreme Court (SC). According to an official at the JC, the meeting did not take any decision regarding the appointment of the judges. A source inside the JC said that the tussle between the Acting Chief Damodar Prasad Sharma and other JC members led to the indecision. Currently, there are 14 vacant posts for justices in the SC, out of which nine are permanent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Apex court stays decision to recall envoy Sharma</strong></span></div> <div> Supreme Court (SC) has directed the government to not implement its decision to recall the Nepali Ambassador in Qatar Maya Kumari Sharma. A bench of Justice Prakash Wasti directed the government last Friday not to appoint a new ambassador to Qatar until the issue was finalized on whether or not an interim order was required. Ambassador Sharma had filed a writ petition last Monday challenging the government decision to recall her from the post.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Notorious gangster Lama released on bail</strong></span></div> <div> Notorious gangster Ganesh Lama was released from jail last Friday, a day after filing his nomination for the upcoming Constituent Assembly polls from Kavre-2. Lama was released after posting a bail amount of Rs 30 million at the Special Court. Earlier on July 13, he was sent to jail by the Special Court after he failed to submit the bail amount. He has been charged by the Department of Money Laundering Investigation for amassing Rs 270 million through extortion, illegal contracts and banking transactions, among other illegal activities.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed.', 'sortorder' => '1790', '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' => '1931', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief ( 7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>StanChart’s Students Scholarship Project</strong></span></div> <div> Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday. CEO of the bank Joseph Silvanus gave away the scholarships at a function organised at the school. The bank has been providing scholarships to 15 deserving students of the school since 2002.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kathmandu University Celebrates 22nd Annual Day</strong></span></div> <div> Kathmandu University organized a special programme on September 25 to mark its 22nd Annual Day in the CV Raman Hall of the principal campus. A group of faculties, staffs and students organized a cultural programme to mark the occasion. Among the dignitaries to grace the occasion were Prof. Dr. Bhala Thapa, the Registrar, Prof. Dr. Suresh Raj Sharma, Founder Vice Chancellor, Prof. Dr. Sitaram Adhikari, Founder Registrar, and Mr. Bel Prasad Shrestha, member of the Board of Trustees. The deans and associate deans, directors, heads and coordinators, faculties and staffs of different schools attended the programme. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL Provides Financial Aid to Kathmandu University</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has extended its CSR activities in the field of education. The bank has contributed Rs 1 million to Kathmandu University (KU). The amount is to support KU’s Turbine Testing Lab for the purpose of education, research and development which will also aid the development of indigenous industries. KU has also entered into a technical cooperation with Norwegian University of Science and Technology (NTNU)/ Waterpower Land. It will be the first and only turbine testing laboratory in Asia. </div> <div> </div> <div> <span style="font-size:14px;"><strong>TU B.Ed, IA and I.Ed Results Out</strong></span></div> <div> Tribhuvan University Office of the Controller of Examination published the Results of B.Ed second year and IA 2nd year on 27 September. The exam of B.Ed 2nd year was held on Poush-Magh 2067 and the exam of IA 2nd year was held on Jestha-Ashad 2068. Similarly, TU also published the results of I.Ed second year (Back/Chance) on September 30, 2013. The exam of I.Ed second year was held on Ashad-Sharwan 2070. All results can be accessed at www.edusanjal.com.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Robotics Meet Concludes </strong></span></div> <div> Karkhana and Robotics Association organized Yantra 2.0’, a robotics competition at Dasarath Stadium on October 1. Around 217 participants from various cities of Nepal such as Pokhara, Chitwan, Biratnagar and Syangja took part in the competition. Students from secondary and high secondary school students also took </div> <div> part in the competition. Three major parts of the events were ‘Mission Nepal’, ‘Robo Akhada’ and ‘Robo Racer’. 3D printer was the attraction </div> <div> of the programme for visitors.</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday.', 'sortorder' => '1789', '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' => '1930', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NCM Merchant Appointed Yeti’s Share Registrar </strong></span></div> <div> NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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
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 133]file not found!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' => '1944', 'article_category_id' => '109', 'title' => 'INFICare Introduces ‘POSCASH’', 'sub_title' => '', 'summary' => null, 'content' => '<div> INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.</div> <div> </div> <div> Issuing a press release, INFICare said that to use this service, an SCT Card holder customer should visit POSCash’s appointed merchant along with his/her SCT card and PINNO with a passport-size photo and a valid ID Card</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'INFICare, a Software company, has introduced ‘POSCASH’ – a service that will allow the withdrawal of cash from Point of Sale (POS) devices and through mobile point of sale (MobilePOS) from the authorized POSCash’s merchant. MobilePOS payment solutions allow the withdrawal of cash from POSCash merchants to accept SCT Network’s debit card directly via their Smartphone or tablet.', 'sortorder' => '1802', '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' => '1943', 'article_category_id' => '109', 'title' => '13bn Bid For 10bn Reverse Repo', 'sub_title' => '', 'summary' => null, 'content' => '<div> Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period. The NRB has said it has fixed 0.542 per cent weighted average discount rate for the reverse repo this time. The bank had already absorbed Rs 43.50 billion from the financial system by holding four reverse repos and one outright sale auction within a month.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal Rastra Bank (NRB) said last week that it received a bid worth Rs 13.40 billion from the banking and financial institutions (BFIs) for a Rs 10 billion reverse repo it issued last Wednesday. NRB has received 78 sealed quotations from 15 BFIs for the reverse repo with a seven-day maturity period.', 'sortorder' => '1801', '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' => '1942', 'article_category_id' => '109', 'title' => 'Chilime’s 295pc Cash, 100pc Stock Dividend In 10yrs', 'sub_title' => '', 'summary' => null, 'content' => '<div> Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal. “We are building four hydropower projects in four years of 270.3 megawatt total capacity,” he said, adding that the company could distribute additional dividend after the completion of the projects. According to the company, it has already managed the fund for these projects. </div> <div> </div> <div> The AGM also endorsed the proposal to distribute 30 per cent bonus shares and 10 per cent cash dividend this year. “We have decided to distribute the bonus to manage funds from shareholders for upcoming projects,” he said. The company has said it will increase its paid-up capital by distributing bonus shares every year. The company has Rs 1.75 billion as paid-up capital until the Fiscal Year 2012-13. With the distribution of 30 per cent bonus shares, the paid-up capital reaches Rs 2.30 billion. </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chilime Hydropower Company Ltd has distributed 295 per cent cash dividend and 100 per cent bonus to its shareholders within a 10-year period. This information was provided during the 17th Annual General Meeting (AGM) of the Company held last Tuesday. During the programme, Chairperson Arjun Kumar Karki spoke of the company’s plan to make itself a leading hydropower company in Nepal.', 'sortorder' => '1800', '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' => '1941', 'article_category_id' => '155', 'title' => '‘CA Is A Subject To Study With Hard Work And Self Confidence’', 'sub_title' => '', 'summary' => null, 'content' => '<p> <span style="font-size:14px;"><img alt="Paramananda Adhikari" src="/userfiles/images/jv.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 250px; height: 329px;" />Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme. This week, The Corporate’s <strong>Pradip Adhikari</strong> spoke to <strong>Paramananda Adhikari</strong>, Technical Director, ICAN (Institute of Chartered Accountants of Nepal), to find answers to some frequently asked questions.<strong> Excerpts:</strong></span><br /> <br /> <span style="font-size:14px;"><strong>What kind of course is Chartered Accountancy?</strong></span><br /> Chartered Accountancy (CA) is a professional course. Lately students’ attraction towards CA has been increasing. The CA profession is now as respected as the Doctor and Engineer profession in national and international markets.<br /> <br /> <span style="font-size:14px;"><strong>What are the criteria to study the subject?</strong></span><br /> CA is studied in three phases: CAP 1, CAP 2 and CAP 3. CAP 1 is the first phase. Plus two graduates can get admission to the CAP 1 phase and students who have passed CAP 1 are eligible for CAP 2. Similarly, undergraduate and graduate students who have secured above 50 per cent can also get admission in CAP 2. CAP 3 can be studied only after passing CAP 2.<br /> <br /> <span style="font-size:14px;"><strong>What would you like to suggest to the students willing to study CA?</strong></span><br /> CA is a subject to study with hard-work and self-confidence. The course is not that difficult but one should be determined enough to study it. CA shouldn’t be taken lightly. The income of a Chartered Accountant is higher compared to that of other occupations. As Nepal is a developing country, there are lots of opportunities in this field and its scope is high in the international market too.<br /> <br /> <span style="font-size:14px;"><strong>How much does it cost to study CA?</strong></span><br /> The course costs Rs 90 thousand for all 3 levels combined. Besides that, there are fees for coaching classes. Coaching classes are run by institutes affiliated to ICAN. Every institute charges differently. It is up to students to choose what is best for them. CA is a course where one can earn while studying too. Thus, the investment can be recovered while studying.<br /> <br /> <span style="font-size:14px;"><strong>What is the difference between the Chartered Accountancy (CA) courses available in Nepal and those available in other countries?</strong></span><br /> The CA courses are similar around the world. There is no difference between those offered in Nepal, USA, South Africa or any other nation. As India has a big market and a similar culture to Nepal, Nepali students are attracted to studying CA in India. It is believed that degrees from Indian Universities are acclaimed. However, this is not true. Students who have got a degree from India have to give an exam in Nepal as well. In my point of view, since students have to return back to their own country after completing their studies, there is no difference between getting a degree from India or from Nepal.<br /> <br /> <span style="font-size:14px;"><strong>How has ICAN been helping students of CA in Nepal?</strong></span><br /> We have been helping students at various levels. We provide them counseling, revision tests, library facility, crash courses and so on. We also provide 50 per cent scholarship to the needy and meritorious students. ICAN provides scholarship to about 30 students each year. Around 140 students have received scholarships from ICAN till date. We have been sending students to various countries through students exchange programmes as well.<br /> <br /> <span style="font-size:14px;"><strong>What kinds of courses are accommodated in a CA programme?</strong></span><br /> We have attempted to accommodate courses that are directly or indirectly related with the CA profession. Mostly, accounting, auditing, corporate law and taxation are included in the course. Some courses that have direct relation with CA profession such as information technology and business management are also incorporated. <br /> <br /> <span style="font-size:14px;"><strong>What is the examination procedure in a CA course?</strong></span><br /> CA has the most simple examination system. The examination is conducted twice a year in December and June. Cap 1 has three major subjects that need to be passed in a single attempt. Cap2 has two major subjects and that can be passed within two attempts. Students must score 50 per cent marks in an average. However, the pass mark is 40. If a student scores 40, 50 and 60 in the first, second and the third subjects, respectively, the student will have passed the examination.<br /> </p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Chartered Accountancy has been a popular subject among Nepali students and there are multiple colleges that offer preparation and tuition classes for the programme.', 'sortorder' => '1799', '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' => '1940', 'article_category_id' => '156', 'title' => 'To Master Your Next Meeting, Just Say ‘Yeah’', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> <strong>--By Rachel Emma Silverman</strong></p> <p> The next time you’re in a meeting and want to get people on your side, just say ‘yeah.’<br /> <br /> New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.<br /> <br /> Researchers Cynthia Rudin and Been Kim, a statistics professor and graduate student, respectively, at MIT’s Sloan School of Management , analyzed vocabulary usage and dialogue patterns in 95 meetings to see which words appeared to sway colleagues most.<br /> <br /> Among the words most likely to result in accepted proposals: ‘Yeah,’ ‘give,’ ‘start,’<br /> and ‘discuss.’<br /> <br /> While ‘yeah’ may seem like an odd candidate for a persuasive word, it may have currency because it signals agreement with what others have previously said. Framing a suggestion as if it were an agreement, rather than a conflict, may win favor more easily in a group, according to Dr. Rudin.<br /> <br /> Some words turned out to be good for steering colleagues away from a topic. ‘meeting’ was particularly effective when the speaker’s proposal aimed to halt discussion of a particular issue, as in “maybe this is something for the next meeting.” Those suggestions were almost always accepted, the researchers found.<br /> <br /> ‘Discuss’ was used in a similar fashion, to suggest how a meeting should be organized, as in ‘Maybe we should discuss this further.’<br /> <br /> The researchers also tried to identify standard dialogue patterns in meetings, and found employees rarely offered compliments after negative assessments. Doing so makes an employee sound disingenuous, the researchers wrote.<br /> (http://blogs.wsj.com/atwork)<br /> </p>', 'published' => true, 'created' => '2013-10-07', '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 next time you’re in a meeting and want to get people on your side, just say ‘yeah.’ New research out of the Massachusetts Institute of Technology found that certain words seem to help participants appear more persuasive in meetings and increased the chances that their ideas would win acceptance from the group.', 'sortorder' => '1798', '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' => '1939', 'article_category_id' => '151', 'title' => 'Day Long Workshop By V.S. Niketan', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation. Some experts of management from different sectors were also present in the programme who shared their opinions to the programme.<br /> <br /> KFA School of Management, Quest International College, Kathmandu College of Management and V.S Niketan College actively participated and presented their respective papers on various emerging issues of the nation like- ‘Brain Drain’, ‘Conflict Management’, ‘Crisis Management’ and ‘Banking Mergers’. The programme had three phases- inauguration, paper presentation, and group discussion.<br /> <br /> This workshop programme was supported by the sponsors- Nepal Bank Ltd., Everest Bank Ltd., Sunrise Press, Buddha Publication, and Distributers and the official media partners ‘The Corporate Weekly’ and Radio Shepherd 88.4 MHz. Kathford College won the first prize of the best presenter team. Neekita Sinnya from KFA School of Management won the honour and prize of the best presenter of the one-day long workshop.</p>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'V.S. Niketan College organized “A Day Long Workshop Programme” in ALFA House, Baneshwor in association with the Landmark Consultancy. The topics of the workshop were related to emerging issues of the country in business. This practice-based paper presentation programme began at 9:30 am and went on till 5:30. The programme was chaired by prof Dr Haribhakta Neupane, the chairperson of V.S Education foundation.', 'sortorder' => '1797', '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' => '1938', 'article_category_id' => '160', 'title' => 'Corptoon Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Corptoon', 'sortorder' => '1796', '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' => '1937', 'article_category_id' => '146', 'title' => 'Visual Edit Vol 3 Issue 34', 'sub_title' => '', 'summary' => null, 'content' => '', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Viausl Edit', 'sortorder' => '1795', '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' => '1936', 'article_category_id' => '105', 'title' => 'Real Leader In The Making', 'sub_title' => '', 'summary' => null, 'content' => '<div> The son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman. If he takes the book of Geeta, he will be a spiritual Guru, if it’s the bottle of Royal Stag, he will be a drunkard and a waster, and if he picks up the knife he is going to be a Don.</div> <div> </div> <div> Both of them waited behind the curtain and watched. As the son walked in, he noticed the four items on the table. He opened the bottle of whiskey and took a long swig, he pocketed the wand of rupees, put the knife on the back pocket and the Geeta, under his arm and calmly walked away.</div> <div> </div> <div> The father was excited. ‘Wow’, said the father, ‘he is going to be the real leader’. –ML</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 son was expected to arrive from Kathmandu after completing the college studies to help father in the election campaign. The father, a former teacher by profession who is now a candidate in the upcoming election, invited his best friend to his house at Birgunj on the day of his son’s arrival and took him to a room where the son was to be shown in. He pointed to the four things he had placed on the table. If he picks money, he said, he will be a businessman.', 'sortorder' => '1794', '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' => '1935', 'article_category_id' => '144', 'title' => 'Happy Dashain', 'sub_title' => '', 'summary' => null, 'content' => '<div> The festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.</div> <div> </div> <div> The only difference this time around might be for the political parties who will, no doubt, be campaigning even during the festival. Dashain is a golden chance for the candidates contesting in the upcoming Constituent Assembly (CA) election to connect directly with voters and convience them into their ideology and agenda by giving coveted gifts in return. Equally, people can take advantage of their advances by placing their queries and judging the efficiency of the candidates.</div> <div> </div> <div> Politics aside, there are many good aspects of Dashain as well as some bad practices. It is really difficult to celebrate Dashain for low-income families. Increasing inflation and lack of employment opportunities have hit the middle class population of the country. The culture of imitating others in celebrating Dashain will compel lower-income families to take loans. May this season bring some respite to all families living in acute poverty.</div> <div> </div> <div> Better off citizens should be aware of the social pressures unconsciously exerted upon others and be careful to celebrate responsibly. Excessive use of alcohol may create tension among neighbours and it should be avoided. People should also be alert regarding adulteration in food products and the possible compromises in hygiene during this period of high demand in traditional foods. The security agencies and government’s quality control mechanisms also should be careful to safeguard the people’s right to consume healthy food. Dashain being a festival that symbolises the victory of truth over evil, may this season bring conscience in business practices and the government’s responsibility.</div> <div> </div> <div> Dashain also acts as a social glue in our increasingly busy society. People observe the tika receiving ceremony as an opportunity to resume broken relations with their relatives and friends. The festival gives immense opportunity for relatives living abroad to come together as well. May this Dashain bring prosperity and joy to you and your family. Happy Dashain to all our readers!</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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 festival of Dashain began from the fifth of October this year. While schools have already begun holidays, migrants in the valley have begun going back home to celebrate with family.', 'sortorder' => '1793', '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' => '1934', 'article_category_id' => '145', 'title' => 'The West Seti Hydro Project A New Model Of People-Private-Public-Partnership?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Madhukar SJB Rana</strong></div> <div> </div> <div> For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.</div> <div> </div> <div> The project was a PPP project with SMEC providing 10 per cent of the power generated, or its equivalent in cash, to the Government of Nepal and exporting 90 per cent of the energy generated to India at a price of USD 4.86 per KWe under the Power Trade Agreement signed with the Power Trading Corporation (India). </div> <div> </div> <div> Under the BOOT model, the company was to transfer the ownership to Nepal after 25 years from the start of operations. In the wake of the acute power shortage in Nepal where the country has to suffer 12-14 hours of power outage in winter, it is not surprising that the people, both local and national, were opposed to such an export-oriented project. People also questioned the sheer lack of consideration for the full use of the water being damned for irrigation. </div> <div> </div> <div> Enter the China Three Gorges Corporation (CTGC), after which the West Seti Project may see the light of day. Let us hope that the CTGC takes this up as a 100 per cent FDI as it has the technology (the corporation has installed more than 20,300 MW thus far) as well as the management and financial capacity to execute it on a turnkey basis – once the selling price is settled. However, the project implementation will depend critically on issues over (a) land acquisition, (b) resettlement of the affected people,(c) construction of a transmission line to feed energy generated into the national grid and (d) learning from the mistakes of SMEC for failing to genuinely participate with the local VDC s and local communities.</div> <div> </div> <div> The project will provide immense benefits to the Far West Region comprising Baitadi, Bajhang, Doti and Dadeldhura districts – provided it is taken up as a People-Private-Public-Partnership (4Ps, not 3Ps) project where land acquisition is fairly and amicably done and the 16,000 plus people comprising 2125 plus households in the 20 VDCs get to be beneficiaries without having to be resettled elsewhere in the Tarai (Bardia, Kailali and Kanchanpur) – an ecological region totally alien to the locals’ lifestyle. In 2008, the Constituent Assembly MPs estimated that only around 20 per cent of the land is government owned and, further, that 1393 households involving 12,000 people would have to be relocated.</div> <div> </div> <div> A turnkey basis is suggested in order to get over the hassle of multiple financiers as was faced by SMEC. It may be noted here that the SMEC venture was originally to be completed in 2005.It then moved forward to 2012! Now, with the CTGC, the project is expected to be operational by 2021. The CTGC cost is estimated at around $1.7 billion. A turnkey project would free Nepal of the burden of cost over runs and delays and, more so, all manner of hidden transaction costs as payoffs to ever changing governments, politicians and bureaucrats. Should Nepal opt for federalism, the matter will be even more compounded by issues over jurisdiction and authority. Hence turnkey is the need of the hour. The next issue is under what model: BO; BOO or BOOT? How long should the contract be stipulated for? It is suggested that this be kept open depending on the PPPP project appraisal that should, ideally, seek a win-win for all stakeholders while sharing risks equitably. It needs be underscored here that China may, in the process, also come forth with a new model of development diplomacy based on the emerging concept of aid for trade.</div> <div> </div> <div> Space limits this discussion. Suffice to say that the 4th P can be incorporated by assessing the possibilities of transformation of the project area and its households by assessing possible local development opportunities over the life span of the CTGC project. The idea is simple: the area as well as the local people should benefit with the CTGC providing a new vision of social transformation, as partners, over the optimal life span of the project. This would require financial as well as economic appraisal of the project along with risk assessments and consideration of what fiscal, financial, monetary, land and infrastructure policies and programme support may be required from the local and central governments. Participatory Action Research (PAR, not simply PRA) should be engaged in to decipher the people’s wishes, desires, dreams and capacities. </div> <div> </div> <div> To conclude: ADB and Electricite de France, a French utility company, completed a 1070 MW Hydro Project in Laos where 6000 displaced villagers in 17 villages were successfully resettled into new homes along with legal grant of new plots of land and technical assistance in farming. Payments of due compensation to 18,000 villagers indirectly affected, situated in 92 villages, were provided in the form of assistance in agriculture, horticulture, fisheries, livestock, forestry and off-farm activities to include vocational and entrepreneurial skill training. Another 67 villages, lying adjacent to these 92 villages, got better access to education and health along with some cash compensation. </div> <div> </div> <div> The 4P model proposed here seeks all of the above plus more —it incorporates financial, fiscal, monetary and land acquisition terms and conditions into the model and decides on the precise nature of the partnership model-- and its duration-- only after due consideration of risks, financial and economic costs and benefits to all stakeholders. It goes way beyond the current royalty cum BOOT model that is standard fare to any and all projects which are in dire need of innovation on a case by case basis. </div> <div> (The Writer is a former Finance Minister and Professor at the South Asian Institute of Management.)</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', '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' => 'For over a decade and a half, the Australian engineering company Snowy Mountain Engineering Corporation (SMEC) tried to build a 198m High Dam and generate 750 MW hydro power in the West Seti river but failed because it could not (a) mobilize the required US $ 1.2 billion funds, (b) pass the Environmental Assessment norms, (c) meet world standards for High Dams and (d) did not know – or indeed care-- how best to meet the needs of local inhabitants, both directly and indirectly affected. After 16 years of trying and having expended over $ 35 million, SMEC abandoned the project in 2011 when the Government of Nepal revoked its license once and for all.', 'sortorder' => '1792', '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' => '1933', 'article_category_id' => '140', 'title' => 'Weekly Round-UP (30 September - 6 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<ul> <li> In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system. Businessmen can now register their company at the service centre established at the district by district chambers of commerce and industry. The service centre will provide the service of company registration and renewal. Representatives of the private sector have hailed the agreement saying that this public-private partnership could ease their process for company registration.</li> </ul> <div> </div> <ul> <li> The government has paved the way for Nepal Telecom (NT), a public entity, to bring in a strategic partner. The meeting of the Council of Ministers has cleared the decks for the government to sell a part of its stock in NT to the prospective strategic partner. Though the government has not decided the number of shares to be sold to the prospective partner, a technical committee formed last year had recommended the government to sell 30 per cent of its shares to such partner. Now, with the government’s nod, NT will hire a consultant firm to prepare bid documents for finding a new strategic partner. Officials at the Ministry of Finance say that a recommendation made by the technical committee will be considered while developing standards for the prospective strategic partner. Amid stiff competition posed with the entry of private telecommunication service providers in the market, the new strategic partner for the state entity is expected to provide some external stimulus to drive the company forward.</li> </ul> <div> </div> <ul> <li> Data has shown that the contribution of the financial sector to the Gross Domestic Product (GDP) of the country has remained constant for the last seven years. Though there has been a rise in the numbers of banks, banking access, deposit and loan amounts, the total contribution to the GDP each year since Fiscal Year 2006-07 to FY 2012-13 has remained around four per cent only. Stakeholders attribute the lack of investment friendly climate, political instability and investment areas, among others, behind such lackluster performance of the financial sector towards contributing to the GDP. This situation, economic analysts say, is very unfortunate for Nepal despite the possibility of it being an international financial hub.</li> </ul> <div> </div> <ul> <li> The Inland Revenue Department (IRD) has intensified the monitoring of the issuance of VAT bills against the backdrop of the Dashain festival. Though the IRD campaign to inspect the market in a bid to encourage customers and business firms to ask and issue VAT bills while buying goods and services is positive, the monitoring of the market on the eve of the festive seasons alone cannot ensure the full-practice of issuing a VAT bill. IRD had inspected 15,000 business enterprises last year during the Dashain festival, while it plans to monitor 20,000 business firms this year. This number is small among the total number of business firms in Nepal. Thus, analysts call for the widening of inspection in order to help plug revenue leakage.</li> </ul> <div> </div> <ul> <li> As the Constituent Assembly election date scheduled for November 19 approaches nearer, the donation drive of political parties is causing terror in the business community. Political parties and their election candidates are searching for businessmen to manage the funds they need to contest for the polls. The problem has become so serious that many businessmen have now stopped answering phone calls from unknown numbers while other are changing their numbers frequently to avoid demands for donation. Businessmen have become a primary source for exorbitant donations mostly during the election. </li> </ul> <div> </div> <ul> <li> Despite Nepal’s better economic prospects, India’s economic slowdown could hinder Nepal’s economic performance, according to a prediction by the International Monetary Fund (IMF). The effect of the India’s slowdown will also have an adverse impact in the financial sector as well as the overall economy. The IMF has recommended concerned authorities to tighten the monetary condition to reduce the gap between the interest rates in the two countries.</li> </ul>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'In what appears to be a sigh of relief to businessmen outside Kathmandu, they do not need to come to Kathmandu anymore for registering their company. According to an agreement struck between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Office of Company Registrar last week, businessmen can register their companies from their own district through an online system.', 'sortorder' => '1791', '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' => '1932', 'article_category_id' => '141', 'title' => 'Nepal Political Economic News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>Election Inevitable: Gachhadar</strong></span></div> <div> Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Rae Stresses Political Stability</strong></span></div> <div> India wants political stability in Nepal as it will have direct benefits to the Indian government and the Indian citizens, says Indian Ambassador to Nepal Ranjit Rae. He added that political stability will also open up the door to economic development. Speaking at a programme organized by the Nepal-India Friendship Association to welcome the newly-appointed Indian Ambassador in the capital last Monday, Rae said that India was ready to extend full support for Nepal’s economic development. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Regmi’s Nay to Resign CJ Post</strong></span></div> <div> Chairman of Interim Election Council Khil Raj Regmi has said that there are not any circumstances that can prevent the government from holding the Constituent Assembly polls on November 19. Speaking with journalists at Tribhuvan International Airport upon his arrival from New York last Tuesday, Regmi claimed that his government will hold the CA polls on the stipulated date. He also ruled out possibility of his resignation from the post of Chief Justice. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Adhikari’s Murder Accused Released</strong></span></div> <div> Chitwan Police has released Ram Prasad Adhikari, one of the accused of the murder of Krishna Prashad Adhikari of Phujel in Gorkha, last Monday (September 30) following a directive of the District Attorney’s Office. He was nabbed from Kathmandu a month ago and sent to Chitwan, where he was kept in detention and charged with murder. According to Chitwan Police Office, Adhikari was released after the police received a letter from the attorney’s office stating that he could not be prosecuted at the court due to lack of sufficient evidence.</div> <div> </div> <div> <span style="font-size:14px;"><strong>JC fails to appoint SC judges</strong></span></div> <div> The meeting of the Judicial Council (JC) held last Thursday could not appoint the judges at the Supreme Court (SC). According to an official at the JC, the meeting did not take any decision regarding the appointment of the judges. A source inside the JC said that the tussle between the Acting Chief Damodar Prasad Sharma and other JC members led to the indecision. Currently, there are 14 vacant posts for justices in the SC, out of which nine are permanent. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Apex court stays decision to recall envoy Sharma</strong></span></div> <div> Supreme Court (SC) has directed the government to not implement its decision to recall the Nepali Ambassador in Qatar Maya Kumari Sharma. A bench of Justice Prakash Wasti directed the government last Friday not to appoint a new ambassador to Qatar until the issue was finalized on whether or not an interim order was required. Ambassador Sharma had filed a writ petition last Monday challenging the government decision to recall her from the post.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Notorious gangster Lama released on bail</strong></span></div> <div> Notorious gangster Ganesh Lama was released from jail last Friday, a day after filing his nomination for the upcoming Constituent Assembly polls from Kavre-2. Lama was released after posting a bail amount of Rs 30 million at the Special Court. Earlier on July 13, he was sent to jail by the Special Court after he failed to submit the bail amount. He has been charged by the Department of Money Laundering Investigation for amassing Rs 270 million through extortion, illegal contracts and banking transactions, among other illegal activities.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Madhesi Janadhikar Forum (Democratic) Chairman Bijay Kumar Gachchhadar has said the country is already engrossed in holding the November 19 Constituent Assembly (CA) election, and it would not be disrupted at all. Speaking at a programme last Tuesday, Chairman Gachhadar said no political parties would get an absolute majority in the coming CA election. However, the MJF (Democratic) would emerge one of the big powers, he claimed.', 'sortorder' => '1790', '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' => '1931', 'article_category_id' => '154', 'title' => 'Learning Curve News In Brief ( 7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>StanChart’s Students Scholarship Project</strong></span></div> <div> Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday. CEO of the bank Joseph Silvanus gave away the scholarships at a function organised at the school. The bank has been providing scholarships to 15 deserving students of the school since 2002.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Kathmandu University Celebrates 22nd Annual Day</strong></span></div> <div> Kathmandu University organized a special programme on September 25 to mark its 22nd Annual Day in the CV Raman Hall of the principal campus. A group of faculties, staffs and students organized a cultural programme to mark the occasion. Among the dignitaries to grace the occasion were Prof. Dr. Bhala Thapa, the Registrar, Prof. Dr. Suresh Raj Sharma, Founder Vice Chancellor, Prof. Dr. Sitaram Adhikari, Founder Registrar, and Mr. Bel Prasad Shrestha, member of the Board of Trustees. The deans and associate deans, directors, heads and coordinators, faculties and staffs of different schools attended the programme. </div> <div> </div> <div> <span style="font-size:14px;"><strong>NIBL Provides Financial Aid to Kathmandu University</strong></span></div> <div> Nepal Investment Bank Limited (NIBL) has extended its CSR activities in the field of education. The bank has contributed Rs 1 million to Kathmandu University (KU). The amount is to support KU’s Turbine Testing Lab for the purpose of education, research and development which will also aid the development of indigenous industries. KU has also entered into a technical cooperation with Norwegian University of Science and Technology (NTNU)/ Waterpower Land. It will be the first and only turbine testing laboratory in Asia. </div> <div> </div> <div> <span style="font-size:14px;"><strong>TU B.Ed, IA and I.Ed Results Out</strong></span></div> <div> Tribhuvan University Office of the Controller of Examination published the Results of B.Ed second year and IA 2nd year on 27 September. The exam of B.Ed 2nd year was held on Poush-Magh 2067 and the exam of IA 2nd year was held on Jestha-Ashad 2068. Similarly, TU also published the results of I.Ed second year (Back/Chance) on September 30, 2013. The exam of I.Ed second year was held on Ashad-Sharwan 2070. All results can be accessed at www.edusanjal.com.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Robotics Meet Concludes </strong></span></div> <div> Karkhana and Robotics Association organized Yantra 2.0’, a robotics competition at Dasarath Stadium on October 1. Around 217 participants from various cities of Nepal such as Pokhara, Chitwan, Biratnagar and Syangja took part in the competition. Students from secondary and high secondary school students also took </div> <div> part in the competition. Three major parts of the events were ‘Mission Nepal’, ‘Robo Akhada’ and ‘Robo Racer’. 3D printer was the attraction </div> <div> of the programme for visitors.</div> <div> </div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '0000-00-00', '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' => 'Standard Chartered Bank Nepal has introduced the Village School-College Students Scholarship Project–Nepal to reach rural schools to support deserving students of Shree Mahendra Shanti High School, Balkot, Bhaktapur. Standard Chartered awarded the scholarships to meritorious students for the academic year B.S. 2069, on Tuesday.', 'sortorder' => '1789', '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' => '1930', 'article_category_id' => '108', 'title' => 'Money Matters News In Brief (7 - 13 October 2013)', 'sub_title' => '', 'summary' => null, 'content' => '<div> <span style="font-size:14px;"><strong>NCM Merchant Appointed Yeti’s Share Registrar </strong></span></div> <div> NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Prabhu’s Service Center in Nuwakot</strong></span></div> <div> Prabhu Money Transfer Company has started its service center in Nuwakot. Prabhu has made the Bidur-based Panchakanya Multipurpose Cooperative its service center. Panchakanya Cooperative has been long working as an agent of Prabhu Money Transfer. Director of Prabhu Management inaugurated the newly established service center last Monday. Though the company has seven service centers in Kathmandu, it established its first service center in Nuwakot outside the Kathmandu Valley. The company has said that the establishment of the service center was a part of its campaign to extend remittance services in remote parts of the country.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Sansar Remit to Bring Remittance from Japan</strong></span></div> <div> Sansar Remit Pvt Ltd is preparing to bring remittance funds from Japan. According to the company’s Chairperson Pradip Shrestha, it will begin service after the Dashain festival with some new schemes. It is currently providing remittance services from Portugal, Spain and Italy. After Japan, the company will also start its service from America, Australia and other countries.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Dr Bhattarai appointed Janata Bank’s CEO</strong></span></div> <div> Dr Ramesh Kumar Bhattarai has been appointed as the Chief Executive Officer (CEO) of the Janata Bank Nepal Ltd. The meeting of the Board of Directors of the Janata Bank held on September 24 decided to appoint Dr Bhattarai as the CEO of the Bank. According to the press release of the Janata Bank, Dr Bhattarai will assume the post of the CEO from October 9. Dr Bhattarai, a retired administrator of the Employees Provident Fund, has an experience of more than 10 years on working with various commercial banks and public enterprises. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Jyoti and City Express in Agreement</strong></span></div> <div> Jyoti Development Bank Ltd and City Express Money Transfer have struck an agreement on remittance services. The bank’s CEO Govinda Prashad Upadhyaya and the Managing Director of City Express Money Transfer, Chandra Tandon, signed the agreement last Tuesday. Remittance services from this agreement will be available from all branch offices of the Jyoti Development Bank.</div> <div> </div> <div> <span style="font-size:14px;"><strong>Nabil’s Online Account Opening Facility</strong></span></div> <div> Nabil Bank has initiated a service to open bank accounts through the online system. The bank has said that the facility was initiated to save the time of its customers and increase banking access among people. “We have begun this service as per our commitment to provide automated banking services,” Chief Executive Officer of the Bank, Anil Gyawali, said. The bank has claimed that this service is the first of its kind in Nepal. According to the bank, people can open their account by submitting a request online through the bank´s website: www.nabilbank.com.</div>', 'published' => true, 'created' => '2013-10-07', 'modified' => '2013-10-08', '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' => 'NCM Merchant Banking has been appointed as the share registrar of Yeti Development Bank Ltd. Bhushan Shamsher JB Rana, CEO of the Bank, and NCM Merchant Banking Ltd Managing Director Bijay Lal Shrestha, have signed an agreement on this regard. Yeti Development Bank has begun operation after a merger between Manakamana Development Bank Ltd, Valley Finance Ltd and Yeti Finance Ltd.', 'sortorder' => '1788', '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
